Bloomberg Surveillance Bloomberg Surveillance TV: February 25th, 2026
12 snips
Feb 25, 2026 
Kelly Ann Shaw, trade lawyer and former White House advisor, outlines tariff mechanics and legal limits. Adam Posen, economist and institute president, discusses inflation, Fed stance, and affordability pressures. Julian Emanuel, equity strategist, breaks down market resilience, NVIDIA and AI impacts, and sector rotation. They cover tariffs, rates, AI-driven market moves, and trade tensions in concise, lively conversation.
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Stocks Are Resilient Due To Earnings And Low Yields
- Equity resilience reflects stronger earnings growth and comparatively low long-term yields, making stocks likely to go higher in 2026.
- Julian Emanuel cites expected double-digit earnings growth and global stimulus/rate-cut potential as key support for markets.
Markets Are Hedging For A Military Outcome In Iran
- Options and prediction markets show investors are hedged for a downside scenario around Iran, pricing elevated risk into puts and oil.
- Emanuel points out put-call skew in the QQQs matches extremes seen in prior tariff tantrums and oil bullishness akin to early Russia-Ukraine shocks.
Check Credit Breadth Before Calling A Growth Scare
- Watch credit market breadth not just headline yields; pockets of distress don't equal systemic failure.
- Emanuel warns that while some credit areas crashed, broad credit still 'behaves very nicely', so assess granular indicators.