Bloomberg Surveillance Bloomberg Surveillance TV: February 10th, 2026
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Feb 10, 2026 Marvin Loh, Senior Strategist at State Street, outlines market optimism, yields and Fed shifts. Jonathan Lieber, US Head of Research at Eurasia Group, discusses 2026 political dynamics, tariffs and voter sentiment. Gregory Daco, Chief Economist at Ernst & Young, covers consumer spending, income distribution and labor-market softness. They debate market rallies, policy moves and fragile growth in short, sharp takes.
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Growth Is Narrow And Fragile
- U.S. growth looks strong but is concentrated among a few big companies and capital owners.
- That narrow, winners-take-all growth makes overall consumer demand fragile and uneven.
Policy Talk Can Create Emerging-Market Risk
- U.S. policy choices can start to look like emerging-market behavior, raising risk premia.
- That political regime shift may take time to show up in asset prices and requires catalysts.
Position For Higher Long Yields
- Prepare for a Fed under Kevin Warsh to favor higher long-term yields and a potentially steeper curve.
- Position neutrally for duration and expect policy to push toward higher yields at the long end.