Bloomberg Surveillance

Cameron Dawson, Chief Investment Officer at NewEdge Wealth, analyzes market leadership shifts, emphasizing the importance of equal-weight S&P earnings as it relates to semiconductor cycles. Deborah Cunningham, CIO for Global Liquidity Markets at Federated Hermes, shares insights on Fed policy impacts and highlights potential rate cuts in 2026 amid evolving liquidity conditions. Retail analyst Dana Telsey discusses strong holiday performance, contrasting the successes of off-price retailers with the challenges faced by giants like Target.

Jay Hatfield, CEO of Infrastructure Capital Management, shares his bullish outlook for 2026, urging a shift from tech to value investing. Joy Yang from Market Vectors Indexes warns against market complacency and discusses the risks of high returns persisting. Chris Kampitsis of Barnum Financial Group highlights Japan's potential, advocating for consumer staples and quality bonds amid changing rates. Together, they explore the impact of AI and emphasize diversification for future investment strategies.

Join Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, as she discusses the challenges facing equities in 2026, including sector rotation and CapEx implications. Ed Mills, Washington policy analyst at Raymond James, dives into the complexities of foreign policy and the potential impact of upcoming talks between Ukraine and the U.S. George Goncalves, Head of US Macro Strategy at MUFG Americas, warns about macroeconomic risks and labor market concerns, while also highlighting the connection between Fed policy and precious metals.

David Sherman, CIO at CrossingBridge Advisors, dives into credit opportunities outside the U.S. and the appeal of debtor-in-possession financing heading into 2026. Bill Adams, Chief Economist at Comerica Bank, predicts solid economic growth and the Fed’s potential support through rate cuts, despite a soft Q4. Scott Sperling, CEO of THL Partners, discusses the uptick in M&A activity, extended hold periods in private equity, and sectors to watch like pharma services and AI. It's a forward-looking conversation on markets and economics!

Cameron Dawson, Chief Investment Officer at NewEdge Wealth, shares her insights on market trends, warning of high valuations masking deeper risks. Terry Haines, founder of Pangaea Policy, discusses the controversial $100,000 fee for H-1B visa applications and its implications for U.S. workforce policy. Michael O'Rourke, Chief Market Strategist at JonesTrading, raises alarms about a potential market bubble fueled by AI enthusiasm and stresses the need for caution in credit markets. Together, they paint a complex picture of the economic landscape ahead.

Robert Teter, Chief Investment Strategist at Silvercrest Asset Management, discusses the intriguing disconnect between robust GDP growth and a softening labor market, while forecasting a promising outlook for earnings in 2026 driven by AI. Peter Cheer, Head of Macro Strategy at Academy Securities, analyzes macroeconomic conditions and highlights emerging investment opportunities tied to national security. Both guests emphasize the evolving landscape of consumer spending, particularly the shift towards wellness and experiential purchases.

Steven Major, a fixed-income veteran now with Tradition, shares insights on yield-curve positioning, highlighting the importance of the five-year/5-30s as a key metric for understanding Fed sensitivity. From Dubai, he discusses the city’s transformation into a global hub. Jim Caron, an experienced bond market manager, evaluates default risks and forecasts how bond markets will interact with equities, asserting that they won't undermine equity performance by 2026. A fascinating dive into the intricacies of the fixed-income landscape!

Vincent Reinhart, a chief economist known for his insights on monetary policy, delves into the surprising GDP surge and its implications for the Fed. Dan Skelly of Morgan Stanley shares a bullish market outlook for 2026, focusing on AI and M&A. Mona Mahajan from Edward Jones highlights the constructive equity rotation driven by inflation expectations, while Peter Supino provides in-depth analysis of the Warner/Paramount bidding war and its potential impacts on the media landscape.

Jim Caron, Chief Investment Officer at Morgan Stanley, discusses the potential for a U-shaped recovery in 2026, emphasizing the importance of bonds in the current market. He predicts modest rate cuts and a positive trajectory for cyclical stocks. Randy Schwimmer, Vice Chair at Churchill Asset Management, highlights strong demand in private credit and how it thrives even in a lower rate environment. He also explains effective risk management in the private lending space, underscoring the importance of aligned interests between sponsors and lenders.

Explore how market headlines can overshadow significant issues like Japan's economy and the Fed's role in growth. David Kelly delves into GDP dynamics and the reality of potential Fed easing. Discover Tom Keene's critique on the media's fixation with rates and its impact on financialization for the wealthy. Lori Calvasina sheds light on AI valuation anxieties amid a strong market rally and the optimistic outlook from active managers. This discussion weaves together vital insights shaping today's financial landscape.