Bloomberg Surveillance

Michael Holland, Holland & Company President, says to beware the bond market. Matthew Luzzetti, Deutsche Bank Chief U.S. Economist, doesn't expect Biden's Build Back Better plan to have a material impact on the Fed's path. Jane Foley, Rabobank FX Strategy Head, says the move up in the dollar may not last. Jodie Guest, Emory University Rollins School of Public Health Department of Epidemiology Vice Chair, stresses the importance of improving Covid testing.See omnystudio.com/listener for privacy information.

Chris Harvey, Wells Fargo Securities Head of Equity Strategy, recommend investors move up in quality to protect against a possible U.S. Correction. Republican Congressman Bryan Steil of Wisconsin says Biden's economic plan will likely exacerbate inflation. Dr. Bhakti Hansoti, Johns Hopkins Associate Professor of Emergency Medicine, discusses reducing quarantine time for Covid positive individuals, travel risks during the holiday season, and symptoms associated with the omicron variant. Brian Kelly, The Points Guy Founder & CEO, discusses holiday travel as the world braces for another Covid Christmas.See omnystudio.com/listener for privacy information.

Andrew Slimmon, Morgan Stanley Investment Management Senior Portfolio Manager, says it is way too early to get bearish. Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, says getting only a mild illness from Covid-19 is a victory for vaccines. Sarah Hunt, Alpine Woods Capital Investors Portfolio Manager, says growth is going to continue to be important for equity markets. Neil Dutta, Renaissance Macro Research U.S. Economic Research Head, says the Fed could hike four times next year without being hawkish.See omnystudio.com/listener for privacy information.

Richard Bernstein, Richard Bernstein Advisors CEO & CIO, says markets are caught between a rock and a hard place right now. Henrietta Treyz, Veda Partners Economic Policy Director, says Senator Joe Manchin's opposition to President Biden's tax-and-spending package was a huge blow to the White House. Lara Rhame, FS Investments Chief U.S. Economist, says the Fed needs to get tapering out of the way. Peter Hotez, National School of Tropical Medicine at Baylor College of Medicine Dean, says the U.S. has no appetite for more Covid-related shutdowns.See omnystudio.com/listener for privacy information.

Claudia Sahm, Jain Family Institute Senior Fellow & Former Federal Reserve Economist, says we have a new Federal Reserve framework that is being tested as we speak. Anna Han, Wells Fargo Equity Strategist, says the market is still digesting the Fed's change in velocity. Andrew Pekosz, Johns Hopkins Bloomberg School of Public Health Professor & Virologist, says Covid-19 is looking more and more like a seasonal influenza. Helane Becker, Cowen Senior Research Analyst, expects to see airline travel pick up in mid-February.See omnystudio.com/listener for privacy information.

George Bory, Allspring Global Investment Holdings Fixed Income Specialist, says central banks are trying to re-establish their credibility as inflation fighters. Seth Carpenter, Chief Global Economist Morgan Stanley, says we're going to continue talking about inflation for a long time. Beata Kirr, Co-Head of Investment Strategies at Bernstein Private Wealth Management, says the Federal Reserve’s intent to tackle inflation has provided a boost to market certainty and outlook. Steven Englander, Standard Chartered Head of G-10 FX Research, sees dollar weakness ahead. Shahab Jalinoos, Credit Suisse Chief FX & Rates Strategist, says to try to stay long the dollar where possible.See omnystudio.com/listener for privacy information.

Ken Rogoff, Harvard University Economics Professor, says now is the time to act on inflation. David Kostin, Goldman Sachs Chief U.S. Strategist, explains the factors behind the firm’s call for the S&P 500 index to hit 5,100 by the end of 2022. Dana Peterson, Conference Board Economist, expects services activity to return to pre-pandemic levels next year. Alan Ruskin, Deutsche Bank Chief International Strategist, says now there is even more reason to have a much higher terminal rate. Dr. Bhakti Hansoti, Johns Hopkins Associate Professor of Emergency Medicine, says vaccine uptake is improving as omicron spreads.See omnystudio.com/listener for privacy information.

John Stoltzfus, Oppenheimer Chief Investment Strategist, explains the reasoning behind his street-high S&P target of 5,330. Daniel Skelly, Morgan Stanley Wealth Management Head of Market Research & Strategy, discusses the factors behind the firm's 4,400 S&P call. Michael Gapen, Barclays Chief Economist, reacts to the jump in U.S. PPI. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, says credit is "all good, except the yield." Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, discusses the Covid-19 omicron variant and the importance of first and second vaccine doses for the unvaccinated over booster shots.See omnystudio.com/listener for privacy information.

Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, says stocks are still the best game in town for 2022. Michael Collins, PGIM Fixed Income Senior Portfolio Manager, says a totally flat yield curve is already priced in. Wei Li, BlackRock Investment Institute Global Chief Investment Officer, says support must continue to ramp up in China because of the deteriorating growth. Joshua Sharfstein, Johns Hopkins Bloomberg School of Public Health Vice Dean, discusses the omicron variant and company vaccine mandates.See omnystudio.com/listener for privacy information.

Kathy Bostjancic, Oxford Economics Chief U.S. Financial Economist, expects inflation to get worse from here. Stephen Dover, Franklin Templeton Chief Market Strategist & Head of Franklin Templeton Investment Institute, discusses how the inflation surge reflects our shifting economy. Andrew Pekosz, Johns Hopkins Bloomberg School of Public Health Professor & Virologist, says the delta variant is nearing its peak in the U.S. just as we're seeing omicron begin to emerge. Andy Blocker, Invesco Head of U.S. Government Affairs, says there is a 75% chance that Build Back Better gets done.See omnystudio.com/listener for privacy information.