Bloomberg Surveillance

Tony Dwyer, Canaccord Genuity Chief Market Strategist, says he would not bet against the market and that this is a good time to remain neutral. Federal Reserve Bank of Cleveland President Loretta Mester says it’s going to take time for economy to reopen and that it needs to be done very carefully. Dr. Andrew Pekosz, Johns Hopkins University Bloomberg School of Public Health Professor and Virologist, says that right now there really is no good evidence to suggest that people are getting reinfected after their first exposure. Jared Bernstein, Center on Budget and Policy Administration Senior Fellow and Former Economic Adviser to Vice President Joseph Biden, says the U.S. is very behind the curve on testing for COVID-19.See omnystudio.com/listener for privacy information.

Savita Subramanian, Bank of America Head of U.S. Equity and Quantitative Strategy, says we're in a fast and furious market. Jason Farley, Johns Hopkins University Professor of Nursing, says we are being very resilient in our efforts to make sure we have enough personal protective equipment. Michelle Meyer, BofA Securities Head of U.S. Economics, says the latest U.S. jobless claims numbers suggest an unemployment rate of 14%-15%. Peter Hooper, Deutsche Bank Securities Global Head of Economic Research, says unemployment is short of Great Depression levels in large part due to the Fed and Congress. Henrietta Treyz, Veda Partners Director of Economic Policy, says the current plan to reopen the economy is a mess because of the White House administration. David Rubenstein, Carlyle Co-Chairman and host of Peer-to-Peer Conversations, discusses his interview with Didi President Jean Liu.See omnystudio.com/listener for privacy information.

Joseph Stiglitz, Columbia University Professor, says Trump's decision to withhold W.H.O. funding is like defunding a fire department in the middle of a fire. Lauren Sauer Johns Hopkins University Assistant Professor of Emergency Medicine, says a coronavirus vaccine for the general public is likely one year away. Ken Leon, CFRA Director of Equity Research, says there is real risk in commercial real estate and construction at this time. Bill Priest, Epoch Investment Partners Executive Chairman and Co-Chief Investment Officer, says don't expect any buybacks by any U.S. bank this year.See omnystudio.com/listener for privacy information.

Tom Michaud, KBW CEO, says he has never seen a recession come this quickly and this hard. Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, warns that earnings season will show collateral damage from the coronavirus pandemic. Jay Bryson, Wells Fargo Acting Chief Economist, says the unemployment rate will not go back to 3.5 percent this year. Michelle Patch, Johns Hopkins University School of Nursing Assistant Professor, details the physical and emotional toll taken on by medical workers during the COVID-19 epidemic. Harry Tchilinguirian, BNP Paribas Head of Commodity Research & Senior Oil Analyst, does not expect a sustained recovery in the oil price until pent-up demand is released in Q3.See omnystudio.com/listener for privacy information.

Federal Reserve Vice Chairman Richard Clarida says the central bank has the tools needed to keep the U.S. out of a deflationary trap, even as the coronavirus deals a severe hit to the economy. Dennis Gartman, Retired Editor of the Gartman Letter, says this is a time to own gold. Betsy Graseck, Morgan Stanley Head of Banks & Diversified Finance Research looks ahead to bank earnings and discusses the metrics she says will matter the most. Dr. Josh Sharfstein, Johns Hopkins University Bloomberg School of Public Health Vice Dean of Public Health Practice and Community Engagement, says people who were reasonably sick from the coronavirus infection and got better are unlikely to get that sick again.See omnystudio.com/listener for privacy information.

James Sweeney, Credit Suisse Chief Economist & CIO Americas, says the Fed is using the most aggressive tools it has to keep money flowing. Kristalina Georgieva, IMF Managing Director, says the world needs massive, well-targeted measures to help combat the coronavirus crisis. Ed Morse, Citi Research Global Head of Commodities, discusses President Trump's options if OPEC+ doesn't reach a deal. Jason Farley, Johns Hopkins University Professor of Nursing, says it is the immune system's response to the virus that is causing the issue, rather than the virus itself.See omnystudio.com/listener for privacy information.

Troy Gayeski, Skybridge Capital Partner Co-Chief Investment Officer & Senior Portfolio Manager, says if the market does not bottom until after Q2, there will be a much longer downside stretch than anticipated. Kathy Hochul, New York Lieutenant Governor, says broad virus testing is needed before the New York economy reopens. Stephen Roach, Yale University Professor, former Morgan Stanley Asia Chairman and former Morgan Stanley Chief Economist, says countries need to be careful about pointing fingers during this crisis. Lauren Sauer, Johns Hopkins University Assistant Professor of Emergency Medicine, discusses how hospitals are handling the surge of coronavirus patients. Paul Sankey, Mizuho Americas Oil & Gas Analyst, says the market will deliver cuts, and they will be deeper than any OPEC+ agreements.See omnystudio.com/listener for privacy information.

Meredith Sumpter, Eurasia Group Head of Research Strategy, says China's global influence will increase during the coronavirus crisis. Gabriela Santos, JPM Asset Management Global Market Strategist, says that the U.S. may be one of the last countries to rid itself of the coronavirus crisis, from a health and economic perspective. William White, Former Chairman of the OECD Economic and Development Review Committee, is fearful that so much money-printing for so long won't re-stimulate the economy after the crisis is over. Ron Temple, Lazard Asset Management Co-Head Of Multi Asset Head of US Equity & Managing Director, says we need to see a continuation of Fed and fiscal stimulus. Alessandro Rebucci, Johns Hopkins University Carey Business School Associate Professor of Economics & Finance, says emerging markets will be put under extreme strain and are much less capable of absorbing the health dimensions of the coronavirus crisis.See omnystudio.com/listener for privacy information.

Charles Kantor, Neuberger Berman Long Short Fund Senior Portfolio Manager, is very bullish on America's recovery, saying there is more than enough federal stimulus for now. Joyce Chang, JPMorgan Chair of Global Research, says revisions on dividends and earnings will continue. Joshua Sharfstein, Johns Hopkins University Bloomberg School of Public Health Vice Dean for Public Health Practice and Community Engagement, says it's important to temper expectations about potential coronavirus treatments. Ted Alden, CFR Senior Fellow & Author of "Failure to Adjust: How Americans Got Left Behind in the Global Economy," says there are a lot of incentives now for countries to pursue more nationalist policies. Martijn Rats, Morgan Stanley Global Oil Strategist, says the oil market is trading at an unusually deep discount.See omnystudio.com/listener for privacy information.

Jeffrey Rosenberg, Senior Portfolio Manager on BlackRock's Systematic Fixed Income Team, believes it will be a long time before consumer behavior and confidence is restored in the U.S. Ellen Zentner, Morgan Stanley Chief U.S. Economist, says a strong social safety net will keep a coronavirus recession from becoming a depression. Larry Kudlow, National Economic Council Director, says he does not expect to see any movements in regards to tariffs right now. Amrita Sen, Energy Aspects Chief Oil Analyst, says no amount of oil supply cut will take care of the demand losses.See omnystudio.com/listener for privacy information.