Bloomberg Surveillance

Elisa Martinuzzi, Bloomberg News EMEA Finance & Investing Managing Editor, says margins will remain very thin in Europe for the foreseeable future. Stephen Roach, Yale University Senior Lecturer, says the Trump administration is looking for President Xi to capitulate on his core strategy of innovation, industrial policy, and pan regional leadership. Noah Feldman, Bloomberg Opinion Columnist, and Greg Stohr, Bloomberg Supreme Court Reporter, join to update us on yesterday's Supreme Court decisions. See omnystudio.com/listener for privacy information.

Kathy Fisher, Bernstein Head of Wealth & Investment Strategies, says the economy is strong and they're advising their clients to maintain their allocations. Robert Shiller, Yale Sterling Professor of Economics and Nobel Laureate, observes that the U.S. has a big international diplomacy problem. David Goldman, Macrostrategy President, proposes the U.S. should organize a systematic brain drain by bringing the best tech professionals from China to the U.S. Jane Foley, Rabobank Head of FX Strategy, thinks the dollar is very strong. See omnystudio.com/listener for privacy information.

Enda Curran, Bloomberg News Chief Asia Correspondent, says the U.S. is going to step up its scrutiny of Chinese investment in the U.S. Tony Crescenzi, PIMCO Executive Vice President & Market Strategist, predicts that the global economy will grow about $95 trillion this year. Geoff Dennis, UBS Head of Global Emerging Markets Equity Strategy, says that dollar euro is the best indicator of dollar strength in emerging markets. Deborah Lehr, Paulson Institute Vice Chairman, thinks that President Trump and Xi have a very good working relationship. Karen Ubelhart, Bloomberg Intelligence Industrials Analyst, joins to recap headlines that General Electric is selling its distributed power unit to Advent. See omnystudio.com/listener for privacy information.

Ian Shepherdson, Pantheon Macroeconomics Chief Economist, says uncertainty about the tariff war is proving to be painful. Lisa Shalett, Morgan Stanley Wealth Management Head of Investment and Portfolio Strategies, advises her clients to have the maximum level of diversification in equity markets. Paul Sankey, Mizuho Oil Analyst and Managing Director, observes the global economy is stronger than people appreciate. And Brad DeLong, UC Berkeley Professor of Economics, says the 21st century won't be an American century if President Trump's trade and immigration policies continue.                        See omnystudio.com/listener for privacy information.

Danny Blanchflower, Dartmouth College Professor of Economics, says there are no data which support a BOE rate hike. Wilbur Ross, U.S. Secretary of Commerce, thinks finding workers is the biggest problem for American industry. Daniel Yergin, IHS Markit Vice Chairman, says labor in many markets is very tight. And Susan Lund, McKinsey Global Institute Director of Research, observes corporate debt has tripled in size since the financial crisis.See omnystudio.com/listener for privacy information.

Brian Levitt, OppenheimerFunds Senior Investment Strategist, says a trade war could lead to a stronger dollar. Elizabeth Economy, CFR Senior Fellow & Author of "The Third Revolution", says tariffs are good for shock value but past that, they don't do much. And Bloomberg's Senior Executive Editor for Economics Stephanie Flanders hosts a panel of central bankers in Sintra, Portugal. We hear from ECB President Mario Draghi and Fed Chairman Jerome Powell.See omnystudio.com/listener for privacy information.

Torsten Slok, Deutsche Bank Chief International Economist, asks what the Chinese retaliation may look like against U.S. tariffs. Vince Reinhart, Standish Chief Economist and Investment Strategist, thinks the Fed may have a problem knowing when to stop hiking rates. Edward Alden, Council on Foreign Relations Bernard L. Schwartz Senior Fellow, says the U.S. is on the verge of a trade war with all of its trading partners. And Suzanne Tager, Bain & Company's Retail and Consumer Products Practices Senior Director, says retail stores are not dead but their role has changed.See omnystudio.com/listener for privacy information.

Mary Lovely, Peterson Institute Senior Fellow & Syracuse University Professor, says the Chinese economy has opened up quite dramatically. Doug Peebles, AB CIO of Fixed Income, says investment grade average credit quality has never been as low as it is right now. Carlos Gutierrez, Former U.S. Commerce Secretary, thinks the current immigration policy is not good for the U.S. And Paul Sweeney, Bloomberg Intelligence Director of North American Research, updates us on media mergers.See omnystudio.com/listener for privacy information.

William Lee, Milken Institute Chief Economist, says the U.S. is going to be the engine of growth for the global economy. Gideon Rose, Foreign Affairs Magazine Editor, ponders if U.S. trade policy is going to mimic the Iran or the Korea model. Priya Misra, TD Securities Head of Global Interest-Rates Strategy, says the curve is still the single best indicator for a recession. And Craig Moffett, MoffettNathanson Founding Partner, says historically, Comcast is not comfortable with large amounts of debt.See omnystudio.com/listener for privacy information.

Robert Sinche, Amherst Pierpont Securities Global Strategist, says the current U.S. administration has done a lot to stimulate the economy. Jane Foley, Rabobank Senior Currency Analyst, thinks many central bankers are assuming that wage inflation will rise.Richard Greenfield, BTIG Media and Technology Analyst, says changes in consumer behavior are spurring rapid consolidation in media. David Rubenstein, The Carlyle Group Co-Founder & Co-Executive Chairman, predicts we'll see more media transactions of size getting done quickly. See omnystudio.com/listener for privacy information.