Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with David Rosenberg & Alicia Levine.

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- Jason Thomas, Head: Global Research & Investment Strategy at Carlyle Group
- Francisco Blanch, Head: Global Commodities & Derivatives Research at Bank of America
- Gregory Daco, Chief Economist at EY Parthenon
- Vishal Khanduja, Head: Broad Markets Fixed Income at Morgan Stanley Investment Management

Jason Thomas, Head: Global Research & Investment Strategy at Carlyle Group, joins to discuss the outlook for US markets and inflation as well as Fed independence. Francisco Blanch, Head: Global Commodities & Derivatives Research at Bank of America, talks about tariffs on copper and opportunities in commodity markets amid volatility. Gregory Daco, Chief Economist at EY Parthenon, joins to discuss the outlook for inflation and labor in the US. Vishal Khanduja, Head: Broad Markets Fixed Income at Morgan Stanley Investment Management, discusses bond market signals on the US economic outlook.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 25th, 2025
Featuring:
1) David Rosenberg, Founder and President Rosenberg Research & Associates, joins for a discussion on rates, US inflation, and the importance of Fed independence. Federal Reserve Chair Jerome Powell is under attack by President Trump, who is using a "flood the zone" strategy to pressure the Fed to lower interest rates. Trump's approach involves personally attacking Powell, questioning the Fed's spending, and discussing potential replacements, according to the article.
2) Brian Wieser, Principal at Madison & Wall, talks about the Skydance-Paramount deal getting FCC approval. The US Federal Communications Commission approved Paramount Global's merger with Skydance Media after the Trump administration extracted concessions on the news and entertainment company's political coverage and diversity practices. As part of the accord, Skydance vowed to ensure that the new company's programming embodies a diversity of viewpoints from across the political and ideological spectrum, according to FCC Chairman Brendan Carr.
3) Alicia Levine, Head of Investment Strategy and Equities at BNY, discusses her S&P 500 target and talks the pain trade and surprises to the upside. Stocks dipped at the end of a record-setting week after lackluster results from Volkswagen AG and Puma SE. Goldman's trading desk wrote in a note to clients "If you are nervous, the market is making it very easy to rent hedges" as a slew of risks loom over the market's record advance.
4) Marta Norton, Chief Investment Strategist at Empower, on asset allocation and potential for market volatility in the second half of 2025.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including an NYT story on the divided New York family, as young voters who supported Zohran Mamdani persuade their parents to do the same, as well as Business Insider's story on how people can Venmo the US government to help pay down the debt.

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