As Big Tech surges toward trillions of dollars of planned AI spend, a key cog in credit markets is showing signs of pressure. Bloomberg’s Tom Mackenzie explains.
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David Bianco of DWS says long-term Treasury yields and real rates have climbed to some of their highest levels in nearly 25 years, but he argues inflation is not the main driver. The bigger issues are structural: US deficits above 6% of GDP, a rising total debt-to-GDP ratio, and the need to fund more borrowing domestically as foreign demand becomes less reliable. The US still benefits from the dollar’s safe-haven status, but Robin Brooks of the Brookings Institution and former Dutch Finance Minister Sigrid Kaag warn that America’s fiscal path remains dangerous even if its “exorbitant privilege” gives policymakers more time before markets force discipline.
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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day.

Chapters:
00:00 Warsh Rate Bets, $90 Oil and Nvidia’s AI Boom
04:04 Consumer Slowdown Could Surprise the Stock Market — Bob Elliott, Unlimited Funds
17:49 US Has Few Options on Iran Without Confronting China — Jon Lieber, Eurasia Group
31:26 US Slowdown Risk Isn’t Priced Into Markets — Erik Nelson, Wells Fargo
39:36 Markets Are Overreading Warsh’s Hawkish Signal — Andrew Hollenhorst, Citi
52:26 Nvidia Says the AI Spending Slowdown Isn’t Coming Yet — Sarah Hunt, Alpine Saxon Woods
1:07:14 Data Center Boom Is Making Energy Investable Again — Sarah Hunt, Alpine Saxon Woods
1:17:25 Venezuela Deal a Bit of a Sideshow for Oil — Paul Sankey, Sankey Research
1:28:13 Fed Has a ‘Kill Switch,’ Not an Inflation Dial — Blake Gwinn, RBC Capital Markets
1:40:34 A Third of S&P Earnings Growth Comes From Two Stocks — Liz Ann Sonders, Charles Schwab
1:54:30 Higher Rates Won’t Fix Today’s Inflation Problem — Gregory Daco, EY-Parthenon
2:01:52 Nvidia Investing $3.5 Billion in Chipmaker MediaTek — Ed Ludlow
2:04:23 AI Infrastructure Spending Can Run Through 2030 — CJ Muse, Cantor Fitzgerald
2:18:13 Bonds Can Diversify Again — If Investors Think in Years — Matt Diczok, Merrill and BofA Private Bank
——–
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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day than “Bloomberg Surveillance.”

Chapters:
00:00 Fed Hike Debate, Iran Escalation and Yen Intervention
03:53 Rate Hike Cycle Could Threaten the Bull Market — Keith Lerner, Truist Advisory Services
19:12 Iran War Could Escalate After the Midterms — Ed Mills, Raymond James
31:48 BOJ Hikes Are the ‘Only Thing Left’ for Yen — Jayati Bharadwaj, TD Securities
42:17 Wage Growth Isn’t Fueling Inflation — Nela Richardson, ADP
54:29 Investors Hate Bonds Before They Love Them — Emily Roland, Manulife John Hancock Investments
1:06:24 Data Center Backlash Is Reshaping Politics — Adam Hodge, Bully Pulpit International
1:21:08 Companies Are Hoarding Workers, Waiting for Growth — Steve Odland, The Conference Board
1:30:41 Waller May Be a Better Fed Guide Than Warsh — Tony Rodriguez, Nuveen
1:40:30 The Economy May Be Too Small for the AI Buildout — Ohsung Kwon, Wells Fargo
1:52:23 Higher Rates Could Cap AI Stock Valuations — Frank Lee, HSBC
2:00:57 Waller Says August CPI Is Key to Rate Decision — Michael McKee
2:06:58 Consumer Spending Is Stronger Than It Looks — Michelle Meyer, Mastercard Economics Institute
2:17:14 AI Is Still Overpowering Higher Rates — Abby Yoder, JPMorgan Private Bank
——–
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Insight with Haslinda Amin, a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the stories that matter. The show features prominent leaders spanning the worlds of business, finance, politics and culture.

Chapters:
00:00:00 – Insight with Haslinda Amin Begins
00:01:06 – Asian stocks advance as oil slips, yen in focus
00:01:58 – Yen’s spike leaves traders guessing about intervention
00:02:53 – Japan’s 30-year bond auction risks adding fuel to debt sellof
00:04:44 – Farro Capital CIO Hamza Ayub on dollar exposure and currency hedging risks
00:17:01 – Trump to levy more chip tariffs, exemptions for US manufacturing
00:19:19 – Zeiss SMT CEO Frank Rohmund says China 15 years behind in chipmaking tools
00:24:10 – Trump says Iran strikes to be short, asserts Hormuz control
00:28:07 –
00:28:12 – Gold holds gain as Trump’s war comments ease inflation jitters
00:28:42 – UBS Investment Bank strategist Joni Teves on demand for gold
00:36:31 – Japan’s 30-year government bond auction sees stronger demand than 12-month average
00:39:40 – India’s foreign inflow recovery faces yield threat
00:43:01 – India diaspora flows hit $127 billion, 1.5 times above estimate
——–
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