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Bloomberg Surveillance: Tax Bill and Markets
Bloomberg Surveillance: Tax Bill and Markets

Bloomberg

time02-07-2025

  • Business
  • Bloomberg

Bloomberg Surveillance: Tax Bill and Markets

Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney July 2nd, 2025 Featuring: 1) Jim Caron, CIO: Cross Asset Solutions at Morgan Stanley Investment Management, talks about market uncertainty and the underappreciated upside risk to equities. US equity futures held firm ahead of the June payrolls report and trade talks developments. Markets await the monthly payrolls report, which will offer fresh insight into the labor market and the path of interest rates, with US Treasuries retreating across the curve 2) Dan Ives, Global Head: Technology at Wedbush Securities, reacts to Tesla sales. The company's shares rose 23% in the last quarter despite the expected sales decline, but have since fallen amid a feud between Elon Musk and Donald Trump. 3) Maya MacGuineas, President of the Committee for a Responsible Federal Budget, talk about how President Trump's tax legislation would affect the US debt and deficit. Moderate and ultra-conservative GOP lawmakers have pushed for changes to the bill, citing concerns over Medicaid cuts, spending reductions, and the scale of the tax bill, with some vowing to oppose the bill in its current form. 4) John Gimigliano, Principal and head of the Federal Legislative and Regulatory Services Group at KPMG, on why the tax bill is no slam dunk as it heads back to the House, and who are the winners and losers in the bill. House Speaker Mike Johnson can only afford to lose three Republican votes, and with unified Democratic opposition, the bill's passage is uncertain, despite Trump's public pressure on Republicans to back the bill. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ on food makers rolling out lower prices and smaller package sizes, as well as an NYT story on whether someone is "cool."

Is The Bond Market Panic Overblown And Being Driven By Inexperienced Investors? Morgan Stanley Thinks So
Is The Bond Market Panic Overblown And Being Driven By Inexperienced Investors? Morgan Stanley Thinks So

Yahoo

time29-06-2025

  • Business
  • Yahoo

Is The Bond Market Panic Overblown And Being Driven By Inexperienced Investors? Morgan Stanley Thinks So

President Donald Trump's tariffs have had several unintended effects on the economy, but the unease they have created in the bond market has surprised investors around the globe. The tariffs sparked a bond market sell-off, and there was a second selloff after Congress passed Trump's "big beautiful bill." Concerns over the U.S. budget deficit may have sparked the second sell-off, but a Morgan Stanley (NYSE: MS) executive says the bond market panic is much ado about nothing. Jim Caron, chief investment officer of Morgan Stanley's portfolio solutions group, thinks the current panic is overblown. He shared his opinions on U.S. Treasury bonds with Business Insider after yields hit 4.6% on 10-year bonds and 5.2% on 30-year bonds. That yield spike and accompanying market unease came on the heels of Moody's downgrading America's credit rating. Then the House of Representatives passed Trump's "Big Beautiful Bill," which could add trillions of dollars to the budget deficit. Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Caron said that investors knew about the U.S. government's spiraling debt before Trump's bill passed the House. That's why he doesn't believe deficit concerns will ruin the general perception that U.S. bonds are low-risk investments. He also said that he views investors fretting over the safety of Treasury Bonds as "tourists in the market." 'I wouldn't say that there's a straight line connection to some of the deficit and tax talk,' he told Business Insider. 'And that's kind of what everybody's trying to conflate and put together. I think it would be refreshing to absolutely take a deeper look at that and just say, 'look, the fiscal situation is not new news.'' Caron has enough experience to know investors tend to hit the panic button at the same time. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. Caron told Business Insider that the International Monetary Fund is forecasting that the U.S. budget deficit will only account for 6.5% of the country's GDP this year. That would be an improvement on last year's 7.5%. Caron explained that this is not just a U.S. problem and noted that the U.K., Germany, and Japan also have rising bond yields. His opinion on the fretting about the U.S. deficit is clear. 'The market is creating excess hysteria around it,' he said. Still, there is a growing drumbeat of concern from financial observers that the "end is nigh," for the status of the U.S. as the global leader in business and finance. Caron dismissed those concerns out of hand. It's impossible to know if he's correct, because no one can see the future. However, he is correct in pointing out that some people have been predicting the sky would fall on the U.S. for decades, and it hasn't happened yet. 'I always find it to be a very novice explanation when people say, 'Oh, I think the US is losing its status and the dollar is going to lose its reserve status,'' Caron told Business Insider. 'If that were actually even 1% true, the markets would be selling off in a massive, massive way.' See Next $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Is The Bond Market Panic Overblown And Being Driven By Inexperienced Investors? Morgan Stanley Thinks So originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.

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