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

In this episode, we feature a conversation with Steven Englander.

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- Ellen Zentner, Global Head: Macro Investing Wealth Management at Morgan Stanley
- Jim Bianco, founder at Bianco Research
- Eric Resnick, CEO at KSL Capital Partners
- Tobin Marcus, Head: Policy & Politics at Wolfe Research

Ellen Zentner, Global Head: Macro Investing Wealth Management at Morgan Stanley, joins to discuss her outlook for the labor market and a September rate cut. Jim Bianco, founder at Bianco Research, discusses whether the Fed is behind the curve as the labor market shows continued weakening. Eric Resnick, CEO at KSL Capital Partners, discusses consumer health and the outlook for travel. Tobin Marcus, Head: Policy & Politics at Wolfe Research, talks about the prospects of a government shutdown and President Trump's economic and political priorities.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneySeptember 8th, 2025
Featuring:
1) Steve Englander, Global Head of G10 FX Research and of North America Strategy at Standard Chartered, brings us into the market open and talks about a weak dollar, tomorrow's labor revisions, and his call for a 50bps cut in September. Meanwhile, strategists including David Kostin of Goldman Sachs and Mike Wilson at Morgan Stanley expect further gains in US equities, with Kostin reiterating a year-end target for the S&P 500 of 6,600 points.
2) Mark Geller, Global Head of Bank Debt Capital Markets at Barclays, talks issuance trends for banks, global corporate debt, and the intersection of global corporate debt and ballooning government spending.
3) Henrietta Treyz, co-founder at Veda Partners, joins to talk about tariffs and the prospects of a government shutdown in September.
4) Stephen Carroll, host of Bloomberg's "Daybreak Europe" in London, joins from Paris to discuss the possible collapse of the French government today. Political uncertainty in Japan and France adds to a torrent of US data this week that will help determine the Federal Reserve's policy path, with a September interest-rate cut fully priced in.

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