Bloomberg Surveillance: The Fed Decides 4/29/2026

Смотреть на YouTube ↗  |  29 апреля 2026, 22:27  |  2:12:13  |  Bloomberg Markets
Спикеры
Bob Michele — Директор по инвестициям и глава глобального фиксированного дохода, J.P. Morgan Asset Management
Kate Moore — Глава отдела тематической стратегии, BlackRock
Jim Bianco — Президент, Bianco Research
Jeffrey Rosenberg — Старший портфельный менеджер, BlackRock
The Federal Reserve held rates unchanged with four dissents, the most since 1992. Chair Powell indicated he will stay on as governor, citing threats to Fed independence. Brent crude neared $120 and front-end yields rose. Guests discussed short duration, avoiding 2-year bonds, and long oil positions. - Fed leaves rates unchanged at 3.5-3.75% with 8-4 vote. - Three dissenters wanted to remove easing bias; one wanted a cut. - Powell says he will remain as governor until legal attacks on Fed are resolved. - Brent crude oil approaches $120 per barrel on Middle East tensions. - Front-end Treasury yields jump, 2-year at 3.93%. - Equities little changed, focus shifts to Big Tech earnings. - Guests express bearish view on 2-year bonds and short duration. - Oil forward curve suggests elevated prices through year-end.
Идеи
Bob Michele Директор по инвестициям и глава глобального фиксированного дохода, J.P. Morgan Asset Management 37:00
Avoid 2-year Treasuries due to hawkish Fed.
Bob Michell advises against buying 2-year Treasuries because the Fed has shifted to a more hawkish stance, the economy still has stimulus, and the Middle East conflict remains unresolved, making the front end unattractive.
2-Year US Treasury Yield Выс.
Kate Moore Глава отдела тематической стратегии, BlackRock 42:02
Short duration as bonds not safe haven.
Kate Moore recommends being short duration because the correlation between bonds and equities has broken, and bonds are no longer the safe haven they once were, so risk should be taken on the equity side.
US Treasury Duration (via futures or ETFs) Выс.
Kate Moore Глава отдела тематической стратегии, BlackRock 43:30
Long U.S. large-cap equities.
Kate Moore remains anchored to U.S. large-cap equities, citing extremely strong earnings and free cash flow from large-cap parts of the market, despite dispersion below the surface.
SPY Сред.
Jim Bianco Президент, Bianco Research 122:14
Long oil, prices stay elevated.
Jim Bianco expects oil prices to stay elevated through year-end, as the December crude contract is making new highs and there is no resolution in the war, supporting a long position in crude oil.
USO Выс.
Jeffrey Rosenberg Старший портфельный менеджер, BlackRock 130:05
Buy front-end Treasuries for value.
Jeffrey Rosenberg sees value in buying front-end Treasuries after the recent yield move, citing that incoming Chair Kevin Warsh is likely to take a more dovish interpretation, making the front end attractive.
Front-End US Treasuries (2-year or 5-year) Сред.
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This Bloomberg Markets video, published April 29, 2026, features Bob Michele, Kate Moore, Jim Bianco, Jeffrey Rosenberg discussing 2-Year US Treasury Yield, US Treasury Duration (via futures or ETFs), SPY, USO, Front-End US Treasuries (2-year or 5-year). 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Bob Michele, Kate Moore, Jim Bianco, Jeffrey Rosenberg  · Tickers: 2-Year US Treasury Yield, US Treasury Duration (via futures or ETFs), SPY, USO, Front-End US Treasuries (2-year or 5-year)