Episode summary
Bloomberg Surveillance TV: June 10th, 2026 | Bloomberg Surveillance
Bloomberg Surveillance
· · 22 min · Hosts: Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr · Guests: Steve Chiavarone, Dan Ives, Tiffany Wilding
Summary
Stocks were weaker after a volatile session, and the guests argued that the near-term market wobble is being driven more by non-fundamental pressures than by a break in the underlying bull case. One guest said summer volatility could come from equity capital raising, portfolio rebalancing, and an inflation report that may show the biggest month-over-month jump, but still viewed any pullback as a buying opportunity because margins are expanding and the economy is still benefiting from a historic infrastructure buildout.
On inflation, the discussion centered on whether the latest price surge is a demand problem or a supply shock. The guest from PIMCO said higher energy prices, tariffs, and AI-related buildout costs are pushing prices up, but not in a self-reinforcing wage-price spiral, and that the Fed can likely look through some of it. She said the central bank is likely to stay on hold and may drop forward guidance, while the host pressed on credibility and the fact that inflation has been above target for years.
Dan Ives argued that the AI and data-center spending boom remains intact despite short-term concerns around SpaceX and other capital raises. He said the market is now seeing monetization in chips, data, and software, and kept a bullish outlook on big tech, semis, and the Nasdaq. Across the segment, the common thread was that policy and supply shocks may create noise, but investors should focus on AI capex, earnings, and margin expansion.
Key takeaways
- The equity pullback was framed as a volatility event, not a thesis break, with one guest calling it a buying opportunity amid strong margin growth.
- The guest from PIMCO said the latest inflation spike is mostly supply-driven, not a self-reinforcing wage-price spiral.
- The Fed is expected to stay on hold next week, and may remove forward guidance to signal two-sided risks without committing to hikes.
- Dan Ives said the AI capex cycle is still early and continues to support chips, data infrastructure, and large-cap tech.
- One guest argued the consumer bottom of the K may improve as job growth strengthens for lower-income workers.
Notable quotes
“we would see any volatility as a buying opportunity”
“I think you're going to see the Fed likely on hold”
“we think as of right now that means you know they they are on hold for for the next little bit”
How the episode opens
Bloomberg Audio Studios podcasts radio news. This is the Bloomberg Surveillance Podcast. I'm Jonathan Pharaoh along with Lisa Abramitz and Amarie Hordern.
Join us each day for insight from the best in markets, economics, and geopolitics. From our global headquarters in New York City, we are live on Bloombo television weekday mornings from 6:00 to 9:00 a.m. Eastern.
Subscribe to the podcast on Apple, Spotify, or anywhere else you listen. And as always on the Bloomberg terminal and the Bloomberg Business app, we begin this hour with stocks extending losses following a very volatile session. Steve Chevro federated calling it the storm before the calm, writing, to be clear, we would see any volatility as a buying opportunity.
Steve joins us now for more. Steve, good morning. Good to see you.
What do you think is behind the latest fragility, the latest wild swings for tech stocks? Yeah, let me let me just say I'm not coming from either Rio or Cord side of the Knicks game. I'm fresh off the New Jersey turnpike um where traffic has been insane coming into the city which is I think a sign of actually strong consumer demand.
But look, I I think there are a lot of non-fundamental factors that are going to interfere with markets and cause volatility over the summer. People need to make room in their portfolios for all the equity capital that's being raised, including SpaceX pension funds and kind of investors that are targeting allocations. Equities have run so hard over the last quarter.
Fixed income has struggled so much that there's going to be a rebalancing trade very likely that I think will interfere with markets inflation. I think today's inflation report is going to mark the worst of the worst. This is going to be the biggest jump on a month over month.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- world markets
- economy
- investment strategy
- equities
- technology research
Companies and tickers mentioned
- Federated Global Investment Management
- Wedbush Securities
- PIMCO
Watch the episode
Watch “Bloomberg Surveillance TV: June 10th, 2026 | Bloomberg Surveillance” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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