Episode summary
Bloomberg Surveillance TV: November 10th, 2026 | Bloomberg Surveillance
Bloomberg Surveillance
· · 21 min · Hosts: Tom Keene, Paul Sweeney, Lisa Mateo, Michael Barr · Guests: Cameron Dawson, Amrita Sen, Tiffany Wilding
Summary
Stocks were described as treading water ahead of tech earnings and a fresh CPI release, with one guest from NewEdge Wealth arguing the market still has room for a rebound. He said positioning has been washed out, valuations are down about 30% year over year, and seasonality could help spark a relief rally if sentiment improves. He also tied the AI trade to the Anthropic IPO, saying its valuation matters not just for investor appetite but for hyperscaler cloud revenue and semiconductor earnings expectations.
The conversation then shifted to monetary policy, where a guest from PIMCO said a hotter-than-expected CPI print puts a 50 basis point December hike squarely on the table. She argued the Fed wants to avoid an unintended easing in financial conditions and may need to keep tightening gradually if inflation broadens beyond energy-related effects. The host also highlighted reports from the CPI details showing stronger prices in food, electricity, transport, and other core categories.
Oil and geopolitics were another major theme. A guest from Energy Aspects said the market may have erased too much geopolitical risk after hopes for an Iran deal faded, but she did not see a true settlement yet. She said gasoline looks seasonally weak, while diesel tightness remains the bigger underlying problem and could set up a very tight summer next year.
Key takeaways
- The host said the market is waiting on tech earnings and CPI, while a guest from New Edge Wealth sees room for a rebound because positioning is unusually light.
- A guest from New Edge Wealth said Anthropic matters because its revenue growth feeds hyperscaler cloud revenue and, in turn, semiconductor earnings.
- A guest from PIMCO said a 50 basis point December hike is now on the table after a 0.3% core CPI print.
- The host and a guest from PIMCO said higher energy costs are starting to show up in broader core goods and services prices.
- A guest from Energy Aspects said the market may have erased too much geopolitical risk in oil, even though a real Iran deal is still not in hand.
Notable quotes
“The market is poised for a rebound and likely still has room to recover thanks to valuations, positioning, and seasonality”
“the biggest support for this market is the fact that people have lost faith in the market”
“the market is now sanguin that the war will end no matter what from the US side”
How the episode opens
Bloomberg Audio Studios podcasts radio news. This is the Bloomberg Surveillance Podcast. I'm Jonathan Pharaoh along with Lisa Bramitz 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 Bloomberg 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 treading water ahead of another round of tech earnings and a fresh CPI print. Cameron Dawson of New Edge Wealth writing, "The market is poised for a rebound and likely still has room to recover thanks to valuations, positioning, and seasonality.
Cameron joins us now for more. Cameron, it seems like it's been kind of a whirlwind and it's not coming down. I just wonder how you see people getting out ahead of the whirlwind to get confidence to to really go back in in a significant way.
I think the biggest support for this market is the fact that people have lost faith in the market. The fact that if you look at positioning, it's fallen now to the 20th percentile in something like the Deutsche Bank consolidated positioning survey, which means that this volatility has been responded to with people exiting the market, not just rotating within. So if we see typical seasonality, which of course tends to be right now that we see it pull markets higher, you have people sitting on the sidelines that potentially have to chase in.
And you've taken a lot of room out of valuations of this market. Valuations are down 30% year-over-year. So it doesn't mean that we need to see valuations expand back up to prior highs.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- global markets
- economic outlook
- investment strategy
- finance news
- market intelligence
Companies and tickers mentioned
- NewEdge Wealth
- Energy Aspects
- PIMCO
Watch the episode
Watch “Bloomberg Surveillance TV: November 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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