Bloomberg Surveillance · Thursday, July 16, 2026
Brian Belski currently favors US markets due to a slight slowdown and strong dollar, but anticipates the dollar will moderate, unlocking value outside the US. He notes that the war in Iran initially halted dollar weakness but believes the Fed's easing path could lead to dollar moderation.
“I would be still favoring the US here because of some weakness, because of some slowdown here. You're still a little bit of strong dollar on the macro side. So that's a short term view. Ultimately, I think the dollar is going to moderate.”
“What really stopped that dollar weakness story was the war in Iran. If you get the FED back on its easing path, I think the dollar can moderate.”
“What that starts to do is unlock more of the value outside the US.”