China discussed on BTV Simulcast


It was risk of when we started but those data numbers out of five China those trade numbers came out better than expected and then giving some kind of optimism in the markets we have the Chinese CSI three hundred index currently pretty much flat after opening in negative territory we're also keeping a watch on now wants to come into the data out of China because we have a bluemix good suggesting China is deciding whether or not to give a numerical growth target I think I'll coming and PC meeting something has done for decades one economist though they do have a target their fall coughing GDP below two percent for twenty twenty for now although the data given some kind of support for the market it is important for emerging markets which are pretty much I've been taking a cue from China as well taking a look where we are in terms of the P. com does train GDP numbers which came out on it today putting a damper on sentiment there we have growth slowing significantly five point one percent contraction the biggest contraction since nineteen ninety eight and that's of course because of the low down impacting our businesses which were shot impacting consumption as well so that's not boding well for the country the country of course so do to gradually open its economy from may fifteenth on so you know pretty mixed picture when it comes to those sites data from the various countries on yeah and you before was that it was a string of bad data and then China kind of surprises with this positive picture when it comes the export side of things but of course there is some speculation that you know we were hearing from some of our viewers saying that perhaps these are just all the orders that were done maybe back in January or February that perhaps led to that increase in exports of course and my boss's name perhaps also because of the rise and medical supplies as well that may have contributed to that rise as well so a lot of questions of course about that surprise picture that we see because it's the most the data it is looking pretty dire out there of course it is also dated as well so I'll take a look at deal making right now across industries has come to a halt with businesses closing a workers staying home however as more parts of the world re open investors are assessing the outlook for Annonay city institutional clients group chairman Leon Calvario spoke to Bloomberg about what he's calling the interim normal the job has been incredibly busy during this period of time there's no commuting there's nothing that gets in the way sitting around in airports so we have had incredible comic client contact and connectivity here right now and the days are longer you know there's no difference between Monday and Sunday at this point in time they will blend together as I'm sure they do for you and your audience and I've spoken to a lot of folks in your industry who are actually quite enjoying not being on a plane every weekend working from Cape Cod in the Hamptons and I'm wondering you know you've two thousand some bankers if I'm not mistaken under that under your wing that are all working on different types of deals is this going to be more normal for them to just be working from home I think it'll be normal in the interim but to be honest people miss the social and business interaction of being in the office and being with their clients and as you know I travel a lot and there were moments when I could have done less of that but who would have thought that I would say right now I'm dying to get on a plane into a business trip here right now so after eight weeks I think people are tired of working at home but on the other hand it's been very efficient and the interaction amongst all of our partners has been fantastic between do meetings and all the other video interactions people have to really adjusted very well and I think we'll work our way through the central normal and then there will be demand to get back into having you know human interaction both you know flying to places and doing meetings but it'll take awhile for it to get there and then the internet working actually very well so speaking of flying across the world a little earlier this month we spoke to your colleague Manolo Falco over and Europe and one of the things he told my colleagues was that he believed that there will be bigger national champions created in Europe after in light of this crisis but if you look back here in the U. S. the big have already getting gotten bigger right there's some talk about some of the big tech companies potentially looking to deploy more in their dry powder into deals but I what's far at what point does Hart Scott Rodino really start to kick in here right at what point have the big gotten too big in America well I don't think we're at that point here right now and obviously you know HSR ninety trust is alive and vigilant here right now I do think Manolo is corrected you will see you know more European champions and there would be a poor they'll be in for your consolidation and I think you'll see a rising in M. and a activity in the U. S. as some of the large companies consolidate potential weaker players and also depending on the sector take into account this crisis in order to Borden out that business and perhaps be less reliant on any one side that they had so I think that's coming and I think it's going to come in probably three or four months not so early right now but we do believe that you'll start to get a return of this activity as you've seen when you look at the dot com crisis and the eight oh nine there was a gap and then people started to take their heads above the parapet and start to do transactions when they were comfortable with valuations so we'll see it well some of the smaller tech companies were waiting for a public exit with the IPO markets now frozen take Airbnb for example we I know we spoke about it a little before about Airbnb raise money debt and their IPO is now further down the line potentially they also are reportedly considering cutting a lot of staff here the dream that existed for some of the smaller tech companies to enter private markets how much is that died well I think it really depends company by company I don't think the dream is died I think just in some cases the dream is just been put on hold I do believe by the way that the IPO market will start to come back with companies that are suited for this environment you know companies that have done well in this environment or we can project amounts I think you'll see the IPO market coming he Barbie speaking the number of setbacks being issued so I think people going public to specs will increase over the next few months and and going forward here right now and then I think in the cases of the dreams here you know the people that that have formed these companies and one of them are absolutely fantastic entrepreneurs don't manage their way through it and the green will be on hold for six months or a year but it'll come back the people like this hard total optimist and that's what our society is built on Citigroup institutional clients group chairman Leon Calvario speaking to blown back well I want to come including our interview with.

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