China, Kevin, National Basketball Association discussed on Bloomberg Surveillance


And I would have the National Basketball Association to that list a cz well and Jonathan. I think right. There is the hurdle that Democrats and Republicans faces in terms of the mass education that would require for there to be a significant consumer sentiment shift. As it relates to several of these industries, whether it's athletics, entertainment or or our intellectual property, But just one more quick point that I would maybe there in terms of based upon my reporting, which is this is Just the first step on DH. There is three fold the amount of legislation that has been introduced in this Congress alone as it relates to China as it relates to raining them in on. We should note that from an economic standpoint just earlier this week, the Treasury Department issuing sanctions against the Chinese firm in Cambodia Which had been posing a CZ, a manufacturing company but ultimately was trying to design a military base. So the one about one road expansionary policies of China, whether it's in Africa or elsewhere around the world eyes now very much on the sanctions and restrict restrictions lists that the that the government the federal government is development. Kevin's really see in the next hour. It's every hour, Kevin so really our chief Washington Correspondent to go from Bill Ferries over national security to Kevin. So, really, we're pleased to tell you, David Kirkpatrick was a Facebook effect in one of our great technologist will join us here in a number of minutes were to squeeze in nearly Farage of State Street, head of macro strategy. And, of course, Lee Farage. I go to Daniel Jurgens. The new map, which is we're living in a new world. You and I never would expect. That they would rip something like we chat away with us on national security in all, how does that change macro strategy? Oh, I mean, I think from a macro strategy perspective, geopolitics is not being a focus of macro strategy for for 2030 years until essentially the Brexit vote. That's when the game changed. We had the Brexit vote and then see the surprise election here. You know, the rise of populism suddenly geopolitics, master, and now we've got this pushback against globalization that arises. You just discussed. This isn't just coming from Republicans. Democrats are on board with that as well. So, yeah, 20 years or so we didn't need to worry about your politics. Now we worry about that little else. Quite honestly. Willie, this is coming at a time of tech dominance for the tech stocks have been the absolute leaders and they also are at the forefront of the increasing tensions between the U. S and China. Looking at Apple shares premarket. They've almost given up all their pre market gains. On the heels of some of these headlines does the potential escalation of us China's tensions threatened the thesis of the big global tech stocks that have done the best? It does to an extent. Um, I don't believe I mean, I didn't believe anyone thinks that we will see a major trade war ahead of the election. Now post election It could get worse. But for the next six or seven weeks, it's probably likely to be a game or rhetoric than anything else. And I think The problem with the tech stocks as you mentioned. Listen, we've got a long way. I mean, evaluations are equity people might be other justify the moment Micros trashes. I looked at them and I struggle with it. You know, the NASDAQ is up 83%. Since the lows in March to its peak, it was 82% 64% up now now is that close to all time highs. All these shares all type eyes. We're in the middle of a pandemic. We're in recession. We have huge amounts from certainty. We have the election coming up. You know, the focus post election is going to be more on domestic I A D globalization trend. And yet these stocks continue to go higher, fueled by zero interest rates by the side access liquidity, extremely negative railways. And that's why these stocks go up. But then when you get the sort of levels the volatility is going to go up, and that's really what we've seen over the last couple of weeks is when you get these news stories. Now we're going to see volatility increased nicely. The next 67 weeks out of the election, we're going to see much more sideways markets much more volatile market evaluations have gone So far that that uncertainty now has to play into it or not saying well necessary. Start selling off aggressively because that liquidity is still down. We've got the ultra dervish message from the feds. Don't expect a smooth path up that we've been used to. For the last few months. This is going to get much more volatile. We've seen that shop in some of the last few weeks. Late apologies to keep this one short grey to catch up with you, as always, courage there of stay street in this market right now. Equity futures doing absolutely nothing Some, but I think many people will be with Aly going into the election. Things going get shopping. They have been for the last three weeks and the key determinant just to go away from the story before we get to David Curb actor John what Jim, Karen said is absolutely critical. How will this be expressed in the real yield in a negative 1.1? No. Any breakdown there to new territory would be to me a key determinant. I'll tell you at one Eastern on Bloomberg TV from the Oxygen Landa Good morning running our.

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