Andrew Yang, Brooke Sutherland, Susanna Palmer discussed on Bloomberg Opinion
20 series deficit to win it in six will face the Phoenix Suns of the Western Conference final after a year hiatus because of the Covid 19 pandemic. Make the college World Series gets underway today in downtown Omaha. All Julia Martino reports Stanford takes on North Carolina State at one o'clock this afternoon to kick off the series than defending champs. Vanderbilt Face Arizona at six o'clock tonight. On Sunday. Tennessee plays Virginia in the early game as Texas squares up against Mississippi State to wrap up the first weekend of play in the evening game. I'm Cameron Fairchild. And I'm Susanna Palmer in the Bloomberg News Room. A big week ahead in New York City politics. Early voting for mayor and other races ends tomorrow and primary date is Tuesday. Ahead of that, in an interesting alliance, Former Sanitation Commissioner Catherine Garcia and entrepreneur Andrew Yang agreed to campaign together today in each other's political strongholds. The team up aims to take advantage of the dynamics of the city's new election system, which allows voters to rank their choices at the expense of the front runner, Brooklyn borough president Eric Adams. You can hear coverage of the primaries Tuesday, starting at seven PM here on Bloomberg Radio. Investors are still heading for the exits at Renaissance Technologies, pulling $11 billion from the quant giant in seven months. More from Bloomberg's Charlie Pellet, according to investor documents seen by Bloomberg. Disgruntled by sub par returns, clients have now redeemed or asked, redeem more than a quarter of the capital. That Renaissance manages in hedge funds with outside money from December to February, clients polled or asked to pull about $5 billion from the funds. That was followed by about six billion more through June, according to the documents. While redemptions peaked in April, they did slow in May and June Charlie Pellet Bloomberg radio. Investors are still trying to figure out their next move following the Federal Reserve's signal this week that it may raise short term interest rates twice by late 2023. That's earlier than expected. Matt Horne back is head of global macro strategy at Morgan Stanley At the last press conference, Powell essentially paid lip service to inflation and focused a lot on the labor market. I think he did the exact opposite. Earlier this week, he paid lip service to the labor market and spent a lot of the time focusing on inflation. For the week. The S and P 500 was down 1.9%. The Dow fell. 3.5% and the NASDAQ fell 3/10 of 1% this week. Global News 24 hours a day on air and on Bloomberg Quick take powered by more than 2700 journalists and analysts and more than 120 countries. I'm Susanna Palmer. This is Bloomberg Bloomberg opinion informed perspectives and expert data driven commentary on breaking news. Welcome to Bloomberg opinion on Bloomberg Radio. Bring your news comments and insights from Bloomberg opinions worldwide Team of editors and columnists. I'm your host June Grosso this week Should Supreme Court justices retires strategically also on the show why the housing bubble may be ready to burst. Plus how high job turnover has left a trail of orphan retirement accounts. But first, the pandemic virtually stopped global travel and with it paused the careers of many in the aerospace industry. And despite the industry opening back up, getting employees to return to the workforce will be harder and more expensive for airlines and manufacturers. That's according to Bloomberg opinion columnist Brooke Sutherland, and she's here to explain At this time last year. Where were aerospace manufacturers? And where are they now? They were drastically trying to figure out the future of their business. Quite frankly, I mean, you know, air travel had all but come to a standstill. There was no end in sight really for the pandemic, and we just weren't sure what exactly we were dealing with and you know, there's a natural lag between any kind of recovering air travel, and when the airline feel like they're ready to buy planes again. I think that also brought a lot of pessimism in the aerospace manufacturing sector. But stop forward and the air travel recovery has been much faster than anyone anticipated. There's still a divide we're seeing, you know, stronger demand domestically within the U. S. And also within China. International travel still remains fairly weak and offer you know those countries that are still Dealing with devastating covid outbreak also are not seeing a ton of demand right now, but it is coming back. And that is translating into aircraft orders. Which is sort of incredible when you think about it. And you know, some of these airlines are probably getting decent prices because they're looking at the Boeing 7 37 Max, which is of course, recovering from it don't crisis But you are seeing airlines really be interested in getting planes again. And that raises the question of okay. Well, you know, can these companies actually make Jeff now what about supplies? There are problems with supplies before the pandemic. There were and so you know, pre pandemic air travel was sort of on this seemingly unstoppable trajectory upward where it was growing. Every year. We have more and more people coming into the middle class. More people placing a premium on travel and experiences over stuff and you know, when you talk to analysts, investors in the sector they expect that we will eventually get back to that long term trend and pre pandemic before we had this devastating part in that trajectory and supply chain was struggling to keep up following an Airbus We're cranking up production of their Marquis jets and the supply chain was really struggling with that, and that was a big concern. And so I think, as we think about Getting into the recovery safe and having Boeing and Airbus start to increase their production. Eventually, they want to make sure that their supply chain is in a place where they can actually do that. With the job market the way it is, will they be able to fill those jobs where they have to pay more? I think that's a very fair question in this one that I don't think manufacturers are thinking enough about quite frankly and you know, for perhaps a good reason. They've just gone through this incredibly traumatic experience, and they are probably thrilled to be talking about a recovery and worried about keeping up with production rather than you know, having to continue cutting The pace, which you know, not that long ago, it was something that people wonder did Boeing and Airbus cut production enough. So look, I mean, this is a good problem to have, But I do think when you look at the labor market here about all of the companies are complaining of labor shortages. Manufacturers like Dover and carrier to restaurants and hospitality industry. Now those are obviously very different jobs that there is a huge number of unfilled positions right now relative to the unemployed workforce. And I think the idea that inherits the company can just go out into the labor market and get the people that it needs is not going to be that simple, Quite frankly, and I think they're going to have to pay up..