Bob Manning, Mark Eldorado, Hedge Funds discussed on Bloomberg Markets

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Arctic that's the wall street reaction to passage of the tax cuts investors have been so eagerly anticipating since the 2016 election the dow fell twenty eight points the nasdaq three the s p to bob manning of morgan stanley says investors have moved on to the next stage now gauging how the tax cuts will play out now because now the implementation out the reality and what we're going to be inevitably is stocked being rewarded or not but the phone company that's battling the trump administration over its plans to buy time warner is celebrating this presidential victory at t says it will give two hundred thousand us workers a special thousand dollar bonus to celebrate the tax cuts bloomberg news reports the payout as part of an effort by corporate america to counter criticism at the tax cuts will benefit shareholders not workers i'm joan doniger bloomberg radio this is your bloomberg real estate report i'm denise pellegrini what will the gop tax overhaul do for the housing market it'll be negative for a house prices are you know particularly in the northeastern parts of florida some urban centres in midwest like chicago comes to mind california mark zandi as chief economist at moody's analytics these are areas where homeowners rely on the mortgage interest deduction they rely on deductions for property taxes and sandy says that does mean housing will have less of a positive overall effect on the economy it means that there's less housing wealth and if there's less housing wealth that means people are going to spend less and that was a weight on the economy of course there's a lot of other moving parts here let me stock prices are up so that's a positives wealth effect but if you just focus on the housing part of it it will be a negative because it means less housing well and sandy says the gop tax overhaul will hurt new jersey and connecticut the most and alabama stands to benefit more than any other state and that's your bloomberg real estate report i'm denise pellegrini in that why do hedge funds and other alternative managers rely on pershing mark eldorado.

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