Katie Greifeld, Barclays, Eric Belt discussed on Bloomberg Markets

Automatic TRANSCRIPT

Right great Jared good stuff All right let's do a macro minute here at 1102 Wall Street time We can do that with Katie greifeld markets reporter for Bloomberg when he got Katie Again this is loosely macro I'm gonna talk to you about exchange traded notes because there was a fascinating announcement from Barclays today The bank said that it's launched more than 15 billion more notes over the course of about a year than it had registered for And it didn't explicitly mention two ETNs but on March 14th we had seen in S&P 500 vix short term futures ETN and a crude oil ETN basically halt And so you tie that back together and it starts to make a lot more sense about what's going on and because of this Barclays is expecting to take a hit of nearly $600 million which is just amazing but what's more amazing to me is that this vix note in particular ticker vxx it's still trading in secondary markets It's trading at a nearly 24% premium to its net asset value right now And it just goes to show that strength treated notes they're not ETFs and you can see weird things like this happen Who buys exchange traded notes Is that a retail product So it's not supposed to be a retail product but retail traders do buy it and it's very risky Yeah I was going to say people who don't read Eric belt units as research Has a red light in the Bloomberg intelligence traffic I know to stop them Eric has taught me well there It does have a red light Why are you so focused on ETFs On ETFs Yeah Well part of the reason I love them The second part of the reason is that we anchor a great show together We co anchor an ETF focused show Really Yeah Every Monday at 1 p.m. Okay that would be on Bloomberg television On Bloomberg TV but also on Bloomberg dot com As I was hitchhiking with Bill this weekend Okay Bill is the home improvement guy who picked me up Thank you Goodness On the side of the 22 Yeah yeah He said what do you do And I told him you know where I work and Stephanie said I would watch you but I don't have cable Wow And I said Bill Bill No one has cable Come on man You can just watch on Bloomberg dot com And you can watch Katie's quick take show on Bloomberg dot com as well You can Yeah Bloomberg dot com slash QT slash live coming up at 12 p.m. With mister Tim Steiner is that Tim stenson All right very good Thank you so much We appreciate that All right I need to get down to Joe Matthew He's down in Washington D.C. for Bloomberg news he's on Washington correspondent and host of Bloomberg sound on You can get that weekdays 5 p.m. Wall Street time Joe did a president mean to say regime change in Russia Great question Now that we've had a couple of days to think about this I just keep going back to the tear down this wall speech Because it was famously not in the speech I remember talking to Ed Rollins about this who was president Reagan's political adviser at the time he was in the car with him on the way to that address The State Department had pulled that line out because they thought it would be too inflammatory Ronald Reagan got up the podium he put it back in as you heard Sure Now realizing this was good But was Joe Biden thinking about that It was that type of thing on his mind we knew and we talked about this together last week before he went to visit the refugee camp that he's an emotional guys frequently driven by what he sees and it was only hours earlier that he was dealing with this in Warsaw meeting with refugees holding babies in his own arms the day after he shared pizza with the troops and he just decided to go for it I'm pretty actually pretty interested to see the cleanup act that continues now two days later Vladimir Putin I suspect wouldn't have had to clean up what he was saying here but this is a White House that's deeply concerned about escalating this war So here we are You can't also forget I feel like every one who's talked about this kind of dismisses the fact that he called Putin a butcher Earlier And so you can't say we're not calling for regime change We're perfectly happy that there's a butcher running Russia right I think it's more about who's going to do it right As he said no I'm not we are not the ones who are forwarding regime change That's up to the Russian people But yes to your point you call them a pariah You call them a butcher and you called him a war criminal Those are three disqualifying that's kind of clear where we are on this But that's also curious to me why as Donald Trump is using F words at the podium at a rally on Saturday night why this became such a major story I thought Trump didn't swear Oh I've got the video for you my friend Wow I thought big old tea totaler and didn't in any case you know this I love the way this Biden story goes up against Stephanie baker's piece on Mikhail Friedman the Russian billionaire the Russian oligarch who's been hit so hard with sanctions The idea that he.

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