35 Burst results for "Bloomberg Television"
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Influential conversations from Bloomberg television. Here's Anna Edwards. Joining us from CBP. What is the lens through which you look at what's going on in China? If we look at data out of China for October and then more recent data in November. I think the pattern has been that the pickup which was expected in the Chinese economy has not yet happened. And it doesn't matter whether you look at retail sales, consumer confidence, the export numbers were particularly weak. So that's not surprising that PBOC cut the reserve requirement last week. So the overall picture, I think, is fairly clear, which is the expected recovery in the Chinese economy has not happened yet. And that is very much contingent on whether COVID restrictions are eased or not. And I think in my own view, is that we are actually going to have what I call a stop start. We're going to go through one week where everybody's more optimistic the COVID restrictions are going to be eased markets rally. Then we have a weak like now where there is social unrest and that social unrest certainly could escalate further and there is concern that the COVID restrictions are not going to be eased and markets fall. So you have a very high correlation between what's happening on the COVID front and what's happening to markets and what's happening to the economy. I think that is a very clear picture. Here, more conversations like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. Further tightly, monetary policy should help restore balance between demand and supply and bring inflation back to 2% over the next few years. It will take some time, but I'm fully competent that will return to a sustained period of price to go. I was John Williams there, the New York
The Trish Regan Show
Biden's Energy Secretary STILL Doesn't Have a Plan
"Here is our secretary of energy talking to my friend Tom Keane on the network. I used to work for Bloomberg television and she's being asked, what exactly her energy plan is, and you need to hear her response. In Sturgis, Michigan, it is $2, 89 cents a gallon. I guess that's better than in California. What is the grand home plan to increase oil production in America? Oh my God. That is hilarious. Wood that I had the magic wand on this, as you know, of course, oil is a global market. It is controlled by a cartel that cartel is called OPEC and they made a decision yesterday that they were not going to increase beyond what they were already planning. So she laughs. The answer is to laugh when you're being asked, your energy secretary, what your energy plan is. And to say, well, I have no control over it because it's all OPEC. Wow, I mean, wow. Do they think we're that stupid? I'll tell you Tom keen's not. He's not stupid, and most of those Bloomberg viewers, Mike Bloomberg never liked it, but it was often referred to as the billionaire's network because a lot of billionaires would tune in. They wanted to know what markets were doing and it's pretty sophisticated place. Again, I worked there many years myself, actually my first job was actually a Bloomberg. I think I'm the only person in Bloomberg's history to have worked there twice, but later went back around, all their political coverage did the market close program there for two years, street smart with Trish Regan. And I can tell you people are hungry, people are hungry for an energy policy. This was actually something that was this Jennifer Granholm interview was actually done almost a year ago. So a year ago, they didn't have a policy. They still don't have a policy today. And instead, they're making this push away from fossil fuels at a time when our country really isn't ready for it.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Influential conversations from Bloomberg television. Here's Tom Mackenzie. Joining us now is David Leighton, CEO of partners group David. Walk us through what some of the key takeaways were for you, what you're seeing in terms of that client demand in this environment of higher rates, recession fears, of course, very high inflation. What we're seeing is a sustained interest in private markets is an increasingly important part of client portfolios. We raise about $13.1 billion of new capital in the first half of this year and increased our management fees for managing those assets by about 18%, which I think demonstrates this sustained demand that people have for private markets, even in an environment like this, where we see volatility. I think one of the benefits of private markets is that we have a very long-term view on the investments that we make. And I think in this current environment where there's so much short termism, that appeals to a certain you see that kind of fundraising that you had in the first part of this year, it can not be sustained. I think it can be, in fact, we have reaffirmed our full year guidance for this year of raising between 22 and 26 billion for the full year, 22. And that is unchanged despite all of the ups and downs and negative data points that we've had throughout the course of this year. Here, more conversations like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. Last
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Bring you the latest, first of all, from commerce bank their CFO patina orlov speaking to Bloomberg television in the past few minutes after the bank reported second quarter earnings that were better than expected net income at €470 million, the estimate had been for under 400 million saying that she's confident the bank can manage 2022 cast headwinds, their costs will be more challenging in years to come, but they have seen some Russia related credit defaults, their full year loan loss provisions will be about €700 million. That's the latest from the CEO of commerce bank we're also seeing some commentary from Nintendo also on the terminal talking about switch production currently behind schedule, seeing a clearer picture though and expecting it to catch up from late summer, of course that's one of the main casualties of supply chain disruption for that company as well. More broadly on the markets, we are two tenths of 1% lower on the MSCI specific index, this air heading into the European trading session we are at one tenth of 1% lower on the stocks 50 futures, S&P E mini futures job positive they were there up by two tenths of 1% of course slowdown fear is playing into the picture around rising U.S. China tangents as well that's driving market moves today on the bond markets the we are seeing European yields move it lower this morning the Italian three year or ten year yield still over 3% down three basis points this morning at three spot zero three oil prices moving a little bit south WTI down by a third of 1% 94 11, the Bloomberg dollar spot index is flat, the gains that we had seen on the Japanese yen being raced during the trading dates now trading at one 33 14. That is your Bloomberg radio business flash now here is Leon garron with more on what's going on around the world. Morning Leon. Stephen good morning and thank you House speaker Nancy Pelosi is reaffirmed U.S. support for Taiwan despite
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Ad council. hoes who know the markets and the economy. Lisa, you're not embarrassed. I mean, Abraham was not embarrassed like I carried away. Almost as well as they know each other. Tom's a little tired. He slept on my couch last night. Thanks Joe. But if you ask slate, appreciate it. Bloomberg surveillance with Tom Keene, Jonathan farrow and Lisa Abramovich. You think the bank is one high race Lisa? Do you think this guy occasionally is blue? We pay mornings at 7 eastern on Bloomberg radio and Bloomberg television. At least 25 people are dead after historic flooding in eastern Kentucky, governor Andy beshear confirmed the new number during a news conference this morning. This is still an emergency situation. We are in search and rescue mode. Again, that account is going to continue to go up and we don't lose this many people and flooding. It's a real tough one. The governor also clarified that four children were among the victims and asked for prayers adding that there are still a lot of people unaccounted for. Bashir pledged, quote, we're going to do our best to find them all. President Biden issued a major disaster declaration on Friday and ordered federal aid to be sent to about a dozen counties affected by the severe flooding. New York governor Kathy Oakley is declaring a state disaster emergency in response to the ongoing monkeypox outbreak, hoku issued the executive order Friday night and says that more than one in four monkeypox cases in the country are in New York State. I'm criss-crossed. And I've done this Pellegrini in the Bloomberg newsroom. Tech stocks are feeling the love again. Amazon shows up 10% yesterday on stronger than expected earnings. More than 3%
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"From Bloomberg television. Here's Anna Edwards and Mark cardboard. Let us get back to shanty killerman Emma G wealth CIO. Do you see infrastructure equities including airports as something to look for at the moment? As an investment opportunity, why are you not put off by all the disruption? Well, it just shows how much demand there is for it, right? I mean, that's the story. And then there's the stories behind it about people being on furlough during COVID, not coming back online, background checks needed and taking a lot of time. There's all that there. But I think the underlying infrastructure story is there's a lot of things in our society, you know, like airports, roads, utilities, hospitals, schools, those things that we use regularly. They tend to have their revenue streams are predictable. They're often linked to inflation. And it's a decent safe haven in today's environment where bonds a bit iffy on future interest rate rises, equities are volatile and it's something that looks to be stable. Shanti, will Europe avoid a recession in starting this year. And I guess Anna debt crisis. The recession and a debt crisis. I think debt crisis is a low probability. We very well could go into a technical recession later this year. I think a lot of it will be dependent on what happens with the natural gas market. If that's cut off, then I think it's almost certain we'll have a recession without it. They might be able to navigate it. Here, more conversations like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. Markets, headlines, and breaking news, 24 hours a day. At Bloomberg dot com, the Bloomberg business out and at Bloomberg quick tape. This is a Bloomberg business flash. And I'm Karen Moscow, U.S. stock index futures are falling this morning along with stocks in Europe and the dollar resuming its upward march after high U.S. inflation hardened expectations for more aggressive Federal Reserve monetary tightening that could trigger a recession. We check the markets every 15 minutes throughout the trading day on Bloomberg. S&P futures down 39 points down futures down 304 NASDAQ futures down 105, the decks in Germany's down 6 tenths of a percent. Ten year treasury down 8 30 seconds yield 2.96% yield on the two year 3.20%. 9 X crude oil is down 2.4% down $2 34 cents at $93 96 cents a barrel. Comic gold is down 1.4% or $24 20 cents at 1711 30 announced. The Euro 1.0035 against a dollar British found 1.1856 and the yen one 38.84 looking at Bitcoin is higher up about 7 tenths percent and $19,785. Today we get another reading on inflation, the producer price index at 8 30 Wall Street time. We also get the weekly report on initial jobless claims and we're looking for earnings from JPMorgan Chase and Morgan Stanley. Mister Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world, Michael. Kieran, thank you very much. President Joe Biden will seek to bolster operation between the U.S., Israel and other countries during his first full day in the Middle East. His schedule today involves meetings with Israeli prime minister Yar lapid. In baseball, the Yankees beat the reds, the mets beat the braves, the nationals lost both games of a double header to the Mariners. Has Ernie our old say, the Oreos are flapping their wings. They meet the cubs to win their tenth straight. The giant stopped the Diamondbacks the a's lost to the rangers. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts more than a 120 countries, Michael Barr, this is Bloomberg, Nathan. What a time to be alive when the Orioles are doing well for a change. Thank you, Michael. It is 6 19 on Wall Street live from the Bloomberg interactive broker studios. This is a Bloomberg day break, of course, investors focused, not just on the threat of inflation, higher rate hikes, but they kick off of bank earnings season with JPMorgan Chase and Morgan Stanley reporting this morning. Ken Leon is with us now. Director of equity research over at CFR a Ken, it's great to speak with you this morning. I wonder what your expectations are when it comes to the bank earnings because of course they have so much that they can tell us about the strength or what have you. When it comes to the U.S. economy. That's right. And it's really where are we going rather than inflection point in terms of questions about the economy or the consumer? And looking ahead, I think the banks are going to be cautious. They need to build up bank reserves if we run into recession next year. And of course, the investment banking area has been weak, but all of that is really factored into expectations and stock prices. So I think any leaf of good news is going to help in terms of optimism and bank stocks may be going higher. But this is not going to be a pretty firing on all cylinders kind of quarter for the banks and I think their tone is going to be pretty low key. I think it has to be said that JPMorgan Chase CEO Jamie Dimon may have set expectations when he made that well repeated quote about an economic hurricane on the horizon. Are you expecting that that kind of language could continue? Or is there a possibility that we could see some evidence of green shoots? Yes, the green suits it's going to be tough because of the pressure of rising rates. The fed going maybe up hundred basis points next time on their meeting and I think the real secret to this story is banks built reserves and if we go into a shallow recession next year possibly they can reverse those and that could help earnings next year. But the health of the businesses, lending is likely to be less than the second half versus the first half of this year. Capital markets is a big, big question mark. Particularly in terms of underwriting. And overall, right now, the banks just aren't seeing a cracks in terms of credit credit risk, particularly on the commercial side. There isn't a distress interest rate. So again, it's a crossroads and banks are very different than a industrial company where they can build reserves and things don't get so bad and that's going to help earnings next year. Could the volatility that we've seen in the market and the possibility that trading desks have been able to manage to do well based on that? Could that sort of outweigh some of the headwinds that banks could be seeing from some of the other issues surrounding rates? They are. And that's going to offset lower underwriting and mergers and acquisitions, equity and fixed income trading are up anywhere 20 to 30%. And volatility is helped. But for investors, bank stocks never really get rewarded on the volatility of trading because it's so difficult to sustain or predict. But yes, the price is going to be positive for trading when they report soon. Does that make it tough to think of financials more broadly as a buy when it comes to investing in
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Influential conversations from Bloomberg television Here's Manus cranny It's Nina She is the CEO for the center of economic and business research joining us Nina they firmly guide to a July and September hike What does that do to the bond markets in Europe and to the spread markets which have been a little bit frisky of late Well hopefully there will be sort of an adjustment period given that they are so firm on given guidance and at this point in boom come as a surprise to seeing that we've already heard pretty firm indications from various Europe the various heads and the council and the members of the ECB council So hopefully we won't have a bigger reaction coming to where we hear these announcements announcements confirmed But certainly the fact that there is a Titanic coming in the ECB will add to the headwinds on top of the bond purchasing program coming to an end in drew and also to the global headwinds coming from the global tightening and the downturn in a number of key markets So it is a little bit of a perfect storm Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings This June in honor of Pride Month and Juneteenth Bloomberg brings you a special equality series every Thursday in June at 1 p.m. eastern Bloomberg equality celebrating inclusion this Pride Month and all year long Once you get to $5 on average nationally that's a startling number really frankly And we're probably going to see that during the summer but there's so much pent up demand I think consumers are going to drive right through it Though as we go into the new year and people have released their demand to travel different story right Kathy Bosch is there of Oxford economics the consumer getting squeezed margins getting squeezed for the second time in three weeks target cutting the profit outlook It's dragging down equity futures just a little bit on the S&P 500 by 8 or 9 cents of 1% on the NASDAQ 100 down a little more than 1% The stock target hammered again Down as much as 10% this morning Right now some down by 9.2 Yeah one 45 was the intraday low that we saw in target One 45 was the low we saw on May 24th I should say and here we are revisiting that again What we're going to do is inform with specialists Jennifer bartus is that senior analyst for target Retail Staples at Bloomberg intelligence and we're thrilled she could join us here on short notice Jennifer you talk about target is the best manager of the paradox of choice Now they have to manage the paradox of inventories You and I are brushing off our life of fifo textbooks How do you manage inventories other than to move it out at a loss Well there's really a couple of tactics that they're going to try here One is they're going to continue to hold what they can What they think they can sell it higher price especially as we go into the holiday season But markdowns are inevitable And that's really what we're going to be looking at over the next quarter And so that's really the push behind this profit guidance You mentioned on a long-term basis they have an exceptionally loyal store following Will those people rally to the markdowns Absolutely I mean part of targets allure is that they offer great products at a compelling value And so markdowns in the eyes of a consumer are meeting a value need that is even perhaps more pressing today than it ever has been So from a loyalty perspective this probably doesn't this probably enhances target with their customers It just doesn't help them on a financial basis Jennifer how much of a micro story is this and how much of a macro one in other words is this just basically a harbinger of what Walmart and Amazon can expect Well there are certainly some concerns especially when we saw what came out of the Amazon and Walmart earnings where they both also had elevated levels of inventory Part of this is the consumer and pulling back and changing the pattern of how they're spending And changing quite rapidly and pulling away from those more discretionary items It's hard to predict And so while some of these issue is self inflicted from these large retailers some of it is really just being victims of circumstance and the rapidly changing consumer and now they have to adapt their operations in order to stay in step with where the consumer is and get rid of this excess inventory But you drill down a little bit more Jennifer There were accusations that companies once again retailers were emphasizing growth over profits getting greedy trying to get ahead of that building inventories more than they otherwise would have to Is that going to shift in terms of how they're going to act going forward Or is this basically going to be viewed as unavoidable and frankly a dueling picture having to do with a pandemic Well I think that to a degree I agree that it is unavoidable I do think that there was not necessarily an intent to manipulate things I do think that there was a view of the market that they needed to ensure that there were items in stock to help keep consumers calm following the following the pandemic And that we needed to have some stability in the supply chain And the only way for retailers to do that was to enlarge their inventories so that they would be sure that they had goods on hand Now did they go too far Time will tell But I think that in part of this is an attempt to make sure that consumers still had access to the goods and services that they needed But there will be some ramifications that I think we're going to see flow through second quarter and perhaps even into the second half of the year So Jennifer that's what I want to talk about here I'm trying to work out what we're discounting Are we writing down the second quarter running it off in some aspects or writing down the whole year because we don't trust the guidance from this company anymore They've made two points this morning One is on the margins for this quarter the current quarter then they see things building back out in the second half Jen can I get your view on that What's happening now and why they think it gets better as this year grows older Well what's happening now are going to be the markdowns And that will take a huge and short term hit to the company I think when they're looking out at the rest of the year they're trying to adjust their plans We have back to school season coming which is the huge season for these retailers And we have the holiday season And so when we look at the back half of the year we're also going to be cycling past the initial phases of the high inflation from a year ago So the picture does look a little bit better second half but it really will come down to how well they're managing their inventories Jennifer I took the CFA level one exam where they think 3000 people in an ugly auditorium in Boston And when I got to the change in working capital questions there was a sudden silence across the entire room I butchered it provide clarity here is the blunt instrument to managing a change in working capital through inventory reduction that you act some of 450,000 employees Well I don't know that they're going to act a large number of employees I do think that there will be a very tight view in terms of additional hiring for the rest of the year So traditionally these companies hire seasonal employees as we head into end of back to school and beginning of holiday and through the holiday season I think that will be radically different this year I do think that there are going to be a lot of eyes watching working capital But I would be surprised if we saw a massive job slashes in order to make to make a difference Jennifer thank you Jennifer bassist.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"From Bloomberg television Here's Anna Edwards Joining us now is the CEO of revolution race perilla and I understand who is with the sell us what has driven the gains that you've made year on year then Where are the gains coming from Which part of the world or which product lines We grew by 50% and they wrote is the strongest in the dark region that group by 93% and Germany still growing quite fast with the 89% So a recently launched Switzerland is also promising for revolutionaries During the COVID outbreak we saw a lot of people discovering maybe outdoor activities for the first time or rediscovering them And then since the peak of the COVID outbreak perhaps people have gone back to doing other things Are you seeing any of that in your sense of what customers are doing at this point We have been in a broad brand so we are both in the auto segment The niche categories but also in the series So revolution race is multifunctional where you can wait every day even in the city and that gave us unique selling point with the brand but we are humble about the fact that the inflation is affecting us all but we make all the decisions in that specific market that we get the best new customer acquisition at the lowest cost Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings Markets headlines and breaking news 24 hours a day At Bloomberg dot com the Bloomberg business app and at Bloomberg quick take This is a Bloomberg business flash And I'm Karen Moscow and U.S. stock index futures are lower this morning bond yields are arising after inflation came in hotter than expected for April core consumer prices rising 6 tenths of a percent from a month earlier estimates had called for a gain of four tenths of a percent And we check the markets every 15 minutes throughout the trading day on Bloomberg S&P futures down 20 points down features down 64 NASDAQ futures down 127 the Dax in Germany is up three tenths of a percent ten year treasury down 9 30 seconds yield 3.02% that yield on a two year 2.7% 9 X screwed oil is a 4.2% of $4 22 cents at a $103 97 cents a barrel combat school that a third of a percent or $6 at 1847 50 announced the Euro one O 5 5 5 against the dollar 1.233 Bitcoin.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Council Influential conversations from Bloomberg television Here's Anna Edwards Let us speak now to go who is the CEO of Mueller mask and joins us now saw a really nice to speak to you update me on the state of the container market at this point And any sense of normalization You were thinking about perhaps normalization in the second half of the year but acknowledging things were very uncertain coming out of a global pandemic Things are still uncertain of course Do you still expect to see normalization of the container market in the second half Well we have based our guidance for the full year are still on that still on that assumption We also have to say that the first quarter hasn't done much to help congestion We still have somewhere around ten or 12% of global container ship capacity which is tied up in waiting outside ports around the around the world So that capacity is not if you will available to the market point And we certainly see improvements in the U.S. West Coast which was a huge issue a few months back The problem has been getting labor to get back To get enough trucking capacity to get people to be in the work in the warehouses and that remains an issue many places And now of course we start to see impacts in China as well from the lockdowns we see in China Influential conversations from Bloomberg television Here's Anna Edwards Markets headlines and breaking news 24 hours a day At flew back dot com the Bluebird business out literally both quick take This is a Bloomberg business flash From Bloomberg's European headquarters in the City of London and Laura Wright with this Bloomberg radio.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Bloomberg surveillance the markets is our language Montaigne a show Okay well enough for the French We'll leave it there We're still working on French Potatoes on the raw Bloomberg surveillance with Tom Keene Jonathan farrow and Lisa Abramovich Nice work hump Just terrible in French We do mornings at 7 eastern on Bloomberg radio and Bloomberg television This is a special report the Russian invasion of Ukraine The White House says President Biden was not calling for regime change in Russia Here's Scott Carr During a speech in Poland Saturday Biden declared Russian president Vladimir Putin can not remain in power a White House official later said the president meant that Putin should not be allowed to exercise power over his neighbors in the region Fallout over the comment has been divided pretty much along party lines in the United States a Kremlin spokesman dismissed the remark by saying it's not for Biden to decide who the Russian people choose to elect Ukrainian deputy prime minister Olga stephania is saying that the battered port city of Maria pole doesn't exist anymore appearing on ABC's this week Stephanie should not only reported that Mario polo is 85% destroyed but that some of its citizens have been forcefully displaced into Russian territory she recognized that dozens of Ukrainian cities were in similar situations but that Mario pole was strategically significant to the Russians This has been a special report the Russian invasion of Ukraine I'm Dina kodiak And I'm Susanna Palmer in the Bloomberg newsroom Governor Kathy hochul said today that COVID related hospitalizations in New York State have been below 1000 for more than a week According to the latest numbers released by the governor's office the number of people hospitalized with COVID-19 dropped by 22 over Saturday's figure 7 new deaths were also announced today Pushback from top Capitol Hill lawmakers following the announcement that the veterans administration plans to close dozens of VA hospitals and clinics across the country to build new facilities Senate majority leader Chuck Schumer of New York said he's urging the VA to rethink the planned hospital closures We are going to fight this proposal to the nail We are going to put a dagger through its heart It.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Conversations from Bloomberg television Here's Manus cranny The CEO of Abu Dhabi based food and beverage company Agatha is Alan Smith Russia is not talking about it's a bit vague in terms of what list of commodities they may restrict So we may move to a weaponization of commodities as well the world's number one grain producer invading the world's number 5 grain producer What is this pushing you to do I think the biggest thing that we're focused on is making sure we have availability We have secure source So that's our top priority Price we obviously have to do with it as it impacts us We've seen inflationary pressures across the market over the last 18 months I think we're going to continue to see that But the other thing I'd say about the course of the last 12 months we've been very much in a growth phase through an organic acquisitions to diversify our business So if you look at our commoditized portfolio we have long-term strategy to in 5 years for our business to get to over 75% to be consumer branded products rather than exposure to commodities I think the good thing about our results in 2021 is we were able to get to 70% So in terms of activity results I think we're doing a pretty good job in terms of diversifying and protecting the business Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings We tried to do the sanctions where the oil and gas flows would be.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Conversations from Bloomberg television Here's francine LaCroix We're now joined by you the chief economist at Allianz Rudolph thank you so much for joining us You wrote a brilliant note which I have to say is very concise and very to the point And in it you say look the sanctions we have so far is really targeting three channels energy trade and the financial sector Does it take more time for it to impact the financial sector and trade Or do you think we're pretty much done with that Is to asphyxiate the tube right And this is the idea of the financial sector section which are unprecedented in many ways Of course this 15 of some banks but also the sanctions against the Russian central banks is something that I have not seen in my career as an economist because it raises so many legal questions about the immunity of central banks and so forth So we're going to see how some of these red wire black wire with Russia and the rest of the world is going to work It's going to be interesting And he's going to take time as you mentioned On the trade side we have no foot flesh trade embargoes but of course the financial sanctions are affecting that And on energy it's indeed part of the arsenal of contraception right So this framework helps us understand that today we put the heavyweight on finance and it will take a bit more time If we had put the elevate on another thing but the other options of course are out of the table today Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app Or check your local cable listings Just getting pictures.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Council Influential conversations from Bloomberg television Here's manners cranny and Danny burger Jan Rosen Graham is the CEO of ABB beyond the markets really going to want to know about your E mobility listing during the second quarter What response have you had from institutional investors What could this E mobility listing be worth So we heading for the IPO hopefully during the second quarter We have started the marketing and talking to investors I think we are pretty much in track to have a successful IPO So you've made a couple of purchases as of late earlier this week you upped your steak to 80% and charged on in Shanghai You've also bought a controlling stake in in charge energy as well Are you looking at more acquisitions in the EV space currently Yeah I think the whole idea with this is to create the so called growth platform for that business We see of course dramatic growth in the market big demand for fast charging as well as normal charging So we need to move in line or faster than the market So this I build will really generate some good cash which will be invest in the business and continue to grow organically as well as through acquisition So big focus on growth of course Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app Or check your local cable listings Markets headlines and breaking news 24 hours a day This is a Bloomberg business flash From Bloomberg's European headquarters here in London Caroline hiker with this Bloomberg radio business flash so a couple of interesting earnings in Europe this morning in Tessa São Paulo fourth quarter net income comes in at a €179 million so a beat on the estimated 107 million for the Italian lender their fourth quarter net interest income though was a slight miss their targeting 70% cash dividend payout ratio for 2022 also in the brewing department carlsberg sees 2022 organic operating profit between nought and 7% They see 2022 though being challenged their warning of rising costs their full year dividend per share in Danish kroner 24 Danish kroner for carlsberg so that that is the particular in terms of the more general futures for the year stocks 50 futures up by 7 tenths of 1% S&P 500 evenly futures sawing 1.1% and the NASDAQ and even bigger jump up by 1.9% close to a 2% gain for NASDAQ futures We were talking with Matt bloch in just a few minutes ago about why that is those.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Influential conversations from Bloomberg television Here's Anna Edwards At least welcome to the program the Navajo CEO vas Nara semen Let me start though something in your earnings that are now attract a lot of attention always and that is the performance of the sandor's business Of course you've said you're reviewing what role that particular business that generics business plays You said that in the past do you feel that the performance you've reported today for sandals adds extra pressure on management to resolve the future of that company When you look at Sandoz right now we're entering a period really where we're setting up the business for its next wave of growth Right now in 2022 we expect to stabilize particularly our U.S. business get some of our biosimilars filings on track and then we would expect in the 23 period going forward this business to return to a more attractive growth profile And we're quite excited about that And of course over the course of this year we'll hopefully be able to announce by the end of the year the completion of the strategic review and the path forward for this business I think it's early days in the strategic review We're in the process right now of completing the carve out financials providing the information that counterparties need both from private equity also other potential partners and buyers And we're going to look at all of the proposals we get back over the course of this year I think it's early days to really make a clear decision or clear direction Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings Friday our first look at 2022 jobs I don't know anyone The forecast unemployment to fall as quickly as it has Turned on Bloomberg to get you the numbers and analysis.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Ad council Influential conversations from Bloomberg television Here's Anna Edwards Joining us now with the market's perspective Toronto dominion bank senior European rates strategist Who's a really good to speak to you We've been talking a little bit about what's been driving yields higher And it's interesting in the context of all the concern that all the things that could be holding us back all the things that could be worrying us around the omicron variant Maybe the market is looking through that But mark making the point to me earlier that the steeper curves that we're seeing I'm thinking here about treasuries but perhaps it applies in other places as well The steeper curves is not a sign of a huge amount of optimism It's about technicals It's about corporate issues and it's also about fear around inflation What do you put the higher yield environment down to it At the time environment is more like a seasonal driven where we see every year we started in the financial optimism and we have extreme high levels of supply coming across both that we are looking for at EDD or we are looking at corporate supply So that is definitely adding to the sleeping bias that we are seeing in curves across country And also given the fact that in December we did have Central Bank action addressing the end of the policy And I think raised our markets have started to reflect that And that's where you are seeing market reassessing new levels that people go Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bluebird mobile app or check your local cable listings Okay Markets headlines and breaking news 24 hours a day at flu burn dot com the Bluebird business app simply but quick take this is a Bloomberg business flash From Bloomberg's European headquarters in London and Caroline hepar with this Bloomberg radio business flash So the markets are squarely focused on the FOMC minutes that showed officials want to start balance sheet runoff sooner than had been expected Overnight swaps markets now betting 80% on a 25 basis point interest rate rise in the U.S. in March three hikes now seen from the fed this year What does that done It has led to a sell off particularly in tech stocks but more broadly the S&P 500 Index slumped 1.9% of the clothes the biggest drop in more than a month and NASDAQ tumbled 3.1% and now futures are very much in the red dropping 2.1% for the U.S. stocks 50 futures so Europe really playing catch up with the Wall Street story S&P 500 evenly features currently down half of 1% U.S. benchmark yields are rising steadily but surely one spot 7 three three on the ten year are by two and a half basis points right now You have a bid for the dollar up by a tenth of 1% on the Bloomberg dollar spot.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"From Bloomberg television Here's Anna Edwards Peter kumra torn says to me the bank has senior European rate strategist is still with us Let's focus then on the Bank of England It seems as if the market is pivoted to thinking that this is going to be a whole because of the spread of omikron because of that it would be difficult in the view of the market or at least against political narrative to height rates at this point Does that hold water for you I mean labor market data and inflation data may be made the case for a hike Yes so today tricky one for Bank of England In fact markets were pretty much complacent just because of the virus that we will not be hiking But I think this week's labor market inflation numbers as well as the hawkish pivot from fed has actually basically made Marcus a little more nervous about the BOE will actually go ahead with a hike Now there is 50 50 chance And it seems more likely that they don't but I think even if they do it has to be a very cautious one because we are seeing UK going for almost fancy very soon So I doubt they will be hiking with very hawkish bias So I think that's where we will sun but it definitely derails the entire progress that they were making and also the kind of aggressive heights that markets were expecting in UK It's less likely to see BOE turning out to be as hawkish in 2022 as we expected Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings Markets headlines and breaking news 24 hours a day At Bloomberg dot com the Bloomberg business app and at Bloomberg quick take this is a Bloomberg business flash And good morning I'm Karen Moscow stocks are extending declines amid a drop in global technology shares as concerns about tightening monetary policy and economic risks from the fast spreading omicron virus variant sapped sentiment We checked the markets every 15 minutes throughout the trading day on Bloomberg S&P futures down 9 points down futures our little change NASDAQ futures they're falling down 106 points that's down about 7 tenths of upper scent The Dax in Germany is down 7 tenths of a percent as well Ten year treasury down 5 30 seconds the year 1.42% They yield on the two year .63% Down 1.6% on a dollar 14 at $71 24 cents a barrel Go make gold up 6 10% or 9.9 cents at 1808 ten an ounce The Euro this morning is at 1.1331 against the dollar British pound 1.3308 the answer one 13.58 And that's a Bloomberg business flash Now here's John Tucker with more on what's going on around the world John good morning And Karen President Biden urging Americans to get vaccines and booster shots as coronavirus.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Begins with us dot org brought to you by the ad council Influential conversations from Bloomberg television Here's Danny burger SD dweck chief investment officer at flow bank It is a about face from the issues that Apple faced previously was that there was too much demand If you're thinking supply chain disruptions and we're starting to hear anecdotal evidence that it is improving factories in Asia reopening it's easier to get some of these semiconductors easier to get some of these steel components And now we're seeing a bit of that flip side where people are thinking well if it's going to be tough to have maybe we just wait it out Maybe we look at something else right now What you often see is that production cycle when you're inventories get drawn down and you have these delays in shipping companies tend to over order because they don't know what's going to arrive and how long it will take So they just want to have extra extra And then at some point those inventories start to replenish a bit demand stabilizes a bit like what we're seeing now with this Apple news And then you have that balance and this improvement So maybe not fantastic for Apple in itself the demand side is winning And it is very dependent on iPhone sales But from a broader supply chain perspective probably encouraging to see that it's maybe one more in these better anecdotes about an easing in these disruptions Here more conversations like this one on Bloomberg television streaming live on Bloomberg.
Bloomberg Radio New York
"bloomberg television" Discussed on Bloomberg Radio New York
"Chief of Meredith Matthew Winkler looks into the bond market And what it's really telling is about inflation This is balance of power on Bloomberg television and radio Carol mazer and Bloomberg quickly This is balance of power on Bloomberg television and radio I'm David Weston Inflation transitory or something longer lasting It's the debate raging for weeks now and is sure to be the subject of much of secretary Yellen's and share Powell's testimony on Capitol Hill tomorrow on Wednesday Our editor in chief emeritus Matt Winkler has taken a look at what the markets are telling us about the long-term prospects for inflation and he is here now with his results So Matt great to have you back as always So one of the markets in Market saying it's transitory In a word but there's a lot more to it We're talking about $29 trillion of treasury obligation short and long term going all the way out to 30 years as far as the comparison Is concerned And what it shows is inflation peaking Sometime in the next two years and then we're back to trend 21st century trend if you like not even a percentage point above where it's been 2.2% And you know that is very emphatic It's not at all like what we saw in the 70s There's no sense of runaway inflation And even if you look at what's happened recently commodity prices are way down from their highs This year if you look at the containers that are sitting at the ports they're down more than 30% in the past three weeks If you look at shipping costs they're down 25% in the past three weeks So there are lots of things that point to what investors and investors remember are not ideological investors simply look for relative value and the relative value by the way is that right now as we speak The benchmark ten year treasury is 70 basis points less than it was when unemployment declined to 4.6% in 2017 Think about that Fascinating So let's look at some of the weather veins and the bond market because you go through it in your piece here with champagne who works with you on all these things Subscribe One of the various indicators And they all point in the same direction when it comes to bond market Yeah more or less Look what we did was take a look at the most important indicator if you like tips or treasury inflation protection securities created in the last decade of the 20th century when everybody really was concerned about inflation And how to deal with it And so tips are now more than a $1 trillion And when you look at tips the most important thing that you need to know is what's the break even rate And the break even rate when we look at tips in the context of the rest of the treasury market is very low compared to where it's been historically It's lower than it was for example earlier in the century the period from say O 5 to O 9 And what does that telling us it's telling us that investors even those who are buying tips are not buying tips with the fervor that you would expect them to inflation was run away How do we know that The percentage of tips sold today even with ETFs buying them as fast as they can is less as a percentage of total treasury sales So I'm fascinated with this because certainly the more market has moved in the shorter range If you look at it has moved up quite significantly And yet it's not moved I guess in the longer range So what does that tell us What is the market thinking is going on What corrects it down the road Well the market is thinking we had a pandemic It shut the global economy down at one point And there are what Yellen and Powell as you referenced before have described as supply chain disruptions that are serious and take a while to resolve And that is in fact what the bond market is processing But interestingly enough Walmart and target have more than enough stuff to sell for Christmas Okay they're not saying we're out of supply So it does kind of all converge on the same thing which is once we get through somehow the leftovers from the pandemic we're going to be back to trend inflation in the 21st century So some people I mean Larry summer said I talked to you every week as you know but other people as well Part of the problem here is we've got a Central Bank much more active in the economy than it's ever been before And the degree of monetary stimulus that it's poured in And as a result the bond market isn't as reliable and indicator as it used to be because you've got the rough playing in the game Yeah that's true although you could say the financial crisis which he lived through and you lived through and I lived through was about as close as we came to what it would have been like in The Great Depression after the crash and it was thanks to the fed that we rescued the economy It took a little while by the way to recover We didn't have anything like the stimulus that we're now getting with the Biden administration But the point here is that the economy was saved back then by the fed And the economy again has been saved by the fed And that is a far better reality for all of us Than the one that he might be suggesting which is take the fed away and there's no economy So Matt this is balance of power as you know And we like to talk about policy in Washington So put yourself in the federal open market committee right now What does that tell you about your taper rate Given your analysis the bond market now should they be tapering at the rate they've said should they be speeding up slowing down How does it affect policy making right now So I think the smartest economist fortunately is running the treasury And Janet Yellen has said consistently all through this period that what concerns her is the labor participation rate And the labor participation rate today is down the equivalent of the population of Maryland from before pre-pandemic And she has said let's let the economy get back to a labor participation rate that's as healthy as it was before the pandemic And we're not there yet And it's not moving in that direction very fast is it It's not fast enough Yeah exactly Is there anything that the policymakers can do to affect that Well Biden is doing it I mean if this second piece of build back better which enables working mothers to not be worried about child care when there's so many disruptions with schooling yeah that would be a big fill up because one of the biggest disruptions to the labor market has been women have not come back to work And that's not talked about enough They disproportionately lost on the downside and they haven't come back Correct Thank you so much the Bloomberg editor in chief.
The Hugh Hewitt Show: Highly Concentrated
The Significance of China's Hypersonic Missile Test
"Tell us about the first scoop and the second scoop and the reaction. I brought it up at the Senate debate on Sunday Night in Ohio among the 6 Republican candidates. And I must say, none of them are really aware of its significance. Well, so what happened was in July 27th, China tested a really interesting capability. They launched a long march rocket, which is the rocket they often used for their space programs. But on that rocket they had something called a hypersonic glide vehicle. And the best way to think about that is it's kind of like a space shuttle in the way it flies in maneuvers. The rocket brings the space shuttle or the hypersonic glide vehicle into lower order. It went around the earth at some point the glide vehicle detaches from the rocket. And then it sped down towards its target. We are told that it missed its target by a couple of dozen miles. But what was significant was it was the first time that China used this technology to go around the earth once. And something that they did during that flight and we still don't know what it is. Really freaked people out of The Pentagon, because they don't know how China managed to accomplish whatever capability it was. So it really, really stunned people because they thought, here's just a really, really good example again of where China is making massive fast development in its north reprogram. But for some reason, year after year after year keeps running the U.S. Military intelligence establishment. And then the second test we have to know less about, but on August 13th, there was a second test of some kind of a hypersonic weapon. And we're still trying to get some of details on this. But what's really interesting is literally about half an hour ago just before we came on the general Mark milley, the chairman of the joint chiefs has actually become the first American official to confirm this. In an interview on Bloomberg television, he said, I'm closing what we saw was a very significant event of a test of a hypersonic weapon. He said, I don't know if it's quite a Sputnik moment, but I think it's very close to that. It has all of our attention. So this is a big deal. And this was the first U.S. government confirmation that China did this.
Bloomberg Best
US On the Cusp of An Economic Boom
"Time in his temper cell, he said, the most unusual labor economy in March jobs report because we're on the cusp of a boom economy. Yeah, the shocking shut down and then the unbelievable recovery that people know they can't quite get their arms around just to give you a sense. Of the range here. 202 32,000 is the low estimate 1.1 million. The high estimate people are throwing darts at a board to try to understand, Tom just how robust this recovery is going to pay. I'm Bluebeard radio on Bloomberg Television,
Bloomberg Surveillance
With Ant's IPO on hold, China emphasizes need for fintech regulation
"A's chief Fintech officer Nelson Chao, about the delay and about initiatives to regulate the booming fintech. Mark. If you look at this kind of big attack of They have been here for quite a while. They have attained the SPF license back in 2016. They've also be granted a license for the virtual bank. I think they will continue to be to still need to settle the trade on payment is one important part here. Maurin views like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile APP or check your local cable
Bloomberg Opinion
White House Draws Up New $1.8 Trillion Virus-Relief Plan
"We've been reporting stimulus is back on the table after a reversal from President Donald Trump. Joe Love Oranje, Special assistant to Trump and National Economic Council chief economist says the White House is now offering a $1.8 trillion stimulus proposal to House Speaker Nancy Pelosi. He runs down some of what's in the Republican proposal. Airline relief of roughly 25 billion There was The words of 105 billion for schools and vaccines and pp that we certainly want to give more money to small businesses of tpp the payroll protection plan, but we think it's been very successful. Obviously, direct income assistance through Czech people certainly could still use it. Those are all things that had been in the package and looks like there's been more that's been added. Livorno was interviewed on Bloomberg Television's Balance of Power
Bloomberg Daybreak: Europe
Eurozone unemployment spike held down by support schemes
"A conversation about some of the states that we've been getting out of Europe and Caroline. Let's get Teo, the latest out of Germany, the German economy minister, as you mentioned just that Peter out. Meyer is expected to be speaking shortly, and he's going to give a new forecast for the German economy that we understand It's not going to be as bad as previously expected. Joining us now to continue the conversation, then from TV aspect to him earlier there on Bloomberg television below. Hafeez, the CEO of Macro Hive Bill are very good to speak to you and I want to know how we should look at Germany because the latest data suggests that they are being quite successful in bringing down that spike in unemployment that they saw. You didn't spike as high as other places because they have A furlough scheme in place. Of course, longstanding. Do we take comfort from the German scheme and say, Look at there for low we should all be doing that. Or do we worry about zombified cation of businesses that are supported that way? What is your take on that sort of macro event? You know, I think that's very kind of good observation. I mean, I do think that the German furloughs seems the way they do it with government effectively subsidizing workers that go do you shorter hours is works very well and I think it's something Germany has done. Couple times before, especially off 2008 national crisis. So it kind of works very well for the German later system, whether the country's replicate that it left clear But I do think that Germany at least it works very well. There is a broader question as you point out that this bomb verification and that's something we're really going to find out for the down the line in years to come. Andi. You know, Germany does face the loss of structural challenges. Whether that's also sector with the onslaught of electric cars and so on. You know, it's relationship with China is well, you know if the US doesn't push your further On the whole diversion story there that there are those sorts of challenges as well. I think that kind of loom quite large bowl for Germany. Interesting. I mean, there was talk in the UK to doing kind of sort of work week, going down to four days a week, for example, you know, just try to help the economy. But
Bloomberg Businessweek
The US and China say they're making progress on trade, even as other tensions worsen
"U. S and China reaffirm their commitment to the phase one crate deal in a biannual review, demonstrating a willingness to cooperate even as tensions rise over issues ranging from data security to democracy and Hong Kong. Carla Freeman is Johns Hopkins, executive director of the Foreign Policy Institute and associate research professor of China Studies. She was interviewed this morning on Bloomberg Television and Radio. I don't think much of change. Remember these talks, which had been delayed took place against the backdrop of the Republican National Convention, where there was a lot of harsh rhetoric about China on Trump's been quoted recently about saying that The U. S. Doesn't is not obligated to do business with China. So there is. There is a lot of tension still in the Air.
Bloomberg Businessweek
Fed sketches dim outlook for US economy amid pandemic and signals it will keep rates pinned near zero
"S and P 500. Extending its July rally is the Fed left rates unchanged near zero and again vowed to use all its tools to support the US economy amid a shaky recovery from the pandemic. Scott Minored, his chief investment officer of Guggenheim Partners, he was interviewed moments ago on Bloomberg Television definition of the market is the federal service. They have made it clear that where interest rates are going to be made clear that they want Dr. Credit spreads tighter on. They've made it clear that their reaction function is in response to the progress of the virus and its impact on the economy.
Bloomberg Surveillance
In New York City hot, steamy four day - Ga Test 2
"There's gonna be a lot more unemployment coming on a ship from what was temporary unemployment into permanent. To some degree. These companies are now starting to hunker down for a longer, more protracted recovery on so they have to right size. Their business is not gonna turn on right away, and we'll find out some things that were turned on, and we turned back off for a little while. It's gonna be bumpy. Mrs Bloomberg Surveillance with Tom Keen, Jonathan Farrow and Lisa Abramowitz. Good morning, everyone. Jonathan Farrow, Lisa Branson, Tom Keen on Bloomberg Radio, Bloomberg television Worldwide hot and steaming in New York City hot, steamy four day conversations in Europe to some level of success. We'll talk about that in a moment. And then, of course, the stimulus discussion and Washington and all this wrapped around A market that will never, ever ever go down Futures up 25 down futures up 1 86 We have a 23 print and the vic's now John just to go to the equity markets for one teensy weensy second. I know you want to talk Europe. I mean, come on, John, 32 to 23 on the vics is really something. It's an equity markets got away from so many people, Tom, particularly big tech side to see the nasty 125% higher through 2020. Amazon, up 70%. Microsoft Apple Up 35% We have had Monster moves and the South side has struggled to keep up through all of it. John your thoughts on Europe use did a tour of duty in Frankfurt, Germany, Viscerally felt that tension on the continent. How historic is this? A story? Important moment, Europe has demonstrated or demonstrating that they can borrow what the commission level and distribute grants the places like Italy that was unthinkable in the last crisis. What it's what many people wanted to see. I don't think it's that golden bullet, though, Tom, this is not the end of fiscal integration. This is part of the journey. And that's how you should view it. It would take a while for this story to build the keyword here, though, is crisis. It took a crisis to take this step forward. I imagine it might take another crisis down the road to take the next important step forward for the continents are Maria today. Oh, in Brussels. And of course, it's been an exhausting for days. Lisa Bram. Once I look at all that's going on. And really the fixed income market is the litmus paper off this system. What of the spread Barca do off this agreement? Oh, well, you can see that there's definitely risk on and it
Bloomberg Surveillance
Trump administration sues over new Bolton book, claiming it contains classified information
"Former national security adviser John Bolton as you were discussing writing in a new book that president trump asked for assistance from Chinese leader xi Jinping to buy more US farm products to help him win reelection Bolden tells ABC news the relationship between president trump and Russia's Vladimir Putin puts the U. S. in a difficult position I think Putin thinks he can plan like a fiddle I think Putin is smart tough I think he sees that he's not faced with a serious adversary here I don't think he's worried about Donald Trump trump campaign spokesman Tim Murtaugh tells Bloomberg television the allegations are absurd but I think what folks need to know about John Bolton is that he is now a disgruntled former employee and then in order to get this book deal that he's tally he had to agree to include classified information that he had access to when he was working in the administration at the White House is suing to stop the book's
Bloomberg Surveillance
Saudi Aramco profit falls 25% but dividend in line with planned payout for year
"M. oil declined as al circulated over Saudi Arabia's ability to implement additional pledged production cuts the kingdom says it will pump seven and a half million barrels a day next month about a million barrels below it's official opened plus output target and the lowest level for eighteen years as discussed this with the nasdaq senior energy director Tom R. as in our Tom are great to have you back so we have seen the rise in oil prices in the regular New York session but then those gains being raised what does this tell us about how big the supply glut is at the moment and how much Saudi Arabia's latest moves could help I I think that the market was a little taken aback by Saudi's announcement today we're only eleven days into what led the historic agreement in terms of the duration and the degree of class and already they're cutting further so it was sort of a negative indicator in terms of a weaker that they're seeing on the demand side more broadly I do think that the oil fundamentals are improving a little bit from a low base and we see that reflected in the price you know what I am quite a bit over the last couple sessions although not today I think that the compliant being brain games you're more interviews like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings market headline breaking news twenty four hours a day at work dot com business please visit Bloomberg business slash and I'm here in Moscow U. S. stock index futures are edging higher this morning European stocks gaining this as investors take in stride an uptick in corona virus infections in several nations and signs of fresh trade tension oil is advancing we check the markets every fifteen minutes throughout the trading day on Bloomberg S. and P. futures up about eleven points Dow futures of a hundred sixteen nasdaq futures up thirty two attacks in Germany is up three tenths of a percent ten year treasury that'll change your point seven zero percent the yield on the two year point one seven percent NYMEX crude oil is up almost five percent of a dollar nineteen to twenty five thirty three a barrel comics gold is a half percent or eight dollars thirty cents at seventeen oh six ten an ounce the euro one point oh eight
1A
Elizabeth Warren came out swinging, and Mike Bloomberg was left battered — highlights from the Nevada Democratic debate
"The democratic presidential candidates faced off yet again this time in Las Vegas last night just two days before the Nevada caucuses this weekend on Saturday we're just a few months out from the democratic convention decisions have to be made they have to pick a nominee candidates are clearly feeling the heat and Wednesday's debate was free wheeling it was a rollicking affair with tons of moments in jabs in flourishes is specially from Massachusetts senator Elizabeth Warren at the expense of Mike Bloomberg I'd like to talk about who were running against a billionaire who calls women fat broads and for stays to lesbians and no I'm not talking about Donald Trump I'm talking about Bloomberg this was Mike Bloomberg's debut on the debate stage did he deliver and what about Elizabeth Warren she debated like she's fighting for something the new face of Elizabeth Warren on the campaign trail in in the debate and the debate itself it was a key moment in the run up to Nevada and South Carolina and then super Tuesday but will it make a difference here to talk about last night's debate and what history tells us about how much it matters or doesn't we have Laura brown director of the graduate school of political management at George Washington University Laura thanks for being here thanks for having me on what what's your biggest takeaway from the debate last night well I think the biggest takeaway is that a lot of the candidates who had been so apparently kind of out of the game tried to make a comeback last night and I think they did a very good job that includes obviously senator Elizabeth Warren and certainly vice president Joe Biden but the real question is will it matter and this is where it may matter in Nevada it may matter in South Carolina but it may not matter in enough to really prevail in super Tuesday contests when Mike Bloomberg's money is going to be a brick wall that none of them have had to run into before we're gonna talk a little bit about that potential knock on effect or lack there of momentum is important in campaigns but who knows what it means when Mike Bloomberg's television money he pays dividends on super Tuesday well it was Mike Bloomberg's first time on the debate stage as we mentioned he was a target for pretty much everyone is specially Elizabeth Warren is you mentioned Elizabeth Warren went at Mike Bloomberg over stop and frisk his treatment of women his status as she puts it as an arrogant billionaire and his companies use of non disclosure agreements listen we are not going to be Donald Trump with a man who has who knows how many non disclosure agreements and drip drip drip of stories of women saying they have been harassed and discriminate Laura we just mention Mike Bloomberg's money what did we learn last night about his candidacy well what we learned is said he had been a long time Republican and that many of his past sort of histories and policy positions are not really in line with traditional democratic beliefs he's been known recently for his efforts around gun control and climate change but that is not all there is to the man or his record and I think actually the most interesting comment last night came from mayor PPD judge who said you know maybe we should actually put forward someone who's a Democrat that was quite as a kind of jab at both Bernie Sanders and Mike Bloomberg because both of them have had long histories of not considering themselves Democrats you know we have somebody on the show last week I remember who said so far Mike Bloomberg has been running against Donald Trump in ads now he's running against his opponents different game yes I think that's absolutely right but I will also say that the Democratic Party electorate not those activists who volunteer in campaigns or who are watching every night of these debates but really the the democratic electorate that is going to decide this nomination race what they care about most right now is beating Donald Trump I mean the polls keep showing time and again that the Democrats have not made up their minds that this is a very fluid race and what they want is someone who is electable and someone who is going to take the fight to Donald Trump and this is where again you know Mike Bloomberg's money ends up being appealing to Democrats who just want to win and they don't care how they win well let's look a little bit at the history it's one thing to look back on a debate the next day because we all remember the moments but if we look back on past debates and past elections how much do these moments on stage actually make a difference at at the polls especially in early states is history a guide as to whether these debates we chatter about the next day actually matter so what's interesting in terms of the political science literature is that we find that the debate itself doesn't have as strong of an effect as the impression or the chatter about the debate in the days that follow so what is more important to the voters is what they are hearing about the debate whether or not they in fact tuned in and made up their own impression but that said therefore you're going to inflate the egos of my friends in the news media even more than they already are I'm afraid well this is where it's kind of interesting because expectations matter a great deal in terms of who is considered a winner and a loser and it's also true that in our current time it seems as though the chatter doesn't last near as long as one would imagine you know there are news events coming at such a rapid pace that the narratives change so quickly that there is kind of this giant forgetting machine that's been happening and I don't know that it will make much of a difference beyond those voters in Nevada who were tuning in specifically to figure out how they'd vote on Saturday well let's talk about Nevada let's let's do it in the context of Elizabeth Warren because she is getting that media buzz that you talked about we can talk about her performance specifically but according to your on your analysis we should look at the meta we should look at what people are saying about what Elizabeth Warren was saying that she was on the attack she she flexed on policy she flexed on Michael Bloomberg she seem to use Michael Bloomberg to show what she would do to Donald Trump if they ever squared off one on one but historically you're saying that even that a strong debate performance and the way we're talking about Elizabeth Warren right now may help her with a surgeon Nevada and maybe not much beyond yeah I mean look if she does have a strong showing in Nevada first of all she needs it you know by all accounts she is a next door neighbor to New Hampshire she did not have a strong showing there she was seen as somebody who had become somewhat passive on the campaign and allowing Bernie Sanders to add her out of that progressive lane that she had been in and I think last night she showed she's a fighter she showed she really cares about the issues that she has campaigned on and put a great deal of effort into working through plans around and I think it will be a very good thing for her in Nevada I think the question is who does she actually take support from because you know ostensibly one would imagine she would take support from Bernie Sanders and I don't know if he comes out of Nevada as strong as he would like because of her performance in other words there's still a lot up in the air and what happens in Nevada will turn into some sort of momentum balance for someone in South Carolina your saying that what happens in Vegas will not stay in Vegas to to flip the a corollary that we all have so much faith in that it really has a knock on effect for the rest of the race Bernie Sanders is the clear front runner in this race now he's leading in the polls in Nevada but that performance last night we'll have to wait and see what it does for Elizabeth well Elizabeth Warren's ability if there is any to eat into his lead I'm Amy club charts performance in the debate before New Hampshire was largely credited with her good performance there do you buy it I do because again I think what is happening right now is that the voters in these states where these debates are being held are really in a wrestling match with themselves they're trying to make up their mind the polls show that their decisions are very kind of fluid and they are thinking through their vote very strenuously and I do think that they are the ones tuning into these debates and making up their minds in the wake of them and this is where let's face it we've got another debate next Tuesday night before South Carolina that could again reach change and reshape people's perceptions in a post Nevada world you know it's interesting where we we talk so much that all politics is nationalized now that's just the way it is and and I guess in a way that's true but they're still you're saying this strong dynamic that they're real effect of a debate performance good or bad is really only proximal it's really local even if we all watch it nationally well sure because events will overtake our impressions by the time it becomes national right so between last night and a super Tuesday there are going to be many more events that occur and it changed people's perceptions about the candidates and so this is where I'm always very cautious around my colleagues making assumptions that politics moves in a linear fashion it usually doesn't there's usually events that very quickly change relationships between who's winning who's losing and how the whole process is unfolding while many of us learned in the last election or should have the danger of making predictions and this added perspective on the non linear characteristics of politics specially primary politics in this media environment just fascinating Laura brown director of the graduate school of political management at George Washington University in DC you are thank you
Bloomberg Surveillance
Even Apple co-founder Steve Wozniak thinks Big Tech has gotten too big
"Apple co founder Steve Wozniak says big tech is too big and even apple should have split up a long time ago he spoke to Bloomberg television about the antitrust scrutiny the major tech players are coming under lately I'm pretty much in favor of looking into splitting up companies I mean I wish apple on its own had split up a long time ago and spun off independent divisions to faraway places somewhat them think independently I think that big tech is gone too big it's too powerful force in our life and it's taken our choices away mostly I suggested big tech can turn into a big trap competition forces a company make good products and be the best at it and not just say we've got you trapped the apple co founder was a guest on Bloomberg
Bloomberg Markets
Fed Chair Powell Signals Rate Cut as Economic Risks Loom
"Good morning to everybody on Bloomberg television and radio worldwide I. Michael McKee bloomers international economics and policy correspondent in Victor at all at the rocky mountain economic summit with a very special guest Tom bark and he's the president of the Federal Reserve Bank of Richmond thank you for joining us today getting up early out here and joining us to be here you and I are kind of the warm up act for chairman Powell second day of testimony today so let's talk a little bit about that yesterday he went before the house of representatives and the markets took his comments as saying we are going to cut rates in July do the markets get the right impression well they're much more expert than I am on that I think he said the same thing yesterday that he's been saying for the last month and that we said in our last memo which is we don't have forward guidance anymore in the memo we're watching very carefully what's happening and data and we're looking very much on upside rescind downside risks and you know at this point they're a little more tilted to the downside which is why we're looking at well the market's basically priced in a hundred percent chance of a rate cut now can you go against the markets we have a lot of time left before the meeting we'll see what happens will have a lot of data that comes and CP I came in this morning and we'll get PC inflation we have retail sales will get consumer spending and markets are smart so if the data ends up with a different kind of outcome the market's sole I'm sure
Masters in Business
U.S. banks clear first hurdle of Federal Reserve's annual stress test
"The Federal Reserve is giving a passing grade to America's banking system is evidence of slower economic growth piles up, and with that story. Here's Bloomberg's Vinny Del Giudice, make your banks clear to key hurdle in the annual stress test the financial system. The ability to withstand an economic shock Goldman Sachs and Morgan Stanley, both Trump higher grades. The Fed's vice chair for banking supervision. Randall coral says the results show, the financial system is resilient. That's his word resilient. The stress tests were introduced in the aftermath of financial crisis. Thank you to go and he chewed ice. Bloombergradio fed vice chair Richard Clarita says the argument in favor of cutting rates has strengthened recently as cross-currents buffet the US economy amid heightened uncertainty. His remarks came in an interview with Bloomberg television and radio. Well, I think that, that we really have uncertainty in the sense that there's always some geopolitical uncertainty, but there's also uncertainty about how the global economy navigate. That a point you know you have negative interest rates in the year zone and in Japan, those countries are or well away from where they want to be. And I think that is a factor as as well. And Laurie hinal is deputy chief investment officer at State Street global advisors. One of the things that was really good coming out of the fed is that they're not sounding any warning signals. It's not as though the economy is really turning over. So we actually think that some of the market movement obviously, in response to the federal this week is actually going to follow through as we see good economic data so down Friday with the s&p five hundred index falling for the first time this week for the week though the S and P five hundred index gained two point two percents. The SNP Laura by three down one tenth of one percent ending the week of twenty nine fifty. The Dow down thirty four down one tenth of one percent. Nasdaq down nineteen down two tenths of one
Bloomberg Businessweek
Slack stock surges at debut, values company at more than $25 billion
"Well slack technologies, of course, making its debut as a publicly held company, and that was at the new York Stock Exchange stock. We heard from Charlie up about forty eight percent here in its first day of trading or Emily Chang, on Bloomberg television, cut up with the CEO of slack, Stewart Butterfield. And they talked about the business, bringing in more cash than me, put out on a non going basis is a priority because it allows us to control their own destiny. The ideal for us, though is that we continually find new ways the new opportunities to invest to further the business that we don't need a lot of free cash flow. But just a little bit. All right. Well investors seem pretty excited about what they heard from slack. Let's understand what they're seeing in this business a little bit about how they got to market, as they say, Mendy, sing senior tech industry analysts for Bloomberg intelligence. He's back in our Bloomberg interactive brokers studio. Mandy, you're our expert on these things. What did we see today once slack was really out in the public a one thing is fairly obvious that there is a lot of investor in two zero around, you know, cloud subscription businesses, especially on that deprives side, because the revenue stream is so predictable these in case oh slack. It's growing top line at over fifty percent. So there is demand for P. I think the concern for single product companies, you know, on the cloud is how sustainable that top line growth is. And you know once you hit a billion dollars. I think you're going to see growth taper down. So, but investors aren't focus. Passing on
Mac OS Ken
Bloombergbloombergbloomberg discussed on Mac OS Ken
"Apple retail exact Angela, errands, isn't happy about the criticisms of her and the changes. She made the apple stores leveled and our recent Bloomberg piece, also, she hasn't read them, but she knows they're not true. Another report in Bloomberg had errands, sitting for an interview with Bloomberg television. According to the report, errands dismissed the criticisms. I don't read any of it. And none of his based on fact, it's everyone trying to find story. She said when I left retention rates were all time high up over twenty points in the five years and customer loyalty scores were at historic highs, again, I know the facts, arid said. All that's the thing that happened.
Financial Issues
An Interview with SEC Chairman Jay Clayton
"And that we're going to get back to a conversation between David Rubenstein, co founder of the Carlisle group and host of the Bloomberg television show here to peer conversations and SEC chairman, Jay Clayton when you were a lawyer, you had very highly compensated, associates, and partners, working with you on behalf accompanies SEC pays government salaries richer. Let's say modest to say the least I wonder can you really get good people to stay there because you don't pay them that much. Yes, we, we have terrific people. We really don't okay, it's they can keep up with the, the private sector bar, and things like that, that are filing information all the time in the investment banks, I think you'd you tell me, I think our people have the respect of Wall Street, well, they are respected. And if anybody's watching this, and the look, anything I might be filing. Yes. They're very good people, and they do a great job. I just wondered whether there so under compensate. I was trying to get them as well. You know what if you can help them help me, get them a raise? Let's do it. Let's go through insider trading from the supreme court has ruled on a couple of cases against the SEC arguing that you were to tough. I guess on enforcing law. Is that a fair reading just one? We just one one the other day, which felt pretty good. Okay. But how do you not lost a few in the supreme court there, there were there were a few that we lost? And the main argument is that the courts mission Turpin of the law, when when you lose or how, you know, I think I look insider trading is actually a very delicate enforcement issue because you could have a rule that said anytime that you have information that everyone else, doesn't you can't trade. Now anytime you have material non public information, you can't trade. Well, that would discourage people from finding out things about companies. And one of the policing mechanisms in our market is private investors going looking at companies and whether the. The truth or not. So we want to encourage that kind of behavior, we want to encourage people to investigate companies the theory is that it's everybody should have access the same information. So if you're a corporate CEO, and you tell me a private citizen, you're about the by a company of the big premium. I'm not supposed to take that information. Go buy stock because it's unfair to the market, correct. That's suppose I'm sitting in emergency room of a hospital waiting to, you know, just have some something looked at by emergency room person. I'm not really that ill. And somebody wheels in the chairman of the Federal Reserve Board and the person says this person's had a fatal heart attack, or potentially fatal heart attack, very serious. If I see the person being wheeled in can I go and call my broker and say, I think the markets are going to go down because he's a very popular person can I trade on that it's a great question because that does show the like where do we draw the fairness line? If you're the doctor, you, we would say you have a duty. To keep information about the fed person confidential and no one would expect you to trade on information. You obtained by being a doctor. But if you happen to be standing there at the emergency room when he or she gets wheeled in. That's that information you didn't acquire any various way or any trust or confidence way. And you should be able to trade on that just like if you saw people loading bricks instead of computers into the back of a truck, I suppose somebody is a corporate CEO, and they mentioned to me that he or she is a big company. They're going to pull out of Britain because of Brexit. They're not happy with, and that will have a big deleterious effect on British economy. Is it okay to take that information and short the pound because let's say this information would short the pound or make the pound go down. Is that a problem because it's not a security, you can buy and trade dollars. Bills or pounds. Is that a problem for the if I did that we don't police non securities transactions like that? So a currency transaction would be outside of our jurisdictional you would say I did that. That's okay. It. The answer. Is it depends? But all right. Check with your lawyer. Okay. What about crypto currencies? You've said they are not securities. Is that right? A bit. Well, just because you call something cryptocurrency doesn't mean it's not a security. Oh, we've seen a lot of things that people call cryptocurrency that are, in fact securities. But he referenced one bitcoin, which we have looked at and is not a security explained to the average person. How many members of the are there, we have forty five forty six hundred employees. Okay. And how many commissioners, there are five, and they're all pointed by the president, I'd states and confirmed by the Senate. And did you have to be from a certain party or not? I believe the way the rule rates. You cannot have more than three from the same party. So let's talk about how you came to be the chairman of the SEC, you grew up in Pennsylvania. Hershey, Pennsylvania initially, initially Hershey, Pennsylvania new went to Cambridge and then you play basketball at Cambridge shorter. You came back. And you went to university of Pennsylvania law school. And you did very well thought near the top of your class, you clerked for a federal judge, then you went to Sullivan and Cromwell one of the most successful law firms in the United States. And then all of a sudden you become chairman of the SEC where you known to the president. Did you know President Trump? No, it's actually an interesting story. A client of mine asked me to go to Trump Tower to brief some people in the transition. And how our capital markets were functioning and areas for improvement. And one thing led to another. And when you some interviews and then, and then I interviewed with the president. Okay. Did he have any tough questions tough for the minor? You're pretty good. But my told he was very impressed with you. And he said, this person looks like these should be determined. The SEC were you surprised that he offered you the job? We, we had a really good discussion. Okay, because I, I think you're always surprised when you're off the job like this. So the president proposed that you become a chairman of the SEC when you do that you have to sell all your securities. You have to give up your partnerships. They didn't tell me all that. They didn't tell you. So today, does a congress bother you on a day-to-day basis? They say go regulate this, or do that, or you know what I EV every minute, I spend up there is valuable because it's real. It is really good to hear from members and senators from from both parties what they think we should be doing. It's good to know how someone looks at you. When they when they, you know, they're, they're my board of directors, is the White House for the president. They call you with advice or suggestions, or not that much, not so much are there any signs, you see the economy that people should be worried about is if they're an investor, or you don't really get into whether the economy is weakening, and therefore, maybe they should be cautious on their investments, macro. Investment advice steady long-term investing in, in America, and our economy has proven to be a good thing. I just I can take I continue to one our markets to be a place where people invest steadily overtime their, their retirement will be a much more comfortable. That's the number one question people ask me, will, I have enough money in retirement and the best way to deal with? That is to steadily invest to the extent. You can't over