20 Burst results for "Federated Investors"

Latest from the Stock Market

CNBC's Fast Money

10:10 min | 2 years ago

Latest from the Stock Market

"I'm Melissa Leo Best Carter Worth Tim Seymour's Karen fighter men and guide dominated Tommy. The countdown is on its apple's big event tomorrow. Will it be enough to convince enthusiasts the world over to trade up in the middle of trade war also ahead activists investor. Elliott management taking a three billion dollar stake in at and T. A. Saying ix nay on the bank they see a sixty percents upside potential traitors take a second look and Boeing pausing using stress tests on its new triple. Seven after issue is discovered. We've got the details ahead. We begin with the Big Bang breakout on the day. The S. and P. Five hundred ended in the red checkout. He's he's moves from City Bank. America Wells Fargo David Morgan all firmly in the green for wait a minute. It was just a few days ago. The racer plunging yield curves inverting cats and dogs living together together and now look so the banks turned a big corner guy this desk by the way cats and dogs living together guy who's not sorry sorry who had a cat or a dog. I guess well how good question to answer on TV well. Let's go to the marketplace Sultana think they've turned the corner at all but what happened is everything got a little ahead of itself and it's not like we haven't talked about this. We're not saying this in a vacuum. Go back Tuesday. I think before Memorial Day we actually power-pitch some of the banks specifically it was city saying that you know what boring markets slow week into a holiday markets probably GONNA rally the toto's probably gotten and ahead of itself when city trades that discount to tangible book historically over the last couple of years. It's been a buy and that's pretty much what's happening. I mean I don't think again. The landscape has gotten better for the banks. Necessarily just the trading landscape in the short term has so the city have more room yeah probably overshoot seventy two like it undershot to sixty one but I think the the headwinds that they faced still exists today are some rays of sunshine based on what the CFO told the Barclay Financial Services Conference today that they expect growth in the back. AH The year that there are other parts of the business that can offset some of the losses or the softness in sort of the rate sensitive businesses so can you sort of extrapolate that some of the other brings thinking. Maybe things aren't as bad as people thought yeah I think I think that what the price they were trading at before. Two days ago really reflected a lot of things so I don't think I more that a lot of bed extra too much penalties there. I think if you think about where Citibank was trading you know well under ten times earnings a three percent yield. JP Morgan tend to change times earning a three and a half percent yield Bank of America under ten times earnings. I mean that's a lot about news priced in and their business models aren't all interest income right. There's a lot of other income in there as well so I think you know the market just saying Oh the whole book of Big Money Center banks is a giant two year tenure spread it must be going to zero didn't make sense. I'm not selling them here. I think they're still attracted. I'll actually question because we've had one kind of from a market position. Technicals Protective Talk and fundamentals. I'll talk to you the context of the overall market this this could you could make a comparison to the first quarter twenty sixteen when we're worried about global growth and banks essentially got through this period where once we got the sense that recession was off the table banks want on argue a very historic run for them relative to at least the cycle. Citibank's up thirteen percent eight days. It's up close to sixteen percent in sixteen days if you look at the X. L. F. It's basically kept pace with the SNP. Despite all of the things things that have happened to bank so the most important thing that happened today and I hate hyperbole may but I will tell you I think this is one of the most extraordinary trading days of the year that no one's talking about impressive was flat and yet you had banks three percent. You had expertise three and a half percent. You would transfer this is a major day for the march is not about the banks banks right. It's a behavioral thing. Is You look at the one hundred. What was the best performing stock the more beaten down. You were the better your slumber J. Lead. You Got Simon Property. You've got things like I mean in hindsight which is literally down eighty percent. Ge in the top ten so it's it's not a bank story although it is that's part of the story because they matter the most. It's simply dead. Cat bounces and dead cats do bounds but do they really come to life. No they're still dead heartbeat. It was more about deflation isn't as bad as you thought. I'm not going to tell you that deflation because I believe it's there's some stuff as leftover from the crisis but but deflation as it was exemplified and illustrated through bond yields around the world through gold going through the roof through everything else that was related to acid replacing going through the floor. The rally today are asset based their reflationary based and that's very exciting sites the retail these are retails that won't exist at some point in three five seven whether it's an urban outfitters. Tayo Ay and it's again it's it's it wasn't specific the banks the fact that it was craft. Ge tells you it was just an unwinding. If there's two sides here on this side of the desk extraordinary training day or just dead cats that's bouncing to make extraordinary trading day in terms of the move in yield terms everything he pointed out was extraordinary the context of what we've seen but I tend to sort of I I well. It should come as no surprise ten more with Carter Worth. I do think these are bounces within the framework of things that have just been oversold. I mean you mentioned Simon Properties. These go back and look where it bottomed out in April. Two Thousand Eighteen look where recently bought them at so you can understand the bounce slumber. J. has been left for dead. I mean we've talked about it. Seemingly for a year and a half trying at least I have tried to ascertain when the bottom would be unsuccessfully. We've seen moves like this before. This will be so again. I guess the fact that the SNP when he was unchanged today bowls could say what that someone constructive bears could say it should have been up twenty five handles on a day like today the other flipside of what happened today was growth oath at any price which had been where everyone wanted to go no matter what terrible complete reversal names like crowd strike or zoom right just absolutely getting annihilated highlighted today so you're just a rotation is just everything that didn't work now pile into that everything that did work time to bail but the question is exactly. I can't can't be in a crowd strikers in there too expensive. They're expensive. Yes two days ago even down ten percent too expensive for me. I think would momentum goes out. Those kind of names have were down to maybe more it's not. It's not terribly surprising that a crowd strike in company and their ilk are going down. Maybe on a daily today or just not rallying as much what's been interesting. Is that Koogle Amazon anything. That's been defensive relative momentum but actually you know they. They tend to be low momentum. Stocks in in difficult times in the market are under performing to Carter cares rights talk about. I don't know anything changed slumber J. in the last week in fact I think lenders as got some tough times ahead of them but when I look at some of the other parts of the market including the transports that are very real companies that are not going out of business that I don't think they're dead. Cat bounces. I'm not saying the world has gotten better in two days. I'm I'm telling you that it's always about positioning. It's always about where I think. The market momentum is we've got an ECB meeting coming up in a few days it's also going to I think help tell the tale of work. Global yields yields go because I think that the European Union is the one that was dragging global yields down and we know that the machines momentum is on both sides momentum down or some momentum up in if I go and when it flips. It's the you get these levers going on both sides but it doesn't usually last that long. At what point do you think I mean. Would you would take a lot of time and a lot more of this kind of thing. Because we saw the bouncing we saw in the certainly bouncing today. You just need in a lot more than I I agree cars. I don't think anything can you can't say suddenly it's it's all good for all these things that have underperformed for long time but for the last three weeks we've seen the DAX ax outperforming the machine emerging markets outperformed so This isn't a one day phenomenon today. It was a bit of an exclamation point on things that really suffer from deflation all right her neck. Scott says you may WanNa pump the brakes on the banks especially ahead of next week's. Fed Meeting joining us now. Steve chaperone equity strategists portfolio manager at Federated Investors Steve Great Great to see you again. so is it just the banks or is it all of these sectors that were dead cats bouncing Carter. I don't know if I'd do as far as the dead cat I. I'm somewhere in between I think Carter and Tim here and what I mean by that is it's very enticing when you look at the move in the banks today and you put it in the overall context then that context has rate rates bottom two weeks you go and have moved higher. The city surprise index bounced into positive territory week ago and value in general has moved up so there's an inclination to want US okay this is. This is the move in the value cyclicals that we've been waiting for. I think you need a little bit of confirmation on that. I think you need see what the Fed does in a week. I think they need to deliver against market expectations I think. ECB similarly has to at least provide some some delivering. I think this meeting is not as important as the one that comes in November when Christine lagarde takes over but move the ball forward and then I think you need the data that continue to come in strongly. If what we're talking about is a global reflation trade because the stimulus that's been put in the system helps the economy to move in the in the back half of the year. That's incredibly bullish and so I'm enticed by it but I'm not willing to kind of jump all in on it just yet so how are you. How are you positioned in the market right now. It sounds like like your you want to see how the data plays out. It sounds like you think I mean the federal probably cut twenty-five deliver on something that's sort of in the expected realm the the data is a little bit of a question mark at this point. So what do you do you think about the market right now is really a battle between the P and the right the P. should be higher. We've taken the discount outrage for stocks and we've cut it in half the only reason why the market isn't higher is because the market's concerned about recession and so they're worried about that e part so I think what it really comes comes down to is how our earnings gonNA come through and that's why trade matters. That's why Hong Kong brexit matters our view. Is that our base case. Scenarios earnings are going to be okay. They're going to be flat right to slightly up. You're going to get a revaluation higher because of those lower yields and that's where you play out over the next six to twelve months however over the course of the next month or so. I WANNA WANNA see how that goes. I want to see how the Fed goes. I WANNA see how earning season so when we were here earlier in the year we were eight percent overweight.

Carter Citibank David Morgan FED Tim Seymour Apple City Bank Melissa Leo GE America Hong Kong Elliott Bank Of America ECB Boeing Sultana Big Money Center T. A. Toto
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:13 min | 2 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Jeep sport, utility vehicle division delivery slipped. Two point three percent. For February missing analysts average estimate point three tenths of a percent, Toyota and Honda also drill directions. Bloomberg new survey right now Ford is down a quarter of a percent GM is down half percent. That's a Bloomberg business flash. Greg jarrett. You're listening to Bloomberg markets with Lisa Abramowicz impulse. We need on Bloomberg radio. Well, it looks like ride sharing company lift is going to beat its Guber competitor Uber to the IPO market. We're expecting a filing filing from lifts sometime today seeking evaluation up to twenty to twenty five billion dollars for the ridesharing company. Thomas dig into this pending IPO is manned deep seeing a senior technology industry analyst, Bloomberg intelligence covering all things software. He joins us on Bloomberg interactive brokers studio here in New York Mandy, thanks for joining us. So first of all how important is it for lift to be first to market vis-a-vis Uber. Sure. So we think since lift is a smaller guy, and you know, they don't have the same. Branding as Uber. Has you know globally. It makes sense for them to go. First simply because they can generate some excitement around the numbers. You know, the fact that this is a large market, we think it could be a trillion dollar market. In the next five years. I think it makes sense for them to go. I just because of the fact that they are the smaller guy, and and they can garner a higher evaluation. If they were to go first. So let's say lift does get evaluation between twenty and twenty five billion dollars, which I believe is the target craft. What does that say about the valuation of Uber? Yeah. So we value the company based on its sales right now. So from what we know the trailing twelve months sales for lift with is somewhere around two billion dollars. And if they do if they're doing like about fifty percent growth next year. So based on a Ford multiple they around twenty to twenty five like you said, so Uber is five-time slipped. Uber revenues somewhere around eleven to twelve billion dollars. If you value them, you know, based on the fact that they could grow thirty to forty percent next couple of years, we're talking about at least one hundred billion dollar valuation for ruber. So I'd like to see a lot. Mendip companies you have to value on revenue because there's little to no cash flow. There's little to no earnings. So let's go down the income statement. Here for Uber is a company profitable. If not when do you think it becomes profitable? Yeah. So that's the uncertaiunity around the business model for these companies. The fact that it's a large market the fact that these guys are duopoly Uber and left is great. But when it comes to gross margins we still don't know if their gross margins are as high as other tech companies, it could happen that they are subsidizing the rides and drivers so much that they're gross margins are sub fifty percent, which we think could be a heaven for profitability in the next three or four years. And that's the biggest concern that the fact that they are not cash flow positive the fact that if their gross margins allure than other companies, then what's the path to profitability, and that's an unanswered question. So lift like, Uber and other tech. Companies have relied on private markets and debt markets until this point to finance themselves and have lent Abberley on those markets. And I'm just wondering at this point in the life cycle of lift and soon to be Uber. How much upside could they're potentially be for equity investors. In other words, is still very much growth story that they're peddling. Or is this a mature company that is going to try to solidify their their market share? Oh, it is definitely a growth story. I mean, I go back to the fact that no matter how you slice this market based on the total number of miles traveled globally, which is close to eight trillion miles. So you know, ridesharing is still sub five percent of the total miles travel. And the fact that everyone has a smartphone. Now, you can track their location, you can offer them ability services. These guys can expand into food delivery. But but what's the barrier to entry here? Well, the barrier to entry is the scale. So the fact that Uber has a scale DD has a scaling China lift to an extent is the number two in US. Once you have scale, you have network facts. And this is a mote that keeps growing because you are constantly acquiring more data about the rides about you know, people and over time this is a mode that's hard to crack. So being I out to the marketplace. What do you think lift is going to do or say to try to differentiate itself from Uber? Yeah. So we think the fact that live focuses more on the US market, which has higher SP's in terms of the average ride, you know, compared them to globally average cost provide is much lower. So US is a much more attractive market from a profitability perspective. And now they've expanded into China. And and lifts market. Share is growing in the US so Uber previously had eighty percent share. Now, it's seventy percent on lift is closer to thirty percent. So we think the fact that. That they are more domestically. Focus which is more attractive market is good for left. Thank you so much for being with us. We know you've got a busy few weeks ahead of you saying is senior tech industry analyst for Bloomberg intelligence lift IPO at the Rhode show begins soon. The expectation is it will be valued between twenty and twenty billion dollars some excitement here a number of initial public offerings that are coming to market this year, which is sort of interesting, especially at a time. When a lot of people are wondering where the next leg of a rally inequities will come and could the potential sales of equities dilute or possibly add to the supply and create sort of a little bit of weakness in there. We're gonna be talking about that and much more with Orlando. Coming up from federated investors right now, though, let's head.

Bloomberg US Bloomberg interactive brokers Ford analyst China Greg jarrett Toyota federated investors Lisa Abramowicz Honda Abberley GM Orlando New York Mendip Rhode ridesharing Thomas
"federated investors" Discussed on CNBC's Fast Money

CNBC's Fast Money

01:46 min | 2 years ago

"federated investors" Discussed on CNBC's Fast Money

"And we'll I mean, you can't tell me I get the fact that banks could be seen at the epicenter, especially if there's a credit wars. Stocks semi. I didn't hear your question because. I can't hear you. It's apples to oranges. What is the question? Question is what is more economically, sensitive banks or semi stocks? I think Chevys I have as a business or as a stock a sector as on the rest of them are we're not going to be. So you probably want to move on. Do you save banks seven? It's obviously banks. Don't be silly. Is that what you said last week? You said Tim was being silly. This. On the rascal. Our next guest says forget about earning storm mega rally for the market is coming. Let's bring in Steve Chevron for folio manager at federated investors. See welcome to the show. I'm going to start this interview with in an unconventional way. I'm going to ask this desk. What they think of your prognostication of up twenty percentage of the year show of hands. Who believes the market will go up twenty percent this year over would just by the end of the end of the year. All right, Steve the markets are going to go to. Do I know offense discouraged? Look that's fair. Just about the fact that the market shouldn't be here. Right. And that was idea right Bank. Shouldn't be here. We don't think that the market should have ever been at twenty three fifty at twenty three fifty in our mind year pricing in a recession if you don't have a recession than we think that there's considerable recovery. And if you go back, and you look at the prior nine recessionary pullbacks fifteen twenty percent pullbacks you fall on average about twenty percent. It takes a couple of months to double bottom. But you're six and twelve month out returns or quite good. It's twenty percent over six.

Steve Chevron federated investors Tim twenty percent fifteen twenty percent twelve month
"federated investors" Discussed on CNBC's Fast Money

CNBC's Fast Money

03:16 min | 2 years ago

"federated investors" Discussed on CNBC's Fast Money

"So there's a lot of ways that they can actually come back at us branches or or whatever you wanna talk. I just think there's a lot of message between we get the bigger issues being filled socks are testing critical level here. But our next guest has a Santa Clause rally still on table. That's brand. Steve, Chevron, the portfolio manager at federated investors. Most of the time is passing the clock is ticking. I mean witnessed Santa Claus coming. Steve Could it be reindeer reindeer on on the the roof. roof? Bumpy sleigh ride if he comes. I think if he comes if okay because here's what's going on. I think all the concerns have been raised. Here are correct. It's a matter of degree though, argue that yes, the economy is slowing rates are rising. Inflation has Bill. We do not see a recession next year. We see it economic slowdown in that environment, which priced into the market here. Consumer still remains strong earnings growth. We still think is going to be five to ten percent next year with GDP growth is still two and a half at some point. You've priced that in you will find a bottom, and we think you can March higher how long this volatility takes though is anyone's guess, I think that's the push and pull on Wall Street right now is that the fundamental still remain. Okay, going forward. But the volatility, and the fact that we broke below some key support levels opens up more downside risk. And so you've got to be careful how you trade from here that there have have the market's price in five percent earnings growth next year. I think the markets were pricing in a deceleration and uncertainty around that number. They don't understand what the impact of tariffs. Go into twenty five percent are going to be. On that earnings if we do export controls next year. How do you price that in for some of the tech companies and that uncertainty? I think if you knew for certain we were going to get five percent earnings growth that's better than this uncertainty that we have right now. And that's why trade certainty really can help. Hold on state. We got some breaking news on the sentencing of former Trump lawyer Michael Cohen, let's get to Illinois NBC for the details. Ilan Melissa New York prosecutor saying that Michael Cohen, President Trump's former personal attorney should serve a substantial prison term after accusing him of financial crimes and of lying to congress. Generally. He would face fifty one to sixty three months in prison. Now, the sentencing memo is important because in detail the scope of Cohen's cooperation with prosecutors. And that cooperation appears to be limited. The memo says repeatedly that Cohen declined to provide full information about the scope of any additional criminal conduct in which he may have been engaged or had knowledge. It also said that he did provide useful information. But that he does. Sided knocked it pursue full cooperation. Therefore, it said special counsel cannot say that his overall level of Cohen's cooperation to be significant. The prosecutors also suggested that his reasons for working with special counsel's office may have been self serving. It said any suggestions that his meetings with law enforcement reflect a selfless and unprompted about-face or overstated guy. So Cohen has provided. Here only limited help we also know that manafort's plea deal in exchange for cooperation that went sour or expecting to get some more details on that soon. The question now is whether this means Robert Muller is getting the information that he is seeking. How far are we away from a conclusion to his report we are still digging through all of these court documents, and we'll get back to you. If we find anything else, Melissa. All right. Allan. Thank you Yulon Moi in Washington. How does this impact the markets?.

Michael Cohen Steve Ilan Melissa New York federated investors Robert Muller President Trump special counsel portfolio manager Yulon Moi Trump Allan Illinois Sided Washington manafort financial crimes congress
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:58 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Los Angeles. Rams star Aaron Donald has signed a record contract the star defensive. Tackle ended his holdout by signing the richest. Contract any defensive player has signed in NFL history the Rams announced the new six-year deal through the two thousand twenty four season worth one hundred. Thirty, five million dollars NFL contracts are not guaranteed however so. The guaranteed portion of the contract is especially important Donald got a forty million dollar signing bonus. And eighty seven million. Of the one hundred thirty five. Million is guaranteed Donald is entering his, fifth season he was selected to the Pro Bowl each of his first four seasons in the league. And was. The NFL defensive player of the, year last season. I'm John Stolnis Washington Post reports a Maryland man nNcholas mims who is black. Is suing six flags America for ten million dollars he claims that guards beat him up. As he left the park. After disagreement this summer I'm Barbara Kusak And I'm Charlie Pellett Bloomberg world headquarters mixed Friday for US stocks at was a winning week as we, have been reporting the Trump administration and Canada will resume. Their trade talks next week after discussions ended. With no deal Phil Orlando is chief equity strategist. At federated investors, in our view the market is. A little extended I think we're in a fundamental vacuum, if you will for the next six. Weeks or so and I think we are going to see a risk off environment over the course of the next month or so. And brench shoot he is chief investment strategist at northwestern. Mutual wealth, management he says NASDAQ. Has remained resilient the tech sector is one of those sectors that have perceived to be safe from the potential economic damage of any trade war. That, may result therefore I believe it is getting, safe haven, money developing nations stocks slumped for a third day and India's rupee dropped to a record as contagion spread from Argentina and. Turkey with, more here's Bloomberg's John Tucker contagious kicked in for. The emerging markets According to Johns Hopkins University economist Steve Hanky the, more these emerging market currencies collapse there there is an. Increase probability that what we'll have some blowback. In the big major market he says the strong. Dollars putting massive, pressure emerging-market currencies and that will. Not change anytime soon Anki senior cannabis with President Reagan's, council of economic advisers and a served. As an advisor to heads of state in various emerging markets John Tucker Bloomberg radio and standard and Poor's says Argentina may be cut. Deeper into junk amid the peso plunge stocks mixed trading. Was thin, s. and p. five. Hundred index up less than half a point a weekly gain their NASDAQ up twenty one close to a record up three tenths of one percent. The, Dow down twenty two down one tenth of, one percent, global news twenty four hours a day on air and a tick tock on Twitter powered by more than twenty seven hundred. Journalists and. Analysts in more than one hundred twenty countries I'm Charlie. Pellett this, is Bloomberg this is.

Aaron Donald NFL Bloomberg nNcholas mims Rams Steve Hanky John Tucker Bloomberg Los Angeles Argentina federated investors Tackle Johns Hopkins University six flags America John Stolnis Washington Post John Tucker Twitter Phil Orlando Maryland
Los Angeles Rams agree to record deal with Aaron Donald

Bloomberg Business of Sports with Scott Soshnick and Michael Barr

00:38 sec | 3 years ago

Los Angeles Rams agree to record deal with Aaron Donald

"Angeles. Rams star Aaron Donald has signed a record contract the star defensive. Tackle ended his holdout by signing the richest. Contract any defensive player has signed in NFL history the Rams announced the new six-year deal through the two thousand twenty four season worth one hundred. Thirty, five million dollars NFL contracts are not guaranteed however so. The guaranteed portion of the contract is especially important Donald got a forty million dollar signing bonus. And eighty seven million. Of the one hundred thirty five. Million is guaranteed Donald is entering his, fifth season he was selected to the Pro Bowl each of his first four seasons in the league. And was. The NFL defensive player of the, year last

Aaron Donald NFL Bloomberg Nncholas Mims Rams Steve Hanky John Tucker Bloomberg Los Angeles Argentina Federated Investors Tackle Johns Hopkins University Six Flags America John Stolnis Washington Post John Tucker Twitter Phil Orlando Maryland
Argentina’s Peso Tumbles as Turbulence in Emerging Markets Spreads

Bloomberg Best

01:24 min | 3 years ago

Argentina’s Peso Tumbles as Turbulence in Emerging Markets Spreads

"A, mixed Friday. For US stocks it was a winning week thin trading as the Trump administration and Canada plan on resuming trade. Talks next week after discussions ended, with no deal as for the market outlook Phil Orlando is chief equity strategist at federated investors in our view the market is a little extended I think. We're in a fundamental vacuum if you will for the next six weeks or so and I think. We are going to see a risk off environment over the course of the next month or so and brench Schutte is chief investment strategist at northwestern mutual wealth management he says NASDAQ has. Remained resilient the. Tech sector is one of those sectors that have perceived to, be based on the potential economic damage of any trade war. That may result and so therefore I believe it is, getting safe haven money developing nations stocks slumped for a third day and India's rupee. Dropped to a. Record as contagion spread from Argentina and Turkey with more here's Bloomberg's John Tucker contagion has kicked in for the. Emerging markets According to. Johns Hopkins University economist Steve, Hanky the more the market currencies collapse there is a increase probability that. What we'll have some blowback in the in the big major markets he. Says the strong dollars but massive pressure on emerging. Market currencies and, that will not change anytime soon. Anki was senior economist with President Reagan's council of economic, advisers at a served as an advisor. To heads of state in various emerging

Anne Cates Ford Trump Administration Bloomberg Charlie Pellett John Tucker Bloomberg Argentina United States Jama Adhd Hanky Disorder Twitter Brench Schutte Johns Hopkins University Phil Orlando India LD John Tucker
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:40 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Of defrauding investors her company unraveled amid revelations that her main product was a fraud she stepped down today as ceo stocks fell on the final day of a week that included the us north korea summit major central bank meetings and escalating trade tensions between washington and beijing phil orlando's chief equity strategist at federated investors the united states is running a deficit of about three hundred seventy five billion dollars on merchandise basis points seventeen with china that accounts for about two percent of gdp the ministration would i'd like to see that number reduced i think to somewhere in the neighborhood of order magnitude one hundred fifty to two hundred billion dollars china i think what's going on right now is that negotiation and terry hanes as an analyst ever core isi the bigger question is whether china intends to make good on its threat to to pull back from trade negotiations because if they do that then you have a trade war for sure but if they don't you don't do you have a ratcheted up tit for tat and a little bit of extra job but not that much fleet core technologies will replace time warner in the s and p five hundred index stocks lower it was a winning week for the s and p five hundred index today the s and p dropped two points down one tenth of one percent the dow down eighty four down three tenths of one percent nasdaq down fourteen down two tenths of one percent global news twenty four hours a day on air ended tick talk on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm charlie pellett this this is bloomberg you're listening to bloomberg best on bloomberg radio.

bloomberg beijing north korea ceo charlie pellett twitter analyst terry hanes china federated investors phil orlando washington us fraud one percent three hundred seventy five bil
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:52 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Of defrauding investors her company unraveled amid revelations that her main product was a fraud she stepped down today as ceo stocks fell on the final day of the week that included the us north korea summit major central bank meetings and escalating trade tensions between washington and beijing phil orlando's chief equity strategist at federated investors the united states is running a deficit of about three hundred and seventy five billion dollars on a merchandise basis points seventeen with china that accounts for about two percent of gdp the ministration would like to see that number reduced i think to somewhere in the neighborhood of order magnitude one hundred fifty to two hundred billion dollars china i think what's going on right now is that negotiation and terry hanes as an analyst ever core isi the bigger question is whether china intends to make good on its threat to to pull back from trade negotiations because if they do that then you have a trade war for sure but if they don't you don't you have a ratcheted up tit for tat and a little bit of extra drama but not that much fleet core technologies will replace time warner in the s and p five hundred index stocks lower it was a winning week for the s and p five hundred index today the s and p dropped two points down one tenth of one percent the dow down eighty four down three tenths of one percent nasdaq down fourteen down two tenths of one percent global news twenty four hours a day on air and tick tock on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm charlie pellett this is bloomberg this is masters in business with barry ritholtz on bloomberg radio i haven't extra special guests this week his name is senator george mitchell he was the majority leader of the.

beijing north korea ceo senator george mitchell barry ritholtz bloomberg charlie pellett twitter analyst terry hanes china federated investors phil orlando washington us fraud one percent
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:42 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Of defrauding investors her company unraveled amid revelations that her main product was a fraud she stepped down today as ceo stocks fell on the final day of the week that included the us north korea summit major central bank meetings at escalating trade tensions between washington and beijing phil orlando's chief equity strategist at federated investors the united states is running a deficit of about three hundred seventy five billion dollars on a merchandise basis points seventeen with china that accounts for about two senate gdp the administration would like to see that number reduced i think to somewhere in the neighborhood of order magnitude one hundred fifty to two hundred billion dollars china i think what's going on right now is that negotiation and terry hanes as an analyst at ever core isi the bigger question is whether china intends to make good on its threat to to pull back from trade negotiations because if they do that then you have a trade war for sure but if they don't you don't you have a ratcheted up tit for tat and a little bit of extra drama but not that much fleet core technologies will replace time warner in the s and p five hundred index stocks lower it was a winning week for the s and p five hundred index today the s and p dropped two points down one tenth of one percent the dow down eighty four down three tenths of one percent nasdaq down fourteen down two tenths of one percent global news twenty four hours a day on air and a tick talk on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm charlie pellett this is bloomberg you're listening to bloomberg businessweek with carol massar and jason kelly from bloomberg radio.

twitter jason kelly senate beijing north korea ceo carol massar bloomberg charlie pellett analyst terry hanes china federated investors phil orlando washington us fraud
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:40 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Of defrauding investors her company on raveled amid revelations that her main product was a fraud she stepped down today as ceo stocks fell on the final day of the week that included the us north korea summit major central bank meetings and escalating trade tensions between washington and beijing phil orlando's chief equity strategist at federated investors the united states is running a deficit of about three hundred seventy five billion dollars on a merchandise basis points seventeen with china that accounts for about two percent of gdp the the ministry i would like to see that number reduced i think somewhere in the neighborhood of of order magnitude one hundred fifty to two hundred billion dollars china i think what's going on right now is that negotiation and terry hanes as an analyst at ever core isi the bigger question is whether china intends to make good on its threat to to pull back from trade negotiations because if they do that then you have a trade war for sure but if they don't you don't you have a ratcheted up tit for tat and a little bit of extra drama but not that much fleet core technologies will replace time warner in the s and p five hundred index stocks lower it was a winning week for the s and p five hundred index today the s and p dropped two points down one tenth of one percent the dow down eighty four down three tenths of one percent nasdaq down fourteen down two tenths of one percent global news twenty four hours a day on air and tick talk on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm charlie pellett this is bloomberg this is bloomberg businessweek from bloomberg radio.

bloomberg beijing north korea ceo charlie pellett twitter analyst terry hanes china federated investors phil orlando washington us fraud one percent three hundred seventy five bil
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:51 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"The yen one oh six point four six and that's a bloomberg business flash leeson pimm thank you so much karen there's a big question in markets right now what is the message from credit markets to equity markets we have seen a little bit of an increase in the extra yields that investors are demanding to own investment grade bonds does that portend some negative winds to come for us equities here to perhaps answer that question our j gallo federated investors senior portfolio manager thank you so much for being with us ahead of this federal reserve wednesday you're coming to us from pittsburgh so what's your take on this i mean what's the message from credit markets right now about where we are in the cycle and whether equity markets have gone too far too fast well good morning and thanks for having me on the credit side and you know clearly there's been some weakness within our multisector portfolios we remain overweight so it's i g n hi your credit it's hard to deny of course that we've seen some underperformance there are view on the economy is still constructive the recent data retail sales for example or maybe what's coming out of housing maybe some cause for cautious but we still think that there's wind at the back of the us economy corporate profits are still growing we still think spreads although they've stumbled lately told in there and relative outperformance from taking credit risk is the direction to go with your fixed income dollar in terms of the signal for the equity markets there's there's a view that when spreads widen out sort of the yellow flag for stocks and and many people are aware that it's gotten a lot of talk as you mentioned are equity colleagues remain constructive on the equity markets.

pittsburgh bloomberg karen j gallo federated investors senior portfolio manager us
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Is a bloomberg business flash and greg jarrett this is bloomberg markets with pimm fox and lisa abramowicz on bloomberg radio pay powerful start to the new year that's what phil orlando the chief equity market strategist and head of client portfolio management add federated investors says and he joins us here in our levin 3o studios fell always a pleasure thanks for being here morning a powerful start to the year indeed s p 500 is up four and a half percent year to date nasdaq up five and a half percent you think this is going to continue short answer is yes maybe not the straight line or view is that we might have a little bit of a bar bill year a really great start to the new year uh some top in the middle of the year for a couple of reasons probably related to a fed policy and the upcoming midterm samson than we think we end the year and a high note that gets us up to about the thirty one hundred level so we're looking at a a hundred and fifty five dollars and corporate earnings for this year we still think a twenty multiple is appropriate given where interest rates and inflation are and where we think they're going and uh that gives us a thirty one hundred year which would be you know it's sort of mid to upper teens over the course of the year so uh i think we're up about twenty two percent last year probably not quite that strong this year but you know altay you know fifteen seventeen percent something like that so phil let's talk about the tax cuts and what companies are going to do with that money um we saw larry fank of blackrock come out and say he wants to see what companies are going to do with it at the same time you see bank of new york mellon we were talking about this earlier they came out and said the probably gonna reinvest it in their employees their shares in response fell more than four percent you as a shareholder what would you like to see companies do with this money the shorter insurers the need to do the right thing for their specific circumstance and we don't know what that am to rich so let me let me through paint that parameter.

greg jarrett pimm fox phil orlando market strategist interest rates larry fank bloomberg lisa abramowicz federated investors bank of new york mellon fifteen seventeen percent thirty one hundred year fifty five dollars twenty two percent four percent
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:53 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Bit more pushback probably from their voters as the voters will no longer be able to pay for that somewhat by deducting from there just a gross than come on their federal return in many ways that is more of a challenge the states that are already highly highly taxed states like new jersey or in new york um and so when it as we look forward here we are going to keep a close eye on on how say in new jersey deals with this major change in in in this sort of federal relationship between the federal tax station system and the state one um and new jersey's already highly packs so it it is a challenge i would argue from a security selection standpoint uh staying overweight revenue bonds and underway geo this where we still are likely to be for quite some time within the geospace we're gonna have to be careful looking at some of those high tax states and how do they deal now with this this headwind they face with respect to managing their own their own tax policy and that that had went obviously emanates from the from on the cap on the state local tax deduction i dunno if it'll directly translate into more fees or not i i think that your your your question very insightful because what we've seen in some states like new jersey and pennsylvania my own state is when the state government needs more money um they don't always just go out there and raise taxes they often raise fees on essential assets toll on the planet turnpike for example that helped to subsidize other non toll roads around the state as the posters going out and raising the state tax so one day it's a key point to what we got to leave it there rj gala federated investors senior portfolio manager it is time now to find out what's going on in the world the news let's go to michael barr michael pillow appar me a little girl homeowners in states with the highest property taxes are looking to prepre 2018 bills ahead of a ten thousand dollars cap while.

tax policy pennsylvania property taxes new york federated investors senior portfolio manager michael barr ten thousand dollars one day
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:01 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Moscow we're speaking with r j gallo he is the senior portfolio manager ahead of duration committee at federated investors rj let's talk about municipal bonds or rather you talk about municipal bonds big issuance in december's economic continuing will it affects supply in january well december was a banner banner month in the media market um i think by bloomberg's data it was the largest amount of gross issuance excuse me and the minivan market uh since the enactment of the eighty six tax reform way back in the second reagan administration um dan taxes had a lot to do with what happened the proposal from the house to eliminate private activity bonds and advance our findings on taxes and basis uh guy many issuers worried that they were going to lose access to the tactics the market come 2018 and they rushed to issue bonds in late november and december had the turned out the senate version of the bill really dominated with respect to community provisions um which eliminated taxexempt advance for fundings which are a significant portion of growth issuance depending upon the interest rate environment but over time am it could be twenty thirty percent of this joins um so a lot less growth is you went to going forward in exchange for the rush the issue that we saw him at the end of november and in december two next year read expect west growth issue and then again as i mentioned in a pretty good steve uh supplydemand matter everywhere they certainly matter immunity uh in the technicals are pretty friendly for muny relative outperformance compared to other high quality investment grade taxable bond merely because the technicals are sort of winded are back a one thing to know lower corporate tax rate should probably diminished demand from banks insurance companies for taxexempt investments but the simple fact that matter is that the top marginal referring to visuals didn't go down that much thirty seven percent now and we would anticipate that the impact on demand uh we'll be overwhelmed by that technical much larger decrease in supply so we're reasonably positive on mururoa to perform at the 2018 at least for the.

Moscow senior portfolio manager federated investors bloomberg the house insurance companies media market reagan senate steve corporate tax twenty thirty percent thirty seven percent
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:36 min | 3 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Moscow our guest is our j gallo of federated investors senior portfolio manager head of duration the committee orgy go what is a generation committee barreda derision committee is a group of senior portfolio managers traders uh our global fixing come see eye of bother strahovski and we convene uh every month and sometimes more frequently to look across the factors that we believe are driving us interest rates and to stack the duration governor that dan permeates through the intermediate and longterm bond portfolios are firm manages so durations one driver of bond returns we try to bring together mines from across the fixed income grew to set duration targeting that is then followed with with judgment by the portfolio managers of the various portfolios we run okay can you give us an example of how the group has changed its recommendation so that we understand the mechanism by which it and implement these decisions he absolutely every fixed income portfolio federated have a strategy relevant benchmark so for example the total return bond fund which is our largest um investment grade portfolio multisector across treasuries corporates uh highyielding in emerging markets of cetera is manage relative to the barclays aggregate index um the i'd index of course has a duration and the duration committee are output is to provide a recommended uh percentage of back index duration that the portfolio manager should follow but they're given latitude around except for example um for much of this year we've expected treasury yields to rise and as a result uh we have been recommending a duration typically between ninety to ninety five sometimes ninety seven and a half so being short your benchmark duration uh because we anticipate does yields rise being sure we give you opportunities for relative outperformance will the tax package passed and as it was working its way through congress what did you guys go back to your offices incidental work and say okay here's what we need to think about different portfolios as a result of this what changed oh great question uh bt interestingly enough you know there's two allies have we talk about you know everybody's expecting joos rise for for very long time it oftentimes people focused on the 10year treasury but if you go back and you look at the yield on the bloomberg barclays treasury index which is the treasure component of the of.

Moscow j gallo federated investors interest rates treasuries portfolio manager congress barclays treasury index senior portfolio manager dan bloomberg 10year
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:13 min | 4 years ago

"federated investors" Discussed on Bloomberg Radio New York

"Now let me white house spokeswoman sarah sanders defender president trump today saying the difference between accusations of sexual misconduct against democratic senator al franken and those against donald trump during his presidential campaign are frank and admitted wrongdoing and trump did not correspondent ben wedeman reports iraqi forces have retaken the town of raw walk from the islamic state one of the militant groups list footholds in the country at one point i six with ruling over more than ten million people in iraq and syria but their fortunes have changed radically and now they basically control small villages and great sway desert essentially they rule over camels sheep goats and lizards i'm barton necker john boyega and i'm charlie pellett at bloomberg world headquarters a down for us equity markets as stocks failed to add to the best rally in two months fill orlando eve equity strategist at federated investors where gortat twothirdsonethird mix 65 percent box 35 percent uh bonded and cash so we we've got a toe apparently constructive you what's going on with the economy in the financial market here saudi arabia's energy minister says opec and its allies should announce an extension of their output curbs when they gather at the end of this month chris cells covers the oil market for bloomberg news what's it tastes be the case is that russia this the puffing just tracking a seat it doesn't scenes who want to get bound into this chess yet thinks that why should day basically announced an extension for deal which doesn't actually finish until the end of march what saudia saying follow saying is that we don't think global stockpiles we'll be back to the 5year average by the end of march is that kind of benchmarks that they're trying to aim towards tesla took the wraps off of its newest project an electric semi truck it comes as the company struggles to deliver its model three massmarket car craig trudell covers.

russia bloomberg gortat orlando bloomberg world syria iraq ben wedeman frank president craig trudell sarah sanders oil market opec saudi arabia federated investors equity markets charlie pellett presidential campaign donald trump al franken senator 35 percent 65 percent two months 5year
"federated investors" Discussed on KBNP AM 1410

KBNP AM 1410

02:03 min | 4 years ago

"federated investors" Discussed on KBNP AM 1410

"S p 500 is down a quarter percent down six the dow is little changed down thirteen that has he's down seventenths of were sent them forty four the ten years up three thirtyseconds the yield is two point two five percent west texas intermediate is it appears to be trying to change course it's a little changed about fifty sixty two barrel colmec's gold's down one and threequarters percent to twelve 93 ten amounts the end zeller twat twelve thirty three the eurodollar 1919 in the pounded dollar thirty five twenty one uh up applications for unemployment benefits of the us unexpectedly declined last week is that hurricane harvey related surge in texas filings continues to reverse that's your bloomberg business flash bloomberg markets continues now with lisa abramowicz thank you so much greg jarrett well right now i have two big questions about equity markets one is will banks benefited as the fed withdrawn stimulus or not and the second one is tech the next shoe to drop with some of the big favorites of the year plunged facing a potential fall to answer both of those questions is filler orlando chief equity strategist at federated investors who joins us now phil i wanna start with the first question bank stocks they're up more than ten percent this year a lot of people think that they're going to be in prime position to capture an extra profits many invalid till it he is the fed backs away from their stimulus as well as higher yields what we're seeing now is not a very clear picture volatility expertise not even as the fed with trust emulates rates yes in a short term up but longterm we're seeing that yield curve narrow is this a net benefit for the banks or frankly is this going to make it even harder for the banks going forward so all of you is that the banks or one of the prime beneficiaries of of what we believe will be this sort of unfolding fed policy so yelling yesterday buoys out uh the case for beginning the balance sheet cricket starting in october uh crank it over the course.

dow us lisa abramowicz greg jarrett equity markets federated investors bank stocks fed texas zeller harvey bloomberg orlando fifty sixty two barrel three thirtyseconds two five percent threequarters ten percent ten years
"federated investors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:18 min | 4 years ago

"federated investors" Discussed on Bloomberg Radio New York

"I i you know i thought about this early this morning and i think it's a good question from michael makir carl riccadonna the feds speeches notably from the two dissenters of the dot plot dissenters but the cook constantly of her press conference yesterday i i think the speeches will be just fess indy i wish we could get hear from vicechairman fisher but i believe that's time gone jail i think that his last meeting just concluded so we will at some point of course here from stanley fischer but not in the public forum his vice chairman the fifth at the fed speeches coming up we'll try to get those to his you can hear the speech of the day tomorrow from florence italy prime minister may bloomberg surveillance will lead with that coverage early tomorrow morning stay with us right now this is bloomberg bloomberg markets abramowicz join me for conversation with pill or land have cheap equity strategist at federated investors also be taking a look at leading economic indicators is the fed rate hike rates today at ten eastern on bloomberg radio this is a bloomberg market minute applications for unemployment benefits in the us unexpectedly declined last week as the hurricane harvey related surge in texas filings continued to reverse according to labor department figures today overall jobless claims fell by twenty three thousand to a total of two hundred and fifty nine thousand that was a much smaller number than what was estimated by economists surveyed by bloomberg they were looking for a number around three hundred in 2000 stock futures had little reaction to the latest jobless claims numbers s p futures down less than a point dow futures are down nine nymex crude is lower by almost seventenths percent at fifty dollars thirty six cents a barrel america loves its organic chickens the agriculture department says us producer sold seven hundred fifty million dollars worth of organic chickens last year surging seventy eight percent from 2015 that makes chicken meat that third largest agricultural commodity trailing milk at one point four billion and exit eight hundred and sixteen million ginossar betty bloomberg radio keen to try though real chinese spicy ipod well now you can get your hands on this.

stanley fischer vice chairman federated investors us bloomberg america agriculture department producer michael makir florence italy prime minister harvey texas betty bloomberg seven hundred fifty million do seventy eight percent fifty dollars milk
"federated investors" Discussed on KBNP AM 1410

KBNP AM 1410

02:11 min | 4 years ago

"federated investors" Discussed on KBNP AM 1410

"Live or at twenty five thirty basis points we we are seeing at that short into the curve higher borrowing costs so folks who have adjustable rate loans night bench off of live or which for a long time twenty five thirty basis points now over one percent right so you're seeing some in barring costs off the short into the car although with live where there also is the change in money market rules and it could be more that ten the fed tied i unfortunately we have to leave it there because i could stick with all afternoon leo housekey chief investment officer at and why it and melania wealth management here in san diego it is not going anywhere we're going to be i'm i'm gonna we'll continue also going to continue the conversation about markets with fell orlando will be coming on next chief equity strategist at federated investors will get his take on what the path forward is four stocks that are probably thought to be over valued right now is get a check on worlds at national headlines nancy lyons has that for us the bloomberg 991 newsroom in washington dc nancy thankfully said president and trump is tweeting today that reports he obstructed justice are phony and a witchhunt the washington post says special counsel robert muller is seeking interviews with three trump administration officials who were not involved in trump's campaign to see if the president asked them to help shut down the fbi investigation into fired national security the adviser michael flynn university of michigan law professor barbara mcquaid tells bloomberg muller is being very thorough robert muller what you want to see if he can probe other if you could corroborate that story or other he story and it sounds like the the interviewed of the cia director director intelligent nsa director is an effort to try the story the president's legal team is accusing the fbi of breaking the law by disclosing that the president is now under investigation the business of the house is resuming a day after a rifle well wielding attacker open fire on republican lawmakers practicing for a charity baseball game house gop whip steve scalise of louisiana is in critical condition after being shot in a hit the gunman.

leo housekey steve scalise gop cia barbara mcquaid professor michael flynn university of mi shut down special counsel washington bloomberg san diego chief investment officer louisiana the house fbi director bloomberg muller trump washington post president nancy lyons federated investors orlando one percent