19 Burst results for "Paul Donovan"

"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:57 min | 4 months ago

"paul donovan" Discussed on Bloomberg Radio New York

"Baseball tickets They've started out one in three a ticket price is declined Everything else is up up up with a report you have been waiting for Michael McKee Michael do we get it right at 8 30 We got it right now yes as a matter of fact And we're getting exactly almost exactly what economists forecast on a month over month basis in March The CPI went up 1.2% That's what was forecast It was up 8 tenths of a percent The month before And on a year over year basis we're up 8.5% So there's a rounding issue in there that people will look for But the forecast was for 8.4% It's still leads us in the same place This is the highest inflation since January of 1982 Mike just so you get the power here Lisa and we can do that three tenths of a percent That comes in lower So there's some good news there 6.5% on a year over year basis A tick lower than anticipated The Economist survey said I'm sorry for interrupting No that's fine Michael You know there's a lot of market on the move you're a green on the screen and the S&P futures up 29 that is a genuine percentage move you're up 6 tenths of a percent NASDAQ up 1.2% yields come in with a vengeance from the two 80 headline level of 12 18 hours ago in 9 basis points 2.71 percent even a fractional dollar weakness as well Lisa But I just wanted to point out the yield move because to me this is fascinating It came in above expectations 8 and a half percent And yet people seem to be pricing in and even higher upbeat to inflation And that is compelling to me The fact that ten year and two year yields both tanked really gives you a sense of where the zeitgeist has shifted and whether people are out hocking each other at a time of such high inflation Mike I want to set up for Seth Carpenter and I want to go to what we're going to hear from Lao brainard and others today which is about the paycheck You can bring the banners up there If you want Qantas the idea of what average hourly wages are doing I've got near the pandemic high 7.4% lift in the real wage And it's an odd number and it doesn't matter But it's supposed to be three or 4% It's negative 3.6% Americans are getting clobbered on wages by this inflation Yeah it's a little complicated because this only takes into account wages It doesn't take into account other ways of earning money And so it doesn't take into account government transfer payments So it's not as bad as it seems when you put it all together but it does show that nobody's gaining on inflation at this point A couple of things that people are going to be shocked to learn food fuel and housing are the main culprits Thank you for that value That's why they pay me the big bucks Food at home 1.5% higher in the month of March that's of course the grocery store stuff Gasoline up 18.3% Nobody's going to be surprised with that However gasoline prices have come down in recent weeks So look for a little bit less inflation in April And then in terms of housing we see red prices were up by four tenths of a percent And owners equivalent rent also four tenths of a percent That's continuing a streak of four tenths rises for the proxy for home prices Airline fares If you've been on vacation lately Thomas you know that they've been up they are up 10.7% Unbelievable Everybody's flying Big story I saw this morning on the Bloomberg about how the lines wrap around the airport for security these days Well in Paul Donovan of UBS so that important comment on demand destruction will tilt there now Michael McKee will dive into this data with much better in sight here in the 9 o'clock in 10 o'clock hours as well We will summarize with Seth Carpenter's chief global economist At Morgan Stanley Seth I want to go to WTO global markdown on GDP but we must speak of what Ellen zenner will parse of this inflation report Is there any site out there professor Carpenter doctor Carpenter of demand destruction So demand destruction is a tricky phrase right It says that prices have gone up because there was so much demand that demand goes away which presumably then brings prices back down I do think it's clearly a hit to the consumer from the surge in oil prices Tom mentioned just how much gasoline prices were up you were both talking about where real wages are going I think it's unquestionable that when some of the categories energy food that especially the lower end of the income distribution can't just substitute away from that's got to be a hit overall to consumption spending What I think is more important with this report though is the fact that core underperformed and we saw the rally in rates I think if you look at used car prices they were down sharply Even the rent and owners equivalent rent which stayed solid it was actually off just a little bit So instead of a continuing upward trend to those key drivers of inflation we're actually seeing a little bit of a softening So in our numbers at least and it's always hard to make a forecast But in our numbers we've got to the peak of inflation and we're likely to start to see things come off I'll be a gradually from here Seth I got to say the number the absolute number came in above expectations the knee jerk response is almost as though this is a downside surprise What do you make of that I think it really is the difference between core and headline I think everyone knew that oil prices had gone up and that that was going to show through to this month's print I think everyone knew that commodity prices for agriculture had gone up and that that was going to share through to this month's print And so for the durable underlying trend of inflation that's going to be with us not just this year but next year that the fed may have to respond to again not just this year but next year that I think is what the rates market is reacting to Seth how much can you really project out from this one report We've been talking about how it's not just necessarily the peak But how quickly it comes down on the margins how much does your forecast change after today's number Well on the bright side our forecast doesn't have to change all that much The core was a little bit softer but for me what's really important here is the pattern that we are starting to see some of that softer reading in some of the goods we are starting to see for instance used car prices start to come down I think in that sense it's very much the pattern of the trend as opposed to the specific number Does that pattern change anything for the fed stuff At the margin it probably takes off just a little bit of the fire on the burner at this stage but I don't think it changes things dramatically There's no two ways about it Inflation is high inflation is too high for the fed's comfort level All of the members of the fed even the historically dovish ones that said exactly the same thing So in that regard I don't think this actually changes things much In fact one of the points I've been making to clients is one month CPI here and there is not going to be the positive for the fed We're going to matter at least as much is how strong is the real economy How much can they lean in to the strength of the economy to slow things down to get inflation under control that I think is going to be the key Well and that comes down to the tolerance of consumers for higher prices their propensity to continue spending even in the face of them Seth what is your expectation around the demand picture and whether or not destruction is going to start to take form in the face of the higher prices really across the board Yeah so Ellen zedner our chief U.S. economist in her team put out a bit of a forecast revision on Friday and we took down the consumption path for the second quarter largely because we did see this big.

Seth Carpenter Michael McKee Michael Lao brainard Lisa Paul Donovan Michael McKee Mike Morgan Stanley Seth Ellen zenner
"paul donovan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

06:08 min | 1 year ago

"paul donovan" Discussed on WBZ NewsRadio 1030

"Alleged to have run over an officer's legs. Someone else is alleged to have smashed the police cruiser window. Several other officers suffered minor injuries chasing down suspects. The Boston Globe reporting that the injured officer was brought to Rhode Island Hospital. Police say his injuries did not appear to be serious. Under arrest 23 year old Cheyenne Boisvert of North Providence, 33. Year old Eduardo Rivera of Warwick and 22 Year old Kimani Mitchell of Providence. They were arraigned Friday evening aren't common WBZ Boston's news radio Nearly a dozen senators, led by Texas Senator Ted Cruz. Now say they plan to join the effort by some House Republicans to challenge the electoral college results. The group of GOP senators and senators elect were demanding that Congress immediately open a 10 Day emergency audit to review what they claim are allegations of voter fraud and irregularities in the 2020 presidential election. It would involve an electoral commission specifically looking into states, the group says. Vote or disputed President Trump's own Justice Department has said there was no widespread election fraud, and Trump and his allies have lost more than three dozen lawsuits on the matter. The move would delay the process to confirm bite his win. However, it would not change the results of the election. Faith Booby. ABC NEWS Washington Meanwhile, the federal judges tossing out another lawsuit challenging election results brought forth by Republicans. Reporter Matt Matt Johnson has that it was an effort from Texas Congressman Louie Gohmert and some Arizona Republicans to try and have Vice President Mike Pence ignore electoral votes next week, the judge ruled legal action didn't have enough standing to sue. The decision comes just days before Congress meets to certify Joe Biden's win on Wednesday. Pants pushed back against the lawsuit before the ruling. I'm at Madison. Record three million early votes has been can't have been cast in the Georgia run off elections. The turnout figures were compiled by the University of Florida U. S elections project who say the three million plus early votes amount to over 38% of all the registered voters in the state. Tuesday's election pits Republican U. S Senators David Perdue and Kelly Leffler against Democratic challengers Jon Ossoff's and Raphael Warnock. If the Republicans lose, Democrats could take control of the Senate. The Thanksgiving holiday break, is still taking its toll on Cape Cod. As coronavirus numbers continue to climb in the town of Sandwich. WBC's Tim Dunn has more sandwich health director David Mason is losing his patience. I sound a little annoyed at this point, it is because I am because I'm tired of having to reiterate this issue, Mason says. Because of family gatherings during Thanksgiving, paired with a continued lack of compliance with covert safety guidelines. That town continues to put a burden on the health care system is far is social distancing. Facial coverings and keeping out of group settings. The town hasn't been following it, and that's the direction we're going in with 23 cases for 100,000 residents in the two week positivity rate of nearly 5%. The town just makes it out of the highest risk category in the states coded map. Mason says the region can expect an even higher caseload to begin the new year from holiday gatherings in the month of December from the Cape Cod bureau. Tim done WBZ Boston's news radio. The pandemic is continuing to take its toll on the health care system with hospitalizations up 129% over the last month. The state is scrambling to increase surge capacity. Doctors worry the increased volume they're already seeing will only get worse when the post Christmas spike starts to hit yesterday about 60 patients were being treated for Corona virus at the D. C U Field Hospital Center in Worcester. Admissions happening faster than discharges right now that DC you center on Lee has the staff for 100 beds. And they expect 75 of them will be fooled by this weekend. A total of 190 cities and towns here in Massachusetts are now considered at the highest risk for transmitting coded 19. Comcast says it will raise Internet fees for clients who use a lot of data. WBZ TV S Bill Shields explains working from home remote learning they used to be foreign concepts, but not during covered. Nowadays, more more people are home and using the Internet and now one provider Comcast. Has decided to raise the cost of using the Internet. If you're using it a ton, Comcast says A very small percentage of our customers go over 1.2 terabytes because 1.2 terabytes. There's a massive amount of data that enables consumers to video conference for 3500 hours. But Comcast says this is only going to affect a very small percentage of his customers less than 5%. And they're putting off the fee increases for several months. There's a three month grace period after that customers going over the cap will be charged $10 for every extra 50 gigabyte block of data used up to $100. The New Hampshire attorney general's office investigation of Salem Police Department officials following the release of an audit finds no wrongdoing by the now retired police chief. The Eagle Tribune reports that Paul Donovan was investigated analogy ations of official oppression and or sworn falsification. The state could not prove beyond a reasonable doubt that Donovan committed the offenses done events. Attorney says he's heartened by the investigation's conclusion. One officer has been charged with reckless conduct involving a deadly weapon and another faces a tax fraud allegations. Staying informed is easy with WBZ..

Comcast officer David Mason fraud Congress Tim Dunn North Providence Boston Globe Texas Paul Donovan Rhode Island Hospital Trump Cape Cod Boston ABC
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:15 min | 2 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"Alongside some cane, at least grab some Jonathan Farrow 60 minutes away from the opening about just around a corner equity futures ticking higher going into that cash open futures in their session highs on the S and P off 7/10 of 1%, now another lift to this market. 23 points on the morning in front exchange talked about this through much of this morning here. O'Donnell 1 18 slightly weak. You're a stronger dollar against the euro against the Chinese currency overnight as well as economic data coming up, you will get CPR in America tomorrow pp on Wednesday claims on Thursday retail cells The back end of a week of huge focus on the loss of momentum, not just in the U. S economy, but across Europe much more so take a listen to what Mohammad Al Arian valiant. Throughout the advanced countries. The pace of economic recovery is slowing, and I can't think of any exception to that general statement. Tom. I would have to say that is much more prominent in Europe right now, and I'd pick on the UK in particular. Before these new restrictions come into force, a recovery that's really started to still, Yeah, stall with dis inflationary tendencies and, of course, across the Atlantic, a little bit of inflationary tendencies. And maybe some of that devolves into the equity market again. Bonds. We don't see full faith and credit. That paper in the United States. Today it is Columbus Day right now, Paul Donovan to get to it very quickly here with jobs and their global chief economist in the zeitgeist this weekend, Paul There's no question about it. Can you believe China's recovery? Can you Yes, I think China has had a genuine recovery. China's recovery was very different from what we saw in Europe and in the states because in Europe and in the states, people are quiet savings during locked down. And then as soon as they're released from locked down, you know you just spent three bumps sat at home watching Hope makeover shows on Netflix. What are you gonna do? You're gonna go rush out, spend the money. That's exactly what happened on once you've spent the savings that obviously the momentum slows, slowing fourth quarter momentum. It's hardly a surprise. Every economist was expecting this to happen. China didn't have that model. Because China's locked down, people weren't able to accumulate savings they were having to live off their savings because there's a far less efficient social Security Net so what's happened in China is that there was a pause. Before the domestic consumption started to kick in on that coincided with the recovery and demand that we've been seeing in Europe and in the states. Can you bring that recovery and demand over to GDP in the U. S and in Europe and by that I mean equity markets today down 5 28,081. That's PX. Almost up to 3500 almost out near record highs were a bit away from that I don't want to over so that But Paul, can you look at the expectation of the equity markets and hard for all, Do you get that real GDP that goes with that? Well, we gotta remember, of course, that there is a really important distinction, but that the equity markets or just a sub Set of GDP listed companies are actually nearly as important as people think that they are. So what we're looking at here is a TDP environment where a lot of the negatives on GDP are actually in sectors a million miles away from listed equities. So it's it's the small restaurants that are suffering. It's the full service sector businesses that are suffering. These are not listed companies. He's a moment pops stores. They're not. They're not in a position. Toby quoted on equity markets, the listed architects to be more biased towards the manufacturing sector. Manufacturing's doing better than services. It's got better access to capital. It's got better control of its costs. The listed sector is going toe outperformed GDP in this environment, and that, of course, is exactly what we're saying. Fall in love feeds, compare and contrast. What's happening in United States in Europe, not just the US and Europe versus China trade. It's become really popular in the bond market over the last several weeks. I'm sure you're familiar short Treasuries get long Europe just the idea that this US recovery Continues. And it stalls in Europe. What you're seeing right now? Just the trajectory of the respective recoveries. Does it speak to that? Well, not really, I would say so. What we're seeing now is a shift. So, as I said, we've had this surge of consumer spending fueled by the savings accumulated in lock down that's pretty much universal in the developed world. Unnatural third quarter story record third quarters. As we go forth quarter into next year fiscal policy is going to start playing a larger role. On their we're goingto have. I think some issues are depending on the election result. We might get a large fiscal stimulus in the states in January. But of course, if the negotiations in Washington of the Highlands rival breaks it for the delays and the chaos and the internal tedium of what's going on, so Failure to Dick fiscal stimulus now is actually doing real damage to the U. S economy first, because if you're unfortunate enough to be unemployed, you are clearly on a follower income than you were. And second and economically. This is very important if you are afraid that you might become unemployed. That fear off a lots of incoming unemployment is likely to delay spending and so what we getting here is is two hits to the consumer through fiscal policy. Now that's not in evidence in Europe. In Europe. We are seeing the number of people on furlough fall, but that's because they're being rehired, not because they're being made unemployed, and so I think that the fiscal policies on the two sides are creating Slightly different stories. At the moment, the US will grow faster than Europe simply because of demographics. Surprise about that. We know that but I think actually, Europe's fiscal policy at the moment is Is clearly supportive for us. We've got this crowd of uncertainty over the fiscal support. So this is slightly contrary important. I stress this is relative to expectations and anecdotally just the conversations we would have in a program like this, but you seem less constructive on the U. S recovery. Most Well, I'm still constructive recovery carries on in the fourth quarter. I think, though, that we are seeing some damage to the recovery come through from the indecisiveness over fiscal policy in the United States. I mean, there are plenty of people who are relatively secure in their jobs. They'll continue to spend they'll spend down there saving, that's all great. If you look at the employment participation in the states, it's very interesting. The High school people, people who've got college degrees. They got pretty much normal employment participation, low skilled people. People who failed to graduate high school have also got all those noble employment participation. The area where employment have bean weakest people graduated high school but did not go to college on. That, of course, is an area where you're likely to see quite a lot of service sector jobs. These are the jobs which you are risking the fourth industrial revolution, but that's the areas of weakness. And I would argue the fiscal policy today is not doing much to help that particular cohort in a way that perhaps it is helping in Europe on both sides of the Atlantic. However, in the US and the UK and the rest of Europe you're seeing Is bifurcation that you talked of earlier. You touched on of big companies doing better or having a better chance of surviving, while smaller businesses go out of business at the fastest pace in some cases on record, and there was a statistic in the Wall Street Journal over the weekend, showing that smaller businesses account for an incredibly shrinking portion of overall employment in the U. S and around the world. How much does that hamper global growth going forward? Now this, I think is a really interesting because you're quite right. Of course, we're seeing lots and lots of four businesses closed, but we're also think a normal pace of small business creation..

Europe United States China Atlantic Paul Donovan Jonathan Farrow UK Tom Netflix Mohammad Al Arian Wall Street Journal chief economist Manufacturing High school Toby Washington Treasuries
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:52 min | 2 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"One hour away from the upper value price action shaping up as follows this Tuesday morning equities advancing against that they fed meeting, concluding tomorrow with a news conference with Chairman Powell in the bond market. 0.68% is your yield on the 10 year up a single basis point, just about up a couple On a 30 year on the FX market. Talked about it through this morning bureau strength told weakness I get my words out your daughter just south of 1 19 up 2/10 of 1% on that currency pair and just show a 34 100 some Cain on the S and P 500 futures up 26. We advanced three quarters of 1% a little bit of a pop Their yields higher there. The Empire Manufacturing comes in John, and it is a much better statistic. I'm gonna call it a secondary statistic this out of Buffalo, New York, The New York State Empire Manufacturing Statistic with John. Nevertheless, 6.9 was a survey comes in. It's 17 that is not a band statistic. Previous rape 3.7 upside surprise, and Tom Kane. How many upside surprises we've seen in this economy in the last several months. Get in. They're improving Getting a read on this economy, though still super complex and very difficult. Well, let's try to do that right now. Paul Donovan joins us with boobs. They're global chief economist in just a wonderful perspective. On the Pacific Rim. The upside surprise. Paul Donovan has been China. I want to go back to the subs heritage of Jonathan Anderson from years ago in the U. B s expertise. I don't want to know about Hong Kong, Shanghai or Beijing. Paul Donovan. What does you BSC and the rest of China? We never speak of So the Chinese economy we saw this morning with the industrial production days of production is kicking back in China is is a very interesting comparison to what we're seeing in three U. S. And in Europe was in the U. S secure of what's happened is consumers saved money during locked down. Elena's lockdowns event did they started to spend it because that's what consumers do. But in China, the consumer was less able to save money. So the domestic economy was sort of a little bit on the back. Foot came out of lock down unless you middle class you didn't really have savings to spend. But what's now happening, of course, is that we're seeing global consumer Dimon picking up and that's working its way up the supply chains and we're seeing these better production numbers coming out of China. Beating expectations. I don't have a lot of faith of the expectations particularly accurate. You're the range of four very wide, but certainly a decent number coming out, reflecting that improvement in global activity. Okay, you could extrapolated to Australia and John Farrow's mortgage the house Long Australia here into the end of the year. Can you extrapolated to the rest of the world? Can you extrapolate Chinese better? Over to America and over to the continent of Europe. I think it has to be taken ah, looking of both sides. So China is a Lincoln global supply chains. It's now the world's largest manufacturer, a key part of global supply chains. So if we think about a production in China if we're seeing improvements in the export numbers that is telling us something about global levels of demand. And we're seeing. It also comes through in terms of proper indications about confidence in the economy. You're not these useless surveys, but detailed your behaviour of consumers of individuals in Europe in the U. S. Is pointing towards a better economic outlook on this is always the case. Markets are always always too pessimistic about recovery from a crisis. This was so different to previous crises. The markets have failed to understand the speed of the bounce back the resilience of consumers and businesses in the face off a challenge. Paul. Is there anything unique about the A willingness of money people to still underappreciate. This rebound in this economy. So I think we've got some complications here, So we've got problems with the data itself. I mean, the data quality has been deteriorating for several years. But it's really, really bad during this crisis on DH. We're now seeing the inconsistencies in the data, so the fact that different countries use different methods to calculate GDP. You're only economists get excited about this most of the time, But now it's leading to these absolutely normally is in the data when you do international comparisons, so that's throwing up a lot of problems, but also What's what's happening throughout all of this is the pandemic has accelerated the structural changes of the fourth industrial revolution on and also the environmental credit crunch. Both of those big big structural issues have bean sped up throughout this on. That means, of course, that we may be failing to capture some of What's going on in the economy, So to get just one example we have seen an absolute search in business creation in America in the UK in Fronstin. Japan in single huge, huge increase in business creation since lockdowns ended. That's not likely to be properly reflected in the data. You're some of the entrepreneurship is just gonna be missed, because the satyr stations aren't gonna be looking for it. So do you think that right now going forward? We're going to see ongoing improvement in the data. Or do you think that with the pullback in fiscal support will see a plateau it? I mean, do you think that right now, people are still getting it wrong in expecting a cool down in the recovery. So there will be a cold. I mean, let's be realistic. What's what's really fueling. This is the fact that most people accumulated about a month's worth of income in savings. Also a stuck in lock down, unable to do anything, and, of course, the Sooners locked down ends. You've just spent whatever it is two months stuck at home with your close family as companions. You're desperate to get out and get away from them, and they go out and spend money and that's what's happening..

China Paul Donovan Europe John Farrow New York Chairman Powell America Empire Manufacturing Cain chief economist Pacific Rim rape Sooners Jonathan Anderson Hong Kong Elena Dimon Tom Kane
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:05 min | 2 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"Tom. What You said there moments ago is exceptionally important. Folks. This goes back to the giant Irving Fisher in the 19 thirties. I take your point that you're looking at discounted cash flow. But the miracle of Microsoft, Apple, Amazon and the others has to also be the terminal value out X number of years. This is really important folks. What's the time duration Tom Forte of that terminal value calculation. I don't think it's a textbook amount. Perhaps there's so dominant that the terminal value is out what 10 or 15 years? Great question. Time is always were modeling 10 years out. And part of the reason we think stocks in general have done so well is we're in the middle of a very, very low interest rate environment discount rate. I don't want to historic lows, but it's a very low number. So 10 years from now, the question is, can Amazon still grow as a company at a 15% Right now, The answer looks to be young. Keep it, Tom, This is critical. And I don't mean to interrupt, but this is so incredible Critical for the Bloomberg surveillance audience. First of all, you're out 10 years and not seven years. Fine. How does this sovereign wealth fun? How does big money How does Warren Buffett deal with that? Should Warren Buffett the acquiring Amazon right now, with his terminal value of 10 Or 15 or 20 years. Yes, The answer is even Warren Buffett should be buying shares. Amazon if he has a 10 year outlook as we're employing right now, because I think again if you think about what we're going through what we're experiencing right now. And how this is just accelerating the transition to digital. You think about e commerce historically as a high single digit mo double digit percentage of total retail sales. Well, what if that moves to 20%? Not overnight, but in short order? Oh, I do think that over a 10 year period. The law of large numbers definitely sets in for Amazon for Microsoft and others, meaning that as you're growing on a bigger scale space Your growth moderates over time, But I do think that this transition to digital cosmic cove in 19 Israel and sustainable and significant Some form of D a Davidson of some of the foolish things behind a huge rally. Some of these mega cap tech names in the United States of America, Tom Keen has led to a little bit more capitulation on the South Side. The latest cities Tobias left Covic lifting his price target. I believe to 2900 from 2700 and it all centers around. Ah, hire multiple Because of this massive policy effort we've seen worldwide. I'll go with that job, but there's more going on than that. This is really important for what you take Charles. Candor. Neuberger Berman, a bull growth bull, You take what you just heard from Mr Ford, A John and these air revolutionary conversations. They may be wrong. Doug CASS is out of 5000 on Amazon. They're doing different mathematics. Because of the growth Penis of those companies. John It's really historically unique. It's not nifty 50 come I totally totally agree. And Lisa. We've discussed it many times in a world of low growth, low rates. You gonna pay up for that growth and these were the big winners on the theme of this downturn is the strong get stronger, The week gets weaker. Within tech. My question is which are the strongest and will we see the weaker among the tech names start to get penalized to Tom's point for Tom Forte. He was talking about Google and Facebook and how they're models are a little more challenge Facebook shares of 17% year to date. Does this get justified by the underlying fundamentals? Tom and John Question for later. Equity futures down 23 on the SNP were negative. 7/10 of 1% up next on the global economy, a conversation you don't wanna miss, we'll touch base with Paul Donovan off you B s that conversation.

Amazon Warren Buffett Tom Forte Tom Microsoft Irving Fisher Tom Keen Facebook John It Bloomberg John Question Neuberger Berman Apple United States Doug CASS Paul Donovan Google
"paul donovan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:44 min | 3 years ago

"paul donovan" Discussed on WBZ NewsRadio 1030

"Generously W. easy bus W. X. K. S. F. MHD to Medford and I heart radio station it matters where you get your news WBZ newsradio seventy degrees in Boston at eleven o'clock good evening I'm done Huff here's what's happening wind and rain in the overnight forecast gusty winds of that Z. TV meteorologist Derek Fisher our strongest winds will come in the middle of the night I'll be right along that squall line that makes its way on in after midnight with fast I would expect some gusts over fifty and a few of these guys to be over sixty miles per hour during the middle of night tonight is this another significant wind of and force which will bring down trees and caused power outages and apparently the power is being impacted the mass emergency management agency reports more than seven thousand customers in the states are without electricity at this hour meantime the steamship authority advises service especially to Nantucket may be impacted tomorrow morning a deadly daylight shooting in Boston two men shot on American Legion highway and Roslindale one has died the other expected to survive police superintendent Paul Donovan Boston police department is asking for the public's help with this investigation we're asking anyone for information the wishes to call anonymously can call one eight hundred four nine four tips for to Boston police homicide unit at six one seven three four three four four seven no names have been released in Fitchburg a pedestrian killed in a hit and run police looking for that vehicle at this hour Capitol Hill the house passing a resolution advancing the impeachment inquiry to its next phase.

"paul donovan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:51 min | 3 years ago

"paul donovan" Discussed on WBZ NewsRadio 1030

"Morning charged with murder the death of the former building inspector in grove linda week ago we get the latest now on our top story from w._b._z.'s karyn regal good afternoon over at hebrew district court and we'd a waiting for the dill graham to appear in court to the arraigned on charges of murder about now or go i was over a grove lynn police headquarters where we heard from the police chief there and from essex county d._a. jonathon blodget this is grove the first murder since nineteen ninety two accused of killing the victim d._a. budget by a method that you described as being blunt force trauma and sharp trauma launch it would not go into any more details other than that he to say as well that the two were appointed business arrangement not something that was arranged through the town but rather do private enterprise but would not go into any further details other than that i've been trying to research they'll ram here i found a handful of arrest through the years but i can't find anything specific relating to this at least not yet once again we're awaiting his arraignment now at district court reporting from evil karyn regal w._b._z. boston's newsradio eleven thirty one on w._b._z. early morning stabbing near boston city hall plaza it leaves a man hospitalized with life threatening stab wounds we get more from w._b._z.'s chris pharma police at the crime scene used video surveillance to determine this much the victim was involved in a dispute with the suspect just yards from city hall at which point the unknown man brandished a weapon and stabbed the victim multiple times in a high volume pedestrian area even that early in the morning which lead boston police to issue this plea superintendent paul donovan we're asking for the public's assistance.

murder grove w._b._z. jonathon blodget boston boston city hall plaza paul donovan grove lynn essex county superintendent
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:20 min | 3 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"We give it to you every fifteen minutes here on Bloomberg radio. Let's get over now to at least Martin Newt from Bloomberg opinion to talk about one of the most read stories this morning. Chinese brokerages have stepped into the Fuhrer surrounding controversial comments made by UBS chief economist, Paul Donovan or actually, the comments, I would say are not controversial. It's the understanding of those comments, the reception of them. In china. Donovan talked about Chinese pigs in terms of the inflation in pork prices in China and somehow everyone in China has taken it the wrong way at least Martinuzzi. Why what am I misunderstanding here because when you when you read the content the comments it doesn't seem like, there's even any way to take them out of context? Yes. I think I think certainly that's. They weren't intended to offend that, that I think is pretty safe to say, but that's how they've been interpreted. And I guess it comes on the back of other companies that have found themselves in the center of seminar storms for language representations that were seen to be taken as, as wastes in the past one example, being Dolgin Coban with one of its ads. But there was all is what it is. And we have some of their competitors now. Claiming they're going to be putting business from UBS. So it certainly has become something that the Bank continental, but more my question, I guess is. The Chinese really taken these comments to be offensive and racist, because he was. So clearly talking about the commodity. Hog prices. Or are they or is this a result of the tensions between China and the western world via Donald Trump? Are they are they pretending to be offended by these comments? Because there's this seems to be no way you could interpret them as as derogatory. I think you've hit the point that I mean that's certainly that the background is that tension. And I think you can read into UBS as reaction which was very swift and on equivocal that they're certainly very. Concerned about how this backdrop is fighting their business and could affect their business in China, which, of course, is a significant business. They're the biggest wealth manager in the Asia Pacific. They've recently been awarded the first majority stake in the security joint venture for phone company, which means that they'll be growing those securities businesses. Well, and and growth is really going to be coming from Asia, and from China for them in the future. So you can you can see what's this -nificant of the magnitude of what's at stake here. So what has UBS done in response to me, is it even fathomable that the Bank would fire Paul? Donovan. I don't think there's any, any sense that that's on the calls at the moment. I think they have gone out of their way to approach is to attract the comment Donovan was on, on our radio and on TV yesterday as well, reiterating a poetry and his quite unequivocally as I said earlier, so I think, as far as the Bank has done hitherto, they could really not have done much mall. So we'll have to say. All right, Elise. Thanks so much for joining us morning early pre she ate it. And it's a it's a great column. I recommend our listeners, go ahead and check it out, and all of the opinion pieces. Really my favorite section on the Bloomberg terminal Opie. I n go also I often find myself looking at the opinion page on the website, Bloomberg dot com. Let's get over to leeann guarantee now with your local news headlines. Leeann good morning mass, and we start with the latest on the twin attacks against two oil Tonga's near the Persian Gulf yesterday. The US released video. Then the Trump administration says captured involvement bind his logic revolution regard patrol boat in yesterday's attacks. It was the first evidence publicly put full by the US to support its claim that Iran was behind the attacks, which was announced earlier by secretary of state, Michael Pompeo, this assessment is based on intelligence. The weapons used the level of expertise needed execute the operation recent similar rating attacks on shipping and the fact that no proxy group. Operating in the area has the resources and proficiency to act with such a high degree of sophistication Iranian officials have rejected the accusation calls growing full Hong Kong's lead to delay. A controversial extradition Bill and ISO question carry LAM's, Texas, tensions, the prompt lawmakers to postpone debate until at least next week, Oganization. This week's mass protests, calling renewed demonstrations on Sunday, turning to the race for the next UK prime minister poise Johnson has comfortably won the first round of votes. He was backed by one hundred and fourteen Tori. MP seventy-one, head of his newest rival, but for my Brexit secretary Dominic ramp who is also in the contests says there's still a long way to go. At the.

china Paul Donovan UBS Bloomberg Dolgin Coban Martin Newt Donald Trump Asia chief economist US Hong Kong Bank continental Persian Gulf leeann Elise Asia Pacific secretary Johnson Texas UK
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:46 min | 3 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"At the beginning of his rights reading tested divisions. The idea as the policies of the campus is racist, just getting started number as well. Esther McVey, Mark Harper Andrea. Let somewhere eliminated, leaving seven candidates in the running, and according to people familiar with the story. Johnson's opponents are holding private talks of joining forces in an attempt to stop the pro Brexit favorite from running away with the contest. So that's very latest, of course, on the Brexit leadership, or the Tory leadership and Brexit news now. The EU has one that the UK could put future ties at risk if it fails to pay the agreed financial settlement. The thirty nine billion pounds is part of the overall Brexit deal. It was agreed. By outgoing Prime Minister Theresa may and all the other leaders the EU but hasn't been approved by parliament. Now Boris Johnson actually says he would with hold the money unless the EU agrees to a better divorce settlement. Full-sized and Trenton units been office shaping up to be one of the year's largest European IPO's. That's after the company actually said a price at values. The heavy truck business at up to sixteen and a half billion years. Now, shares will be priced between twenty seven years and thirty three years of peace with the base offer of fifty million units and Chinese brokerages have stepped into the furor surrounding controversial comments made by UBS chief economist, Paul Donovan, one industry group has urged the Bank to fire all people involved in the incident and rival high security says it has suspended activities with UPS Donovan apologized for using the phrase Chinese pig. When talking about swine fevers impact on the economy now for the latest in global news. Bloomberg's Garrard's highly in good morning. I'm seen in Hong Kong, the street, so mostly come after violent protests.

EU Boris Johnson Paul Donovan Esther McVey Hong Kong Mark Harper Andrea Prime Minister Bloomberg Garrard UK UBS Theresa chief economist thirty nine billion pounds thirty three years twenty seven years billion years
"paul donovan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

02:09 min | 3 years ago

"paul donovan" Discussed on WBZ NewsRadio 1030

"Before police got the call for a person shot here on Milton avenue. You heard gunshots seeks long show police superintendent Paul Donovan says officers responded to a triple decker at sixty six Milton avenue. Located in inside seeing adult male suffering from. Respondent declared the male non-viable on Donovan would not say what type of injuries the man sustained or whether they're searching for a suspect. He says it's all part of the investigation. Anyone with information is being asked to call police in Dorchester, Kim Tunnicliffe WBZ? Boston's News Radio Boston. Mayor Marty Walsh says the city has worked to do. But the numbers on crime are headed in the right direction down part. One crime down nine percent. Violent crime down eleven percent property crime down nine percent. Total shooting victims on not not homicide shooting victims forty-three with down from three from this time last year homicides with a gun with down four nonfatal shootings were up one the mayor on WBZ's nightside with Dan Rae says the judicial system is in transition with a new Suffolk County district attorney on the job. Rachel Rollins had directed assistant DA DA's to not prosecute fifteen low level crimes and. Loading non violent drug offenses and shoplifting. For now junior. ROTC students will be able to train on air rifles behind Nashua north high school. The proposal was passed by the school board after a presentation complete with the weapon was made by Major Bryan Newton. But some Nashua parents aren't happy expressing outrage on social media. They say school should be gun free zones. A local rod and gun club says if the board reconsiders it will offer its range to the students ninety four are enrolled in the junior Roxy program. Members of the boys and Girls Club of Lynn hoped to have a camp repaired and time for summer after it was hit by vandals and his WBZ's James Rojo's tells us they need help usually here at camp crane in Middleton. You hear children laughing and splashing in the water right now,.

Kim Tunnicliffe WBZ Paul Donovan Mayor Marty Walsh Bryan Newton Nashua north high school property crime Boston superintendent Nashua ROTC Rachel Rollins Suffolk County Dorchester Girls Club of Lynn shoplifting Middleton Dan Rae James Rojo
"paul donovan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

02:16 min | 3 years ago

"paul donovan" Discussed on WBZ NewsRadio 1030

"Right before police got the call for a person shot here on Milton avenue. You heard gunshots show police superintendent Paul Donovan says officers responded to a triple decker at sixty six Milton avenue. Located in inside seeing adult male suffering from. Respondent declared the male non-viable on Donovan would not say what type of injuries the man sustained or whether they're searching for a suspect. He says it's all part of the investigation. Anyone with information is being asked to call police in Dorchester, Kim Tunnicliffe WBZ? Boston's News Radio Boston. Mayor Marty Walsh says the city has a little bit of work to do. But the numbers on crime are headed in the right direction. That would be down at one crime down nine percent. Violent crime down eleven percent property crime down nine percent. Total shooting victims on not not homicide shooting victims forty-three with down from three from this time last year homicides with a gun with down four nonfatal shootings were up one the mayor on WBZ nightside with Dan Rae. Last night says the judicial system is in transition with a new Suffolk County district attorney on the job. Rachel Rollins had directed assisted DA's to not prosecute fifteen. Low level crimes including non violent drug offenses and shoplifting. Well, for now junior ROTC students will be able to train with air rifles behind Nashua north high school in New Hampshire. The proposal passed by the school board after a presentation complete with the weapon was made by Major Bryan Newton. But some Nashua parents are not happy about this decision expressing outrage on social media. They say school should be gun free zones. A local rod and gun club says if the board reconsiders it is offering its range to the students nearly a hundred students are enrolled in the junior ROTC program at Nashua. Members of the boys and Girls Club of Lynn hoped to have a camp repaired in time for summer vacation. It was hit by vandals recently. But WBZ's James Ross tells us they're going to need help getting their usually here at camp crane in Middleton. You hear children laughing and splashing in.

Paul Donovan Nashua Kim Tunnicliffe WBZ Nashua north high school Mayor Marty Walsh Boston property crime ROTC superintendent Rachel Rollins James Ross Girls Club of Lynn Suffolk County Dan Rae Dorchester Middleton Bryan Newton shoplifting New Hampshire
"paul donovan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

03:39 min | 3 years ago

"paul donovan" Discussed on WBZ NewsRadio 1030

"Blue skies. Fifty six degrees involved at two o'clock. Good afternoon. This is WBZ news. And here's what's happening. We're standing by the newsroom force significant vote in Washington right now, the House Judiciary committee is about to vote on whether to subpoena attorney general William Barda testify to force him to appear even as the president pulls out the power of executive privilege to try to stop him. Here's CBS's Steven Dorsey with more public in say, the committee subpoena would force bar to break the law. But chairman Jerry Nadler says the subpoena doesn't include protected information in the Muller report. Like grand jury information. Instead, he says he wants to work with the Justice department to petition the court for its release Jerry Nadler, the chairman of the committee said ahead of this committee vote that he wants to hold the AG William bar in contempt of congress for not turning over a fuller version of the Muller report. Again, we're standing by. We'll let you know as soon as that develops are a crime tape in an active crime scene swirling around a triple decker in Dorchester on this bright afternoon, a grim crime. But what happened WBZ's Kim Tunnicliffe on scene live now with more on what's being called a death investigation. A lot of mystery surrounding this crime Kim, that's right, Laurie. One neighbor. I spoke with reported hearing sticks gunshots around ten this morning while he was working on his car outside here on Milton avenue. Police responded to the scene of town demand dead inside a triple decker at sixty six Milton out. He was suffering from injuries, but police superintendent Paul Donovan would not characterize the nature of those injuries. He would not say whether the man was suffering from done shots. And he also would not say whether thirties are searching for a suspect. All he said is this is part of the investigation. And that this point it's considered a deafened. Vested in Dorchester. Kim Tunnicliffe WBZ Boston's NewsRadio or Tim. Thank you a baby stroller. Hit by a car in Worcester. Earlier WBZ TV's Beth Germano on senior Chandler street. This is right near the stadium in Worcester. Well, police remain on the scene. We are now starting to get more. Details of what happened here within the hour. If you take a look behind me there were two cars involved that red car, according to police was stopped at this Chandler street. Intersection outside Commerzbank field police say the silver car that you see came up hit the red car and then veered into the intersection where a grandmother was waiting to cross with a three year old in the stroller. They were struck by that silver car. They were taken to the hospital, and we are told they are in stable condition with non-life threatening injuries. You've also learned that to DPW workers witnessed the crash will have more throughout the day on busy radio and the iheartradio app. An eighteen year old shot to death that a stem school in Colorado would've finished his. High school career this Friday, eight other students young students were wounded in the attack. We have new information about the suspected shooter's now in jail here in Douglas county, and at least initially cooperating with police is an eighteen year old man and a teenage girl both accused of opening fire on their campus. Here Douglas county sheriff Tony spurlock says how the two are connected. They don't know that the only thing that we know of a relationship between those two is that they were friends from the school. So other than that. We don't have any other information about how those two got together. He says it to war hoodies and used handguns to attack their school. Alex stone ABC news highlands ranch. Colorado, traffic.

Jerry Nadler Kim Tunnicliffe House Judiciary committee Dorchester chairman Muller Beth Germano WBZ William Barda Douglas county Colorado Milton Worcester Tony spurlock Paul Donovan CBS Commerzbank field Steven Dorsey Washington congress
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:43 min | 3 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"Eighteen ninety nine Paul Donovan, always holistic, always brilliant from UBS, John just gonna bring you the numbers. First quarter EPS fifty five cents the estimates seventy-two cents big miss production missing estimates as well. And just to bring you the pre market price action for Exxon ex m look at the market the stock is lower by about two percents. I'm looking at upstream liquids production. That's the actual development of the product of by five percent driven by the Permian everything. John right now Permian per VM. He used to be romantic stuff battle. Now, it's it all looks pretty boring from the surface level now lead with Permian comments on this statement, as well exa let's bring him on a shower UBS global wealth management chief economist as we count down to the pay report in the United States twenty eight minutes away and morning, Chipotle. What are you looking for devoting? Well, I think it's going to be a reasonable number. It'll probably be above trend growth. Let's say the world economy is operating at trend growth in the first call US is doing better than other parts of the world. So you probably get a number around about two and a call to give or take something along those lines polo want to talk about inventories and do a little bit of GDP clinic care for the people that don't follow this closely as you might inventories. What me through what inventories are? And why the fluctuation industry in inventories as the year progresses is so important GDP figure? Also inventories is basically the stuff you've got in your warehouse, or it's the stuff you've tucked away in the Bank room of your salt itself in case people to buy it in the future. Now, the thing about inventories is that the ups and downs of how much inventory, you've got Kohl's recessions, but they make recessions worse. I'm typically since the war about seventy percent of the dropping GDP intercession is caused by inventory loss. And somebody present the recovery is caused by people filling their warehouses and filling their Bank rooms again now. Well, that means is that a lot of the volatility there traditionally has been called by imagery. Well, it's really interesting is in the last eight years, and it's just in the last eight years technology has taken a big leap forward. And we're all now a lot more. Efficient in how we manage inventory. Well, that means only think is the economic cycle is likely to be less volatile in the future interest voided. We. Politicians coming up with policies dumb question, by this brilliant discussion. How do you inventory services? Well, inventory of services comes in because this company's still hold starts. I mean, you know, however, brilliant and economist is they still need a computer, they still sometimes need a desk, or at least somewhere. So they're all physical things involved in the third sector industry about the retail side. Do you think about restaurants sector stuff with you? It can be so click. I don't want you to come in Deutsche Bank. That would be totally inappropriate. But what is the urgency to quote, unquote, clear the EU commercial banking system. Well, I think economists have said for long time, the problem one of the problems with the euro as monetary union is that we don't have a functioning banking union, and well that means is in in the United States. Now, you can transfer money very easily across the boundaries. You can write a check on a Bank branch in New York and expect to be able to pay it in San Francisco, for example. Well, you call them do that in Europe. If I check on mine French Bank. I can't go along to a German shopkeeper and say here you go. Please take this in exchange for good services. They wouldn't do it. So you don't have a proper banking union. I think the consolidation of the European banking system from lots and lots of small banks at a country level into one more integrated system is a big part of it the British that this in the eighteen twenties. The Americans did this in the nineteen twenties. It's down to Europe thought doing this in the twenty twenties. Great history as well pulled on look at central Bank action. I'm going to suggest John Farrell. Correct me if I'm wrong that at some point some fed officials gonna stand up, and it's going to be a single sensitive speech about moving away from stability, Paul Donovan are we awaiting jump condition when we get said single sentence spoken somewhere. Well, I think one of the interesting things. Sam with the fed recently when you you sit there and look in detail the fedspeak is coming. So she's always a really fun way of spending a weekend. What you find is that there's now a broad spectrum that I've seen for two three years or more that we've got the doll that we've always had people like cash Caray who whatever the question is the answer is covered. But we've also now started to see people say, well, maybe we should be raising rates this year, and if not this year, maybe next year, so you'll start and see this broadening the views coming from the fed potentially adds a little bit more volatility to market interpretations of the fed over time. And also, of course, we're struggling a little bit because the fed is not an economist. But a lawyer we don't necessarily have the same economic intellectual leadership from Powell that we did from Yellen banenky? And. Greenspan volker. I'm so perhaps there's a little bit more confusion about where you look to for the economic intellectual leadership at the fed. That was the most diplomatic put down of champion pound on the FOMC heard for quite a Donovan, do you think? Eight. Sandwich. Impound this done a good job. No, I wouldn't say that necessarily. And I thought I think Pennells about central banker. I mean, he's he's a regulator. I mean, that's that's more of his background. He isn't an economist. I think therefore the, you know, the fed is on a pretty reasonable job over all of. Continuing to tighten policy because of course, the quantitative policy side is still type thing at the moment and will continue to for the foreseeable future and moving monetary policy in an appropriate way. I mean, look here we are in a relatively long economic expansion trend growth, the best labor market in years. You've go to give the fed credit for that. And I think the the FOMC as a collective entity on the championship of Powell has done a good job. All I'm saying is if I'm looking for guidance on where the economy is going chairman, Hal, perhaps wouldn't be my first port of call in the way that Yellen wall turbine pulled on finish. CBS global wealth management. Chief economist interesting discussion on inventories as wild salmon. And about twenty minutes time, we'll be interested to see how great contribution from inventories is to better cheapie number was expected several months ago out that the next fed meeting in all this news flowing next week may one next way I caught up with this special program from you next week. I believe so I really it's been so crazy around here. I haven't talked to scarlet food. But I assume we're news conference every meeting that we do. Wonder if champion Patrick wrecks having a news druggy? Does it effortlessly why can't any other central banker? He struggles because he's got big my Applebaum there. Michael Mckee there Craig Torres. Sank that the press corps, and Franklin honest good, no thing. Selected people ask really really really squirmy questions including the Bloomberg reporters in Frankfurt. I think are very Franky tough on dragging as well. I look forward to Michael Mckee in may one. And the news for New York City Hase Manco,.

fed Paul Donovan United States John Farrell chief economist Europe UBS FOMC New York Exxon Michael Mckee Powell Deutsche Bank French Bank Bloomberg EU Kohl Frankfurt
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:34 min | 3 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"It's also been in an increasingly competitive space in the European airline market. So I think these results are really being viewed very positively this morning with investors in London. But the real, you know, the bigger news. I think also this order passed in order to Boeing a really really hard fought battle between Boeing and Airbus to get shorter. And Boeing came out a winner, I g is ordering up to forty two seven seven seven for for listen value of as much as nineteen billion dollars. Yeah. Got eighteen firm orders here for these triple sevens. And then additional options on other aircraft. Tara. Did we hear anything regarding Brexit? Of course, this is a major hurdle that too has to face up against there's been some question marks regarding the ownership as EU rules, essentially state, if you were as an airline wants to fly within the European Union you need to have more than fifty one percent ownership from from EU citizens. Yes, that's right. And you know, it's a little bit early to say what the absolute latest has. It's such fast changing situation. I expected a little bit later to to give us an update on the on the exit situation. And how it sees the the shareholding playing out Tara just to go back to the issue of I g ordering as many as forty two Boeing triple seven. Is this a real blow to Airbus just put that in context for us? It is a blow. I mean eight that the industry is such that every order every order that one of them loses is is a is a blow, but it is 'specially is probably painful for Airbus because Airbus's in the throes of turmoil. It's changing it CEO, it's intestine ounce. A few weeks ago that it was pulling officially the a three eighty the biggest super-jumbo program. So that is also also come into play portfolio. Thank you so much for joining us. Bloomberg's deputy editor for European transport. Tara Patel now coming up on Bloomberg daybreak Europe will be speaking next to Paul Donovan global chief economist at UBS.

Airbus Boeing European Union Tara Patel Bloomberg London UBS deputy editor chief economist Europe Paul Donovan CEO nineteen billion dollars fifty one percent
"paul donovan" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:09 min | 3 years ago

"paul donovan" Discussed on WAFS Biz 1190

"Ours is to does the fed turn a little softer. Do we get an agreement on US China? We have something else in common Powell, they right size their portfolio. The latest business news wherever we feel on Muskie's reinventing the manufacturing process of SpaceX on Bloomberg radio, the Bloomberg business app and bloombergradio dot com. Bloomberg the world is listening. Welcome back to the best of daybreak Middle East stocks across Asia, kicked off the week with strong gains as a soothing Federal Reserve comments and an easing of monetary policy in China that followed on from a bumper session in the states. The previous Friday were a blow jobs report boosted sentiment along with Jay Powell saying the fed policy is flexible officials are listening carefully to financial markets. We got more with UBS wealth management global chief economist Paul Donovan. Two things the first on the most important at least as an economist is the economy and the economy is doing just fine. Yes, it's going to be slow this year. The last year. Of course, it's going to be slow last year. We had the author officials sugar high tax cuts that face this year. So we get a slowdown but with flowing from above trend growth to trend growth, that's entirely consistent with sort of eight to ten percent earnings growth globally. And then we've got the central Bank in the United States saying wait coming closer to neutral. We don't need to go into a tight monetary policy. We're not going to try and rip press the economy. And that's essentially what Powell was saying. I think they still got a couple of hikes in them. But I don't think that that's another thing for the markets to be worried about. All it's so good to see you this morning. I want to press you on Powell's comments because I think they're quite important, but notably the idea that policy flexibility applies also to the balance sheet as well as interest rates is this Powell trying to correct a previous communications error and should the fed be considering a pause in its balance sheet unwind, given the eco data that we've seen out of the US, which has really been quite.

Jay Powell Bloomberg United States fed China Bloomberg radio chief economist Middle East Muskie Asia Paul Donovan Federal Reserve ten percent
"paul donovan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:14 min | 3 years ago

"paul donovan" Discussed on Bloomberg Radio New York

"Your business landscape keeps ever changing that we are going to see an all out trade to does the fed turn a little softer. And do we get an agreement on US China? We have something else in common towel. They right size. Kept portfolio. The latest business news. Musk is reinventing a manufacturing process and SpaceX on Bloomberg radio, the Bloomberg business app and bloombergradio dot com. Bloomberg the world is listening. Welcome back to the best of daybreak Middle East stocks across Asia, kicked off the week with strong gains as a soothing Federal Reserve comments and an easing of monetary policy in China that followed on from a bumper session in the states the previous Friday where a blowout jobs report boosted sentiment along with Jay Powell saying the fed policies. Flexible officials are listening carefully to financial markets. We got more with UBS wealth management global chief economist Paul Donovan. Two things the first on the most important at least as as an economist is the economy. The economy is doing just fine. Yes. It's going to be slower this year. The last year. Of course, it's going to be slow last year. We had the artificial sugar high at the scouts that fades this year. So we get a slowdown but with flowing from above trend growth to turn growth that's entirely consistent with sort of eight to ten percent earnings growth globally. And then we've got the central Bank in the United States saying look, we're coming closer to neutral. We don't need to go into a tight monetary policy. We're not going to try and repress the economy. And that's essentially what Powell was saying. I think they still got a couple of heights in them. But I don't think about settling for the markets to be worried about. All it's so good to see you this morning. I want to press you on Powell's comments because I think they're quite important, but notably the idea that policy flexibility applies also to the balance sheet as well as interest rates is this Powell trying to correct a previous communications error and should the fed be considering a pause and its balance sheet unwind, given the eco data that we've seen out of the US which has really been quite.

Jay Powell United States Bloomberg China fed chief economist Bloomberg radio Middle East SpaceX Musk Asia Paul Donovan Federal Reserve ten percent
"paul donovan" Discussed on WAFS Biz 1190

WAFS Biz 1190

06:50 min | 3 years ago

"paul donovan" Discussed on WAFS Biz 1190

"That out of now. US trade negotiators are in Beijing for a new round of trade talks with both sides aiming to reach a deal before the ninety day truce ends in March chief Asia economics. Correspondent Karen joins us from Hong Kong. And it we've written a lovely piece seven things that were benchmark success of failure. What is the key thing for you? Well, I think one of the things will be if there's actually progresses to further on the talks remember as you mentioned we have some fairly mid level talks in Beijing today. But if it goes to the next level where we get the likes of lighthizer, Mnuchin and others involved. Then we're probably going to be totally an indication that the overall trade talks are making some progress on track. But conversely, of course, if we come out of this week of talks or these two days of talks in Beijing with suggestions of progress has run into a roadblock, and they're not really making any headway on some of the key issues such as protection of market access or anything else. Well, then I guess it would certainly be a setback for overall sentiment. But American economists at the moment are expecting things like some progress at least had a March one deadline. And the devil will be as always in the diesel. I'm gonna give you up to speed with all the developments with the team NAR chief economics correspondent still with us is carry Craig executive director and global market strategist, J, P, Morgan Australia. Carrie, thank you for standing by in Melbourne, and I put the triple Aw for small banks and big bags the library. Because this is the policy response to the data. We'll talk right trade in a moment. The triple the biggest that we've seen since dot of last year. Now if that if triple ours got cut last year it did nothing to save Chinese equities. What does this policy move say you? Really it says more about a signaling effect that China is willing to to keep the momentum going in the economy. At the expense of some of the deliver djing there had been going through. So the fact that they are willing to to cut the triple outright again in earlier than we had anticipated that they're not using that function so more does jury lower the cost of money in the economy just goes to prove that they're willing to try and maintain that sort of six six fits in growth target as much as they can. And as long as trade negotiations having reached the resolution, which we think they eventually will China will continue to offer stimulus measures. They haven't gone as far as our right interest rate cuts. So there's more they could do, but they're going to find balancing act of trying to stimulate the economy, but see direct the money into the right areas and avoid some of those perhaps happened with massive stimulus in the past. Carey as we try and get our heads around the damage that's being done. We were hearing earlier from the chief economist at UBS Paul Donovan, he thought that extent of economic damage. That's being done was still not significant not meaningful is how he described that. We put together a chart we put this in our Bloomberg is well for our clients GT, go telling a story of continued slowdown of a continued slowdown and ongoing weakness when it comes to Chinese manufacturing. How quick a deterioration do you expect? And what does it mean for investments for you? Well, we had always talked about the coming impact of the trade tariffs have been introduced as being relatively minor in this game of things that it was always about the business sentiment being damaged that was going to have the greater impact. And it's come with the legs. So we've seen the numbers roll often in China. We've seen the business US come down as well. So it's having an impact there. And so we argue that delight effect come through. And I think that they can continue to be soft this data until we do get something more about a resolution early some positive news coming out and the longer that this link is just the list chancellor is setting a significant rebound in these numbers. Have our base case cases that they do find a resolution that there is the fact that they might see an extension to that ninety day ceasefire they put in place is those negotiations go on as the economic data from other parts of the world has the US starts to pick out those fears about a global recession do start to fight off in the numbers come up a little bit on the back of that. Because. It is about those aches orientated economies in China that I really being affected the most on that that doesn't mean that we would look at China and be a little more cautious and our locations right now, we think that there has been some value created throughout China as well as Taiwan Korea as saying some of the upside, shall we say resolution there, but again with that big question being not yet onset. I think it's a little bit too early to say that we could see significant movements. Carrie, if we do get a significant shift in the trae dial where is the biggest at I suppose risk on the currency. Let's say the dollar is it an Asian equities. Or would it be? Let's say in an American equities. Where's the biggest upside fee? If there is a shift. I think it was a shift that does come through the oil does come through the Asian equities. I mean, they have been pretty badly beaten up the middle part of two thousand eighteen they feel a little bit of December of this year. But they had gone to that period of pretty painful falls in prices, given that trade retard come through. And I think that I do the most upside should we get that resolution those valuations challenging it all we need to see a pretty significant shift in that trade retard wouldn't just need to be an into the status quo. I think you would need to see more of actually potentially backtracking of some of those measures and concessions, not just by China. But also by the US as well to see those export numbers really pick up from those. You know, if you look at the trade data the volumes did surge the last couple of months from Asia, and the general below that was his writing before those terrorists came through. Kerry. Can I get you to weigh in on oil prices, we had Goldman Sachs cutting back on their forecasts for twenty nine thousand nine where's your head on when it comes to crew? I think you could see crew go a little bit from here. We should set symbol of demand and supply balance coming back through, but you know, as we hit that that very light late psycho period. Typically, that's not a point where oil does perform very well because you're doing you have an oversupply demand SaaS the weekend. So don't expect a huge rebound and the oil price from here if it sits between fifty five and sixty five dollars throughout the rest of the year that has uptick from where it has been creates a little bit of inflation pressure, but still relatively know enough to actually support consumption around the world, so not expecting a huge upside from oil that I would suggest that people will balance comes back through. So that demand picks up and a little bit of supply comes off. Carey really good to see you this morning. Thank you for your time. Those insights, it's Kevin creek executive director and global market strategist at JT Morgan Australia. All right. Here's.

China US Beijing Carey Carrie executive director Hong Kong Mnuchin Karen Asia chief economist Melbourne NAR Bloomberg Goldman Sachs chancellor Morgan Australia
US-China trade truce seen boosting stock market

Bloomberg Daybreak: Europe

00:38 sec | 4 years ago

US-China trade truce seen boosting stock market

"Brexit altogether for more. We're joined by Bloomberg's EMMY unused are actor, David merrit. Who's with us in the studio. Good morning. David great to have you with us. So. Bloomberg is talking about a fresh Brexit battle that may have to face this week. What is that about? Well, there's a technical issue that the labor party now raised this is about the legal advice at the government's been given behind closed doors about whether the what the implications are of they're still now the attorney general Geoffrey Cox, he'll be talking to lawmakers later on today. The conservative party is saying we will not release mentioned, it's privileged. Client, attorney information. The little potus saying this is too big a deal for us to be in the dark about we want to hear about it. Now. Some of these details, of course, Lee had leaked over the weekend. It seemed unconfirmed reports about what this advice says why the conservatives not wanting to release it because it's obviously makes quite uncomfortable. Reading it includes apparently an assertion that the Irish backstop suggestion could trap Britain indefinitely into this customs arrangement with the European Union. So that's potentially explosive. It means yet more negative sentiment. Around this deal, and it's perhaps persuade even more Tory. Backbench MP's to vote against the government in this big vote next week. How's this week on to play out? David. I mean, the debates officially starts tomorrow parliament rights when it comes to the divorce deal. That's right. We're going to see many hours of debate on this issue led by various ministers in the house of Commons this week. This question about the legal legal argument is actually a little bit more long-term, even if there was a motion to try to force the government. I think we've got time for that to go through parliament's and hoping that just the publicity around it may force the government's hand. But yes, we're going to see lots of debates in parliament as the week goes on. And maybe as we get closer to that vote on the eleventh of December. There are reports in much of the British press about whether the rich are going to go ahead with it. If the numbers still looks so bad is she gonna keep plowing on and have a vote, which he may lose by one hundred two hundred votes. I think that's the big. Question. This week is is it really sustainable for. Mrs may go ahead with something which is looking about all people are going to start changing their mind. This idea of a confidence vote coming straight off to you know, this may actually serve in Mrs Maes favor because it may shop in the minds of some payroll MP's who think will you know, what I'm actually going to pull back from the brink at the last minute. Just very briefly David are you saying there's a possibility? The December eleventh vote might not happen various reports the sun newspaper suggesting some ministers are lobbying for that to happen. Maybe postpone it maybe asked MRs may to go back to Europe because the European Council meets a few days after towards the end of next week. Voters on winnable. There's nothing I can do I need to have some more concessions as you said earlier. Of course, the European leaders have said, it's this deal or no Brexit all so they've been pretty firm. Yeah. They've been saying no nine talk all along. Thanks so much David merrit for talkies through these different strands. Hey, when it comes to the Brexit story this morning. Let's get global news now within bugs Leon guarantee and good morning, Nara in France. President Macron is ordering his prime minister to hold talks with political leaders and demonstrators all the best movement. This comes after another weekend of protests in Paris beanbags. Scrapers Cousy reports the president returned Sunday to inspect the damage and hold an emergency cabinet meeting afterwards, indicating is open to dialogue with the so called yellow vest who opposes tax in environmental policies, but the yellow vest movement is totally new phenomenon France, and so far hasn't been able to introduce any leadership and its demands keep growing in Paris, Gregory, whiskey. Bloomberg daybreak Europe. Andrea Manuel Lopez over dole was inaugurated as Mexico's president on Saturday. Greenberg's Eric Martin says he's beginning to outline his vision for the country in his speech in the lower house of congress. He delivered a blistering attack on the energy industry overhaul passed under his predecessor investors are now looking to see which side of Lopez over or emerges as leader of the nation in Mexico City. Eric Martin, Bloomberg daybreak Europe. Israeli Prime Minister Benjamin, yes in your who is facing new corruption accusations with police recommending he stand trial for alleged bribery in a third case investigators say they have evidence that he traded influence for favors something. The prime minister denies the decision to charge allies with these Walia Torney general and delegates from two hundred countries are in Poland for a major conference on global warming here today. Tens of thousands of protesters marched through Brussels to demand a commitment to tackling climate change. The two weeks summits has been described as the most critical since a deal to reduce emissions in Paris in two thousand and fifteen they will news twenty four hours a day on air and tick tock on Twitter powered by more than twenty seven hundred journalists listenable than one hundred twenty countries. I'm Leon gerrans. This is Bloomberg Markus. Thanks so much Leon guarantees for bringing us up to date there. Now coming up here on Bloomberg daybreak Europe. Paul Donovan global chief economist at UBS is going to be joining us next plenty to talk about when it comes to the trade headlines, as of course, seeing this risk on rally across asset classes, I guess you could say it's been a long time coming with how beaten down particularly equities have been since the September peak. But you're seeing the stock six hundred up one point nine percent looking at the industry groups in terms of what's performing the best commodity producers. No surprise carmakers. No surprise tech, though is something that has caught. My attention is what we saw in terms of the NASDAQ futures outperforming p. Dow futures and text shares also outperform me in the Asian session, particularly with the lack of detail over this truce between the US and China, but anyway, equities rallying Boyle has been rallying strongly. You're seeing the EM complex rally on a weaker dollar at the ten year treasury yield moving higher by four and a half basis points. This is Bloomberg. Streams

Bloomberg David Merrit Europe Mrs Maes Paris Prime Minister Bloomberg Markus Emmy Leon Gerrans Attorney France European Union Andrea Manuel Lopez Conservative Party Prime Minister Benjamin Eric Martin President Trump President Macron Brexit
Baltimore cop suspended after viral video shows him punching, kicking man

WBZ Morning News

00:31 sec | 4 years ago

Baltimore cop suspended after viral video shows him punching, kicking man

"A Baltimore compass suspended after a viral video shows him repeatedly punching. A man and knocking him down police have not released details of, what led to the encounter but apparently one of the officers knew the man identified as Sean. Maguire, his friend, Terry Williams, was there You, know it was clean See that. This was definitely over aggressive the city's interim police Commissioner was deeply disturbed by the video of, that.

Superintendent Chris Collins Lieutenant Paul Donovan Stoughton Brad Kavanagh Kearney Square JOE Lowell Chief Of Staff President Trump New York Chuck Sivertsen Bremen Terry Williams Michael Cox Gregory Long Scott Rapoport White House Dennis White