21 Burst results for "Paul Sweeney"

"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:19 min | 3 weeks ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Is Bloomberg markets. With Paul Sweeney had met Miller. Now she four buy ratings from Wall Street analysts a recession doesn't necessarily mean stocks are gonna tank right away. What's an investor to do here in a rising interest rate environment? Where do you see the most inflation? Breaking market news and inside from Bloomberg experts. We were leaning pretty hard toward equity. To me, this looks like really just a one way street down. Because of all the dislocations, there's always relative value trades that you could be doing. This is Bloomberg markets with Paul Sweeney at Matt Miller. On Bloomberg radio. All right, coming up in this half hour, we're going to check in with Liz McCormick chief car bonnet of global macro markets for Bloomberg news. Talk about that yield curve inversion. Is that a thing plus Ted Smith cofounder and president of Union Square advisers? Let's talk tech, maybe M and a. Maybe some tech M and a. We got any plans for more M and a later this year, but first let's go to great Jared. Bloomberg news is getting a Bloomberg business flash, Greg. Still bouncing around session highs, Paul, jumping more than a one and a half percent with all 11 industry groups rising. The broad rally has been mirrored in the tech heavy NASDAQ as mega cap's apple and alphabet bounced back from yesterday's losses ahead of Netflix. Let me take a look at Apple right now up 1.7%. The S&P 500 is up at 1.8% of 70, the Dow's up 1.6% up 485, and the NASDAQ's up over 2% up 231, the ten year, is down 9 30 seconds to the yield 3.02%. West Texas intermediate codes down a half percent at one O two O 6 a barrel comics goes a little changed at 1711 even per ounce. The dollar Yan one 37 88. The Euro, dollar O two 47, the British found the dollar 2033. Members only clubs are popping up all across Manhattan providing an alternative social club and workspaces New Yorkers are spending less time in the office. More than a dozen membership clubs have opened in the borough since 2003, at least 9 in the past three years, most charged about 5000 or less some charged a whole bunch more. Can you imagine, you know, somebody calls their spouse and says, I work in late tonight. That's a Bloomberg business flash Bloomberg markets continue out. Paul Sweeney Matt Miller would never do that. Never

Paul Sweeney Bloomberg Liz McCormick Matt Miller Ted Smith Bloomberg news Miller Union Square Jared Greg Netflix West Texas Paul apple
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:31 min | Last month

"paul sweeney" Discussed on Bloomberg Radio New York

"Day, the Bloomberg markets podcast with Paul Sweeney and met Miller. Are there some sectors that you want to have more or less exposure to? We've got to vaccinate the whole world. I'm melis of the days Wall Street action. What's the thought on apple here from Bloomberg and diligence? Bloomberg opinion and influential newsmaker. The bond market was the boss. Bloomberg markets with all Sweeney and Matt Miller. Subscribe today at Bloomberg radio dot com. The Bloomberg business app or iTunes. Before and after the pandemic. Is it driven by politics or by science? That may be how we keep track of our lives from here on out. What do you think the political effects of that impatience will be? And through it all, there's been Bloomberg. We begin on Capitol Hill the most accurate business world and healthcare news before and after. The fundamentals do not justify this price action. Bloomberg radio, the Bloomberg business app and Bloomberg video dot com, Bloomberg, the world is listening. Israel's governing coalition has collapsed. The prime minister Naftali Bennett says, he and the foreign minister, yayo lapid have decided to dissolve parliament for the end of the month, setting up for the 5th election. In less than four years, Simone foxman is with me here in Doha. I mean, this someone good to see you this morning. I mean, voter fatigue is the first thing that comes to my mind when I read that

Bloomberg Paul Sweeney met Miller Matt Miller Sweeney apple Naftali Bennett Capitol Hill yayo lapid Simone foxman Israel parliament Doha
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:26 min | 3 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"With Paul Sweeney and Matt Miller Are there some sectors that you want to have more or less exposure to We've got to vaccinate the whole world analysis of the days Wall Street action What's the thought on apple here from Bloomberg intelligence Bloomberg opinion and influential newsmaker The bond market was the boss Bloomberg markets with Paul Sweeney and Matt Miller Subscribe today and Bloomberg radio dot com the Bloomberg business app or iTunes This is Bloomberg law with June gross from Bloomberg radio I've been talking to UCLA law professor James park about a former Nomura senior bond trader who was found not liable by lying to them about the prices of commercial mortgage backed securities Number agreed in 2019 to repay customers $25 million to resolve claims that it failed to supervise traders It seems striking that the government in these cases has basically been unable to get convictions or convictions that stick True I think that the defense might say a corporation like Nomura has incentive to settle cases with the SEC which is regulating it in a lot of different areas whereas individuals have more of an incentive to fight charges and I think it's something that the SEC is not always correct And individuals of course have a right to make their arguments sometimes they succeed sometimes they don't Overall I think it's a good thing when the SEC is challenged in litigation and occasionally has to bring cases to trial So I think certainly defense attorneys are well within their bounds in litigating these sorts of cases And there have been some losses but there have also been a few wins to a lot of individuals have also bee bargained or settled cases by and large and the second circuit that day in one of those cases involving another creator at Nomura that these lies could be material They could be material It's just an issue for the jury And so it's a legal matter to me This is a sound legal theory And just because the FCC lost this case and maybe a few others does not necessarily mean that it's a bad theory The other interesting thing about some of the earlier cases is that they were criminal cases Criminal cases largely brought by the U.S. attorney's office in Connecticut And that's a higher standard of crew And so one of the interesting things about the M twiddle is that this is a civil case with a lower standard of proof And so I could see why the SEC would bring these sorts of cases under that lower standard And then I think it's a significant thing that even under the lower standards that the SEC lost this particular case And so that is a significant loss for the SEC But I still think that these are good cases that the government should have brought even though they could be challenging to win each and every one of them Do you think it's a waste of money and resources for the SEC to keep bringing these cases I don't think it's a waste of money I think that the SEC should take cases to trial when this has to One of the criticisms of the SEC is that it just settles cases whether the 7s do not admit or deny wrongdoing and they just pay a penalty And I think that there should be cases where you go to court and go in front of a jury You might have to defend a decision in front of an appellate court And when the court weighs in on a legal theory that provides valuable clarity to the SEC and the industry as to what the law is And so I don't think it's a waste of money for the FCC I think that they should build up this experience even though it does take a lot of time in terms of attorney resources the more you try complex cases in federal court the better you'll get at And I think that's something that the SEC needs to continue to develop that expertise But it is costly in terms of time and resources But I think it's worth the cost Because of this crackdown where they're changes made in the industry are bond traders not engaging in this now The main change which is evident from some of the papers I read in the case is that banks like Nomura now have fewer policies about lying in transactions like this And I suspect that that is something that is very clear But in this very case even after Nomura has the policy which I think was after the lit back case which you referred to this defendant continued to lie And so that's probably that's probably to me that you have this sort of misconduct potentially continuing I hope that it is an aberration And I do believe that the vast majority of folks who work on Wall Street are ethical artist people And especially when there's a clear policy on an issue they will understand that there are certain lines that can not be crossed So I don't know if this market has changed but I'm certain of that The banks are more aware of the issue and I hope that they are taking measures to ensure that this sort of misconduct does not continue On a scale of one to ten how damaging would you say this verdict is to the government's attempts to rein in questionable practices by bond traders I would rate it about a 6 I think that it is one case on the other hand it does raise some problems in the SEC theory on materiality and what is material It also raises issues about the protection of sophisticated investors and it's plausible that the jury thought these are sophisticated investors who should protect themselves and they should not just rely upon these statements There's also the challenge of bringing cases with respect to conduct that might be sanctioned by industry norm It can be very difficult to challenge that sort of conduct as being illegal when it is the industry norm I do think the SEC should try and I think it was right for them to do it in this particular case And so I think you know the occasional loss is going to happen when you are bringing cases like this and to me it's the loss and it's significant but it's not a terrible blow to the SEC work You know it's interesting to think about how the prosecutors and enforcement attorneys and the bill hwang cases we talked about a week or two ago my view this decision And I said that they're a little bit nervous about this result It's a Manhattan jury It was a case brought with a lower standard of proof and the jury found that these were lies but they were not material because they were directed at sophisticated parties And that to some extent described some of the misconduct in the Bill fong case with respect to lies about the positions on funds was taking and the amount of leverage that it had because these are sophisticated banks On the other hand I think we can differentiate this case because this is not a case that the M case is not one that shook the stock market or the bond market These are live that enable Nomura and its traders to earn a little bit more in commissions and it didn't have really a huge impact on third parties whereas the Huang case is one where the lives allegedly facilitated manipulation that literally shook the entire stock market Thanks James That's professor James park of UCLA law school Coming up how to spot dishonest lawyers This is Bloomberg but I know about Take.

SEC Nomura Paul Sweeney Matt Miller Bloomberg radio Bloomberg U.S. attorney's office James park FCC UCLA apple Connecticut Bill fong government Manhattan Huang UCLA law school James
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:45 min | 3 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Traders I'd be Paul Sweeney and Matt Miller Yeah I've got some fat to trade That's for sure All right let me get speaking of my poor health Let's get over to doctor Joshua Harry joins us right now from on And I guess your focus really your company is focused on anti aging research and products I'm also standing in line for that Especially interested in Alzheimer's This is a problem that I think because of demographics so many more of us have to confront what can you do What can be done medically Good morning It's a pleasure to be with you Alzheimer's has been incredibly difficult and challenging There has decades of research billions of dollars have yielded only one new drug and that new drug has been very very controversial as I'm sure the listeners know Because it doesn't really work Many experts have taken that position Our group has focused on a different hypothesis around Alzheimer's disease And that hypothesis is that there's inflammation in the brain called neuroinflammation And that's driving the process There's a lot of data about that Our company is a cell based Therapeutics company on product is called Loma cell B it's a product that's made from human healthy bone marrow and is culture expanded in the laboratory and can be given as a drug as an infusion And because a lot of animal data and because a lot of information that we uncovered that the cells have an anti inflammatory effect they need a lot of sense to test them in Alzheimer's disease And they're being tested right now How do you get the healthy bone marrow We have young healthy donors and they we've established this process over the last 20 years a manufacturer is the product itself in its own GMP laboratory in Miami And because we have access to the product we have tested it in Alzheimer's patients and just published the results of those studies in the journal Alzheimer's and dementia So it's out there for anybody who wants to see it It was published two weeks ago on Alzheimer's and dementia Doctor you know this dementia Alzheimer's is going to be a growing It's already a big issue in our population but will be a growing one as our population continues to age How confident are you within the next I don't know 5 ten 15 years that the medical community will have reasonably effective treatments Therapeutics Well you're absolutely correct It's an enormous societal problem And basically the field has got to be open to testing a lot of different ideas which is where lonely cell D comes in We successfully completed our first study and are doing our second study So we're trying to move as rapidly as we can to substantiate the benefits we saw in the first study in a new study The first study was only 33 patients but it was placebo controlled And then we're now doing a 48 patient study and we hope to follow that up with a much bigger study So we are in the we are capable of moving very very quickly throughout studies and getting the answer So your question about the timeline is as quickly as the studies can be done as quick that's how quickly we can get the answers that new different types of approaches are effective Doc I just have a quick question because it's four 20 A friend of mine has always been worried about the effects of smoking weed He started smoking a ton of weed at his first Pink Floyd concert in the late 80s and stopped last week So is that going to be a problem Do you think in all seriousness do you see a long-term effects of this now widely legalized drug Well like anything it's just got to be tested What we do in the medical community and the BioTech community we rigorously test drugs in properly conducted trials to prove that they're safe and effective That's what we've done below the cell B and that that's what has to be done with marijuana based products I personally don't have an expertise in that area I haven't done any studies but if I was advising my own patients I would just look to the medical literature to try to understand whether there are harmful effects We're dealing with substances that have harmful effects all of the time in society tobacco alcohol So physicians just have to be aware of the medical research I think many believe that marijuana products have favorable effects So we will just find out from the results But I also do want to mention our studies of Loma cell B on aging frailty if I may Well actually we're running out of time doctor hare will get you back on and we'll get some more Let's do it again As soon as we can Yeah doctor Joshua hare cofounder of Again they're focusing on the aging process And boy I would expect that's going to be a growing market for Therapeutics Right now sit down in Washington D.C..

Alzheimer's Paul Sweeney Joshua Harry Matt Miller dementia Alzheimer dementia Miami Joshua hare Washington D.C.
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:30 min | 6 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"This is Bloomberg radio This is Bloomberg markets with Paul Sweeney and met Miller How do you kind of view the volatility in the marketplace here Everyone's focused on the vaccine rollout companies across industries really trying to shore up their balance sheets These equity indexes just keep going up breaking market news and inside from Bloomberg experts The strong dollar policy I think is a lot of its rhetoric Because of all the dislocations there's always relative value trades that you could be doing The only issue is how hot can home prices go It's the uncertainty I think that is really swooping everyone This is Bloomberg markets with ball Sweeney and Matt Miller on Bloomberg radio Good Friday morning from the Bloomberg interactive broker studio in New York City to our worldwide audience coming up we're going to check in with Uber CEO Dara khosrowshahi he's going to sit down with bloomer tellers We're going to bring that interview to you Uber coming back in seeing some upside here as we get to the other side of this pandemic Plus we're going to check in with my good friend Jerry Smith He's a Bloomberg news reporter He covers the media space He knows everybody And we're going to talk to him about the Olympics ratings down big Matt You've been watching I have been I'm all over Luge skiing figure skating Half pipe it's been some good stuff Anyway the ratings are down We're going to talk to us about the Olympics big big and Super Bowl So it's a huge week Sunday it's a big weekend for NBC and NBC in particular so we're gonna break it all down with Jerry Right now let's go.

Bloomberg Paul Sweeney ball Sweeney Bloomberg radio Bloomberg interactive broker Dara khosrowshahi Matt Miller Miller bloomer Jerry Smith New York City Luge skiing Bloomberg news Olympics Matt NBC Super Bowl Jerry Right
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:23 min | 6 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"On Bloomberg radio I'm Greg Jarrett Matt Miller and Paul Sweeney All right Greg thanks so much We appreciate that Greg Jarrett giving us that Bloomberg business flash Let's check in with Phil Orlando chief equity market strategist and head of client portfolio management at Federated Hermes they are big folks over $600 billion in assets under management Phil I'm an equity investor I'm looking at 2022 I see rates are going to be rising I see the economy's going to be slowing Is there any place for me to be in the equity markets Yeah It's certainly going to be a more volatile year Certainly going to be a choppier year but we think when the dust settles at the end of the year stock market will be maybe 10% or so higher than 4800 where we started the year We think we'll end the year at about 5300 But that's going to be a very back end loaded kind of performance The first 9 months of the year in our mind is going to be very choppy very volatile with the focus on the soaring inflation What's the Federal Reserve doing in terms of changing policy And so we thought there would be an 8 to 12% correction or so over the first couple of quarters of the year The emphasis here is going to be preserving capital and that suggests owning the stocks that are cheaper that have lower betas that have higher dividend yield support so we like domestic large cap and small cap value We like small cap stocks we like international stocks and those stocks have been performing a lot better than the growth year technology stocks which have been trading at sort of nosebleed valuation levels So hang on you want to in preserving capital you want to buy a small cap stocks How's that defensive The small cap stocks have gotten taken out behind the woodshed So the valuation is significantly more attractive than a large cap growth names The small cap stocks quite literally are 40% cheaper than the large gap stocks and they've got better growth Most people think that it's the small cap stocks that are trading at 50 or a hundred times forward earnings That's not the case So the value stocks the small cap stocks the international stocks are the places you're going to find better value And then what do you look for a specific sign to get back into the broader market if we're going to rally a 5300 at the end of the year Or is there a certain time that you want to do that Well certainly I think there's going to be chop into the late summer early fall period We want to see how this inflation plays out We want to see what the feds change in policy is going to be We know the tapering is going to end in March They told us that We know they're going to start to raise interest rates in March They told us that what we don't know is are they going to tighten policy raise interest rates every meeting every other meeting Are they going to give us a bunch of 25 basis point hikes Are they going to front load with a couple of 50s Are they going to start to aggressively shrink the balance sheet either passively or actively in the middle of the year There's a lot of open questions and importantly we don't know who 5 of the 7 members of the board of governors is going to be until the Senate confirms them or not Later this month So there's a lot of open questions surrounding inflation and Federal Reserve makeup and policy Phil it's interesting here we've had this pull back in the marketplace We've had a little bit of a bounce back here over the past week here One of the sectors that has been really interesting I'm looking at WTI crude oil at $91 a barrel Yes It's had such a move have the stocks had their day or is there still room to grow I know a lot of folks thinking about that Well there's no question that energy has been the best performer to date and deservedly so Crude oil has gone from 30 to $35 a barrel back in November of 2020 As you said we're now at $90 a barrel going higher We're probably going to be at a hundred 110 120 by the end of the year Why is that You've got this global reopening trade in which there is a significant demand for energy yet the largest energy producer in the world the United States we voluntarily reduced our production by 15% over the course of the last year because of fiscal policy So as a result what's the clearing mechanism price price has gone higher less supply more demand And that trend is going to continue until either the demand slows or we're able to put more product onto the market And the latter is look seemingly difficult OPEC doesn't have that much spare capacity Well two issues Number one they're saying well we're just going to slowly add 400,000 barrels a day over the next month to increase that But there are legitimate questions as to whether or not they've got any oil that they can put onto the market They may be they may be running on empty right now So the swing producer is going to be the United States and over the course of the last year We've taken our production down from 13 million barrels a day to 11 million barrels a day So in order to get the price lower U.S. producers need to be encouraged by the federal government to start exploring and producing more oil By the way Phil if we're at 5300 on the S&P and crude is trading for a 110 120 where do you see the ten year at the end of the year We think benchmark tens which are about one 90 now We think there'll be closer to two and a half percent by the end of the calendar year Interesting See Phil always brings the goods You know always got some headlines coming out of Orlando Phil thanks so much for joining us as always We appreciate your clear calls on these markets fill Orlando chief equity market strategist and head of client portfolio management That sounds like an important job He said Federated Hermes this Federated folks are based.

Greg Jarrett Paul Sweeney Federated Hermes Phil Orlando Bloomberg Matt Miller Phil Federal Reserve Greg board of governors United States
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:04 min | 6 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Podcast with Paul Sweeney and Matt Miller Are there some sectors that you want to have more or less exposure to We've got a vaccinate the whole world analysis of the day's Wall Street actions Bloomberg opinion and influential newsmakers The bond market was the boss Bloomberg markets with whole Sweeney and Matt Miller Subscribe to stay at Bloomberg radio dot com The Bloomberg business app or iTunes Before and after the pandemic Is it driven by politics or by science That may be how we keep track of our lives from here on out What do you think the political effects of that impatience will be And through it all there's been Bloomberg We begin on Capitol Hill the most accurate business world and healthcare news before and after The fundamentals do not justify this price action Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening Would you say it's more important to gather information fast or to have it first or to be the most accurate They can really move the needle when it comes to programs It's the level of support you get from companies for this What if you don't have to choose It also has enormous importance for the labor market How do they get ahead of different administrations We see this move towards digital currencies Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening We used to take our freedom of movement for granted Not anymore It's not just that people work for the airline and it's natural to feel grateful for the things that kept you going Does America have a chance to lose our advantage Can we get to her community fast enough so that will be in good shape But really we were just doing our jobs Oxford University is starting a study on patients who've recovered from COVID Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening United there.

Bloomberg Matt Miller Paul Sweeney Sweeney Capitol Hill COVID Bloomberg America Oxford University com Bloomberg
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:36 min | 7 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Bloomberg markets podcast with Paul Sweeney and Matt Miller Are there some sectors that you want to have more or less exposure to We've got a vaccinate the whole world analysis of the day's Wall Street action Bloomberg intelligence Bloomberg opinion and influential newsmakers The bond market was the boss Bloomberg markets with bull Sweeney and Matt Miller Subscribe to Dan Bloomberg radio dot com The Bloomberg business app or iTunes Before and after the pandemic Is it driven by politics or by science There may be how we keep track of our lives from here on out What do you think the political effects of that impatience will be And through it all there's been Bloomberg We begin on Capitol Hill the most accurate business world and healthcare news before and after The fundamentals do not justify this price action Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening Would you say it's more important to gather information fast or to have it first or to be the most accurate They can really move the needle when it comes to programs It's the level of support you get from companies for this What if you don't have to choose It also has a Norse importance for the labor market How do they get ahead of different administrations We see this move towards digital currencies Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening China's.

Bloomberg Matt Miller Paul Sweeney bull Sweeney Dan Bloomberg Capitol Hill China
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:30 min | 8 months ago

"paul sweeney" Discussed on Bloomberg Radio New York

"This is a Bloomberg market simulcast remain bostic alongside Paul Sweeney on the markets and I on the pandemic Let's hear from doctor Lauren sour at the university of Nebraska One of the big pieces of data that we're continuing to wait for and that people are actively collecting is that that initial space between exposure and when you start to be symptomatic And so one of the challenges is that in the U.S. our sequencing was delayed So while we've made lots of gains in that space since this pandemic began we had sort of gotten complacent And we had stopped sequencing everything to understand when these new variants came out So we're catching up on the data and comparing those data to Delta to other strains And I mean I think that this is the big focus especially considering our frontline workers need support They need a deeper bench right now So looking at how long it takes for people to become infectious and how long they stay infectious for is absolutely a number one priority of our scientists right now Well in Lauren obviously that answer may be different depending on the subject in question is vaccinated or unvaccinated And I'm wondering too as we talk about you know all of these symptoms appear to be more mild at least that's what the data has suggested early on How is that different depending on if a person actually has gotten their shots Yeah we are seeing milder disease in people who have been vaccinated There's a lot of work being done to understand how vaccine efficacy is specific to a Macron Is it waning Are we going to need additional boosters And but what we are seeing is that there is more severe disease in people who are unvaccinated And so the people who are in the hospital are primarily unvaccinated people There are going to be some breakthrough cases That is an inevitable but the people who are by far and large getting severely ill from this disease in this variant even though the variant seems to be less severe overall are people who are unvaccinated And we are seeing a spike in pediatric cases and many of that many of those are because we're catching up with children being vaccinated because they were they had access to the vaccine later kids under 5 still don't have access to the vaccine as we work on refining that study Pfizer is doing a ton of work right now to refine that study looking at improving and boosting the immunity of their findings Well speaking of Pfizer it's not just their COVID-19 vaccine that is at play now They also have the therapy packs lovid Merckx COVID pill was approved last week as well How much of that can make a difference having those therapies available when we talk about hospitals potentially being overrun with patients Yeah any additional tool we have in our toolkit right now makes a difference And these therapies are great because they don't have to be given in a hospital setting So this is where telemedicine comes into play We've even explored strategies of providers who are quarantining who can actually be in the hospital but are well enough to work to be able to run COVID clinics and things like that So staffing the approach to staffing is very creative And this gives us an additional space to provide COVID care for people who do not necessarily need to be hospitalized And that's huge And if we can get medicines like this to people early in their clinical course we can keep them out of the hospital which.

Paul Sweeney Lauren sour bostic university of Nebraska Bloomberg Delta Pfizer Lauren U.S.
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:27 min | 1 year ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Podcast that included a guest who understands real estate politics, understands making a difference and creating a more equal and just world. We're talking about. Don Peebles, founder chairman and C E O of the People's Corporation. He also served on the National Finance Committee of President Barack Obama. Bloomberg's Paul Sweeney and I began by asking about the state of US residential real estate. Interestingly enough, we're still seeing a lot of tail winds. For single family real estate. I think single family homes are very strong interest rates searched historical lows, and so it's propelling a lot of buyers who were able to do that. You take advantage of it around the mark market by That continued to be a bright spot. I think we're being in some places. What was very interesting in Los Angeles. The condo sales market is actually doing well and surprising bright spot in the marketplace and act again because people want to get out of their car. They want to Live close to where they work and their economy getting open back up. I think the challenge in the industry and real estate of or all will be. The obvious was retail, brick and mortar retail. And hospitality sectors are very challenged right now. And the office is kind of a wait and see right now. I don as you're well aware there's this existential discussion going on argument going on about the future of New York City doesn't have a future help, right? Is it what your thoughts Or course I think New York City definitely have a future and it will always be a teacher, a city of 8.5 million people that being said about 100,000 residents have left Manhattan, which is a significant number out of to know you're not a regular. I think What we're seeing in New York, though, is of a Perpetuation and continuation of a trend that was beginning to happen before and it started with the salt. Once he state and local income tax deductions were taken away, it started encouraging more high net worth. Individuals to relocate to more tax friendly environment. And then there were the diminishment of quality of life. Got a bit dirtier crime was creeping up a little bit. And then with this pandemic, it is accelerated, so I think on the high end all the luxury side, the residential market is going to struggle. Their sales volume for residential condos is down significantly and vacancy rates are at, you know. Um all time highs right now Vacancy rates for apartments in Manhattan or New York City of the whole over 5%, which is a very big number. And then there is about almost 20 million square feet of public office space. We're seeing a shift. And what we're also seeing now, if millennial coming of age of having being married, having kids and seeking out places that are more conducive To that, where the public school system more predictable and better quality of life and lower costs. I think we're going to see a shift of what New York City looks like. We're in a sea that that shift is happening. Alan and I think New York is gonna become will become much more affordable for younger people. And I think it'll you know, among the silver lining of New Yorker devil attract younger and more creative people there because it will be more cost effective. Well, So what is it also, then mean for you've got the gateway cities and then you've got secondary and tertiary ery cities. I mean, is that where you want to be investing at this point? Maybe not the gateway cities so much or I don't know. How do you see it done? I think it's very challenging right now to make any kind of long term investment in New York City. I think if you look at the emerging market ones that are the what would be a church in cities that are emerging, and I'm gonna become much more dominant players. I would say Charlotte, North Carolina has Significant good news recently. They just got a new corporate real occasion that's going to spend about $2 billion on a headquarters. You have Tennessee, especially Nashville, continuing to do well. South Florida is on a great run both single family size and attracting more opera Newell Financial Services firms. Now me and some of the bigger banks are beginning to look a back a house down there Well, so I think that those markets on some of the other, I think Nevada going to begin to pick up in Texas. So often do it very well will continue to do very well. I think it's the New York that in the Chicago that and city, the major gateway cities Are going to struggle. Boston being an exception to that life sciences and the strong intellectual capital in that marketplace, are saving it from what would be catastrophic results, like what New York is beginning to see right now. So don't just quickly tax you mentioned tax policy. What can states like New York and New Jersey and some others do. I mean, they just simply try to get more efficient? A combination of things. I mean, I think that means we're in New York has to recognize in New Jersey. You have to recognize that they are losing residence by the moment. I mean, we just launched a new product club in Miami Beach called a Bath club, which is a private beach club. And we are getting, you know, flooded by applications of people coming from New York relocating down, you know, just kind of most for the moment, so they've got a bit of New York. New York, New Jersey have to recognize they've gotta compete for residents, so they've got to be much more efficient and take a fresh look at what role the government had, especially in New York City. What is the role of the municipal government can't be everything to everybody has got a right sided work work quickly. And and this administration's been reluctant to do that. And then I think it has to take. Think about longer term tax policy. New York should be in the business of reducing taxes, incentivizing. A job generation and productivity. What I wanted to ask you is and I just got done earlier today doing a real estate panel for milk in and it was with global real estate leaders. And one of the participants was Zhang Jin, who is the founder and CEO, SoHo, China, and she made a point of, you know, there's very few women when it comes to global real estate, and I know we've talked with you before. There were other participants in the panel and all white man who said, You know what? There is no diversity when it comes to realestate. Are we making any progress? Especially with what we Have seen over the last conversations over the last 6 to 7 months in terms of racism and inequalities have are we making any progress on any of this? I think, you know. Yes. Slowly but surely if you look at it think about the global head of real estate for Blackstone is a woman. And an immensely qualified women woman, and I believe that I mean women continue to confront and call out the you know, discriminatory practices, a glass ceiling that bacon They both glass feelings get shattered. Systemic problems require.

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"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:13 min | 1 year ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Lindbergh's Paul Sweeney and I caught up with Elissa rap who reminded us about the difficulties of Koven 19. It continues to be a complicated code landscape. On the one hand, we know the diagnoses air up and 6000 issued day and 31 states that reporting more cases than the previous week. And yet there is an overwhelming amount of intelligence. Now that Cove in 19 transmissions from Children on maybe the Children are not to blame. So I think it's Tough to navigate. So a little on that front. You know the Children here? You know, the New York City schools are obviously the largest school district in the country opening pretty well so far. Does that suggest that maybe Children are not super spreaders, which was a risk as we will reopen schools. Great question falls. So you know there was an interesting article on this in the Atlantic just about 10 days ago that schools aren't the super spreaders from an economist at Brown University, Emily Oster, and I'm certainly not saying that the super spreaders where we are in suburban Chicago, and if Children are in math and socially distant Between that between that economists view and the American Academy of Pediatrics literally put printed an article that, said Cove it 19. The child is not to blame and an Icelandic that he talked about how Children don't give it to teachers. I am not an epidemiologist. That said it once I'll say it again. But to me, the data is compelling that Children don't seem to be super spreaders, and I'm really glad the reopening. Has been less virulent upon intended than people anticipated, right. We actually had Emily on, and we did a great story in Bloomberg BusinessWeek about her and just kind of her background and her thinking, But we also had her on to talk about Her work in her research. Yeah, it's interesting. I just did a big discussion with a bunch of global real estate leaders. And you know there was a consensus, especially when it comes to colleges and universities of feeling of We've got to get those students back. I think you know the concern among colleges and universities has been The older professors and their exposure. Yeah, And I teach as you may know where. Stanford University and University of Chicago and they've been very conservative about zooming on Ly for the fallout of not concerned for potentially me or my age peer group, but older professors and I think that Actually going better than expected from a student morning perspective, at least of the graduate level, But I think we do, of course, have to be most concerned about our most vulnerable population and that includes age. Another co morbidity is a risk factors and those are the folks who will likely get the vaccine first as they should, but The question now becomes, How do we learn to live with it until the vaccine is truly wide spread by the middle of next year? And I'm a little bit hopeful in spite of the numbers like excited in the beginning that if Children aren't the super spreaders, and we can at least get kids back to school, with masks, socially distant and safe ways, even if its hybrid learning like my my two daughters were under 10 both enjoy At least civilization and society as we know it can start to unlock a little bit. Hey, listen, your You know your company you have over two employees were really on the front lines of this in the health care system. One of the concerns or questions I guess people have is okay. We were We being the U. S health care system was fairly well blindsided by This back in March of last year. What have we learned from the healthcare facility? Perspective? Are we in better shape for a potential second wave? I talked to our major hospitals. We have 40 across the country in nine states, and they are better prepared operationally in terms of pee, pee and supplies and protocols, But a lot of hospital administrators think about crude right now as a second job. It literally doubled their workload. So I think the bigger risk is not operational Prep Ernest But but burnout amongst frontline providers as well as the administrators, because this has taken a major toll on our on our people. Hey, I want to go back to if I may just a little education for a moment. I do wonder if there had been some consensus. Some Overarching guidance from government. I'm not looking to get political here, but you know the rules from the government about here's here's some plans and weighs Tio reopened education on a national scale so that we didn't have all these hybrid approaches with that been better and maybe help get education open up and running sooner and more and safely. It may have, but I heard Doctor found you speak to the Economic Club of Chicago about six weeks ago. In his response to that question was, I thought the best I've heard, which is We should our federal response to be one of localization, so it doesn't matter what state you're in. It should matter what locality urine and what the cases are. Are they on the rise if you're in if you're in a state worth on the rise, but your locality and no cases of covert like some of our possible in rural Kentucky. And you should be back open. Their kids should be in school in maths social distance thing, no matter what the state situation is, although I don't know if Kentucky's rising ST today but what I think his answer is the best one if the federal policy had been a hyper local decision making on this Perhaps we would have had more nimble responses, Perhaps So I guess you know the relates to these schools and so on. I mean, that seems like the virtual is working. That's what high school student with a kind of a hybrid approach that seems to be one of the more successful ones. I think hybrid with with some in person and some virtual learning does to me. Also, Paul seemed like the more successful approach. If, of course, you can flex to your virtual if there's an exposure, and if The world is very different comes spring and is a vaccine. That's why distributor than people could be back. But I am grateful. We're back Hybrid as well in elementary school, I think the biggest risk because we know his car college campuses or graduate schools where adult young adults are in concentrated settings. And maybe not taking as many precautions and that worry she has spread. So we'll say, you know, Listen, you did mention you are teaching. Are you teaching classes right now? I'm just curious if you are and how that's going. Yeah, thanks so much. Carol. I did teach this spring in the beginning of the pandemic, And I just finished the course at Stanford Business school by assume, of course, and it's going well. It's just a different art form when you're when you're a professor to graduate level with 30 to 60 people in the room. You read the room and their body language as well as program them with the Socratic method. All that can be done by assume it's just slightly different and it has taken practice. But it's going well, thank you for asking. So what? You know you think about it. I have two Children in college. Thankfully, it's their last year tuition wise, but they both said, Yeah, it's not ideal, but work. We're kind of getting through it only thing labs a little bit, then issue But other than that, you know they were doing a lot of their stuff. Kind of remotely, anyway is it gets the later years of college? I think it also depends on the nature of the student him or herself. Right? It is a self starter who is going to do the work and still gets to be in an environment with piers, Hopefully, safe environment, period social distancing in masks wherever possible. I think that it It could be really successful. That's Elissa Rap, CEO of the Health Care Solutions Cos. Surgical Solutions, finding ways to stay connected with her students. Despite the pandemic, check out that full interview at Bloomberg dot com. Or wherever you get your podcasts are you're listening to Bloomberg BusinessWeek..

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Index of U.S. leading economic indicators climbs for July

P&L With Pimm Fox and Lisa Abramowicz

05:56 min | 3 years ago

Index of U.S. leading economic indicators climbs for July

"Today's july conference board leading economic index which actually came out positive and more positive than people had expected here to talk about. It is bart van ark. He is the conference board's chief economist joining us but i just want to get started with the numbers. What exactly did we see in july well. It's a pretty broad based improvement actually into numbers so <hes> particular helps. Here's housing permits have picked up a fair bit. An employment insurance earns claims have gone down which was mentioned just earlier stock prices in july. Were okay not an artist of course when you're either leading credit index okay. There are few downsides you know for example komo. Ida is an index has been down july. That's being continued but if you balance it all out it was actually somewhat stronger improvement. We had expected and i think what's very important. It's not just one month. You've also are six months average has improved quite a bit and he's sort of back on track about open eight percent growth so the expansion just seems to extend a bit further. It's interesting the <hes> <hes> some of the data your data today some of the p._m. Data at it. I think we're just thinking back to some of the retailers that reported this week. You know just kind of reinforcing this narrative that at the consumers generally pretty strong there but let's flip to the manufacture and that seventy percent of the u._s. economy but that thirty percent manufacturing side showed some signs this continued show signs of weakness and we certainly have seen some weaker numbers out of europe including germany so kind of what are you seeing on a manufacturing front yeah so the manufacturing psycho still very weak issue say dire highly highly dependent on what's happening in the rest of the global economy over germany was u._k. Japan significant parts of asia are week so that's why we expected. Industrial cycle will continue to be downbeat on this whole story but you're saying the u._s. It's the consumer which really matters as long as the labor market remained strong continue to see some increases. I think will pull us along for a while. How much of the increase in the unexpectedly large increase in this leading the economic indicator index is due to lower rates and the idea that the fed was going to cut rates more than people had previously expected earlier in the year yeah. I think it's a little bit early to expect that to change in tune of the federal reserve has already playing out into the numbers etc confidence site so i think on the confidence site right we will. I think it has helped consumers to hear the story that there's you know lower rates and that helps them. A little bit is the only thing is about housing. You did see an improvement in housing in your there was an improvement in some of the credit metrics which have to do with also lower rates makes it easier to borrow and refinance and as well as equities right that's and part of one of the one of the factors in the index so all of those things were sort of supported and i'm just wondering how much of a boost that is. I think the mortgage rates are by far the most important in here and that of course because that's where you will see these long rates putting putting through into the mortgage rates becoming lower so i think that's why did housing permits number comes nice offer for housing indicators that those all look pretty well so i think the housing market is a very important part of this action so it's interesting the lot of talk kind of growing talk a with the better recession in the economy. Maybe you know i guess in the beginning of the year. People can omid twenty twenty now. Maybe push the late twenty twenty two twenty twenty one but i guess what what what is your data showing you as and what are your thoughts about pending recession given just how far we are in the cycle of i would say i mean despite i today's good number which were very happy about we still believe that economies on a nice edge and <hes> so default scenario is a gradual slowdown of the u._s. Economy me too about two percent for the remainder of this year which is slower than it was last year and the average to beginning of this year and into next year we'll be around two percentage wise as the underlying the long term growth rate of economies who are more at trend but there is a down a potential risk of course a very very high and again to consumer media metrics here. There's a lot of uncertainty and economy. The consumer seems to be okay with it. I mean you all the news comes in and goes out in everyday changed on balanced. I think it's kind of okay but if any of these uncertainties rhetoric is brexit or the trade trade disputes or hong kong is turning into a big shock to the consumer could pull back and that would be the alternative scenario of much faster slow down so you say that even even though this is positive you think that the economy is on a knife's edge. What in the numbers is giving you that sense. Well i think in numbers there are still as as we have seen in. Today's numbers vary a little but the underlying economic fundamentals have been weakening. You know i mean we're we've been gradually slowing down to this trend growth of the economy yesterday. There's still strong but we're adding fewer jobs but activity is going up but it's not going very rapidly so if you add all these factors up and the u._s. economy is not gaining team where just extending the expansion and that puts the economy at a nice edge because if there's a negative shock in the economy you can very quickly get into trouble but again. It's an alternative scenario r._e._o. Probabilities on the default of about two percent growth and are you expecting any kind of trade deal done before the election or you. Is your base case assuming now well. The question is what what exactly is a trade deal. I think both the u._s. And china want to get to some kind of agreement because his beckon thorvald not agreeing on anything not helpful to question is what is the nature of that agreement and most important thing of course is to get these terrace of the table or at least a fred of tariffs and gradually pulled them back better we will have more fundamental agreement which deals with intellectual property not and technology and and fern direct investment arrangements. I think that's probably something that will take more time bart van. Thank you so much for joining us part dizzy chief economist for the conference conference board. Thanks for listening to the bloomberg pl podcast you can subscribe and listen to interviews at apple podcasts or whatever podcast platform you prefer on paul sweeney. I'm on twitter at p._t. D._t. sweeney and lisa abramowicz on twitter at lisa abramowicz one before the podcast. You can always catch us worldwide on bloomberg radio.

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"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:48 min | 3 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Along with Paul Sweeney and Lisa brown it's in the S. and P. five hundred lower at the open down one point six percent down forty five points to twenty eight eighty five the Dow Jones industrial average down one and a half percent or three hundred eighty six points to twenty six thousand seventy seven and the nasdaq down two and a quarter percent or one hundred eighty one points to seventy eight twenty two ten year treasury of twenty to thirty seconds the yield one point seven six percent yield on the two year one point six one percent NYMEX crude oil down two point two percent or a dollar twenty four to fifty four forty two a barrel go my school that one point two percent or seventeen dollars forty cents to fourteen seventy four eighty announce the euro one point one one seven two against the dollar the yen what six point one four Leeson Paul thank you so much Hey Kerr and right now we are looking at a pretty ugly market which raises the question of how much it China's allowance of the when to go above seven per dollar how much that disrupts existing positioning among hedge funds how much how quickly people can adapt to this I'm so pleased to say that we have mark Connors with us and joining us from Credit Suisse he is global head of prime brokerage purple you and risk advisory mark I love getting your insights because you have real good on the ground feelers out as to how hedge funds are positioning how they are thinking and I'm just wondering heading into this weekend when I tried it did make this move or allow this move to happen well how are people positioned how hedge funds kind of looking for things to progress thank you Lisa and morning you're you're right it's an ugly case and hedge funds have selfish earlier because they came into the weekend actually into the months defensively positions and defensive we mean that the whole foot printer leverage profile was at a bottom decile level on a two year look back to clutchfans very leveraged active trade profile they've taken in their leverage profile because they weren't seen the ball they were seeing the ball since as early as two thousand eighteen when very high profile hedge funds for saying what's happening with the market was valued momentum in June of eighteen I mention that because that was when we first had that terrace initiated talks so we're talking about is how macro impacts especially CNY as it relates to low growth impacts market dynamics yeah and hedge funds took down their positioning because of it so they saw it and now the rest the market see in it so mark when you look across the spectrum of hedge funds what is some of the strategies right now that are attracting the most inflows well I sure can't services team would would say macro strategies there's definitely some so the hedge fund industry we say will you long short of your macro are you event those were kind of nineties indoctrinated or created funds but Paul the change now to say a large platform will say listen we have a multi strand weaving event but you know we have we have this one great idea do you want to find it is called a fund of one so the industry maturing is becoming more of a business and has the spoke offerings they're not just saying come into our big co mingled it's becoming more complex asset management entity and and that's what's happening so the result of that you know all that those words are just said is the industry's consolidating and the bigger getting bigger because the market's tough it's tough to make money so you have to change your business plan that's what's happening mark I love it just all those words that I was saying this is what it means get out there yeah I mean mark honestly I I'm trying to figure out whether this is sort of indicative of the fact that markets don't have that much more to fall because there is a feeling that the fed is going to support things in because heading into this people were sort of position defensively it's not like this is going to disrupt some sort of consensus trade what's your view on that the hedge fund it will not be the sellers in this market and they have not been for the last several days so your dad on there however like we saw in queue for the sellers in October we're not hedge funds they were long only so if we're punching to new levels in the sea and why which means that it's it's it's it's an area that we haven't explored before north of seven they're doing it because we think that your directory I think if you're the trajectory of global growth is lower which means more revisions to earnings models or expectations so let's take a step back and appointed to one Grassley so you and I always talk about or I always ask you to to look at and and we share is the U. S. ten year versus bund so to me that at like a hit two eighty when trump was elected its its is spread between minus fifty burned into and the one seventy five ten year and it's compressed it used to be white which meant that the US has more inflation more grows as come in and the point where one water table so the US thinks is that they're different and is exceptionalism there to think again we are migrating to the trajectory of Europe and Asia okay Sir mark this is a really important point and it raises a concern that a lot of people have which is the U. S. is heading negative just the way that Europe and Japan are do you think that is plausible that we're gonna see it negative treasury yields the next few years a one percent ten year is a prize of probability not a possibility so we'll start there this is a likelihood right have that sooner than later that's the call that is a vehicle yeah so so it's interesting mark I mean so what do you sing you mention the consolidation in the hedge fund business it seems like you know it it's all come down to the city tells in the point seventy twos of the world and it is that good for the industry the consolidation were saying it's necessary in order to to play today's game you have to cheat scale yet invest in technology at investing data and yes investing a new course people the skills and they said you then have to leverage your existing platform for new products which means business development people six people or twelve people in in a room can't do that alone it doesn't mean that those animals don't exist and want to continue to exist but they won't drive growth in the industry and they do serve a purpose there need your knee issues that are served by smaller firms so again at any age a market okay so you said that treasure you'll hang to one percent ten year treasury yield thirty one percent is a probability not a possibility but you see convergence and rates around the world I'm wondering whether this happens independent of another recession or whether it's a deep recession is seeming increasingly likely and to that part I I I I can't speak to sort of out of my domain of expertise reason for people are positioned for convergence of growth sort of a protein that term you know terminal velocity is in recession I wouldn't say wrists people in opposition for recession now but the our position for a convergence of growth approaching zero and the fact is it is well they they're trying to redefine our star gate there absolutely changing the way they execute their mandates and that's come from Bullard over the past eighteen months pretty clearly so they don't know where our star is people gonna look to technical and and sentiment data and back to the ten year bund spread H. I think averages less than a hundred basis points over the past fifteen years and if we go back to that mean a ten year old be a fifty basis points the one percent using historical patterns is not a very difficult target to hit Markkanen always fascinating having hearing your thoughts on the hedge fund business mark Connors Christmas global head of prime brokerage portfolio and risk advisory and I think maybe the key takeaway here was perhaps his call for a one percent on the U. S. that ten year as a probability is a probability not a possibility and the idea of convergence and rates between the US and Europe and Japan and I and and and and and all of Asia I mean I'm I'm trying to develop markets I'm trying to figure out though what this means for the economy whether it's stagnation whether it's stagflation or whether it just means that we're in slow growth for for a long time right I think and that's kind of where I was falling down on the ladder there kind of slow growth we've heard that from some various sources here yeah and so it's we see we've seen in in Europe we've seen slowing growth in Asia we're seeing slowing growth in the U. S. so that goes to a global slowdown this is Bloomberg a.

Paul Sweeney Lisa brown ten year one percent two percent two year seventy eight twenty two ten y one seventy five ten year thirty one percent seven six percent seventeen dollars eighteen months six one percent thirty seconds fifteen years six percent
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:35 min | 3 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Investors are hoping for some relief today after yesterday's Wall Street plunge following China issuing retaliatory tariffs against the US Angus king, the independent US Senator from Maine says American consumers will feel the pinch of the trade tariffs. It's a high stakes and I think a dangerous game right now. And it's going to directly affect the US economy. This idea that the Chinese pay the tariffs. American consumers are going to pay the terrorist. The NFL small business optimism index comes out today with Bloomberg economics, estimating optimism increased in April as small companies boosted their hiring plans. The rise in tariffs to twenty five percent from ten percent on two hundred billion dollars of Chinese imports. When not affect the April report, but could weigh on small business sentiment next month. Also today Darth Vader's original costume from Star Wars, The Empire Strikes back and other SCI fi film memorabilia goes up for auction at Bonhams in Los Angeles. The costume is expected to fetch over a million dollars. Mark mills Bloomberg radio. Markets in focus every business day podcast with Paul Sweeney. Hanley other some sectors that you want to have more or less exposure to this engine of games on militias. Today's Wall Street actually, US market looks relatively safe from Bergen diligence Bloomberg opinion and influential newsmaker McCarthy joins us right now. Sweeney and Lisa Abramowicz. Listen today on Bloomberg the Bloomberg business app describe on podcast. Are you one of those people who thinks it's okay to drive stone? I mean, what's the worst? That can happen. You end up driving below the speed limit..

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"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:36 min | 3 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Paul Sweeney joins us. And of course, Paul, and I will beat the death here in about forty five minutes in the nine o'clock hour, Paul wonderful to have you with us on lift is lift priced up. Because as John Templeton would say there's a shortage of shares. Maybe I think that's certainly part of its supply and demand. Right. But clearly, I think the investors here are looking at this long-term grilled story, which is kind of the global ride sharing business that didn't even exist. Several years ago, but Uber and others around the globe have shown that there is a huge demand for this globally and the first way to play it for public equity. Investors has been lift. So I think there's some value for lift coming. I do the index funds half to buy list shares that come in and by definition, they have to own it. I'm not sure lift is going to be in the index. It's at some point or the various indices, I think the assumption is yet probably will be given the market cap of this company. Uber certainly will be indices going forward given its market cap. So I think this is something that a lot of investors big mutual funds really want to own and having their portfolio, and I think they're going to have a similar interest in Uber. When that prices later this year so pull face one. It's uber. Versus left phase two is autonomous driving. Then the poll of competitors gets a whole lot bigger than those competitors potentially have much deeper pockets. How do we think about what the future looks like Felicity Nuba? It's just the two of them now. But in the future is a different different industry. You're right at your see more technology companies, and you're gonna see the auto companies come in as well. And I think that's one of the selling points that lift was trying to make on this road show. If you take a look at their perspectives. It was really saying, hey, we're really focused on ridesharing and ride sharing in North America. As opposed to Uber, which is into all different first of all they're global and they're making big investments in all types of other related businesses, like autonomous vehicles electric vehicles and all that type of thing. So I think lift tried to play up the fact that they are focused on the core ridesharing market in North American. I think investors felt particularly comfortable with that. Because that has such a long runway ahead of it. This to me looks like a feature acquisition target for much. Am I way off base? No, it certainly could be. I mean, I think one of the great things about being first to market and being successful like net flicks. For example, in the media business if for lifting Uber, you really established brand value in early burgeoning marketplace in that has value. You have a big installed user base that has. Value. So you're right. I think to the extent that people want to get into this business in a bigger way and get a foothold to this business of your big tech company that certainly option Paul Long ago and far away John fair when I share the same residents up a glorious Fifth Avenue in New York Feroz moved onto another three thousand additional. Midtown. But we used to take Uber lift whatever every day every single one of those trips lost money for somebody. When do they actually make a profit throttling down Fifth Avenue? Uber. Wrecks or Uber fancy or whatever. Yeah. That's a great point. And it's amazing to what extent investors just looked past the the near term and intermediate term lack of profitability again, just for twenty eighteen they lost almost a billion dollars on little over two billion dollars of revenue. So they got a lot of work. And I think the two big issues they have to get a handle on is the insurance costs they bear. All the insurance costs are the majority of the sheri- for their drivers. And that's a big issue. They need to figure out a way to moderate that. Or maybe put some of that insurance costs back on the drivers. And then the other just simply the subsidies. They're paying to get market share. So those are two big costs that they have to rationalize. As does Uber in order to get the profitability, and I know what you're looking at some analysts models out there. They're not really looking for profitability for the next several years pulse. Sweeney David serve couldn't a college invented something. I'm gonna say fifteen years ago. The game forum, which folks is devolved into fifteen hundred college kids in pulse. Weenies hilton. Hotel, and there will be important conversations with you and Lisa Abramowicz. Who'd you have. Yes, it's gonna be a really a great day here. I can see just you mentioned fifteen hundred kids in my bosses walking past me here in the in the lobby future bosses, but we have a Kathleen Hayes from Bloomberg is interviewing Dallas fed president. Robert Kaplan, take a look at his thoughts on the economy inflation monetary policy. And then of course, we have legendary investor Bill Miller chairman and chief investment officer Miller value believe Legg Mason getting we'll get thoughts on the market. So a great line of from Quinnipiac game for what should John Farrow do with his eight thousand shares a lift? He's going to buy more on the open here. Thank you. Thank you so much, and again, we'll do this at ninety equity skew making people think that at the open I'm day trading in the commercial, buy and hold. I mean, I understand I have no position in this market now position whatsoever in this market. John the assumption. Seriously, here is going to be other IPO's right behind this. Right. Yeah. I mean, this this is the welcome mat for the much bigger rocks, which is. Well, no, I believe Pinterest as well. Right. We work another one that a lot of people talking about FEMA. Maybe eventually what? This is. We dive into April stay with us. This is.

Uber John Templeton Paul Sweeney Paul John North America Felicity Nuba John Farrow Paul Long FEMA Sweeney David Pinterest Kathleen Hayes Midtown
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

10:02 min | 3 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"Along with Tom Keene and Paul Sweeney and the s&p five hundred is higher at the open up two tenths percent or six points at twenty eight eleven the Dow Jones industrial average up three tenths percent or seventy seven points at twenty five thousand seven hundred five and the NASDAQ is up a quarter percent or eighteen points to seventy six sixty one ten year treasury is down five thirty seconds yield two point three eight percent. The yield on the two year two point two two percent. Nymex crude oil is down one and a half percent on eighty success. Fifty eight fifty seven a barrel. Comex gold is down one and a third percent or seventeen dollars fifty cents to twelve ninety nine forty announced the euro at a dollar twelve twenty five in the yen one ten points. Six seven. We'll be watching shares of Lululemon this morning are climbing fifteen percent to a record intra-day high Tom and Paul thanks so much. Karen? I mentioned a bit ago the sophisticated booking process of Paul Sweeney. And I have is hey, get Allison Williams, which is basically what I did unsure dilution about two hours before that in the early dawn before he was getting up at his rockstar eight thirty AM was get max Niessen because we need expertise on America's medical care system. Max Niessen with Bloomberg news, just absolutely definitive on this. First of all what portion of our GDP goes into medicine. Is it really nineteen percent? Do different industries will give you a different number of they'll tell you Costa to eleven but that number that they like to use excludes medicines given in doctor's offices hospital in shock. Yeah. So. You know, if you include medical care that sometimes associated with things like the more aggressive cancer medicines, you could inflate that to a to a higher Smith to so always in healthcare. It depends on who you ask let's start rhetorically with not ObamaCare the Affordable Care Act. Do you have an idea of what Trumpcare is is there a plan from the president and his supporters? You know, the the most recent thing we have to look at is the president's twenty twenty budget, and that effectively for the most part just rehash the sort of plans that were proposed to a year or two back when they were trying to repeal and replace the Affordable Care Act, which basically kind of kicked funds back to the states and weakened the public's lobbying for I mean, the tradition was whatever anybody's beliefs listening, and all of our histories in this somebody would say, I believe in the doctors and the nurses are. I believe in the who does the group supporting the president on Trump. Care who who's there? Who's there group that they're they're coalescing around? That's a that's an interesting question. I think that what you hear over and over again is that or at least the rhetoric is that they one choice the freedom to pick the sort of health plan of it's kind of more individually tailored than what you could get under the Affordable Care Act. But of course, you'll let I get more male on this Paul anything except fully employed America. Here's the choice of the male. I get across all walks of life, somebody at a two thousand dollar deductible, and they can't make it to June. I mean, that's that's the letter. I get right. So maximum endowed by me, President Trump's actually talking about striking down a Bama care the Affordable Care Act in its entirety as opposed to just picking off little pieces of it is that even possible. It would be it's possible. If this legal case came down that would be the result, you could maybe tragedy delay parts of it. It would be incredibly disruptive in the sense. They you know, people that are currently get their shirts on the individual market or through the Medicaid expansion. That's estimated to be inaccurate as much as twenty million people with lose coverage, and then beyond that, they're a bunch knock on effects which were white spread than just that. In terms of rules about how doctors are paid. Having place for women to breastfeed at work. What drugs to the FDA can approve so it's really widespread integrated the healthcare system, so just not out right away would be phenomenally disruptive that system. Well, even making maybe even more aggressive efforts to dismantle is what kind of bipartisan support is there in congress for doing that it seems like people generally are happy with the kind of as it stands now. So you've got two different sides of this. You know, the Republican party already attempted through the reconciliation process to create a replacement. They couldn't do it because you know, protecting people with preexisting conditions. That's kind of the most popular part or rose probably popular parts of the DCA that's incredibly difficult to do the as basically a flawed set of compromise is trying to do that. Good question. Steve Rattner was over with morning Joe today, and Steve Rattner good friend of the program. I should mention is. Disclaimer, he assists. Michael Bloomberg with with some of his investments. Mr. Bloomberg part of Bloomberg television. Bloomberg radio, of course. But max. Lisa. What was in the Ratner chart is this stuff is popular if the president in others want to get rid of whatever you call it pre existing conditions who were they representing when they say they wanna get rid of that. I I think in part it's ensures who might like to be able to offer a broader set of products. It's people they're basically, arguing the prices are too high when you force everybody to get that sort of coverage. But the intent of that is unless you provide that broadly, then you start fragmenting the market, and you charge people people that have something like diabetes dramatically higher prices. That's the problem with the ACA was fundamentally designed to solve and what she starts taking out any part. You inevitably get sort of a cascade of a higher prices that basically push healthy and unhealthy people in the two different markets. So you have to compromise you're going to have higher prices for everybody or higher prices for a few people. And and that's just the tradeoff so maximum we think about kind of rolling back or dismantling parts or all of the Affordable Care Act where is industry in this. Where's big pharma where the hospitals? We're the insurance companies. They. Pushing for changes or they just saying the status quo is okay, we can make money here. It's it's more that they think the status quo is okay. There are certain changes. They'd like to see a night point to a set of bills ruled out by Democrats yesterday, which would could make an effort to strengthen the ACA kind of solve some of the initial issues with the program boosts subsidies, reach reduce a reinsurance and other programs that health insurers offer more affordable insurance, they they'd like to see that rather than what the president is proposing talking about the giant Reinhard at Princeton University who does appear to be many many times before and was profoundly important framing this debate over the last thirty years, how British are we this morning? How how close are we to the evil socialized medicine? How close are we are we getting British? We're we're still pretty far away at the end of the day one hundred and fifty million people get their insurance through the employer market and in order to get to that skit British. You have to figure out how to make the transition and a lot of people there are are very happily with their heavily subsidized care of subsidized through through tax law. So that that's kind of important political editor in that. I don't think we're too close to getting over. You gotta do this again with this Bloomberg has just outstanding. Max, I'd have no idea. What's going on in the healthcare space? It makes my head's read everything this guy. Right. He's over there. And he has his cubicle. This thing. No one can sit around him. It's so intense. He's got like seven desk surrounded because he's got a job for life, though. His healthcare will never be figured out. There's always going to be a need for reporters. Still explain it to people like me, and you is fault going sexualize. Whatever thank you Mexi sincere asleep. Just just brilliant. And certainly we learned a front and center moment in the two thousand eighteen campaign by our predictions. This will be front and center healthcare in twenty twenty pure will be doing much more on this, particularly as we try to stagger away from other malaria n- debate, not malaria malaria debates as well green on the screen up sixty up more earlier twenty five thousand six eighty two possibly it's a horrific market were down four point seven percent from October highs and the Dow Jones industrial. Average. It's a bear market. There's no question about that yields a little bit higher yields in the last number of minutes of the morning carnage. This is Bloomberg. Let's get some national headlines now with Michael Barr. Michael, thank you very much bald. I get Tom attorney general William bar is agreed to testify to the House Judiciary committee on special counsel, Robert Mueller's report, that's according to committee chairmen Jerrold Nadler who says though bar wouldn't commit to releasing the full Muller report on President Donald Trump and Russian election meddling, the house intelligence committee chairman Adam Schiff predicted that Muller would eventually testify before congress. Donald Trump junior said that he would not rule out running for office himself one day and expressed happiness and relief about how Robert Muller's investigation ended. The president's oldest son spoke with Kevin cirilli on Bloomberg radio sound on mainstream media, or so many of the Democrats just taking this and running with it because they could get away with saying it when in fact, there was no real basis for it is pretty amazing. But again, not shocking and what's going on. And what we've seen over the last two years. President Trump is threatening to. Close the southern border in a tweet this morning. The president says Mexico is doing nothing to help. Stop the flow of illegal immigrants to our country. Education secretary Betsy DeVos is heading back to Capitol Hill today for another round of questioning concerning the White House plan to.

president Bloomberg President Trump max Niessen Paul Sweeney Michael Bloomberg Tom Keene congress America ACA Bloomberg radio Donald Trump Lululemon Allison Williams Robert Muller Karen
"paul sweeney" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:35 min | 3 years ago

"paul sweeney" Discussed on Bloomberg Radio New York

"A blue. Bloomberg business flash. Bloomberg markets continues now with Paul Sweeney and Lisa Abramowicz. Greg jarrett. Thank you so much despite a slew of earnings reports, including those good numbers at GM relatively calm. Trading market today not much going on. Let's see bending these going on in the world of small caps with Bloomberg stocks editor Dave Wilson is also a contributor to Bloomberg radio and television. Well, Paul you're seeing a bit more of a decline among shares of smaller companies, then you are among larger ones when you consider. The Russell two thousand index is down a quarter of a percent the S and P five hundred only lower by a tenth of percent. The russell. Steepest decline belongs to Arlo technologies whose ticker is its first name A R L O. These smartphone maker has tumbled more than forty three percent. First quarter. Forecasts were far below the average analyst estimates. In a Bloomberg survey Calix, ticker C, A L X has lost almost twenty six percent. The software makers fourth quarter revenue and first quarter sales forecast came up short of projections and container store group, ticker T. C S has fallen about twenty four and a half percent. The retailer's earnings and sales for the fiscal third quarter where lower than estimates. The russel's. Biggest game belongs to macro gen-x, ticker MGN. The drug developer is sort of one hundred and thirty three percent. Started results showed a proposed breast cancer treatment met the primary goal of the research and protease stasis therapeutic sticker PTI has gained sixteen percent developer of cystic fibrosis treatments. The chief commercial officer of Al-Anon pharmaceuticals chief financial officer John's therapeutics to its board. Dave Wilson, Bloomberg stocks editor and contributor to Bloomberg television and radio. Thank you so much for being with us. Cheryl motor shares up about one and a half percent after they beat earnings per share expectations earlier this morning for the full year. Definitely a positive reading. But there are some potential headwinds here. Joining us now to talk about it David Welsh Detroit bureau chief for Bloomberg. So let's talk first about what General Motors. Stay right. A lot of trucks Nesher vis they're making good money because they're selling expensive vehicles. They hit actually record average sale price of thirty six thousand dollars. And that tells you they're doing more expensive stuff, and that's where they make their money. They're also pulling back on things like compact cars that sell for lower prices often lose money. That's a good news. They also do good jobless cutting costs and being pretty disciplined in the quarter..

Bloomberg Bloomberg radio Bloomberg television Paul Sweeney Dave Wilson Greg jarrett editor developer chief commercial officer Arlo technologies GM chief financial officer Lisa Abramowicz bureau chief General Motors analyst russel David Welsh Cheryl motor John
"paul sweeney" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:34 min | 3 years ago

"paul sweeney" Discussed on WAFS Biz 1190

"We're in the world is the financial news you need. Do you think that the Bank of England will actually follow through where is the business and market information? That drives your success. This game of chicken is gonna end. And where would you find information on political events around the globe? Is this going to have an impact on the Chinese economy anywhere? And everywhere you are is America energy independent. Bloomberg radio. The Bloomberg business. App and bloombergradio dot com. Bloomberg the world is listening ever wonder why wedding so expensive. Brexit was really all about China. Did you know that an economics professor uses musicals to illustrate his lectures? Bloomberg benchmark podcast is about all that much. More. Join hosts Dan moss Kate Smith in Scotland a Wiki Johnson feed dive into the top stories that drives the global economy. Find it on the Bloomberg terminal Bloomberg dot com. Sound and whatever app you perfect your Browns. You'll see the podcast. Markets in focus every business day. Paul sweeney. Under some sectors that you want to have more or less exposure to the hind engine games. Wall Street actually US market looks relatively safe from Bloomberg intelligence, Bloomberg influential newsmaker McCarthy joins us right now would Paul Sweeney and Lisa Abramowicz. Listen today on Bloomberg. Or subscribe on apple podcasts. Your morning news briefing from the daybreak team.

Bloomberg Paul sweeney Browns Bank of England newsmaker McCarthy apple professor America Dan moss Kate Smith Brexit Scotland China Lisa Abramowicz
AmEx's forex unit being probed by FBI over pricing practices

Bloomberg Businessweek

00:28 sec | 4 years ago

AmEx's forex unit being probed by FBI over pricing practices

"The company. We should also also circle back on American Express company is down this shares down after a reported the Wall Street Journal, the FBI investing pricing practices at its foreign exchange. Operations shares dropped about one point three percent after that report came out just earlier this afternoon. So clearly that's going to be one to watch as well. And when you see those sorts of stories, those those are not things that go away quickly. No, not

Twitter Jack Dorsey Sheryl Sandberg SNP Facebook Carol Massar Charlie Pellett Kelly Jason Perella Weinberg United States Senate Wall Street Journal American Express Kraft Heinz Ceo Paul Sweeney Bell FBI CEO
Heineken seals $3.1 billion tie-up with China Resources Beer, shares surge

Bloomberg Daybreak: Asia

05:20 min | 4 years ago

Heineken seals $3.1 billion tie-up with China Resources Beer, shares surge

"Inherent Singapore Juliette saly and I'm Doug krizner at Bloomberg, world headquarters in New, York so the action now. Up and running, in Shanghai and in the opening moments that composite. Index is down about two tenths of one percent after a drop of more than two percent in the previous session in Hong Kong meantime hang. Sang holding onto a gain of about two tenths of one percent was a lot of weakness in the market in Hong Kong. As well we'll take a deeper dive into markets momentarily right now this hour's top business stories we'll come secretary Wilbur Ross is signaling more trade pain for China. Unless Beijing changes it system he told, Fox News the administration will make it It harder to China, to continue what. He called it bad practices then it would be to reform but foreign minister. One year says the, tariffs also hurt American companies The US is trying to, put pressure on China but we don't think such an approach will work China is ready to. Talk to anyone. Who is ready to talk to us including the US. But this kind of dialogue has to take place on the basis, of mutual, respect and equality China has repeated it. Will never surrender to US, trade threat free time trade tensions aren't defecting the outlook on China for two money managers Tom mossy and Nuno Fernandez oversee trilogy, global advisors. This firm has one point two, billion in its emerging. Wealth fund mess as. Mossy and Fernandez believe most attractive investment opportunities in developing nations remain in Asia especially China, they mentioned, two, companies in particular one selling luxury spirits the other expensive toothpaste China has been increasing consumption of, high end products given rising wages, there along with government healthcare investments Nick I news is saying shop Will stop making, household appliances in Japan and fiscal twenty. Nineteen shop will end l. c. d. TV production at its strategic pants and. Stop making refrigerators in Asaka says the production will, move to its Hon Hai facilities in Thailand and. Elsewhere shops domestic facilities will concentrate on high value electronic components now she has a down almost, two percent but remember they rise about twelve percent of the prior to sessions on the back. Of that news. Of have preferred share buyback Heineken is pardoning with China. Resources beer holdings Heineken will pay three point one billion and four, that the, company will have a twenty rather forty. Percent stake in c. r., h. beer this is a joint venture with China Resources Bloomberg's Emma O'Brien tells us China's beer market is seeing a lot more, competition a. Lot of analysts do say that, it may have already. Paid here that the. Market is evolving which will be a challenge for Heineken there is a push towards more, premium brands, I, drink is becoming more sufficient Dicator so that will be something that Heineken we'll have to take on with this investment last year China Resources said it was looking to acquire brewers to keep its market lead in China China's struggling a group is said. To be examining options Fritz Avalon aircraft, leasing unit. We're told films backed by Hong Kong tycoons, Laker Shing and Henry Chang have held talks about buying a stake or some of evidence aircraft Avalon had a book value. Of. More than seven billion dollars at, the end. Of last year and has, the potential to be among h and as biggest disposals well here in the US CBS said that its second. Quarter net income rose boost by boosted by. Higher fees from its network affiliates and its subscribers this report comes as CBS. Is investigating CEO les Moonves says over sexual misconduct claims a writer for the Hollywood reporter said there, may be another moon vez story coming. Out soon moon vez surprisingly participated in the. Earnings call after the news bloomber Paul, Sweeney tells us this could be a strong sign moon vez is still confident. In his position at the company here's. One of the strongest presences in Hollywood relationships with everyone. But so is Harvey Weinstein CO the very strong company as opposed to the Weinstein company. Which was a much smaller entity so it remains to. Be seen but you know. At least at this stage everything seems to be status quo it's business as usual well to stock in CBS was down nearly two percent in late US trading whereabout thirty five past the hour right now let's get you caught up on where we stand in markets the offshore Chinese Yuan slightly a. Higher, but not by much where it's six eighty seven seventy three we broke that six eighty eight level during the New York session in terms of. The equity market Shanghai composite right now is. Holding onto a gain of about one. Tenth of one percent after selling down, more than two percent yesterday in Hong Kong meantime hang sang is up less than one tenth of one percent it too Dropped about two percent in the. Previous session in Seoul the kospi is a head one. Half of one percent and in Sydney the ASX two hundred, is better by about three tenths of one percent Nikkei two twenty-five benefiting from a slight pullback in the Japanese yen against. The dollar we're at one eleven. Seventy four talking, earlier about to be OJ intervention in the JJ be market. Nikkei right now is. Ahead, by three tenths of one percent and the US ten year treasury in the Tokyo session a smidgen under three percent. In yield terms Juliette s Magen will the first inspection of. The cases that have come back from, North Korea.

China United States Hong Kong China Resources China Resources Bloomberg Shanghai CBS Heineken Beijing Wilbur Ross Juliette Saly Hollywood York Bloomberg Secretary Juliette S Magen Fox News ASX Asaka Nikkei
Amazon shares hit record high as profit tops $2 billion for first time

Bloomberg Markets

01:04 min | 4 years ago

Amazon shares hit record high as profit tops $2 billion for first time

"Down. But, is it headed for serious downturn we'll talk about that also look at these. Social media behemoth's from particular Facebook and Twitter which are feeling some pain for. Right now let's head over to, Greg chair from Bloomberg business, flash Greg stocks have been drifting while the dollar dips and treasuries gain as news of a surge, in US economic, growth contends with disappointing quarterly results from Exxon Mobil and, Twitter Exxon's down three point six percent. Twitter's down eighteen percent meanwhile Amazon shares hit a record is profit tops two billion dollars for the first time Bloomberg's Paul Sweeney says looking forward Amazon is well position yeah I think what the takeaways for investors are is The Amazon web services cloud business is really profit driver, for this company that growing advertising business is. A profit driver for this company and so I think. Investors are recognizing that there are a lot of levers here that this company can pull Amazon is up two percent we check the markets every fifteen minutes throughout the trading day Bloomberg radio s., p. five hundred is down just. Less, than a tenth of a percent now down, to Dow's up attempt to percent up. Twenty, and the NASDAQ's, down a, quarter.

Bloomberg Business Twitter Amazon Bloomberg Exxon Mobil Greg Chair Exxon Facebook United States DOW Paul Sweeney Two Billion Dollars Eighteen Percent Fifteen Minutes Six Percent Two Percent