17 Burst results for "Paul Sweetie"
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Stock index futures on the rise this morning extending their gains treasuries rallying as inflation in the world's largest economy fell sharper than expected, eating pressure on the Federal Reserve's tightening campaign, we checked the markets every 15 minutes throughout the trading day. On Bloomberg, right now the S&P 500 up 130 points, Dow futures are up 819 and NASDAQ futures have 488. Again, those are S&P futures that were up 129 and the Dax in Germany is up 2.6%, ten year treasury up one in 9 30 seconds. 3.92% and the yield on the two year 4.38%. Nymex crude oil, little change at $85 86 cents a barrel. Comb school at 1.7% or $28 30 cents at 1742 ten ounce. The Euro 1.0127 against the dollar British pound 1.1605, and the yen at one 43.71, and looking at Bitcoin up more than 10% at $17,360. And that's a Bloomberg business flash Tom and Paul. Thanks so much. Adeline just out. Paul Sweeney translating for Tom Keane. Alameda research is winding down trading FTX CEO tweets. This goes back 5 years, Alameda research is a quantitative trading firm that's about, yeah, it's a Wikipedia. It's in Hong Kong, I guess. This thing is unraveling quickly. I have no idea. Paul swayne has no idea. No. Eddie van der waal, thank you. He has an idea and he joins us right now. Not in the specifics of the moment. And thank you so much for taking time off to London desk to join with us this morning. Extend this stuff, including a headline just out from Alameda research's winding down trading, et cetera. Extend that out to what it means for the rest of the Bitcoin blockchain, big bank market. How is your world today, Edward van der Walt? Absolutely Tom. You know what? I think, you know, we talked about this being potentially some sort of Lehman moment. I think we've got to be careful with that language because the contagion outside of the crypto space is fairly limited, but there is definitely other firms that we are finding out today that had exposure to FTX, right? The industry is becoming more and more intertwined. And that means that other funds suddenly cut either firm suddenly, can't get access to their money. And they can't get pay their clients and inclines panic and they start withdrawing. It's a mini bank run, isn't it? It's a bank run on the cricket currency. So Sequoia is visible and iconic Paul, you know more about the wonderful people from Menlo Park. And I do, okay, great. But are the banks are listeners know in London in New York worldwide Hong Kong are financial institutions exposed to this liquidity moment. Right, I don't think that they are yet, right? I don't think that this is becoming systemic in that way. But there is something brand new that we saw yesterday. In cryptocurrencies and invited markets, we saw risk appetite broadly, souring as a result purely of a cryptocurrency sell off. Now previously, there had been a correlation between stock prices and cryptocurrency prices, but that's because they were all driven by failed liquidity. This was the first time really that I looked at the wider markets and I saw the NASDAQ fall because cryptocurrencies fell. So they are becoming more integrated into our financial systems, and I think for that, for that reason, the SEC and other and other institutions will start looking very closely at. The triple average stock cash ETF does not own it. We do have some doge. Yeah, you wrote that down. All right, so Eddie, again, this is a market. This is an asset class. Let's call it crypto that's been searching. I think for some levels of legitimacy in some people's minds, this asset class is take a big step backward yesterday. It's always two steps forward, three steps back in the cryptocurrency space, right? They keep every few years after we have that massive boom when we get the bust we get consolidation. It's normal, right? It's a new industry. It is still the wild west, but it is becoming more, it's becoming it's becoming more mature. That's certainly true, because now you can take, you're going to hedge, you can hate your cryptocurrency exposure on the futures exchange. You couldn't do that three years ago. I can only talk to you with a beverage in my hand. Eddie, are you kidding me? We've gone from 65,000. I take your point. There's stability like recently at 20,000. And then something happens. Seriously, are there more, you know, you and Ed Robinson and all world class Bitcoin coverage? Do you guys just assume there's another something happens out there? Look, Tom, I'm really glad you don't have any exposure in that image fund of yours. If you don't like volatility because this is going to be a volatile space for the time being and that's not the stability that I'm talking about. What I'm talking about is a mature industry that has financial levers at its disposal, futures contracts, ETFs, you know, you can take exposure to the price without holding physical Bitcoin. You couldn't do that a few years ago. That's a financialization of it, but do you believe there's an underlying in Bitcoin tether and doge? You know, I think there's still a lot of questions to be asked about the use cases and whether that Bitcoin doge axis is the future of cryptocurrencies or whether we go that Ethereum path. I think that's still another whole debate, but we're not having that debate right now because everybody's distracted by the volatility. And I think that is damaging for cryptocurrency. You should come back in the 10 o'clock hour for a smarter conversation. Thank you so much. Paul sweetie, you've been patient to sit there while I ramble on with my questions, but I think a lot of our listeners are like me, where they're like, wait, do I own this? Exactly. Is this my John Tucker just wrote? Is this in my two O one K? Exactly. So Eddie brings up a great point, which is regulation. You know, when you get a fundamental breakdown in a market like this, IE an exchange, you know, effectively goes out of business, think about NASDAQ or the New York Stock Exchange, just for example, that has to get the attention of regulators. And then a question is, who's going to regulate this stuff? Is it Gary gensler? Is it a market? Is it an exchange? We use these words. I mean, think of these. I don't know. If the Art Institute in Chicago, they have the commodity exchange from a hundred years ago where they actually traded wheat. That's an exchange. That's an exchange. With all your money. And I'd say this folks with great respect for how the 10 o'clock Bloomberg radio hours really led on this is whatever's going under right now in exchange. I think it is. I mean, I think you had real capital being traded on a daily basis. I was going to say real assets are not real assets. I'm not sure exactly how you think about it. But financial instruments were being traded on this platform and to me that feels like an exchange and but it's been one that has not been obviously regulated like equity exchanges or commodity exchanges for that matter. Has there been a met Miller sighting? Yes, he made it back from the other side of the planet. He was here yesterday in good spirits and so he is back. He survived. We'll do a smarter conversation and 10 o'clock arrhythmic Miller and Paul Sweeney you're going to want to hear that across all of his country. Here's what you need to know. SPX is basically 36% in the last 18 minutes or so. We're up we're up 3.6%. 137 SPX points a Dow up 878 futures points. CPI less. We got to get the markets open. What is dedication? The thing that drives me
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Streaming on YouTube, happy Halloween as we get ready to wrap up the last training day in October. My co host has done a Vic is off today, but joining us is the host of Bloomberg surveillance and Bloomberg markets, not other than Paul sweetie, hi Paul. Kyle, how are you? Looking forward to it. Boy, it's going to be a busy week. I'm just looking at my eco screen and just day after day, we've got some big economic data. We got some interest rate stuff as well. I think we have to pay attention to that Wednesday. Something called an FOMC meeting? Yes. Let's do that. Plus earnings. I forget about that. Oh my gosh, right? It's still continuing. All right, we're going to have more on the trade in just a moment. We're also going to talk about the midterm elections in the U.S. just about a week away. So why do Democrats hate Elon Musk when he actually Paul might be their savior? It's a good question. Yeah, exactly. And if he gets back on Twitter, oh boy. It's a new era that we're living in when it comes to Twitter. Speaking of Twitter, what are the similarities between Elon's acquisition and Steve Jobs going back to a failing Apple, our Brad stone weighing in on this. And then we're going to talk how the end to affirmative action would crush the diversity talent pipeline, which I feel like every time we talk to anybody who runs an organization, it's all about diversity and improving that pipeline. Yeah, exactly right. And here in academia and in business, it is a continues to be a key issue. All right, we're going to get to all of that first up though. Let's check on that trading day and let's check in with Charlie pellet who's dressed up like a warlock? No, Top Gun guy, a crayon, a pumpkin, did all of that for sales this morning, but today just dressed up like a regular guy. Here's what's going on. The Dow. The S&P NES stack all declining S&P down 20 drop there of 5 tenths of 1% we had the Dow down 63 a decline there of two tenths
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"99 one studios world in national news. Paul sweetie the death toll is rising from new Israeli air strikes into the Gaza Strip today, the Palestinian health ministry says at least 7 people have been killed, including a 5 year old girl and another 40 wounded, the Islamic Jihad militant group says one of its Gaza commanders is among the dead, Israel declared a special operation on its home front today after days of tensions following the arrest of a senior militant in the occupied West Bank. Taiwan says 49 Chinese warplanes cross the midline of the Taiwan strait today, that is the most since the island's defense ministry started making those numbers public in 2020. Secretary of State Antony Blinken is monitoring tensions after House speaker Nancy Pelosi stop in Taiwan this week. There is no justification. For this extreme, disproportionate and escalatory military response. Secretary of State blinken spoke from Cambodia where both he and Russian foreign minister Sergei Lavrov indicated they are ready to negotiate over jailed Americans, Brittany griner and Paul Whelan. A bipartisan group of former EPA administrators is endorsing Senate Democrats tax and climate Bill. They put out a statement today calling it the most significant piece of climate legislation in U.S. history, Republicans are lining up against it. Here's Lindsey Graham of South Carolina. One thing I can tell you about this bill, it will not lower inflation. The same people who said the American rescue plan would rescue have thrown you back into the water. Republican Lindsey Graham, Democrats hope to pass the bill without GOP votes this weekend. And The White House says president and First Lady Biden will travel to eastern Kentucky on Monday to meet with families and survey the recovery from this week's deadly flooding
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Quick take. This is a Bloomberg business flash. Josh, keep on climbing. It's all about corporate earnings, which are rolling in, and we had some economic data that came in better than expected. Treasuries are down after hawkish comments from fed officials made it apparent a pivot in policy is unlikely. The S&P 500 is up one and a quarter percent of 51, the Dow is up over 1%, up 338, and the NASDAQ's up 2.1% up 262. Out of the ten years down 9 30 seconds a yield 2.78%. What's tax intermediate courage down two and a half percent at 92 ten a barrel comics gold is down 9 tenths of a percent of 1773, 80 and ounce. The dollar yen one 34 24, the Euro, a dollar O one 40 to British pound, a dollar 21 28. OPEC plus responded to months of diplomatic efforts from U.S. president Joe Biden with one of the smallest. Oil production increases in history, cartel says it'll add only a 100,000 barrels a day of oil in September. Not even enough to power Matt Miller's new vehicle. That's a Bloomberg business flash Bloomberg markets continue that with the aforementioned Matt Miller and Paul sweetie. I'm excited to get my truck Chevy Silverado. 1500 ZR2 in glacier blue, glacier blue. And it's got a 6.2 liter naturally aspirated V8, as opposed to a naturally aspirated. As opposed to a turbo or a supercharger. Naturally. Just motor and I can't wait, but I'm guessing that I'll do 13 miles a gallon. I think that's what I'll get. Yeah. And plus you can do this in Westchester. The official figures are like 17. So you need that in case you've got to do who knows when I need to do some construction work here. Oh, sure. You know? I might want to pick up a court of wood, go out to the ranch. I'm sure. You know, I might want to put my I do want to put my motorcycle in the back. All right, so I'm going to talk to a professional now. Peter silver glade, vice chairman, U.S. tech leader at Deloitte joins us what's that? Peter, seeing right on my screen there, but maybe not, I will check. Paul, we've got it both both to they're both they were both hanging out with Jesus. Right, they were both Peter and Paul. What do you call those guys again? Yeah. All right, we got that. All right, Paul silver, great. Sorry about that, Paul, vice chairman, U.S. tech leader for Deloitte. Hey Paul, talk to us about it. I know you guys do a lot of work on kind of technology, trends in technology. I don't know, it just seems like over the last two and a half years, I'm using my phone for more and more stuff banking, for example. I'm like the Wiz now when it comes to doing my personal banking on the phone, what are you guys finding out when you look at that stuff at Deloitte? Yeah, thanks, Paul and Matt. We're finding that you are not alone. Everybody is really trying to kind of dominate master their digital life banking health, home, everything is, if it feels like you are seeing and interacting with tech a lot, you are. We would say like in the last three years that we've been doing this report, which is really all during the kind of just before COVID and all through the COVID time, we like to look at COVID as being kind of like a time Zine that a time machine that thrust us like tens of years into the future. So a lot of these things existed. And now they exist huge. What we found is in the home, people are still dealing with an awful lot of technology. We're down slightly from 25 different tech things to 22 things. We divide those into technology, smartphone, laptops, things like that, and entertainment, smart TVs, wireless headphones, gaming, and smart home, smart technology is about the same at 11 this year versus last year, but entertainment home, those are the ones that took a slight decrease, which may be a suggesting people are starting to get comfortable with what they like and comfortable with what they don't like. So tech is here to stay and it's going to be growing, but I do think what our results have showed is that people are starting to really figure out how to interact with technology and working from home. Playing gaming, digital health and all those sorts of things. It does seem like there are some benefits here, especially I'm thinking about telemedicine and working from home. But in general, Paul, I don't think this tech is making my life any better or less busy. Am I in the minority there? Because I feel like I'm still, in fact, I feel like I'm busier now than I was before all this tech. And I haven't seen like the killer app that can do all my work for me. I'm still entering data. The apps aren't talking to each other. And I'm spending more money on this stuff, is it going to make life better eventually? Well, you said two things. You said better and less busy. So I would argue yes better. I would say don't count on less busy. And so I've been in and around the tech business about 25 years and I remember way back when the fax machine came out and everybody thought that would be great because you get your mail three days faster. They thought that word processing would be great because you wouldn't have to use correction tape and things like that. Obviously none of that made us less busy. In fact, it just made what the quality of what good was that much better. So I think we're not going to get less busy. I think we're all going to be kind of constantly on and constantly engaged. But I think your life will be better, right? And so even with virtual visits, over 50% of the people had a virtual visit within the last year, prior to the pandemic, I think that was in the 20% and people would say that they actually like their virtual visit. Almost the same amount as they like their in person visits. Although there are certain things if it was a new ailment or something like that, you obviously would like to doctor to get kind of hands on you or something like that. But the convenience of being able to just dial in not have to travel there and not have to sit in a waiting room with other stick of people. That was considered better. So I would argue better, I would argue we're in a really good time right now and
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Vince on he can talk any currency any commodity any asset and he's traded it at some point during his career We're going to talk to him But first let's go to Nathan Hager and get a Bloomberg business naked A lot of investors to chew on right now Paul sweetie We had the World Bank cut its global growth forecast for the rest of this year By three tenths percent after an earlier drop in April we also got a warning from Goldman Sachs strategists that rising equity yields could be a continued headwind for equity valuations but you look at the tenure right now it's actually the yield there is falling now below 3% You got stocks moving higher The S&P up 11 points to gain a three tenths percent the Dow is higher by 42 points for a game of one tenth of 1% The tech heavy NASDAQ leading the games up a half percent up 63 points All eyes on next week's policy meeting from the Federal Reserve markets all but totally pricing in two 50 basis point moves This month and next we spoke moments ago with Danielle dimartino booth CEO of quill intelligence she says watch for what fed chair Jay Powell and company signal for the months to come I think they had their eye on getting to that third 50 basis point rate hike in front of us in September and achieving that almost $100 billion a month run runoff rate for the balance sheet I think they're going to try and communicate that in this coming weeks meeting Man right now stocks as I mentioned are moving higher treasury yields moving lower the barrel and IMAX crude is at a $119 45 cents a gain of 8 tenths percent their comb ex gold up 6 tenths percent of $10 60 cents at 1854 30 announced the Euro is at 1.0704 against the dollar British pound 1.2580 the end one 32.44 That's a Bloomberg business flash Bloomberg markets continues Paul Sweeney and Matt Miller All right Nathan.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"It's all green for equities around the world U.S. stocks are on the rise after Beijing's latest moves to east COVID restrictions Sing a note of optimism in markets that have been rattled for weeks by inflation and rate height concerns we check the markets for you every 15 minutes during the trading day on Bloomberg S&P is up 54 points up 1.3% the Dow is up 320 points a gain of 1% there NASDAQ 100 higher by a 196 points up 1.6% ten year treasuries down 1730 seconds for a yield of 2.99% Nymex screws down three tenths percent or 33 cents at a $118 54 cents a barrel comic scored little change to the downside down 90 cents at 1849 30 announced The Euro 1.0707 against the dollar British pound 1.2545 the N is at one 31 .11 Carl icahn said that a proxy fight focused on the treatment of pregnant pigs at Kroger after he lost a similar battle with McDonald's last month the activist investor told shareholders of both companies to day that he is conceding the fight saying he expects the same outcome at Kroger as at McDonald's due to the grocery chains financial position That is a Bloomberg business flash on Nathan Hager back to Bloomberg markets Paul sweetie and Matt Miller Wild news there from Nathan Hager You know go figure All right we have Rosalind Matheson in our Bloomberg interactive broker studio today she's executive editor for international government for Bloomberg news based in London but we have are here in the states this week We found out in the last hour month that she is Australian from some little news What's the name of that town again rose It's a cold gun bungee Gone bungee It's an indigenous name Wow Go figure I mean I don't know One day me and Ross traveled to a remote town in Austria to interview the former head of the FBI James Comey together Really Was that were we in Austria We would Yeah That was awesome Yeah That was such a cool I mean you know he had just written a book and obviously it was like Comey versus Trump But he's an amazingly fascinating and also really tall dude Extremely tall Yeah Ross explained to us what's happening in London today folks who tell us we need to pay attention to a vote that's going on in parliament What's going on over there Well that's right So it seems like enough of his own lawmakers have had enough of him And so they've submitted letters calling for a leadership vote on his him leading the Tory party which of course means his leadership of the country as a whole that vote will happen in a couple of hours today It goes out It takes about two hours for it to happen I fall into a room one by one and cast their vote yeah or nay and then there's an outcome It looks like at this point he will probably win that vote because they need a 180 toy lawmakers to go against him but the question is what is the damage that's being done simply by having this vote happen in the first place And what is the margin by which he would presumably win this vote It could be quite tight and tighter than he would like And that suggests of course that the knives will be out for him even despite the outcome today potentially But the base case is that he wins right Because his own party is bringing this vote essentially and it's a system that I think a lot of Americans are unfamiliar with They have this committee 1922 It all seems so old and weird But what if they lose they're bringing on an election that they're sure then later to lose Well that is the risk also from this He might win and then he might decide to call an election to try and get a fresh mandate from the public or to get rid of some of these Tory rebels But how could he I mean they're experiencing inflation just like we are and they're doing very little about it just like we are I mean people are a lot of people are being driven into poverty by these high energy prices right Well exactly And all the polling shows that going to an election any time soon would be very self defeating for the Tories because of all the things that you mentioned particularly the state of the economy inflation the idea has not delivered on his promises to bring development to areas in northern England and so on He came in of course in a landslide win In 2019 with a very large majority for a British prime minister and that's all seemingly evaporated At this point But he may decide just to go that because he is a very charismatic politician He's a very charismatic campaign and maybe he thinks somehow if you can call an election and get out there he can somehow rally the faithful and get enough voters back For the Tories but it's a very big ask given what we're seeing at the moment in the polling All right let's switch gears Ros since we have you in studio want to cover broad range here Ukraine boy we're not going into our fourth month I guess over there in Ukraine Is there a consensus amongst the folks that really follow this closely how this might play out here Or is this just going to be a long long slog Well it certainly hitting that kind of grinding war of attrition which we would imagine could go on for an extended period You're seeing Russian troops make incremental gains and then get pushed back again and then further gains There's certainly holding some of the ground that they've.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Com This is Bloomberg markets All right coming up we're talking markets or talking global economics Alfonso paciello author of the macro compass and then we're talking WTI crude oil I just don't get it It just keeps moving higher but Fernando valley he gets it He's a senior oil animals for Bloomberg intelligence He's been doing this for decades But first let's go to Charlie pellet He's been doing it for decades Bloomberg business flash I thank you very much Paul sweetie Here's what's going on Let us begin with crude big story today West Texas intermediate crude up 1.8% one 1714 a barrel right now up two O 9 on WTI barrel of Brent one 25 O 8 Brent crude up by 2.8% stocks lower across the board with the Dow the S&P nez stank all in the red after last week's rally S&P begins the week with a 37 point loss down now by 9 tenths of 1% the Dow down 272 down 8 tenths and NASDAQ is down 101 drop there of 8 tenths of 1% Ten year yield 2.86% spot gold down $13 to 1841 a drop right now of 7 tenths of 1% Record inflation is accelerating in Europe That is intensifying the debate over just how quickly central banks will raise rates in response Eurozone consumer prices jumped 8.1% from a year earlier in May exceeding the 7.8% median estimate in a Bloomberg survey American consumer confidence dropped in May to the lowest since February underscoring the impact of decades high inflation on Americans economic views the conference board's index decreased a one O 6.4 from an upwardly revised one O 8.6 reading in April Lin Franco is director of economic indicators at the conference board She was our guest right here on Bloomberg markets When you look at shorter.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"He had the gun to his neck He did not point the gun at officers We're not looking to shoot people on a daily basis We're not looking to go out and get in a situation where we have to resort to deadly physical force We train our officers in deescalation Commissioner gram aglia told ABC this morning the shooting was racially motivated The alleged gunman is white And the community where the supermarket is located is predominantly blocked Finland announced that it would seek NATO membership after Russia's invasion of Ukraine Sweden's governing party also endorsed the idea of applying the join the alliance Swedish prime minister magdalena Anderson Russia's unprovoked invasion of Ukraine is not only illegal and indefensible It also undermines the European security order that Sweden builds its security on It comes as Ukrainian military officials say Russian forces have withdrawn from its second largest city kharkiv The Biden administration today released a housing supply action plan meant to help create thousands of affordable housing units in the next three years Biden officials were reward jurisdictions that have reformed zoning and land use policies with higher scores when they apply for certain federal grants Lie from the Bloomberg interactive broker studios This global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts more than a 120 countries I'm Michael Barr this is Bloomberg dump all Michael Barr thanks so much Paul sweetie how the theaters doing Are we getting back to the movie habit I don't see it No I think what I've heard most recently is a tendency maybe 60 to 70% of pre-pandemic levels We'll see Top Gun coming out May 27th Reviews Shockingly This is potentially a catalyst to kind of get the theater going a little bit more But again I think it's going to take a long time But that's by the new kind of movie Yeah I think what we're hearing from the Hollywood studios is they still think that they're experienced is the way to go for the big tentpole type movies Action And maybe everything else You think about the streaming or streaming and the theater or something different So they have to figure that out And Top Gun will be a very very big test to see how far back the theater going I've seen I think I've glanced I should say it too quick reviews of it In their rave reviews Yeah my 90s and the old Rotten Tomatoes People saying it's the best things in action movies sliced bread This weekend I looked at an old negative of charade which is Cary Grant and Audrey Hepburn Oh boy And I don't know why I would go to the movie theater the quality of the negative On the TV screen Thank you criterion Was just like I've never seen in my life Yeah So I don't get why people go other than popcorn and all that The whole community experience of a film there is that element to it But how strong is that element for different types of films That's what the theater operators and that's what the Hollywood studios are trying to They're still betting on it No question about it We're betting on a market churning here a little bit of red here SPX down 5 Dow down 57 points of VIC-20 eight point eight four is really something And it's interesting to see with all and there's been a lot of recalibration over the weekend of strategists to a more cautious view on the market and Bond people are just in shock We'll talk about that That's one of our themes here this week as well Paul strung in Tom keen please stay with us again The Dow and negative 70 This is Bloomberg good morning This is a Bloomberg progressive presents forest metaphors about bundling your home auto and other vehicles And hockey.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"O three 7 one against the dollar the N one 29.28 and yes still watching Bitcoin It is up more than 7% at $30,600 now Elon Musk causing chaos over his takeover bid for a Twitter first claiming his bid was on temporarily temporary hold and then maintaining he is still committed to the deal sending the social media giant into a tail spin shares are currently down about 11% right now That's a Bloomberg business flash Tom and Paul Karen thanks so much Paul sweetie and Tom keen in New York and we welcome all of you across this nation around the world in a particular welcome to those in the Middle East Joining us now is someone who is a sister so much on an understanding and my travels to Dubai of the greater Middle East in particularly the Persian Gulf Christopher Davidson is the scholar on UAE on Dubai and Abu Dhabi and of course is important to work from sheiks to sultanism statecraft and authority in Saudi Arabia and the UAE with the Henry Jackson society as an associate fellow Professor Davison thank you so so much for joining us here on the death of the leader of oil rich Abu Dhabi Shik Khalifa explained the importance of his passing today Well many thanks Tom and Paul for having me today Yes this is a very important day in many senses It's business as usual given that Shakespeare's younger half brother Muhammad bin Zayed The Crown prince of Abu Dhabi will fairly soon succeed in as ruler of Abu Dhabi but there are two important dynamic side by side here Of course is the oil rich the wealthiest of the 7.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"You And that's a Bloomberg business flash Tom and Paul Karen thanks so much Greatly appreciate it Paul sweetie and Tom keen And we're you know we're here I just want a note on a data screen with corn You move the decimal point So 800 is you move the decimal point over to $8 the bushel And I did it in inflation study today and it's not grim as it spends three or four times since time began where it was like $10 a bushel Inflation adjusted in today's dollars But just to see that number on the screen is a shock And I would suggest a kid from Maria to Ohio I mean Brian moynihan has got to be glued to the price of corn as well She'll do some Marietta alley basic here Yeah I'm fortress moynihan He doesn't get the love of diamond Should moynahan write a 44 page in the report by the way Well I think his answers to analysts will be about 44 pages today There's certainly a lot of questions about how Like what's the lead question How are consumers going to fare up if the economy gets worse I mean what else is there to talk about The things the thing is people are spending more And according to Bank of America's numbers they're spending more on travel and entertainment But what does that look like as rates start to rise There's a lot of questions about what that means for Bank of America The training business did really well again as we've seen for most of Wall Street this quarter I think the expectation was trading was going to be really challenged this first quarter And it's not as strong as it was last year but definitely better than expected Yeah way better than expected You look at the equities trading desk and you're looking at a record which is very interesting given the volatility usually we see clients step back in that kind of volatility But Bank of America says it's because of financing clients What does that say under the surface Bank of America is credit suite steps back from prime brokerage is really stepping up here And it's interesting because people were kind of worried about the buy side and the leverage they were taking off She's just so good at the jargon Yeah What is prime brokerage Brian brokerage is the beating heart of a trading desk It is the part of the bank that really services hedge funds family officers Yeah they worked out for Credit Suisse right It's a dangerous business sometimes I've got something for you The biggest Summer of 1990 I was an intern between my first and second year of business school at Merrill Lynch investment bank Liquid yield option notes lines Do you remember those times Zero coupon You say that I.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"In Arizona Samsung is opening up a fab but the problem is it's not going to be a leading note fab It's still going to be ten nanometer and above So for Apple to have leading node chips the chip that go into a smartphone have it manufactured in the U.S. it's going to take a long time but they can do it for other parts and that is the plan that let's not rely completely on the region but have that diversification in terms of where some of their other chips are made But it doesn't try to depend upon the U.S. for chip design Are our folks designing it Yeah so all your fabulous companies whether it's Nvidia AMD Qualcomm these are fabulous companies designing the chips manufacturing in Taiwan and China is assembling them and also there's one element of the supply chain in terms of equipment So that is being supplied by ASML or lamb research and those are again Europe and U.S. based companies that China needs Is there a movement within the tech industry broadly defined to in fact try to bring this stuff on the shore even if it takes a decade or more Yeah so that's where the chips act comes into play $52 billion at stake They're still trying to figure out how to hand out those subsidies because if you give them all to Intel inter will spend on CAPEX they're going to buy those equipments for the process node gap that they have with TSMC But that's not going to be enough You need to build that supply chain and that is where you need different parts of the supply chain to be moved to the U.S. or in close proximity whether it's Mexico or Canada And that's the hard part Because we still have just in the last week or two or three in China the omicron variant coming up and then shutting down Shanghai for example in other parts is are we seeing that in the when you talk to these folks are we seeing that now in the supply chain There is a risk but at the same time what they've done well is keep the factories running So we haven't seen that kind of shutdown where there is no production at all The other thing to keep in mind is the gap in the cost right So if these companies were to move the production onshore the gross margin is going to take a big hit That's the one reason why they moved to Asia to begin with because of the lower cost So it's a double whammy All right man did good good stuff as always talking supply chain and microchips That's Mandy seeing Bloomberg intelligence senior technology analyst Come down next the confidence dent in Europe favors capital spending with dividends on watch You're listening to Bloomberg intelligence on Bloomberg radio providing in depth research and data on 2000 companies and 130 industries You can access Bloomberg intelligence via BI go on the terminal I'll Paul sweetie He's 13 minutes.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Quick tape This is a Bloomberg business flash Stocks are retreating as traders struggle to evaluate the risk of geopolitical tension in Ukraine and the impact of mounting inflation pressures on Central Bank policy will hear the meeting minutes a little bit later today right now the S&P is down 7 tenths of a percent down 30 the Dow is also down 7 tenths of a percent down 237 and the NASDAQ is down over 1% down a 146 to ten years up to 30 seconds the yield is over 2% West Texas intermediate crude continues to climb It's up over rose about 2.6% At 94 44 a barrel coming shows up four tenths of a percent at 1863 80 an ounce the dollar Yan one 15 52 the Euro of dollar 1361 the British found that all 35 73 And now I have some serious news for you Take the children out of the room please Shortage of avocados is showing up the supply chain after suspension of imports from Mexico just days ago A source who didn't want to be named because this is serious stuff that involves commercial arrangements told us Mexico which accounts for about 80% of the U.S. market is scrambling to fix the band Meanwhile in the U.S. time is of the essence of supplies run out The market has 57 million pounds of avocados which translates to just a week's worth of inventory I went to Costco yesterday gentlemen to get my guacamole supplies and was stunned It just how much a bag of avocados are going for Delivered $10 89 cents for 5 Hass avocados Luckily I have a stash That's a Bloomberg business flash Bloomberg markets continue Dude Paul sweetie We're seeing these supply chain shortages hit everyone I just went to Chick-fil-A this morning And thank you for the biscuit to pick up some chicken biscuits for me and Paul And yes they're delicious by the way And I saw sign on the counter that said dear customers we're sorry due to supply chain shortages some sauces won't be available Now that's yeah We can't have it A sweet and sour shortage Greg Jarrett thank you very much for that Bloomberg business flash And avocados you know who knew All right let's talk I want to talk electric vehicles Because I want to talk internal combustion vehicles but it's the same discussion Same discussion Conor said economists for Bloomberg opinion joins us Conor you've got a piece out here saying the automakers have an incentive obviously for keeping new car prices high used car prices high because they need the profits to fund this whole pivot towards electric What's going on out there You're basically saying they're purposely holding back production to pad margins They say that they're kind of in a spot that they don't mind where again they have to invest billions of dollars in this EV transition And they also have to show investors near term profitability They're trying to do both And so you see the prices are really high inventories are really low They're saying that their production won't meaningfully impact prices and they expect prices to remain high because that's going to fund the profits that keeps this thing going So in a way your column actually made me feel better about being an old dodgy EV holdout Because I am waiting for General Motors to release a new Sierra the AT four X I need the 6.2 liter naturally aspirated V8 And I felt guilty about that until I read your column call Connor because what I realized is I'm paying a high price for that big inch internal combustion engine And I am subsidizing their electric vehicle investment with that That's a really good way I've never thought of it that way but that's a good point So now anyone who really wants their gas guzzler can say hey look I'm paying to your ED So there's no way that we'd be building these things unless people like they were going out and doing our patriotic duty keeping the old stuff going Connor but the automakers had the chips Wouldn't they crank up production back up to 16 17 million star Yeah this is my main question was is selling fewer vehicles at higher prices more profitable than selling more vehicles at lower prices Right And that gets to the whole discussion about what does demand for gasoline power vehicles look like in 2023 2024 We know that right now we've got a huge shortage And if you just pump out vehicles for 6 months they're all going to sell at high prices But it's an industry with a lot of its capital incentives long lead times and if Stevie's ramped up That's coming out of somewhere And so it's kind of a tricky situation Kind of like oil oil product producers where they kind of need the supply low because they're really worried about a glut on the market as demand falls off over time A buddy of mine runs a bunch of dealerships and he used to say he'd have a couple hundred vehicles and inventory but he says those days are over That's not how they're gonna run the dealerships going forward Is this kind of a new normal where they're gonna have a lower inventories Maybe lower production I'm not sure how that works Yeah it's interesting because we're seeing the same thing in the housing market where home builders are very happy with kind of the low inventory high profit margin situation It's sort of like well we got caught on two of the inventory but we're making it up on price and margin So they're kind of rolling with it for now and investors are sort of not sure valuations are lower because they're not sure if margins are going to mean revert But that's what they're selling in terms of a good thing for investors right now Yeah my wife is looking for a BMW X 5 X drive 45 E which is their new hybrid SUV I messaged my inside guy at BMW and said do you have an insight and BMW Yes can you source one of these for me at a dealership in the states And he said we have one in California There's one in San Luis Obispo Ford actually called out dealers that were selling at inflated prices above MSRP and they sort of those dealers aren't going to get into our going forward So I hope they're true to their word Because if you look for for example a Ford F one 50 raptor Baja racing truck or if you look for the Mustang Shelby Mustang GT 500 which is the supercharged 5.2 liter 760 horsepower monster You can't find them without 10,015 1020 $1000 additions to the price tag They call it like added dealer something profit margin Yeah It's unbelievable I always wonder like if they're doing that why can't these producers have their own dealerships Right and that's probably the whole point with the online sales and the big fight about that So that's probably going to be a contentious fight going forward as dealers as Tesla and rivian can sell online than why can't Ford and GM You make a great point about Tesla and your column as well Elon Musk basically said yeah we're not working on the cheap car for every man right now Because we're making too much money with the expensive cars for rich people There's got to be some outcry there at least Not that the model three is that expensive but they are making huge margins on all their products Right I think right now because semiconductors are in short supply They can incredibly say sorry this is really just a situation where we're put upon it We'll put in But if semiconductor inventory is normalized then maybe there won't be those excuses and there will be more of a legitimate outcry and crackdown on windfall profits or whatever you want to call it.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"World powers have started 1/4 round of high level talks aimed at bringing the United States back into a landmark nuclear deal with Iran. Both sides suggested a resolution was possible. But major stumbling blocks remain as delegates resumed their discussions in Vienna today live from the Bloomberg Interactive Brokers Studios. This is global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists. Analysts more than 120 countries, Michael Barr, and this is Bloomberg. Tom, Paul. Michael Byron. Thanks so much greatly appreciate that, Paul Sweetie, I think we've got to talk about the elephant in the room, which is the shift today to NASDAQ out performance where we go back to growth Penis because we're not going to see a normalization, the economy and normalization of Fed policy. Which benefits value and cyclical. I mean, that's that's the strategy reports the research reports We're gonna see coming out Monday. Yeah, that's exactly right, Tom. It's a good point, because we've seen those cyclical names. That rotation trade that's been working so well in these markets really, since it's call it September of last year's people. Bet on this reopening on debt's been such a great trade for so many investors here and and actually, some of the big tech names Tom the Amazons. The apples of the world that have been the stalwarts of this market really over the last dozen years or so they've actually performed a little bit this year. But again Ah lot of folks we had somebody on from Genesis yesterday, saying Nope, We're sticking with those big names. Growth will come back to the fore. They don't think that that rotation trade has the legs. Not necessarily. So that's kind of where I think people are trying to trying to figure out How long do I stick with some of these cyclical names with it? Whether it's the financials or the energy names or the industrials that have been such a really nice trade here on this, reopening the limit of push and pull their I don't have any wisdom on the two year yield. It's been trending certainly above 0.15%. And, you know, plunges the right word. It plunges back to where it was middle of March. Maybe early April. We get back to 0.1369 all you need, you know, folks, That's not the The gloom of 0.10 that we saw in February of this year, I should say, but that's one of the tea leaves were watching here. Green on the screen with the Dow up 71 points of Vicks comes in even more 18. 0.8 truly.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Several strategists say the recent explosion of speculative buying will not derail the bull market in equities. Brian Levin, Invesco Capital Market strategist, tells Bloomberg. Please remember the red it moves we have seen are not typical. I just remind investors not to complete it with what's going on in the broader market. I think there's a sense from investors when they see those types of moves. That none of this makes sense that all of it is too euphoric that it's all too frothy. And that's not the case in large parts of the market. Let's look where we are Now the S and P is up a half percent of 20. The Dow's up 4/10 of a percent of 114. The NASDAQ 7 8/10 of a percent of 107 10 year is down to 30 seconds with a yield of 1.7% West Texas Intermediate crude is up one half of 1% of 50 to 46 a barrel comics gold is up there. 9/10 of a percent 18 67 50 announced the dollar yen one of 4 95 the euros a dollar 2094 on the British found a dollar 36 76. Silver As you've been hearing broke about, $30 announces the precious metal took center stage in the retail investor frenzy right now. Silvers at 29 35 Announce of 8.8%. That is a Bloomberg business Flash. Bloomberg markets is underway now Bonnie Quinn and Paul Sweetie No, thanks to you, Greg Jeras. Well, a lot going on in markets this week. A lot of tension coming into the market at the beginning of the week, But we are seeing equity indices, rally and obviously big tech earnings And so on this week, too, But Dave Wilson joins.
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Take this. He's Bloomberg Radio. This. He's Bloomberg markets with Barney Quinn and Paul Sweetie, How do you kind of you the volatility in the marketplace here? We haven't completely different climate strategy companies across the board across industries, really trying to shore up their balance sheets. Very, very disturbing Dynamics at work breaking market news and inside from Bloomberg experts showing 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 get home prices go. It's the uncertainty. I think that is really good. Being everyone. He's Bloomberg markets, with Bonnie Quinn and polls sweetie on Bloomberg Radio. Coming up. In just a moment, We're gonna check into the press briefing of the White House Cove in 19 Response team, including including Dr Anthony Fauci. Plus, we're gonna chat with Dr Don von Vp of data insights at invisibly. They have a survey about whether people will actually take the vaccine once it's available, But right now, let's go to Greg. Jared, get a Bloomberg business flesh Correct. We're off earlier lows ball, but we're still well down in a risk off mood dollars, jumping the most since September Treasury yields with them, the SNP headed to its biggest decline in three weeks. Even after cutting his losses by about half amid speculation the Federal Reserve policymakers will make dovish comments in their news conference later this afternoon. Let's look at where we stand. Now the S and P is down. 1.1% out 43 the Dow's down 1% them 298 and the NASDAQ is down..
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"Markets with Bonnie Quinn and Paul Sweetie on Bloomberg Radio. Continuing to keep an eye on the markets were gonna be speaking with new singer I P o reporter in just a few minutes and banker to the world Build roads will join on everything that's happening in Washington, D. C on day. Increasing coals for bill to invest outside of the United States is emerging markets begin to look attractive. Also the economy with Kristina Hooper of Invesco First a Bloomberg business flush with John Tucker, and the major indexes have been fluctuating between gains and losses in the S A. P. 500 Yep, seven of the 11 the industry groups that are high right now, a bit of a cyber relief on the part of investors after two Federal Reserve officials Pushed back on the possibility of tapering their bond purchases anytime soon, and that seems to have put a cap on bond yields. The idea of an equity bubble won't go away, but Tony Dwyer over a can accord, Genuity says. I am not to worry. There's this great fear in the marketplace that were similar to where we were in 2000 valuations or high equity offerings are historically high. On Dafoe Tech and mega cap stocks are leading the charge and people said she isn't it just like the bubble and it couldn't be further from the truth Right now. Oil fluctuating after almost reaching $54 a barrel combination have been in this to your poor, pointing to another decrease in stockpiles. Saudi Arabians output cuts And a weaker dollar all driving up a run up in energy prices. Right now we have West Texas intermediate crude some 14 cents of 53 35 barrel. As for the major indices down, Joseph Duster Leverage is 21 points higher. That is at 31,093 S and P 510 points higher. That's a quarter of a percent at 38 11. And as that composite index 18 points higher, That's up 6/10 of a percent at 13,150 to the 10 year yield. Right now, the benchmark it 1.1% We check the markets for you every 15 minutes during the trading our right here on Bloomberg Radio. I'm John Tucker. Dani is your Bloomberg business, Flash money and Paul John Tucker. Thank you so much..
Bloomberg Radio New York
"paul sweetie" Discussed on Bloomberg Radio New York
"This is Bloomberg markets with funny Quinn and Paul, Sweetie. Well, technology lead us out of this crisis. We don't know how many companies can accept people back on the roster bed seems to have really flexed its muscles. They're still growing the virus risk breaking market news and inside from Bloomberg experts to wring out that by the dip mentality that takes time. Are we looking at the most Damaging break in the labor market. Does the shape of the yield curve matter? We're looking at late 2021 early 2022 were really feels quote unquote normal. These he's Bloomberg markets with Bonnie Quinn and Paul Sweetie on Bloomberg Radio. Coming up. It is merger Monday. We're gonna take a look at Brookfield bidding to take Brookfield Property Partners Private. Plus, we're gonna get the latest on Bitcoin. It's up another 8% too close to $32,000 Mike McGlone commodity Stratos for Bloomberg Intelligence will make sense of it for us. But first, let's go to Greg Jared Bloomberg News for eight numbers. BUSINESS flesh record. Just got a bit of an elevator feeling in my stomach. Paula's stocks take a leg down over concerned that there could be tougher coronavirus restrictions taking place that offset speculation that widespread vaccine distribution in government stimulus would reignites economic growth. The dollar's down Toward its lowest level since 2018 Thomas Koster Berg Bank pick debt into senior U. S economist tells Bloomberg. He sees bad days ahead for labor markets. I'd expect quite poor employment report for December later this week on Friday. The reason is that the virus continued to spread in the U. S. With shock uprising infections. We've seen initial jobless claims data in December being on the on the soft side as well. So I would expect quite a week report I was check the markets. Now the SNC is down over 1% down 39 the Dow's Down 1.3% down 387. The NASDAQ's Down 9/10 of a percent down 118. 10 years down to 30 seconds. The yield 300.92% West Texas intermediate Goods down over 2% of 47 53, a bear with comics gold up 2.8% of 1947 50 announced. Dollar yen one of 3 12 the euro dollar 22 73 in the British bandit All 35 79 Home Capital group has soared almost 10% to its highest in 11 months after an R V C upgraded Out perform from under perform by Jeffrey Kwan, The analyst called the mortgage lender a sleeper idea for 2021. Right now Capital Group is up 7%. That's a Bloomberg business Flash. Bloomberg markets continues. How funny Quinn and Paul swinging No, thanks.