18 Burst results for "Steve Blitz"
"steve blitz" Discussed on Mega
"We're going to have dances music and just a lot of really fun exciting guests. Also if you're going to be near chicago check out the other show. That would doing august eighth. Tickets are on sale and the going fast we love you and we really hope that this prayer comes through. Thanks guys just like. Jesus flipped over the tables in the temple. And toss those money-changers right out of there. Our guest today. Lead some righteously muscley saucers ladies and gentlemen. Our guest today is miss. Kirti nerve revived. Thanks for having me guys. What a blessing. It is to be here all. Welcome kirti give us an idea of what you are planning here coming up at twin hills because you go all over the world and i think people are going to be pretty excited about what the the event that you bring here ear absolutely right and you know i have to go back for a minute. And your reference to a tipping over and tossing the tables in the temple. That's actually the name of our of our production here it's Temple taller and And what we do kind of an evangelical christian martial arts and combat sports Kind of a deal so what we do is take our our pride and joy in our savior learn savior jesus christ and we toured the nation and we show the kids and the adults. You know. we're all kids at heart about what you can do with their god given talents as god has given us with your body's not just about getting out of bed in the morning it's about getting out of bed and getting in that ring right and we're actually talking about you or the producer of this events. Access management christian combat sports. I'm getting that right there in combat and that's absolutely right. You know it takes all sorts of people to get into that ring. And the only ones i wanna be around the people that know how to get saved and by getting saved you get jumped in that that ring and i'm gonna tell you what when you have two teenage boys with more energy than they know what to do with they can do. They can take two paths. They can go down the wrong path. Get into drugs. Alcohol pornography child pornography animal pornography all sorts of different or take a left turn and they can jump on each other for christ. Okay speaking about from experience. Do you have two teenage boys. It well no. The lord has blessed me with being able to To produce a real children we have my husband. And i steve blitz goes He and i have a a myriad of animals get four cats scary three cats all. We just let a lost cat. See jack but duke Dick van katyn. They're still alive and well and can't bone no. I like that..
"steve blitz" Discussed on Bloomberg Radio New York
"On the Bloomberg business APP and a Bloomberg Quick Take Thiss is Bloomberg Radio. Bloomberg markets Funny Quinn and Poles we How do you kind of you? The volatility in the marketplace here? Harshest downturn for American workers in history companies across the board across industries, really trying to shore up their balance sheets? Very, very disturbing, dynamic that work breaking market news and insight from Bloomberg experts so much that you can speed up the vaccine development Because of all the dislocations. There's always relative value trades that you could be doing. This could use a procession rather than a V shaped profession. The uncertainty, I think that Is really looking everyone. He's Bloomberg markets with Bonnie Quinn and Poles tweeting on Bloomberg Radio. Good Thursday morning from New York City to our worldwide audience coming up or going to chat with Steve Blitz, chief U. S economist Lombard get his thoughts on jobless claims, inflation and the pleasant We're gonna get the latest on the global oil and gas markets. But first, let's go to great Jared of Bloomberg News for a business call, We're up for day Number two stocks advanced. Yes for a second day, led by the tech shares that were battered about on Tuesday. Dollar is down along with Treasury, Let's go ahead and take a look at the markets as we do every 15 minutes here on Bloomberg TV S and P 500 is up, but by how much? It's taken a close look at the work shoot here, and we will see the answer to that question is up by 6 6/10 of a percent up 20 Tao is also up 6/10 of a percent of 169. And the NASDAQ is up. 1.1% of 122. 10 years down to 30 seconds with a yield of 300.7%. West Texas Intermediate crude is down one half of 1%. At 37 90 a barrel Comex gold is up 9/10 percent of 1973 70 and out Salary in 106 15. The euro dollar 90 No one in the British found a dollar 29 35 sentiment amongst US consumers improved the most in 11 years last week is the economy slowly improves? But does remain well below level scene before the onset of the pandemic. The Bloomberg consumer Comfort in next Rose 2.7 points to 47.8 last week. That's a Bloomberg business Flash. Bloomberg markets is on Bonnie Quinn and Paul Sweeney is.
"steve blitz" Discussed on Bloomberg Radio New York - Recording Feed
"When will you be able to go to a meeting where nobody smells like hand sanitizer dunes but we can give you the latest business and financial news fragrance free plus tease out some of what you just said our tools in the toolbox for the Fed. Does that point to the need for continued monetary support Bloomberg radio the Bloomberg business happened Bloombergradio DOT com. He realized the mark that this is having on a younger generation. Bloomberg the world is listening Angel- capital of the world. Twenty four hours a day at Bloomberg dot com on the Bloomberg business APP and Bloomberg quick tape. This is Bloomberg radio. Bloomberg markets. Quinn and Paul's we view the volatility in the marketplace here downturn for American workers in history companies he's across the board across industries trying to show up their balance sheets Terry, very disturbing dynamics at work breaking market news and insight from Bloomberg experts. So look the can speed up vaccine development all the dish locations. There's always relative value trades that you could be doing. This could be a you shake. v-shape profession certainty I think that is really taking everyone. He's Bloomberg markets with Vonnie. Quinn polls on Bloomberg radio good Thursday morning from New York City to our worldwide audience. COMING UP WE'RE GONNA have a Steve Blitz chief economist for TES Lombard. Get his thoughts on jobless claims inflation and the ECB plus. Get the latest on the global end gas markets. But first, let's go to Greg Jarrett of Bloomberg News for a rumor business last. Fall were up for day number two stocks advanced Yes for a second day led by the tech shares that were battered..
"steve blitz" Discussed on Bloomberg Radio New York
"About 1/10 of 1% crude at $42 in two cents, up 2/10 of a percent. And gold pushed higher. With December futures pushing 2080 announced. All right, That is enough data markets. Let's get your news update with Baxter. Yeah, Brian, you mentioned Facebook, up 66.5 is that right? Six points, six and nine points. Thanks. I think that's what it is on. That goes along with Mark Zuckerberg, saying that his net worth now has passed $100 billion. Tokyo's government has asked residents refrain from leaving the city and has raised the Koven 19 alert level. Tokyo now the highest possible level for a spread of infections. Meanwhile, Officials are playing down suggestions of Japanese Prime Minister Shinzo Abe, seriously ill. US leaders working on covert 19 relief are back at the president says he may have an executive order tomorrow to deal with extending some of the benefits. Democrats say it will not fly. New York's governor, Andrew Cuomo, expected tomorrow to make a decision about whether to open schools. And when Ohio Governor Mike DeWine has tested positive for covert 19 and test taken is a standard protocol degree. President Donald Trump in an airport in Cleveland, he did not meet and greet Over a 1,000,000 people in northeastern US remain without power being told they may not have power until early Sunday. Some may go out to a weak and New York's attorney general has filed suit against the NRA with the main theme that it has operated for years as a piggy bank for top officials. In San Francisco. I met Baxter. This is number come And thank you still with us is Steve Blitz Chief U. S economist at T s long, Bart. We're looking ahead to the jobs report in the US. Of course, we were discussing the labor market before the break. Steve do we have a clearer idea off what is needed from this stimulus package that continues to be debated in the halls of power in Washington? How much is needed and how targeted do we think it needs to be to create that bridge for the economy on DH for workers in the U. S. Well, I think you're 100 per cent right, pulling it a bridge supposed to stimulus, And that's really the key point. Um, and my guest. Originally I thought it would be about a trillion and 1/2 but I think now it looks like it may a jump towards $2 trillion. It's obviously Targeted. You know when things such as the increased unemployment benefits and extension of pee, pee, pee and and key, also on the Republican side is getting liability protection a state governments But this is all the bridge. And the liability protection is important to the firm can open up without getting hurt with suits. The important thing is this thing is going to last. Until probably the end of January. So this is the last fiscal bars major event. This is the last fiscal package really between now and after the election. So it'll be up to the next president or the same president. It's certainly the next Congress. Whatever that looks like to deal with this come next January February and we'll see where the economy is. Now. You mentioned you mentioned the presidential election on and we do know that American consumer confidence is Is a little bit lower, with the Conference board's index below 100. What's the What's the relationship between consumer confidence and how Americans vote? Typically when it's under 100 really when it's under 98 the incumbent party agnostic Person Party, just the incumbent party does not hold the White House. And generally went over 100. They do now we've had a couple of exceptions and 68 2000 and actually when Obama ran for re election. 68 in the Obama reelection are two points, which I think that Trump will pull from it was pulling the law and order from Nixon. And then Obama saying, Look I did my best. No way. After the the away 09 recession, we could be back at full employment only four years later, only years later. You gotta give me more time to make this kind You recover. Some people say Look, I have economy going. It's my fault, not my policies. It's cold it and Later on fiscal plans fiscal policies We've passed etcetera and those who are going to be the twin pillars of the positive message that he's gonna work on two for re election. Steve, you're looking at this package potentially around 1.5 trillion may be little more than that. What does that mean? If that comes T fruition? What does that mean for the Fed? Can they just continue with the program's They've already outlined in terms of yield control. Yield curve control, looking at 1 19 on 30 years. Today. Does that give them a window of opportunity to see these programs just play out? Yeah, I think it says Look, this doesn't have a plan here, right? So their plan is just to make sure that markets are functioning like Uly, where they haven't targeted. Maturity or targeted size of the balance sheet, so they're just going to keep going also understand. You've got the saving rate 20%. So there's a a lot of private capital available to fund this deficit right now. Now, economy gets going saving rate gets down 567% Now we start talking about a different different issues. And that's what we will see what the feds tolerances are in terms of Captain.
"steve blitz" Discussed on Bloomberg Radio New York
"Against God. He's against guns. He's against energy are kind of energy. Biden is a lifelong Roman Catholic who is frequently injected religious themes into his campaign speeches. Biden spokesman responded briefly that his faith is a core of who he is and says Mr Trump uses the Bible for his political purposes like posing in front of a church. And Mr Biden is focused on Latino community today whether it's his neglect of the people of Puerto Rico after Hurricane Maria, which is outrageous. Words, repeated failures to make your essential workers have the personal protective equipment they need. Donald Trump has failed the Latino community time and time again election less than three months away, and that Bloomberg Sarah Friars, reporting today to Bloomberg Special meat Social Media is having to keep up with a number of his shadow domestic networks spreading information so not from outside from inside, going to have to keep Changing their their tactics. Teo to dress, not just what happened in 2016. But what's new this November 2020? We may not have seen The extent to which the problem has gotten out of hand. Yet now, she says, Facebook and Twitter felt comfortable taking down the trump video regarding Children being immune because it directly conflicted with scientific medical evidence. And over a 1,000,000 people in northeastern US still remain without power and being told by Con Ed. That they may not have power until at least Sunday, and some estimates go out a week. Wow, that's over a 1,000,000 folks still in San Francisco. I'm Ed Baxter. This is remembered Ryan. All right. Thanks very much. Let's get to our first guest on the show today. Steve Blitz Chief U. S economist at T S. Lombard. Steve Markets are expressing a little bit of optimism and some of the data economic data has been relatively decent of late. But there is this concern now that there's a bit of an increase in cases here with U. S case is increasing a little bit above the recent average in the past day or two, and also Germany and France and a few other European countries, seeing some infections picking up our mark. It's getting a little ahead of themselves here. After Mullen Well themselves up, Mr. Pessimistic. Well, well, the markets have been quite optimistic. Obviously, if you look at where where equities are Yeah. Listen, I think the issue here is It's quite simple, actually. So as we've gone from the mandated shutdown, the reopening It's a contrived collapse, speak and has reopened. We've been seeing these tremendous increases being employment, retail sales. Was any indicated auto sales back 14.5 1,000,000 in July. Versus bottom of eight million and poet expectations. Remarkably, both business and consumers really look. Att, the regional feds, surveys in terms of percentages of future capital spending and hiring. Have not even come close to recessionary levels. So there's tremendous optimism that this Waas a is a short lived event. With these various events in the sun belt, now in Germany, France what they're telling you. Right without become obviously I'm not a scientist or a doctor on this, but what they're telling you. Is that there's a lid On economic activity as long as this virus exists. And as such, you're going to continue you get the reopening, taking to a point. And that point is less than full employment is less than full capacity. Even if you're running a 10% retail sales of running a 10% of where they were 90% of where they were down 10%. That's it. They're recession. And Steve. Steve. Talkto us talk to us about the labor market in the US, we had the nonfarm payrolls. They're coming up on Friday later in the US, Of course, we had the initial jobless claims coming in slightly better than expected. How is the labor market looking to you? Now? The dislocations in the late market in the U. S. Right. So the district is very simple. The, um It's probably going to be a flat number tomorrow, maybe even slightly down. Ah, based on the fact that you still seeing these layoffs and what happened in the sun Belt, probably put the lid on hiring and firing there and elsewhere. The weekly and claims number being down, you know, a week ago down this week,.
"steve blitz" Discussed on WBZ NewsRadio 1030
"A man should not be allowed to file a lawsuit over a face covering ordinance in Nashua along with the governor state of emergency those lawyers say Andrew Cooper didn't cite any specific harm in his request to block both of those as this lawsuit proceeds during the hearing today Cooper's attorney argued the state hasn't shown that restrictions meant to prevent the spread of coping nineteen of actually worked the attorney also said national lacks the authority to force people to wear face coverings in public meantime across the country new cases of covert nineteen are searching in more than a dozen states in in those states the argument over wearing a mask is heating up to CBS's Lee Cowan spoke to one person who thinks the policy on coverings should be considered similar to No shoes no shirt no service in a deeply polarized America almost anything could signal political trouble with but why masks specifically they would Abrams is professor of social and behavioral sciences at NYU school of global public health that never got colorized people didn't say I'm here and I just got off the beach and I want my ice cream I'm just gonna come in dead feet except that president trump thirty thousand people here in Massachusetts filed new unemployment claims last week for context that's down about fifteen thousand from last week overall since the start of the pandemic back in March well over a million Massachusetts residents filed for assistance nationwide correspondent Mike Bowers has about a million and a half around the country filed their first time claims this week and that number higher than the economists prediction of one point three million Thursday's data indicates a continuation of a downward trend and reflects an elevated unemployment level that has remained unabated for thirteen straight weeks additional claims totaled one point five zero eight million for the week ended June thirteenth Steve blitz chief U. S. economist at TS Lombard said for an economy that's re opening that is a huge number adding the economy is losing workers and unemployment beyond the initial impact tied to businesses that shut down and it three oh seven some sad news for those in Boston Jamaica plain neighborhood a restaurant lounge that's been a gathering place for decades is closing its doors the latest victim of covered nineteen Bella and the Milky Way is closing permanently much to the.
"steve blitz" Discussed on WTVN
"This new safe schools work group is a step forward in that direction of working towards these demands that the district two year contract with CPD actually expires at the end of this month on June thirtieth the school board president this gives them time to reevaluate the schools needs she says the group will include a broad range of students families staff members there district partners as well as community members the department of labor says around one and a half million people filed for unemployment for the first time just last week and that number higher than the economists prediction of one point three million Thursday's data indicates a continuation of a downward trend and reflects an elevated unemployment level that has remained unabated for thirteen straight weeks initial claims totaled one point five zero eight million for the week ended June thirteenth Steve blitz chief U. S. economist at TS Lombard said for an economy that's re opening that is a huge number adding the economy is losing workers and unemployment beyond the initial impact tied to businesses that shut down my power NBC news radio radio six ten WTVN sports NC double a division one council yesterday approved a six week practice plan that begins in July it'll transition team for voluntary workouts to the typical mandatory meetings in preseason camps to prepare for the twenty twenty season it'll also allow coaches to interact with their players for the first time since mid March Major League Baseball sent a proposal of the players yesterday for sixty game season and a full pro rated pay no deal yet but under the proposal the season would begin July nineteenth at cavs all star Kevin love will be honored with the Arthur Ashe courage award.
"steve blitz" Discussed on 710 WOR
"Parking spots this is a great trade off to to help our restaurant business get up and going in the mayor also allowing playgrounds to reopen Monday I'm Scott Pringle W. O. R. news governor Cuomo says the news on corona virus testing is the best since the pandemic began in New York sixty eight thousand tests each sample what did it say point nine less than one percent positive the lowest percent positive since we have started the governor says twenty nine people died over the last twenty four hour period corona virus has killed more than twenty four thousand people across New York state Supreme Court has ruled against the trump administration's move to end daca and a stunning decision by the Supreme Court Chief Justice John Roberts wrote with the liberals finding that the trump administration acted unlawfully when they decided to cancel deferred action for childhood arrivals or daca but this ruling does not mean the end of challenges for daca the majority opinion states quote the dispute before the court is not whether DHS may rescind daca all parties agree that it may the dispute is instead primarily about the procedure the agency followed in doing so Catherine folders A. B. C. news Washington as Senate minority leader Chuck Schumer reacting to the Supreme Court decision I cried tears of joy a few minutes ago when I heard the decision of the Supreme Court on daca these wonderful daca kids and their families have a huge burden lifted off their shoulders the labor department says around a million and a half people filed for unemployment for the first time last week and that number higher than the economists prediction of one point three million Thursday's data indicates a continuation of a downward trend and reflects an elevated unemployment level that has remained unabated for thirteen straight weeks additional claims totaled one point five zero eight million for the week ended June thirteenth Steve blitz chief U. S. economist at TS Lombard said for an economy that's re opening that is a huge number adding the economy is losing workers and unemployment beyond the initial impact tied to businesses that shut down Mike Bauer for seven ten W. along John Bolton's new book is quote a compilation of lies and made up stories so says president trump today on Twitter trump claims the book entitled the room where it happened is designed to make it look bad Bolton says in the book the trump is unfit to serve as president as we told you New York City is headed for phase two re opening on Monday and the merits Chicago ease re opening that city's lake front to runners walkers and bikers mayor Lori Lightfoot is urging caution a Chicago reopens eighteen miles of lakefront trails next week monitors will be making sure people are on the move not congregating and socially distancing one possible I don't want to be in a position where I have to stand in front of Chicago and say we failed and we have to scale back our re opening that would be devastating to everyone she has not announced a date for reopening Chicago's beaches right bro ABC news Chicago it's cloudy it's muggy we have seventy two degrees right now in lower Manhattan and next up we check out the forecast.
"steve blitz" Discussed on Bloomberg Radio New York
"The European stocks are climbing up four tenths of one percent on the use of six hundred to six dice games the same about four tenths of one percent higher incidence of individual companies that we watching school none of us at the world's biggest container shipping company of one of the strikers recruiting findings today I sees a bleak industry outlook because of the global trade wars at this checkpoint is flat right now interestingly they beat up by two point two percent that's often the labor party in the U. K. so he got nationalizing Beatty's opened reach at all all units so that they can offer free full fight that would back across the country that is if they win the general election in December Beatty's both sitting back saying that the latest estimate how much it will cost so all false the unknown estimates later saying twenty bid at the company will say more like a hundred billion as for the rest of the markets is really all about this would you trade deal optimism that we see the actually markets had hired the MCI Asia Pacific fall by half of one percent of for example and to see you as speeches right now heading hi up by three tenths of one percent on the S. and P. five hundred in terms of features as for the FX space we trade at one school eighty three percent for U. S. federal yells at gaining two basis points out the maybe the PVA CO six added a bit of liquidity into the markets this morning they're not quite as much as some market participants had wanted kept interest rates unchanged at three point two five percent so China's you wanna Minnesota this trade war discussion it strengthens had the four percent twenty seven zero one have you ever thought you with one hand the pound of one twenty eight seventy six this market that is a perfect business fast but his insurance is Caroline good morning two students have been killed and three others injured by a gunman who opened fire as a secondary school in California officials say the shooting took place at sawgrass high school in Santa Clarita minutes before the school day was G. to begin a sixteen year old male suspect who was also injured was taken into custody a state of emergency has been declared in Venice as the house still Rick city deals with the worst flooding in more than fifty years this site from locals that huge underwater defense barriers still hasn't been finished it's Elise prime minister Decepticon today has had a special cabinet meeting off to visiting the city and finding can she shake it off Taylor swift is accusing her former record label of stopping her performing her old songs the escalating disputes with powerful celebrity manages to prone and the singer song writer tweeted appeals king fans an asset management firm Carlyle group to help a secure ownership of six album she recorded under the big machine label this disagreement means she might not be able to go out to go ahead with an upcoming set at the American music awards and a Netflix documentary about her life people needs twenty four hours a day on average it took took on Twitter powered by more than twenty seven hundred journalists Amanda symbol the one hundred and twenty countries I'm young parents this is bring back on a land thank you very much coming up next on colleagues in the U. S. getting ready for bring back a day right yes checking with Nathan Hey guess who is a standing by for us and they think that good morning and it seems Larry Kudlow is reference to Gulf he has that done the trick boosted the markets right the phrase of the day I I think you're alluding to there it is short strokes and the other one is yeah that's where the White House says the US and China are when it comes to finally hammering out of phase one trade deal that it seems like they've been saying for weeks if not months of their very close to but we are saying a lift to market sentiment this morning but what about longer term we're hearing from some financial heavyweights warning that deeper trade tensions between the world's two largest economies could persist for decades we're gonna check in with the chief US economist at T. S. Lombard on this Steve blitz will join us we also await another indicator of the health of the U. S. consumer will preview October retail sales with you'll initial yet you via of Bloomberg economics and we're getting ready for the next round of impeachment hearings those begin in just a few hours with lawmakers hearing from the former Ukraine ambassador who says she was the victim of a smear campaign join me and Karen Moscow for all that coming up is we work on our short game on blueprint yes it will get you could do that walls broadcasting as right as it is radio of the world absolutely fabulous thanks very much Nathan out next season Hager and the team on bring back daybreak always listening on London DAB digital radio you'll hit a bank surveillance now let's talk about the the fed to the fets JJ Powell cool the US economy a quite stop a formal on his second day of congressional testimony his own be views round of a week in which officials have painted a positive picture of the US economy reinforcing that monetary policy is set to be on hold for a prolonged period the US economy is the star academy these days were growing at you know two percent right in that range so more than any of the other advanced economies are growing and that's there's no reason to think that can't continue the policy accommodation we've taken which.
"steve blitz" Discussed on KQED Radio
"Member of Congress died today at the age of ninety as NPR's Bobby Allen reports Conyers who resigned under a cloud of controversy is being remembered as a long time civil rights champion and fierce Liberal Democrat Conyers join the house in nineteen sixty five and co sponsored the voting rights act which banned voting discrimination he helped establish a national holiday for Martin Luther king and he will a fierce critic of both the Vietnam War and the war in Iraq democratic Tennessee congressman Steve Cohen admired Conyers legislative record and considered him a mentor he hired Rosa Parks to working as the court office he was the only person congressional person I think doctor king ever divorced he founded the congressional black caucus Conyers left office after former female staffers accused him of sexual harassment in twenty seventeen just around the time that the me too movement was taking hold Conyers always maintain the allegations were not true Bobbi Allen NPR news Washington congresswoman Katie hall of California resigned today the freshman Democrat is getting a divorce from her estranged husband who claims she's been having an affair with one of our employees which would be a violation of house rules she denies a sexual relationship with the campaign staffer when he was running for Congress but now it is an appropriate one the health exes me announced last week was launching a preliminary investigation this is NPR news from Washington despite interest rate cuts by the federal reserve the latest economic indicators for the month of September have been on the soft side Steve Beckner reports analysts are lowering their forecast for third quarter growth of the gross domestic product falling home sales and durable goods orders making economists wonder whether vital consumer spending will hold up retail sales have dipped though consumer sentiment has improved this month GDP is still growing with low unemployment but slower than the first quarter's three point one percent pace the Atlanta federal reserve bank puts third quarter growth at one point eight percent the slowdown worries TS Lombard Steve blitz the economy is slowing down the pace where it is increasingly susceptible to an accident the unforeseen event of one sort or another that could kick the economy into recession the commerce department will make its first estimate on Wednesday for NPR news I'm Steve Beckner Texas police are searching for a gunman who opened fire in an off campus college party in Greenville last night two people were killed about a dozen others were wounded it was one year ago today that a gunman walked into the tree of life synagogue in Pittsburgh and opened fire eleven people were killed seven others were wounded memorial services were held in Pittsburgh and elsewhere including an online version several hundred people registered to volunteer and various community organizations to honor those who died a forty seven year old truck driver is charged with murder I'm Nora Raum NPR news in Washington.
Consumer Lending Powers Big-Bank Earnings
"We spend on this show as you know a fair amount of time parsing all the different economic indicators out there retail sales those jobs numbers trade figures home sales most of that data comes from government sources or trade groups but corporate earnings season gives us a chance to peek at the books of some of the biggest companies in our economy. Today it was all about banks with Goldman and sacks wells fargo and J. P. Morgan Chase reporting their latest prophets marketplace's Sabrina Bene- sure has more on what investors will be looking for. There are a lot of forces pulling at U._S.. Companies Right now on the one hand. You've got slower global growth. You've got trade issues on the other hand. There are positive things like the Fed might lower interest rates. The big question is how are companies coping with it all. Are we GONNA see generalized growth in here over. Are we going to see the companies are meeting lowered expectations in spite simply doing more with less Max Wolf is managing partner at financial consulting for multi variant companies can adapt they can cut costs. They can finesse their accounting. Some economists are worrying specifically about industrial firms BURBS IT produce things Steve Blitz is chief economist with T._e._S.. Lombard industrials include companies from Boeing to homebuilders because that's the area the macro data. That's curated the most and second quarter and so you WanNa see what's happening there. Meanwhile companies with international footprints will continue to tell us how the president's trade conflicts are trickling into the economy. Mark Leeman is president of J._N._p.. Securities he does not expect surprises. I think you're going to have another quarter of disappointment for the people who've been most afflicted by Diet. It's not solved and we need to get itself soon to help. The global economy and of course earnings reports are also windows into the minds of corporate leaders. Jim Paulsen is chief investment strategist at luth old group at the end of the day. Most important is going to be what does say. They're seeing for the rest of this year. One of the most important thing C._e._O.'s do during earnings reports is try to manage expectations and where they set that bar is where the market will try to go in New York. I'm Sabrina short for marketplace.
"steve blitz" Discussed on KQED Radio
"With us we spend on this show as you know a fair amount of time parsing all the different economic indicators out there retail sales jobs numbers trade figures home sales most of that data comes from government sources or trade groups but corporate earnings season gives us a chance to peek at the books of some of the biggest companies in our economy today it was all about banks with Goldman Sachs Wells Fargo and JP Morgan chase reporting their latest profits marketplaces Sabri Benesch or has more on what investors will be looking for there are a lot of forces pulling a US companies right now on the one hand you've got slower global growth you've got trade issues on the other hand they're positive things like the fed might lower interest rates the big question is how our company's coping with it all are we gonna see generalized gross in here or are we going to see the companies are meeting lowered expectations by simply doing more with less Max wolf is managing partner at financial consulting for multi variate companies can adapt they can cut costs they can finesse their accounting some economists are worrying specifically about industrial firms farm produce things Steve blitz as chief US economist with TS Lombard industrials include companies from Boeing to home builders because that's the area the macro data that's deteriorated the most in second quarter it's so you want to see what's happened there meanwhile companies with international footprints will continue to tell us how the president's trade conflicts are trickling into the economy mark women is president of JMP securities he does not expect surprises I think you're gonna have another quarter of disappointment for the people of been most affected by it it's not solved that we need to get itself soon to help the global economy and of course earnings reports are also windows into the minds of corporate leaders Jim Paulsen is chief investment strategist at little group at the end of the day well support is going to be what CEO say they're seeing for the rest of this year one of the most important thing CEOs do during earnings reports is try to manage expectations and where they set that bar is where the market will try to go in New York I'm to be better short for market place speaking of managing expectations JP Morgan chase CEO Jamie Dimon said today the consumer in the United States is doing fine actually better than fine if you look at the latest retail numbers sales for the month of June rose four tenths of a percent according to the commerce department and sales for may were revised upward each commerce did especially well with non store sales up more than eleven percent last month compared to a year ago thing is online gains are often brick and mortar losses marketplaces Mitchell Hartman reports fifty one year old Claudia Patrick grew up in Kansas city so she was a mall rat as a teenager work through her twenties in a department store the mall that I worked in is closed they tore down and turn it into office space when a huge bus terminal cancer cells doesn't shop much it mall department stores anymore and less what I'm looking for online I can't find or I'm worried about the site multiply that by countries worth of consumers and you've got a problem for brick and mortar stores course eight research reports that so far this year about seven thousand stores have closed more than in all of twenty eighteen retail layoffs are on track to match last year's total which was the highest since two thousand nine according to anti challenger at outplacement firm challenger gray and Christmas a lot of those job cuts that we do see are in retail locations and rural America in smaller towns it's also tough for a big national department store chains Camilla young chefs ski at CFRA research says companies like Coles and Dillard's continue to suffer from high costs and price competition but she's bullish on discount dollar stores dollar general has already announced that they plan to open almost a thousand new stores meanwhile those ever rising online sales are driving a lot of job growth and business expansion in warehousing and distribution largely in major metro areas like Kansas city I'm Mitchell Hartman for market place Wall Street had plenty to chew on today we'll have details when we do the numbers it was a big day on Capitol Hill for big tax a series of congressional hearings.
"steve blitz" Discussed on KQED Radio
"That question but trump said that might not be an obstacle we can also added a vision on so we can start the free thing now and maybe your that does them after we get a positive decision so we're working a lot of things including an executive order the Supreme Court stop the administration's effort to add an inquiry for now after raising questions about the government's explanation for adding it but the court did not issue a decision on whether the question itself would be unconstitutional ice Roscoe NPR news Washington a young man who claims he was sexually assaulted by Kevin Spacey three years ago is dropping his civil lawsuit now attorney Mitchell Garabedian isn't saying why his client had changed his mind the suit was filed in a Massachusetts court last week the young man who was eighteen when the alleged incident occurrences spacey gotten drunk and groped him at the bar of a restaurant where he worked as a busboy in twenty sixteen spaces lawyers accuse the young man of deleting text messages that would have supported the defense the fifty nine year old Oscar winning actor was also accused of seducing a fourteen year old in nineteen eighty six he was among dozens of high profile men in various fields to be accused of sexual misconduct as the me too movement was gaining momentum the labor department says today job growth job more than expected in June after may's dismal seventy two thousand increase Steve Beckner says that it's causing Wall Street to reassess the odds of a federal reserve interest rate cuts later this month analysts were looking for a much smaller non farm payroll rise than the reported two hundred and twenty four thousand so fed watchers are rethinking their predictions of a big cut in the key federal funds rate not everyone is convinced the fed should back off despite June's rebound average job gains of still slowed from two hundred and twenty three thousand per month last year two hundred and seventy one thousand in the second quarter wages are also rising more slowly TS Lombard economist Steve blitz thanks the fed needs to move aggressively to boost inflation and prevent recession that Steve Beckner reporting at last check on Wall Street the Dow Jones industrial average was down thirty points this is NPR news from KQED news I'm Jeremy Siegel the conditions of the two teenage boys who were shot and injured in.
"steve blitz" Discussed on Bloomberg Radio New York
"It's no good time. No, okay. No problem. Bye or D help her find a new boyfriend. I know great place to meet boys, the internet. Nice single. never mind how about some ice cream as a parent there are no perfect answers but you have to be perfect to be a perfect parent thousands of teens in foster care will love you just the same for more information on how you can adopt visit adoptuskids dot org a public service announcement from the u._s. department of health and human services adopt u._s. kids and the ad council says the bloomberg market minute wall street is coming off a losing session investors became concerned after comments from federal reserve officials cast doubt on the size and timing of interest rate cuts shares of tyson foods and pilgrim's pride were among the losers on news of a federal criminal investigation into alleged price-fixing in the chicken industry and steve blitz t._e._s. lombard tells bloomberg radio the rising tensions between the united states andy ron not helping matters it gets people nervous for good reason and it has to turn into something other than just a war of words for to have some kind of native affect on girl let says if things go beyond words people could stop spending and that's a worry the conference board reported tuesday that consumer confidence decline this month reports on home loan demand and durable goods orders around the way this morning general mills k b home in blackberry released quarterly results today jeff bellinger bloomberg radio in depth analysis concise reporting though global business news around the world and across the markets bloomberg connect the dots for decision makers stay on top of today's headlines follow big breakthroughs in tech understand the latest political issues see how the world's wealthiest are spending their money track what's happening in the markets and much more subscribed today to bloomberg global standard.
"steve blitz" Discussed on Bloomberg Radio New York
"Speaking about the bitcoin, and currencies. Of course we hit moo about. Lieber we've got to shell sandbag has been speaking to Bloomberg said, we'll bring you comments about libra high might actually take a little bit more time to bring in Facebook's digital currency than than had been previously thought hoping you a bit later on in hours. Now, Bloomberg daybreak is actual customers terminals napping. You all the news that you need to start your day. Let's get a check of the top headlines with David Ed. Macauley lie from Hong Kong great. So go to talk about the fed. We've let's on the speculation though away from the kind of rate decision potential cuts, the speculation around the White House. The cashier to move. Jay Powell, he of course, dismissed tools of being five. So what's the latest? Yeah, that's right yesterday. It was a report about the White House, examining its options. It's abilities to fire the fed chief now we've heard what the president believes and what is heavily. So you're in Powell, he told a press conference, his understanding of all is that it's clear that it says he has a four year term. He also says he fully intends to serve that term how the Bloomberg news Lund just a few hours off to that statement from the fed that the president thinks, otherwise. So Donald Trump reckons he does have the authority to devote the chairman of the Federal Reserve back down to governor status. However, we understand that the president is not currently planning to do, so, so that's good news. We. L send the feds gonna go ahead and listen to him. So, you know who I fire someone who's doing what you told them? We also interesting, though tidbit that Trump has quite peeved with his Treasury Secretary Steve Mnuchin for recommending Powell in the first place. Apparently, though, this isn't a threat to his job. All right. The fed isn't the only central Bank inaction. It's the biggest obviously, but the. B O J. Well, I guess it depends on how you measure them, right? Who holds more bonds? But the B O J had its rate decision this morning. It also chose to stand, Pat. Yeah. This surprised none of the fifty economists by blue bug old foods that they saw that Bank Stein and Pat today. So no drama. There have at the central Bank chief has a press conference in about an hour. And of course, that's something to watch made me the big theme. Is that the market now sees the next move by the Bank as an increase in stimulus and some reckon, they could be action, even next month so given that the things which now is how, how did he co Kuroda addresses those expectations whether he hints it whether he will add oil sites to speak, or how he might do that date? And of course, much Jay does is also potentially related to the yen, and the feds impact is on, on the yen of Qasim is gaining this morning food tenths of one percent. What about the other decisions that were getting out because, of course, the Bank of England and the no Hispanic? And I'm gonna host Lou in Asia central banks making decisions, but let's stick to Europe. I. Well know who's buying is an interesting to watch actually hike rates today. So that'd be unusual among major economies. I guess if it does, it will probably increase to one point two five percent. That would also be it's hike since September the no wages can thank a boom in oil for that confidence at the central Bank, and in England the Bank expected to hold but with watching out for perhaps a hawkish tone in its statement, by the way, I just I'll share a chart with you with all of you, which I think is interesting, even though this is radio. If you look at G hashtag, BTV four zero three five so for those of your in your car's just remember forty thirty five and then type it when you get to work, this is fascinating. I mentioned earlier about the fed being the biggest central Bank, and actually, the B O J holds more in terms of bond purchases, and ask. Sets than the fed, or the, the B, O J has five hundred and it looks like a five point two five trillion dollars in assets. The fed balance sheet is just over four trillion. And the balance sheet is just about three trillion. So I just thought that was interesting little. Depends on the state. Doesn't it good to get tonight? Let's also talk about another big. In. Potentially around doing each Bank. Vich. So the US authorities basically said to be probing Deutsche Bank of money laundering compliance. Do we know so fun? And this has been voting on for some time. Yeah, just another headline of bad news. It says, so the new times says federal authorities are looking into how to handle the reports of suspicious activity. So these are the reports that its own employees created flagging certain behavior that may or may not have been illegal one to see detail. The times says that some of those reports that had been flagged as containing potentially suspicious behavior. Linked to Jared Kushner, the president's son-in-law. So we'll see if anything comes up that says it's cooperating at has been improving its anti money laundering systems average. Thanks for joining us. Richard MacAuley, daybreak editor, joining us live from Hong Kong for the news, you need to start your day. Bloomberg customers can access daybreak by typing. D A, Y B, go on the Bloomberg terminal. Now, let's get the latest in global news headlines. The phone. Good morning, Caroline president. She has landed in North Korea has story trip to peel young. Bloomberg's Karen day since the meeting comes as US talks with China and North Korea, stumble, it also case, a renewed Camry between the two neighbors, and since Donald Trump, a message about Beijing's broader influence ahead of trade talks, which she at the g twenty summit in Japan for Kim Jon, it's another chance to show his options beyond a third meeting with Trump after their last summit collapsed. In Hong Kong. Karen Lee, Bloomberg daybreak Europe for the first time in the European Union's history that top jobs being contested Ola, once putting bugs Maria today says we'll back full mojos trading is e you ladies figure out he will get once in the European Commission. Now, there are a number of competing interests and particular when you look at the French and the German government, but the head of the European Council, Donald tusk is optimistic that a compromise will be found having set that there is already speculation that an emerge. Urgency summit maybe needed by the end of next week to break the deadlock in Brussels Maria today. Bloomberg daybreak Europe in New Zealand six month firearms by back has been the government's already banned semi automatic weapons, used in the Christ Church, mosque terror attacks, which killed fifty one people in Mont prime minister Johnson to Ogden says we'll be compensated are the east that is being made for by officials. Is that the buyback could cost anywhere between one hundred million in two hundred million dollars. But that is the price that we must pay to ensure the safety of our communities, and Doron state news agency says the country's revolution. Regard has shut down a US drone the American military hasn't commented, yet, that's been rising tension between Tehran and Washington after the Pentagon sent an additional one thousand troops to the region under this week, playbill news, twenty four hours a day on errant. Take took on Twitter by more than twenty seven hundred journalists and. This symbol than one hundred twenty countries on the gerrans. This is Bloomberg. Caroline, but mostly on now with the morning sports with UMass left. Score dot of the women's World Cup after throwing away a three elite against Argentina needing a win to keep their chances of reaching the stages alive. They can say three times in the final sixteen minutes. Elsewhere England maintain their one hundred percent record with a to know win over Japan. I'm your con- says the Joshua's next fight shouldn't be a rematch with Andy REEs junior, the Mexican stoned, the boxing world by knocking the British fighter to win four of the world titles earlier this month. Con says he feels Josh needs to get his confidence back. That was the sports that with MS coming up on debate you dovish tail in the plot, we talked to Lombards chief economist, Steve blitz as we digest everything filmed, the fed yesterday what it might mean for central banks around the world, making decisions, the Bank of England for one this is Linda..
"steve blitz" Discussed on Bloomberg Radio New York
"We got from the fed yesterday. As are we hear Bloomberg radio and help us to do that a little bit more. We welcome. Our next guest. Steve blitz. Steve is chief economist for TES Lombard. He joins us here. In a Bloomberg interactive brokers studio, Steve welcome to the studio. What are what is your key takeaways? Know the fed announcement yesterday in the commentary surprise, I think the market what were your key takeaways? Well, first of all we weren't surprised defenseman telegraphing this since really the end of December. And then the end of quantitative tightening is really he he gave it out to the markets back the meetings. So this to me is just the combination of it. The key. Takeaway is this the fed understands that it really cannot afford recession. Right. The hubris that central banks always carried with them that the comedy starts slow. They could always get rates down low enough to rekindle animal spirits. Get the economy back again that hubris got destroyed really with the last recession. And so it's not so much the fear that the next recession would be as your larger is catastrophic is the last one because there's no imbalances over suggests. That's the case. But it's really the getting rates low enough long enough the rekindling of QE back to zero yields just to get a mediocre recovery going and they'd rather avoid recession now or avoid that kind of avoid that kind of slowed down now and deal with a higher growth higher inflation environment. Twelve eighteen months down the road, which is something they know how to take care of. But here's the weird thing. If that's the case, why do you see today? Longer-term inflation expectations a little bit lower. Right. I mean, why is it that people are not viewing this dovish tilt of the fed as as juicing in a significant way longer term inflation. Well, I think there's two things first off real yields have dropped L Everson. If you go back to January third, you do see that really dropped a lot more than break, even inflation's half to your so in that sense, the Q end of Q E. The end of coochie the stealth that get started really when they start swapping mortgages for treasuries later this year. There's no inflation. Right. If you go back if you just look at goods CPI goods X oil since one thousand nine hundred ninety six not the rate just the index is a flat line. The only inflation. We really have in this country is really is is is service inflation most of that is insurance and really rent, which is really a tax on producers this attacks on consumers. It's not the kind of goods inflation that would generate that kind of growth so people see that kind of inflation number, you know, happening again, it doesn't seem that going to be right. It's just they don't see it. I'll Steve you brought up the armored as in recession. Do you think the fed actually was concerned about a recession at this point? I don't think they're concerned about. No one's talking about. It's not in the minutes. Maybe we'll see you know, five years from now in the actual transcripts released. But I think they are concerned that what they're seeing Greenspan told the fed you see the slow down the economy in the market before you see in the real data towel markets guy. He's not in a communist the the market started to invert to curve back before the last fed hike in certain parts of the market after that fed hike. He saw that. He knows what it means. He doesn't have to say the our word to understand that. Hey, we have to do something now. Right. Because the other part of the story is this a fed any central Bank can do boost financial assets right in the hope that the gains in the financial assets turned into real spending that translation has been sorely under expectations during this recover. Dery which means that households for example are all overweight in their portfolios financial assets. So just going forward. What is the risk of overheating? Whether inflation doesn't sound like you think is going to take off. But what about with respect to just financial assets at this point? Well, I think if the fed is successful, and if China does indeed recovering the second half of the year, as we expect it, well, you can't lead the China part out of this story. It's a it's an integral part of the outlook for the us here in the next six to twelve months, if China turns US economy turns chances are by the middle of next year. You're you're looking at a strong economy with high growth higher inflation some inflation and financial assets. Probably a higher higher ten year yields but more in the inflation break games, then in the real yield. I think in that environment. If you ask the fed right now. Now, they would take that in a heartbeat because that they know how to deal with that is a much easier problem for them to handle than a disinflationary slowdown. Steve blitz. Thank you so much for being with us today. Thank you Steve blitzes chief economist at TES Lombard joining us here in our Bloomberg interactive brokers studios. The idea here is the fed trying to avoid a Japan like stagflation for years. And it seems like the inflation conundrum is coming out as one of the main priorities central banks that are generally taking a dovish tilt globally right now. We are looking at equity markets that are rallying off off their highs earlier, but still a pretty strong NASDAQ up nine tenths of one percent as dow-jones up about I don't know six seven tenths of a percent. We are also looking at a rally in bonds with yields lower ten year yields currently trading just just at two point.
"steve blitz" Discussed on Bloomberg Radio New York
"A willingness to wait a sort of dovish tilt that has given some market some confidence joining us now Steve blitz chief economist for TES Lombard, and he joins us now by phone. Thank you so much for being with us. I'm just wondering from your perspective. Do you think that the Federal Reserve will hike rates again this year? No, I don't and first of all happy new year everybody. No, I don't I don't think they didn't a hike because I always get this very interesting fedspeak, which which has at the moment this notion that the asset markets of pricing one world and the economies of different worlds when we all know that asset prices determined economic activity. It's how monetary policy works. What has occurred to date especially in terms of the curve in the fixed income markets in the treasury market will knock the average growth rates should a year below trend. So let's call it one and a half percent. And in that environment. There's no reason why said would increase rates stay blitz. The you believe that the Federal Reserve fully understands and concurs with the notion that economic growth is dependent as well as the direction of asset prices is dependent on their monetary actions. Well, it's it's it's it's a great question. The short answer questions, obviously. Yes. Otherwise, what are they doing? But when you look at the minutes and talk about what are the risks to growth, they put Terry policy about four in. I is what's happening in the global economy and second is the shift from stimulus to lack of stimulus to drop off from the from the from the federal deficit, so those two factors in and of itself. Is number one and number two. And then they get into other things. So at the moment, they're seeing their policies somewhat benign. I disagree with them. And I think the reason they personal they see that is looking at the level of nominal rates against gross in the economy. And they're saying, you know money is still cheap to an air percents funds rate against four percent, nominal GDP. But you have to look at it as an adjustment you've gone from ten years of zero rates to the money markets being a viable asset and ten years is a long time. There's a lot of habits both on the borrowing and the investing side that reflects your rates and last September when the funds rate went over to we know from finance people don't react continuously they act Liang, discreet steps. Discreet step was when got. To handle on funds. And all of a sudden, the old expression is the dime. Dropped. That would have to be especially if people haven't been in the market. Well, let's talk about the balance sheet because this is where the focus is turning the four trillion dollars assets on reserves balance-sheet. What do you expect them to do with that? How much is that really affecting the shrinking of it? How much is that actually affecting markets right now? Well, I think there's two parts of that balance sheet that are that are up for discussion. Okay. So why which was in the minutes, and I'm gonna do that dismisses? But just put that aside 'cause I don't think it's relevant to this discussion, which is the impact of drinking the balance sheet and the internal plumbing Bank funding. It's an issue in this a fundraising mean anything anymore and all these things, but that's it's an issue the contingency planning. It's important, but it's not important at the moment. And what's important at the moment is that the fed is stepping away from buying three hundred billion of treasuries this year, plus whatever the banks of pulling themselves out of the out of reserves and transferring it elsewhere, which means the state has to adjust their assets by selling it affect more treasuries other that really selling but in any event, let's just say sell is to make it easier. At a time when you have a doubling of the deficit, and that means that the private markets have to not only accommodate and for what the treasury selling. But for what the thing is not buying. And that's what has the markets a bit spooked. And if you notice with the drop in yields. At the terminal level at terms damage, a ten year five to send years, the real yields haven't gone down that much of the inflation premiums dropped a lot and a real yield estate up because you need to attract that capital to buy treasuries. So I think it means a lot. And I think that it was telling that went Powell was at the last Friday, and we'll hear what he has to say today, if he if he reiterates the comments or expands upon them when he was for the first time, he said, look if any set it in the context of treasury issuance in the context of treasury issuance, if they think that the fed matters. Balance sheet policies matter they will adjust their policies, and I think that we have limited time. But I think that the first step defense gonna make taper not end, but they're gonna taper the pace of q t and they'll get a nice PR benefits from that. And maybe they go in and instead of buying seven to ten year pay, but maybe they buy some bills to try and get a little steepness back into the curve. Thanks very much for being with us. Steve blitz is chief economist at T S, Lombard speaking about the Federal Reserve and US interest rates and taking a look right now, particularly at the long end of the curve a little bit of selling the thirty years down nine thirty seconds for a yield a.
"steve blitz" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"The minutes from the December Federal Reserve meeting indicated a willingness to way to sort of dovish tilt that has given some market some confidence joining us now Steve blitz chief US economist for TES Lombard, and he joins us now by phone. Thank you so much for being with us. I'm just wondering from your perspective do think that the Federal Reserve will hike rates again this year. No, I don't and first of all happy new year everybody. No, I don't I don't think that in a hike because I, you know, you always get very interesting fedspeak with which has at the moment, this notion that the asset markets of pricing one world and the economy's different world when we all know that acid prices determine economic activity. It's how monetary policy works. What has occurred? To date, especially in terms of the curve in the fixed income markets. The treasury markets will not grow the average growth rates of the year below trend. So let's call it one and a half two percent and in that environment. There's no reason why the fed would increase rates stay blitz. The believe that the Federal Reserve fully understands and concurs what the notion that economic growth is dependent as well as the direction of asset prices is dependent on their monetary actions. Well, it's it's it's it's it's a great question. The short answer that question, obviously. Yes. Otherwise, what are they doing? But when you look at the minutes, and they talk about what are the risks to growth, they put Bata Terry policy about fourth. And I is what's happening in the global economy and second is the shift. From simulates to Alaska stimulus drop over the stimulus from the from the from the federal deficit, so those two factors in and of itself is number one and number two, and then they into other things. So at the moment, they're seeing their policies somewhat benign. I disagree with them. And I think the reason they I they see that is because they're looking at the level of nominal rates against growth in the economy. And the saying, you know money is still cheap to an air percent funds rate against for odd percent, nominal growth and GDP. But you have to look at it as an adjustment you've gone from ten years of zero rates to the money markets being a viable asset and ten years longtime. There's a lot of habits both on the borrow in the investing side that reflect zero rates and last September when the funds rate went over to we know from behavioral. Finance people don't react continuously they act reacted discreet steps. And that scripts step was when got to handle on funds, and all of a sudden, the expression is the dime dropped and that would have to be especially that people haven't been in the market ten years. But no, let's talk about the balance sheet because this is where the focus is turning the four trillion dollars of assets on hunters balance-sheet. What do you expect them to do with that? How much does that really affecting that sort of shrinking of it? How much is it actually affecting markets right now? Well, I think it's two parts of their balance sheet that are that are up for discussion. Okay. So one which was in the minutes, and I'm going to dismiss us. But just put that aside. I don't think it's relevant for this discussion, which is the impact of franking the balance sheet and the internal plumbing a Bank funding. It's an issue and this fund rate mean anything anymore and all these things, but that's that. It's an issue. The contingency planning. It's important, but it's not important at the moment. And what's important at the moment is that the fed is stepping away from buying three hundred billion of treasuries this year, plus whatever the banks of pulling themselves out of the out of reserves and transferring it elsewhere, which means the fed has to adjust their assets by selling it affect more treasuries other than that really selling. But in any event, they sell to make it easier at a time when you have a doubling of the deficit, and that means that the private markets have to not only accommodate and for what the treasury selling. But for what the is not buying. And that's what has the markets bit spooked. And if you notice with the drop in yields at in the terminal level that turns to ten year even five to ten years. The real yields haven't gone down that. Much. The inflation premiums dropped a lot and the real yield estate up because you need to attract that capital to buy treasuries. So I think it means a lot. And I think that it was telling that when Powell was at the EA last Friday, and we'll hear what he has to say today, if he if reiterates the comments or expand upon them when he was the first time he said, look if and they said it in the context of treasury issuance that in the context of treasury issuance, if they think that the fed matters that the Fed's balance sheet policies matter they will adjust their policies, and I think that and then we have limited time. But I think that the first step the feds gonna make is the taper not end. But they're gonna taper the pace of q t and they'll get a nice, you know, PR benefit from that. And maybe they go in and instead of buying seven to ten year, pay paper, maybe. They buy some bills to try and get a little steepness back into the curve. Thanks very much for being with us. Steve blitz is chief economist at T S, Lombard speaking about the Federal Reserve and US interest rates. The