20 Burst results for "Tom Keen"
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 08-15-2023 07:00
"It's six fifty nine on wall street stay with us bloomberg surveillance with tom keen jonathan farrow and lisa bromley starts right now broadcasting twenty four hours a day and the bloomberg business act is bloomberg radio there's still this widespread consensus that the euro area is going to outperform the u .s. and cyclically that doesn't seem to add up the u .s.
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 08-03-2023 07:00
"At six fifty nine on wall street now stay with us bloomberg surveillance with tom keen and jonathan farrow and lisa bromowitz starts right now have a bank of england decision broadcasting twenty four hours a day and the bloomberg business act is bloomberg radio when rates are rising and cyclicality is still out performing i think it's a message that the markets comfortable people really going to be willing to accept a four percent ten -year -old it seems so high to us because it's been so low this terrible fiscal trends are going to remain in place no central bank is stopping governments from issuing debt the options market in general is absolutely terrible at pricing political and geopolitical events this is bloomberg surveillance with tom keen jonathan farrow and lisa bromowitz here comes another rate hike live from new york city this morning good morning good morning for our audience worldwide this is bloomberg surveillance on tv and radio alongside lisa bromowitz i'm jonathan farrow some interesting moves in a bond market developing over the last twenty four hours a downgrade from fitch the united states losing its triple -a credit rating on top of that we've seen some better data in america ton of treasury supply coming to the market as well and some tweaks to yield curve control from the b .o .j. some confusing actions from them as well over the last couple of days this is from the b .o .e.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Sweeney's off today. I'm creedy Gupta filling in alongside Tom keen. He joins me in just moments. This is a quick look at these markets because you've got the debt ceiling standoff. You've got this kind of AI rally, but if you look at the surface, futures still not showing a ton of direction, not only two tenths of 1% lacking, perhaps a little bit of that conviction, but again, is that a surprise ahead of this long weekend. Stateside nevertheless features up about 7. You're looking at a vix with a handle about 18 in the bond market, seeing a little bit of a sell off, especially in front of in the front end of the curve, the two year yield higher by about four basis points four 57 on that note, the ten year yield three 82 now look a lot of this is moving off of the PCE deflator. We're gonna get that analysis throughout the program. The dollar on the other hand, perhaps not following the lead of what's going on in the bond market. We're gonna see what's up with that. And in the commodity space, you're seeing Brent crude trade with a 76 handle nymex at 72 and I love to get a quick check on that precious metal, not Bitcoin. I'm talking about gold folks 1947 there, but let's give Bitcoin some justice 26,455. That's where we are on the cryptocurrency. That's your macro picture. Let's get a little bit of the micro with just mint and Jess. Well, Kari, you were talking about AI, so it's going to give you another update on what's happening there, particularly if you're looking at marvel technology, so let's ticker symbol M RVL. So let's stock surging more than 17% pre market. The chip maker did say that it does expect AI revenue to soar this year, so it is trying to capitalize on what's happening with the spending boom. That obviously that we saw within video, right? Yesterday that had its stock up more than 24%. If you're looking at Nvidia though, this morning ticker symbol NVDA trading a little bit little changed after that surge yesterday, obviously, on the back of that forecast we saw in the middle of the week, thanks to that surging demand in an AI boom. I wanted to move over and look at what's happening in the retail space because that has continued with the earnings, especially this morning looking over at what's happening with gap that ticker symbol GPS rising close to 10%. It did have cost cuts that really helped improve its profitability and we've seen a number of these, especially in the retail space as you know creedy after last year, a lot of them of course coming under pressure, particularly in the discretionary type of sector, and we did earlier this week we heard from abercrombie, Urban Outfitters, American Eagle as well, that did have a better than expected results. And then this comes on the back of last week, obviously hearing from target that did boost its annual outlook. Even hearing from Walmart two, despite warning about a little bit of a cautious consumer there. And we will hear from Nas and Nordstrom next week to round out a lot of those retail earnings. Another one I wanted to point out, though, this morning, Ulta Beauty ticker symbol U LTA, those shares dropping about 10%, so looking at a different kind of segment when it comes to beauty products, retailers. What happened there was it did temper its annual operating margin outlook and it also did flag an increased inventory basically shrinking related to the theft at its stores that stock was already up 3% year to date, so once we go beyond pre market, probably erase those gains this year, greedy. We're talking lobster rolls this morning. Do they have lobster rolls at College Station Texas? I worked at red lobster, thank you. Up here dear red lobster's not considered a live tour. That's a resume builder if I've ever seen one. Somehow got me to Bloomberg. What is a lobster roll? Red lobster run. Like $9 99. I mean, this was a while ago. Okay, it's just gonna say a little bit different at that time, so. It just met and thank you, thank you so I'm gonna give you that pretty about that. You know, she's probably a chilies or something. Going down in flames here. I'm gonna pause right now, folks. And I want to celebrate, and she doesn't know I'm doing this. Margaret and I don't talk before we talk on Sunday. But I'm going to bring in Margaret Brennan right now with face the nation. You can see it in the CBS television network. Because there's an ebb and flow to what these Sunday shows do and what's so important. And this goes back to the heritage of black and white TV way back. Is you look at the beginning of the show and then across some of the nation they don't see the second half of the show. Mary Hager could explain it to me who runs the world over there. But Margaret Brennan congratulations on just what you've done in the last three years, four years, 5 years. To make face a nation lead the Sunday parade has been extraordinary. What was the theme that you wanted it face the nation to get to the ratings excellence that was released for 2022? Tom, thank you very much for those kind words and I agree, Mary Hager does run the world. I think what we've done is just go back to the fact that we are in such a tremendous news environment. We just have newsmakers newsmakers newsmakers and focus on the substance. Just talk to the best people. It's true. That's the first thing top said to me when I met him is it's all about your guests. It is. It is. And providing a value at the end of the conversation where someone learned something. Bloomberg's great at that. I love that. Margaret, let's talk about this weekend is a little bit induced flow wrapped around a are you going to get McCarthy and the president in the same room? What are you going to do Sunday on face the nation? You know what they will have to be in the same room. I just want them the same room as me so that I can interview them on Sunday. We are certainly asking. The contours of the deal seem to be coming together and have been put out there as you've been reading in terms of this two year deal that looks like it's coming. To fruition potentially, but the two go sideways fast, the politics are incredibly tricky, as you know. And so
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"This is Bloomberg surveillance. We're definitely seeing resilience in the U.S. economy, the labor market still strong. I think how is usual is going to wind up having to let phones in our jobs come out. That follows showing up in full force already. Trying to sort of engineer soft landing, I think is a very delicate dance. I think we probably not seen the worst of it yet. Bloomberg surveillance with Tom Keane and Paul sweet on Bloomberg radio. Good Tuesday morning from the Bloomberg interactive broker studio in New York City to our worldwide audience Tom keen is out today but not to worry as Lisa, but I'm just sitting down in her seat. She'll be sitting in for Tom for the next hour here in our Bloomberg interactive broker studio. Equity futures. They point to a low open this morning after a positive move yesterday yields, they push higher than ten year treasury yielding 3.5%, 5, 6%, and I'll note that the two year note is yielding 3.96% so we're certainly on the 4% watch there in the yield curve remains inverted by about 40 basis points here. So I'll keep an eye on that as well. On the commodities front WTI crude oil is steady at just above $86 a barrel gold. Slightly lowered about $1675 an ounce and Bitcoin, it pulls back and now trades it just above. $19,000 per token. Bloomberg smiles today is presented by cone resnik. Advisory assurance tax visit Conrad's next C suite dashboard to get the insights and intelligence you need to stay ahead, visit. Cone resnik dot com slash C suite. Let's get some more color on that pre market trading activity due to that with Bloomberg markets correspondent and pretty good. They're pretty, what do you have? Well, one of the major corporate stories this morning, Paul, is Ford. The shares are dropping down at 5% of the pre market. It's just the letter F for the ticker. And this is interesting. It comes as you start to see the inflation warning. We've been hearing this from FedEx for McDonald's from Alcoa, and a lot of this really puts so much pressure on the earnings season. We've been talking about the fundamentals, the macro, so much. And now we're talking about the nitty Gritty Ford specifically saying they are warning of $1 billion and added costs. They're talking about that stubborn inflation. And remember, Ford has also been trying to ramp up their electric vehicles business I drove the Ford F one 50 lightning baby for four days. It was awesome. Yeah. That was the Matt hookup. Yeah, the mad hooked me up with it. He has yet to do the same for me. He must like you better. But he claims that it's because I have no garage. I don't think that's an excuse, but whatever. To the point though, electric vehicles, which is the ramp up that they're really looking for, they also get tax credits, a lot of government incentives from it as well. Well, that costs a lot more to develop. You have extra chips that go into electric vehicles. You have cobalt, lithium. A lot of those commodity expenses, that's exactly what Ford is warning about. Their third quarter earnings could be below their prior period, not just a myth and actual contraction, actual deceleration in some of their auto sales. They're also saying that the shortages could result in 45,000 partially built vehicles. Paul, where do you put partially built vehicles? You park them in Mexico. That's what happened to Matt's truck. Yes, and then it takes ages to come because there's a potential rail strike and there's a million issues and they just get stuck places and that was something when I was doing some field reporting on rails is they just had lines and lines of trailers with brand new vehicles that were just on the sidelines. It was wild. Paul, how much extra information have you learned about cars and Carmen since co hosting with Matt? I know what a naturally aspirated engine is. I don't know. Did you want to ever know? And now we've got a Porsche IPO, so it's certainly front burn. Oh yeah, say it's a big car day. Anyways, GM also following in suit GM is the ticker down 1.7%. I'm going to leave you with that with just the car stories. Car stuff is good. Critic Gupta Bloomberg markets correspondent. Thank you. We appreciate that. Lisa brahmo, thank you for sitting in for Tom you spent the week in London, which was a great reporting you guys did there. So now you're back. But Tom gets a special travel day. He does get his first travel day and no one's resident. Was he taking like the Queen Mary back or something? Go on some sort of royal cruise compared to New York City. No. He's going to come back so he can be with us tomorrow for the fed's special. But now that we've had that reset, we'd sort of back to reality and you get the Bank of England decision you have Liz trusts coming to the UN and dealing with some really controversial issues. Yeah, yeah, I'm just looking to defeat here on the Bloomberg terminal here just the folks kind of coming into the United Nations in New York City. So we have two days of gridlock here in midtown Manhattan. Let's talk about those rates. We got the we're going to hear from the fed tomorrow of course. We talked to Angelo mano latos. He's a Bloomberg intelligence interest rate strategist. He works with our good friend. Ira Jersey, who is notable phone or inner, but we got Angelo in our Bloomberg interactive broker studio. So Angela, what do you guys, 75, even for people like me, Lisa told me at 75 basis points tomorrow, so I'll go with that. But what do you guys look for in terms of the commentary from the fed chairman? Maybe the body language. To maybe how they might be thinking post tomorrow. Yeah, so I think post what we saw after the July statement and I think and what we've seen subsequently from there in terms of the full core press we saw from very hawkish fed speak Jerome Powell address at Jackson hole and then to the Cato institute very unambiguous all out inflation fighting mode that hasn't changed and I think we're gonna get more of that this September. So last meeting there was the more so the concept of front loading, the concept of we're at this level where we think is consistent with neutral, but we have to get more restrictive. So I think this time they'll take a lot of that commentary that could potentially be construed as dovish off the table, so a lot less ambiguous fed for sure. So a very hawkish and clear message is what we expect from Jerome Powell. Angela, are you surprised by the pace of the two
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Radio alongside Tom keen and Lisa bran but Sam Jonathan farrow. We pause now for a moment of silence and remembrance of Queen Elizabeth II. Westminster Abbey's tenor bau, and the St Paul's Cathedral will ring over the city for the next hour. Not quite. The nation in the morning after losing the longest reigning monarch, Queen Elizabeth II. King Charles the eldest of Elizabeth's four children will formally be proclaimed the king at a ceremony dating back hundreds of years at 73 as you've heard repeatedly over the last day or so. He becomes the oldest person to a seed to the throne in a British history. With Tom Keene and Lisa Brabham, Jonathan farrow, got a lot to do over the next ten days. So I'm going to work through ten days of morning in this country. Stay on top of the markets as well and think about the future of this country in a very divided world. There's Lisa mentioned earlier, the moment here, the shock of seeing Liz truss with that hugely diverse and original cabinet being greeted by the queen and her little inner final hours of fragile 96 years old and the backdrop of this is we witness in the cold world of Bloomberg by say Sterling is a backdrop of crisis. There have been other crises in the country, the country will endure, but it is if a script was made of crisis at this moment. Joining us now is guy Johnson, guy we've talked a couple of times already this morning about the next ten days. Can you walk us through it again? What the next ten days will look like in this country. There'll be a lot of ceremony. I've just walked past 7 RHA 7 royal horse artillery forming up just
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Terminal or above 4% terminal. So that's key, but pricing in doesn't mean we get there. By virtue of pricing that in, that's a typing in financial conditions. If that contain inflation expectations as well, we don't have to get there, but that process needs to run the course and we're not there yet. Jeff, you thank you so much generously here to join us for this extended visit. He is with BMG Mellon. He's watching what I'm watching, which is the Pacific at rim. We need to stop now midway through our bank extravaganza with Chanel Bassett and I really take issue with yeah, I get it, the short term good news report on Citigroup I get. Let us remember that this was a train wreck and Jane Fraser is picking up the pieces. This was a, this was a one for ten reverse split, a zillion years ago for fossils like me of $44 stock. It's really $4, 41 cents. If you look back to 2007, it's basically the other banks with moynihan coming on in city group an absolute train wreck and the Chennai mentioned earlier where you see it is in book value that ancient ancient old world at ratio. Less than half book, JPMorgan premium priced 1.25 book and even dog of dogs. Good morning John stump. Wells Fargo of almost out here one times book. This shows the task, Jane Fraser has. Again, it's pretty amazing time how quickly she's starting to pivot the bank. How's she doing it? She just screaming? Well, listen, the investors initially. Sandy Bernstein, where she's up on the table, running around the table screaming at people. She has a different style. What's the style? It's an effective communication style, and she calls it the school of empathy. And so that is a very different style from the Wall Street of all as we all know. But it is an effective communication style where she's taken thousands of employees, Tom keen is laughing at me, but it is a different type of lack going to be in this movie. You can ask her who she wants to play. Mark mason especially because her and Mark mason the CFO, they operate as a very tight knit group and they are aligning thousands of employees around them. Are they just cutting costs? It seems like no, or pixie doesn't. They've recently also said that they are going to be spending also not just to exit certain operations, but you see it in the fixed income numbers. You see it in the advisory numbers. You see them beating on expectations and advisory where many have failed. And again, they have a long way to go. I don't want to overstate this. However, their investments paid off at least for this quarter. Well, let's go to the professor at the school of empathy. Lisa abramo it's for observation. Thank you. The school of empathy. Thank you, Tom. I want to pivot to retail sales. I'm just going to totally go and do another trick. Thank you so much. I do want to just take a look at what we're looking for in terms of retail sales. The expectation, the headline number for the control group is for a gain of 0.3%, which trails inflation, Tom, it will be really compelling to look at the gas expenditures mixed with some of the other expenditures and how that parses out to indicate how much people are deciding what they buy, given the prices elsewhere. McKee's way better than this folks, but Lisa brings up the key point here, which is like a lot of other statistics. These are really inflation phased inflation adjusted inflation beaten up, but we'll get that retail sales and Michael McKee will give
Bloomberg Radio New York
"tom keen" 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
"tom keen" Discussed on Bloomberg Radio New York
"Good morning I'm Karen Moscow along with Tom keen and creedy Gupta and stalks are lower at the open the S&P 500 down 1% or 40 points at 42 47 The Dow Jones Industrial Average down three tenths percent or a 109 points at 33,813 And the NASDAQ down 1.2% down a 155 points at 12,715 And your treasury down 27 30 seconds yields 2.92% They yield on the two year 2.74% Nymex screwed oil is up 1.1% up a dollar 17 at a $106 54 cents a barrel Comex gold of 9 10% or $17 40 cents at 1908 70 ounce The Euro one O 5 three zero against the dollar the end of one 30.3 And Tom and creedy Karen thanks so much And I'm going to really follow on in currency there with Karen And DXY a one O three level is sustained It's not where it was record level But during this week we have seen a sea change shift in foreign exchange with Jenna won 30 level and Euro as Karen just mentioned one O 5 26 not a one O four but weaker Euro weaker yen you get the picture Joining us now there's someone there are Hilton Hotels in America There are 2244 And only pretty Scott wren of Wells Fargo has visited every Hilton Hotel in America and done a conference with people about investment He is the deserved senior global market strategist for Wells Fargo investment institute and joins us right now Scott more than anyone I know you know the pulse sweat It's out there I'm lost Are people scared stiff or are they waiting to load the boat on Amazon Which is it Well Tom I think they're pretty scared And that encompasses some professionals as well So our retail clients scared yes they are They've been scared really overall for quite a while So this is really nothing new and I think the way retail clients typically work and it works to their detriment in the long war on is it makes them frozen They have funds that they eventually want to put into the stock market and when they have the opportunity they may say ahead of time yes when the opportunity comes I will act but then when it shows itself they freeze And that's always a problem Ren walks in the room lights camera and he goes let it go Let it go It's just something to see him do that Hair and a brain And a Hilton Hotel Scott what's so important here about let it go.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"With us pretty Gupta and Tom keen this is Bloomberg A lot goes into taking care of your property You need equipment with more reliability durability and versatility built in like number one selling to vote a BX and L series compact tractors Z series mowers that deliver a quality cut and sidekick utility vehicles for durability needs speed Visit your local Komodo dealer for a demo today Visit go Kabul to dot com for a dealer near you JIT New Jersey institute of technology makes innovation happen The university helped biomedical engineering professor Tara Alvarez launch a startup that may revolutionize vision therapy Our startup through NGT is called ocular motor technology We create virtual reality vision therapy in a head mounted display So it's gaming and basically sugarcoating the therapy so that children and young adolescents don't even realize they're doing therapy To accomplish this we need biomedical engineers which are here in on GIT campus computer scientists artists people that are into story development and then we are collaborating with a lot of the large pediatric medical centers This idea of a startup culture is extremely important to not just NG IT and the national science foundation but also to.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Thinks it's all of Europe already That is his mindset I'm a tremendous work awesome as always So looking forward to catching up with you in a couple of hours time around the open and balance we talk about some of those oil execs Big oil going in front of a House subcommittee a little bit later this morning I believe at about ten 30 Eastern Time We also need to catch up with the former New York fed president Bill Dudley Tom keen of course the Bloomberg opinion columnist He's going to join us in about 5 minutes on his latest piece One of his most forceful pieces There's been a set of them and Johnny doesn't miss any words of the ramifications of any set of 25 or 50 basis point rises a dovetails nicely with what we heard from loud brainers yesterday They've got to get restrictive bramo and at this level clearly they're not And given where financial conditions are clearly the idea of Bill Dudley is that they've got a lot of work to do I'm thinking about what mister kroner said over at Citi just earlier that if real rates turn positive that's a game changer And you really were pressing him on this and rightly So all of a sudden cash becomes more appealing Is that what the fed has to do Do they have to get real rates to zero They certainly seem to be indicating that that's been the response in markets The vix with a little lift again this morning Tom just a little bit of a lift a breakthrough 23 There are 30s the pain level and we got to an 18 end that we come back 18 19 John to 23 and it shows a doubt futures negative two 13 and you know I look at the job John the Dow 34,303 is it's that kind of day And the vixen percentages Yeah it's a kind of day I mean the vix is 23 People watch this program.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Let's call it 6 basis points I mean that's a flat yield curve If I asked Lisa Brahman she would tell me yes Paul that is a flattening yield curve Almost as flat as you can go we'll see that follows the fate of the 5 30s and gets to negative territory Not very far away at this point Yeah interesting stuff Bitcoin pretty steady here just under $48,000 for token Tom keen's not here so we can quote Bitcoin Right now let's head down to Washington D.C. for world and national news with Nathan Hager Paul Russia says it will cut back military operations significantly near the Ukrainian cities of Kyiv and chernihiv and its open to a meeting between presidents Vladimir Putin and volodymyr zelensky These apparent concessions come after the first round of peace talks with Ukraine in more than two weeks we get more from Bloomberg's Maria today For the first time we see that the Ukrainian delegation and the Russian delegation walk away with the same conclusions Remember every time it was a very different picture or the two sides would be very far apart This time it does seem that they attended the same meeting and they agreed in a number of issues Bloomberg's Maria today The White House says President Biden will hold a call on the situation today with the leaders of France Germany the UK and Italy the president meets in person today at The White House with the prime minister of Singapore President Biden may have aimed his budget proposal at moderate Democrats but one of those in the Senate has already come out against a key piece of it Joe Manchin of West Virginia says he can not accept a 20% minimum tax on unrealized capital gains for households that make more than a $100 million Bloomberg's Joe Matthew reports Manchin is not the only Democrat pushing back The chair of the House ways and means committee Richard Neal apparently is not in favor of this kyrsten sinema is not about to vote for it So it's unlikely that this goes anywhere Show Matthew in Washington 457 minutes That's how much is missing from The White House call logs turned over by the national archives to the House committee investigating the January 6th riot at the U.S. capitol The Washington Post and CBS News both say they've obtained those documents They say the 7 hour 37 minute hole covers the entire time that a mob of former president Donald Trump supporters stormed the capitol Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts and more than 120.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"That's now coming back down to 1 32, and it has looked like sense. Jackson Hole, It was rising from 1 26 and headed for 1 40. Where do you see rates and why Well, I mean, yeah, they have been climbing here. It's very interesting because we had that that period from last August, August 2020 through march where? Obviously they were trading higher from his, You know, crazy, historic low level. And then, of course, we went for four or five months there from March to early August, where it was going down. Now they're keeping back up. I think they're poised to go higher. I mean, this whole issue with inflation, I think as a big concern, and I'm looking at the 1.37% level. That was the high. We saw a couple of times in August and once just a little over a week ago, But the real number going to be 1.4 because you always need to see more of it more than just a slight move above any key resistance levels and 1.4. That's gonna be a problem. I'll pose a John Farrow question for you. Do we get to 2% or 1% 1st? Well, I mean, the thing is, I definitely think we get 2% 1st The one thing. Of course. We're in the seasoning, a tough time for the stock market. People get worried. If there's a you know a severe correction rather just a mild one. You have flight to safety. That may take us down to 1%. But I just don't see that from happening. I think we could very well see a correction, but not one to say that that low and then and I do think that Right. I think the changes we get above 1.4% in the 10 year. That's kind of a signal important change in the near term trend for for interest rates. That's going to be important him at you know, markets equity markets hitting a new high, seemingly on a daily basis, Yet we've seen Tom Keen this morning was just pointing out in his Email inbox over the weekend. A lot of Wall Street strategists getting more and more cautious here. How do you think about these equity markets again? This wall of worry? Everybody's been climbing it. But are we getting a little too hungry has been called. Yes, exactly. And, yeah, it's funny because there's more people get more concerned. You tend to see that there's too many bears around, and that should actually be And you know, uh, contrary contrarian indicator and when the big bullish for the market But I do understand why people are coming more concerned. I'm just thinking and I'm in that boat. I mean, look at just what we saw again today with the market opened very strongly and now it's sold off its not down, down and unchanged..
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Emery, who ordered joining us now to break down a lot of this data. What's going on The market is Peter Shafik, RBC Capital Markets Global Macros judges. What camp are you in? Peter when it comes to inflation, are you on the Fed's side that this is something temporary and fleeting, Or do you think that we could have price pressures for a bit longer? But to be honest, I think there's an element of truth in both of these sides, because when you look at what the fat in fact, most of the central banks are looking in the here and now it's supply disruptions and the basic facts that come from particularly oil but also the energy markets. I mean, some of that element is going to be temporary. There's absolutely no doubt about it. But then the question is That would be inflation pressures too strong a word, but how the inflation dynamics unfolding there after I particularly in an environment where interest rates is still relatively low, A public spending is relatively high. Or we have initiatives about new industries that just a green revolution and all these type of things, and I think there is an element here where we can say that maybe And these strong disinflationary pressures that we had before they have come to an end and they give way to something different, so it doesn't mean that we have to go back straight into what became from before the pandemic broke out. Hear more conversations like this one on Bloomberg television streaming live on Bloomberg dot com. On dawn, the Bloomberg mobile app or check your local cable this things This'd app Irish. This is banditry in a space and if this is tolerated by Lukashenko, it could happen everywhere in the world. So is that strength to global as to the safety security. Global ass face everywhere, so firm action has to be taken. What can be done? I think they should excite her Bella Rosa Space phone safe. One should not fly through Belarus our space because you might be some picked a hijacking, or God knows what this man is capable of doing. It is the story of the moment that was car built the European Council on Foreign Relations Co chair from New York City this morning. Good morning alongside Tom Keen. Lisa branded some Jonathan Farrow is the price action going into the Monday morning cash open one at 12 minutes away Equity Futures up 20 We advance a half of 1% Your bond market comes in about.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"The first phase is just normalization. Hey, what is historically a normal interest rate. Where should bond yields be wishes? The Fed funds rate B. You want to call that 2 2.5 3% pick a number. It doesn't matter that can be a effectuated gradually over time, especially if the Fed gives lots and lots of notice that hey, lower for longer is now lower for shorter and not so love. The more challenging part is gonna be one day off in the future, theoretically will see inflation start to rise. I think Wall Street economists are wildly Miss timing that it is an imminent There's so much slack in the labor market. Even with the rush of pent up demand, you know they'll be some transitory inflation. The bigger question is what happens in 24 25 26 when you start to see more systemic inflation working its way in Will the Fed have the carpet courage of its conviction to go from zero to normal and then from normal? Tightening where they're legitimately using rates to restrict inflation. And that's still years off was years off. And yet people have long term portfolios that they're trying to arrange and manage. Right now. I know you talk with them. Very. I mean, what do you recommend? They stay away from 60 40 because of this conundrum that the Fed faces later on. What do you say? You know what That model has worked. Stick with it. We don't know anything better. Well, you know, you don't have to be married to 60, 40. And given where yields are, you could look more. It 70 30 on the ultra high end on the high net worth. You could look at things like structured notes. If you're looking for yield than if you're in the right state municipal bonds in a in a taxable accounts, certainly And make up some of the yield issues. Keep in mind the key purpose of a 60 40. Yes, Yield, and coupons are important, but the volatilities dampening the ballast to offset your tendency to panic. And, as Tom said, moved all cash. You know, the triple livered cash portfolio was not appropriate for people in their thirties or forties. They just have too long. Oven investment horizon. But when the market's down 40% and you're all equity, you're down 40% and a lot of people simply way live with that. Very are you endorsing Tom Keen's triple effort? Cash powerful, You know, you telling him this is the right thing for him right now. So the optimal portfolio is not the one that generates the highest return. It's the one that you can live with, not wake up in the middle of the night feeling like you need to throw up and then liquidating the next day. And missing. Think about how many people never got back into the market. After all, we don't know We were getting emails 2011 2012 2013. Hey, I panicked out in 2000 and eight and when you went back in and Oh, nine. I thought you were crazy. I need help. I'm I'm in Tom Keen's triple old cash et f. It's much more challenging toe right out on all equity portfolio. Then having a 70 30 or in 80, 20 or something. That means that when you see the s and P down, 40%, you're not down. 40%. We're gonna leave it there. Barry. Thank you so much. I got eight other things to talk about. We will Consider that into this week with very rich Holtz, of course of Bloomberg opinion, Lisa really into me a seismic shift day. This is not a normal beginning of the week. No, because you're getting those record highs. But you're also getting a significant move in benchmark yields a significant move in the expectation of inflation and, frankly, everything rally very much hitting commodities and their different drivers of everything, Tom, but it's leading to this belief that their inflation trade can lead to a happy ending. Where you end up with just a soft landing and everything just moves on after the pandemic. That's wonderful soul, thanks to Rob Caroline, particularly for his work short notice on the cold across the Midwest State. Warm out there. Kim Wallace Thing, CEO and founder of Camel all settled beyond 10 O'clock hour this morning, Please stay with us on radio on television. Through the day this, his Bloomberg Hey, yeah. All your food is out there. I'm unwrapping a McDonald's.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Tom Keen, Jonathan Ferrell, these Abramowitz and the names that chic the world's markets speak with Professor Schiller of Yale University Bloomberg Surveillance. Listen today at Bloomberg Calm the Bloomberg business half or subscribe on Apple podcasts. Asset managers who sees changed the launch new strategies at distribution channels or exploit new technology to re engineer. The investor experience are often rewarded, however, in an inn. District, paralyzed with complexity of you act with agility or decisively view around their businesses. Strategically yet the most competitive managers in the market no with the right partner and a flexible operating system, you can go boldly toward change with S E I investment managers, services, determination and operational strength or both essential factors for growth and asset management. I'm Steve Meyer, president, Head of F C. I's invested Manager Services Division way know that disruptive forces create opportunities around the world. If you see potential and change, our industry specialists will maximum I guess you guys integrated platform of that Everest management. Global investment operations complied. Support Investor services position. Your asset management business for success. Come grow with us. We s CI investment manager Services. You leave the charge in a competitive marketplace. Learn more at S t I c dot com slash sees change. There are everyday actions to help prevent the spread of respiratory diseases. Wash your hands. Avoid close contact with people who were sick. Avoid touching your eyes, Nose and mouth. Stay home. When you were sick, Cover your cough or sneeze, clean and disinfect frequently touched objects with household cleaning spray. The more information visit CDC dot gov slash covert 19. This message brought to you by the National Association of Broadcasters and this station. For the Jewish communal fund past President Knoll Spiegel. People often.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Your global financial warriors is a classic textbook a lot of political experts. If you were advising the president of states, what's the thing that he's not doing? That you should do and lucky for you? We know a lot of science experts to you talked about those re agents, which are necessary for the testing. It's also the behavioral, psychological approach. Bloomberg Radio. The Bloomberg business happened. Bloomberg radio com Bloomberg, the world is listening economics. All this doom and gloom was out there financed. You see, this is a technical correction. Investment. What do you looking at? Give you some sort of compass. Through this period, the Bloomberg surveillance podcast lots and lots of talk about what the Fed should and shouldn't do. Tom Keen, Jonathan Ferrell, the cerebrum boys and the names that shape the world's markets speak. Good Professor Schiller of Yale University. Bloomberg Surveillance. Listen today at Bloomberg, Calm the Bloomberg business half or subscribe on Apple podcasts, the markets in Focus every Business Day, The Bloomberg Markets podcast with Paul Sweeney and Bonnie Quinn. There's some sectors that you want to have more or less exposure to market selloff. Feeling global, once again analysis of the day's Wall Street action. What's the thought on Apple here from Bloomberg Intelligence, Bloomberg opinion and influential newsmakers very, very disturbed. Been done on this network Bloomberg markets with Paul's Weenie and Funny Quinn's subscribe today it Bloomberg radio Com The Bloomberg business at four I tunes. Even his country's begin.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"Are they valuable? Adaptable? They have been look, look what corporate America is done even last 10 months in addressing and dealing with the pandemic. And I think we're all kind of fascinated how technology has allowed us to function in ways that we would not have been possible 10 years ago. About great to catch up, as always. The last left a bitch there of city. If you do get in touch with the bias anytime soon. Don't ask him when he's going to raise his price target. I'm sure he's sick to death of hearing that question over the last several months, and for many people when these price targets were made, Tom if you take Barry banister over it, Steve full just after the election, he said six month called 3800. We got there in three months. That's how quickly this market moved after the election. When the vaccine news came through. I actually looked at the log slopes today, John and of course, NASDAQ 100. We all know is a true moon shot, but It's amazing the small cap leap, John while you were away on sabbatical. It has just been an out of body condition. I haven't gone back 30 40 years to look at that perspective, not the sabbatical. The move in the small cap stocks But, John, I'm just a nice that you waited 25 minutes in the Savannah president by negative for President Biden. You know, I wanted to give your brain a day for you, Tom. You know? Well, you must be overwhelmed by tradition down in Washington. Hold back for 25 minutes. It's not your city alongside someone. That's what you condemn Release of Rabbit. I want Jonathan Farrow tolerated Tom keen for the next four years, maybe.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"The end 103.87 and, of course, big coin at $41,344, the U. S labor market losing jobs in December for the first time in eight months, nonfarm payrolls decreasing by 140,000 from the prior month. The unemployment rate was unchanged at 6.7% holding his string of seven straight drops, and that's a Bloomberg business. Flash Tom and Paul Karin Thanks so much Paul Sweeney in Tom Keen, and, of course, here from the Bloomberg Interactive brokers studios. And we say thank you to interactive brokers for their supporters to all of you in this tumultuous week. Paul Sweeney. We are advantage at the Bloomberg intelligence You helped build. How did we find Sam Fazeli? Paul, Sweetie? I mean, you know it. Was he often Internet website. Yes, I think so. Yeah. Someone you walked in, walked in off the street. I think Tom So Sampras, Ellie joins us Bloomberg intelligence pharmaceutical analyst. He's one of the best in Europe. Hey, also manages Bloomberg intelligence across all of Europe, and somehow he finds time to write some Blue Merc opinion columns. On the pandemic and on the pharmaceutical industry and how those two are interacting. Sam. Thanks so much for joining us. I know you're somewhere in the French countryside today. We appreciate you taking the time. Talk to us about Sam, Mo Derna. Looks like they're vaccines being cleared in the UK and boy do they need it? Is Paul, and it's always a pleasure to be talking to both you and Tom. Yes, we do need it in the European Union has finally approved it. It's completely expected. I I didn't. I didn't think that they would take time to do that. So the UK is approved it so that is where we now see the extra doses. Another 10 million doses added to the seven that already had 17 million. They definitely have enough doses to get seriously vaccinating. So, Sam, Where are we? You know in the us, we've you know, we've been frustrated by the inability I guess. Toe, get the shots into the arms of people. You know, we've had X amount of deliveries, But a very, very disappointing percentage of those deliveries have been put into people's arms. Give us a sense how things are in the UK and maybe in Europe. Yeah, the U. K seems to be doing a little bit better than most of the other countries and regions you mentioned. We have, according to the wonderful Bloomberg covered 19 vaccine tracker, 2.23% or 2.23% of the population vaccinates already in the UK, but remember Paul that they're taking a slightly different approach. In that they're using off as many shots as they can't vaccinate people. First dose and then go back later, which I have worries about as you know to do the second to do the second those 12 up to 20 years later. So they have done a lot better. Israel, of course, is the one that leads and us is not enough badly. 1.9%. So, what is Israel going so well? Sam? I've seen the reports of that. What are they doing differently? Yeah, I think the system is a lot more amenable there. It's obviously it's a tiny state in terms of what they're doing, but that should be reflected. Then, in the size of Healthcare facilities that they have professionals and they have. I just think that they have, um or, um, assuming a compliant population, and they mobilized.
Bloomberg Radio New York
"tom keen" Discussed on Bloomberg Radio New York
"So much for joining us, a former chief of staff for President Bush thrilled to have him in to get Republican perspective this morning, Lisa your thoughts in that conversation and really pulling it back to the response that the senator from Utah got yesterday. Well, the question of who is the leader going forward here and how that leader operate with the Democratic leadership currently That is going to try to push forward some fiscal support. I mean, just speaking from the markets perspective, moving past the politics. That is really the main question. How much support are we gonna pump into an economy is still very much beset by this pandemic, Tom. And of course, you saw the financials really move yesterday. I mean, I think one of the great shocks there was small cap movement and in banks leading hire a swell this idea that more physical support is going to spur growth. Is going to spur inflation. Tom, I do wonder how much longer term inflation and growth we can really get with money that for all intensive purposes, still is plugging a production gap from the pandemic that is really, really drawn everything to a halt. There's been some good are reading on that and writing. I should say as well about the application of all this debt and where it's going. Let me do a day to check right now, As we move forward through surveillance. Lots of good voices coming up is well features up. 14. I need to give you levels because I've lost perspective. 37 55 SPX. I only did that for John Farrell I know is watching and Capri Dow 30,000. 800 NASDAQ important Over 12,700. It's a melt up. Please stay with this assignment, Kissed and Bloomberg Radio Bloomberg Television Lisa Abramowitz, Tom Keen and John, uh,.
Bloomberg Surveillance
In New York City hot, steamy four day - Ga Test 2
"There's gonna be a lot more unemployment coming on a ship from what was temporary unemployment into permanent. To some degree. These companies are now starting to hunker down for a longer, more protracted recovery on so they have to right size. Their business is not gonna turn on right away, and we'll find out some things that were turned on, and we turned back off for a little while. It's gonna be bumpy. Mrs Bloomberg Surveillance with Tom Keen, Jonathan Farrow and Lisa Abramowitz. Good morning, everyone. Jonathan Farrow, Lisa Branson, Tom Keen on Bloomberg Radio, Bloomberg television Worldwide hot and steaming in New York City hot, steamy four day conversations in Europe to some level of success. We'll talk about that in a moment. And then, of course, the stimulus discussion and Washington and all this wrapped around A market that will never, ever ever go down Futures up 25 down futures up 1 86 We have a 23 print and the vic's now John just to go to the equity markets for one teensy weensy second. I know you want to talk Europe. I mean, come on, John, 32 to 23 on the vics is really something. It's an equity markets got away from so many people, Tom, particularly big tech side to see the nasty 125% higher through 2020. Amazon, up 70%. Microsoft Apple Up 35% We have had Monster moves and the South side has struggled to keep up through all of it. John your thoughts on Europe use did a tour of duty in Frankfurt, Germany, Viscerally felt that tension on the continent. How historic is this? A story? Important moment, Europe has demonstrated or demonstrating that they can borrow what the commission level and distribute grants the places like Italy that was unthinkable in the last crisis. What it's what many people wanted to see. I don't think it's that golden bullet, though, Tom, this is not the end of fiscal integration. This is part of the journey. And that's how you should view it. It would take a while for this story to build the keyword here, though, is crisis. It took a crisis to take this step forward. I imagine it might take another crisis down the road to take the next important step forward for the continents are Maria today. Oh, in Brussels. And of course, it's been an exhausting for days. Lisa Bram. Once I look at all that's going on. And really the fixed income market is the litmus paper off this system. What of the spread Barca do off this agreement? Oh, well, you can see that there's definitely risk on and it