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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: A single best idea is that today was a head

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Speaker 2: spinning day, from the Pentagon press conference to all the newsflow,

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Speaker 2: the various presidential truth social moments, just back and forth

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Speaker 2: in prices moving to give you one little window into

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Speaker 2: how unusual this war is. In pricing we had Bloomberg

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Speaker 2: are fierce about correct data today on the global oil

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Speaker 2: price because the futures are flipping tomorrow. There were two

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Speaker 2: oil prices. One was what was called the generic price

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Speaker 2: one hundred and eighteen dollars a barrow, and the other

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Speaker 2: was the actual Brent crude price, the actual printed future

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Speaker 2: that comes out, which was ten dollars ten dollars less.

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Speaker 2: I have never seen that in well, in excess of

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Speaker 2: forty years. It is an extraordinary moment. We forget the

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Speaker 2: movement of data and the flow that's out there, all

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Speaker 2: of that because of a war. Lindsay Newman is at

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Speaker 2: G zero Media and also at King's College in London,

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Speaker 2: where the study of war is front and center. Professor

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Speaker 2: Newman on the president and the moment at hand.

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Speaker 1: He started his administration in the second term saying that

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Speaker 1: he envisions himself as the peacemaker and unifier. That's going

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Speaker 1: to be his greatest legacy. That was from his inaugural address.

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Speaker 1: We all know, of course that he has these incredible

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Speaker 1: ambitions around the Nobel Peace Prize, longstanding ambitions, and one

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Speaker 1: of the questions I get asked most is how could

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Speaker 1: Trump have run a campaign on ending forever wars and

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Speaker 1: being this peacemaker and unifier and yet find himself throughout

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Speaker 1: the world really not just in Iran, but of course

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Speaker 1: what we're watching right now is Iran pursuing force and

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Speaker 1: force how do you score that? And I truly think

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Speaker 1: that he envisions the way through to lasting peace in

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Speaker 1: the Middle East, a rewriting of Middle East history is

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Speaker 1: through this operation epic theory that they have been pursuing

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Speaker 1: for the last five weeks.

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Speaker 2: Lindsay Newman of King's College and G zero Media a

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Speaker 2: lot of good guests today. Merrith Whitney was absolutely brilliant

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Speaker 2: on the durability of our leading bank CEOs. We focused

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Speaker 2: on mister moynihan and mister Diamond. I thank her for

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Speaker 2: her time. Eric Fine came in today from Van k

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Speaker 2: We spoke to him about emerging markets. Really really interesting

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Speaker 2: given the changes in inflation. Here Eric Fine on the

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Speaker 2: distinction of DM and EM.

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Speaker 3: For DM, it's largely a quote unquote risk of inflation essentially,

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Speaker 3: whereas for EM there are plenty of winners. Most of

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Speaker 3: my countries in our benchmark are commodity exporters. What's the

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Speaker 3: big one that isn't China. Well, it's still a net export, right,

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Speaker 3: it runs current account and trade surpluses, and so it's

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Speaker 3: a story of many excellent opportunities. Basically all of Latin America,

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Speaker 3: which is a big chunk of our benchmark, and all

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Speaker 3: of Sub Saharan Africa, our winners is replacing or benefiting

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Speaker 3: at least from the price or in a longer term,

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Speaker 3: potentially replacing at least Russia and others as Europe's major supplier.

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Speaker 2: Eric Fine Vanek, we thank him for coming in today.

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Speaker 2: On podcasts, We're at Apple, We're at Spotify, on YouTube podcasts,

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Speaker 2: it's single best idea.