Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The single best idea it's an uneventful Monday before Christmas,
Speaker 2: the holiday season. Not it was really really something that
Speaker 2: a huge news flow, of course paramount on Netflix. Paul
Speaker 2: Sween a huge hope there, but just all sorts of
Speaker 2: other news flow out in Japan, we're really focusing on.
Speaker 2: Look over the coming days weeks and frankly into January
Speaker 2: for further discussion of the Pacific Rim. In Japan. It's
Speaker 2: simple there prices down on debt and yields up. That
Speaker 2: causes some real as David Kelly's aware of this. He
Speaker 2: drives global investment strategy for all of JP. Morgan can't
Speaker 2: say enough about his work. He's been debt on on
Speaker 2: non farm payrolls that decline there in the monthly labor
Speaker 2: statistics even with the government shut down. Here's David Kelly
Speaker 2: forward on GDP.
Speaker 1: I think if it continued into the first six months
Speaker 1: of next year, then I think the FED would ease earlier.
Speaker 1: But I think I think we'll see a little pick up,
Speaker 1: as I said, because of income tax refunds. I think
Speaker 1: we'll see a pickup and growth, and I think that
Speaker 1: will stench the bleeding for for a while, but then
Speaker 1: you know, maybe later next year we do get ray cuts.
Speaker 1: But I want to make it clear, rain cuts won't
Speaker 1: fix anything here. The problem, the problems that this economy faces,
Speaker 1: have got nothing to do with interest rates or interest
Speaker 1: rates being too high anyway. So yes, it may force
Speaker 1: the Federal Reserve into cutting more aggressively later next year
Speaker 1: if the eclumn, if we don't sort of put some
Speaker 1: more artificial stimulus into the economy, which we may well do.
Speaker 2: Classic David Kelly, I can't say enough how I agree
Speaker 2: with him. The media focus on rates, and you've heard
Speaker 2: me say this is a parlor game, is borderline comical.
Speaker 2: I understand it has ramifications for those trading and bedding
Speaker 2: on the future of FED decisions on the future of
Speaker 2: the American economy. But in terms of the mandate of
Speaker 2: well meaning people, whatever the politics in Washington, how much
Speaker 2: is an interest rates strategy really affected. I go back
Speaker 2: to what I went back and forth with David ger
Speaker 2: on this today as he spoke to Stephen Myron with
Speaker 2: Anne Marie Horden, and I said to David, I said,
Speaker 2: the financialization of America tells me that any kind of
Speaker 2: conducive rate strategy is just fuel for the haves, and
Speaker 2: I stand with that. And of course we see the
Speaker 2: markets today buoyant, to say the least. Lori Kelvisina in today,
Speaker 2: Lori Kelvisina here on the dynamic between large companies and
Speaker 2: less large it.
Speaker 3: Really started in September, right after back to school. AI
Speaker 3: jitters from people who were real believers in the trade
Speaker 3: and had been there but had sticker shock on valuation.
Speaker 3: You know, I think I heard less about private credit
Speaker 3: concerns in December than I did earlier in the fall.
Speaker 3: That I think that's sort of the back of people's
Speaker 3: minds as well. And frankly, this rally we had off
Speaker 3: of the April lows was faster and more powerful than
Speaker 3: any growth scare bottom that we've seen in the post
Speaker 3: financial crisis era.
Speaker 2: Lri Covesina optimistic. I do want to make one note,
Speaker 2: Janie taken up by Nelson Peltz's shop Treon today the
Speaker 2: active manager out of Denver, Janis Henderson, and I just
Speaker 2: have to stay. Telly Lagier was in today with Wealth
Speaker 2: Capital and his optimism here of up fifteen percent, sixteen
Speaker 2: percent or even more for next year. Just Tampa's shelf
Speaker 2: extraordinary optimism with so many people out there relatively scared stiff.
Speaker 2: On podcasts, we're at Appleworth, Spotify and YouTube. Podcasts at
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