Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: We said, somewhere halfway into this Friday and hear your
Speaker 2: single best idea. We said, okay, there's unknowns, and Muhammad
Speaker 2: Alarian says there's unknown unknowns or maybe we're to the
Speaker 2: point where there's unknown unknown unknowns and the only solution
Speaker 2: is to attempt to listen to smart people. When we
Speaker 2: were so fortunate this week, Eric and Wan in the
Speaker 2: whole room. The interns just just superb. The interns Fordom really,
Speaker 2: I think they're they're they're like almost you know better. Anyways,
Speaker 2: we had a great set of conversations. Robert Hormeetz joined us.
Speaker 2: He is definitive. You know him from Goldman Sachs and
Speaker 2: all of his work with Kissingers. What you don't know
Speaker 2: is a young Turk out of Tufts. He assisted Kissinger
Speaker 2: and Winston Lord in all of the development of our
Speaker 2: economic philosophy with China. What an honor to speak to
Speaker 2: Ambassador Hormats today. Here are Hormats, I'm the leader of China.
Speaker 1: He's a very methodical person and he does sort of
Speaker 1: venerate Mao, but he also realizes Mao had a number
Speaker 1: of issues that made him controversial, but there are two
Speaker 1: parts of the Mau background that are extremely important to understand.
Speaker 1: Mao made one point that we've been bullied by the
Speaker 1: foreigners over the last one hundred years, and we're not
Speaker 1: going to be bullied again, and she is very much
Speaker 1: of the view that that must be a critical part
Speaker 1: of China's strategy to be invulnerable to bullying or pressure
Speaker 1: or leveraged by the foreigners. The second is that Mao
Speaker 1: understood and she understands that the fall of the Soviet
Speaker 1: Union was in part because they did not have a
Speaker 1: lot of trading partners. They were confined to very few
Speaker 1: products that they produced and a very few countries to
Speaker 1: sell them to. And he she Jinpain was going to
Speaker 1: make sure that China had a broad range of trading
Speaker 1: partners and had a very diversified economy and therefore could
Speaker 1: not be leveraged by the United States or anyone else.
Speaker 2: Robert Romance of Kissinger Associates, we hope to have him
Speaker 2: on to give us perspective on the ARC. As this morning,
Speaker 2: the Chinese announced that presidency will attend Washington in September.
Speaker 2: On bonds. It was priced down and yield up and
Speaker 2: there's no one better to talk to and Ian Lingen,
Speaker 2: he is definitive at the Bank of Montreal with demo
Speaker 2: capital markets. Ian Lingen on your ten year yield.
Speaker 3: Well, I think that the world looks at ten year yields.
Speaker 3: I look at the two year yield. There's nothing more
Speaker 3: than reflection of near term monetary policy expectations. And so
Speaker 3: anytime we're over four percent in this environment, that means
Speaker 3: that we're really contemplating rate hikes, which I don't think
Speaker 3: should be on the table. The long bond is more
Speaker 3: of an inflation story, and as we see, five handle
Speaker 3: on the thirty year is troubling for a lot of
Speaker 3: different asset classes. So I do think that the shape
Speaker 3: of the curve is going to be the story to
Speaker 3: follow this year.
Speaker 2: Ian Lincoln to be more capital Marcu, It's an extraordinary week.
Speaker 2: We dive into next week in the hallmark clearly is
Speaker 2: the twentieth the earnings, the revenues, the future for Nvidia
Speaker 2: on podcasts, Audit, Apple and Spotify YouTube podcasts, single best
Speaker 2: idea