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

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Speaker 2: A single best idea on a huge economic day. Thank you.

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Speaker 2: The revisions were just something Scarletfoo and I at ten

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Speaker 2: am doing that dovetailing and around that key appointment a

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Speaker 2: worse number. You really wonder what the politics will be

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Speaker 2: on that, more than the jobs. I guess we're twenty

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Speaker 2: five basis points for the FED meeting, some people alluding

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Speaker 2: to fifty basis points. There's a CPI information coming out

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Speaker 2: here this week that maybe will again once again royal markets.

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Speaker 2: We'll have to see on that. Joining us this morning

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Speaker 2: was Nancy Tangler of Laffer Tangler. She was just brilliant

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Speaker 2: on the courage to be in the market. She is

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Speaker 2: a bull. We talked to her about the view forward.

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Speaker 3: I think they're doing a lot of things correctly, but

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Speaker 3: I hate et this takeover of private sector companies, and

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Speaker 3: doctor Laffer's come out and said, well, if anyone can

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Speaker 3: do it, it's President Trump, and that may well be,

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Speaker 3: but I think it's bad precedent and I think they're

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Speaker 3: overstepping the executive.

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Speaker 2: Then respond to the gloom crew that says there'll be

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Speaker 2: a jump condition where the smooth curves of our equity

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Speaker 2: bullishness break. How do you invest given the shock potential

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Speaker 2: of a Trump policy gone wrong.

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Speaker 3: Well, we'll do what we did in April. We'll buy more.

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Speaker 3: So we were you know, we were stepping in on

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Speaker 3: April third, April first, and March because you see these

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Speaker 3: dislocations and you say it is the AI trade over.

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Speaker 3: It isn't. I've heard so many people say, oh, well

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Speaker 3: there's that MIT study. Nobody's making money with AI. That

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Speaker 3: is not what we're hearing from the companies on the

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Speaker 3: conference calls. We're seeing margin expansion, We're seeing less hiring,

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Speaker 3: which I think is a paradigm shift that is distorting

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Speaker 3: things like the ism manufacturing number.

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Speaker 2: Nancy Tanger there would leave Tangler. We've done a little

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Speaker 2: more municipal bonds Now all the pros are telling us

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Speaker 2: priced down, yield up. The municipal bonds are an uncommon value.

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Speaker 2: Eating Vance rather not eating France. France is falling apart,

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Speaker 2: eating Vance. Morgan Stanley's doing better than good. Craig Brandon

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Speaker 2: joined us from eating Vance to talk about taking advantage

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Speaker 2: of tax free bonds.

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Speaker 1: The problem I have is that fixed income investors often

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Speaker 1: don't look at muni's because they think that's just for

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Speaker 1: you know, people in that tax record. Yeah, I look

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Speaker 1: and say where Muni's are right now? They should be

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Speaker 1: part of everyone's fixed income portfolio. Right. So I was

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Speaker 1: in a fixed income meeting last week and one of

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Speaker 1: our highield portfolio managers was talking about high yield and

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Speaker 1: you know, high old spreads are sort of in a

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Speaker 1: you know, three hundred below three hundred range, and you know,

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Speaker 1: high yield the indexes like seven percent. And then they

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Speaker 1: turned to me and said, okay, what about Munie's. I said,

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Speaker 1: a seven percent yield in Munie's on a tax equivalent basis,

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Speaker 1: you can get over an eight percent for triple A bonds, right,

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Speaker 1: So don't just compare Munie's to Muni's. I compare Muni's

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Speaker 1: to other fixed income classes. I just think investors need

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Speaker 1: to look at Muni's as part of a broader fixed

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Speaker 1: income portfolio for everybody, not for just you know, the

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Speaker 1: Josh Allens of.

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Speaker 2: The world, Craig Brandon of Eaton Vance. They're also at

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Speaker 2: Buffalo Bill's fan. It's just simple. The podcasts that working

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Speaker 2: at a meeting yesterday with our podcast people, the single

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Speaker 2: best idea of people humbled by the growth that we're

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Speaker 2: seeing across the nation and around the world with surveillance

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Speaker 2: and what we're doing with podcasts. We're on Apple, we're

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Speaker 2: on Spotify, we're on YouTube podcasts. It's single best idea