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Speaker 1: Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney, alongside

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Speaker 1: my co host Matt Miller. Every business day we bring

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Speaker 1: you interviews from CEOs, market pros, and Bloomberg experts, along

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Speaker 1: with essential market moving news. Find the Bloomberg Markets Podcast

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Speaker 1: on Apple Podcasts or wherever you listen to podcasts, and

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Speaker 1: at Bloomberg dot com slash podcast. Now, my first car

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Speaker 1: was called the Blue Swede. I did about two fifty

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Speaker 1: thousand miles in that two forty g ly station wagon,

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Speaker 1: and then my second car was a Silver Bullet that

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Speaker 1: was a Sedan, also a two forty. My third car

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Speaker 1: was a seven forty. We called it the Red Crash

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Speaker 1: because all four of my brothers crashed it and we

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Speaker 1: still have that car to this day. UM So, a

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Speaker 1: lot of Volvo's growing up, and that's why I'm so

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Speaker 1: excited to talk to Andre's Gustafson right now. He's the

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Speaker 1: head of the Volvo America's region, the president and CEO

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Speaker 1: also a Volvo Cars USA. Anders, thanks so much for

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Speaker 1: joining us. You're here, I guess merely to talk about

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Speaker 1: your new parental leave program UM, which is unique for

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Speaker 1: an American company. You're going to give twenty four weeks

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Speaker 1: of leave too. Is this to either parent who works

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Speaker 1: involved though? Yes. First of all, thank you very much

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Speaker 1: for your great introduction. So happy that you're you're you're

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Speaker 1: a loyal owner of a Yes. Answer to your question,

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Speaker 1: it's twenty four weeks, uh, and it's for for everyone.

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Speaker 1: It's a gender neutral it's the same sex adoptive, permanent

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Speaker 1: care foster and surgut parents, and it's for every mold

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Speaker 1: them to eat. Both from our plants and manufacturing colleagues

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Speaker 1: to headquarters. All right, honors, let's I'd love to get

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Speaker 1: your thoughts here on you know, as we have executives

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Speaker 1: on here over the past year. We really want to

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Speaker 1: get a sense of how the pandemic has impacted your business, uh,

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Speaker 1: the end user, the supply chain, the manufacturing. Give us

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Speaker 1: if you could a snapshot of how the pandemic has

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Speaker 1: impacted business over the last half months. Oh, I didn't

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Speaker 1: know this was a two hour interview. Answer. The short

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Speaker 1: answer is that, you know, Lobi Cars we're doing very

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Speaker 1: very very well. Last year was a record year for

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Speaker 1: us in the US, and this year started in a

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Speaker 1: very very very good way. I think we're the fastest

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Speaker 1: growing premium manufacturer UM, so you have that at least

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Speaker 1: a result. But of course it has been tough and

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Speaker 1: it's it's still tough. We invested in a brand new

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Speaker 1: headquarter in the US in the middle of the pandemic,

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Speaker 1: and it was a lot of discussions if this is

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Speaker 1: the right decision. But for a growing brand, we're supposed

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Speaker 1: to grow upcoming years much we have grown the last

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Speaker 1: five years. So when you work for growth, it's easier

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Speaker 1: to handle a pandemic because we have the momentum in

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Speaker 1: the business and we have the right culture. What about

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Speaker 1: the shortage that that can't help in growth? Right? How

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Speaker 1: much does that slow down your production lines? Yeah? Once again,

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Speaker 1: we are quite lucky. I'm swish a little bit humble there.

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Speaker 1: We have had production issues the last two weeks, but

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Speaker 1: before that we were quite out of that worst scenario.

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Speaker 1: We see it starts to influence our our business in

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Speaker 1: Charleston where we right now we have a stop of

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Speaker 1: the operation and also at some plants in China. But

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Speaker 1: in Europe the two plants are doing quite well and

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Speaker 1: we run the operation based a week per week. But

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Speaker 1: right now it looks good this week and also next week.

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Speaker 1: I unders talking about your growth. It's just extraordinary growth numbers.

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Speaker 1: You were just discussing, is that are you taking share

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Speaker 1: from competing brands? And if so, Hum, I love them all,

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Speaker 1: and I think we fish everywhere right now. I think

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Speaker 1: based on a pandemic, people are more kind of a

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Speaker 1: concern about their safety, and as you know, UM Safeties

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Speaker 1: is one of our strongest brand promises, so I think

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Speaker 1: that that's really helped us to attract customers from our

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Speaker 1: German competitors, but also from American competitors. So I would

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Speaker 1: say we fish everywhere based on our values of safety

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Speaker 1: and focus of sustainability. So I tweeted out a picture

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Speaker 1: of the poll Star one. I think it is one

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Speaker 1: of the most beautiful sedans that you can buy today, Paul.

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Speaker 1: You know on a Ferrari how they have the sea

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Speaker 1: through deck lid you can you can view the twelve

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Speaker 1: cylinder engine through that. In the poll Star, they have

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Speaker 1: a window in the back in the trunk that shows

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Speaker 1: you all the electrical connections. It's just so cool. I mean, Anders,

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Speaker 1: this is an engineer's dream because it's not just the

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Speaker 1: batteries in the back. You've got the two leader T

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Speaker 1: eight engine in the front. Which has both a turbocharger

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Speaker 1: and a supercharger. Um it just gets me pumped. Uh

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Speaker 1: and your only making a thousand, five hundred of those, right?

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Speaker 1: What is the pole Star brand going to do for you?

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Speaker 1: The Postal brand is you know Imer's. I'm responsible for

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Speaker 1: Lobo Cars. The pole Star is owned by Volvo, so

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Speaker 1: it's a unique brand here in the US, but it's

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Speaker 1: really our performance electric company or brand we have in

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Speaker 1: in the global portfolio. And I totally agree what you said.

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Speaker 1: It's a beautiful car right now. My wife is enjoying

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Speaker 1: the p one and I'm always nervous because she's beautiful,

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Speaker 1: but they stopped her everywhere. Um. So it is a

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Speaker 1: beautiful car. And it's really are our start on our

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Speaker 1: segue into electrication for the whole corporation, all right, And

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Speaker 1: it's that's kind of where I wanted to go. We've

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Speaker 1: seen a lot of the traditional automakers in the past

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Speaker 1: and called six months really ramp up the rhetoric and

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Speaker 1: about their ambitions in the EV market. Um, and we've

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Speaker 1: seen reflected in their stock prices. Is the strategy of

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Speaker 1: Volvo is relates to electric vehicles. In a couple of

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Speaker 1: weeks ago, we launched our strategy. It is divided into

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Speaker 1: two important years. So volume is going to be related

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Speaker 1: to full beps, fool electric cars and thirty. We are

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Speaker 1: going to produce on bets in our portfolio and that

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Speaker 1: is a big statement and that is less we worked with.

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Speaker 1: We do we lose him? Oh I'm not sure if

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Speaker 1: we lost unders Okay, we we thought we were scared.

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Speaker 1: We thought you lost you for a second. Um, you

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Speaker 1: know what, let me just pop in a question. I'm

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Speaker 1: not sure if this uh, if this affects you in

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Speaker 1: the US. But here in Germany we have a pretty

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Speaker 1: cool or Volvo has a pretty cool um subscription program.

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Speaker 1: You can just basically like you would with a phone. Um, uh,

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Speaker 1: subscribe to Volvo cars for two years. I think it is.

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Speaker 1: And do you do that in the US as well?

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Speaker 1: Because I know these subscription programs are getting popular. Yes,

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Speaker 1: we launched it two and a half years ago. So

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Speaker 1: we have you know, US, but a country. It's a continent.

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Speaker 1: So we have cab Volvo offering forty three stakes. Uh

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Speaker 1: and it's growing every month even if we I'm sure

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Speaker 1: talk about numbers, but March in US is going to

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Speaker 1: be the best months since we launched Alvo in US.

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Speaker 1: All right, very cool. I just think it's such you

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Speaker 1: guys are always doing things different, you know. I don't

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Speaker 1: mean to steal the Apple uh slogan, but it's just

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Speaker 1: like the design obviously is very Swedish. But I love

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Speaker 1: the x C forty for example, the S ninety I

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Speaker 1: was hoping would bring people back to Sedan's out of

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Speaker 1: the SUVs um and the poll Star is just incredible

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Speaker 1: as well. So honors, go stop send CEO Volvo Cars America.

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Speaker 1: Evolvo America's as well ahead of Volvo Americas as well.

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Speaker 1: He's gonna join me on Bloomberg Television by the way,

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Speaker 1: in about an hour and a half, so you can

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Speaker 1: tune in there if you like. For me and Paul,

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Speaker 1: this is Bloomberg. Well, this next guest I have known

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Speaker 1: for many years, David Field. He's the chairman, president and

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Speaker 1: chief executive officer of Odyssey. I know that David as

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Speaker 1: a chairman, president, CEO of Entercom Communications, but they're rebranding

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Speaker 1: the company Odyssey. They're based in Philadelphia, Pennsylvania. And in

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Speaker 1: the interest of transparency, we should note that Bloomberg Radio

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Speaker 1: in Washington, d C is a local marketing agreement partner

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Speaker 1: of Entercom, rebranded today as Odyssey. Bloomberg Radios also provides

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Speaker 1: business program to Odyssey's forty five markets nationwide on more

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Speaker 1: than one hundred of its radio stations. David, thanks so

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Speaker 1: much for being with us. It's been good to chat.

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Speaker 1: Has been a long time since you and I have chatted.

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Speaker 1: Talked to us about rebranding Entercom, which is an aim

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Speaker 1: everybody in the radio industry knows to Odyssey. What's uh,

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Speaker 1: what's the significant change so well? First, Paul, great to

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Speaker 1: hear your voice and and to connect UM. Yeah, look

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Speaker 1: it's been UM. If you if you look at how

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Speaker 1: the audio space is playing out today, UM audio is

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Speaker 1: experiencing a huge renaissance, and over the last few years,

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Speaker 1: last three years to be specific, we have transformed our

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Speaker 1: company UM to not just build one of the two

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Speaker 1: largest radio broadcasting groups, but also have taken leadership positions

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Speaker 1: and podcasting, digital network, radio, live events, sports, news, etcetera.

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Speaker 1: And uh, the name Entercom just does not We've all

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Speaker 1: run it, and we thought it was time for a

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Speaker 1: rebrand that would also enable us to take our radio

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Speaker 1: dot com B two B B two C platform and

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Speaker 1: marry it to our B two B platform and create

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Speaker 1: a more holistic, compelling UM brand image. So one thing, uh,

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Speaker 1: radio listeners can't see this isn't like James Joyce Odyssey.

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Speaker 1: This is a U. D A C Y Which then

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Speaker 1: makes more sense. It's audible. Why has radio? I mean

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Speaker 1: I'm a huge fan, not just I don't just work

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Speaker 1: in radio. I listened to radio like most of the day.

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Speaker 1: Why have radio and podcasts and audible books experience this renaissance?

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Speaker 1: Let's driving it well. Audio has emerged. Is the number

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Speaker 1: one radio is emergence, the number one reached medium in

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Speaker 1: the country. And our company and your company and so

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Speaker 1: many others have such a great depth of incredibly compelling

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Speaker 1: personalities UM and we see that having exploded now across podcasting,

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Speaker 1: which of course it's just added a greater dimension, uh

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Speaker 1: to audio. And Uh there's no medium that connects more,

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Speaker 1: connects more viscerally, and in ages people more deeply than

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Speaker 1: than great audio. And because of technology and innovation, we're

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Speaker 1: now seeing more grade audio available to the public than

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Speaker 1: ever before. And that's really exciting. Hey, David, I know

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Speaker 1: at Entercom, historically you guys have really had some of

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Speaker 1: the leading sports radio stations around the country. I think

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Speaker 1: is something like a w E I UH in Boston

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Speaker 1: as a real leader. And you know when you listen

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Speaker 1: to sports radio, sports betting is everywhere. It seems like

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Speaker 1: more and more states are legalizing sports betting. What's that

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Speaker 1: done to your business? So to your point, we have

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Speaker 1: most of the leading sports radio stations in the country

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Speaker 1: like w f ANN New York, to Score in Chicago,

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Speaker 1: w i P and Philadelphia and so forth. And we

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Speaker 1: have um UH announced major major partnership with Vanduel this

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Speaker 1: fall UM which we believe is the largest radio advertising

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Speaker 1: deal in the history of the business. And then since

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Speaker 1: then we've announced deals with both Rush Street Interactive and

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Speaker 1: today we bet mgm UM. We see that market exploding

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Speaker 1: UH and going from UH going about this year to

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Speaker 1: about thirty million in revenue, and think that our sports

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Speaker 1: betting revenues triple here over the next few years as

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Speaker 1: more and more states legalized mobile sports betting. It definitely

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Speaker 1: has to pick up to match the sports betting markets

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Speaker 1: we see in other countries. I mean in England, you've

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Speaker 1: got you know, five year old kids on the street

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Speaker 1: are already doing spread betting. So it's something that I

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Speaker 1: think Americans will cotton to pretty well. I want to

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Speaker 1: ask about podcasts. Why have podcasts become so popular and

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Speaker 1: and and how do you think the distribution of those

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Speaker 1: is going to change, because right now it's still a

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Speaker 1: little bit clunky. Well, one of the things we announced

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Speaker 1: today is that we are UM for the first time

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Speaker 1: going to start UM presenting exclusive windows UM for some

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Speaker 1: of our content. And we entered the space two years

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Speaker 1: ago the acquisitions of two of the strongest podcast companies

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Speaker 1: in the countries See thirteen and Pineapple Street Studios. UM.

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Speaker 1: We have partnerships with many of the country's leading podcasters,

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Speaker 1: and we also generate and a number of original series,

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Speaker 1: many of which have been critically acclaimed and one awards,

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Speaker 1: and that has made us one of the three largest

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Speaker 1: podcast publishers in the country. UM. We're just really excited

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Speaker 1: about the the growth rates within the industry, and you

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Speaker 1: see more and more people consuming large amounts of podcasting,

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Speaker 1: and I think that you're going to see revenues continuing

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Speaker 1: to expand as more and more brands now are embracing

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Speaker 1: podcasting and recognizing the power of it. Last point I

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Speaker 1: make on that is we also just acquired a company

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Speaker 1: called Podcorn, which is the number one podcast influencer marketplace

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Speaker 1: in the country. They have over forty thou gast creators

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Speaker 1: on their platform and provide the best way for brands.

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Speaker 1: Two UM established native advertising on targeted podcasts that reach

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Speaker 1: their target audiences and we think that is incredibly exciting

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Speaker 1: development UM for the future of add growth on the

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Speaker 1: podcasting platform. Dave talked to us about your core radio business,

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Speaker 1: the outlook there for advertising as you compete with you know,

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Speaker 1: all these new media that are out there for ad dollars.

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Speaker 1: Sure it's it's people forget that radio today is the

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Speaker 1: number one reached medium in America and about Americans listen

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Speaker 1: each week, which speaks to the resilience of the medium

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Speaker 1: from listening standpoint. From an advertising standpoint, UM, we've seen

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Speaker 1: national revenues recovering at a very rapid clip UM towards

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Speaker 1: you know, back to where we were in t and

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Speaker 1: local UM we continue to suffer from the number of

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Speaker 1: local advertisers who are essentially hibernating UM through the obvious

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Speaker 1: UM extraordinary difficulties of the pandemic. And so about our

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Speaker 1: local advertisers. As a December, we're still not advertising and

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Speaker 1: some of that is attrition, but a large percentage of

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Speaker 1: that are just advertisers who are UM waiting to get back,

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Speaker 1: and so we expect there to be a significant recovery

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Speaker 1: here UM as we see some degree of normalization in

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Speaker 1: the months ahead. Hey, David, I want to ask you

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Speaker 1: just quickly here, what are you gonna do with your

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Speaker 1: AM stations. I've noticed that you've you know, transitioned some

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Speaker 1: of them to digital or FM like w f A

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Speaker 1: n IS now you know one oh one nine. What

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Speaker 1: do you plan on doing with some of your AM stations? Well, Paul,

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Speaker 1: it's it's UM. The fact remains that we still have

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Speaker 1: on our company and across the industry a number of

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Speaker 1: really robust A M brands and as long as you're

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Speaker 1: creating outstanding content UM like Bloomberg Radio, people will seek

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Speaker 1: it out. And so certainly FM radio is uh uh

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Speaker 1: it's accessed by a greater share of the public. UM.

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Speaker 1: AM still does really well if you have a strongly

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Speaker 1: branded radio station that is a destination for for listeners.

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Speaker 1: All right, Dave, thanks very much for joining us. Pleasure

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Speaker 1: having you on and really fascinating conversation. Dave Field, Chairman,

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Speaker 1: President CEO of Entercom now Odyssey. The ticker after the

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Speaker 1: name change is a U D. Now I want to

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Speaker 1: get over to Bloomberg senior reporter treat not A Rajon,

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Speaker 1: who has been leading the coverage of the block stock

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Speaker 1: bonanza here. The Archagos failure and um, the drops in

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Speaker 1: the stocks that Archigos had exposure to has been amazing.

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Speaker 1: The banks all around it have had to come out

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Speaker 1: and say whether they had billions of dollars of exposure,

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Speaker 1: like Credit Suite or Wells Fargo just coming across the

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Speaker 1: ticker now saying it has no losses to report from

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Speaker 1: closing its arts exposure three. How much more do you

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Speaker 1: think we have to go in terms of unwinding these uh,

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Speaker 1: these trades, man. The problem really is that no one

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Speaker 1: has a good central database on this situation. We're talking

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Speaker 1: to all the prime brokers out there, We're talking everyone

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Speaker 1: else was involved in the situation, and they may know

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Speaker 1: what is happening at their own institution, but they really

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Speaker 1: don't have good visibility of what's happening elsewhere, which is

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Speaker 1: why when we saw that big block trade mania on Friday,

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Speaker 1: where the estimates were anywhere between twenty billions and thirty billions,

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Speaker 1: perhaps a little more. Even then, senior banking executives were

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Speaker 1: cautioning us that you could still see quite a lot

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Speaker 1: more of them. Open Stanley then came out Sunday night

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Speaker 1: shopping at two billion dollar viacom blocks, and you saw

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Speaker 1: a bunch of training from one's probable yester day. Now,

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Speaker 1: as you just mentioned, well fogs out there saying we

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Speaker 1: had a prime broke reede relationship with doctor Goes. But

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Speaker 1: we were well collateralized at all times, and we will

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Speaker 1: not We don't have any more exposure and we did

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Speaker 1: not experience any loss. That's not the case for MUFG,

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Speaker 1: which overnight Tuesday morning in Japan told us that they

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Speaker 1: had a few hundred million dollars in losses, the MURA

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Speaker 1: that has already said that it has a two billion

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Speaker 1: dollar claim against the big client, which we believe again

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Speaker 1: to be tied to the Bill Hoog situation, and most importantly,

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Speaker 1: the big name credits Wheeze where the most the latest

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Speaker 1: reporting suggests that they are living for lasses that could

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Speaker 1: be a few billion dollars and that is mighty significant. Sure,

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Speaker 1: I love the piece you and your partner Donald Griffin

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Speaker 1: put out earlier today, really taking us behind the scenes

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Speaker 1: of what was going on with some of these investment banks,

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Speaker 1: and I guess last week they were trying to get

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Speaker 1: together at the last second and try to do this

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Speaker 1: in a more orderly fashion. What happened to that, Well,

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Speaker 1: one interesting observation from that pole definitely is you do

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Speaker 1: not want to be the person in the room that says, guys,

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Speaker 1: let's all hang tight and show some unity, because everyone

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Speaker 1: else will smell blood in the water. Our understanding it

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Speaker 1: alarms are already blaring at a lot of these films

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Speaker 1: which saw some of the big positions that Bill Homes

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Speaker 1: firm had start to tank, and they were worried about

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Speaker 1: breaching margin limits and how they make sure that they

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Speaker 1: do not lose much in that situation when all these

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Speaker 1: banks can mean. On the call, we believe it might

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Speaker 1: have been sometime on Thursday, Credit Sweet was actually pushing

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Speaker 1: for a stand still agreement. It was saying, let cooler

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Speaker 1: heads prevail, let the market player for a couple of bits,

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Speaker 1: let's reassess the situation when markets open next week. But

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Speaker 1: it was quite clear that there was a reasonable amount

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Speaker 1: of bickering on that call. No one really reached any

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Speaker 1: sort of agreement on what to do. And you know

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Speaker 1: a few hours after that, banks are already shooting up

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Speaker 1: notices of the fault. Massive finger pointing. It started. Some

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Speaker 1: folks beIN credit sweets, also blame Goldman, Sachs, Blain, Stanley.

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Speaker 1: What we do know was they all broke ranks and

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Speaker 1: was everyone for themselves by the time we were into Friday. Wow,

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Speaker 1: just just an extraordinary story. Uh, we really appreciate you

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Speaker 1: taking us their street not a Rodge and senior finance

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Speaker 1: reporter for a Bloomberg. US consumer confidence rose in March

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Speaker 1: to a one year highest. Americans grew more upbeat about

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Speaker 1: the economy and labor market. Let's dig into those numbers

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Speaker 1: and we have what a pair we have to do

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Speaker 1: that today Lynn Franco, Senior director of Economic Indicators and

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Speaker 1: Surveys at the Conference Board, and Carl Ricka Donna, Chief

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Speaker 1: US Economists for Bloomberg Economist, Lynn, I want to start

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Speaker 1: with you a big number blowing out where Wall Street

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Speaker 1: saw this number? What's behind it? Well, we've seen that

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Speaker 1: not only has spring sprung, but it seems so has

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Speaker 1: consumers confidence. And it's really across the board. We've got

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Speaker 1: a much stronger rating on current conditions both in terms

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Speaker 1: of how consumers see the economy and employment and looking ahead,

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Speaker 1: they're very confident and we're going to continue to see

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Speaker 1: the economy grow and that you know, we're going to

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Speaker 1: begin adding jobs. So it's very positive across the board. Carl,

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Speaker 1: this could change on a dime, right, Um, as we

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Speaker 1: see COVID infection spike around the world. How confident are

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Speaker 1: you of a comeback. I'm fairly confident Matt, that we

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Speaker 1: are on a sustainable track record here, at least as

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Speaker 1: we look at us economic conditions. Certainly there are uh

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Speaker 1: kind of signals pointing in there are wrong directions if

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Speaker 1: we look at the hospitalizations by state and and that

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Speaker 1: sort of thing. But we've had such success uh giving

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Speaker 1: the vaccine distributed, especially among the most vulnerable aspects of

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Speaker 1: the population. About that, you know, I think we can

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Speaker 1: we're certainly in the race against the clock hero with

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Speaker 1: the variants spreading, but I don't you know, see a

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Speaker 1: reasonable scenario where we're going back to extreme lockdown. So

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Speaker 1: there could be a kind of delay or a little

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Speaker 1: bit of backsliding, but not a severe downturn. So this,

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Speaker 1: this recovery I think is very much here to stay.

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Speaker 1: Uh and UH you know what, if you like what

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Speaker 1: you're seeing in Q when, you'll love what you're seeing

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Speaker 1: in Q two, because we're going to see just a

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Speaker 1: dramatic crescendo. Uh And nowhere will that be more evident

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Speaker 1: than as we look at the payroll numbers coming up

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Speaker 1: this Friday. The March jobs report is going to be

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Speaker 1: a real barn burner. Even after February surprise to the upside,

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Speaker 1: March will be stronger still, and the same thing will

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Speaker 1: convey into April and May. And two, Carl, just help

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Speaker 1: us put some bloomerk economics GDP numbers, because these are

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Speaker 1: numbers that we haven't seen any long time. If ever,

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Speaker 1: where do you like your Q two, three and four

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Speaker 1: GDP numbers? Not since you were a young boy. Uh No.

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Speaker 1: We we're looking for a recovery that in many ways

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Speaker 1: resembles the economic rebound after the very deep recession, which

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Speaker 1: to that point had been the deepest trip since the

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Speaker 1: Great Depression. Uh. And so we see lots of parallels,

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Speaker 1: whether it's looking at GDP growth. In fact, you know,

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Speaker 1: we're looking for GDP growth of about eleven percent in

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Speaker 1: the second quarter, ten percent in the quarter after that.

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Speaker 1: That's there's all this stimulus money has just dumped onto

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Speaker 1: an economy that's reopening and benefiting from wealth effects from

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Speaker 1: home prices and equity appreciation and portfolios. Uh and also uh,

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Speaker 1: you know stimulus funds the reopening. Uh really uh, a

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Speaker 1: slew of factors in the one that we shouldn't ignore

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Speaker 1: is the mountain of savings that households are sitting on

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Speaker 1: over the course of the past year, which could be

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Speaker 1: about two trillion dollars. So as they deployed that into

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Speaker 1: the economy, there's really just multiple engines. You're providing very

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Speaker 1: a strong boost to activity. And so that means for

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Speaker 1: the year as a whole, we're looking for GDP growth

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Speaker 1: of about seven point seven percent. The Feds currently at

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Speaker 1: six and a half were kind of at the upper

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Speaker 1: end of the consensus spectrum. But that's all depends on

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Speaker 1: the vigor of the reopening. And today's confidence numbers give

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Speaker 1: me added uh confidence pun intended that you know, we

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Speaker 1: will see an above consensus outcome. Lynn, What what what

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Speaker 1: has driven this? Is it the stimulus checks that are

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Speaker 1: driving this incredible confidence number. It's a variety of factors.

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Speaker 1: I think we've got, you know, fiscal stimulus, which is helping.

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Speaker 1: We've got the vaccine rollout which is accelerating, and so

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Speaker 1: that's a great combination both for confidence and for spending.

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Speaker 1: And we expect that much like Carl said, to continue

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Speaker 1: well into Q two, Q three, and Q four. So

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Speaker 1: we think really that this recovery is here to stay

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Speaker 1: and it's going to gain strength. And while the arians

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Speaker 1: sort of remained a possible head wing, um, you know,

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Speaker 1: it all depends on how quickly we can now roll

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Speaker 1: out the vaccine. All right, Lynn, thanks so much for

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Speaker 1: joining us. Lynn Franco is the director of Economic Indicators

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Speaker 1: at the Conference Board. Again, the US consumer confidence number

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Speaker 1: came into a hundred and nine point seven and the

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Speaker 1: survey was only for six point nine, so really a

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Speaker 1: big beat, a big beat over the revised previous month's

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Speaker 1: number of ninety point four. Thanks for listening to the

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Speaker 1: Bloomberg Markets podcast. You can subscribe and listen to interviews

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Speaker 1: with Apple Podcasts or whatever podcast platform you prefer. I'm

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Speaker 1: Matt Miller. I'm on Twitter at Matt Miller three. Pet

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Speaker 1: On fall Sweeney I'm on Twitter at pt Sweeney. Before

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Speaker 1: the podcast, you can always catch us worldwide at Bloomberg

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Speaker 1: Radio