Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The single best idea
Speaker 1: is a newsflow has been and on this Friday is extraordinary.
Speaker 1: At any given point you look at, say the Bloomberg
Speaker 1: launch pad, which is a layout of equities, bonds, currencies
Speaker 1: and commodities and blinking at a high rate of speed
Speaker 1: as the market reacts to all this newsflow. You find
Speaker 1: one statistic, But you can't do that. You have to
Speaker 1: look at two, three, four five statistics and synthesize in
Speaker 1: the correlations or lack of correlations. So when I say,
Speaker 1: oils edging up ninety one ready to print ninety two
Speaker 1: up twenty six percent off of the friday before the
Speaker 1: beginning of the war, that's just one statistic. How did
Speaker 1: that do against fixed income bonds a ten year yield?
Speaker 1: How did that do against the stock market? Did the
Speaker 1: stock market bounce off oil? Did the stock market bounce
Speaker 1: off currency? With a blended dollar index? Getting right back
Speaker 1: to that strong dollar era, all those people certain of
Speaker 1: week dollar really having a difficult week. Then all of
Speaker 1: this market comes back to market talk, comes back to economics.
Speaker 1: We had Claudias samwe Us today New Century Advisors. She
Speaker 1: saw a job's report that moved away from the optimism
Speaker 1: of thirty one days ago.
Speaker 2: Clearly, these numbers from February are not in like you know,
Speaker 2: checking the box on signs of stabilization in the labor market, right,
Speaker 2: we're losing jobs and I don't ready ticked up. This
Speaker 2: is not a good sign. This actually sits pretty consistently,
Speaker 2: especially the last three months, with what we saw all
Speaker 2: of last year. The US economy last year created almost
Speaker 2: no jobs on net right, and at the same time
Speaker 2: because zuomer spending increased, business investment incre GDP rose for
Speaker 2: the year on on trend right. It may we can
Speaker 2: talk about concentration, we can talk about what sectors it's in,
Speaker 2: but we have already been for a year in a
Speaker 2: jobless expansion. So unfortunately, what the February data, with this
Speaker 2: latest labor market data suggests is the still where we're at.
Speaker 1: Claudia some new century advised. There's a lot of good
Speaker 1: voices today and wonderful set of conversations John Ferro and
Speaker 1: Michael McKee having good conversations with Governor Waller, with President
Speaker 1: Gouldsby of the Booth School Chicago, and of course John
Speaker 1: Ferroll speaking with Kevin Hasse to the White House trying
Speaker 1: to glean forward here with oil again, butterstup against ninety two.
Speaker 1: We spoke to Eric Vanastron of Lizard. Let's listen, the
Speaker 1: market is trying to look through it. Even though these
Speaker 1: oil price moves look big, the stock market moves this
Speaker 1: week feel painful in the grand scheme of things. US
Speaker 1: equities are just at the bottom of the range they've
Speaker 1: been since October. Oil still off its heights from since
Speaker 1: the since the Ukrainian invasion. But I think that that
Speaker 1: relative sanguinity, that relative calm is out of line with
Speaker 1: the level of fundamental risks in the backdrop here. And
Speaker 1: that's why I think paying close attention to traffic in
Speaker 1: the Gulf is going to be very important. Eric Phenostrian
Speaker 1: with us. Don't forget Bloomberg this weekend. They have a
Speaker 1: full schedule on Saturday. On Sunday beginning at seven am.
Speaker 1: On podcasts, We're out at Apple, We're out at Spotify,
Speaker 1: at YouTube podcasts. Its single best idea