Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News the single best idea
Speaker 1: on the Oddust of Tuesdays in a slow motion August.
Speaker 1: It was not slow motion didity. Thanks to our team
Speaker 1: Eric and all who blew up the show. Here off
Speaker 1: the Lisa Cook News with President Trump yesterday evening Libby Cantrell,
Speaker 1: a PIMCO is expert, and I really talked to her
Speaker 1: less about Trump Cook and much more about the reaction
Speaker 1: of senators. Here's Libby Cantrell on the moment.
Speaker 2: This is in many ways self defeating for the President because,
Speaker 2: of course, not only does this potentially not have the
Speaker 2: impact on the old curve that he wants to see
Speaker 2: and mortgage rates and what have you, but it also
Speaker 2: makes the confirmation of any future nominee that much more difficult.
Speaker 2: Remember that in or to get confirmed and nominee needs
Speaker 2: fifty votes in the Senate, Republicans right now have fifty three. However,
Speaker 2: this is something that you all. I appreciate this nuance,
Speaker 2: but lots of financial press do not. The Senate Banking Committee,
Speaker 2: which is the first step to confirmation any nominee, cannot
Speaker 2: lose one Republican assuming Democrats vote against that person, so
Speaker 2: that means that by doing this, the president has focused
Speaker 2: attention on that confirmation process and in my view, makes
Speaker 2: it a lot more difficult for him to get anybody
Speaker 2: who has any whiff of partisanship or any whiff of
Speaker 2: being able to be influenced by the president in terms
Speaker 2: of minetary policy.
Speaker 1: Let me cantrol a huge value ed this morning yesterday,
Speaker 1: and I put out the chart today. I think it's
Speaker 1: going to be my chart of the year. Ed. Your
Speaker 1: Denny floored me by saying S and P five hundred
Speaker 1: ten thousand by the end of the deck out twenty six,
Speaker 1: twenty seven, twenty eight, twenty nine, out four in three months,
Speaker 1: four years, three months, whatever it is. I came in
Speaker 1: this morning and did the math. Actually I did do
Speaker 1: the math. My interns did the math. And the answer
Speaker 1: is it's Dow seventy thousand, Dow forty four thousand right now,
Speaker 1: balloons up to seventy thousand, and the return is ten
Speaker 1: and a half percent. Jeff de Graph is a renaissance
Speaker 1: macro excellent. I'm mixing economics with fundamentals and technicals. Jeffrey
Speaker 1: de Graph on the YARDENNI Dow seventy thousand.
Speaker 3: I think you cleared a lot of the weak hands
Speaker 3: out with the tariff talk and some of the concerns there.
Speaker 3: You're probably between here and there. Obviously there's another five
Speaker 3: years to go or four plus years to go, you'll
Speaker 3: have a meaningful consolidation and you'll have another draw down
Speaker 3: that is probably in the twenty percent camp. But certainly
Speaker 3: those those types of moves we think are are typical
Speaker 3: of this long term secular trend that we're in. Now,
Speaker 3: what could derail it? You know, our bond's going to
Speaker 3: end up being a friend or foe. I mean, that's
Speaker 3: obviously something we have to look at. But I think
Speaker 3: what's really interesting, Tom is this normalization of the yield
Speaker 3: curves globally has actually not derailed equities.
Speaker 4: It's helped equities.
Speaker 3: And I think that's really important that this financial suppression
Speaker 3: that we're under seems to be loosening and that's been
Speaker 3: good for free markets.
Speaker 1: Classic de graph mixing in the yield space, the fixed
Speaker 1: income space, and the equities as well. We saw the
Speaker 1: twos tens spread steeping out today, and of course I'm
Speaker 1: watching the comparison of the thirty year bond yield with
Speaker 1: the two year bond yields so called twos thirty spread
Speaker 1: as well. Get familiar with that. I think you're going
Speaker 1: to hear a lot about that into year in on
Speaker 1: Apple and on Spotify and on YouTube podcasts.
Speaker 4: It's single best idea
Speaker 2: I renewed the about people were in to the Lander