Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Single best idea. We've been up for twenty four hours
Speaker 2: in the debate. We were beginning to blow up our
Speaker 2: Friday effort. The team did it. Just a fabulous job
Speaker 2: of making those tough decisions. Do you cover the inflation
Speaker 2: report at eight thirty end of June thirty? The view
Speaker 2: into the quarter I got from Bruce Casman today and
Speaker 2: Emmy Shoe at JP Morgan, a fifty nine page outlook
Speaker 2: into twenty twenty four. I promise you I will not
Speaker 2: read it this weekend. We've got continued economic data coming
Speaker 2: out Michigan, a little light. Inflation came in a little light.
Speaker 2: I guess markets lift up, but all of it was
Speaker 2: pushed aside by what the nation witnessed last night between
Speaker 2: the former president and the president President. And thank you
Speaker 2: to all of Bloomberg Politics, particularly David Gerha in Atlanta,
Speaker 2: who got out front of this story with his conversation
Speaker 2: with the governor from California and others. I could go
Speaker 2: on for the six minutes of single best idea of
Speaker 2: all the people that piece this together. I was sitting
Speaker 2: on the couch with Vetol last night as the show
Speaker 2: was blown up. And the first name I mentioned was
Speaker 2: Terry Haynes of Pangaea and not a shock. He wrote
Speaker 2: a brilliant first note, I'll say at eleven pm last night,
Speaker 2: and the second name I mentioned was Henrietta Trace. She's
Speaker 2: at Veda Partners. She is encyclopedic, and what's different about
Speaker 2: her than talking heads is she's been intimately involved in
Speaker 2: the machinery about politics gets done. Henrietta Trey's on the
Speaker 2: twenty fifth Amendment.
Speaker 1: The good news for Democrats here is a sixty six
Speaker 1: percent of the population already wants somebody other than Biden
Speaker 1: and somebody other than Trump to be on the ticket.
Speaker 1: So if it's going to happen, this is enough kind
Speaker 1: of the best way. It's been speculating about all year.
Speaker 1: You can see it from the predictive markets. There has
Speaker 1: been at least twenty percent odds that Biden would not
Speaker 1: be the nominee. I think that's much higher this morning,
Speaker 1: and that is going to give you a baseline to
Speaker 1: start with on these sort of otherwise wildly extreme circumstances
Speaker 1: that are pretty normalized this year. A lot of the
Speaker 1: American public is socialized to the fact that this might happen.
Speaker 1: Certainly the investment community is.
Speaker 2: Henrietta Trees and had so much more to say, And
Speaker 2: just to give you some of the highlights, Rick Davis
Speaker 2: joined us for years with Senator McCain. Rick Davis was
Speaker 2: just absolutely brilliant and analogs in non analogs as comparing
Speaker 2: President Reagan and the First Lady with President Biden and
Speaker 2: the First Lady. And I'm just trying to sort out
Speaker 2: the highlights that we had. Greg Valier, I thought was
Speaker 2: just brilliant and very cautious about a shift. Greg Valier
Speaker 2: is certainly not in the camp that you're going to
Speaker 2: see dramatics and fireworks, and that President Biden, it appears,
Speaker 2: will be in this for the long haul. But many
Speaker 2: other differing opinions out there. We did see inflation. Neil
Speaker 2: Dudda have made very very clear that he is looking
Speaker 2: for an EBB, if you will, from his great optimism
Speaker 2: that he's seen on economic growth and then on the markets,
Speaker 2: we had to go to Ben Ladler of E Toro.
Speaker 2: Ben Laydler in December of twenty eighteen was a lonely
Speaker 2: voice saying equities have value and you will prosper with ownership,
Speaker 2: and then he said that in October of I believe
Speaker 2: it was twenty twenty two, and he said that in
Speaker 2: October of twenty three. You get to see a pattern here.
Speaker 2: Ben Ladler on what you need to do going into
Speaker 2: Q three twenty twenty four.
Speaker 3: I think big take is absolutely fine, and this is
Speaker 3: very fundamentally droven. It's all about the earnings, which are
Speaker 3: massively out surprising. He I'll continue to surprise.
Speaker 1: Well.
Speaker 3: I think the story of the second half is this
Speaker 3: delayed rotation into everybody else. If we get the right cuts,
Speaker 3: if we get affirming of economies, it's gonna be all
Speaker 3: those other smaller sectors which are much cheaper, that are
Speaker 3: much more sensitive to that than big text. The big
Speaker 3: text fine, but as we get the cuts right cuts
Speaker 3: coming in, I think everyone else is going to start performing.
Speaker 3: And I remember a little bit of money goes a
Speaker 3: very long way in those assets because they're all just
Speaker 3: much much smaller and less love.
Speaker 2: Ben Ladler of ET Major shout out the Scarlet Foo
Speaker 2: setting for Polsweeney Today we obligatory did the Scarlet Foo
Speaker 2: celebrity Loadstone section. We thank her for her comments and
Speaker 2: Ben Affleck and Jalo that was really timely and to
Speaker 2: get us into the weekend. We will be here on Monday.
Speaker 2: With the fallout of this debate, We'll be here on
Speaker 2: Monday to look forward to Q three and economics, finance, investment,
Speaker 2: and international relations from New York An Apple Podcasts, Single
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Speaker 3: N L Incident, m