Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: Single best idea on a Monday and eventful Monday, of course,
Speaker 2: with the death of Pope Francis, and thanks to our
Speaker 2: team for putting together some interesting conversations on his passing
Speaker 2: and on the future of the Catholic Church and around that.
Speaker 2: The future of the market's really difficult. Asia opening at
Speaker 2: seven pm on Sunday and it rolled right over into
Speaker 2: the markets today. We're really following this almost tick by tick.
Speaker 2: I do not buy the idea, folks that this is
Speaker 2: just about worries of fed independence in jerown power. There's
Speaker 2: much more going on than that. We heard that from
Speaker 2: liz Anne Saunders of Charles Schwab. My first question to
Speaker 2: her was on oh, you know, growth and the unemployment
Speaker 2: rate and such. But on the equity market, it's sort
Speaker 2: of like every other conversation. Now what we.
Speaker 3: Were pounding the table last year on the face of
Speaker 3: very strong performance, be mindful of not letting your portfolio
Speaker 3: get as concentrated as what's embedded in these cap weighted indexes,
Speaker 3: and really pushing the notion of diversification. So you really
Speaker 3: come back to the basics. It's maybe boring to talk
Speaker 3: about the basics when the market is flying broadly or
Speaker 3: you've got the Magnificent seven flying. But that's really what
Speaker 3: it comes down to, is that you would have been
Speaker 3: at least relatively protected by not letting your portfolio get
Speaker 3: that concentration, by having diversification across asset classes and even
Speaker 3: within equities in international relative to US. So sometimes, unfortunately,
Speaker 3: it takes a tough market environment to sort of you
Speaker 3: send that message home in a more acute way.
Speaker 2: Lizzie sound is there on the equity markets. And certainly,
Speaker 2: even though we've heard that retail is putting money into stocks,
Speaker 2: Eric Belchuna is saying that's ebbed away a little bit
Speaker 2: here in the recent days. What I noticed last night
Speaker 2: was the collapse of the dollar. The word I'd use here.
Speaker 2: I rarely use this word, but it was accurate. At
Speaker 2: seven pm Wall Street time last night, the dollar plunged
Speaker 2: and it continued that this morning. Some real dynamics. Our
Speaker 2: first conversation on the dollar today with Bloomberg Intelligence is
Speaker 2: Damien Saso.
Speaker 1: Look at China as a barometer of what happened here
Speaker 1: when President she kind of took over and started putting
Speaker 1: in his red lines and basically talking about his warren
Speaker 1: the shadow banks, of which another trust, a huge billion
Speaker 1: dollar trust in China's about to default Evich overnight. And
Speaker 1: so you know, you've got all this stuff going on,
Speaker 1: and President she is not going to ride to the
Speaker 1: rescue of the markets domestically, hasn't ridden to the rescue
Speaker 1: of wealthy Chinese households. And so if you're seeing a
Speaker 1: lot of that kind of reverberate here in the US,
Speaker 1: what does that mean for the US dollar? The same
Speaker 1: thing it probably means for the China Yu Want. It's
Speaker 1: going to decline re tik to everything else. And that's
Speaker 1: what we're seeing here.
Speaker 2: We're going to continue our coverage of the dollar, not
Speaker 2: only the discrete idea of the dollar against pairs or
Speaker 2: the blended indexes, the d X Y and then the
Speaker 2: Bloomberg BBDXY Bloomberg Dollar Index BBDXY, which quite frankly is
Speaker 2: more holistic, it's better math. But the venerable DXY index
Speaker 2: of major trading partners call up the Dow Jones Industrial
Speaker 2: average of the FX market. But we'll look at that
Speaker 2: through the prism of equity, bond and commodity investment. Certainly,
Speaker 2: an eventful Monday to start the week. Thank you for
Speaker 2: your interest on YouTube, subscribe to Bloomberg podcasts and on
Speaker 2: YouTube podcasts. It is a single best idea