Speaker 1: Bloomberg Audio Studios, podcasts, radio news a single best idea
Speaker 1: and after the marathon yesterday, thanks to our team for
Speaker 1: putting together a special edition yesterday five hours of Bloomberg surveillance.
Speaker 1: I'm like, you know, are we really going to cover
Speaker 1: a hearing for two hours? But it was fascinating. The
Speaker 1: special things to Terry Haynes at Pangaea for joining us
Speaker 1: as well and other worthies to give perspective as we
Speaker 1: go to our special coverage of the inauguration. Look for
Speaker 1: that Monday, Martin Luther King Day at twelve noon we
Speaker 1: begin substantial coverage into the afternoon. I know David Kerra
Speaker 1: will attend there as well. And today, just within the
Speaker 1: blur of bank earnings, Alison Williams was outstanding with Bloomberg Intelligence,
Speaker 1: providing context to the mass and the scale of these
Speaker 1: big banks. You've heard me say it before. I literally
Speaker 1: think they're hiding how successful they are. That's a controversial statement,
Speaker 1: but I'll make it as well. No controversy today that
Speaker 1: the equity markets of the worry, of course, turning around
Speaker 1: with the CPI disinflation report. At a thirty Before that,
Speaker 1: we talked to Michael Darta of Roth Michael Darta talking
Speaker 1: about the end of the mag seven boom.
Speaker 2: I would say, from a sector based perspective, the areas
Speaker 2: that have really dominated the performance of the S and
Speaker 2: P five hundred, I would be I would be cautious
Speaker 2: on from here, and we know what those are, you know.
Speaker 2: I do think this rate spike, certainly, you know, the
Speaker 2: residential real estate market needs this rate spike like it
Speaker 2: needs a hole in the head. So I do think
Speaker 2: it will be damaging to parts of the economy, no
Speaker 2: doubt about it. But if it, you know, if if
Speaker 2: a surge in the term premium ends up being a
Speaker 2: dragon growth and it's also self limiting to some extent,
Speaker 2: So I think that can feedback into a story where
Speaker 2: we want to actually be more bullish on bonds here,
Speaker 2: you know, still bullish on the energy space, right, you know,
Speaker 2: looking to areas that have not been dominating the performance
Speaker 2: of the S and P five hundred, I think it's
Speaker 2: time for a bit of a switch up.
Speaker 1: Michael Darta Roth. One of the things we've done pushing
Speaker 1: out I can't believe I'm saying this for over two decades,
Speaker 1: is to provide a heritage, a character, a fabric to
Speaker 1: who these people are. The first time I had Michael
Speaker 1: darta on we talked about him, he was like, I
Speaker 1: don't think he could shave with Judewininski, who was a really,
Speaker 1: really highly regarded more conservative voice within economics and data
Speaker 1: was I think just out of Wisconsin at the time
Speaker 1: working for Jude Weininsky. But all these guests have histories,
Speaker 1: they have heritages. Peter Scheer is with academy securities in
Speaker 1: more than any do you want to speak to. He
Speaker 1: is hardwired into the dialogue of the Naval Academy and
Speaker 1: the other military services. We digress today away from his
Speaker 1: ability to participate in the markets, but still be cautious
Speaker 1: about some of the worries picking up there, like leverage.
Speaker 1: Peter Shecher on his academy securities, Peter Sheer on his
Speaker 1: admirals and his.
Speaker 3: Generals Beyond any individual. I think when our team talks,
Speaker 3: they're looking for a military that progresses, figures out where
Speaker 3: we're going to be. You know, I think there's a
Speaker 3: lot of questions. Do these large platforms still make sense,
Speaker 3: do aircraft careers make sense? How much money should be
Speaker 3: spending on bent on drones? What sort of technology do
Speaker 3: we need how do we go forward, How do we
Speaker 3: make the military so they hit the recruiting goals again. Right,
Speaker 3: something's happened where Space Force and the Marine Corps hitting
Speaker 3: their roles. So I think they need to revitalize this.
Speaker 3: I think there's a lot of concern about how this
Speaker 3: is being led in the past, how it can be
Speaker 3: led going forward. I think there's an optimism and at
Speaker 3: the you know, individual soldier level, it's good. But how
Speaker 3: do we prepare for the next war? Are we stretched
Speaker 3: too thin? One of our generals, General Ashley, he quotes,
Speaker 3: can't remember who he quotes, but this probably goes back
Speaker 3: ten years ago. Our enemies used to fear us and
Speaker 3: respect us. Then it switched to our enemies maybe no
Speaker 3: longer respect us, but they fear us now. It's unclear
Speaker 3: that they respect or fear us. Right, We've had so
Speaker 3: much you know, measured response that we have to go
Speaker 3: and figure out deterrence again properly. Deterrence clearly fell apart
Speaker 3: a little bit. If a rans comfortable attacking Israel, if
Speaker 3: Russia is attacking Ukraine.
Speaker 1: Valuable from Peter Scher of Academy Securities will continue with
Speaker 1: our coverage, of course for the leadership of David Gura
Speaker 1: and our entire Washington team on our political debate in
Speaker 1: this nation, to the inauguration and into the second administration,
Speaker 1: the second term for President Trump. On this commute across
Speaker 1: the nation again, thank you. Ninety nine one FM Washington,
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Speaker 1: and of course good morning across New England on ninety
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