WEBVTT - Single Best Idea with Tom Keene: Ed Yardeni & Angela Stent

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The single best idea. What a set of great conversations today,

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<v Speaker 2>particularly the equity market. We started with Cam Dawson of

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<v Speaker 2>New Edge, and she was piercing about the ambiguities in

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<v Speaker 2>the market right now, the cut the back of the

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<v Speaker 2>forth of the equity market. She maintained a bullish tone,

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<v Speaker 2>but nothing like Edyard Denny who joined us for an

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<v Speaker 2>ample conversation. He reaffirmed an SPX it would be resilient

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<v Speaker 2>move above six thousand. Couldn't get him to get back

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<v Speaker 2>to seven thousand on standard of pores five hundred. But

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<v Speaker 2>we talked about the ambiguity that's out there. If yields

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<v Speaker 2>go up, they can cut one way or another way.

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<v Speaker 2>Here's Edyard Denny high oer eels should be bad, but

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<v Speaker 2>they haven't been bad. We have seen a global bull

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<v Speaker 2>market and in stocks, even though we've seen bond yields increase.

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<v Speaker 2>Now my view is that to a loge extent, bondials

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<v Speaker 2>of normalize, they're back to where they should be. Forty

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<v Speaker 2>a half percent is the right bond yield for the

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<v Speaker 2>US economy. That was the case before the Great Financial Crisis,

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<v Speaker 2>and I think it's the case against now. You know,

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<v Speaker 2>maybe we're getting some excesses in the UK, some excesses

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<v Speaker 2>in Japan. But you know, if you want to be

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<v Speaker 2>US centric, which to be, I think these bondials are

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<v Speaker 2>kind of normal. But I do see a risk that

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<v Speaker 2>there could be a mini debt crisis the way there

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<v Speaker 2>was in twenty twenty three. In some ways, Tom, I

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<v Speaker 2>hope there is, because I think now's a good time

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<v Speaker 2>for a debt crisis to get the attention of the

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<v Speaker 2>politicians in Washington that they got to get their act together.

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<v Speaker 2>Ed Jared Denny just really really quite good leaking economics

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<v Speaker 2>into the fixed income market and the equity market is well.

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<v Speaker 2>Angela's stent here's the backstory, the shock of Russia invading Ukraine.

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<v Speaker 2>I think it was a Wednesday, maybe a Thursday. And

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<v Speaker 2>the next day, as all of us were reeling, there

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<v Speaker 2>was a new book out, Putin's World, And in February

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<v Speaker 2>of the year a couple of years ago, in February

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<v Speaker 2>I picked my book of the year for the next

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<v Speaker 2>twelve months, and it was Angela's Stentz Putin's World. I

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<v Speaker 2>can't say enough about it. One volume, readable and absolutely authoritative,

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<v Speaker 2>Professor Stent of course at Brookings and Oliver good work.

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<v Speaker 2>We caught up with Angela's stent today here on the

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<v Speaker 2>Trump effect on Putin.

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<v Speaker 3>I don't think he's helping at the moment because, you know,

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<v Speaker 3>having gotten the Ukrainians and the Europeans to say, yes,

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<v Speaker 3>we have to have a thirty day interim ceasefire before

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<v Speaker 3>we could really negotiate, Putin has refused to do this.

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<v Speaker 3>Apparently in the phone call yesterday they didn't even discuss

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<v Speaker 3>us a ceasefire in two and a half hours. So

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<v Speaker 3>that's really not helping get us anywhere nearer to stopping

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<v Speaker 3>the killing and talking constructively about what comes afterwards.

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<v Speaker 2>Angela's stent and again the book is Putin's World, and

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<v Speaker 2>shout out if I can for Stephanie Baker of Bloomberg

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<v Speaker 2>News with her book on Vladimir Putin right now. It's

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<v Speaker 2>a valuable effort as well on your commute across the nation.

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