1 00:00:02,520 --> 00:00:11,039 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:12,880 --> 00:00:15,520 Speaker 2: The single best idea on a Friday that I thought 3 00:00:15,720 --> 00:00:20,279 Speaker 2: would be, you know, busy and all that. Not. This 4 00:00:20,480 --> 00:00:24,200 Speaker 2: was an absolutely insane new slow including starting out of 5 00:00:24,760 --> 00:00:29,240 Speaker 2: the coverage of a derivative collapse in the United Kingdom. 6 00:00:29,320 --> 00:00:31,440 Speaker 2: I'll get to that in a moment with our wonderful 7 00:00:31,920 --> 00:00:35,879 Speaker 2: reporter Christopher Veron came in today from stratigas really important 8 00:00:35,920 --> 00:00:39,640 Speaker 2: discussion of the trends in place in the market. He 9 00:00:39,800 --> 00:00:44,599 Speaker 2: was remarkably optimistic and looked at Catharsis in software here 10 00:00:44,720 --> 00:00:46,760 Speaker 2: Christopher Verone on equities. 11 00:00:47,000 --> 00:00:49,120 Speaker 3: So I think that trend that began really in late 12 00:00:49,200 --> 00:00:52,760 Speaker 3: twenty twenty four continues here, and it continues in a 13 00:00:52,800 --> 00:00:55,440 Speaker 3: very big way. If you look at US marketcap as 14 00:00:55,480 --> 00:00:57,480 Speaker 3: a share of global market cap, that peaked in the 15 00:00:57,480 --> 00:00:59,840 Speaker 3: fourth quarter of twenty four, So we're almost eighteen months 16 00:00:59,880 --> 00:01:05,039 Speaker 3: into this transition. Put aside the dollar considerations form moment, 17 00:01:05,800 --> 00:01:08,039 Speaker 3: and just look in the month of February, you have 18 00:01:08,160 --> 00:01:10,720 Speaker 3: new highs in almost every global market. Where do you 19 00:01:10,720 --> 00:01:14,320 Speaker 3: not have a new high? Triple q's SMP right. The 20 00:01:14,360 --> 00:01:16,760 Speaker 3: price action is telling you the character of the global 21 00:01:16,840 --> 00:01:17,720 Speaker 3: leadership has changed. 22 00:01:18,240 --> 00:01:21,720 Speaker 2: Chrisopheron as tritigue is there, just piercing conversation. We'll do 23 00:01:21,800 --> 00:01:24,680 Speaker 2: much more st contiguous here and a company week stand 24 00:01:24,760 --> 00:01:30,000 Speaker 2: Clifton just expert on Washington policy. So here's the way 25 00:01:30,000 --> 00:01:33,480 Speaker 2: it works. People like me synthesize in I mean, I 26 00:01:33,480 --> 00:01:35,679 Speaker 2: don't have a real job. We all understand that. But 27 00:01:36,360 --> 00:01:42,120 Speaker 2: we have people here doing grunt reporting, like I'm talking serious, 28 00:01:43,120 --> 00:01:48,680 Speaker 2: serious investigative reporting. Our team at Queen Victoria Street in 29 00:01:48,720 --> 00:01:54,560 Speaker 2: London has reported on a tobaccle in the derivatives market 30 00:01:54,640 --> 00:01:58,840 Speaker 2: called MFS, which is much like what we saw a 31 00:01:58,920 --> 00:02:02,720 Speaker 2: number of months ago, quarters ago here in America. Leading 32 00:02:02,760 --> 00:02:07,280 Speaker 2: our coverage Constantine Concorus, Bluebird News London. 33 00:02:07,480 --> 00:02:10,040 Speaker 4: You know, the examples are adding up, right, first Brands, 34 00:02:10,680 --> 00:02:13,600 Speaker 4: Trickle Ore now this right, So I feel that we're 35 00:02:13,639 --> 00:02:17,160 Speaker 4: in the point in the cucle where, yeah, fraud is 36 00:02:17,200 --> 00:02:21,079 Speaker 4: surfacing to the top and people kind of push into 37 00:02:21,160 --> 00:02:25,640 Speaker 4: corners of finance to get that extra return. And it's 38 00:02:26,480 --> 00:02:29,639 Speaker 4: probably and hindsight looks like a bad idea. 39 00:02:29,720 --> 00:02:33,120 Speaker 2: Oh it sounds familiar. We will have much more on 40 00:02:33,160 --> 00:02:37,600 Speaker 2: this in the coming hours, days and weeks on podcasts. 41 00:02:37,600 --> 00:02:41,440 Speaker 2: We're on an Apple AT's Spotify on YouTube podcasts. It's 42 00:02:41,480 --> 00:02:44,799 Speaker 2: single best idea