Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Single best idea, which is it was an odd week
Speaker 2: into an odd weekend. Already on Friday as we tape,
Speaker 2: I'm like looking into next week and tech earnings after
Speaker 2: the absolutely extraordinary moment that is Intel. I'll be honest,
Speaker 2: I did not see it coming. A lot of different
Speaker 2: cross themes here, and of course on the War Special
Speaker 2: thanks to Margaret Brennan and CBS and Face the Nation.
Speaker 2: We do that on Bloomberg Radio at two pm in Washington,
Speaker 2: New York and Boston on Sunday afternoon with Margaret Brennan.
Speaker 2: But just a cacophony of themes that are out there.
Speaker 2: Francis Donald was with us. She's in Montreal with the
Speaker 2: Royal Bank of Canada. Has an always good look at
Speaker 2: the United States economy. We started on onerous tariffs on
Speaker 2: aluminium in Quebec.
Speaker 1: In Canada, we've got aluminum steel, some on autoos and lumber,
Speaker 1: and yet the economy has been largely resilient to this
Speaker 1: trade shock. So far. It has benefited from again narrow
Speaker 1: trade shock, fairly deep, lots of fiscal money in the pipeline,
Speaker 1: lots of rate cuts that came through and Canada's stock
Speaker 1: market hidden all time high, helped by gold and balance
Speaker 1: sheets are doing better. So the economy actually produced more jobs.
Speaker 1: Canada produced more jobs in twenty twenty five than the
Speaker 1: United States, and perhaps most importantly, inflation is back down
Speaker 1: around two percent. By the way, Canada one tenth the
Speaker 1: size of the US, so some resilience, there are some pivoting,
Speaker 1: diversification of trade, and you know you've mentioned some of
Speaker 1: the sentiment up in Canada. Also a real big pullback
Speaker 1: in Canadians visiting the United States twenty five percent, and
Speaker 1: if you were, Canadians headed down to the US, so
Speaker 1: lots still in play. We've got these big negotiations, but
Speaker 1: focus on the longer trends. There's some good things going
Speaker 1: on as well.
Speaker 2: Francis Donald of OURBC on we went to Jordan Rochester
Speaker 2: of Miszoo. A broad theme here of what foreign exchange
Speaker 2: says about the market, but at the end of the day,
Speaker 2: and particularly with Miszoo out of Tokyo, a look at
Speaker 2: the stressor that's out there on my Bloomberg launch pad,
Speaker 2: looking at equities, bonds, currencies and commodities, and that's a
Speaker 2: Japanese yen for global Wall Street. There's a real tension
Speaker 2: here of an ever weaker yen that's holding on it
Speaker 2: wants to go weaker one sixty one sixty one, or
Speaker 2: doesn't want to go stronger and plunge down to a
Speaker 2: strong yen one p. Fifty two here Jordan Rochester.
Speaker 3: While the Finance Minister Katyama has been threatening the idea
Speaker 3: or teasing the idea of ethics intervention going all the way
Speaker 3: back to October November December last year and we still
Speaker 3: are yet to have it. But it makes it really
Speaker 3: difficult to sell the en if you're fighting the government,
Speaker 3: if you do not want to be on the other.
Speaker 2: Side of that trade.
Speaker 3: The day that dolly n tanks three percent, and that's
Speaker 3: why it's been so boring to watch Dollian on the
Speaker 3: tape and just drifting between one fifty eight and one sixty.
Speaker 3: I think they won't need to. I think when we
Speaker 3: get to one sixty the market starts to slow down.
Speaker 3: If for some reason, Tom we got to one sixty one,
Speaker 3: one sixty two, let's say the war restarts and that
Speaker 3: kind of got us to those levels, then I could
Speaker 3: see them doing it. But I don't see the motivation
Speaker 3: for them to actually spend the money right now, I
Speaker 3: just need to talk it down. It's working.
Speaker 2: Jordan Rochester of Missoul and Podcasts. We're on Apple, we're
Speaker 2: on Spotify, on YouTube podcasts. It's single best idea.