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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, some of us idea

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Speaker 1: on a job day Friday, and once again I'm founding

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Speaker 1: major shout out Stephanie Roth. We had her on briefly.

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Speaker 1: She took a victory lap off her enthusiasm a few

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Speaker 1: days ago. She's at Wolf Research. Stephanie Roth nailed it,

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Speaker 1: as did others, about a glass half full economy. Forget

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Speaker 1: the gloom, at least for now had an eclectic set

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Speaker 1: of guests, to say the least. And of course all

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Speaker 1: of it devolves down to what the Fed's going to do.

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Speaker 1: Ira Jersey, Bloomberg Intelligence, say goodbye to fifty beeps.

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Speaker 2: You know this data is going to take out any

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Speaker 2: chance of fifties probably through the next two meetings at least,

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Speaker 2: if not, if not through January at least, and then

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Speaker 2: after that. Yeah, you know, I think that this and

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Speaker 2: this is where the two year yield being being somewhat higher,

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Speaker 2: could could be maintained. And that's where does the terminal

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Speaker 2: rate go. Remember we were pricing just a week ago

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Speaker 2: for interest rates by the end of next year to

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Speaker 2: be under three percent for the Fed Fund rate, so

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Speaker 2: that probably is starting to get repriced. Now we're now

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Speaker 2: around around three and an eighth, and I suspect that

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Speaker 2: that might go a little higher, particularly if we get

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Speaker 2: a you know, an inflation print that doesn't show that

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Speaker 2: that that inflation is moderating even further. So I think

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Speaker 2: there is a risk here that that this is the

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Speaker 2: better scenario that we've been talking about. Like we never

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Speaker 2: believed in the soft landing. It was either hey, the

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Speaker 2: economy's either going to chug along or we're going to

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Speaker 2: fall in recession. And it seems like maybe that, you know,

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Speaker 2: beginning one is where we're headed.

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Speaker 1: Ara Jersey publishing this weekend for Bloomberg Intelligence. Look for

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Speaker 1: that on the terminal on Monday. He'll get it out

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Speaker 1: today and you'll see Saturday and Sunday as well as

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Speaker 1: Global Wall Street Works twenty four seven. Ellen z Thatner at

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Speaker 1: Morgan Stanley has to recalibrate. She will published for Morgan

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Speaker 1: Stanley Investment Management a new View, A better view, a

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Speaker 1: change view on the American economy. Here, Ellen Zenner, this is.

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Speaker 3: Always the case, right, we get this restatement in data,

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Speaker 3: whether it's just the two month you know, netupward revisions

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Speaker 3: in this report, or all of those benchmark revisions that

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Speaker 3: came last week. You know, oftentimes these revisions can suddenly

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Speaker 3: make us realize that we're sitting on an economy that

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Speaker 3: is different from.

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Speaker 4: What we thought before.

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Speaker 3: The foundation is stronger now, that doesn't mean that the

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Speaker 3: risks are to the upside versus the downside. I think

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Speaker 3: that the higher we run, the greater the risk is

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Speaker 3: to the downside when companies do shift and decide they

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Speaker 3: don't want to the higher anymore.

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Speaker 1: Ellen Zenner there, we talked fishing, of course, as we

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Speaker 1: always do. An owner of Ken Pruitt the Lake Ken Preuit,

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Speaker 1: and I learned today about Spruce Creek, Pennsylvania. It's sort

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Speaker 1: of like in between Philadelphia and Pittsburgh and maybe a

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Speaker 1: little bit south. But I mean ike fish there, Jimmy

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Speaker 1: Carter fish there. I guess it's like a huge I

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Speaker 1: had no idea there were sturgeon in Pennsylvania, but Allen's

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Speaker 1: that there informing as always, liz Anne Saunder's darkened the door,

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Speaker 1: and of course this after the jobs report. She's a

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Speaker 1: Charles Schwab investment strategist, and we talked timeline and she's hesitant,

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Speaker 1: you know, within what she's doing at Schwab to go

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Speaker 1: out three years, four years, six years, Ed yard Denny

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Speaker 1: reaffirmed last night now sixty thousand, SPX eight thousand. Wow.

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Speaker 1: Liz Anne Sanders on the YARDENNI call.

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Speaker 4: Look Ed's been right. We've been very much in the

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Speaker 4: same campus at over the past four four years or

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Speaker 4: so and talking about the rolling nature of this and

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Speaker 4: rolling strength and weakness such that you don't get an

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Speaker 4: officially declared recession, you don't get a bottom falling out

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Speaker 4: all at once. All that said, I don't envy strategists

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Speaker 4: and economists who operate with year end price targets or

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Speaker 4: five years in the future price targets. I just I

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Speaker 4: think that's a fool's errand and that may be more

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Speaker 4: than appropriate for an institutional client base and institutional audience.

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Speaker 4: But as you all know, at SCHWAB, we are individual investors,

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Speaker 4: and some point in time forecast of what the DOW

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Speaker 4: or the S and P is going to do, I'm

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Speaker 4: not sure that that's terribly helpful. So it's one of

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Speaker 4: the reasons why we don't throw our hat in that

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Speaker 4: ring of forward forecasts.

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Speaker 1: We finished strow on this Friday with Lizaan Saunders. We're

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Speaker 1: on YouTube. Subscribe to Bloomberg podcast. Can't say enough about,

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Speaker 1: you know, the amount of people listening on YouTube, the

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Speaker 1: length of time people listening. It's a completely original technology.

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Speaker 1: I'll be honest. I'm dazzled by the reach, the changing

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Speaker 1: of technology that we see on YouTube, both in America

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Speaker 1: and to those of you internationally as well. It's going

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Speaker 1: to be an amazing weakness today. Really, you know, I'm

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Speaker 1: talking to Joe Matthew with Balance of Power twice today.

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Speaker 1: All of a sudden, it's a dash to November fifth.

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Speaker 1: We're on YouTube podcasts, on Apple podcasts. Single best I