Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: Single best idea, well, the single best idea, as they
Speaker 2: came to me, I don't know, three four months ago
Speaker 2: and they said, what are you doing the Friday after Thanksgiving?
Speaker 2: I'm taking off a huge part of the end of
Speaker 2: the year. And I said, well, I certainly deserve to
Speaker 2: do it. Let everybody else off. Instead, we are going
Speaker 2: to have a full blown out show the Friday after
Speaker 2: Thanksgiving in these tumultuous times. Lisa Matteo, Michael Barbe with us,
Speaker 2: and of course Paul Sweeney will come in as well.
Speaker 2: And I'm really you know, like goosebumps. I mean, we're
Speaker 2: really going to try to do it on Friday with
Speaker 2: a great lineup and worldwide in the nine o'clock hour
Speaker 2: on Bloomberg Television as well. Single best Idea. Let's start
Speaker 2: with Lori Calvisina trying to summarize this market the way
Speaker 2: John Williams of the New York Fed turned the market
Speaker 2: around on Friday. Here from RBC, Lori Kelvisina on your stress.
Speaker 3: But I think the reality is that there have been
Speaker 3: a lot of things causing stress in this market, maybe
Speaker 3: not any single one of them. Enormous stress, but it
Speaker 3: all kind of adds up. I think the FED was
Speaker 3: one of those, frankly, because we had seen expectations for
Speaker 3: cuts taken out, and when you've seen that happen in
Speaker 3: recent years, you know, kind of going back to late
Speaker 3: twenty twenty two, that tends to trip up the stock market,
Speaker 3: and when we put cuts back in, it tends to
Speaker 3: help the stock market. So I have no idea what
Speaker 3: they're going to say. I know that RBC's rate strategist
Speaker 3: has been in the December skip camp, and then he
Speaker 3: thinks they resume next year. So my guess is the
Speaker 3: drama is not yet over. But we also know that
Speaker 3: valuations have been a problem since August, and we've seen,
Speaker 3: you know, f y two valuations sort of bumping up
Speaker 3: against ceilings. We're going to cycle into new earnings at
Speaker 3: some point, but right now companies don't want to talk
Speaker 3: a whole lot about twenty twenty six.
Speaker 2: Lori Kelvisina with RBC Capital Markets. We moved on to
Speaker 2: Bitcohina or is I once said, bitdog, how wrong was
Speaker 2: I on bitcoin? And picked the price ten thousand, thirty thousand,
Speaker 2: fifty thousand, consistently wrong all the way up? Who nailed
Speaker 2: the call, Michael McGlone with Bloomberg come out, and he's
Speaker 2: just doing great work on gold, on copper, and of
Speaker 2: course on bitcoin. The purview from Miami Michael mcgloone, the
Speaker 2: next step for bitcoin.
Speaker 1: I want to tilt over to your term before time
Speaker 1: of bitdog. I think is becoming bitdog. The world's changed
Speaker 1: for cryptocurrencies. We had this massive pump on the having
Speaker 1: and the ETF pilot and the Trump administration jumping on
Speaker 1: board and very well entrenched into space now and it's peaked.
Speaker 1: It's classic. I think peak bull market peaks on euphoria.
Speaker 1: The thing is now it's dragging everything lower with it.
Speaker 1: So as of Friday, the Bloomberg Galaxy Crypto Index was
Speaker 1: down twenty one percent. On the air was up almost
Speaker 1: a third. Bitcoin is right now down about ten percent
Speaker 1: year in the key things, where's it go? Next thing
Speaker 1: I look at is at the same time Kurtas are
Speaker 1: going lower. Stock market volatile is just buried.
Speaker 3: Now.
Speaker 1: We know the VIX is up, but one hundred and
Speaker 1: twenty day volatile he is still around eleven percent. That's
Speaker 1: a very low level. So I think the whole space
Speaker 1: has got more more d risky to go into the
Speaker 1: end of the year, which is probably the primary risk.
Speaker 2: Michael mcgloane looking each day at commodities for US as
Speaker 2: we look at equities, bonds, currencies and commodities on your
Speaker 2: podcasts and Spotify on Apple on YouTube podcasts, it's single
Speaker 2: best idea