Speaker 1: Bloomberg Audio Studios, Podcasts, radio news, single best idea after
Speaker 1: a wonderful trip to Boston. Thank you to President Collins
Speaker 1: for her wonderful team with really interesting conversations at a
Speaker 1: conference in Boston on payments, all sorts of highlights to
Speaker 1: that the major highlight, and I really want to talk
Speaker 1: here about sometimes the workload is overwhelming. Michael McKee in
Speaker 1: one twenty four hour period a conversation with Susan Collins
Speaker 1: and then with Austin Gouldsby of Chicago, that's a workload.
Speaker 1: Those are two very different people. You got to be
Speaker 1: on your game, and Mike McKee really delivered on Friday
Speaker 1: for all of us at Bloomberg. We delivered today with
Speaker 1: sort of a reset into November, into the end of
Speaker 1: the year, Henrietta Tres with this and all that's going
Speaker 1: on in Washington. You know the headlines and all that.
Speaker 1: I want to go beneath the headline data on what's
Speaker 1: going on in our politics. Here is Henrietta Tre's Eveda
Speaker 1: partners on the nuances of the Senate, the House and recess.
Speaker 2: I think, especially because there's going to be so many
Speaker 2: freshmen senators, not just the turnover from the election, but
Speaker 2: all the senators that I expect the president elected tap
Speaker 2: to go into the administration. There could be as many
Speaker 2: as nine freshman senators. And it's worth bearing in mind
Speaker 2: that over seventy five percent of the House has only
Speaker 2: ever had Donald Trump as their Republican president. So there
Speaker 2: is this very real deference. Certainly it's held so far.
Speaker 2: It's only been two weeks, of course, but this very
Speaker 2: real deference. And I'd add on just one more layer
Speaker 2: here that the president is so much more popular than
Speaker 2: the down ballot Republicans. In some of these states, there
Speaker 2: were as many as forty seven thousand Republican voters who
Speaker 2: went in and pulled a lever for Trump and then
Speaker 2: left the ballot box. They did not vote Republican down
Speaker 2: the ticket. So a lot of those Republican members from
Speaker 2: Spacific big swing states need to be differential to Trump
Speaker 2: because that's what their voters want them to be.
Speaker 1: Henrietta Trace absolutely brilliant there with some of the statistics,
Speaker 1: the data of this moment we're living. And I'm so
Speaker 1: guilty of this, of the framework that I have from
Speaker 1: ten years ago, or twenty years ago, or frankly longer
Speaker 1: back than that, and she brings it right up to
Speaker 1: the immediacy of the Republicans in the House, and whatever
Speaker 1: the statistic was she had that so many of them
Speaker 1: only know President Donald Trump as a Republican president. We
Speaker 1: moved on any number of discussions to look at, and
Speaker 1: one of them, of course is ETFs and looking at
Speaker 1: the leveraged ETFs that are out there, I guess you
Speaker 1: get a speculative play. Amanda Rabella joined us some dws
Speaker 1: here taking advantage of leverage.
Speaker 3: The thing about the leverage ETFs is that it's not
Speaker 3: two times on a long term basis or three times
Speaker 3: on a long term basis. People need to understand this
Speaker 3: is a volatility resetting a GB. It in an ETF
Speaker 3: and ETN instructured products. So I think when we start
Speaker 3: to see volatility increasing quite significantly, we're not at the
Speaker 3: highs of the market, but we are kind of teetering upwards.
Speaker 3: Then you start to see that the payoff doesn't work,
Speaker 3: and we've decided we've made a conscious decision to not
Speaker 3: be in the levered space here in the US.
Speaker 1: I know I offered the triple leverage.
Speaker 3: Why is that? I mean, it seems to be popular
Speaker 3: products it would be, but I think that you know,
Speaker 3: there are some fantastic you know, competitor peers that we
Speaker 3: have in the market, like who already owned that space.
Speaker 3: So so I think that you know, for the past
Speaker 3: couple of years, or you're in a bit, cash has
Speaker 3: yielded enough and it's you know, effectively risk free, that
Speaker 3: rotating into cash could have made sense all of us.
Speaker 3: You know, when we think about income requirements within portfolios,
Speaker 3: you know, now five became the new normal, little bit,
Speaker 3: and so we need to think about how we're still
Speaker 3: going to generate that five. So we like international dividends
Speaker 3: a lot.
Speaker 1: Amanda, Abella DWS. I do want to point out us
Speaker 1: Eric Biltchu has joined us from Bloomberg at ETFs. He
Speaker 1: was absolutely mesmerizing on this moment of exchange traded funds
Speaker 1: and bitcoin look for that across all of Bloomberg. He said,
Speaker 1: he's got an incredibly busy Monday here doing all sorts
Speaker 1: of different projects for his ETF mission. We say thank
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