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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: The single best idea and the single best idea is

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Speaker 2: we need sleep. Starting last night, I'm going to guess

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Speaker 2: ten pm, but really to midnight. We blew up the

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Speaker 2: show once twice, three times. It was really extraordinary to

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Speaker 2: see the news flow out of Iran, out of Israel,

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Speaker 2: and then to digest it through the markets in a

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Speaker 2: big leap in oil. Oil at one point of twelve percent,

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Speaker 2: and you know it's up four to five percent as

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Speaker 2: we tape your single best idea. We were advantaged with

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Speaker 2: Rebecca Patterson out the Consulate Foreign Relations, Rebecca Patterson, and

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Speaker 2: the dynamics of oil imports.

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Speaker 3: They rely on oil and energy imports a lot more

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Speaker 3: than the US. We're self sufficient effectively in energy, so

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Speaker 3: they're going to be much more vulnerable to that as

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Speaker 3: well as just trade between the Middle East and Europe.

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Speaker 3: But I do think the US is more vulnerable than

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Speaker 3: normal right now because even though the hard data, so

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Speaker 3: to speak, the economy in the US is moderating but

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Speaker 3: still solid, you do have this heightened level of uncertainty

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Speaker 3: among businesses in particular. You're just adding more fuel to

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Speaker 3: that fire with this. If you want business activity to pause.

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Speaker 3: This is going to contribute.

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Speaker 2: Rebecca Pattinson there with the console on foreign relations. One

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Speaker 2: of our first calls last night Teena Fordum Global Insight.

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Speaker 2: She was absolutely brilliant. Here is Tina Fordam on the

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Speaker 2: divisiveness of America.

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Speaker 1: I think one of the tragedies of the present moment

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Speaker 1: is that every single issue that the US is facing

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Speaker 1: is now left coded and right coded in a way

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Speaker 1: which is very bad for the world and for dealing

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Speaker 1: with threats. I am in this role in this because

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Speaker 1: I think that in order for commerce and financial markets

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Speaker 1: to function, we need safety and stability, and unfortunately it's

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Speaker 1: very difficult to have those conversations, even on Wall Street

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Speaker 1: anymore without going down some kind of rabbit hole of

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Speaker 1: whether one is defending Ukraine policy or is pro or

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Speaker 1: anti Israel, when what we really need to be looking

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Speaker 1: at as investors is the potential for conflicts to move

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Speaker 1: from regional to systemic, to generate shocks for asset prices

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Speaker 1: or to growth. And we're not having those conversations anymore.

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Speaker 2: A Tina Fordham Fortum Global Insight. I'd like to tell

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Speaker 2: you that I know where the news flow will be

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Speaker 2: Sunday I'm certain I don't know where it will be Monday.

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Speaker 2: Please stay with us across all of our platforms internationally.

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Speaker 2: Is these events unfold across the nation on your commute.

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Speaker 2: Thank you Serious XM Channel one twenty one for that.

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Speaker 2: Listening internationally on Spotify getting a huge response to that

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Speaker 2: with surprise, I don't much about that, but Spotify proving

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Speaker 2: very popular is a way to listen to us internationally.

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Speaker 2: Thank you for that. On YouTube, Subscribe to Bloomberg podcasts

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Speaker 2: and out YouTube podcasts. It's single best idea