Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea after an exhausting week, and just a
Speaker 2: little backstory here. It's the time and this week alexis
Speaker 2: story and behind us are without exaggeration, twenty full time
Speaker 2: people just trying to make it go to get from
Speaker 2: Nathan Hager, to get to what we're doing, to get
Speaker 2: on to Carol and Tim in the afternoon. But around that,
Speaker 2: I'm not kidding, just one hundred full time people in
Speaker 2: the Middle East, and I'm probably under that it's probably
Speaker 2: two hundred as well, all sorts of conversations today on
Speaker 2: the war, it's economic impact as well ed Morse with
Speaker 2: Us yesterday from Hartree. Thank you for the response to that.
Speaker 2: Zaia Dawd is out of the London School of Economics,
Speaker 2: quite definitive. He was a Kennedy at Harvard and he
Speaker 2: holds court is our em economist. A report that went
Speaker 2: worldwide last night, and how we get to one hundred
Speaker 2: and sixty five dollars oil briefly the middle of this
Speaker 2: year and all of it because of a scope and
Speaker 2: scale of the Straits of muse. Let's listen.
Speaker 1: It is large, and it's large, and it's concentrated. If
Speaker 1: you think about it what it transports. It transports aill
Speaker 1: in gas and energy from the Middle East to the
Speaker 1: rest of the world, and the rest of the world
Speaker 1: sends almost everything else of the Middle East needs through
Speaker 1: that strait. So it is a lot of trait that
Speaker 1: goes there is concentrated in a crucial commodity that is
Speaker 1: all in gas. And the other thing with the strait
Speaker 1: of hormones, which is different than the Swiss Canalis, not
Speaker 1: just the size is not alternative. So most of the
Speaker 1: oil that's going from Saudi Arabia, from Iraq, from Vuae
Speaker 1: goes through hormas. All the energy that goes from Kuwait,
Speaker 1: Bahrain and Katar goes through hormess. It's a big shock
Speaker 1: twenty percent of global oil supplies, right. I can't think
Speaker 1: of a larger ol shock and release into history. This
Speaker 1: is not the largest than it's one of the largest,
Speaker 1: for sure.
Speaker 2: There's just absolutely brilliant And you know, I looked up
Speaker 2: the numbers here. That's what I do with AI and
Speaker 2: really the only equivalent to Harmuz is the Straits of
Speaker 2: Malacca down by Malaysia and Singapore and north of Indonesia.
Speaker 2: I mean other than Malaca and the conduit going up
Speaker 2: the Pacific Riom to Japan. There's no other scale and size.
Speaker 2: I think we're only beginning to really understand the factor,
Speaker 2: the magnitude scale of Harmus, the Persian, the Arabian golf
Speaker 2: as well with as Michael Nihrenberg of Rhythm, and of
Speaker 2: course this would have been the number one topic of
Speaker 2: the week except a war, and that is private credit
Speaker 2: and the challenges that are out there. He's with Rhythm.
Speaker 3: Let's listen, listen, there's going to be pockets of private
Speaker 3: credit that are that are going to you know, right now.
Speaker 3: Obviously in the news private credit is negative. I don't
Speaker 3: think all private credit is negative, to be totally honest.
Speaker 3: I think there's been some Obviously there's been some headlines
Speaker 3: with some of the other larger asset managers that have
Speaker 3: put up gates, and I think a lot of that
Speaker 3: has to do with what we what we've seen the
Speaker 3: distribution of private credit into retail, and when you take
Speaker 3: products that may not be one hundred percent suited for retail,
Speaker 3: and retail wants their money out because equity markets have
Speaker 3: turned over and folks are looking for liquidity. It creates
Speaker 3: a little bit of what we'll call us a so
Speaker 3: called run on the bank.
Speaker 2: Michael Nirenberg there with the rhythm today in private credit
Speaker 2: special things, as well to Hugh vonsteinas of Oliver Wyman,
Speaker 2: Oliver Wyman Vice Chair, Oliver Wyman, who was just brilliant
Speaker 2: there on getting through the weekend of private credit. Both
Speaker 2: of them fairly optimistic that it would be contained around
Speaker 2: the retailization of private credit and that a large part
Speaker 2: of the industry would continue to move forward. On podcast
Speaker 2: as we're on Apple, we're on Spotify, on YouTube podcasts,
Speaker 2: it's single best Ida
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