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

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Speaker 2: Single best idea on a crazy week. One week ago,

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Speaker 2: early in the morning, the VIX was at twenty eight,

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Speaker 2: which is not crisis, but is a benchmark. Anything over

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Speaker 2: thirty is OMG. And we're at twenty eight, and there's

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Speaker 2: a little angst out there. And once again, whatever the

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Speaker 2: reason and whatever your rationalization, down we go into a

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Speaker 2: pristine bull market breaking through seventeen today to what's called

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Speaker 2: a sixteen handle on the volatility index of the equity market.

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Speaker 2: Extraordinary and really shows a resiliency here that whole fear

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Speaker 2: of missing out thing. We were very fortunate today with

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Speaker 2: a great set of conversations Kit Jukes joined from Society General.

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Speaker 2: Kit Jokes is confused.

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Speaker 3: I think the market's betting on rate cuts, but it's

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Speaker 3: also betting on resilient growth. That keeps me confused. And

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Speaker 3: I should add this is the most dollar centric, US

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Speaker 3: centric economic cycle that I can remember in ages, because

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Speaker 3: the uncertainty around the US GDP numbers, retail sales numbers,

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Speaker 3: consumer pride numbers is much bigger than the uncertainty about

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Speaker 3: the lack of growth in Europe or in Asia. So

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Speaker 3: it's all about you guys, and we're getting no information.

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Speaker 3: So when we get some we think we think the

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Speaker 3: label markets weakening, but not knowing more where I think

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Speaker 3: collectively assuming that we shouldn't be revising down GDP forecasts,

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Speaker 3: so that there's lots of productivity, there's lots of ail,

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Speaker 3: there's lots of good things. The equity market's still strong,

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Speaker 3: so US exceptionalism is still in place. That bet is there.

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Speaker 3: Today's soft CPI prints will encourage rate cuts, but they

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Speaker 3: won't change that optimism about the economy is my bet.

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Speaker 2: Kitchooks of suction and just to give you an idea, folks.

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Speaker 2: One of the most twisted interviews of the week Jeffrey

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Speaker 2: Schumacher with us from e Y Parthenon, and it was

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Speaker 2: on like, what are companies actually doing with AI? Not

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Speaker 2: me using it as a Google search alternative for you,

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Speaker 2: Good morning to all of perplexity, love it, forget about

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Speaker 2: that what a company's actually doing And with the layoffs

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Speaker 2: this week announced, are we really replacing jobs? And jeff

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Speaker 2: Schumacher was just brilliant on the actual process consultants like

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Speaker 2: e Y are using when they go out to companies

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Speaker 2: to say, here's what artificial intelligence can do. For you.

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Speaker 2: That was absolutely fascinating. Some of that wraps around the

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Speaker 2: global market. Jordan Rochester started as strong today with Mazuo.

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Speaker 2: Here Jordan Rochester on his United Kingdom.

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Speaker 4: How Trump is for j well, he doesn't have the

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Speaker 4: same trying to think of the word for it, god

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Speaker 4: like persona amongst the public.

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Speaker 1: It's not.

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Speaker 4: It's not the sort of it's religious in a way

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Speaker 4: that of Maga movement. The reform is more of a

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Speaker 4: brand new thing and it is around Farage himself, but

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Speaker 4: it is a little bit less about how great he is,

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Speaker 4: but it's more about the policies he stands for, and

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Speaker 4: so he's a little bit more sort of careful with

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Speaker 4: his words, where I do believe Trump gets away with more.

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Speaker 4: So I'll leave it there because there's so many different

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Speaker 4: things to untangle. But in terms of policy, I think

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Speaker 4: it will be harder for him to get things done

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Speaker 4: compared to Trump because he hasn't got the same I

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Speaker 4: think with Trump he had the first term to learn.

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Speaker 4: You might remember how the chaos of the first administration

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Speaker 4: of different cabinet ministers they went through, and this time around,

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Speaker 4: Trump's learned his lessons, got a stronger team around him,

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Speaker 4: Farage hasn't got that strong team around him just yet,

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Speaker 4: and there's no other name recognition amongst the people who

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Speaker 4: work for him.

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Speaker 2: Jordan Rochester there and of course we spent a lot

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Speaker 2: of time with him with Missul of Tokyo talking about

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Speaker 2: the incredible politics and markets of Japan. As we end

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Speaker 2: the week, yen weaker out near a one fifty three.

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Speaker 2: That has been a surprise. We do not yet see

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Speaker 2: a strong yen on our podcast. We're out at Apple,

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Speaker 2: We're out at Spotify and YouTube podcasts at single best

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Speaker 2: idea