Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Single best idea to
Speaker 1: get you into a Memorial Day weekend, I will be honest,
Speaker 1: you slide it on a Friday. Many people are off today.
Speaker 1: We're very fortunate we were fully staffed because the world
Speaker 1: fell apart in the vicinity of four am and then
Speaker 1: seven am. President Trump put out two extraordinary sets of
Speaker 1: tweets on Apple computer manufacturing in India, and then, of
Speaker 1: course in the European Union. All of us senate around
Speaker 1: David Weston's important conversation with a Secretary of Treasury twelve
Speaker 1: moonish today. We were so fortunate we made her luck
Speaker 1: Berry Eike Green of Berkeley scheduled in his very early
Speaker 1: West Coast morning. He is the giant of international economist
Speaker 1: Ken Rogoff mentions him in his new book, My Book
Speaker 1: of the Summer. Here is Barry Chingreen on the fragile dollar.
Speaker 2: I think the dollar has been tarnished significantly since Liberation Day.
Speaker 2: It's safe haven status is eroding more quickly than before.
Speaker 2: I've long thought that the dollar would have to share
Speaker 2: the international stage with other currencies. I didn't think that
Speaker 2: would that process would accelerate so grammatically this year I
Speaker 2: think that the markets have responded to the ninety day
Speaker 2: pause in the UK deal by thinking that the period
Speaker 2: of elevated uncertainty is over. And exactly as you said before,
Speaker 2: uncertainty and the spike in the Vicks continue. We haven't
Speaker 2: really seen that spill over into distress in financial markets,
Speaker 2: but I think that distress could be coming. I think
Speaker 2: what's happening in the cryptosphere could spill over into mainstream
Speaker 2: financial markets. There's a lot to worry about that hasn't materialized.
Speaker 1: From the University of California at Berkeley, iconic very iik Ingreen.
Speaker 1: I will try this weekend to get out a select
Speaker 1: set of his books. Exorbitant Privilege was a wonderful short
Speaker 1: treatise on the US dollar, and of course his classic
Speaker 1: book from decades ago, Golden Fetters, defined the twentieth century
Speaker 1: of gold, defining the equity market. What a joy this
Speaker 1: morning to speak to Emily Rowland of John Hancock. She
Speaker 1: really pushed against a lot of the fears, maybe the
Speaker 1: sum of all our fears, if you will, and optimistic
Speaker 1: Emily Rowland of John Hancock.
Speaker 3: Investors are really trading on feelings and not facts. This
Speaker 3: is a sentiment driven market, whether it's sell everything US,
Speaker 3: whether that's stocks, bonds, dollars. But when you look underneath
Speaker 3: the hood at the facts earnings growth most importantly to
Speaker 3: US and the US We just saw Q one earnings
Speaker 3: come in at fourteen percent. Nine percent is what analysts
Speaker 3: are penciling in for the year. You look over at Europe.
Speaker 3: Earning's growth this quarter was negative eight percent, and analysts
Speaker 3: are revising down earnings estimates to around three percent. In Europe,
Speaker 3: you look at the front, the macro backdrop, and the
Speaker 3: United States growth is holding in the city economic surprise
Speaker 3: index is actually perking up. The hard data is coming
Speaker 3: in positive. We're seeing the opposite happen in Europe as
Speaker 3: their data is coming in weaker. Growth is struggling overseas.
Speaker 3: Yet you've seen this massive capital rotation out of the
Speaker 3: US into Europe. We would fade it and use those
Speaker 3: proceeds to invest in the United States.
Speaker 1: Emily Roland with a different view there from so many
Speaker 1: of hers. She's the strategy at John Hancock really has
Speaker 1: been right the last twenty four to thirty six months
Speaker 1: about the ability to buy quality and large cap growth
Speaker 1: in America. She stays with that theme today right now
Speaker 1: in your commute across the nation. Apple Android coming on strong.
Speaker 1: Thank you for that one thing I learned this week.
Speaker 1: Shout out to PIMCO for a wonderful event earlier this week,
Speaker 1: and I learned there Serious XM Channel one one. It's
Speaker 1: older technology and people are wedded to it. They like
Speaker 1: it a lot. We thank you on Serious XM for
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