Bloomberg Surveillance 8/02/2022 Pelosi in Taiwan

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>> > > THE REALITY IS THE ECONOMIC SITUATION IS WEAKENING.
IT IS PROBABLY GOING TO WEAKEN FURTHER.
> > WE ARE STILL IN THIS RACE BETWEEN INFLATION AND PROBABLY A MILD RECESSION. > > THE FEDERAL RESERVE IS UNLIKELY TO BE TIMED TO THE EQUITY MARKET. IF WE SEE WEAK POINT IN THE LABOR MARKET, HOW WILL CERTAINLY THE FED COMMUNICATION EVOLVE? COMMENTATOR: THIS IS “” BLOOMBERG.
SECURITY.”” JONATHAN: GREAT EARLY MORNING, GREETINGS. ALONGSIDE TOM KEENE AS WELL AS LISA.
ABRAMOWICZ, I'' M JONATHAN FERRO. FUTURES DOWN THREE QUARTERS OF.
1% ON THE S&P. THE MAIN EVENT REMAINS IN TAIWAN. TOM: IT IS. WE WILL CERTAINLY REACH THE MARKETS. IN MY RIGHT, MIKE IS WITH US LATER? JONATHAN:.
IN A FEW HRS TIME. TOM: NOW IT HAS TO DO WITH NANCY.
PELOSI AND THE BACKGROUND BEING MADE IN TAIWAN. DEFINITELY MAGNIFICENT. I AM UNCERTAIN THAT THE CHINESE.
QUITE SEE IT BY DOING THIS TODAY. TOM: I WOULD SAY NOT. THERE IS A GREAT DEAL OF ANALYSIS TO BE.
HAD ABOUT WHAT IS VARIOUS, BUT WHAT IT DOES COME DOWN TO.
IS THE ABILITY TO MAKE A MISTAKE. WHEN I SPOKE TO MILITARY.
EXPERTS, SOMETHING LIKE BLOOMBERG IN.
THAT REGARD.JONATHAN: WE MAKE

A LOTS OF MISTAKES ON A.
DAILY BASIS. A CHECK OUT WE ALL EXPECT IN.
THE NEXT NUMBER OF HOURS. LISA: AND EVERYONE IS TRYING TO.
FIND OUT WHAT THE REACTION COULD POSSIBLY BE. THIS IS DANGER OFF, A RATHER SUBSTANTIAL MARKET IMPLICATION.
THAT LEAVES YOU WITH A 10 YEAR YIELD GOING RIGHT INTO THAT TO 5% AND.
PREDICTING FURTHER. JUST HOW MUCH ARE PEOPLE PROBABLY.
LOOKING PAST A FEW OF THE LONGER-TERM EFFECTS OF THE.
SHARE IN BETWEEN CHINA AND ALSO THE U.S.? A WHOLE LOT OF PEOPLE ARE TAKING A LOOK AT HOW THE FED RESPONSE TO THAT. JONATHAN: WE GOT THE HEADLINE THREAT.
HOVERING OVER THIS MARKET. YOU'' VE ALSO GOT THE DATA WHICH
,. LET ' S FACE IT, THAT'IS WHAT WE ' VE BEEN TRAINING ON
OVER THE.

LAST WEEK.LISA: THIS NEW POTENTIAL DANGER,.
TYPICALLY RISK OFF OR THIS CONCEPT THAT THERE COULD BE SOME.
GEOPOLITICAL STRESS WOULD RESULT IN AN EASING OF FED POLICY. THIS MOMENT, HOW MUCH COULD IT.
AGGRAVATE INFLATIONARY TENSIONS AS WELL AS SEVERAL OF THE INPUTS.
THAT ARE CAUSING SOME OF THE RESTRICTIONS AS WELL AS AT THE SAME.
TIME, THE DATA ISN'' T SURRENDERING SWIFTLY ADEQUATE TO WARRANT.
THE DOVISH WENT TO LOTS OF PEOPLE ARE PRICING IN.

>> > > DOWN THREE QUARTERS OF 1% ON.
THE S&P. AS LISA AIMED OUT, WE ARE.
DOWN 3 BASIS POINTS ON THE ONE DECADE. KEEP IN MIND THAT IN THE CENTER OF JUNE, WE WERE CLOSE TO 3.50,.
A BEAST TURN-AROUND ON A 10 YEAR. WE ARE UNFAVORABLE ONE QUARTER OF 1%. THE DOLLAR-YEN GETTING BACK TO 1.30. AS FIVE DAYS OF TOUGHNESS. TOM: THIS TALK ABOUT THE REAL CHANGE.
BELOW. THIS IS SEVERAL OF THE SUBTLETY HAPPENING AS INDIVIDUALS– NOT.
RECALIBRATE, BUT MAY BE RESET OFF OF ALL THE CARE THAT IS.
AVAILABLE. HE HAS EURO-DOLLAR, STILL.
THOSE, BUT HE SAYS NOW BECAUSE OF THE UNITED STATE TROUBLE, SWITCH OVER TO EURO-YEN, SEARCHING FOR STRONGER YEN,.
WEAKER EURO. JONATHAN:.
THE STORY CLEAR, DO THIS AGAINST THE JAPANESE YEN. LISA:.
IT IS FASCINATING HOW SWIFTLY THINGS ARE CHANGING. YOU WERE CLAIMING WE DO OBTAIN DATED TODAY AND ALSO I AM ACTUALLY REALLY.
EDUCATED ON THIS. THE TASK OPENINGS INFORMATION, WE SAW.
IT PEAK A PAIRS OF MONTHS AGO. 11 MILLION JOB OPENINGS OUT.
THERE, WHICH GOES BEYOND THE VARIETY OF POTENTIAL OFFERED WORKERS. JUST HOW MUCH DOES THAT COME DOWN? WHAT DOES THAT MEAN ABOUT HOW.
LIMITED THIS LABOR MARKET IS AS WELL AS HOW DOES THAT ASPECT INTO A FED.
— WE CAN ENTER WHAT JAY POWELL WILL REALLY CLAIM, BUT.
THE MARKET CAN NOT INTERPRET A SOLID LABOR MARKET AS ANYTHING.
OTHER THAN CONTINUING WITH A STRENGTHENING AND ALSO TIGHTENING.
POLICY.TODAY, NANCY PELOSI IS EXPECTED. TO SHOW UP IN TAIWAN.
WHAT IS THE CHINESE REACTION? SHE ' S THE FIRST TO VISIT'THIS REGION IN 25 YEARS A. LONGER-TERM BREACH OF THE RELATIONSHIP IN BETWEEN CHINA AND. THE UNITED STATE. HOW MUCH DO THEY DISCUSS THE. REDUCING AND ALSO FINANCIAL ISSUES OF PUSHBACK AGAINST THAT AT A. TIME WHEN YOU ARE RETURNING TO ZERO REAL YIELD ON
THE 10. YEAR? REMEMBER, THAT REAL RETURN OBTAINING POSITIVE IN DANGER ASSETS. JONATHAN: THERE IS A GREAT DEAL TO DISCUSS,. AND ALSO WE WILL CERTAINLY DO THAT WITH THE PROGRAM.
LOOKING AHEAD TO THAT INFORMATION, POTENTIALLY IN THE NEXT PAIR. OF HOURS, PELOSI TOUCHDOWN IN TAIWAN, THE HIGHEST-RANKING U.S. AUTHORITIES TO LAND THERE IN SOME 25 YEARS. I THINK IT WAS 1997, NEWT GINGRICH. THAT IS HOW FAR BACK YOU REACHED GO.TOM:. REALLY INTERESTING TO SEE

THOSE
DOMESTIC NATIONAL POLITICS, THE. REVOLUTION THAT GINGRICH LED.
BELOW IS THE ARCH-DEMOCRAT OF. BALTIMORE AND SAN FRANCISCO AFFECTING A PLAN WHICH I. WOULD SUGGEST IS USUALLY QUIET, THEY GOWN REPUBLICAN POLITICIAN SUPPORT. JONATHAN: DURING THAT EXCHANGE LAST WEEK,. THAT CONGRESS IS AN INDEPENDENT BRANCH OF FEDERAL GOVERNMENT AS WELL AS THE. SPEAKER MAKES HER OWN CHOICES.
THIS IS WHAT WE LISTENED TO FROM THE. CHINESE FOREIGN MINISTRY EARLIER
TODAY. THIRD-HIGHEST RANKING NUMBER IN THE UNITED STATE GOVERNMENT MAKES A PROVOCATIVE GO TO TO THE TAIWAN REGION, IS. CERTAINLY NOT UNOFFICIAL BEHAVIOR. WE ARE GOING TO OVERVIEW YOU WITH THE HEADINGS AS THEY. COME IN FOR THE NEXT COUPLE OF HOURS.WE ARE GOING TO OVERVIEW YOU.
WITH THE MARKETPLACE, TOO.

GOING THROUGH YOUR CALLS, AND. THERE IT WAS, BEARISH ON THE CHINESE CURRENCY. WALK ME THROUGH AS TO WHY. > > THIS IS THE ONLY FIRM–. >> AND ALSO THE STIMULUS IN THESE CONDITIONS OFTEN TENDS TO BE A WEAKER. MONEY. THE YEN IMPACT EVEN MORE EXTENSIVELY
IS. UNDER PRESSURE. THIS POINT OF VIEW, WE ALSO. EXPECT MORE WEAK POINT EVEN MORE BROADLY. JONATHAN: SOME HIGHLY SPECULATIVE. CONVERSATIONS TAKING AREA TODAY AND ALSO HAVE CHINA MIGHT. RESPOND. WE ESTABLISH FOR THIS PROGRAM THAT.
YOU HAVE TO REMAIN FOCUSED TAKING CARE OF THAT ECONOMIC CLIMATE. CAN YOU TELL United States, HOW BAD ARE POINTS TODAY IN THE CHINESE. ECONOMY? > > NUMBERS ARE DEFINITELY MEANS.
LISTED BELOW WHAT >> WE’ ' VE SEEN.
EVEN WHEN THE REST OF THE GLOBE. WAS RECOVERING OPENING UP, THE CHINESE ECONOMIC CLIMATE WAS WEAKENING. THERE ARE ALSO TROUBLES IN THE STATE MARKET WHERE INVESTMENT. HAS BEEN KEY IN THE PAST, AND TRADE TENSIONS IN THE WEST FOR AN ECONOMY LIKE CHINA. THAT WE ECONOMIC OUTLOOK.BUT I ASSUME ONE OF THE MOST VITAL.

IS THAT UNTIL CHINA HAS A MEANS
OUT, IT IS HARD TO COME TO BE A. COMPEL FOR FINANCIAL DEVELOPMENT.
LISA: IF THERE IS ESCALATING ISSUE.
BETWEEN THE U.S. AS WELL AS CHINA, ESCALATING TENSIONS.
AFTER THIS SEE TO TAIWAN BY NANCY PELOSI, THE LENGTH OF TIME CAN THE.
BUCK CONTINUE TO BE THE HAVEN CURRENCY IF IT IS ALSO THE.
EPICENTER OF THIS POTENTIAL OF RATCHETING UP IN TENSIONS? >> > > DEFINITELY IT WILL CERTAINLY SEE DANGER.
OFF BECAUSE THIS KIND OF GEOPOLITICAL RISK. BUT THE MARKET ALSO BELIEVES.
THAT THIS IS LESS CAUCUS– LESS HAWKISH, EVEN MORE DOVISH. WITH THE MARKET EXPECTING IT.
DOVISH BARGAIN BY THE FED, THE FED IS FOCUSING ON RISING COST OF LIVING. RISING COST OF LIVING IS STILL RISING. THE LABOR MARKET IS STILL VERY.
SOLID. WE REQUIREMENT THE U.S. ECONOMIC CLIMATE TO WEAKEN AND ALSO WE NEED RISING COST OF LIVING TO BE WELL ON ITS MEANS.
DOWN. MARKET PRICING CAPS BY THE FED.
NEXT YEAR MAKE DEFINITELY NO FEELING. JONATHAN: I'' M GOING TO ADD YOUR NAME TO.'THE LONG LISTING OF LABELS I ' VE GOT THAT ENTIRELY DISAGREE WITH. WHAT TOOK PLACE RECENTLY. YOU ' VE GOT SOME THREAT HOSTILITY. COME WITH WITH LOWER YIELDS, NOT HIGHER YIELDS. THAT IS A REPAIRED– THAT IS A BIG CHANGE. THAT IS A MAJOR CHANGE FROM FIVE DAYS AGO.TOM: IS A FIVE-DAY RALLY, BUT I.
WOULD CONSIDER THAT YIELD SPACE. TO GET UP THIS MORNING AFTER.
THE THREE HRS SLEEP AND ALSO DISCOVERING THAT THE TEN YEARS REAL.
RETURN ALMOST MOSTED LIKELY TO NO AND DOWNSIDE, IT GOT THE.02. A GREAT DEAL OF LITTLE MATTERS HAPPENING. TOM: PRECISELY RIGHT. JONATHAN:.
WHAT IS IT CURRENTLY, 4 OR 5 BASIS POINTS? LISA:.
IT IS JUST ABOUT POSITIVE. THE TRAJECTORY OF HOW QUICKLY.
IT HAS ACTUALLY COLLAPSED, IT IS SIMPLY DRAMATIC. THE REASON THAT THIS YIELD CURVE IS INTERESTING IS BECAUSE IT IS.
THE ONE THAT THE FED HAS ACTUALLY INDICATED TO SAY DON'' T CHECK OUT. THE SPREAD.
IT IS ONE OF THE MOST INVERTED SINCE. 2000, BUT WE ARE REALLY LOOKING AT THE
THREE-MONTH MONTH. 10-YEAR. SO'THEY CONTAINER ' T IGNORE THAT. ANY LONGER SINCE RISING COST OF LIVING PRESSURES ARE STILL THERE. TOM: I JUST DID WHAT IS CALLED A.
FITTED REQUIREMENT DISCREPANCY RESEARCH, AS WELL AS WE HAVE GONE FROM.
AND ALSO 3.6 CONVENTIONAL DISCREPANCIES ON JUNE 13 TO ADVERSE 2 FACTOR.
— WHATEVER.IT IS A SWING IN THE
10 YEAR. RETURN.
JONATHAN: IT IS PREMATURELY FOR THAT KIND.
OF STUFF, TOM. TOM: IS NEVER PREMATURELY. THE NATIONAL SECURITY.
SPOKESPERSON SAID THIS THE OTHER DAY. PUT SIMPLY, THERE IS NO REASON FOR BEIJING TO TURN A CAPACITY.
— RIGHT INTO A DILEMMA CONFLICT. ALLOW'' S HAVE A CONVERSATION UP. NEXT. THIS EQUITY MARKET, RIPPER AND.
RALLY OVER THE LAST FEW WEEKS. THIS MORNING, TURNING NEGATIVE. GREETINGS. MAINTAINING YOU UP-TO-DATE WITH.
INFORMATION FROM ALL OVER THE WORLD, U.S. RESIDENCE AUDIO SPEAKER NANCY PELOSI IS.
ANTICIPATED TO LAND IN TAIWAN IN A FEW HOURS, DEFYING CHINESE.
RISKS OF ARMED FORCE ACTION. SHE WOULD BE THE FIRST RANKING.
AMERICAN POLITICAL LEADER TO BROWSE THROUGH THERE IN 25 YEARS. CHINA HAS VOWED UNSPECIFIED.
ARMED FORCE REACTION TO A PELOSI GO TO.– ELIMINATED AMONG THE LEADERS OF.
THE 9/11 STRIKES. AS STATED BY OFFICIALS, THE.
ATTACK HAD BEEN PLANNED FOR WEEKS. THE U.S. IS SENDING UKRAINE ANOTHER PERSON $550 MILLION. IT CONSISTS OF EVEN MORE AMMUNITION FOR AN ADVANCED ROCKET SYSTEM THAT.
WAS SENT EARLIER ALONG WITH 75,000 SHELLS.AND IN THE U.K., ADMINISTRATION. AND INEFFECTIVENESS
. ISSUE COMES TO BE HEAD OF STATE,. SHE STATES SHE CONTAINER SAY POTENTIALLY BILLIONS OF POUNDS.
PER YEAR BY LOWERING VACATION ALLOWANCES. THIS IS BLOOMBERG. >> > > A POSSIBLE BROWSE THROUGH BY THE. SPEAKER OF THE RESIDENCE AS SUMS OF THE PRETEXTS TO RISE.
TENSIONS HIGHER THAN THEY ALREADY ARE. IN CURRENT DAYS AND ALSO WEEKS, IT IS.
THE CHINESE SIDE THAT HAS SECONDHAND THEIR RHETORIC, THE ONES THAT.
ARE ESCALATING THE STRESS. JONATHAN:.
JOHN KIRBY, THE NATIONAL SAFETY COUNCIL SPOKESPERSON. EXCELLENT MORNING WITH TOM KEENE AND ALSO LISA ABRAMOWICZ, I'' M JONATHAN. FERRO. IT LOOKS A SOMETHING. LIKE THIS, FUTURES DOWN VIRTUALLY 1%. THE NASDAQ, DOWN BY EVEN MORE THAN 1%. THIS IS JUST SUCH A MASSIVE.
TURN-AROUND FROM WHERE WE WERE IN JUNE WHEN WE WERE PRESSING.
3.50 ON THE TEN YEARS, MUCH LOWER SINCE AFTER THAT. 92.70 ON WTI. TOM:.
ALMOST 6 COMMON DISCREPANCIES ON THE ONE DECADE YIELD. I THINK THE EXPRESSION IS DRY.
NORMA'' S.JONATHAN: JOY NORMA'' S.– GINORMOUS. TOM:. WE WILL CERTAINLY SPEAK ABOUT THE APPLE PURCHASE THE OTHER DAY, THAT WAS.
GINORMOUS AS WELL. JOE MATHIEU, DAVID SACHS DOES A.
PHENOMENAL SUMMARY AS WE STAGGER WITH CHINA AND TAIWAN.
OVER 30 YEARS. AND HE CLAIMS THERE HAS BEEN A.
RHETORICAL CHANGE IN WASHINGTON STARTING WITH PRESIDENT TRUMP. IT IS NOT A BONDAGE, BUT HE CHECKS OUT IT WITH POMPEO AND.
TRUMP. HIS BIDEN AND ALSO AUDIO SPEAKER PELOSI.
SIMPLY FOLLOWING ON FROM THE FUNCTION THAT TRUMP AS WELL AS POMPEO LAID?
>> > > THEY PROBABLY DON'' T LIKE THAT WORDING BUT IT IS.
ESSENTIALLY THE REALITY. THIS IS LARGELY THE SAME.
PARTNERSHIP BELOW. WHAT PURPOSEFUL LANGUAGE COMING.
FROM THE WHITE HOUSE YESTERDAY.A GREAT DEAL VARIOUS THAN WHAT WE. LEARNT THROUGH JOE BIDEN 2 WEEKS EARLIER. THAT CALLER OPENS WITH THOSE REMARKS. THE PRESIDENT CLAIMED THE MILITARY DOESN ' T THINK IT IS An EXCELLENT SUGGESTION. NOW. IF HE HADN ' T STATED THAT, THIS'. WOULD BE A GREAT
CONVERSATION. EVERY PERSON IS LOOKING BACK TO 1997 AS WELL AS NEWT GINGRICH. 25 YEARS BECAUSE A SPEAKER CONCERNING HOME TOUCHED DOWN IN TAIWAN. BUT BEIJING IS LOOKING AT ' 91 WHEN THE BEIJING POLICE WENT AFTER. 'NANCY PELOSI AND A FEW OTHER LEGISLATORS
OUT OF TIANANMEN. SQUARE WHEN SHE SPREAD OUT A PRO-DEMOCRACY BANNER. THERE ARE QUESTIONS REGARDING WHETHER SHE WILL CERTAINLY MAKE A. STATEMENT SIMILAR TO THIS OR IF THIS IS GOING TO BE SOMETHING IN WHICH. WE SEE PICTURES HOURS AFTER THE SEE. TOM: COMPLETELY UNFAIR, BUT IT IS. UNFAIR TUESDAY, SO LET ' S GO. HEAD OF STATE XI HAS SAID HE IS.
SEEKING A FANTASTIC RENEWAL BY 2049. THAT IS SOMETHING THAT WAS REALLY SHARPENED AT THE COUNCIL. DO WE HAVE A PLAN 2049? > > WHEN IT COME TO CHINA? I PUT ON ' T KNOW IF >> THAT IS REAL. WE DON'' T EVEN RECOGNIZE WHAT WE ARE'. GOING TO PERFORM IN THE TOLLS– WITH ITERIS FOR CHINA NEXT WEEK. THIS IS SUCH A FAST EVOLVING CONNECTION THAT I'' M NOT EXACTLY SURE. THE WHITE HOUSE WOULD HAVE A DIRECT RESPONSE ON THAT PARTICULAR. THERE'' S A GREAT DEAL OF PLANNING THAT GOES BEHIND ANY GEOPOLITICAL.
ISSUE, CERTAINLY THE SECONDLY LARGEST ECONOMIC SITUATION IN THE WORLD. BUT TO VISUALIZE WHERE WE ARE GOING TO BE AFTER THAT, I AM NOT SURE.
IF THERE IS AN ANSWER.LISA: LATE JULY, JOE BIDEN SAID THIS. ARMED FORCE THINKS IT IS NOT A GOOD CONCEPT FOR NANCY PELOSI TO.
MOST LIKELY TO TAIWAN AS WELL AS THAT REALLY IS THE FACTOR WHY WE ARE ALL.
TALKING CONCERNING THIS. HOW MUCH IS IT JOE BIDEN'' S. UNWILLINGNESS TO VALIDATE THIS PUBLICLY AS WELL AS JUST HOW MUCH IS IT A.
RHETORIC MODIFICATION FROM CHINA HARDENING STANCE? THE DEVELOP AIR REQUIRE AND ALSO THE POTENTIAL AIR RAIDS THEY HAVE.
BEEN DOING IN THE REGION. HOW MUCH IS THAT GOING TO.
CHANGE? >> > > IT IS HARD TO TELL. WE HAD A GREAT DEAL OF FIRE DRILLS 2 EVENINGS EARLIER AND ALSO IT IS An INQUIRY.
OF WHAT EXACTLY CHINA IS GOING TO DO. WILL THERE ACTUALLY BE A.
CONCERTED ACTION? THEY SEEM TO BE TRYING TO.
PERSUADE THE WHITE HOME TO TALK HER OUT OF IT. THIS WOULD BE A VERY VARIOUS STORY THIS MORNING. IT SEEMS CLEAR THAT SHE HAS REALLY NO POSSIBILITY BUT TO GO.
WITH WITH THE TRIP. IS THIS THE CONFLICT NOW,.
OR WILL THERE BE SOMETHING EVEN DAYS LATER? IF JOHN KIRBY DISCUSSED THE OPPORTUNITY OF A MISSILE TEST,.
MAYBE THERE IS A LARGE-SCALE INCURSION UPON TAIWAN AIRSPACE.
OR AT LEAST, GETTING CLOSER TO TRAVELING OVER THE ISLAND. EVERY ONE OF THOSE WOULD BE VERY STRONG MOVES IF WE SOLVE THEM IN THE.
NEXT NUMBER OF DAYS.WE HAVE TO REMEMBER, JOE BIDEN. SAYS WE CONTAINER ' T TELL
NANCY PELOSI'WHAT TO ACCOMPLISH. WE ARE GOING TO BE FIGURING THIS OUT MUCH LIKE EVERYONE. ELSE, BUT SHE IS FLYING IN AIR REQUIRE AIRCRAFT AS WELL AS WILL CERTAINLY LIKELY. HAVE ESCORTS FROM THE PENTAGON, GENERAL MILLEY THAT STATED THEY. WILL CERTAINLY GET HER IN AND OUT SECURELY, WHATEVER.
LISA:. THIS SPECIFIC PRESIDENT HAS MADE A REAL BIG FACTOR IN TRYING. TO COALESCES ALLIES AROUND SOME TYPE OF CENTER, TO REUNIFY NATO. JUST HOW MUCH SUPPORT AS THE UNITED STATES HAVE FROM ITS ALLIES IN. THIS MOVE OF NANCY PELOSI THAT MAYBE HAS NOT BEEN ENDORSED,.
BUT CERTAINLY HAS BEEN SUPPORTED BY THE COUNTRY. > > AND NATURALLY, THE AREA IS. A GREATER QUESTION RIGHT HERE. >> IF WE GET ON THE PRICES OF.
PRODUCING A NATO FOR SOUTHEAST ASIA, THIS IS WHAT IS GOING TO. PROMPT IT.I ASKED MARK ESPER YESTERDAY IF.
THIS WOULD AMOUNT AN SHORT ARTICLE 5 INFRACTION FOR
NATO. IF CHINA, ACTUALLY, DID GOING TO TAIWAN, AND ALSO IT IS NOT AT THAT. DEGREE YET, BUT IT IS GETTING CLOSE. JONATHAN:.
WE WILL CATCH UP IN THE NEXT HR ON THE ESSENTIAL EVENTS. SAID TO TAKE LOCATION IN THE NEXT NUMBER OF HOURS
. THE WHITE HOME AS BEING RATHER CONSTANT ABOUT THIS. THEY WILL CERTAINLY SAY WE DON ' T SUPPORT TAIWAN FREEDOM BUT THEY DO.'NOT SAY THEY OPPOSE IT. AND THEY ARE
NOT COMING OUT AS. SAYING THEY SUPPORT SPEAKER PELOSI ' S JOURNEY BUT THEY ARE LIKEWISE. NOT EXPRESSION WE OPPOSE IT.
A PRETTY CONSTANT START ON A. VARIETY OF ISSUES.
TOM: IT SHIFTED A PAIR YEARS BACK. THIS IS THINGS THAT WAS UNSPOKEN FOR MANY YEARS AND ALSO YEARS AS WELL AS IT. SHIFTED CERTAINLY WITH THE CATALYST PRESIDENT TRUMP AND. THE ASSISTANT OF STATE POMPEO, AND ALSO IT IS ONLY IN A BIDEN. WAY, SO BELOW WE ARE, AND ALSO WHAT WE ' VE GOT IS ONE AIRCRAFT. CARRIER OFF TAIWAN SOMEPLACE, I BELIEVE
THE PHILIPPINES.JONATHAN: I THINK IT ' S A LITTLE TOO. SIMPLISTIC TO CONDEMN THE PREVIOUS ADMINISTRATION. TOM:. ABSOLUTELY.
JONATHAN: BACK IN SPRING, WE HEARD SOME. GRIEVANCES, BUT NOTHING SUCH AS THIS. TOM:. I WOULD SAY IN THE LAST 4 OR FIVE YEARS– AS WELL AS ONCE MORE, I. STATED THE ECONOMIC CLIMATE WHERE THEY ARE ROUNDING UP THE THIRD. CHANGE, THERE IS A THIRD REVOLUTION IN CHINA AND ALSO THAT. GENERATES THE ADJUSTMENT
IN UNSUPPORTED CLAIMS THAT WE SAW FROM MR. TRUMP. JONATHAN: THERE ARE PROBLEMS BEHIND THE. WEAKNESS IN THE ECONOMIC CLIMATE, THE INSTABILITY, THE POSSIBILITY. SOCIAL DISCONTENT AROUND THE PROBLEMS.LISA:
. AND ALSO JUST HOW MUCH WAS POSTPONED BY THE PANDEMIC? IT IS NOT JUST A MODIFICATION IN RHETORIC BUT A BUILD-UP IN.

ARMY TASK BY CHINA IN TAIWAN. JONATHAN:. FADING ECONOMIC DOWNTURN DANGER, THAT IS THE DRAW FROM GOLDMAN SACHS.
TODAY. YOU ARE SEEKING ECONOMIC DOWNTURN.
DANGER, TRY TO FIND THE DATA. LATER, WORK OPENINGS IN AMERICA.
COULD COME DOWN AND ALSO POSSIBLY THAT ' S WHAT THE FED INTEND TO. SEE. WE DISCUSS TASK OPENINGS IN AMERICA ALONG WITH FED SPEAK. THE NASDAQ'DOWN BY 1.4 %.
HANGING OVER THIS MARKET,. HEADING DANGER IN TAIWAN. A LITTLE BIT OF WEAK POINT,. RISK-OFF, DANGER AVERSION.
YIELDS REDUCE ON THE 10-YEAR. CONSIDER IN WHICH WE ' VE BEEN. NEAR TO 250 IN JUNE, THEN ALL. THE WAY BACK TO 25374. THE SPREAD BETWEEN TWOS AND. TENS IS INVERTED. UPSIDE DOWN BY MOST
CONSIDERING THAT THE. EARLY 2000 ' S.
IT HAS BEEN A VERY LONG TIME SINCE. WE ' VE SEEN THIS DEGREE. LISA: AND ALSO ONLY OBTAINING MORE INVERTED.'STATING THIS DOES NOT HISTORICALLY TRACK. IT IS DEEPENING AND ALSO THE INVERSION BEFORE A SUSTAINED. RALLY THAT IS CONTRIBUTING TO JITTERS. INADEQUATE IN THE
MARKET. TOM:. THIS IS– JONATHAN: THIS IS 5 DATES OF EELS. DECREASING AS WELL AS 5 DAYS OF JAPANESE YEN STRENGTH.
GIVE SOME LIFE TO THE N-STRENGTH STORY. IT IS WORKING IN THE METHOD IT HASN ' T FUNCTIONED ALL YEAR. WE BOIL DOWN FROM THE CENTER OF JULY TO 13087 TODAY. STILL DOES NOT LIKE THE EURO, SIMPLY THINK MAY BE PLAYING THE. YEN INSTEAD.EURO, 1.3395. TOM: THIS IS INTEREST-RATE RATE. CHARACTERISTICS AS WELL AS THE CENTRAL-BANK CATCHING UP WITH CHAIRMAN. POWELL AND CHAIRMAN POWELL CATCHING
UP WITH HIMSELF. WHAT WE ARE DISCUSSING IS A NOVEMBER PRICE STEP. THE RATE OF INTEREST DYNAMICS IS WHAT IS DRIVING THE MODIFICATION. RIGHT NOW. JONATHAN: WE HAVE A LONG LIST OF INDIVIDUALS. PRESSING BACK VERSUS THE DOVISH ANALYSIS OF CHAIRMAN. POWELL LAST WEEK.
TOM: THE INCOMES CHARACTERISTIC OF THE. DAY, CATERPILLAR OPEN WITH A VERY GREAT BEAT. CATERPILLAR POINTS OUT POSITIVE COST UNDERSTANDING AND ALSO HIGHER. SALES VOLUME.THAT IS A BEST ENTREE TO THE. CHIEF INVESTMENT STRATEGIST FROM CHARLES SCHWAB THAT DOES.
ADHERE TO EARNINGS. I AM FASCINATED BY WHAT I AM. OBSERVING, WHICH IS THE MAC ROASTERY, THE FED STORY, THE
. BIG PICTURE– THE MACRO TALE, THE FED TALE, THE BIG IMAGE.
TALE. PROFITS AND PROFITS, DO THEY. ISSUE ANYMORE? > > THEY DO. United States INCLUDED THOUGHT THAT WE.
MAY SEE A LITTLE >> EVEN MORE WEAK POINT BEGINNING TO CREEP IN.
YOU HAVE SEEN IT MORE IN THE OVERVIEWS IN THE FORWARD-LOOKING. DISCOURSE ON THE PROFITS SIDE AND THE REVENUE MARGIN SIDE, BUT. IT HASN ' T SHOWN UP ITSELF IN STIPULATIONS OF MATTERS LIKE THE BEAT. PRICE AND DETERIORATION IN INCOMES FOR THE SECOND QUARTER. I STILL THINK THAT IS A SECOND HALF OF THE YEAR TALE GIVEN. COMMENTARY.IF YOU CONSIDER AHEAD PROFIT.
MARGIN QUOTES
, DESPITE THE FACT THAT THEY AREN ' T AS ROBUST AS INCOMES QUOTES, THOSE HAS. SURRENDERED. I ASSUME HE GETS PUSHED LATER IN.
THE YEAR, THE WEAR AND TEAR I ASSUME IS UPCOMING.
TOM:. ARE THEY ADJUSTING LIKE WE ARE ALL GETTING USED TO THE DAY-TO-DAY. MACRO EVALUATION WE ARE DOING? LIZ ANN:.
IT DEPENDS ON IF YOU GET ON THE SOLUTIONS SIDE OF THE ECONOMY,. THE GREAT SIDE, OR ARE YOU A DIRECT PLAY INTO THE.
STAY-AT-HOME SETTING? I THINK IT'' S NOT A STRETCH TO. SAY THAT THAT IS A BUBBLE THAT IS IN THE PROCEDURES OF BURSTING.
NOW. I ASSUME WHAT IS UNIQUE ABOUT.
THIS ENVIRONMENT IS THAT COMMONLY WE SPEAK ABOUT THE CONSUMER SIDE.
OF THE ECONOMY, THE INVESTMENT SIDE OF THE ECONOMY AS THE.
PERTINENT SIDE. NOW IT IS THE SILVER LINING VERSUS.
THE SERVICE SIDE.EVEN WITHIN GOODS THERE IS THE.
PANDEMIC RECIPIENT VERSUS OTHER AREAS. I ASSUME ANYTHING TIED TO REAL ESTATE WILL BE INCREASINGLY.
ESSENTIAL TO VIEW GIVEN THE WEAKNESS IN REAL ESTATE AND ALSO THE.
FEEDER INTO THE ECONOMIC CLIMATE. LISA: THE PUSHBACK IS PHRASE THAT YOU.
ARE BEGINNING TO SEE INFLATION COOL DOWN AND THERE ARE A GREAT DEAL OF.
AREAS WHERE IT GETS ON THE DECLINE, PARTICULARLY IN THE.
ENERGY SECTOR, BUT ALSO ON THE MARGINS, HOUSING RATES, AND.
EVEN LEASE. WHAT IS YOUR PUSHBACK TO THE.
IDEA THAT THAT WILL CERTAINLY OFFER SUFFICIENT OF A REASON TO THE FEDERAL FOR.
THIS DOVISH HAVE IT THAT A WHOLE LOT OF PEOPLE ARE PURCHASING INTO? LIZ ANN:.
I PUT ON'' T HAVE ANY PUSHBACK ON THE LEADING INDICATORS OF.
INFLATION, TO YOUR FACTOR. YOU HAVE SEEN IT IN DISTRIBUTOR.
DELIVERIES, DILEMMAS PAY. MY PUT OUT A GRAPH TODAY ON THE.
VARIETY OF COMMODITIES GOING UP IN RATE VERSUS DOWN IN RATE.
AND ALSO THAT IS CONVERGING IN A MANNER THAT RECOMMENDS AN IMPROVING.
INFLATION SETTING. I THINK WHAT COULD BE MISSED,.
AND ALSO I STRESS MAYBE SINCE I'' M NOT IN THE HEADS OF THE. FED, BUT GIVEN THEIR FOCUS ON WANTING TO SEE A SERIES OF.
LOWER READINGS ON RISING COST OF LIVING, I BELIEVE THEY DISCOVERED SEVERAL OF THE.
LESSONS OF THE FITS AND ALSO BEGINS THAT CAME BEFORE WHEN VOELKER.
REALLY HAD TO GET AGGRESSIVE.I THINK THEY WISH TO
BE REALLY. CAUTIOUS ABOUT PIVOTING AHEAD OF TIME. I DO STILL THINK THERE WILL MOST LIKELY BE A RELATIVELY NARROW. HOME WINDOW BETWEEN THE FINAL RATE
WALK, WHENEVER THAT IS, IN THE. FIRST PRICE CUT, BUT IT MAY NOT BE AS DISTINGUISHED AS WHAT THIS. RALLY WAS RATHER ON THE BASIS OF
. LISA: JUST HOW MUCH CONVICTION DO YOU. HAVE? ARE YOU PROACTIVELY RAIDING THE RALLY WE ' VE SEEN SO. FAR IN EQUITIES, OR SIMPLY'TAKING A TIME OUT AND ALSO WAITING AND SEEING? LIZ ANN: I THINK WHAT WE HAVE BEEN. INFORMING OUR INVESTORS IS THAT THE RALLY WE ' VE SEEN DOWN THE. QUALITY'RANGE, THAT IS PROBABLY A COMPONENT OF THE. RALLY YOU DESIRED TO FADE.THERE IS
SOME IMPROVING, YOU.

HAVE ANEMIC SUPPLIES DIPPING INTO NEW HIGHS, BUT YOU DO HAVE A. NEW BREATH, NOT THE NEW BRETT ATMOSPHERE YOU WANT TO. SEE. I BELIEVE IS A BIFURCATION. POSSIBLY YOU CAN INFUSE THIS.
ON THE HIGH QUALITY END OF THE RANGE, BUT I WOULD LEAN OUT.
OF IT DOWN THE QUALITY SPECTRUM. I PUT ON'' T THINK THIS IS AN.
SETTING WHERE THE SCRAP SUPPLIES WILL MOVE HIGHER. TOM: I DON'' T WANT TO GET YOU
IN. TROUBLE, BUT LET'' S DO IT. WHY NOT? ARE YOU SUGGESTING THAT A VANILLA INDEX FUND IS NOT THE.
MEANS TO GO, A PROXY FOR THE TYPICAL IN FORCE 500, A PROXY.
FOR THE DOW JONES INDUSTRIAL AVERAGE, AND YOU NEED TO GET.
EVEN MORE INDUSTRY CERTAIN TOWARDS SOLUTION, TOWARDS TOP QUALITY? LIZ ANN: WE HAVE ALWAYS CLAIMED THAT A MIX.
OF PASSIVE AND ACTIVE MAKES FEELING, AND ALSO LIKEWISE IT DEPENDS ON.
YOU AS AN CAPITALIST, WHAT YOUR GOALS ARE. NEVERTHELESS, FOR THOSE THAT ARE MORE STOCK-PICKING ORIENTED AND NEEDS.
AN ACTIVE APPROACH, WE HAVE BEEN LEANING FAR FROM.
SECTOR-BASED DECISIONS AND ALSO LEANING MORE RIGHT INTO FACTOR-BASED.
DECISIONS.I THINK INVESTING
BASED ON. CHARACTERISTICS, NOT SETTING BLINDERS ON IN REQUISITES OF WHERE. YOU SEARCH FOR THOSE FEATURES, I BELIEVE THAT.
THAT HAS BEEN THE MEANS TO GO IT WILL CERTAINLY CONTINUE TO BE THE MEANS TO.
GO.YOU CAN TAKE A LOOK AT A QUALITY WRAPAROUND VARIABLE LIKE HIGH
RETURN ON EQUITIES, STRONG ANNUAL REPORT, POSITIVE
PROFITS ALTERATIONS, AND ALSO I BELIEVE THAT IS THE MEANS TO STRATEGY
SPENDING AS AN ACTIVE CAPITALIST VERSUS TRYING TO MAKE A MARKET
CALL OR 2. TOM: GIVE ME A VARIABLE THAT ISSUES. TOP QUALITY ISSUES, BUT IS THE FACTOR JUST AN ABILITY TO
HOLD MARGINS? LIZ ANN: LIKE I CLAIMED, IT IS THE
CONVENTIONAL HIGH QUALITY ASPECTS LIKE CASH FLOW YIELDS, REQUISITES OF
STRONG ANNUAL REPORT, HIGH MONEY ON THE BALANCE SHEET, LOW FINANCIAL OBLIGATION
ON THE BALANCE SHEET.YOU OBTAIN A HYBRID
GROWTH WORTH CONSIDER MATTERS LIKE POSITIVE REVENUES MODIFICATIONS BECAUSE IF THEY ARE GOING UP THAT INDICATES THAT THE AHEAD PE IS MOVING DOWN. LOWER VOLATILITY, I BELIEVE THAT
THOSE BE THE KINDS OF FACTORS THAT HAVE BEEN EVEN MORE REGULAR THAN WHAT YOU ARE SEEING AT THE FACILITY DEGREE.
I ASSUME, AT THE VERY LEAST IN THE NEAR TERM, THAT WILL CONTINUE. LISA: I WOULD LOVE YOUR RESPONSE TO WHAT IS GOING ON WITH TAIWAN, THE TENSION BETWEEN CHINA AND THE U.S., THE KNEE-JERK FEEDBACK FROM MARKETS HAS BEEN THREAT OFF, BUT VERY MUCH LEANING RIGHT INTO LONGER-TERM TREASURIES.
HOW MUCH DO YOU COUNT ON THAT? HOW MUCH WOULD YOU SEE THE 10-YEAR GOING TO 2% THE WAY THE FINANCIAL INSTITUTION OF AMERICA DOES IN THE NEXT SIX TO ONE YEAR? LIZ ANN: YOU KNOW MY COWORKER IN FRANK KATHY JONES SO I WON ' T ACTION RIGHT INTO HER GLOBE AND MAKE ANY FORECAST OF'IN WHICH THE 10 YEAR IS GOING, BUT WE HAVE BEEN PROJECTING VACATING THE DURATION SPECTRUM. CERTAINLY WHEN WE WERE A. PERCENT OR TWO HIGHER IN
THE 10-YEAR YIELD. I BELIEVE THAT IS PARTLY AND ALSO HAVE FUN WITH THE GUARDS TO TAIWAN. I BELIEVE THAT YOU HAD A GUEST ON PRE-SURVEILLANCE TALKING ABOUT. THE POTENTIAL FINANCIAL RETALIATION VERSUS POSSIBLY TECH.
FIRMS IN CALIFORNIA.THAT IS NOT SOMETHING THAT WE. WILL CERTAINLY KNOW IMMINENTLY, BUT THAT IS ANOTHER THING TO KEEP

AN EYE. ON. IT IS NOT JUST DOES CHINA DO. SOMETHING MILITARILY, BUT DO THEY TRY TO DO SOMETHING.
ECONOMICALLY? JONATHAN: IT IS GREAT TO CATCH UP. TOM:. DID SHE SAY THAT SHE ENJOYED PRE-SURVEILLANCE? I BELIEVED SHE STARTED HER MORNING WITH United States. JONATHAN: SHE MUST GET UP VERY VERY EARLY TO. SEE PRE-SURVEILLANCE. THAT IS An ADVANTAGE. RIGHT HERE ARE SOME OF THE NUMBERS, PROFITS SECONDLY QUARTER 2022, 14. POINT TWO 7 BILLION U.S. PERIOD PERIOD UP FROM THE. PREVIOUS LAST YEAR.THE SECONDLY QUARTER WAS$ 12.889. BILLION. WE HAVE SEEN THIS MANY TIMES.
AND ALSO PROFITS REPORTS THIS QUARTER. THE INCREASE BECAUSE OF FAITHFUL RATE REALIZATION, PARTLY. OFFSET BY UNFAVORABLE CURRENCY IMPACTS PRIMARILY RELATED TO. THE EURO, THE AUSTRALIAN BUCK COME AND ALSO THE JAPANESE YEN.
TOM: I SAY 4 %IS THE GOING NUMBER. CATERPILLAR WITH A DRAWDOWN OF 20 %BACK TO THE MIDDLE OF LAST. YEAR. 4% APPEARS TO BE THE GOING PRICE. I THINK I OBSERVED APPLE COMPUTER, MY MIND SAYS SIX. CENTS ON THE DOLLAR.IT IS An ACTUAL PROBLEM.
WHAT I WOULD SUGGEST RESEMBLES FEDEX, AMONG THOSE WORLDWIDE AND. DOMESTIC MONITORS OF OUR CONTINUED ABILITY TO MAKE.

PROFIT. JONATHAN: AND DELIVERING DEVELOPMENT. LISA: JUST HOW MUCH IS THAT GROWTH GOING. TO REMAIN TO BE CENTERED IN THE UNITED STATES? HOW MUCH IS THIS POSSIBILITY FX HEADWIND AN CONCERN WITH THE. STRENGTH OF THE DOLLAR OR THE WEAK POINTS OF THE ECONOMIC SITUATIONS AND ALSO. OTHER AREAS LOVED ONE TO THE UNITED STATE? YOU WON ' T OBTAIN THE VERY SAME TASK POSSIBLY OUT OF EUROPE IN STIPULATIONS. OF THE MAGNITUDE YOU WOULD IN THE U.S.JONATHAN:. DO YOU REMEMBER THE TALK OF A REOPENING AND SYNCHRONIZED. WORLDWIDE GROWTH STORY AND CURRENTLY IT FEELS LIKE A SYNCHRONIZE. DOWNTURN REALLY SWIFTLY? ON THE NASDAQ WE ARE DOWN 1.4%.
FROM NEW YORK CITY CITY, EVEN MORE AHEAD ON SPEAKER PELOSI ' S. POTENTIAL GO TO TO TAIWAN. ♪ > > RISKS BY CHINA DON ' T SEEM. TO BE DETERRING HOME SPEAKER NANCY PELOSI. SHE IS EXPECTED TO COME TO BE THE HIGHEST RANKING UNITED STATE OFFICIAL AND >> 25 YEARS TO GO TO TAIWAN.
CHINA HAS VOWED AN UNSPECIFIED ARMED FORCE RESPONSE.THE UNITED STATE CALLS HIM A LONG TIME TERRORIST LEADER THAT ASSISTED TO STRATEGY THE. 9/11 ATTACKS. HEAD OF STATE BIDEN STATES THAT THE LEADER OF AL QAEDA HAS BEEN. KILLED IN AFGHANISTAN BY A UNITED STATE DRONE STRIKE. IN A STATEMENT AT THE WHITE RESIDENCE THE PRESIDENT STATED. “JUSTICE HAS ACTUALLY BEEN DELIVERED. HEAD OF STATE– REPUBLICAN POLITICIANS STRATEGY. TO UTILIZE A RULE AGAINST THE ENVIRONMENT OFFER TO TRIM. THE BILLION DOLLAR EXPENSE TO RESTRICTION THE CAPACITY TO PASS. LEGISLATION WITH A
“EASY BULK. MERKLEY IS ITS REVENUE FORECAST THE
SECONDLY TIME THIS YEAR. DISCERNMENT ON TRADE COURSES HAVE ACTUALLY BOOSTED RATES CREATING AN. EXTRAORDINARY MARKET.ABOUT 1/6 OF THE WORLD ' S.
CONTAINER TRADE. BACKED BY THE COSTS AND ALSO MELINDA. GATES FOUNDATION,$ 50 BILLION AND ALSO BACKING FOR A PROPOSITION THAT. WOULD HELP AFRICAN NATIONS REENTER FUNDING MARKETS AND ALSO
. SAFEGUARD AGAINST FUTURE DEFAULTS. IT WAS LAUNCHED LAST'MONTH. INTERNATIONAL NEWS 24 HR A DAY ON.
THE BLOOMBERG QUICKTAKE POWER BY GREATER THAN 2700 REPORTERS.
AND ANALYSTS IN MORE THAN 120 NATIONS. THIS IS BLOOMBERG.
♪ PRES. BIDEN:. CONSIDERING THAT THE UNITED STATES DELIVER JUSTICE TO CONTAINER LADEN AYMAN. AL-ZAWAHIRI HAS BEEN THE LEADER OF AL QAEDA. CURRENTLY, JUSTICE HAS BEEN DELIVERED AND ALSO THIS TERRORIST IS NO MORE. IF YOU ARE A RISK TO OUR INDIVIDUALS, THE UNITED
STATES WILL. DISCOVER YOU AS WELL AS TAKE YOU OUT. JONATHAN:.
IN AN ADDRESS TO THE NATION.GOOD EARLY MORNING, ALONGSIDE TOM. KEENE AND LISA ABRAMOWICZ I ' M JONATHAN FERRO. THE CONCENTRATE ON TAIWAN AND THE POTENTIAL GO TO FROM NANCY. PELOSI. THE EMPHASES OF
THIS MARKET LOWER.

ON THE S&P AND ALSO NASDAQ 100.
THE S&P LOWER BY THREE QUARTERS. OF 1'% ON THE NASDAQ 100 DOWN BY 1.4 PORTION POINTS.
THE WALL ROAD JOURNAL REPORTED THAT THIS COULD HAPPEN. AS SOON AS TODAY, AND ALSO IT ' S HAPPENING THIS MORNING.$ 39 PER SHARE IN CASH, TOM. TOM: INJUSTICES EXPOSURE, WE USAGE. THAT ALTERNATIVE.
HELANE BECKER AND THEIR RETAIL. IS EXTREMELY SOLID. JONATHAN: THEY STATE IS ABOUT EXPANDING. SEVERAL OF THE CAPABILITIES WITH
THIS PARTICULAR PURCHASE. TOM:.
NOW WE OBTAIN FORTUNATE. JULIE NORMAN IS SCHEDULED TO BE.
WITH US AT THE COLLEGE COLLEGE LONDON CENTER OF U.S. NATIONAL POLITICS.
IN THIS GLOBE SHE IS DEFINITELY. CONCLUSIVE ON AL QAEDA.
I WILL ASK HER A FEW INQUIRIES. ON THE NEWS OF AL QAEDA AND ALSO AFTER THAT WE WILL CERTAINLY PROCEED TO THE.
ISSUE OF THE MOMENT.PROFESSOR NORMAN, MANY THANKS FOR. SIGNING UP WITH United States.
WHAT HAPPENS TO AL QAEDA AFTER. THE FATALITY TEN YEARS EARLIER ANDS ALSO OF CONTAINER LADEN AND ALSO NOW
THIS LATEST. DRONE MURDER? > > THE STRIKE ON AYMAN. AL-ZAWAHIRI ENDED THE PHASE ON 9/11 AND THE. MASTERMINDS BEHIND THAT.
IN TERMS OF AL QAEDA ITSELF. AYMAN AL-ZAWAHIRI HAS BEEN MORE OF A TOKEN OVER THE LAST. TWO YEARS. AL QAEDA HAS BEEN
STRONGEST. MOSTLY IN ITS ASSOCIATE GROUPS THAT RUN EVEN MORE AT THE RESIDENT. LEVEL AS WELL AS THEY HAVE SHED A GREAT DEAL OF
GROUND TO THE ISLAMIC STATE. AS WELL AS VARIOUS OTHER TEAMS THAT HAVE ACTUALLY FILLED THE GAP
. WE WILL SEE PROBABLY ANOTHER HIGH-RANKING AL QAEDA AUTHORITIES.
STEP INTO THE MANAGEMENT ROLE, BUT AS AN ORGANIZATION IT HAS. SUBSTANTIALLY LOWERED IN TERMS OF ITS INFLUENCE IN THE. AREA, ESPECIALLY AT THE CENTRAL
POINT. TOM:. THE INFORMATION FLOW IS EXTRAORDINARY, ONE MORE CONCERN.
IS AL QAEDA SOMETHING OF A PARTICULAR COUNTRY, PAKISTAN,. AFGHANISTAN, ETC., ETC., OR A GLOBAL COMPANY WE SHOULD. WORRY? > > AL QAEDA HAS GENERALLY. FASHIONED ITSELF AS EVEN MORE OF A NETWORK BASED AS MORE OF AN. INTERNATIONAL COGNITIVE TEAM, BUT I WOULDN ' T SAY THAT IT ' S.
ONE WE MUST HARBOR WORRY AROUND. OBVIOUSLY THERE ' S ALWAYS A DANGER AND
YOU DESIRED TO BE. CAREFUL, BUT THE INTERNATIONAL SORT OF TERRORISM THAT HAD OUR. INTEREST FOR AS LONG HAS
SEEN EVEN MORE LOCALLY-BASED ACTIONS THAT. TEND TO BE LOCATING EVEN MORE WITHIN COUNTRIES, ESPECIALLY IN THE. CENTER EAST AS WELL AS NORTHERN AFRICA, RATHER THAN TARGETING,. SAY, THE UNITED STATES.CERTAINLY A SERIOUS DANGER FOR. THOSE IN THOSE AREAS, BUT NOT AN INTERNATIONAL THREAT FOR. THOSE IN NORTH AMERICA.

LISA: THE HAZARD COMING FROM THE. INTENSIFYING DISPUTE FROM CHINA AND ALSO THE U.S. IS VARIOUS BECAUSE IT ' S NOT JUST ARMED FORCE, IT IS SIGNIFICANTLY.
AN FINANCIAL. WHAT ARE YOU VIEWING IN TERMS. OF THE CHINESE FEEDBACK TO NANCY PELOSI ' S ANTICIPATED VISIT.
TO TAIWAN? HOW DO YOU GAUGE WHAT A TRUE.
ESCALATION IS AS WELL AS HOW THEY INTEND TO SEE THIS PROBLEM.
PLAY OUT? > > IT IS A GOOD INQUIRY,.
SINCE IT IS UNCLEAR HOW CHINA WILL CERTAINLY REACT.
THERE HAS BEEN A GREAT DEAL OF UNSUPPORTED CLAIMS.
THERE ARE A GREAT DEAL OF DIFFERENT CHOICES EXCEPT A FULL-OUT. HEAD-TO-HEAD PROBLEM AT THIS FACTOR. MORE PROBABLE A SHOW OF COMPEL,. PROBABLY MILITARILY, BUT ALSO ECONOMICALLY AND ALSO POLITICALLY.THOSE WILL CERTAINLY RIGHT AWAY SEE AN.
INCREASE IN ARMED FORCE ACTIVITIES AND EXERCISES AROUND TAIWAN. TODAY CHINESE AIRPLANES ARE VERSUS
THE MEAN LINE, IN WHICH. THE AIRSPACE DIVIDES. LIKELY TO SEE EVEN MORE MISSILE. LAUNCHES NEAR TO TAIWAN. THOSE ARE PROBABLY
WHAT YOU. WILL SEE IN REGARDS TO MILITARY FEEDBACK. THERE COULD ALSO BE BLOCKADING THE STRAIT OF TAIWAN PHRASE. THAT IT IS NOT AN INTERNATIONAL RIVER, PERHAPS INSTALLING CLAIM.
TO OFFSHORE ISLANDS. ALSO EVEN MORE ONGOING IN THE WEEKS. AND ALSO MONTHS TO FIND, ENHANCING PRESSURE ON TAIWAN THROUGH.
CYBERATTACKS, POLITICAL AND ALSO FINANCIAL STRESS, AS WELL AS WE WILL. SEE THAT IN TERMS OF THE UNITED STATE. ALSO. PROBABLY SOME FALLOUT IN DIPLOMATIC RELATIONS WHICH HAD. CONTINUE TO BE RATHER SOLID UNTIL THIS POINT. LISA:. WALL SURFACE ROAD HAS TRIED TO PLAY OUT WITH THE FINANCIAL. IMPLICATIONS WILL BE, NOT TOMORROW, A WEEK, A MONTH, BUT.
IN 6 WEEKS, HOW IS THIS An ASPECT TO THE GLOBE? > >
IT WILL CERTAINLY HAVE AN EFFECT. WHATEVER PLAYS OUT IN THESE NEXT >> COUPLE OF DAYS.
WHAT ' S CLEAR IS THAT TAIWAN AS WELL AS THE BOOSTING TENSIONS BETWEEN. CHINA AS WELL AS THE U.S.AROUND IT WILL BE A MAJOR ISSUE.

PROBABLY FOR MONTHS AHEAD. THAT WILL CERTAINLY INFLUENCE MARKETS AND. THE TRUTH ON THE GROUND THERE.
THE IMPACT IS YET TO BE SEEN,. BUT I SEE THIS AS WATERSHED, SHIFTING THAT WILL BECOME A. MAJOR ISSUE THAT WE WILL CERTAINLY TAKE NOTICE OF WHATEVER. HAPPENS TODAY. JONATHAN: AN VITAL
EVENT TAKING PLACE. PERHAPS LATER ON THIS MONTH. JULIE NORMAN.
AUDIO SPEAKER PELOSI IS EXPECTED TO LAND IN TAIWAN IN 2 HOURS AND. HALF AN HOUR. LISA: AS WELL AS REMAIN THERE FOR THE NIGHT.
THIS IS SOMETHING IN WHICH SHE IS FLYING IN ON A UNITED STATE MILITARY AIRPLANE. THIS IS PERHAPS NOT ENDORSED BY. THE MANAGEMENT, BUT CERTAINLY WITH THE SUPPORT OF. THE NATION. I ' M LOOKING TO THE ECONOMIC.'PLAY OUT. OF COURSE, THERE IS THE CONCERN IF. THERE ARE ROCKETS RELEASED
. NOBODY THINKS THIS WILL. INTENSIFY INTO A REAL ARMED FORCE CONFLICT, BUT THE UNITED STATE ECONOMIC CLIMATE AND CHINA AND CHINA ' S PRECARIOUS SETTING. FINANCIALLY INCREASE THE SPECTER OF THE PRICES
AS WELL AS HOW THIS COULD. EVOLVE.JONATHAN: THE AMOUNT OF TIMES HAVE WE. GONE OVER THE POTENTIAL OF
ELIMINATING TARIFFS ON CHINESE. ITEMS? WE WERE AWAITING FOR A DECISION FROM THIS HEAD OF STATE, AND ALSO NOW– TOM:. I CONCUR WITH LEE SAID THAT THE SURPRISE COULD BE VERY SURGICAL.
CHINESE REACTIONS TO THE MANUFACTURING PROCEDURES AND.
AFFILIATIONS ACROSS THE PACIFIC. I THINK THAT THAT IS
A SLEEPER. NO ONE IS TALKING ABOUT. JONATHAN:. I FIND IT HIGHLY SPECULATIVE RIGHT NOW. TOM: WHATEVER WE ARE HANDLING,.
110 MILES IN BETWEEN CHINA AND TAIWAN, IS ENORMOUSLY.
SPECULATIVE. I WILL CERTAINLY CLAIM, AND THIS IS FROM.
THE COUNCIL OF FOREIGN CONNECTIONS, IT IS USUAL THAT THE.
FEDERAL GOVERNMENT OFFICIALS WILL CERTAINLY MOST LIKELY TO TAIWAN ON MILITARY AIRPLANE. THAT HAS BEEN COMMONLY DOCUMENTED OVER 30 TO 40 YEARS.JONATHAN:.

THE FED, FUNCTION OUT WHAT THEY WILL CERTAINLY DO NEXT MONTH. TOM:.
WE DEMAND FORWARD SUPPORT ON TAIWAN. [GIGGLING] LISA: A DOT PLOT. TOM: HER PUBLICATION ON HEAD OF STATE XI, IT IS.
An EXCELLENT LITTLE PUBLICATION TO READ. JONATHAN: FUTURES DOWN.8%. YOU UNDERSTAND THE TALE. THE HEADLINE RISK ON THE.
PERSPECTIVE POTENTIALLY. ON THE NASDAQ -1.4 PERCENTAGE.
FACTORS WITH THE RETURNS BOILING DOWN TO 2.5499. THE LESS CONSTRUCTIVE VIEW.
COMES THIS MORNING FROM GOLDMAN. THE MORE CONSTRUCTIVE YOU IN 24.
HRS NUMBER THAT COMES FROM JP MORGAN. WE WILL CERTAINLY SEE WHAT CREDIT RATING SUISSE CONSIDERS THIS EQUITY MARKET.
COMING UP SHORTLY ON THIS PROGRAM WITH TOM KEENE, LISA.
ABRAMOWICZ, AS WELL AS JONATHAN FERRO.

>> > > THE REALITY IS THE ECONOMIC SITUATION. IS WEAKENING. IT WILL CERTAINLY POSSIBLY DAMAGE FURTHER.
>> > > A RACE IN BETWEEN RISING COST OF LIVINGS AND PROBABLY An ECONOMIC DOWNTURN. >> > > THE FEDERAL RESERVE IS.
UNLIKELY TO BE KIND TO THE EQUITY MARKET. >> > > IF WE SEE WEAK POINT IN THE. LABOR MARKET HOW WILL THE FED'' S INTERACTION EVOLVE? >> > > THIS IS BLOOMBERG.
MONITORING WITH TOM KEENE, JONATHAN FERRO, AND LISA.
ABRAMOWICZ.JONATHAN: WORK TUESDAY. DOES THAT WORK? IT HAS A RING TO IT. TOM: IT SHOOK ME OUT OF MY REST.
FROM PINS AND NEEDLES MONDAY. JONATHAN: ALONGSIDE TOM KEENE AS WELL AS LISA.
ABRAMOWICZ, JONATHAN FERRO. WILL SHE, WON'' T SHE? SHE WILL SUPPOSEDLY MOST LIKELY TO.
TAIWAN, TALKING ABOUT AUDIO SPEAKER PELOSI. TOM:.
INTERNATIONAL RELATIONS ARE FRONT AND FACILITY TODAY. I WOULD SAY THAT THE STAKE IS UP
. AUDIENCES ON GLOBAL WALL ROAD, HONING KNOW 10:00 A.M. WALL SURFACE ROAD TIME. I CONCUR THAT THIS IS FRONT AND.
FACILITY FOR THE INTERNATIONAL ECONOMIC CLIMATE. JONATHAN:.
THE UNKNOWN, HOW WILL CHINA RESPOND? WHEN SHE WAS SET TO GO BACK IN THE SPRING THE UNSUPPORTED CLAIMS WAS A.
LITTLE VARIOUS THAN THE RHETORIC WE ARE EXPERIENCING.
NOW.TOM: THE RESPONSE IS THAT WE DON'' T. HAVE A CLUE, IT IS ORIGINAL REASONING. IT WILL CERTAINLY INTEREST SEE SOME RECALL, APPEARANCE AHEAD. JONATHAN: IT IS NOT JUST YOUR POLITICS. WE HAVE JOBS OPENING INFORMATION IN THE FUTURE TOP OF ALL OF THE FED'' S. BECOMING THROUGH THIS MORNING AS WELL AS TODAY. LISA:.
A LOT OF THE MARKETPLACE MOVES HAS BEEN THAT THERE HAS BEEN A.
ROLLOVER IN RISING COST OF LIVING. THE LABOR MARKET WILL BEGIN.
DETERIORATING AS WELL AS PROVIDE THE FED OR REASON TO DRAW BACK. DO WE SEE THAT IN JOB OPENINGS THAT DEPLETED 11 MILLION? HOW MUCH DO THEY COME DOWN, HOW SWIFTLY, AND ALSO HOW MUCH DOES THAT.
PROVIDE THE FED CONFIDENCE AHEAD OF JOBS FRIDAY THAT THERE'' S A. FACTOR TO STOP BRIEFLY, AND THIS COVERING IN THE TAIWAN ISSUE.
AS WELL AS CHINA AS WELL AS THE U.S. JUST HOW MUCH STRUCTURAL RISING COST OF LIVING.
IS GETTING EMBEDDED IN THE INTERNATIONAL ECONOMY DUE TO SOME.
OF THESE GEOPOLITICAL CONFLICTS? JONATHAN: IN THE UNITED STATES.
MANUFACTURING CAME IN AND RATES REALLY BOILED DOWN. WHEN YOU CONSIDER JOBS OPENING YOU WOULD ARGUE THAT'' S
THE.

GOAL OF THE FED.I INQUIRED IF THAT WAS THE. PURPOSE OF THE FED TO SEE THAT TYPE OF ACTIVITY IN THOSE.
BELOW READINGS. LISA: IS THE FED TRACKING OIL RATES? IS THAT WITH THIS BOILS DOWN TO? IF YOU CONSIDER THE UNDERLYING.
DATA IT REVEALS A GREAT DEAL OF THIS HAD TO PERFORM WITH OIL RATES COMING.
OFF OF THE HIGH. AT WHAT FACTOR IS FED POLICY.
TRYING TO TARGET OIL PRICES AND ALSO DEVELOP WHICH IS THE STICKIER.
ELEMENT OF INFLATION THAT THEY REQUIRED TO ADDRESS? JONATHAN:.
COMPLYING WITH A HEADING, THAT APPEARS TO SHIFT FROM MEETING TO.
MEETING AS WELL AS SITUATION TO CRISIS.FUTURES DOWN.6%

ON THE S&P. THE NASDAQ DOWN.6% ALSO. WE RECOUPED A LITTLE IN THE.
LAST 5 TO 10 MINS. WHAT A TURN-AROUND FROM A MONTH OR TWO AGO FROM CLOSE TO 3.50. LISA: FINANCIAL INSTITUTION OF AMERICA GOING TO 2%.
DUE TO THE FACT THAT OF THE INFLATIONARY PRESSURE AS WELL AS THE IDEA THAT.
THE FED WILL CERTAINLY REMAIN TO INCREASE PRICES AS WELL AS STOP LONGER-TERM.
GROWTH. TO OBTAIN A FEELING ON THAT, AT.
10:00 A.M. WE OBTAIN THAT DATA OF JOBS.
OPENINGS. HOW MUCH WILL IT PROVIDE PEOPLE.
THE FEELING THAT THERE IS A LOSS AS WELL AS ENERGY IN THE LABOR.
MARKET, A SOFTENING, PERHAPS A LITTLE ABSENCE OF PRICES POWER.
FOR STAFF MEMBERS EACH TIME WHEN THE WORKER EXPENSE INDEX CAME IN.
REGARDING WHERE IT WAS EXPECTED AND ALSO IS RISING AT A RELATIVELY QUICK.
PACE HISTORICALLY. HOME AUDIO SPEAKER NANCY PELOSI IS.
ANTICIPATED TO BE THE FIRST HOME AUDIO SPEAKER TO SEE TAIWAN IN 25.
YEARS.HOW MUCH DOES THIS RATCHET UP. STRESS IN A METHOD THAT DOESN ' T TAKE CARE OF THE MILITARY METHOD. OF CHINA AND ALSO THE UNITED STATE? REALLY, THE FINANCIAL ONE. ANTICIPATE A GREAT DEAL OF RECORDS ATTEMPTING TO UNDERSTAND WHAT A RESHAPING. OF SUPPLY CHAINS LOOKS LIKE.
WE ' VE SEEN THIS ALL YEAR. COMPANIES HAVE BEEN RE-SHORING BEING REWARDED. JUST HOW MUCH WILL THAT CONTINUE TO BE A TREND? THERE ' S TONS OF FED SPEAK TRYING TO PRESS BACK AGAINST THE. DOVISH PRIVET LOTS ARE COOKING INTO THE MARKETPLACE. WE LEARN THROUGH CLEVELAND AND ST. LOUIS ' S FED HEAD OF STATES. AT ONE POINT THEY WERE QUITE. POSITIVE. THEY ARE NOW BACK DOWN NEARLY. 20. ALLEVIATING OF FINANCIAL PROBLEMS
.

EACH TIME WHEN THE FED IS HOPING THAT A TIGHTER FINANCIAL. BACKDROP WILL CERTAINLY CAUSE A DECLINE IN RISING COST OF LIVING. JONATHAN:. THAT WILL CERTAINLY GET RISING COST OF LIVING DOWN.
THAT WILL CERTAINLY DO IT. LISA:. I DON'' T THINK A GREAT DEAL OF PEOPLE LIKE THAT. JONATHAN:. PREMATURE IS THE WORD THAT I'' VE HEARD ONCE AGAIN AS WELL AS ONCE MORE, AND YOU.
HEAR IT FROM DEBT SUISSE TOO. MANDY, LET'' S START WITH HOW DO.
YOU PLAY A PEAK IN REAL YIELDS? >> > > I GET THIS INQUIRY A LOT. THE MANY TRADITIONAL MANNER IN WHICH INDIVIDUALS CHECK OUT IT IS ACCOMPANY.
TECH OR LONG GOLD.THOSE TWO HAVE.
HISTORICALLY HAD ONE OF THE MOST INVERSE PARTNERSHIP WITH REAL.
RETURNS. IN MY SIGHT I ASSUME THAT GOING.
LONG GOLD IS A FAR BETTER GAMER FOR A HEIGHT IN REAL YIELDS.
RATHER THAN TECH. THE REAL YIELDS GOING DOWN.
EITHER AS A RESULT OF THE DOVISH FED OR AS A RESULT OF THE RISING.
ECONOMIC DOWNTURN DANGER, RIGHT? FOR TECH, IF IT IS RISING.
ECONOMIC DOWNTURN THREAT THAT DOESN'' T BODE WELL. FOR United States, LOOKING IN GOLD AS WELL AS YOU HAVE SEEN IN THE DERIVATIVE.
MARKET EVEN MORE OF AN BENEFIT IN GLD OPTIONS.TOM: ON TWITTER THE DALLAS TRIM. INFLATION STATS, THE FIRST DERIVATIVE OF THIS OVER ONE. MONTH IS STUNNING.
3.0, 3.1, AND AFTERWARDS AN EXPLOSION.
FROM 5.2 2 HI NORMA 6.9.– TWO SIGN UP WITH OR MISS 6.9.– GIANORMOUS 6.9. MANDY:.
YOU TIN PLAY IT WITH BOND ETF'' S, SO LOOKING AT WE HAVE. BEEN RECOMMENDING PEOPLE CONSIDER UPSIDE PLAYS IN LONGER INFORMATION.
BONDS. THE VIEW BELOW IS THAT THE FED.
WILL CERTAINLY IN FACT REMAIN HOSTILE AND SHOT TO CURB RISING COST OF LIVING AND.
AS A RESULT INCREASE ECONOMIC CRISIS RISKS. THAT INDICATES THAT THE BACKEND OF THE YIELD CONTOUR GOES DOWN. THAT IS MORE OF A FEATURE OF INFLATION AND GROWTH. YOU TIN TAKE A LOOK AT IT VIA HYBRID CHOICES OR EQUITY.
OPTIONS.THEIR VARIOUS MANNER INS WHICH YOU. CAN PLAY IT, BUT IN MY SIGHT
THE MARKETS ARE WRONG THAT THE FED. WILL CERTAINLY PAY THAT.
I PUT ON'' T THINK THAT RISING COST OF LIVING. WILL CERTAINLY BE AVAILABLE IN THAT RAPIDLY. POWELL HAS ACTUALLY STATED THAT HE REQUIRES.
CLEAR AND PERSUADING EVIDENCE THAT RISING COST OF LIVING IS FALLING DOWN.
TO THE 2% TARGET. I WEAR'' T THINK THAT WE WILL CERTAINLY OBTAIN. THAT SOON. LISA: JUST HOW MUCH CONVICTION HAS THIS. RALLY HAD BEHIND IT FROM A DERIVATIVES PERSPECTIVE? JUST HOW MUCH HAVE PEOPLE SHUT OUT THEIR BEARISH BANK ON THE U.S. ECONOMIC CLIMATE AS WELL AS SECURITIES MARKET PARTICULARLY AS THE MARKETPLACE.
RALLIED ONE OF THE MOST SINCE SEPTEMBER 2020.

MANDY:.
WHAT BEARISH? ONE OF THE DETERMINING.
FEATURES OF WE HAVE SEEN LITTLE HEDGING IN THE.
BY-PRODUCTS MARKET CONTRIBUTING TO THE FAIRLY LOWER DEGREES.
IN THE VIX AND ALL OF THE PROCEDURES THAT WE TRACK IN.
CHOICES. COMPONENT OF THAT IS BECAUSE WE'' VE. SEEN ALREADY EXTREMELY SUBSTANTIAL DELEVERAGING AND ALSO DE-RISKING IN.
REGARDS TO INDIVIDUALS SELLING UNAVAILABLE AND GOING INTO CASH MONEY. OVER THE PAST WEEK WE'' VE SEEN SOME PICKUP OF ACQUIRING, BUT.
CERTAINLY NOT CONSIDERABLE ENOUGH. I DON'' T THINK THAT THIS WILL CERTAINLY BE A HIGH SENTENCE RALLY, IF. ANYTHING EVEN MORE OF A BEARISHNESS RALLY.TOM:.

WHEN YOU ENCOUNTER THE HEADLINE RISK THAT WE FACE TODAY AND ALSO THE.
OCCASION THAT COULD TAKE LOCATION, SPEAKER PELOSI TOUCHDOWN IN.
TAIWAN AS WELL AS THE UNKNOWN TO HOW THE CHINESE WILL CERTAINLY RESPOND, WHAT.
DO YOU SAY TO CLIENTS WHEN THEY TELEPHONE CALL YOU CONCERNING HOW THEY SHOULD.
TAKE CARE OF THE CIRCUMSTANCE? MANDY: ON TOP OF CHINA, THERE IS.
CLEARLY A GREAT DEAL OF HEADING DANGER IN THE NEAR TERM, BUT THE.
FIGURE RISK AND ALSO WHAT I'' VE BEEN EMPHASIZING AS WELL AS THE OVERVIEW FOR.
CHINA AS WELL AS THE INTERNATIONAL ECONOMIC SITUATION IS CHINA ZERO COVID POLICY AND.
THAT WILL CERTAINLY HAVE A LARGER ECONOMIC IMPACT AND ALSO A BIGGER.
MARKET EFFECT THAN WHATEVER HAPPENS IN THE NEXT 24 HR ON.
THE GEOPOLITICAL FRONT. THE KEY IS IF YOU SPEAK TO.
CAPITALISTS MANY PEOPLE STILL ANTICIPATE CHINA TO PIVOT FROM THE.
NO COVID POLICY DUE TO THE ECONOMIC EXPENSE. IN MY VIEW,.
IF YOU PAY ATTENTION TO THE TOP CHINESE MANAGEMENT, THEY ARE.
VERY IDEOLOGICALLY COMMITTED TO NO COVID. I DON'' T THINK A POLITICALLY SENSITIVE YEAR, LIKE THIS ONE.
FOR CHINA, THEY WILL ABANDON ABSOLUTELY NO COVID WHENEVER SOON. THAT WILL INDICATE A BIGGER SHOCK FOR INTERNATIONAL DEVELOPMENT, A BIGGER.
DEMAND SHOCK FOR COMMODITY.THAT IS AMONG THE

REASONS. WE ARE THERE SHONE COMMODITIES AS OF LATE. JONATHAN:. THANK YOU AS ALWAYS. FROM CREDIT SUISSE IN NEW YORK,.
I THINK THE LAST POINT IS SUCH An ASSET. YOU CAN TRY TO NAVIGATE THE HEADLINE DANGER, BUT IT'' S ALMOST.
DIFFICULT. THIS OCCASION AND FEEDBACK HAS THE.
POSSIBLE TO BE HIGHLY CONSIDERABLE AS WELL AS LIKEWISE THE.
POTENTIAL TO PASS YOU BY. WE ARE CURRENTLY SEEING WEAKNESS.
IN THE CHINESE ECONOMIC SITUATION. IT'' S EASY TO IDENTIFY. WE UNDERSTAND COVID ABSOLUTELY NO IS SOMETHING THEY ARE DEVOTED TO AND ALSO THEY.
COULD BE THROUGH THE YEAR, MAKING THINGS TROUBLESOME FOR.
THAT ECONOMIC SITUATION. LISA: AS WELL AS BOTHERSOME WITH HOW YOU.
MANAGE IT AS AN CAPITALIST BECAUSE YOU SEE OIL COMPANIES.
COVERAGE RECORD PROFITS AND ALSO PAYING INVESTORS BACK AT ONCE.
WHEN YOU SEE BOTH DEGENERATION OF NEED FROM.
CHINA COME THAT COULD BE THE HEIGHT IN WHAT WE SEE IN.
PRODUCT DEMAND. HOW DO YOU PLAY THIS EACH TIME.
WHEN THAT HAD BEEN THE HEDGE AGAINST INFLATION, AND UNEXPECTEDLY.
IT IS A LITTLE EVEN MORE IN INQUIRY? JONATHAN: THIS APPEARS BEARISH. TO EQUILIBRIUM THIS OUT WE MOST LIKELY TO ONE MAN. HE STATES, REVENUES ON THE FED WE SEE A RESET OF INVESTOR.
ASSUMPTIONS, DANGER MARKETS RALLYING IN SPITE OF DISAPPOINTING.
DATA RELEASES.INDICATING TROUBLE.

ANTICIPATED/PRICED IN
. TOM: I ASSUMED THAT STUART KEISER. WAS GREAT THE OTHER DAY.
THEY ARE CHECKING OUT REVENUES,. THEY ARE CHECKING OUT THE CONSISTENCY OF EARNINGS, THE. COST-FREE CAPITAL FACT WAS JOE WEISENTHAL AS HE. HIGHLIGHTED WAS AN DISASTER. AND INDIVIDUALLY, THE BIG. ENDURES.
DELTA KILLING IT. JETBLUE, NOT GOOD. JONATHAN:.
WE WILL CERTAINLY REACH THE LESS CONSTRUCTIVE YOU IN THE NEXT–.
USEFUL VIEW IN THE NEXT HOUR AT 8:00 EASTERN. RIGHT CONCERNING 50 MINUTES ON TV AND ALSO RADIO. THE FUTURES DOWN.7% ON THE S&P AS WELL AS WE WILL OVERTAKE THE.
GROUP IN D.C. NEXT. ♪ >> > > RETAINING YOU UP-TO-DATE,.
NANCY PELOSI IS EXPECTED TO LAND IN TAIWAN IN A FEW HRS,.
RESISTING CHINESE THREATS OF ARMED FORCE ACTION. THE JOURNEY WILL CERTAINLY MAKE HER HIGHEST RANKING AMERICAN POLITICAL LEADER TO.
SEE IN TWENTY YEARS. CHINA HAS PROMISED AN UNSPECIFIED.
ARMED FORCE ACTION. HEAD OF STATE BIDEN STATES THAT A UNITED STATE DRONE STRIKE IN AFGHANISTAN KILLED ONE OF THE ORGANIZERS OF.
THE 9/11 ASSAULT. AYMAN AL-ZAWAHIRI WAS THE.
LEADER OF AL QAEDA. THE DRONE STRIKE HAD BEEN.
PLANNED FOR WEEKS. AYMAN AL-ZAWAHIRI WAS IN A.
RESIDENCE IN KABUL AND ALSO WAS STATED TO BE KILLED WHEN HE DEPENDED ON A.
BALCONY.A STATE OF EMERGENCY IN ACTION TO THE MONKEYPOX. BREAK OUT.
CALIFORNIA SIGNED UP WITH NEW YORK AND.
ILLINOIS IN ANNOUNCING THE EMERGENCY SITUATION. THE GOAL IS TO BOLSTER VACCINATION AS WELL AS STEM THE RISE.
OF INFECTIONS. ROUGHLY 6000 MONKEYPOX.
INFECTIONS IN THE U.S. IN THE U.K. BOWING TO CUT WASTE ADMINISTRATION AND INEFFECTIVENESS IN THE CIVIL.
SOLUTION IF SHE BECOMES HEAD OF STATE. SHE IS THE FRONT JOGGER IN THE RACE TO CHANGE BORIS JOHNSON. SHE SAYS SHE CAN SAVE BILLIONS OF POUNDS A YEAR BY SLASHING.
PAY RANGES AND ALSO VACATION ALLOCATIONS. SHARE BUYBACKS THE FASTEST PACE YET.THE LONDON-BASED POWER FIRM POSTED ITS HIGHEST INCOME SINCE
2008, HIGH CRUDE AND GAS RATES. BP'' S HIGH MARGINS PROVIDED PERFORMANCE.GLOBAL INFORMATION, 24 HR A DAY

ON-AIR AS WELL AS ON QUICKTAKE, POWERED BY GREATER THAN 2,700 REPORTERS AND ANALYSTS IN GREATER THAN 120 COUNTRIES. THIS IS BLOOMBERG. > > WHAT WILL CERTAINLY TAKE PLACE WITH AUDIO SPEAKER PELOSI STRIP IS THAT >> SHE HAS LIFTED EXPECTATIONS IN TAIWAN AND HIGH ANXIETIES IN CHINA.
I BELIEVE THAT HOW WE HANDLE TAIWAN IS An EXTREMELY BRILLIANT RED LINE AS FAR AS THE CHINESE ARE WORRIED.
I BELIEVE THEY WILL DISCOVER A MEANS TO RESPOND IN THEIR OWN STYLE THAT WILL CERTAINLY CAUSE SOME HARM UPON US.
JONATHAN: THAT WAS THE FORMER ASSISTANT OF DEFENSE, THE EVENT AUDIO SPEAKER PELOSI LANDING IN TAIWAN POTENTIALLY IN TWO HOURS TIME
— MAKE THAT 3 HOURS TIME. ALONGSIDE TOM KEENE AS WELL AS LISA ABRAMOWICZ I AM JONATHAN FERRO.
THE NASDAQ DOWN. YOU TIN TELL THAT IT IS DEFENSIVE OUT THERE. I KEEP HAMMERING THIS SET HOME.THIS TURN-AROUND IN RETURN HAS BEEN A

MONSTER GO ON THE 10-YEAR FROM THE
CENTER OF JUNE COMPLETELY TO 256. TOM: 2 THIRDS OF THE METHOD, EVEN CLOSER ON THE 40-BASIS POINT CALL.
NOT AS LOW AS THEY WERE AN HR AGO, BUT THE RATE OF THE RELOCATE IS SHOCKING.
A PERSON IS LOSING MONEY OUT THERE. JONATHAN: THE LARGEST INVERSION GOING BACK TWENTY YEARS.
TOM: WE NEED TO MIGRATE AHEAD ON THE CONCERN HANDY, SPEAKER PELOSI'' S MOMENT EN ROUTE TO TAIWAN. WOULD I FIND SO INTERESTING IS WHAT I HAVEN'' T LISTENED TO OUT OF WASHINGTON, HOW ALONE IS AUDIO SPEAKER PELOSI ON THIS TRIP? I WEAR'' T SEE INDIVIDUALS ALIGNING ON MARBLE STEPS SAYING BLAH, BLAH, BLAH FOR OR AGAINST. HOW ALONE IS SHE? >> > > SHE HAS THE ASSISTANCE OF BOTH PARTIES ALL OF An UNEXPECTED MANY THANKS TO THE RHETORIC ORIGINATING FROM CHINA. THIS PREVAILS DURING THE AUGUST RECESS THAT MEMBERS GO TO VARIOUS COUNTRIES. THIS IS A PARTICULARLY DELICATE ONE, NONETHELESS. WE'' VE HEARD FROM REPUBLICANS AND ALSO DEMOCRATS THAT CLAIM YOU CONTAINER NOT REVERSE NOW.SHE HAS EVERY
RIGHT TO GO TO THE COUNTRY AS WELL AS EVEN THE WHITE RESIDENCE MADE CLEAR, JOHN KIRBY CLAIMED WE CANISTER NOT TELL HER NOT TO GO AS WELL AS THERE IS NO ADJUSTMENT IN PLAN. THERE IS PRECEDENT FOR THIS TRIP. SO BASICALLY, WHAT IS THE ISSUE? TOM: THE GENTLEMAN FROM MAINE WAS WITH US THE OTHER DAY, THE ASSISTANT OF PROTECTION FROM AGES AGO, THIS IS A MODIFICATION. THERE WERE ALMOST NO EXPORTS FROM TAIWAN TO CHINA. AND CURRENTLY MAINLAND CHINA, 30% OF THEIR EXPORT COMPANY. THEY ARE ASTONISHINGLY ENTWINED AS 2 ECONOMIC CLIMATES? JOE: THAT IS RIGHT, WHICH'' S. ANOTHER PERSON OPPORTUNITY FOR CHINA TO RESPOND. WE HAVE BEEN TALKING ABOUT MANY DIFFERENT POSSIBLE.
ARMY RESPONSES. PERHAPS THEY DECLINE MISSILES INTO.
THE SEA. POSSIBLY THERE IS AN INCURSION OF.
TAIWANESE AIRSPACE.WHAT REGARDING A DIPLOMATIC AND ALSO FINANCIAL.
FEEDBACK? THESE ARE LIKELY ALL BEING.
CONSIDERED BY CHINA AND I'' M UNCERTAIN THAT WE WILL CERTAINLY SEE ONE
.

IMMEDIATELY.IT COULD TAKE DAYS. THE INFORMATION CONFERENCES HERE, AS WELL AS.
THEN YOU SEE THE ACTION FROM CHINA. THEY ARE TAKING THIS SERIOUSLY. I QUESTION HOW PRONOUNCE THIS.
CHECK OUT WILL BE? OBVIOUSLY NANCY PELOSI WILL CERTAINLY BE.
INVITED COMFORTABLY BY TAIWAN AND ALSO THEY ARE SIGNIFICANTLY LOOKING.
ONWARD, BUT WILL WE HAVE THE RED RUG ARRIVAL OR WILL WE.
HAVE TO DELAY HOURS TO SEE PHOTOS? LISA: HOW MUCH CONVERSATION IS THERE.
CONCERNING HOW TO DIVERGE FINANCIAL RAMIFICATIONS BETWEEN CONFLICT.
IN BETWEEN CHINA AND THE U.S.? THE TAIWANESE SEMICONDUCTOR AND ALSO.
PRODUCTION CAPABILITIES, THIS IS ONE OF THE KEY SOURCES.
OF SEMICONDUCTORS AND THE GLOBE EACH TIME WHEN THAT WAS JUST ONE OF.
THE KEY COMPONENTS INTERFERING WITH SUPPLY CHAINS A PAIR OF YEARS.
AGO.HOW WAS THE UNITED STATE PREPARED FOR POSSIBLE. DISRUPTION OR AN IN GENERAL RAMPING UP REDUCTION IN OTHER. LOCATIONS? JOE: THIS WAS THE ARGUMENT THAT. GINA RAIMONDO WAS MAKING TO OBTAIN THE CHIP ACT PASSED. SUPPOSE WE COULDN ' T GET CHIPS OUT OF TAIWAN, A CHINESE. CLOG, SOMETHING WOULD HAPPEN TO EFFECT
OUR NATIONAL. SAFETY AND SECURITY NEVER MIND CONSUMER ITEMS? THAT IS WHY THEY GOT THAT. ACROSS THE COATING LINE, THE NATIONAL PROTECTION FACET,.
COMPETING WITH CHINA. THIS IS PART OF A BIGGER.
DISCUSSION THAT THE ADMINISTRATION IS HAVING THAT.
INCLUDES CHINESE TARIFFS AND ALSO ALSO ENTAILS THE PROSPECTIVE FOR
. A FACE-TO-FACE MEETING BETWEEN PRESIDENTS BIDEN AND ALSO XI.
THEY MET BY PHONE WHICH MOTIVATED A GREAT DEAL OF THE RHETORIC. WE ARE HEARING ABOUT NANCY PELOSI, BUT A TAKE A SEAT CONFERENCE.
BETWEEN THE TWO COULD BRING MORE POSSIBILITY TO ADVANCEMENT THE.
POLITICAL AND ECONOMIC PROGRAM FOR THE U.S.JONATHAN:. THE EVEN MORE WE HEAR REGARDING THAT PHONE CALL RECENTLY THE EVEN MORE. CONTROVERSIAL IT APPEARS. TOM: COULD THAT PHONE CALL HAVE OCCURRED. THIS WEEK? THAT IS A REALLY CRUCIAL. QUESTION, THE WEAR AND TEAR.
WHAT ARE THEY GOING TO TALK.
ABOUT? JONATHAN: T.K., WHAT ARE THEY GOING TO.
SPEAK ABOUT EXACTLY. THE SUGGESTION THAT THEY ELIMINATE. TARIFFS ANYTIME SOON APPEARS TO
HAVE SLIPPED OFF THE LAST. PAIR OF DAYS.
LISA: IT APPEARS THAT IS OFF THE TABLE. AND ALSO NOW THERE WILL BE An INQUIRY OF FINE. HOW MUCH THAT CONVERSATION FORESHADOWED THIS BROWSE THROUGH BY. PELOSI TO TAIWAN, SINCE NEITHER OF THEM, NEITHER. XI JINPING OR JOE BIDEN ' S CAMP SAID THAT IT WAS A CONSTRUCTIVE'. CALL.BOTH STATED THEY WOULD PLAN IN.
INDIVIDUAL CONFERENCES. JUST HOW MUCH OF THAT WAS IN.
EXPECTANCY OF A RATCHETING UP OF THE PROBLEM TO COME TO SOME.
UNDERSTANDING?NEITHER NATION CAN TAKE CARE OF THE FINANCIAL FALLOUT.
NOW, PARTICULARLY CHINA. HOW DOES THE U.S. USE THAT UTILIZE? JONATHAN: TENSIONS HAVE BEEN SIMMERING.
FOR SOME TIME ENHANCED BY WHAT HAPPENED IN UKRAINE.
EARLIER THIS YEAR AS WELL AS HOW CHINA TOOK THE SIDE OF RUSSIA AGAINST.
THE DREAMS OF THE U.S.ADMINISTRATION. TOM:. NO DOUBT COME THE AFFILIATION IS
THERE. WHAT I WOULD GO BACK TO YOU A MODIFICATION IN RHETORIC, AND ALSO YOU NEED TO GET TO BACK 4, 5, 6.
YEARS AND ALSO THIS IS ABOUT THE SEA IN CHINA. FORGET THE CHINA OF HENRY KISSINGER, THIS IS NOT THE.
CHINA OF EARLY OBAMA. JONATHAN: THAT IS WELL FRAMED. HAWKISH ON THE INTERNATIONAL STAGE. THIS IS ALL WE UNDERSTAND AT THIS POINT, THAT WE WILL CERTAINLY OBTAIN.
SPEAKER PELOSI LANDING IN THE NATION AT 10:20 P.M. RESIDENT TIME, ABOUT THREE HRS FROM CURRENTLY. FROM THERE, THAT UNDERSTANDS? LISA: AS WELL AS HOW QUICKLY DO WE GET A.
RESPONSE? YOU GET THE PROMPT POMP AND SITUATION, THE PROGRAM TRAVELING.
IN SOMEPLACE, BUT WHEN DO WE SEE THE REAL FISHERS START–.
FISSURES START? JONATHAN: IT IS DEFENSIVE OUT THERE, DANGER.
AVERSION.THE EQUITY MARKET IS PULLING. DOWN YIELDS AS WELL.
DOWN REGARDING A BASIS POINT ON THE. 10-YEAR.
THE DOLLAR STAMINA AGAINST THE.
EURO, NEGATIVE. CRUDE NEARLY TRANSFORMING AROUND.
IN THE LAST HOUR, NOW FAVORABLE ON THE SESSION. JONATHAN:.
2 METHODS OF LOOKING AT THIS MARKET, DANGER MARKETS ARE.
RALLYING REGARDLESS OF DISAPPOINTING DATA. THAT INDICATES THAT A GREAT DEAL OF THIS WAS ANTICIPATED, PRICED IN. THE OTHER METHOD IS FROM GOLDMAN.THEY SAY WE ARE

GETTING ALSO. COMPLACENT TO SOON.– ALSO SOON. A PHOTO OF EVENTS THIS.
MORNING, WAITING FOR SPEAKER PELOSI TO POSSIBLY LAND IN.
TAIWAN IN A LITTLE OVER THREE HOURS. WE DON'' T KNOW HOW CHINA. RESPONDS. FUTURES DECREASED. THE NASDAQ DOWN.7%. IT IS STILL OVER QUITE CLEAR RIGHT INTO THE BOND MARKET WILL CERTAINLY QUIT.
THINGS OBTAIN BETTER AS THE SESSION AGES. 30-YEAR DOWN THREE BASIS POINTS. THE 10-YEAR, WHICH HAS GONE NEAR TO 350 COMPLETELY DOWN.
TO 255. A GREAT DEAL OF DEAL WITH THE RETURN.
CURVE. THE DISTINCTION IN BETWEEN THE TWO,.
-30 BASIS POINTS. I WILL MENTION THE 3.
MONTH VERSUS THE ONE DECADE. INVERSION TOO. TOM: THE SPREAD MARKET IS SPEAKING.
VOLUMES AND REPRICING SOME KIND OF DECREASE. EVERYBODY IN THE EQUITY MARKETS OBTAINED AN OPINION HERE AS WELL AS THERE.
AND I'' M UNCERTAIN WHICH ONE TO BELIEVE. THE MARKETPLACE IS TELLING ME, SLOW DOWN.JONATHAN: DEFENSIVE. TO RECORD SOME OF THE. DEFENSIVENESS, THE JAPANESE YEN STRONGER FOR FIVE DAYS. DOLLAR-YEN FROM THE CENTER OF JULY, NEAR TO 140. CURRENTLY BACK TO 13097. HE LIKES THE SHORT AGAINST THE EURO AND ALSO HE IS LOOKING FOR THE. YEN TO FIND DOWN FROM WHERE WE ARE NOW POSSIBLY INTO THE. ONE 20 ' S. TOM: THE TYPICAL DEVIATION
RESEARCH,'. THAT IS A REALLY SOLID JAPANESE YEN
. ESCAPE. JONATHAN: IT IS ABOUT YIELDS. WE HAVE SOME THREAT AVERSION AND ALSO THAT IS A MORE POWERFUL JAPANESE YEN. THE YEN TALE STARTING TO WORK IN A METHOD IT DIDN ' T OPERATE AT THE. START OF THE YEAR.WE CONTAINER SEE THAT TODAY.
WITH LISA ABRAMOWICZ. LISA:. IT DOESN ' T CONFIRM THE GLOOM, AND HE IS RIGHT WHEN IT COMES'. TO BUSINESS THAT HAVE REPORTED REVENUES SO FAR.
PINTEREST AND UBER, THEIR. SHARES ARE DOWN OR THAN 40% UP UNTIL NOW AHEAD OF TODAY ' S TRADING. SESSION. BOTH SHARES POPPING DRAMATICALLY. PINTEREST REPORTED REVENUES AFTER THE BELL. THOSE SHARES OF NEARLY 20 %. ELLIOTT ADMINISTRATION TAKING A. BULK STAKE, BUT ALSO THE STRENGTH OF THEIR CUSTOMER BASE,. WHICH IS MAJORLY LADY AS WELL AS IS DOWN 5% ON THE YEAR, BUT STILL. A GREAT DEAL EVEN MORE ROBUST THAN PEOPLE EXPECTED. UBER, BETTER THAN ANTICIPATED INCOMES WHEN THEY ARE DEALING WITH. OFF WITH RIDESHARING, INFLATION, AMID THE. INFLATIONARY INPUTS, SHARES UP 11% AHEAD OF THE OPEN. NOT DOING HOT, JETBLUE DOWN 3.4% ON THE HEELS OF DEMAND. BEING VERY STRONG, ABILITY NOT MEETING THAT. NOT SEEING CAPABILITY COMING UP AS LONG AS INDIVIDUALS WANT. IT ' S INTERESTING THE SHARE PRICES COMING DOWN SO MUCH EVEN. THOUGH PEOPLE ARE STILL PAYING EVEN MORE, AND ALSO MORE THAN PEOPLE. ANTICIPATED FOR THE AIRLINE TICKETS.
WE HAVE BEEN TREATMENT THIS, BUT THE OIL COMPANIES, THE EARNINGS. HAVE BEEN RECORD-BREAKING IN LOTS CAPABILITIES. BP UPLOADING THE BEST EARNINGS GOING BACK TO 2000 EIGHT, THOSE. SHARES UP 2.5 PERCENT WITH ENHANCING REWARDS THROUGHOUT THE. BOARD.BOTH HAD DOCUMENT EARNINGS. THESE ARE THE TWO BIGGEST SHALE.
AND ALSO OIL

PRODUCERS IN THE UNITED STATES.
THEY DISCUSSED INCREASING DIVIDENDS. BOTH SHARE COSTS DOWN. AT WHAT INDICATE LOWER OIL. COSTS AND ALSO THE POSSIBLE BACKDROP OF REDUCING DEMAND. BEGINNING TO EAT INTO A FEW OF THESE OIL BUSINESS, ALSO AS THEY. REPORT RECORD EARNINGS? TOM: THE DIVIDE IS ED MORRIS OF. CITIGROUP A FEW DAYS AGO REALLY QUITE EXTRAORDINARY, MODELING. OUT $80 AS A POSSIBILITY ON OIL.BRENT CRUDE,
IN THE SIX DOLLARS. SPREAD OFF OF THE WEST TEXAS INTERMEDIATE. BRENT CRUDE$ 101 A BARREL. SHE UNDERSTANDS ABOUT JETBLUE. SHE OUTMATCHED ON JETBLUE. SHE IS THIS EARLY MORNING GOING TO. HAVE THE EXCELLENT ADVICE OF MARK MCCORMICK. THEY WILL CERTAINLY TAKE OUT A GREAT SUIT. MARK MCCORMICK AND ELAINE. BECKER. MR. MCCORMICK SIGNS UP WITH US, THE. GLOBAL HEAD OF FX METHOD AT TD SECURITIES. WHAT IS THE BUCK GOING TO PERFORM IN THE NEXT YEAR? MARK: WE WILL CERTAINLY TALK ABOUT THE TOP. DOLLAR STORY. THAT ' S NOT IN WHICH WE GO TO IN. THE NEXT PAIR OF MONTHS, BUT'IF WE LOOK WHERE WE ARE AS WELL AS. EXTRAPOLATE PAST THIS YEAR IT LOOKS LIKE WE WILL CERTAINLY GO TO THE. CONDITIONS OF THE TOP BUCK, THE FED CUTTING RATE. THE EURO AREA IS LOOKING INTO A RECESSION, BUT ALL OF THOSE. VARIABLES COULD TRANSFORM BY NEXT YEAR, SO THAT IS THE
BIG. PROJECTION IN THE TALE, THE TRANSFORMING OF THE BUCK IN THE.
NEXT YEAR. TOM: ON A RISK-ADJUSTED BASIS,.
INCLUDING GEOPOLITICAL DANGER CHANGED, WHICH IS THE MONEY.
APARTMENT ON ITS BACK WITH THE BIGGEST WEAK BUCK.
OPPORTUNITY? MARK: IT IS BILLION. FROM AN ASSESSMENT– IT IS.
STILL YET. FROM AN ASSESSMENT POINT OF VIEW SPEAKING ABOUT THE YIELD CURVE,.
50% OF THE RETURN CONTOUR IS INVERTED. IF WE THINK ABOUT THE REDUCING PROBLEMS IN THE UNITED STATE AND JUST HOW MUCH OF THE YEN HAS MOVED FROM REASONABLE WORTH, FAIR.
VALUE SOMEWHERE 110 TO 115.

IF WE THINK ABOUT THE TURNAROUND.
OF THE DOLLAR COME THE EUROZONE HAS A GREAT DEAL OF CYCLICAL PROBLEMS.
TO DEAL WITH. THE BIG MOTORIST FOR WHAT PRESSED.
THE YEN WEAKER HAS BEEN GLOBAL RATES MOVING HIGHER IN THE OIL.
IN REGARDS TO TRADE SHOCK. YOU'' VE ALREADY STATED ON THE.
OIL SIDE, WE ARE EXPECTING OIL PRICES TO BE LOWER NEXT YEAR AS.
WELL. THE MIX OF TOP HIGHER.
RATES AND ALSO ESSENTIALLY An OPTIMAL IN THE REGARDS TO THE PROFESSION CYCLE,.
WHICH HAS BEEN CHALLENGING FOR ASIAN CURRENCIES THE LAST SIX.
MONTHS, THOSE TURNAROUNDS WOULD ASSISTANCE US SEE DOLLAR-YEN ACTION.
BACK CLOSER TO FAILING VALUE– CLOSER TO FAIR WORTH. JONATHAN:.
IS THIS A DANGER OF TRADE THAT CURRENTLY WORKS, OR IS IT A TRADE.
THAT WILL WORK WITH COMPLETION OF THE YEAR DUE TO THE.
CHARACTERISTICS YOU DESCRIBED? MARK: THE THREAT OFF AIDS DUE TO THE FACT THAT IT.
IS PUSHING YIELDS LOWER. I ASSUME THAT IS AN ESSENTIAL.
MIX THEN WHAT WE ARE BEGINNING TO SEE. THE FED HAD ARTICULATED A LITTLE BIT OF A FOCUS ON GROWTH. WE KNOW THEY ARE NOT THERE YET.IT IS TO TRADE THIS AS A.
DURABLE FEE. IN THE YEAR TERM PURCHASING THE.
DOLLAR VERSUS MOST SIGNIFICANT MONEY, BETTER FOR TALKING.
REGARDING THE NEXT 6 MONTHS TO A YEAR THE CONDITIONS ARE.
ALTERING WHERE UNITED STATE DATA IS DETERIORATING. IN THE BACKGROUND IT DOESN'' T NEED TO BE THREAT OFF. WE ARE NOT GOING TO SEE THIS PERSISTENT DETERIORATION IN.
TERMS OF PROFESSION WHERE OIL PRICES GO TO 120 DOLLARS A BARREL. IF ARE DISCUSSING OIL BELOW 100 NEXT YEAR THAT WILL CERTAINLY BE.
POSITIVE FOR THE JAPANESE PROFESSION BALANCE AND EUROPEAN TRADE.
BALANCE ALSO. LISA: LISA: LET'' S SAY THAT THE FED DOES NOT. PIVOT. THAT THEY REMAIN TO ELEVATE.
RATES AND ALSO YOU START TO SEE PROBLEM ABOUT HAVING TO GO.
ADDITIONAL AND MAYBE QUICKER THAN PEOPLE ARE EXPECTING. AT CREDIT RATING SUISSE, TALKING ABOUT A 5% TO SIX.
6% HEDGE FUND RATE TO OBTAIN INFLATION DOWN. DOES THAT GET RID OF AS THEY START TO PROJECTION A HIGHER.
DOLLAR TO COME? MARK: THEY'' RE NOT HAVING FUN WITH OUR.
BASELINE AT 5% TO 6% TERMINAL PRICE. YOU TIN SEE THAT WE ARE BIT EVEN MORE HAWKISH THAN WHERE THE.
MARKET IS CURRENTLY PRICED WHICH IS WHY WE LIKE THE DOLLAR.
NOW.IF ARE TALKING ABOUT A 5% TO 6%.
TERMINAL RATE NEXT YEAR, DANGER OFF AND ALSO An INTERNATIONAL ECONOMIC DOWNTURN,.
THIS REINFORCES IN WHICH WE IN. An INTERNATIONAL DEMAND SHOCK CHECKLIST THE.
BED OFFERING THE DOLLARS LIKE THE GLOBE SAFE HOUSE. IF YOU BELIEVE REGARDING WHERE PROPERTIES HAVE DONE WELL IN THE LAST.
THREE MONTHS, ENERGY RATES, CHINESE EQUITIES, AND ALSO THE.
DOLLARS ALL THERE HAS BEEN. THE BUCK IS OFFERING.
RELATIVELY HIGHER YIELDS AND ALSO GOOD INFORMATION TO A DECLINING.
INTERNATIONAL ECONOMIC SITUATION. WERE TALKING ABOUT A 5% TO 6%.
FED TERMINAL RATE, THEN THE HEIGHT DOLLAR TALE WILL NOT.
PERSIST. LISA: WHAT IS YOUR HIGHEST CONVICTION.
PROFESSION NOW? MARK: I KNOW WE'' VE MOVED A GREAT DEAL IN THE.
TEMPORARY BUT I BELIEVE SEVERAL OF THE EUROPEAN CROSSES. STERLING, THE BANK OF ENGLAND, STERLING AND ALSO DISADVANTAGE IS QUITE.
ATTRACTIVE, THE EURO-YEN DOWNSIDE IS QUITE ATTRACTIVE. TOM: GIVE United States SOME NUMBERS.MY HEAD IS SPINNING. JON, BEAR IN MIND. PLEASE. I HAVE SHED MY SURVEILLANCE.
PENCIL. PROVIDE ME A YEN NUMBER. SHORT YEN NOW IS TO WHAT? MARK:.
WE ARE ANTICIPATING MUCH BETTER UNITED STATE DATA, SO I ASSUME WE OBTAIN A.
DOLLAR-YEN REVERSAL TO 133. WE COULD SEE ANOTHER FIFTY PERCENT.
PERCENT RELOCATION HIGHER IN EURO-YEN I THINK WE ARE GOING THROUGH.
130. I THINK THAT THAT WOULD BE A.
GOOD SHORT-TERM ESTABLISH. TOM: A YEAR FROM NOW ARE YOU AT 120.
2 CONVENTIONAL VARIANCES OUT OR REINFORCED TO 115? MARK:.
WE HAVE YEN AT 120-ISH. THAT ATMOSPHERE WILL CERTAINLY BE QUITE.
BULLISH FOR THE YEN, PARTICULARLY OIL RATES AS WELL AS THE.
TRADE SHOCK, WHICH WOULD BEGINNING TO REVERSE. TOM:.
DOES THIS HELP MY 401( K)? JONATHAN:.
HOW RELIEVED ARE YOU THAT FOREIGN-EXCHANGE IS NO MORE.
BORING? MARK: IT WOULD BE EXCELLENT IF THE REGIME.
DID NOT MODIFICATION WEEKLY, BUT YEAH.

[LAUGHTER] YEP, INDIVIDUALS RESPECT FX AGAIN. JONATHAN:.
PRECIOUS MEMBER THAT TIME THAT WENT ON FOR SEVERAL YEARS THAT NOBODY REALLY.
CARED REGARDING FOREIGN-EXCHANGE– DO YOU REMEMBER THE MOMENT THAT.
TOOK PLACE FOR MANY YEARS THAT NO PERSON REALLY APPRECIATED.
FOREIGN-EXCHANGE? TOM: NO PERSON IS DOZING OFF. THAT WAS AMAZING. TO TRANSLATE THAT, WEAK YEN,.
130 TO 133, AND AFTER THAT A BIG RELOCATE OF STRONG YEN. I BELIEVE HE STATED 120-ISH. JONATHAN:.
134 ON EURO-YEN TODAY TARGETING 125. THAT IS COMPLETION OF SEPTEMBER. THAT'' S THE CALL. THAT ' S THE
DURATIONS AS WELL AS YOUR NUMBER. LISA:. JUST HOW MUCH OF THAT IS THE COMPROMISING AND THE BUCK,.
BASICALLY? THIS RELOCATE FAR FROM THE HAWKISH.
FED AND ALSO THE HAWKISH ECB WHATEVER, ALLOWED JAPAN TO.
RELOCATE FAR FROM SOME OF THEIRS PROVIDING THEM BREATHING SPACE. THAT COULD TRIGGER THIS SIGNIFICANT RALLY THAT PEOPLE.
ARE REQUIRING IN THE YEN.JONATHAN:.

YELL OUT TO PRESENTING THE STUDY THIS WAY. THEY PUT THE DEGREE OF SENTENCE ALONGSIDE THE PROFESSION. THEY HAVE A TYPE OF ON A SHORT EURO-YEN. TOM:.
I HAVE A SOLID CONVICTION THAT WE DEMAND A REFRESHER COURSE. JONATHAN:.
NO QUESTION THAT YOU HAVE A HIGH CONVICTION OF THAT EVERY.
MORNING EVERY HR. ON THE NASDAQ WE HAVE.3%. IT IS A SEVERE EARLY MORNING, BELIEVE IT OR NOT. AUDIO SPEAKER PELOSI RELATIVELY HEADING TO TAIWAN. THE LATEST OUT OF ASIA, AHEAD. THIS IS BLOOMBERG.
♪ >> > > KEEPING YOU CURRENT WITH INFORMATION FROM WORLDWIDE.
WITH THE FIRST WORD.THREATS BY CHINA DON ' T SEEM TO. BE DETERRING RESIDENCE AUDIO SPEAKER NANCY PELOSI. SHE IS EXPECTED TO END UP BEING THE HIGHEST-RANKING UNITED STATE POLITICAL LEADER IN 25 YEARS TO SEE TAIWAN. CHINA PLEDGED AS WELL AS UNDEFINED MILITARY ACTION BELIEVING OF. TAIWAN AS COMPONENT OF ITS OWN AREA. THE U.S. SECURED A LONG TERRORIST THAT ASSISTED PLAN THE 9/11 STRIKE NOW. THE LEADER OF AL QAEDA.
AYMAN AL-ZAWAHIRI HAS BEEN. KILLED IN AFGHANISTAN BY UNITED STATE DRONE STRIKE. IN A STATEMENT AT THE WHITE RESIDENCE THE PRESIDENT SAID JUSTICE HAS BEEN– THEIR OBJECTIVE. IS TO PARE DOWN THE$ 433 BILLION BILL, WHICH LIMITS. REGULATIONS WITH A SIMPLE MAJORITY. THE RIDE-HAILING COMPANY. REPORTED SECOND-QUARTER INCOMES MORE THAN INCREASED.
BEATING ESTIMATES.UBER IS LOOKING TO INCLUDE. GUEST TRIPS, FOOD SHIPMENT TO AN ALL-TIME HIGH.

POSTING SECOND-QUARTER SALES
. THAT BEAT QUOTES, THE MAKER OF BUILDING AND CONSTRUCTION AND MINING. MACHINERY IS REVEALING A DOWNTURN IN CHINA WITH UNFAVORABLE. PRODUCTION COSTS FOR RAW RATES FOR PRODUCT. WORLDWIDE INFORMATION, 24-HOUR A DAY ON-AIR AS WELL AS ON QUICKTAKE,. POWERED BY GREATER THAN 2,700 REPORTERS AND EXPERTS IN. EVEN MORE THAN 120 COUNTRIES. THIS IS BLOOMBERG.
♪ > > I BELIEVE IT ' S An ERROR FOR.
THE SPEAKER TO VISIT TAIPEI.THE GOAL OF DIPLOMACY WITH. CHINA IS TO DECREASE STRESS'NOT RAISE STRESS. HER GO TO TO TAIWAN WILL CERTAINLY PLAINLY ENHANCE STRESS.
JONATHAN: AUDIO SPEAKER PELOSI HEADED TO TAIWAN. THUS THE PREVIOUS UNITED STATE AMBASSADOR TO CHINA. FUTURES ARE DOWN.6 %ON THE S&P. DOWN 3 QUARTERS OF 1% ON. THE NASDAQ. LOTS OF ECONOMIC INFORMATION THIS. WEEK, JOB OPENINGS IN AMERICA UPCOMING UP A BIT LATER.
SOME FED SPEAK TOO THIS MORNING.
TOM:. ARE THEY GOING TO TALK AHEAD ADVICE? IT ' S INTERESTING HOW THAT WILL MOVE. JONATHAN:. THEY HAVE TO TALK ABOUT HOW THEY DEPEND ON THE DATA. THEY HAVE TO REESTABLISH THEIR REACH AND ALSO FEATURE, SO TO. SPEAK, AFTER A A GREAT DEAL OF PEOPLE SAW THE WORDS OF CHAIRMAN. POWELL LAST WEEKEND BREAK IS REALLY DOVISH.
TOM:. THE REAL RETURN IS CURRENTLY.07, A BOUNCE IN THE RIGHT INSTRUCTIONS. JONATHAN:. YOU POINTED OUT THE THREE-MONTH, 10-YEAR, THAT AWAY FROM. INVERSION. TOM: THIS IS AN CRUCIAL. DISCUSSION. EAGERLY ANTICIPATING SPEAKER. PELOSI ' S HISTORIC TRIP, RECALLING TO SPEAKER GINGRICH IN.
1997. JONATHAN: 10:25 ACCORDING TO MY
REPORTS. TOM: THIS IS THE DISCUSSION THROUGHOUT. THE BLOOMBERG WORLD.THE BLOOMBERG TAIPEI BUREAU. PRIMARY AND ALSO MUCH MORE THAN THAT, HAS LIVED THE CHINESE. EXPERIENCE, AS WELL AS WE ARE THRILLED HE CANISTER JOINING US FROM

TAIPEI.
SAMPSON, I WOULD LIKE TO KNOW WHAT THE PEOPLE OF TAIWAN SAY.
I STATE THIS WITH TERRIFIC REGARD FOR THE LECTURES THAT I ' VE HAD. THROUGHOUT THE YEARS.– ALSO SCARLET FU OF BLOOMBERG. WHO ONCE TOOK MY AVOID AS I MERGED TAIWAN AND CHINA. WHAT ARE THE PEOPLE OF TAIWAN THINKING TODAY? SAMPSON:.
YOU ' RE DEFINITELY STEPPING ON EXTREMELY DANGEROUS TERRITORY. WHENEVER YOU GET INVOLVED IN THAT DISCUSSION OVER TAIWANESE VERSUS.
CHINESE. FOR SURE, I FEEL YOUR PAIN. TODAY WE ACTUALLY ARE FINALLY.
OBTAINING PALPABLE ASSUMPTION IN TAIPEI. WE ARE IN THE LAST COUNTDOWN OF ANSWERING THIS CONCERN THAT. MUCH OF THE WORLD HAS BEEN ASKING, WILL CERTAINLY PELOSI PERTAIN TO. TAIWAN OR WILL SHE? WE WILL CERTAINLY GET THAT RESPONSE, AND. ALL INDICATIONS ARE THAT SHE WILL CERTAINLY BE RIGHT HERE. AS FOR HOW PEOPLE AND TAIWAN ARE RECEIVING THIS, LARGELY FOR.
THE RECENTLY IT HAS BEEN WITH A CUMULATIVE SHRUG. TAIWAN IS ALWAYS WELCOME THESE. PROMINENT VISITS.
TAIWAN IS OFTEN LARGELY. OMITTED ON THE INTERNATIONAL PHASE. IF PELOSI WANTS TO COME TO
. TAIWAN, THAT IS A CAUSE FOR JOY IN TAIWAN, BUT– TOM: JON HAS. MADE CLEAR THAT THE TOTAL CHANGE FOR US IS PRESIDENT XI,. VARIOUS MANAGEMENT IN BEIJING.TO THE PEOPLE OF TAIWAN, THE.
GOVERNMENT OF TAIWAN, DO THEY SEE A SEACHANGE IN CHINESE.
LEADERSHIP OUT OF BEIJING? SAMSON:. THERE IS NO QUESTION THAT XI JINPING HAS TRANSFORMED EVERY LITTLE THING. WITH REGARD TO CHINA ' S CONNECTION TO ITS PERIPHERY ET CETERA. OF THE GLOBE. IF YOU GO BACK 10 YEARS THE.
PREDOMINANT FEELING IN TAIWAN IS YOU HAD A PRO CHINESE. GOVERNMENT, A GOVERNMENT EVENT THAT SUPPORTED EVENTUAL.
UNIFICATION WITH CHINA. ONE DECADE LATER WE ARE IN A. DIFFERENT LOCATION IN TAIWAN IN WHICH THERE IS A SWIFTLY GROWING.
NOTICE OF TAIWAN MOVING EVER FURTHER FAR FROM XI JINPING ' S. DREAM OF REUNIFICATION. LISA: WHAT HAS THE LESSON BEEN.
TO TAIWAN FROM WHAT TOOK PLACE IN UKRAINE? SAMSON:.
TAIWAN HAS BEEN WATCHING EVENTS IN UKRAINE VERY CLOSELY, AS HAS.
CHINA OBVIOUSLY.TO LEARN EXACTLY HOW– AS WELL AS THE. CONTRASTS ARE OBVIOUS– HOW CONTAINER A SMALLER ENTITY DEFEND. ITSELF AGAINST THIS MUCH LARGER, MORE EFFECTIVE NEXT-DOOR NEIGHBOR? DEFINITELY THE LESSONS THAT IT HAS ACTUALLY FOUND OUT ARE THAT FIRST YOU. HAVE TO PREPARE.
YOU HAVE TO OBTAIN YOUR POPULATION. ALL SET AND THE POPULACE NEEDS TO BE WILLING TO BATTLE. A GREAT DEAL OF TAIWANESE HAVE BEEN RELOCATED BY WHAT THEY HAVE SEEN IN. UKRAINE BY HOW WILLING INDIVIDUALS ARE TO STAND AS WELL AS POTENTIALLY. LAYING DOWN THEIR LIVES TO DEFEND THEIR NATION. THEY ARE DEFINITELY RELOCATED TO BEGINNING PREPARING THE POPULACE. TO BE MENTALLY PREPARED TO POSSIBLY STAND UP AND BATTLE. AND ALSO YOU HAVE THE LOGISTICAL THINGS LIKE CAN YOU GET ENOUGH. MUNITIONS, SUFFICIENT MATERIAL BELOW THAT WOULD
SUSTAIN THE BATTLE. UNTIL POTENTIALLY YOU OBTAIN A BIGGER ALLY, THE UNITED STATES. AND ALSO POSSIBLY JAPAN, COMING
TO ASSIST YOU? ONE THING THAT IT HAS SHOWN IS THAT TAIWAN
WOULD NOT BE ABLE. TO ELIMINATE THAT FIGHT ON ITS OWN. LISA:.
QUICKLY, TOM BEGAN BY ASKING YOU WHAT THE MOOD WAS LIKE AND. YOU SAID IT IS A SHRUG, INDIVIDUALS DON ' T TREATMENT. IS THERE HOWEVER CONCERNED ABOUT THE
ECONOMIC BLOWBACK. FROM CHINA PENALIZING TAIWAN, NOT FROM An ARMED FORCE POINT OF VIEW. BUT AN FINANCIAL ONE'? SAMSON: THAT IS OBVIOUSLY THE. PREDOMINANT CONCERN.WHILE PEOPLE DO BROADLY WELCOME
. THESE KINDS OF VISITS TO PUT TAIWAN IN THE INTERNATIONAL.
LIMELIGHT, INDIVIDUALS ARE ABSOLUTELY MINDFUL THAT IT DOES.
COME WITH SOME DOWNSIDES. WE
SAW THAT YESTERDAY WHEN.
CHINA OUTLAWED THE IMPORTS OF FOODSTUFFS FROM TAIWAN.
AMONG THE DIFFICULT POINTS WERE TAIWAN IS AFTER THIS VISIT.
IT WILL OPEN ITS ARMS TO PELOSI AND ALSO WELCOME HER, BUT TAIWAN DID. NOT LAUNCH THIS. TAIWAN WILL CERTAINLY ENDURE THE. EFFECTS AS WELL AS CHINA ' S RAGE. TAIWAN IS IN A DIFFICULT. PLACEMENT. JONATHAN: I ASSUME IT IS ESSENTIAL TO.
SQUEEZE THIS IN, WHAT TRANSFORMED FROM YOUR POINT OF VIEW, FROM. CHINA'' S VIEWPOINT, AND
THE LAST THREE TO 4 MONTHS? WHEN AUDIO SPEAKER PELOSI WAS BECAUSE OF ENTER THE SPRING SHE COULDN ' T. BECAUSE SHE CONTRACTED COVID.I DON ' T REMEMBER THIS SORT OF. UNSUPPORTED CLAIMS. WHAT TRANSFORMED? SAMSON: I ASSUME THIS GOES BACK TO. UKRAINE.CHINA IS VIEWING WHAT IS GOING
ON AND IT REALLY OBSERVES THAT IT NEEDS TO MESSAGE EXTREMELY
STRONGLY IF IT IS GOING TO DISCOURAGE BETTER INTEGRATION AND ALSO
CONTACT BETWEEN TAIWAN AS WELL AS THE UNITED STATES PRECISELY BECAUSE
TAIWAN ISN'' T ALL SET TO LAUNCH THE FULL-SCALE INVASION THAT WE
MAY SEE 5 TO SEVEN YEARS FROM CURRENTLY OR A YEARS FROM NOW. BUT IT IS MESSAGING AGGRESSIVELY TO PERSUADE THE
REMAINDER OF THE GLOBE TO WITHDRAW TAIWAN. JONATHAN:
TERRIFIC TO CAPTURE UP WITH YOU AND FANTASTIC TO LISTEN TO YOUR
POINT OF VIEW ON THE GROUND IN TAIWAN. An UNIQUE VIEWPOINT ON THE GROUND. THE REMOVE FROM THAT, AND ALSO LISA MENTIONED A NUMBER OF
TIMES, A COLLECTIVE SHRUG FROM A WHOLE LOT OF PEOPLE.TOM: WE HAVE

PEOPLE WORLDWIDE THROUGHOUT THE BLOOMBERG WORLD AS WELL AS IT IS PRIZED POSSESSION. I KNOW THAT IT'' S A MAJOR DAY, BUT MAY BE A TRIP TO TAIPEI. I BELIEVE WE DEMAND TO PERFORM MORE THAN THAT. I HAVE JUST BEEN TO THE AIRPORT. WE> DEMAND TO PERFORM EVEN MORE.
> > LOOKING AT THE MARKETPLACE REACTION, THE HIGHER RISING COST OF LIVING IS A GAME CHANGER. > > A LOT OF INFLATION WE
HAVE EXPERIENCED DOESN'' T HAVE A LIFE OF ITS>> OWN. > > WE ARE GOING TO BOUNCE AROUND UNTIL WE GET VALIDATION THAT RISING COST OF LIVING IS UPCOMING DOWN. >> > > IT IS NOT A MATTER OF IF THERE IS A RECESSION, IT IS WHEN AND JUST HOW MUCH. COMMENTATOR: THIS IS “” BLOOMBERG MONITORING””.
WITH JONATHAN FERRO, TOM KEENE AND LISA ABRAMOWICZ. A THE MAJORITY OF UNUSUAL TUESDAY, THE MARKETPLACE ON THE ACTION THAT IT IS A.
TUESDAY OF INTERNATIONAL RELATIONS. IN TWO HOURS ANDS ALSO, THE AUDIO SPEAKER OF YOUR HOME IS ARRANGED TO.
LAND IN TAIWAN. INDIVIDUALS LOOKING AT FLIGHT RADAR.
OF THE JOURNEY FROM SINGAPORE THROUGH THE PHILIPPINES TO.
TAIWAN. JONATHAN: LOCAL REPORTS INDICATING.
GOAL, SOMETHING CONCERNING 10:20. WE ARE ALL WANTING TO EXERCISE HOW CHINA IS GOING TO RESPOND.
TO THIS. WE DISCUSSED HOW CHINA HAD.
35 FOOD MERCHANTS. YOU'' RE GOING TO SEE MORE OF. THAT AND SOMETHING EVEN MORE DIRECT, SPECIFIC CAP UNITED STATES. TOM:. AS WELL AS PERHAPS EVEN SOMETHING LIKE TERMINATED INTENDS OF A BIDEN-XI.
CONFERENCE? PERHAPS EVEN SEPTEMBER. YOU ACTUALLY ASKED YOURSELF OF THE TROUBLE.
AND ALSO THE RAMIFICATIONS OF THIS FOR GLOBAL MONEY AND WALL SURFACE.
STREET.JONATHAN: WE ' VE BEEN TALKING ABOUT.'TOLLS MOMENTS AGO.
ALLOW ' S BE FAIR, THAT IS TAKING A.
REAR SEAT. THE VARIOUS OTHER CONCERN FOR ME, BACK IN.
SPRINGTIME, AUDIO SPEAKER PELOSI WAS DO TO VISIT TAIWAN. YES, WE GOT SOME PUSHBACK, BUT I WEAR'' T REMEMBER THIS KIND OF. UNSUPPORTED CLAIMS, I REALLY DON'' T. WHAT EXPERTS ARE INFORMING United States IS.
THAT SEVERAL OF THIS IS CONNECTED BACK TO WHAT HAS BEEN HAPPENING.
WITH UKRAINE AND ALSO HAVE CHINA HAS RESEMBLE RUSSIA AND.
INCREASED OPPORTUNITIES OF WHETHER OR NOT THIS.
WILL CERTAINLY OCCUR. AND AGAIN, THE ECONOMIC CLIMATE, BIGGER.
AND ALSO BIGGER. TOM: MICHAEL WILSON OF MORGAN.
STANLEY SCHEDULED TO BE WITH United States. THE TAIWAN PRESIDENT SITE.
UNDER STRIKE FROM 5:15 P.M. THAT IS AN AUTHORITIES, SIMPLY ONE.
OF THE DISTRACTIONS BELOW. I INTEND TO DOVETAIL FIXED REVENUE.
RIGHT INTO THE CAUTIOUS VIEW AND ALSO WE BEGIN WITH SPREAD COMPRESSION.
TODAY THAT IS EXTRAORDINARY.JONATHAN:.

EQUITIES LOWER, YIELD LOWER. I BELIEVE IT IS ESSENTIAL TO.
MOUNT IT THIS WAY. LOWER YIELDS AS WELL AS SUPPORT FROM.
LOWER YIELDS, AND AFTER THAT YOU START TO WORK OUT WHY RETURNS.
ARE LOWER. RETURNS ARE LOWER DUE TO THE FACT THAT THE.
ASSUMPTIONS HAVE FROZE IN THIS ECONOMY. AT SOME POINT, THAT IS GOING TO.
IMPACT THE REDUCED INCOMES. TOM: YOU SAW IT IN YOUR AREA,.
YESTERDAY THE IG OF IG WAS APPLE, AS WELL AS THE 40 YEAR PIECE.
WAS RUINED, 150 BASIS POINTS OVER TREASURY, AND ALSO THEY GOT.
MUCH, FAR MORE EYE-CATCHING TERMS ON THAT, TO 118.
BASIS POINTS. WHAT DOES IT SAY ABOUT QUALITY.
AND ALSO THE TAKEN CARE OF EARNINGS AREA? LISA: SOME PEOPLE HAVE SAID THIS.
COULD BE An OPTIMAL IF THEY ARE LOOKING TO OBTAIN IN AND ALSO OBTAIN.
MONEY AT THIS POINT. WHAT I WILL CERTAINLY CLAIM IS THAT YOU ARE.
STARTING TO SEE THE MARKET REVIVED ACTIVE. FIRMS OBTAINING AFTER THE RALLIES WE SAW IN JULY. JUST HOW MUCH IS IT TRYING TO ENTER WHILE THE GETTING IS GOOD? TOM: PROVIDED INFORMATION AND AFTERWARDS I WANT YOU.
TO BRING IN MARK WILSON.JONATHAN:.

EQUITIES DOWN 6/10 ON THE S&P AND NASDAQ. YOU SEE IT IN THE BOND MARKET,.
YIELDS LOWER BY A NUMBER OF BASIS FACTORS. A STRONGER JAPANESE YEN. JOINING US NOW IS MIKE WILSON, THE PRIMARY UNITED STATE EQUITY STRATEGIST OVER AT MORGAN STANLEY. OVER THE WEEKEND BREAK, YOU MADE USE OF THE.
WORD DREAM. WHY IS THAT DESIRE MISPLACED? >> > > I PUT ON ' T KNOW EXACTLY IF IT IS DREAMING, BUT THE EXPRESSION WE.
USED WAS REALLY SIMPLY TRYING TO IMPLY THAT WE HAVE THIS WINDOW.
OF CHANCE FOR EQUITY INVESTORS, WHERE FEES ARE.
BOILING DOWN AS WELL AS YOU CANISTER INTERPRET THAT PAIR VARIOUS.
MEANS. AS IF THE FED IS CLOSE TO BEING.
DONE, AND ALSO THEY ARE GOING TO HAVE THE ABILITY TO CHOICE UP THE FOR THE.
NEXT RECESSION ARRIVES, WHICH WINDOW IS ALWAYS POSITIVE.
FOR STOCKS. I THINK IT IS PREMATURE TO SAY.
THE LEAST. I ADDITIONALLY THINK THAT WHEN THEY DO. OR PAUSE, THAT GETS ON THE GROWTH.
SIDE, AND WE DON'' T GET DOGMATIC WITH THESE, BUT THEN WE RETURN TO THE FRAMEWORK WHICH.
RECOMMENDS IT IS PRETTY COMPLETE GIVEN EVERYONE DEVELOPMENT. TOM:
. WHEN YOU HAVE BEEN LEANING ON IS A DIVIDE BETWEEN SERVICE.
SECTOR EQUITIES AND ITEMS TYPE OF EQUITIES. HOW SHARP IS THE DIVIDE BETWEEN CATERPILLAR AND ALSO APPLE COMPUTER.

>> > > WELL, YOU EMPHASIZE THAT.
THERE ARE PROSPECTIVE ITEMS, THAT SOME ARE EVEN MORE EXTENDABLE THAN.
OTHERS. THIS IS THE PRECISE SAME WAY WE.
SKEWED OURSELVES MORE DEFENSIVELY. WE LIKE FIRMS THAT HAVE.
POINTS THAT YOU NEED FOR DAY-TO-DAY LIFE, THE KINDS OF.
STOCKS THAT HAVE BEEN DOING WELL. THE VOLATILITY IN THE GROWTH IS NOT THAT VOLATILE AND ALSO THEY CANISTER.
DELIVER ON THE REVENUES WHEN UNPREDICTABILITY IS GOING TO BE.
HIGHER AND ALSO FOR EVERY ONE OF THESE MATTERS THAT WE OVER-CONSUMED,.
IT IS PRETTY APPARENT THAT THAT IS PLAYING OUT.LISA:.

YOU HAVE GOTTEN THE PLAYBOOK SO WRITE THIS YEAR AND ALSO YOU ARE ENTITLED TO.
A REAL CONGRATULATIONS FOR IDENTIFYING WHERE WE ARE AND.
HOW WE SEE RALLIES. WHERE DO YOU SEE THE TRADE WHEN.
IT CONCERNS ENERGY, GIVEN THAT IT WAS JUST ONE OF THE BIG CALLS IN.
THE FIRST FIFTY PERCENT OF THE YEAR, THE INFLATION PROTECTION AT ONCE.
WHEN NOW, IT IS REALLY RAINING SPRING. >> > > THOSE ARE GREAT COMMENTS, BUT.
POWER IS ONE LOCATION WE ENTIRELY BUNGLED. I ASSUME THAT POWER NOW IS
. PRONE FROM AN EQUITY POINT OFVIEW IF YOU TAKE THE VIEW THAT A RECESSION IS ASSET.
COMPLEX TECHNICALLY IS TELLING United States IT IS NONFOOD. WE ARE SEEING DEMAND ACROSS THE BOARD. BUT THE CHARTS WEAR'' T LIE AND. THEY ARE TELLING ME THAT WHEN WE SEE THE CHARGES AND ALSO.
COMMODITIES, THEY WOULD BE NEUTRAL ON ENERGY AS WELL AS QUITE.
TRUTHFULLY, A LITTLE BIT TOO LONG NOW. LISA: HOW MUCH DO YOU TAKE A PUSHBACK.
THAT PROFITS HAVE BEEN BETTER THAN EXPECTED? YEP, THERE ARE GAPS OCCASIONALLY BUT ALSO FOR THE A LOT OF.
PART, FIRMS ARE ADJUSTING AND ALSO ADJUSTING AND MOVING ON.
>> > > A FEW OF THESE ARE TRULY PROFICIENT AT MANAGING, BUT WHAT THEY.
ARE BAD AT DOING IS FORECASTING REVENUES OVER THE.
WORST OF 12 MONTHS.IN OUR EXPERIENCE, PARTICULARLY. A MAJOR TRANSFORMING POINT. BENCH GETS LOWER, THEY DIVE.
OVER THE LOWER BAR. WE DO A RESPECTABLE TASK OF.
ANTICIPATING MACRO. IF THIS DRIP, DRIP IS GOING TO.
CONTINUE, IT WILL POSSIBLY BE EVEN MORE OF A DECLINE AS An ECONOMIC CRISIS. DON'' T GET
MESMERIZED BY THE. VERY NEAR TERM INFORMATION ON THE EARNINGS. THAT IS MAYBE BETTER ABOUT THE MANAGED NUMBERS.
YOU NEED TO TAKE THEIR OWN SIGHT. AT THESE FACTOR.
YOU TIN ' T RELY NECESSARILY ON. WHAT FIRMS ARE SAYING OR COMMUNITIES ARE SAYING. OUR SIGHT IS REALLY CLEAR, THE EARNINGS ARE GOING TO BE MUCH.
MORE NEGATIVE THAN WHAT WE HAVE SEEN THE LAST 2 YEARS. JONATHAN: WHAT DO YOU SAY BY INDIVIDUALS MIDDLE.
— ENTHRALLED BY THE BOND MARKET FILM SCENE.
— ACTION WE HAVE SEEN.

>> > > THE MARKETPLACE HAS BEEN.
INFATUATED WITH INFLATION WHEN IT CAME TO BE OBVIOUS IN THE FED,.
AS WELL AS THAT WAS REALLY THE STORY IN A Q1 UP UNTIL ABOUT MAY,.
JUNE. THAT WAS A TIME TO GIVE IT AWAY.
FROM THAT AND START REASONING ABOUT WHAT IS GROWTH GOING TO.
RESEMBLE. WE THINK IT IS A TERRIFIC HEDGE.
VERSUS THE EQUITY PORTFOLIO TODAY. JONATHAN:.
ADDITIONALLY DICTATE YOU WISH TO SHOW THIS MORNING, MANY THANKS NOW. BONDS OVER EQUITIES OVER AT MORGAN STANLEY NOW.

>> > > THERE ' S A LOT OF PEOPLE THAT.
GOT THAT RIGHT. THE CHARACTERISTICS WHEN YOU CHECK OUT.
THE BLOOMBERG DISPLAY, IT IS AMAZING TO SEE SOME OF THESE.
STATUARIES AND PARTICULARLY, THE GENERAL STATEMENT CONTOUR.
SQUASHING. OVER AT CITIBANK ON.
CATERPILLAR, HE CLAIMED THE EARNINGS WERE THERE, BUT THEY.
WERE LIGHT. I BELIEVE THAT IS WHAT MIKE.
RELATIVE MORGAN STANLEY– MIKE WILSON OF MORGAN STANLEY.
ALLUDED TO. IT IS THE HIGH QUALITY FOR THE.
CONVICTION OF IDEA OF THE PROFITS WILL CERTAINLY BE, AS WELL AS THERE IS.
ONE CRUCIAL STOCK WITH INCOMES. JONATHAN: LISA, CONTAINER WE SEE EVEN MORE OF THAT.
IN THE 2ND HALF OF THIS YEAR? LISA:.
HE THINKS PROBABLY PEOPLE ARE TOO LONG DUE TO THE FACT THAT THE GRAPHES.
DON'' T LIE AND HE SEES A TOP AND ALSO PRODUCTS AND ALSO A ROLLING.
IN THIS. THIS REALLY MOSTS LIKELY TO THE HEART.
OF THE ISSUE NOW, WHICH IS THE ONLY METHOD FOR THE FED TO.
COMBAT SUPPLY HAD BEEN DRIVEN IN VISION IS TO SUPPRESS NEED IN.
TANDEM WITH HOW MUCH PRODUCT ARE DOWN, AND WE DON'' T KNOW. WHAT THAT IS GOING TO DO, BUT IT IS GOING TO BE BEARISH FOR A. WHOLE HOST OF INDUSTRIES.JONATHAN:.

THIS MARKET REQUIRES TO CONCENTRATE ON THE DAMAGES DONE TO GROWTH IN.
THE MEANWHILE. FUTURES DOWN 6/10 OF 1% ON THE.
S&P. YIELDS LOWER BY A PAIR OF BASIS FACTORS. THE FOCUS ON POTENTIALLY.
LANDING IN TAIPEI WITH SPEAKER PELOSI ABOARD. THAT TOUCHDOWN COULD HAPPEN IN AROUND ABOUT 2 HOURS FROM.
CURRENTLY. FROM A LOVELY NEW YORK CITY,.
THIS IS BLOOMBERG. >> > > KEEPING YOU UP-TO-DATE WITH.
NEWS FROM AROUND THE GLOBE, NANCY PELOSI IS SET TO BECOME.
THE HIGHEST RANKING AMERICAN POLITICIAN TO GO TO TAIWAN IN.
25 YEARS. SHE IS DOING SO IN DEFINED THE.
CHINESE RISKS. CHINA PERTAINS TO TAIWAN AS PART OF.
ITS OWN TERRITORY AS WELL AS THE GOVERNMENT HAS VOWED THERE WILL.
BE AN UNSPECIFIED MILITARY RESPONSE TO A PELOSI CHECK OUT. HEAD OF STATE BIDEN CALLED An U.S. DRONE STRIKE THAT ELIMINATED AMONG.
THE MEMBERS OF THE 9/11 STRIKES. HE WAS THE LEADER OF AL QAEDA.
BASE ON An ELDERLY MINISTRATION OFFICIAL. 3 U.S. STATES WITH MONKEYPOX EPISODE. THE GOLDEN STATE SIGNED UP WITH NEW YORK AND.
ILLINOIS IN ANNOUNCING ITS THE RISING INFECTIONS. ROUGHLY 6000 INFECTIONS HERE IN THE UNITED STATE SECONDLY QUARTER INCOME MORE.
THAN INCREASED, BEATING ESTIMATES.AND A RECREATION TRAVEL BOOM. SECOND-QUARTER QUARTER EARNINGS BEAT PRICE QUOTES. INTERNATIONAL INFORMATION 1 DAY A DAY ON.
AIR AND ALSO ON BLOOMBERG QUICKTAKE. POWERED BY MORE THAN 2700.
JOURNALISTS AND EXPERTS IN EVEN MORE THAN 120 NATIONS. THIS IS BLOOMBERG. >> > > WHAT I EXPECT IS SIMPLY MORE. ONGOING IN THE WEEKS AND MONTHS TO FIND, THIS INCREASING.
PRESSURE ON TAIWAN, THE EXPOSURE OF ECONOMIC STRESS,.
AND ALSO WE WILL CERTAINLY SEE A FEW OF THAT IN REGARDS TO THE U.S. AS WELL, WHICH IS ACTUALLY STAYED SOLID AS MUCH AS THIS.
FACTOR. JONATHAN: AUDIO SPEAKER PELOSI REPORTEDLY.
HEADING TO TAIWAN AS WELL AS TOUCHING DOWN IN THE NEXT 2 HRS. THAT WAS THE CODIRECTOR OF THE UCL FIXATE U.S. POLITICS. FROM NEW YORK CITY CITY THIS MORNING, GOOD MORNING, HERE IS.
YOUR EQUITY MARKET. SOME RISK AVERSION OUT THERE,.
FUTURES DOWN 6 STRAINED OR 7/10 OF 1%. NO MAJOR RELOCATES RIGHT HERE. YIELDS ARE LOWER BY A COUPLE OF.
BASIS FACTORS, An EXTENSION OF WHAT YOU'' VE SEEN OVER THE
LAST. FOUR DAYS OR SO LOCATION GENERATES DOWN FIVE STRAIGHT SESSIONS.TOM: THIS IS WHAT 300,000 ANDS ALSO. PEOPLE ARE DOING CURRENTLY, CONSIDERING DISDAIN RADAR ON THEIR PHONES AND CONSIDERING THE AIRPLANE THAT. SPEAKER PELOSI IS PERHAPS ON GOING AROUND THE SOUTH CHINA. SEA. JONATHAN: THIS IS GOING TO GO FROM.
MALAYSIA, OVER THE PHILIPPINES AS WELL AS THEN IT IS GOING AS MUCH AS. TAIWAN. YOU CAN ' T SEE IT, BUT SERIOUSLY, THAT IS WHAT 300,000'. PEOPLE ARE DOING CURRENTLY, LOOKING AT AN AIR REQUIRE AIRCRAFT. JONATHAN:. I WAS DOING THE SAME POINT THIS MORNING.
TOM:. WITH THE GULF STREAM I HAVE TO HAVE IT. BECAUSE WITH THE GULFSTREAM,. YOU WAS FAMILIAR WITH WHERE YOU ARE. I ' VE BEEN LOOKING ONWARD TO. THIS ALL MORNING.
I AM DEFINITELY ATTRACTED BY. WHAT THE NEWT GINGRICH REPUBLICANS FINISH WITH THIS TRIP.UNI SAT ON THE SOFA IN 1994 IN.

ABSOLUTE SHOCK AT WHAT GINGRICH AS WELL AS THE GOP DID. WE COME ONWARD THIS SEVERAL YEARS AND ALSO THE REPUBLICAN POLITICIANS NEED TO. RESPOND TO THIS MINUTE WITH THE DEMOCRATS ARE FROM SAN
. FRANCISCO. HOW WILL THEY RESPOND? > > I BELIEVE WHAT YOU HAD IN.
U.S.-CHINA, U.S.-TAIWAN PLAN FOR YEARS NOW, I WOULD GO.
BACK TO TYPE OF THE LAST COUPLE OF YEARS OF THE OBAMA.
MANAGEMENT, A LARGE AMOUNT OF BIPARTISANSHIP PROGRESSING. YOU WILL CERTAINLY KEEP IN MIND THAT THROUGHOUT THE ENTIRE TRUMP. ADMINISTRATION, THE U.S.-CHINA PLAN, U.S.-TAIWAN POLICY WAS. VERY UNIFIED. IT CONTINUES TO BE UNIFIED. AND ALSO I EXPECT IT TO BE GOING AHEAD. THIS TRIP AS WELL AS CHINA ' S. PUGNACITY ABOUT IT ALSO OFFERS AN OPPORTUNITY FOR
THE. UNITED STATES, HONESTLY, TO CONTINUE TO UPDATE ITS CHINA.
POLICY. THE TERM ALWAYS HAS BEEN A. STRATEGIC AMBIGUITY.
JUST RECENTLY WE HAD A WHOLE LOT OF.
AMBIGUITY AND ALSO MAYBE METHOD THAT JUST OBTAINED
LOST A LITTLE. THE HEAD OF STATE UNILATERALLY BEGAN SPEAKING ABOUT DEFENDING. TAIWAN, AUDIO SPEAKER PELOSI STRIP– PETE– AUDIO SPEAKER PELOSI ' S TRIP. IS DONE CERTAINLY WITHOUT THE PUBLIC CONCURRENCE OF THE WHITE. RESIDENCE AND ALSO THERE ' S A GREAT DEAL OF INDIVIDUALS IN CONGRESS ON A. BIPARTISAN BASIS AGAIN WHO ARE PUSHING FORWARD TO
SHOT TO. UPDATE CHINA AS WELL AS TAIWAN POLICY AND ALSO WE WILL SEE HOW BIDEN GETS. ASSOCIATED WITH THAT AND WHETHER HE DOES.TOM: LET ' S IMPROVE THAT. THE LOCATIONS OF AGREEMENT OR. DIFFERENCE, IN WHICH ARE THE LOCATIONS THAT YOU EXPECT TO SEE. EXPLANATION IN THE U.S. AND CHINA PLAN, THAT YOU.
THINK WOULD BE SUBSTANTIAL FOR BUSINESS, FOR FINANCIERS AS WELL AS. TRUTHFULLY, RANKING AS WELL AS SUBMIT THAT ARE TRYING TO UNDERSTAND WHAT IS. GOING TO OCCUR? > > THAT WE START WITH COMPLETION.
I BELIEVE THERE HAS >> BEEN A TERRIFIC BENEFIT IN THE STRATEGIC. AMBIGUITY POLICY IN THE UNITED STATES, BUT THERE ' S PROBABLY. SOME ADVANTAGE IN ADDITIONAL CLEARNESS BELOW NOW, TOO. AND ALSO WHAT LEGISLATOR MENENDEZ,. SENATOR GRAHAM AS WELL AS OTHERS ARE ATTEMPTING TO ACCOMPLISH, FRANKLY, IS TO.
START An ARGUMENT ABOUT EXACTLY HOW TO UPDATE CHINA POLICY WITH.
THE CONCEPT THAT EVEN MORE CLARITY FOR THE UNITED STATES IS A GOOD.
THING.IF THERE IS EXTRA CLEARNESS,. THAT IS POSSIBLY GREAT FOR MARKETS. YOU HAVE SOME IDEA OF WHAT THE. GUARDRAILS ARE, SOME IDEA OF IN WHICH IT WILL GO AND WHERE IT. WON ' T. AND CHINA WILL CERTAINLY UNDERSTAND THAT.
AS WELL AS THE IDEA IS POSSIBLY IT WILL RESPOND
IN KIND AND ALSO THERE WILL. BE EVEN MORE CLARITY ON BOTH SIDES.
THAT MAY WIND UP BEING A GREAT. THING.
TOM: THE CONCEPT– LISA: THE SUGGESTION OF POSSIBLY LIFTING.
SOME OF THE TARIFFS ON CHINESE GOODS, IS THAT BASICALLY OFF.
THE TABLE? >> > > I THINK IT VIRTUALLY IS,.
BUT WHETHER OR NOT IT IS, THE MARKETS SHOULD NOT LOOK FOR ANY.
KIND OF MAJOR PROCEEDS TARIFFS. THE BIDEN PEOPLE HAVE BEEN.
SIGNALING THAT, FIRSTLY.SECONDLY, THEY ' VE
TAKEN A YEAR. AS WELL AS'A HALF TO REACH A PLACEMENT WHERE THEY MAY HAVE A DECISION.
IN THE FUTURE. THAT IS NOT SOMETHING THAT GOES.
WELL FOR MARKETS. CERTAINLY, ANYTHING ASIDE FROM.
ENTIRELY RAISING TARIFFS DOESN'' T SUPPLY ANY. INFLATIONARY INFLUENCE. SO MARKETS SHOULDN ' T SEEK. THAT EITHER. JONATHAN: YOUR POINT OF VIEW ON THE PROGRAM,.
THIS IS SOMETHING WE WEREN'' T REALLY CONSIDERING BACK IN. SPRING WHEN AUDIO SPEAKER PELOSI WAS CONSIDERING A MAJOR MOVEMENT.
FOR THE ADJUSTMENT. IT IS THE MODIFICATION IN THE MEANS.
CHINA WAS DISCUSSING IT, WHICH HAS ACTUALLY TRANSFORMED IN A BIG MEANS. LISA: IT IS NOT SIMPLY TALK, IT IS ALSO.
THE BUILD-UP IN MILITARY, WHAT WE'' VE SEEN IN REQUISITES OF CLAMPING.
DOWN ON CERTAIN COMMUNICATIONS WITHIN THE MAINLAND OF CHINA. JUST HOW MUCH DOES CHINA FORCE A CHANGE IN UNITED STATE POLICY? THAT COULD BE WHAT THEY ARE DISCUSSING, THIS NEED TO.
MAKE CLEAR THE TACTICAL UNCERTAINTY FOR SOMETHING A LITTLE MORE.
CONCRETE IN THE U.S.JONATHAN: IT DEPENDS UPON THE NATURE OF THE.
RESPONSE FROM THE CHINESE FEDERAL GOVERNMENT. COPS AIM, IT TAKES AN FINANCIAL TYPE. ABOUT AN HOUR AGO THIS ULTIMATELY, THIS IS GOING TO.
HER THE PEOPLE OF TAIWAN EVEN MORE THAN IT HARMS ANY PERSON HERE IN.
AMERICA. TOM: THE DISTINCTION BELOW IS THE.
CALENDAR. MOST OF US UNDERSTAND THE CLICHE.
AND ALSO MADE THE REALITY THAT THE CHINESE STARTED THE SHOW.
SPEAKING REGARDING 2049 AS A STRUCTURE FOR PRESIDENT XI, BUT.
EVEN MORE THAN THAT IS THE TEMPORARY TO GET TO THE PARTY.
OF CONGRESS IN NOVEMBER. THIS WHOLE IDEA OF CONSERVING FACE, HOW DOES PRESIDENT XI RESPONDED.
THIS? JONATHAN: CLEARLY, IT IS STRESS ABROAD. TOM: DELICACY BARELY DEFINES IT. IT IS JUST A REAL ESTATE DILEMMA, A HOME LOAN SITUATION ALONE. DAVID FITZPATRICK WITH A SUPERB.
ESSAY TODAY FROM BLOOMBERG. JONATHAN:.
BECOMING EVEN MORE DEBATABLE DAY BY DAY. THAT IS THE HOME LOAN BOYCOTT YOU TALK ABOUT, THE WEAKNESS IN.
THE ECONOMIC CLIMATE. THE CONCERNS WE DEMAND TO CONCENTRATE ON. FUTURES DOWN 6/10 ON THE S&P.

LOOKING ONWARD TO THAT, NEXT. JONATHAN:.
FUTURES ARE NEGATIVE, DOWN 6 10S OF 1%. REGARDING 2 HOURS FROM CURRENTLY, WE ARE ALL WAITING FOR THE SAME.
POINT, TO SEE IF AUDIO SPEAKER PELOSI LANDS IN TAIWAN AS WELL AS INEVITABLY,.
HOW THE CHINESE RESPOND TO THAT. FUTURES ARE UNFAVORABLE ON THE.
NASDAQ 100, DOWN EIGHT TENS OF 1%. RETURNS ARE LOWER BY FIVE BASIS AIMS CURRENTLY. WHAT A RELOCATION LOWER BETWEEN.
OF JUNE. A LITTLE LATER, WE HEAR THE.
FED SPEAK. TOM: THIS IS ALL COMING UP AT -32.
BASIS FACTORS. JONATHAN:.
JUST ALL DRIVEN BY THIS DROP-OFF IN THE TEN YEARS RETURN.
OVER THE LAST WEEKS. TOM: WE'' VE GOT A SCHEDULE OF THINGS TO.
DISCUSS. >> > > UNIMAGINATIVE PERFORMANCE,.
ABSOLUTELY NOTHING HAD BEEN ABSOLUTELY NOTHING. TOM: THERE IS A LOT HAPPENING. I DESIRED YOU TO TALK RIGHT NOW ABOUT THE PHILLIPS CURVE, THIS.
ANCIENT POINT FROM ANOTHER PERSON TIME, AND IT RELATES TO THE.
TIME OF THE FINANCIAL EXPERT AT LSE. I WANT YOU TO WEB LINK IN THE.
PHILLIPS CURVE MISCONCEPTION WITH THE RAVING DISPUTE OVER THE DRINK.
CONTOUR AND THE EFFECTIVENESS OF OUR LABOR ECONOMY.

>> > > TO START WITH, I WAS BORN IN.
THE SAME YEAR THAT TEACHER PHILLIPS PENNED HIS SHORT ARTICLE, SO.
IF THAT MAKES ME AN OLD THING FROM ANOTHER TIME ALSO. THAT CONTOUR WAS REALLY A SUMMARY OF THE LABOR MARKET.
OVER A PERIOD OF 100 YEARS OR SO AND IT WAS HIJACKED BY.
PEOPLE LIKE PAUL SAMUELS AND ALSO SOMEBODY IN THE UNITED STATE TO MAKE IT A FEAR OF INFLATION. AND IN 1968, ELTON FRIEDMAN.
CLAIMED IT IS NOT GOING TO BE STABLE. THAT WAS An EXTREMELY PUSHING.
POST. WHAT HE SAID WAS EMPLOYEES WILL.
ELEMENT IN THE HIGHER RATES, AS WELL AS THE PHILLIPS CURVE A.
FAILURE. THAT IS EXACTLY WHAT IT PERFORMED IN.
THE 1970'' S. NOW, WE ARE BACK IN AND ALSO.
ATMOSPHERE WHERE FOR THE LAST TWENTY YEARS OR SO, AND CLIENT WAS.
SO LOW THAT NO ONE TOOK RIGHT INTO ACCOUNT, AS WELL AS SO THE PHILLIPS.
CONTOUR REEMERGED.AND NOW THE QUESTION
IS HOW. MUCH JOBLESSNESS DO POLICYMAKERS THINK THEY ARE. GOING TO HAVE TO DESIGNER– TOM:
DO THEY DESIGNER IT? THAT IS THE HEART OF THE ISSUE. WHETHER ANY CENTRAL FINANCIAL INSTITUTION. ENGINEERS A LABOR ECONOMY. > > WELL, BELOW IS THE ISSUE–. THEY WANT TO CREATE SOME SLACK IN THE BELIEVING IS REALLY CLEAR. AT THE FED TODAY.
THEY WANT TO CREATE SOME SLACK. IN THE ECONOMIC CLIMATE WITHOUT CAUSING An ECONOMIC CRISIS WHICH SUGGESTS DEVELOPMENT. NEEDS TO BE BETWEEN POSSIBLE GROWTH BORDERING 1.8%, 1.9 %. EACH YEAR, AS WELL AS NO, OTHERWISE THE ECONOMY IS IN RECESSION. AND ALSO LET ' S BE CLEAR, THE ECONOMIC CLIMATE IS NOT IN ECONOMIC CRISIS. WE HAVE ANOTHER JOBS REPORT ON. FRIDAY, BUT IT IS A REALLY SLIM COURSE. THE FED IS GOING TO MAKE A. ERROR. GIVEN THAT IT HAS LET RISING COST OF LIVING. OUT FOR THE FIRST TIME IN THREE YEARS, IT IS GOING TO MAKE A. MISTAKE BY RAISING RATES EXCESSIVE.
AND ALSO THAT CERTAINLY IS GOING TO RESULT AT SOME POINT IN. ECONOMIC CRISIS. NOT IMMINENTLY, BUT AS THE. THREE-MONTH CURVE FLATTENS, THAT ECONOMIC CRISIS SIGNAL STARTS TO. ARISE WHEN WE NEAR TO ABSOLUTELY NO. I BELIEVE ENGINEERING A SOFT. LANDING SUPPORTS A BIT THE DRINK CONTOUR THE PARTNERSHIP. IN BETWEEN UNEMPLOYMENT.WE OBTAIN THE WORK INCOMES INFORMATION.

LATER TODAY WHICH OFFERS US A BRAND-NEW
READING ON JOB OPENINGS. THERE ARE PRACTICALLY TWO WORK PER OUT OF WORK INDIVIDUAL. THE DISPUTE HAPPENING RIGHT NOW IS CONTAINER THE FED DEFLATE THE. DEMAND FOR LABOR IN THE ECONOMIC CLIMATE WITHOUT PUSHING UP UNEMPLOYMENT. A WHOLE LOT BECAUSE THERE ' S A GREAT DEAL OF JOB OPENINGS AS WELL AS QUITE A RAGING. ARGUMENT GOING ON BETWEEN GOVERNOR DETECTOR AND LARRY.
SUMMERS, TRADING IMPACTS. TOM:. LISA, ENTER HERE ON THIS
HUGE ARGUMENT. LISA:. BASICALLY PHRASE THAT THE SOFT TOUCHDOWN PAPER
HAD ERRORS AFTER. THEY APPEARED AND ALSO TRIED TO PUT DOWN THE PREVIOUS PIECE. BASICALLY A TIT-FOR-TAT OF ACADEMIC JOURNALISTS. THE OTHER BIG DISCUSSION IS HOW MUCH THE FED WILL CERTAINLY HAVE TO GO TO. ENGINEER SOME KIND OF CONDITIONING IN THE LABOR MARKET, WHAT IT
. WILL TAKE.YOU HAVE SOME PEOPLE EXPRESSION WE. ARE CLOSE TO THE TERMINAL PRICE, PERHAPS, EVEN HINTING AT
THAT. AND AFTER THAT YOU HAVE THE SIMILARITIES
CREDIT RATING SUISSE SAYING EVEN MORE. LIKELY WE HAVE TO OBTAIN THE 5 %-6% DUE TO HOW ENTRENCHED SOME. OF THESE INFLATIONARY ASPECTS ARE. WHERE YOU STAND? > > THROUGHOUT LAST YEAR I WAS. ALERTING YOU THAT INFLATION WAS GOING TO BE PRESENT. WHEN WE DISCUSSED> THE FED PRODUCTION An ERROR, WE DISCUSSED. THE FED DOING INADEQUATE IN 2021, NOT TOO MUCH IN 2022. WHAT THE FED NEEDS TO DO NOW IS An EFFECT OF THE BLUNDER THEY. MADE IN 2014 BY CONTINUING TO RELIEVE, CONTINUING TO BUY PROPERTY. ALL WITH LAST YEAR AS RISING COST OF LIVING GETS. I WEAR ' T THINK POWELL IS SIGNALING WHAT THE MARKETPLACE IS.
READING TODAY WHICH IS THAT THAT IS NOT GOING TO RAISE. RATES. HE IS INDICATING REALLY MUCH THE.
BEST GUIDANCE WE CAN PROVIDE TO THE EXTENT WE CONTAINER OFFER YOU.
GUIDANCE THE FORECAST WE PROVIDED YOU IN JUNE, WHICH WAS 3.4% AT. COMPLETION OF THIS YEAR. 3.8% AT THE END OF NEXT YEAR.
CURRENTLY, IT IS A LONG MEANS FAR FROM THAT ASSISTANCE. IN JUNE, WITH MARKET VALUE IN AT AN RATE OF INTEREST ABOVE. INFLATION OF ABOUT THREE QUARTERS OF A POINT ON STANDARD. FOR THE NEXT ONE DECADE, IT HAS PRACTICALLY TAKEN OUT THAT.
SO-CALLED FAVORABLE REAL RATE OF INTEREST WHICH.
TIGHTENING UP IN THE ECONOMY.AND YET I BELIEVE THAT IS TOO.
EASY A SELECTION. EITHER THE FED IS GOING TO HAVE.
TO WALKING RATES TO OBTAIN POLICY LIMITATIONS HIGHER THAN THE.
MARKET, OR WE ARE GOING TO HAVE An EVEN MORE CONTRACTED RISING COST OF LIVING. I WEAR ' T THINK THE MARKETS ARE LINED UP IN A REASONABLE MANNER,. AND A REASONABLY LOW TERMINAL PRICE, GIVEN NOT ONLY IN THE. UNITED STATE,'BUT A GLOBAL RANGE OF THIS RISING COST OF LIVING PROBLEM.LISA:
TOSS RIGHT INTO THE MIX WHAT WE ARE SEEING TODAY WITH NANCY
PELOSI EXPECTED TO LAND IN TAIWAN IN ABOUT 2 HOURS THIS
CONCERN OF WHETHER THE SECURITY BID IS TO GO INTO SHORT-TERM
TREASURIES OR PERHAPS TREASURIES WHATSOEVER THE POSSIBLE RISE
RISING COST OF LIVING AND ALSO IF THE FED IS STILL GOING TO TRY TO COMBAT
WHAT THE MARKETPLACE IS ASSUMING IN STIPULATIONS OF A PIVOT. HOW DO YOU SEE THE FEEDBACK GOING AHEAD? >> > > I THINK THE FED HAS MADE IT
CLEAR THAT WHIPPING INFLATION IS JOB ONE AND ALSO MOST LIKELY TASK TWO
AND AFTERWARDS OTHER THINGS COME AFTER THAT TODAY TIME. IN THE LUXURY OF A FED HAS HAD IN THE COURSE TO RESPOND TO
GEOPOLITICAL EVENTS LIKE BREXIT AND ALSO TO REACT TO MARKET EVENTS
AS WELL AS TO REPLY TO THE JOBLESSNESS RATE AS WELL AS SOMEONE
WAS BECAUSE INFLATION WAS SO LOW.NOW WE HAVE INFLATION THAT IS 9.1%.
WHILE THE JULY NUMBER WILL CERTAINLY PROBABLY SHOW A LITTLE BIT OF ALLEVIATION, IT IS BY NO IMPLIES SECURED THAT WE'' VE EVEN SEEN A PEEK AT INFLATION YET. TOM: WHAT IS SO IMPORTANT, WE'' VE
GOT INDIVIDUALS DOING POLITICAL BUSINESS ECONOMICS AS WELL AS AT THE SAME TIME, WE ARE DISCUSSING CRAFTING THE ECONOMIC SITUATION AS IF THERE IS ANY PROOF WE COULD DESIGNER AS WELL AS ECONOMIC SITUATION. I LOCATE THAT INSANE. JONATHAN: GOES An ACTION FURTHER, THERE IS
CLEARLY SOME LITTLE TOBIAS YEAR WHICH IS SHAPING SEVERAL OF THE EVALUATION IN POSITION AT THE MOMENT. THE BASIC MEANS TO FRAME THIS IS SOFT TOUCHDOWN VERSUS TOUGH TOUCHDOWN. WHICH CAME ARE YOU IN EVENTUALLY? >> > > ULTIMATELY, IT HAS TO BE A.
HARD TOUCHDOWN. THE RUNWAY IS SIMPLY TOO SHORT TO.
CONTINUE WITH THE PLANE EXAMPLE ON A SOFT LANDING. GIVEN HOW NARROW THE VOID IS BETWEEN A PROSPECTIVE ECONOMIC CRISIS.
AND DEVELOPMENT AT THE ECONOMIC CLIMATE FINANCIAL CAPACITY. AND IT IS NOT THAT THE FED.
TIGHTENING UP CREATES THE RISING COST OF LIVING AS WELL AS SUCH.WHAT IT IS IS WHEN THE GENERAL PUBLIC. EXPECTATIONS OF RISING COST OF LIVING ARE BUILT IN ADEQUATELY, THOSE. ASSUMPTIONS ARE IRREGULAR WITH THE PLAN TIGHTENING UP. THE ONE EXCELLENT ITEM OF INFORMATION THAT THE FED HAS IS THAT THE. INFLATION ASSUMPTIONS FROM U.S. HOUSEHOLDS, IT IS AT 2.8%. WE DON ' T KNOW HOW GOOD THAT IS', IT IS ONLY 500 PEOPLE AS WELL AS IT. WAS AT 3.3% IN JUNE, AS WELL AS I DON ' T BELIEVE LONG-TERM. EXPECTATIONS JUMP AROUND AS LONG AS THEY DO, BUT THAT IS. THE SECRET POINT. IF THE PUBLIC BELIEVE THE. INFLATION INCREASES GOING TO BE TRANSITORY, THEN I ASSUME THE.
DISPUTE OUGHT TO BE BETWEEN A LIGHT ECONOMIC DOWNTURN BETWEEN LATE 23-24. IS IT GOING TO BE A MILD ECONOMIC CRISIS OR A DEEPER RECESSION? WE NEED TO ENJOY RISING COST OF LIVING EXPECTATIONS BECAUSE THE MORE.
ENTRENCHED RISING COST OF LIVING ASSUMPTIONS ARE, THE DEEPER.
THE ECONOMIC CRISIS. THIS IS THE PUBLIC BELIEFS.
CONCERNING HOW THE ECONOMIC SITUATION IS GOING TO UNFOLD IN THE FED PURPOSE.
OF WHAT IT IS GOING TO DO ABOUT INDIVIDUAL FEES. JONATHAN: I WOULD LOVE TO LISTEN IN.
REAL-TIME AND SEE WHAT INDIVIDUALS SAY ON THE PHONE CALLS. CAN YOU PICTURE? TONK:.
I HAVE NEVER EVER COMPREHENDED IT.HAVE THEY EVER CALLED YOU? JONATHAN: THEY HAVE NEVER CALLED ME. TOM:. THEY PHONE CALL LISA ABOUT EVERY THREE MONTHS. LISA:. I HAVE NEVER BEEN. TOM: HOW MUCH TIME? JONATHAN:. 30 SEC.
TOM: THAT LOOKS GOODER THEN PREMIER.
ORGANIZATION? JONATHAN: COMMUNITY SHIELD. LIVERPOOL FANS HAVE THOUGHT.
WELL, IT IS GOING TO BE WITH THE UPGRADE. TO THE LAST WEEKEND. TOM:.
WE BEGIN THIS SEASON PREMIER LEAGUE COVERAGE WITH JOHN AND ALSO I.
— JON AND I. JONATHAN: THE DOW, 7/10 OF 1%. WE DELAY TO SEE IF SPEAKER.
PELOSI TOUCHES DOWN IN TAIWAN. >> > > RETAINING UP-TO-DATE WITH INFORMATION FROM WORLDWIDE, CHINA.
IDENTIFIED HAVE NANCY PELOSI IS EXPECTED TO COME TO BE THE GREATEST.
RANKING U.S. POLITICAL LEADER IN 25 YEARS TO GO TO.
TAIWAN. CHINA HAS REGARDING UNSPECIFIED.
ARMED FORCE FEEDBACK, CLAIMING TAIWAN IS PART OF ITS OWN.
TERRITORY. THE U.S. CALLS AND—- CALLS IN A.
STRIKE ON A LEADER OF THE 9/11 STRIKES. BRITTNEY GRINER BACK IN COURT.
AFTER HER TRIAL FOR CANNABIS PROPERTY. CLOSING DISAGREEMENTS ARE COLLECTION FOR THURSDAY. IF CONVICTED, SHE COULD FACE TEN YEARS BEHIND BARS. RUSSIA HAS MADE A BAD FAITH.
FEEDBACK IN THE EXCHANGE FOR A RUSSIAN ARMS DEALER. TORONTO DOMINION IS GOING UP ITS EXISTENCE IN THE AMERICAN.
CAPITAL MARKET JUST MONTHS AFTER AGREEING TO EXPAND RETAIL.
PROCEDURES IN THE U.S.CANADA ' S SECONDLY LARGEST FINANCIAL INSTITUTION. HAS AGREED TO$ 1.3 MILLION IN CASH MONEY. RISING GAS EXPENSES IN THE. 2ND QUARTER, 89
%. A BRAND-NEW COST REDUCTION PROGRAM.
WITH $50 MILLION ANNUALLY BY 2024. GLOBAL INFORMATION 24-HOUR A DAY ON AIR AS WELL AS ON BLOOMBERG QUICKTAKE. POWERED BY GREATER THAN 2700 REPORTERS AND ANALYSTS IN.
EVEN MORE THAN 120 NATIONS. >> > > YOU TIN NOT PRICED IN THE.
SAME FED THAT WE HAD IN 2018. YOU CAN'' T VALUED THE SAME.
RESPONSE FEATURE. AT THE FIRST INDICATOR OF WEAK POINT,.
AND WE ARE CURRENTLY SEEING THAT, THE FED IS NOT GOING TO BE ABLE.
AHEAD INTO THE RESCUE OF RATE HIKES WITH THE SAME VERSATILITY.
THAT THEY WOULD HAVE WHEN WE HAD RISING COST OF LIVING– TOM:.
I ENJOYED THAT CONVERSATION TREMENDOUSLY, THE WASH THAT IS.
OUT THERE, ROUGHLY AN HR AS WELL AS A FIFTY PERCENT FROM POSSIBLY A PELOSI.
HISTORIC MOMENT IN TAIWAN.RIGHT NOW, A PREVIEW. LISA:. THE FINANCIAL IMPLICATION OF THIS TRIP TO TAIWAN. PARTICULARLY. CHECKING OUT A LITTLE OF A. WONKY GRAPH, SHIPPING AS WELL AS TRANSPORTATION INDEX. BASICALLY, THE INDEX MEASURES THE RETURN OF THE. TRANSPORT INDUSTRY ESPECIALLY
IN THE TAIWAN. STRAIT. FOR THOSE OF THE TARGET MARKET. UNFAMILIAR, IT IS OF PROGRAM BETWEEN THE UNITED STATES AND ALSO. CHINA. 80% OF THE GLOBE ' S LARGEST. DELIVERY GO THROUGH BELOW.
IT IS A SUPPLY NETWORK BUT. NEVER RECUPERATED.
WE ARE CONSIDERING A GRAPH THAT. RETURNS REGARDING 2 YEARS, AND ALSO YOU TYPE OF SEE THE STAGNANCY. ONE LOOKS REALLY SIMILAR, BUT STARTING ABOUT A MONTH AGO,. THIS INDEX DROPS, AND ALSO IT REALLY COMES FROM ALL THESE INCREASED. TAIWAN TENSIONS, THE SUGGESTION BEING THAT IF YOU BEGINNING TO SEE. ARMED FORCE ACTION, THERE IS An EXTREMELY ACTUAL FINANCIAL PRICE. TOM:. IS A PRETTY TYPICAL GRAPH
. THANK YOU SO MUCH, GREATLY. APPRECIATE THAT.
RIGHT NOW, THIS WONDERFUL. PODCAST AND NATURALLY,
THIS WRITING TOO. I INTEND TO TALK YOU ABOUT THE. EXCITEMENT OF THE NASDAQ POP OF 16% OFF THE BASES AND ALSO WE CONTAINER. ANNUALIZE IT WITH SO MUCH TALK THAT WE DO CONSTANTLY, 242 %. ANNUAL RETURN OFF THIS LISTING.
HOW DO YOU BEHAVIORALLY MANAGE. OWNERSHIP OF EQUITIES WHEN YOU OBTAIN A
— LIKE THAT, BUT YOU ' VE. GOT TO SPEND FOR LASTING?
> > I DISLIKE THE ANNUALIZE. APPROACH> SINCE IT DOES NOT HAVE CALMNESS. UP 15%, SIMPLY ASSUME OUT A LITTLE LITTLE BIT AND ALSO SAY DOWN 33 %SO. PERHAPS WE HAVE IMAGINED ALMOST FIFTY PERCENT OF THE LOSSES.
NOW ANNUALIZE WHERE WE ARE YEAR TO DATE.IT IS NOT FANTASTIC. YOU HAVE TO RECOGNIZE THAT THE.

FLIPSIDE OF INCENTIVE IS RISK WHICH MARKETS GO UP AS WELL AS DOWN. I BELIEVE 2021 MADE A WHOLE LOT OF PEOPLE, ESPECIALLY SEVERAL OF THE. ROBINHOOD INVESTOR THINK THE REDDIT WALL SURFACE STREET TEAM THINK. THAT IT IS EASY, JUST BUY A SUPPLY THAT IS GOING UP, WILL. ROGERS TOLD YOU IF IT DOESN ' T INCREASE, DON ' T GET IT. LISA':– TOM: LISA, JUMP IN RIGHT HERE. THE VARIOUS VIEWPOINTS THAT WE ' VE GOTTEN HERE ON THE EQUITY'. MARKET, IT IS A FOREST.
LISA: I WAS SIMPLY BELIEVING IT IS EASY,. SIMPLY BY WHEN IT IS HOT AND
SELL IT WHEN IT IS HOT. IN ALL SINCERITY, WE ARE LOOKING AT An ACTUAL WASHOUT IN SOME.
ABILITIES. I AM WONDERING JUST HOW MUCH THAT IS.
GOING TO ASPECT INTO WHAT HAPPENS NEXT, ESPECIALLY.
VIA THE LESS LIQUID ELEMENTS OF THE MARKET. I'' M THINKING WITH PRIVATE EQUITY THAT HAS NOT YET BEEN.
WRITTEN DOWN, AS WELL AS AFTER THAT THE SIMILARITIES JUUL, 88 PERCENT CHARGE.
TO AN EXAMINATION, WHAT IT REALLY REFLECTS A FEW OF THE.
SHENANIGANS THAT HAVEN'' T BEEN TRACKED IN MARKETS THAT ARE.
MUCH LESS VISIBLE.

>> > > THAT IS THE CHARM OF.
CHOICES. THIS CONSISTS OF EQUITY CAPITAL,.
PRIVATE EQUITY, EVEN FARMLAND. YOU DON'' T GET A PRINT EVERY. SPLIT SECOND, YOU GET A QUARTERLY AUDIT FOR SOME.
PORTION OVER THE PROGRAMS OF THE YEAR. EVERYTHING IS UPDATED, BUT THAT LACK OF DAILY RATE RANGE, IS.
THE EXACT SAME THING WITH YOUR HOUSE YOU RESIDE IN. YOU PUT ON'' T OBTAIN A RATE EVERY EARLY MORNING, EVERY HR, DAILY',. AND ALSO SO YOU DON ' T REALLY FOCUS ON RATES THAT ARE.
NOT RELEVANT UNTIL YOU ARE MARKETING. THERE IS A WELL-UNDERSTOOD PRINCIPLE OF A PREMIUM. SINCE YOU WEAR'' T REQUIRED DAILY LIQUIDITY, YOU GET A BETTER. RETURN FOR SOME OF THESE ALTERNATIVES, AND ALSO THE BRIGHT SIDE.
IS YOU WEAR'' T SEE THESE ALL THE TIME.THE PROBLEM IS
WHEN THEY. ACTUALLY MARK THEM TO MARKET, AND A TYPICAL COMPANY WILL CERTAINLY DO. CONCERNING 25% OF THEIR HOLDINGS EACH QUARTER, SO EACH YEAR YOU. OBTAIN A WHEN A YEAR PRINT AND ALSO OFTEN IN A YEAR SUCH AS THIS. YEAR, YOU SEE A BIG MARKDOWN. I DON'' T KNOW ABOUT 88 %. LISA: THAT WAS HAVING TO DO WITH THE.
EXAMINATION, BUT THE POINT, AS WELL AS I JUST INTENDED TO HIGHLIGHT.
THIS, WHEN SOMEBODY IS TRYING TO PREPARE A PROFILE, A YEAR.
AGO, 2 YEARS AGO, LIQUID WAS BETTER. GO INTO PRIVATE EQUITY, GO INTO ALTERNATIVES. THAT IS WHAT EVERYONE WAS SAYING. IS THAT CHANGING? ARE PEOPLE SAYING INDEX FUND.
WITH LIQUIDITY IS BETTER AT PERHAPS LESS LIQUID PROPERTY.
COURSES DUE TO THE FACT THAT OF THE LACK OF EXPOSURE AS WELL AS THE ABSENCE OF THE.
EASY LEAVE? >> > > SO I AM REMINDED OF THE.
WORDS OF THE GREAT INVESTOR GROUCHO MARX WHO SAID I WEAR'' T. NEED TO BELONG TO ANY CLUB THAT WOULD HAVE ME. AND TO SOME LEVEL, WHEN WE LOOK AT ALTERNATIVES AS WELL AS TREATMENT TOO TO PRIVATE.
EQUITY, THEY TEND NOT TO BE TOP-PERFORMING FUNDS.IF YOU HAVE$ 1 BILLION IN YOUR. WELL-CONNECTED, I TIN GET YOU INTO THE LEADING PILE, BUT MANY. INVESTORS DON ' T HAVE GAIN ACCESS TO TO THAT, THEREFORE YOU END UP IN A. CONDITION WHERE YOU CAN TREAT THE COSMOS LIKE YOU CONTAINER. THE MARKETPLACE FOR STOCKS OR BONDS. YOU WIND UP WITH A VERY FATHEAD,. LONG TAIL OF A HANDFUL OF ALPHA
GENERATORS AND ALSO An ENTIRE GREAT DEAL OF. PRICEY UNDERPERFORMERS
. TOM: I REACHED LEAVE IT THERE, THANK. YOU A LOT. THE EQUITY MARKET, QUICKLY ON. THE MARKETPLACE, TO SEE TWO SPREADS PRINTING A -32 BASIS POINTS, THAT IS A SPECTACULAR 150 8. LISA: AND IT IS LED BY THE LONG END. PEOPLE STACKING INTO LONGER-TERM TREASURIES. A FAITH IN THE FED, AT THE STATE IN THE FED WILL CERTAINLY BE GOOD.
FOR EQUILIBRIUM, BUT NOT SO MUCH FOR SUPPLIES MOVING FORWARD. A HINT OF THAT SLOW DOWN THAT A WHOLE LOT OF INDIVIDUALS ARE PARTICULAR TO.
TALK ABOUT.TOM:.

I ASSUMED AT THE END OF THE DAY IN ALTHOUGH WE HAVE COVERED.
RIGHT HERE, CENTINELA OUT OF TAIPEI, OUR WONDERFUL BUREAU CHIEF,.
8 KINDS OF MANDARIN, EXTREMELY WELL-INFORMED,.
AS WELL AS I DON'' T KNOW WHAT TO CONSTRUCT FROM THIS COMMENT. SPEAKER PELOSI IS COMING, EXCELLENT. I WEAR'' T KNOW WHAT TO MAKE FROM IT. LISA: LISA: THEY DIDN'' T ASK FOR IT AS WELL AS
THEY. DON ' T SEEM THAT CONCERNED IN REQUISITES OF CHINA'' S CAPACITY.
REVENGE BUT AT THE SAME TIME, THE RISK OF THE.
ECONOMIC RAMIFICATIONS IS SIGNIFICANT FOR AN ISLAND THAT.
DOES DEPEND UPON CHINA AND THEIR FINANCIAL EXPORTS. TOM: WE WILL SEE, WE ARE SURVEILLANCE.
THE PLANE AS WELL AS WE WILL CERTAINLY HAVE INSURANCE COVERAGE OF THIS ON BLOOMBERG.
TELEVISION AS WELL AS BLOOMBERG RADIO. PLEASE STICK WITH US. TEACHERS, -28. THIS IS BLOOMBERG, GREETINGS
.

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