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Aug 21, 2024
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torsten slok of apollo.more on that debate in the next hour on "bloomberg surveillance" and this moving target. up by more than 14%. up next, seema shah of principal asset management, libby cantrill , and anders persson. from new york, this is bloomberg. ♪ >> what you expect the federal reserve to cut in september. >> it's about how quickly they get to neutral and were neutral is. >> we cannot sustain the race without being susceptible to a slowdown. >> we don't have a lot of experience with soft landings. >> they guided us to a feathery soft landing. just don't mess it up. >> this is "bloomberg surveillance," with jonathan ferro, lisa abramowicz and annmarie hordern. jonathan: the second hour of "bloomberg surveillance" starts right now. let's start with your scores equity futures positive, bouncing back from yesterday's losses. the nasdaq up by .2%. the russell and small caps up by .6%. your day ahead, some fed minutes at 10:00 a.m. eastern time. revisions to payrolls for the month of march. we are looking
torsten slok of apollo.more on that debate in the next hour on "bloomberg surveillance" and this moving target. up by more than 14%. up next, seema shah of principal asset management, libby cantrill , and anders persson. from new york, this is bloomberg. ♪ >> what you expect the federal reserve to cut in september. >> it's about how quickly they get to neutral and were neutral is. >> we cannot sustain the race without being susceptible to a slowdown. >> we...
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Aug 23, 2024
08/24
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. >> michael, how does your view rhyme with torsten if at all, and what does it mean for the stock market>> well, i think it's a very bifurcated backdrop still, and i think we're seeing more weakness creep up from the bottom half than strength trickle down from the high-end consumer or businesses. so, you know, i think we can corroborate all this macrodata, which i think, you know, there's a enough strong data and enough weak data to pick your own narrative, but if you look at the earnings data, and particularly mid cap and small cap stocks, the most economically sensitive groups, their estimates continue to fall. in fact, estimates for this year are now below realized earnings of 2023, and 2025 earnings are also continuing to come down. that said, large cap stocks, which have certainly been the strength of the market, their earnings continue to remain resilient, and they will be the last to fall and won't fall until we really see a more -- a bigger decline in the labor market. >> and that's what we're seeing, torsten, to push back on your view. unemployment rate is up. job openings are d
. >> michael, how does your view rhyme with torsten if at all, and what does it mean for the stock market>> well, i think it's a very bifurcated backdrop still, and i think we're seeing more weakness creep up from the bottom half than strength trickle down from the high-end consumer or businesses. so, you know, i think we can corroborate all this macrodata, which i think, you know, there's a enough strong data and enough weak data to pick your own narrative, but if you look at the...
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Aug 1, 2024
08/24
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torsten may still be right.ral banks taking action, the fed will be the one left out. we do not spend a lot of time with or obey rate cut or two. -- whether it will be one rate cut or two. lisa: we will just break up the whole show and for the rest of the year talk about apollo. [laughter] jim: we are here to talk about it and it is a great story and a lot of topics. our private equity business was incredibly active on offense. five transactions in the last month. from our perspective a lot going on. jonathan: this was perfect. it was good to see you. up next, the barclays ceo. ♪ (♪♪) (♪♪) (♪♪) (♪♪) sandals rhythm and blues caribbean sale is now on. visit sandals.com or call 1-800-sandals. jonathan: two hours away from the opening. equity futures positive across the board. on the nasdaq up .6%. on the s&p closing out yesterday for the biggest day of gain since february. switch up the board. yields look like this. yields higher up two basis points. dropping about 50. about 50 basis points for the month of july. j
torsten may still be right.ral banks taking action, the fed will be the one left out. we do not spend a lot of time with or obey rate cut or two. -- whether it will be one rate cut or two. lisa: we will just break up the whole show and for the rest of the year talk about apollo. [laughter] jim: we are here to talk about it and it is a great story and a lot of topics. our private equity business was incredibly active on offense. five transactions in the last month. from our perspective a lot...
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Aug 22, 2024
08/24
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and that is really for all the families ramping up the pressure on the israeli government together, torstennd that was something president biden and kamala harris put to prime minister netanyahu in that phone call overnight, the need to get the talks done and concluded according to the white house, saying that there were expected to be a big round of peace talks coming up in cairo now that have been floated last week as something that would happen either thursday or over the weekend. at the moment, i have to say there's no indication that those big peace talks summit to get this over the line is going to happen kara, or anywhere, anytime soon hamas is yet to say whether or not they agreed to the u.s bridging proposal. all indications so far, is that they are objecting to it and may well give it may well give it a complete rejection and here in israel prime minister netanyahu already contesting and his office kentucky as thing elements that secretary of state, anthony blinken thought israel had agreed to the withdrawal of all israeli troops from along the border with gaza. the so-called phil
and that is really for all the families ramping up the pressure on the israeli government together, torstennd that was something president biden and kamala harris put to prime minister netanyahu in that phone call overnight, the need to get the talks done and concluded according to the white house, saying that there were expected to be a big round of peace talks coming up in cairo now that have been floated last week as something that would happen either thursday or over the weekend. at the...
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Aug 12, 2024
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apollo, torsten slok has been on this thing the market is too excited ate rate cuts and everything isollo the weekly debit and credit card spending, this is a consumer driven economy. >> there was a lot of concern about travel related spending. we talked about that whether disney parks which can be expennive, whether it was airbnb or expedia, things seem to be tra dratsing a bit. >> that should be expected. hot coming out of covid. pent up demand. people prioritized. we've had a few quarters, years really, to digest high inflation rates, high interest rates, which do have an impact on the consumer, it would be normal for things too cool off. something i will be looking for in the cpi report how tells prices because they factor into shelter and could put downward pressure on that overall number. looking for a 0.2% read overall. we're monitoring the turn, right, david, and the fed needs to be ware of the turn and the economy and get ahead of it and why the market has been throwing a fit, they haven't been too anticipatory because of the turn in the economy and plenty of charts you can l
apollo, torsten slok has been on this thing the market is too excited ate rate cuts and everything isollo the weekly debit and credit card spending, this is a consumer driven economy. >> there was a lot of concern about travel related spending. we talked about that whether disney parks which can be expennive, whether it was airbnb or expedia, things seem to be tra dratsing a bit. >> that should be expected. hot coming out of covid. pent up demand. people prioritized. we've had a few...
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Aug 8, 2024
08/24
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torsten slok out with a note saying more visas are being accepted, there's is been a covid backlog and argument not right? david: the argument is partially right but the reality is the statistical unemployment rate comes from the household survey, not the payroll survey. the reality is there has been no growth in job creation in the household survey over the last 12 months. what the data show is 96% of those people, and i'm sure a lot of them are immigrants, 96% of the people that enter the labor force in the past year have not found a job. i would pose the question back to you, does that sound like a point labor market as far as you are concerned? this time last year 96% of labor force entrance were finding a job. only 4% now are finding a job. it is not just about labor supply. it is not just about firings or layoffs, which remain very low. companies are still hoarding labor. they are cutting the workweek and furloughing workers from full-time to part-time. when you go from full-time to part-time is not job loss so you do not collect unemployment. there are decisive shifts taking pla
torsten slok out with a note saying more visas are being accepted, there's is been a covid backlog and argument not right? david: the argument is partially right but the reality is the statistical unemployment rate comes from the household survey, not the payroll survey. the reality is there has been no growth in job creation in the household survey over the last 12 months. what the data show is 96% of those people, and i'm sure a lot of them are immigrants, 96% of the people that enter the...