back telling financial group david mckelvey me david thank you for being with us today let's start with the overall markets what are the moving targets here they struggled earlier in the day they're picking back up this tuesday afternoon. you know i think the everything bubble continues i mean you still have $120000000000.00 in liquidity that's coming into the market every month of course you have the bolstered hopes of a return to normal postcode that's certainly helpful but we are at levels that are far above where we were prepared demick so the central banks of the world have fed the melt up dynamics by other asset purchases and that 120000000000 monthly is in line with what the e.c.b. is doing the bank of japan continues to intervene directly and so you know the markets are are really more of a casino in this environment i would describe as a speculative mania 7 and a half $1000000000.00 came into high yield in investment grade debt last year there's no concerns about valuations there should be $770000000000.00 in margin debt borrowed from the house because people are so sure they c

of the mckelvey any financial group david always nice to have you on the show and today we're hitting the oil sector pretty hard brant crude and they both jumped higher due to what we just talked about but as well as the texas freeze that has slashed total u.s. oil production by as much as 40 percent but now this is turning into a global problem how will opec benefit from this texas deep freeze. yeah the impact is pretty short term i think it does illustrate how interconnected and interdependent our system is and that includes the electric grid our energy supplies even data services everything now. any energy speaking broadly about oil and gas infrastructure is damaged and supply takes longer to bring back on stream and then you've got saudi sort of the self described guardians of the industry who will bring back their capacity sooner rather than later he mentions that that's scheduled for april after the surprise cuts of a 1000000 barrels per day in january but i think one of the things that underscores even more than opec in underscores the power of saudi arabia and now many analyst

history so joining me now to discuss it all is david mckelvey nice of the mcelwain a financial group now david let's start with oil here it's now estimated that as a result of the production freeze texas likely lost between 18000000 and 40000000 barrels of oil what kind of a long term impact are we looking at here. right great question i think the long term impact from the freeze is minimal the real impact was last year when we had the rig count get decimated and so what we really saw as a definitive 2021 event was recalibrating for us production. we continued to expand we got to the point where we were exporting oil not importing and that net export profile that may not ever return certainly not under the current administration and to me that is a bigger long term impact what happened as a result of coal it and the production shut ins in 2020 than the temporary freeze that we've seen in the last week or so so this is just another hit that the country seems to be taking after and are reading along here now at the same time we've seen a lot of optimism when it comes to oil prices bounc

is moving markets and the latest economic news that we're going to bust co-host christy i and david mckelvey any c.e.o. of the mckelvey any financial group thank you both for joining us chrystia i want to start with you i was the market responding to this new proposal that we're seeing from republicans. well right now it's just looking like another round of political theater but at least it's moving in the right direction where the market is concerned in terms of offering more stimulus more quickly so u.s. equities are out as investors saw improved prospects for president by a $1.00 trillion dollars package after he met with senate republicans to discuss their scaled back plan so it's currently looking like biden is not willing to settle and compromise for coburg relief package that quote fails to meet the moment as the u.s. continues to be the worst affected by this and the effect so the 618 blind eye package is scaled back as you mention and biden responded that there were many areas that the package failed to address and while there was this exchange of news there's still this very wide g

all institutional investors i'm sitting on the sidelines right now co-host christi and david mack of any of the mckelvey financial group thank you both for breaking it down for us today thank you ken. time now for a quick break but hang here because when we return the code 19 pandemic continues to weigh heavy on economies around the globe and the e.u. is no exception as it saw a major contraction in 2020 straight ahead we analyze the numbers and how europe is grappling with the ongoing outbreak and as we go to break here are the numbers of the close. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being that. direct. what is true what's his face. in the world corrupted you need to descend. to join us in the depths. or in may when the shallowness. i'm going to learn how to know that and. not know that at the. end of the night of the money that they are planning to me. this was a good time to. try to move their. son that was funny not why not. why won't people we believe in. not of i can say they're no