michael nathanson. michael nathanson. ♪ explore endless design possibilities. style.. textures and styles. it's possible. with james hardie™. >> we are seeing the turning point in global monetary policy. >> we are staring down the barrel of what is probably sluggish economy for quite some time. >> you are seeing investors be -- beginning to entertain the idea that maybe a soft landing isn't a guarantee. >> the fed's job now is much more, katie. -- is much more complicated. >> this is bloomberg surveillance with tom keene, jonathan ferro, and lisa abramovitz. tom: the nasdaq heading for a -1% to start the morning, a little bit moldy. awfully employed america maybe claims. jon: a bit of tension in the economic data and conflict between the beige book which signaled a slowdown. compare that with the ism that came out yesterday which was booming and pretty decent and strong and that pushed yields higher in the two year back on 5% -- and the two year back at 5%. seemingly at the moment, rate hikes our own eyes. tom: we are warren by -- warrene out -- by all sorts of ideas.

jonathan: michael nathan see, the citi analyst -- nathanson, the citi analyst.scriptions sort of his last publicly stated 2024 target. equity futures still positive by zero point on s&p. 10-year yield dropping a few basis points to 4.32. in the fx market, the euro is positive 1.0658. coming off how bad things look in the ecb in the euro side. tom: time is wrong. that is a new one. this eplus -- disney plus analysts of crows. it is a pixar movie. lisa a: it didn't do that well. tom: seth rosen wrote in and said tom, you are wrong. the eight-year-old cohort is still watching this eplus -- watching disney plus. we seriously still don't know when the president will speak right? jonathan: i'm not sure if the president knows what time it will be. tom: the impractical issues bob iger faces. geetha ranganathan from bloomberg intelligence. this is about fancy companies flying in fancy mckinsey people, the strategist to save the day. what would strategists say this morning to mr. iger? let's pick on mckenzie. kinsey media shows up. what do they say to the leader of disney

the power of youtube and especially youtube tv. 1.5 months ago, influential meeting analyst michael nathansonargest media company? he put it out that if youtube treated it as a sustainable media company would already be the third-largest player in the space based on 2022 revenue with by far the most advertising revenue. overall, they just see youtube tv dominating the online cable business. looking at the sales and margins, he pegged the evaluation at $142 billion! we don't pay enough attention to it because it is a $1.7 trillion business, but youtube can already go toe to toe with anybody in the entertainment industry. then just this week, a separate valuation was published. i think she is wrong on this, but i will give you the number. she says it is worth $400 billion. of that, she thinks youtube tv is worth $84 billion without sunday ticket but she says that adding that money to the business, i think some of these analysts make compelling arguments. but youtube has become an increasingly big part of the bull case for alpha. i think the move to a subscriber-based business model only acceler