. >>> ahead on "worldwide exchange," the one word every investor needs to know scott ladner lays outhe is looking for with overseas investment and portfolio protection as investors face a growing wall of worry. >>> reminder, follow our podcast. if you miss "worldwide exchange" check us out on your podcast apps "wex" will be right back after this (neighbor) i got that deal too. (seth) oh hey, bragging buddies! (neighbor) my man! (cecily) this i don't need. (seth) you should give me a call! (vo) visit your verizon store and save big during our spring savings event. get the disney bundle with disney+, hulu, and espn+ included. all for just $35 a line. the savings you want. on the network worth bragging about. verizon ♪ old school wisdom, with a passion for what's possible. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ >>> welcome back time for what we call the "wex wrap-up. softbank te

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scott ladner is our market guest of the hour joining me on set. scott good to see you.hanks for keeping me company here. you say we're in a deflationary environment. yes, inflation is coming down, maybe it peaked, but we're not near 2%. >> no. i think deflation is probably not the right word. we're certainly in disinflation. we have seen the interest rates and the inflation. the path is pretty obvious. really what we're debating is how quickly can we get inflation down and that's really going to depend on how quickly the job market can soften. lauren: well, well, we've got the jolt report and there are 10.1 million jobs that are open. that is not disinflationary. >> no, and look companies still need to hire and there is a little bit of question about how good those data are with respect to the jolts data. at least our company sometimes we put up a job posting, and we'll just leave it open because you don't know how long it takes to get somebody and so i think that's probably happening across a lot of industries because it was really hard to get workers. we do feel like

joining me now is horizon investment chief investment officer, scott ladner.his performance, nasdaq is up 17% year-to-date. >> yeah, look, this year's performance so far, maria, frankly looks like kind of a reverse of last year. last year we had inflationary pressures and rising rates and those rising rates have a really, really poor impact on multiples. and so highly multiple companies can, high pe companies like those in the nasdaq got disproportionately badder last year. this year it's disinflation and rates coming back down again. we're getting rerating, multiples back up and biggest beneficiaries are the same nasdaq companies. maria: do you think markets will start to react to these debt ceiling negotiations? >> i think they have a little bit. it's a bit under the covers so far. we think we would be a lot higher than otherwise -- than we are right now if we didn't have this debt ceiling nonsense sort of in front of us, acting as a wet blanket on markets. it's really tough to get super aggressive on the risk taking side if you're a money manager with this