jack otter: torsten slok, you packed a lot in. thanks for being here.announced production cuts this week. what it means at the price at the pump, that is next. at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ why are 93% of sleep number sleepers very satisfied with their bed? maybe it's because you can adjust your comfort and firmness on either side. your sleep number setting. to help relieve pressure points and keep you both comfortable all night. save $1,200 on the sleep number 360 i10 smart bed. only for a limited time. sfx: [alarm] every day you get to choose. do i want more? can i grow stronger? can i get better? bodyarmor lyte. more than a sports drink. my relationship with my credit cards wasn't good. i

jack otter: torsten slok, you packed a lot in. thanks for being here.pec announced production cuts this week. what it means at the price at the pump, that is next (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when our clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. the virus that causes shingles is sleeping... in 99% of people over 50. and it could strike at any time. think you're not at risk? wake up. because shingles could wake up in you. if you're over 50, talk to your doctor or pharmacist a

jack otter: torsten slok, you packed a lot in. thanks for being here.nounced production cuts this week. what it means at the price at the pump, that is next i got into debt in college, and no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with low low fixed rates, and borrow up to $100k. sofi get your money right. at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hr today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ ♪ ♪ do the work, before the work. bodyarmor lyte. more than a sports drink. if lawn care were easy, everyone would do it... as well as trugreen does it. trugreen's online tools help ensure your custom treatment works to deliver a greener, healthier lawn - guaranteed. it's time to trust your experts at trugreen. go online today! - i'm fernando, i live outside of boston. i've been with consumer cellular for five years. consumer cellular gives you all the same features that t

jack otter: torsten slok, you packed a lot in. thanks for being here.ced production cuts this week. what it means at the price at the pump, that is next liberty mutual customizes your car insurance so you only pay for what you need. with the money we saved, we tried electric unicycles. i think i've got it! doggy-paddle! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ whenever heartburn strikes, get fast relief with tums. its time to love food back. ♪tum, tum tum tum, tums♪ ♪ the all-new chevy colorado is made for more. bring more. ♪ do more. ♪ see more. ♪ and be more. ♪ the all-new chevy colorado. made for more. ♪ a ballet studio, an architecture firm... and homemade barbeque sauce. they're called 'small businesses.' but to the people who build them there's nothing 'small' about them. that's why at t-mobile for business... you'll save more than $1,000 versus verizon. and with price lock guarantee, we'll never raise your rate plan. so you can keep your focus on toe-turns and making sure the sauce is extra spicy. at t-mobile, there a

coming up, torsten slok, apollo management partner and chief economist joins us at 2:00 p.m.time. this is bloomberg. ♪ kailey: let's get back to one of our questions of the day. does the banking crisis and with first republic? first republic shares up about 10% in this thursday session, after falling more than 90% so far this year. sally bakewell has been following the story and leads a refinance coverage and she is with us now. the question surrounding first republic frankly remains the same. is this bank going to be rescued and by whom? do we have a clear answer on that and if it is not rescued by anyone, what happens? sally: we don't have a more clear answer but we do know the bank is in a jam and needs a rescue and any rescue needs to involve a bigger bank or a number of bigger banks but they are reluctant to throw what is seen as drawing more good money after bad because they have already injected $30 billion without government assistance. the issue is the government does not want to swoop in and save the bank because that would require it to take a big hit to its deposi

torsten slok says maybe there are 20 ideas. how do you find the 21st security to own. select -- it is difficult to do stock selection. >> the last couple of weeks you have seen a more definitive bias. it may seem obvious, but interest coverage. seconded that would be strength of profit -- second to that would be strength of profit margins. it is who can maintain profit margins. now we are going to see who has got the pricing power, and who can cover that interest. you can apply factor-based screening across the spectrum of markets. too many people think you have to start with a sector and then apply screening within. you can find value characteristics or factors within stocks in areas that may be perceived as just a growth area. tom: what you just heard there, folks, bottle. this is out of the massachusetts institute of technology one million years ago. i cannot say enough about the need to go cross sector in analysis within sector. this is gospel for me. i'm going across sectors. what do i want to avoid? >> you want to avoid to some degree the opposite. you want to av