Chinese Tech Continues to Get Battered and Eviction Moratorium Remains

Real Vision: Finance & Investing

Real Vision

News, Business News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 21 August 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Aug20,2021: Real Vision senior editor Ash Bennington welcomes Michael Green, chief strategist and portfolio manager at Simplify Asset Management, to discuss the day’s price action as well as Green’s thoughts on Chinese tech and the eviction moratorium in the U.S. With Chinese tech companies listed in the U.S. set to have their worst declines in more than a decade, Green explains his perspective on what China’s clampdown means for the sector. He also tackles the Biden administration’s intention to continue the latest eviction moratorium while rental assistance makes its way to tenants and landlords as well as what this may indicate about the health of the economy. Drop your questions for Michael here on the Exchange: https://rvtv.io/2WaEfol Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Real Vision Daily Briefing. It's Friday, August 20th, 2021. I'm Ash Bennington,
0:15.2	joined today by Mike Green. It's been a while since we've had Mike here. I'm really looking forward
0:20.0	to this episode. The markets looks like everything. A lot of green on the screen today when you look at
0:25.8	indexes, the big winner on the day, the NASDAQ, up one spot, one nine percent, almost 1.2 percent,
0:32.0	closing out the day, 14,714. S&P 500, up about eight tenths of one percent, closing out the day,
0:43.3	4,441. Looking out across the week, week to date, looks like the big loser is the Russell 2000 off
0:53.0	2.75 percent on the week, Russell 2000 down, about 2.3 quarters percent on the week. Also, China
1:02.1	has passed a new data privacy law, some of the toughest in the world now going into place in China.
1:08.1	This is especially significant as China institutes a regulatory crackdown on their technology sector,
1:16.0	the NASDAQ golden dragon, China index, off about 23 percent on the month, year to date,
1:23.3	down over 35 percent. Finally, a federal appellate court ruled on Friday that the Biden administration
1:31.1	can continue to enforce an eviction moratorium. The case was brought by property managers and
1:36.2	realtors looking to lift the moratorium, according to the Wall Street Journal. In other words,
1:41.1	the eviction moratorium still stands evictions remain restricted, jumping over now. My green,
1:48.6	such a pleasure to have you back then. Ash, it's pleasure to be here. So, Mike, it's been,
1:54.0	it's been a number of months since you've been on real vision daily briefing. What are you looking at
1:58.0	right now? Looking at my Bloomberg screen, as you pointed out, there's an awful lot of green that's
2:02.9	going on. I think a couple of points that you hit on have been themes that I think I last appeared
2:09.8	on real vision, probably in March. At that point, I had kind of shared my perception that the
2:14.7	leadership was shifting, that we were moving away from the reflationary trades that the small
2:19.0	cap indices had moved very, very aggressively. There was a tremendous amount of confusion around
2:24.8	the idea of value versus growth. I had characterized it as much more about momentum versus anti-momentum.
	...

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