Daily Briefing - Aug 7 2020 w/ Real Vision CEO, Raoul Pal.

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 7 August 2020

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real Vision CEO Raoul Pal is joined by senior editor Ash Bennington to discuss the current state of different asset classes at this unique juncture. Raoul shares his view on the dollar, precious metals, and bitcoin. He also provides a strategic update on his unfolding thesis. Raoul guides viewers from the hope event into the insolvency phase as high-frequency data show slowdowns in economic activity. Raoul and Ash discuss why they think bitcoin is a favorable trade, and they explore why buying calls on the VIX and puts on the S&P 500 could ballast a gold-heavy portfolio. In the intro, Jack Farley discusses today's Employment Situation Report from the Bureau of Labor Statistics. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:28.1	Te's and sees apply. It's Friday, August 7, 2020, just after market close in New York. This is the Real Vision Daily Briefing. I'm Ash Bennington in New York.
0:45.6	Joined shortly by our founder and CEO Raal Powell. But first, with the day stories, Jack Farley.
0:52.0	Thanks, Ash.
0:53.0	The BLS released their July Empset this morning,
0:55.5	and the non-farm payrolls rose 1.76 million in July,
0:59.0	beating the median estimate of 1.48 million.
1:01.5	The growth in the leisure and hospitality sector as well as
1:04.2	retail was particularly robust. Since the trough in April the US job market has
1:08.7	added about 9.3 million jobs and yet it remains the case that the total pay rolls are still short of February levels by a
1:15.7	staggering 12.88 million.
1:18.2	So while we may be on the road to recovery, we're not even halfway there yet.
1:21.7	The BLS also reported the latest unemployment rates which did reflect the
1:25.3	gain seen in the non-farm payrolls. The U3 unemployment rate fell to 10.2 percent, lower than the 10.6 that was expected.
1:33.0	But the labor participation rate came in lower than expected,
	...

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