Euro at $1.30 Isn't An Extreme, Saravelos Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 9 January 2018
⏱️ 25 minutes
🧾️ Download transcript
Summary
George Saravelos, Deutsche Bank Global Co-Head of FX Research, says asset valuations will be the biggest problem for the dollar this year. Stanley Collender, Qorvis MSLGROUP Executive VP, says as interest rates rise, it will begin to become a political problem. Jeff Sprague, Vertical Research Partners Managing Partner, provides an overview of the industrial sector. Jared Bernstein, Center on Budget & Policy Senior Fellow, says when we hit the next recession, we will have too little monetary and fiscal space.
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| 0:00.0 | The media alone can't ease the tensions that come from the debate surrounding the issues we deal with every day. |
| 0:05.7 | However, we can create spaces where people can freely kick the tires of their preconceived notions. |
| 0:11.2 | I'm Tim O'Brien, and I'm the senior executive editor at |
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| 0:18.1 | problems with the facts in mind. Because context changes how you see things and |
| 0:22.4 | how you change things. |
| 0:23.6 | Context changes everything. |
| 0:25.6 | Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.5 | Daily, we bring you insight from the best in economics, finance, investment, |
| 0:48.0 | and international relations. |
| 0:49.9 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com and of course |
| 0:56.2 | on the Bloomberg. Well let's bring in George Saravailos, shall we formerly of the IMF now of Deutsche Bank the |
| 1:06.7 | global co-head of FX research at the German Investment Bank. George, get us up to speed. Let's begin with a Bank of Japan and |
| 1:13.7 | news in the last 24 hours. It's an operation they do every single week. Yet this time it got a lot of headlines |
| 1:19.6 | because they've paired back some of the long bond purchases. Did it mean that much to you as it meant to some people in this market? |
| 1:27.0 | Oh, it didn't really mean that much, |
| 1:28.8 | and since we've actually seen a bit of a retracement in Dollar Yane |
| 1:31.8 | which initially dropped. The thing to bear in mind is that the Bank of Japan is no longer targeting a quantity of purchases but a price. |
| 1:39.0 | And they've been actually tapering, they've been slowing the amounts they buy for the last six to nine months. |
| 1:45.6 | So it wasn't really a big surprise to us, but this being said, it speaks of how sensitive |
| 1:50.9 | the yen is going to be to any sort of sign that the BOJ could potentially... sensitive the in currency |
| 2:03.7 | whereby the correlation between yields and currencies is breaking down and if you look at |
... |
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