Hugh Hendry on the "Terrifying" Yen Move, and Risk of "Mad Max" Deflation
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 9 May 2024
⏱️ 51 minutes
🧾️ Download transcript
Summary
Hugh Hendry says the world is brimming with risks right now, from Chinese deflation, to the strength of the US dollar, to unrealized losses in US Treasuries held by the bank. In the new episode of the podcast, we speak with the former manager of the Eclectica hedge fund, who now writes and operates under the Acid Capitalist branding. Hendry, who now resides in St. Bart's, says that the most important story in the world, and for as long as he's been in markets, has been the rise of China, which he sees as inflating asset values all around the world. Specifically, he sees a broken model, in which the country's GDP grows rapidly, but domestic investments and household income don't keep up. He warns of a risk of a yuan devaluation, as the country seeks to maintain its export drive which, he warns would create "Mad Max" deflation. He also talks about the "terrifying" drop in the Japanese yen, and the unusual situation by which the US is one of the world's growth leaders.
See omnystudio.com/listener for privacy information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | As a real estate manager, principal asset management harnesses the power of a 360 degree perspective, |
| 0:05.7 | delivering local insights and global expertise across public and private equity and debt. |
| 0:11.2 | Their teams apply local insights and global perspectives to help |
| 0:14.4 | identify the most compelling investing opportunities. Principal |
| 0:17.9 | Asset Management actively invested. Learn more at Principal AM.com. Investing involves risk including possible loss of |
| 0:25.9 | Principal Asset Management SM is a trade name of Principal Global Investors |
| 0:30.3 | LLC. Hey there it's Jill W Weisenthaw and Tracy Allaway. |
| 0:34.0 | And we are the co-hosts of the Odd Lots Podcast. |
| 0:37.0 | And we want to tell you about a new podcast here at Bloomberg we're really excited about. |
| 0:41.0 | Money Stuff, the Podcast. That's right. Friend Stuff the Podcast. |
| 0:43.0 | That's right. Friend of the Pod, Matt Levine is teaming up with our other friend and Bloomberg |
| 0:48.0 | TV host, Katie Gryfeld to bring the Money Stuff newsletter to life. Every Friday, Matt and Katie will dive into all the Wall Street |
| 0:55.7 | finance and other things that make Matt's newsletter such a hit. |
| 0:59.7 | You can listen to Money Stuff the Podcast on Apple Podcast, Spotify, or wherever you get your podcast. |
| 1:07.0 | Bloomberg Audio Studios. |
| 1:11.0 | Podcasts, Radio News. Hello and I'm Tracy Allaway. |
| 1:30.0 | Hello and welcome to another episode of the Odd Lot's podcast. I'm Joe Wiesenthal. |
| 1:31.0 | And I'm Tracy Allaway. |
| 1:32.8 | Tracy you know it's sort of giving me a little bit of anxiety these days? |
| 1:36.7 | I feel like that's a dangerous question to ask your coworker but go on. |
| 1:41.6 | I mean it does seem right it could be anything it's not personal it does seem like across many industries |
| 1:50.0 | E. V's E. E. S. C. C. C. E. either because they are doing very well, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.