Is This What a Soft Landing Looks Like?

Real Vision: Finance & Investing

Real Vision

Business News, Business, Investing, News

4.1 • 1.1K Ratings

🗓️ 6 January 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

With Nonfarm payrolls coming in above estimates, and wage growth softer than expected, Atlanta Fed President Raphael Bostic said today that “the Fed needs to stay the course” with regards to raising interest rates in 2023. U.S. equities rallied on the news — essentially calling the Fed’s bluff as the market prices in a pause in the coming months and rate cuts in the latter half of the year. On today’s show, Maggie Lake sits down with Peter Boockvar, CIO of Bleakly Advisory Group, to sift through the market’s response to mixed economic data and hear why Peter believes that the Fed is almost done hiking rates. As he wrote in the latest edition of The Boock Report, Peter believes that the market won’t find a bottom “until everyone throws in the investing towel not wanting to ever own a stock again.” He’ll share where he believes we’re at in that process, and where he’s looking for opportunities along the way. Plus, we’ll also see a clip from our new series, Steno’s Signals, with Andreas Steno Larsen, on what falling inflation means for equities and energy. Watch the entire interview here: https://rvtv.io/3GqqeWL Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This episode is brought to you by London Business School.
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0:18.6	subject experts and industry insiders,
0:21.4	look for podcasts from London Business School.
0:23.8	Navigate the now and be prepared for what's next with London Business School.
0:31.0	So are we headed for a soft landing? Hi, everyone. Welcome to the Real Vision Daily Briefing.
0:41.6	With me today's Peter Bookvar CIO of Bleakly Advisory Group. Hi, Peter. It's a nice to see you.
0:48.0	I'm Maggie Sam here. Thanks.
0:50.0	We survived the first week of 2023. It's all a pill from here.
0:55.0	I need a weekend.
0:57.0	Now we do need a week and we're all talking about that.
0:59.8	It's hard to get back in the swing of it.
1:01.8	But we are ending the week on a pretty good looking note,
1:04.6	if at least if you're a bull for equities,
1:07.8	we had a big jobs report today. Investors seem to like what they heard,
1:12.2	especially when it came to wages.
1:13.8	We saw US stock markets up and they're just closing,
1:17.0	but it looks like they've got, you know, booking in gains well over 2%.
1:20.2	We saw the 10 year treasury down, yield down to three,
	...

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