Donald Trump is rewriting the Washington rulebook and reshaping the global economy.

If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help.

I'm Stephanie Flanders, head of government and economics at Bloomberg.

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A single best idea. We'll be quick about it today, right in the heart of economic data, retail sales today. Really soggy, substantial bond market move follows into the morning.

We'll see how they end up the day before that jobs report tomorrow and then right on to a CPI report, the key inflation report on Friday.

Where are we going to be Friday at 9 a.m.? I have no idea. We talked to David Baylon,

exquisite at Citigroup and now at CIO group, David Baylon was absolutely brilliant

on the hidden fees of asset management. Here, on the basis points charged.

The street does not tell the client, both the performance of the underlying individual managers

in their account, and the total fee low that they're paying on any of the statements individual managers in their account and the total

fee low that they're paying on any of the statements that they're getting, and the families

do not aggregate their accounts across multiple advisors to actually see how they're doing.

Those two things are remarkable in this today and age, given the technology that we have

available.

And if a family does that,

the oh my of it is extraordinary. This is a fee that's the equivalent of nine or 10 percent of what

they earn in an average year. That's what they're paying in total fees. And it is shocking to me

that that is the state of the industry. Add to that the fact that most clients are getting a model,

and the model that they're getting and managing their assets is backward-looking,

...