Surveillance: BOFA's Moynihan on Economic Recovery
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 19 May 2020
⏱️ 37 minutes
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Summary
Jeff Currie, Goldman Sachs Global Head of Commodities Research, says there is far too much optimism in oil markets and sees gold heading towards $1,800/oz near term. Jim O'Sullivan, TD Securities Chief U.S. Macro Strategist, expects most of the major job losses to be behind us once we get through May. Brian Moynihan, Bank of America Chairman and CEO, says the economy is unlikely to experience a recovery until the end of next year. Neysa Ernst, Johns Hopkins Hospital Department of Medicine Nurse Manager, stresses why it is important to continue the use of masks and social distancing in order to keep ahead of the curve. Campbell Harvey, Duke Finance Professor, says the policy response to COVID-19 pandemic has been a black swan.
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Transcript
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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. |
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| 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. |
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| 0:53.8 | Bloomberg.com, and of course, on the Bloomberg. |
| 0:57.4 | Jeffrey Curry has given us such good perspective |
| 1:00.0 | with Goldman's course, he's a guy John who gives us a huge micro economic foundation |
| 1:06.3 | with his work at the University of Chicago over the years and Janus not just |
| 1:11.0 | about oil but it's about the commodity complex in general. |
| 1:14.4 | Do they get out front of a pandemic and try to expect the recovery? |
| 1:19.8 | Well the thing that Jeff I think was on top of was what would happen if we started to breach or get near to breaching storage capacity. |
| 1:25.2 | And once we got to that point how quickly this market would have to adjust Tom and everything else would just fall into place in a really small amount of time. |
| 1:32.2 | And that's basically what you saw a month |
| 1:33.4 | ago the real threat of breaching storage capacity prices plunge aggressively |
| 1:37.3 | lower than everything else has to correct and correct fast. |
... |
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