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Bloomberg Surveillance

Surveillance: Defaults Are A Necessary Evil, Kong Says

Bloomberg Surveillance

Bloomberg

News, Investing, Business News, Business

41.1K Ratings

🗓️ 20 March 2019

⏱️ 30 minutes

🧾️ Download transcript

Summary

Kate Moore, BlackRock Investment Institute Chief Equity Strategist, says the opportunity in equities is on quality. Carl Riccadonna, Bloomberg Economics Chief U.S. Economist, and Michael McKee, Bloomberg International Economics & Policy Correspondent, share their expectations for today's Fed meeting. Theresa Kong, Matthews Asia Head of Fixed Income & Portfolio Manager, says Chinese defaults will slowly increase but they are a necessary evil. Therese Raphael, Bloomberg Opinion Columnist, says the option of a no-deal Brexit is still on the table at the end of June.

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Transcript

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0:00.0

Little could be done for children with Dushin muscular dystrophy until the gene

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responsible for the disease was known. Hear about the possibilities geneticists are now exploring on the latest episode of

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targeting the toughest diseases, a new podcast by Bloomberg Media Studios and Vertex Pharmaceuticals. Welcome to Crash Course, a podcast about business, political and social disruption, and what we can learn from it.

0:33.7

I'm Tim O'Brien. Every week on Crash Course I'm going to bring listeners directly into

0:39.2

the arenas where epic upheavals occur and I'm going to explore the lessons we can learn when creativity and ambition collide with competition and power.

0:49.4

Listen to Crash Course every Tuesday on the I Heart Radio app, Apple Podcasts, or wherever you get your

0:55.8

podcasts. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene.

1:10.0

Daily, we bring you insight from the best in economics, finance, investment, and international relations,

1:16.6

find Bloomberg surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, on the Bloomer.

1:24.0

Here in New York joining us, I'm pleased to say is Kay Moore,

1:31.0

Blackrock Investment Institute, Chief Equity Strategist.

1:34.3

Good morning to you, Kate.

1:36.2

What should we be looking for a little bit later from Chairman Pound and Co?

1:39.6

So I think the equity market and kind of risk assets in general have become pretty

1:43.7

comfortable and complacent with the idea that monetary policy is going to stay

1:48.1

accommodative forever and ever and ever. So I think the biggest thing to watch is

1:52.1

going to be for equity markets the dot plot.

1:55.0

I think for kind of broader markets and fixed income we're going to be focused a lot on the balance sheet and

2:00.3

reinvestment and the composition the Treasury composition which is a little bit more technical.

2:05.0

But in general, equity investors,

2:08.0

and I would say risk asset investors broadly,

2:10.0

want to see that monetary policy is not going to move much or slash at all in the

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