Surveillance: Fed's Balance Sheet With Bullard
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 30 March 2020
⏱️ 44 minutes
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Summary
Francisco Blanch, Bank of America Global Head of Commodities & Derivatives Research, expects to see the steepest decline in global oil consumption before the summer. James Bullard, Federal Reserve Bank of St. Louis President, says the Fed has capacity to carry 10% more debt. Bruce Kasman, JPMorgan Chief Economist and Managing Director of Global Research, says he wouldn't be surprised to see more Fed action. Richard Haass, Council on Foreign Relations President, says the United States will become less dependent on single supply sources in the future as a result of the coronavirus. Sebastien Galy, Nordea Bank Senior Macro Strategist, believes the Fed will continue to surprise and adapt to this brutal situation.
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| 0:56.2 | on the Bloomberg. |
| 0:57.2 | To me, the story that struck out to me over the weekend was about how some drillers are now paying people to take the oil away from them |
| 1:06.2 | basically negative pricing in the oil patch given the glut that we're seeing in the lack of storage |
| 1:11.6 | available just shocking. |
| 1:13.3 | Well, let's talk about that with Francisco Bludge, Bank for America Global Head |
| 1:16.1 | of Commodities and Derivitus Research. |
| 1:18.1 | Lucky to have Francisco join us on the phone this morning. |
| 1:21.0 | Fantastic to have you with us, Francisco. |
| 1:22.4 | Let's start there, shall we we are we breaching storage capacity in various parts of the United States |
| 1:28.0 | Thanks for having me Jonathan |
| 1:30.0 | We are we are not yet but are going to get there very soon. |
| 1:34.0 | I remember you were asking before what's the bigger shock, is it the demand shock, the supply shock? |
| 1:39.0 | Well, it's the demand shock. We think that demand will be down 17 million barrels a day in the month of |
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