Surveillance: Fed Wants You To Take Risk, Schutte Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 26 June 2020
⏱️ 35 minutes
🧾️ Download transcript
Summary
Anna Han, Wells Fargo Equity Strategist, the domestic political risk in the U.S. looks under-priced heading towards an election cycle. Brent Schutte, Northwestern Mutual Chief Investment Strategist, says the Fed want you to take risk and will continue to try to get you to take risk. Kenneth Leon, CFRA Global Director of Industry & Equity Research, says projected loan losses for July could top $700 million. Brad Setser, Council on Foreign Relations Senior Fellow, describes how the Covid-19 pandemic is shifting geopolitical dynamics around the globe. Tim Adams, Institute of International Finance President and CEO, discusses the U.S. Stress test results.
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| 0:00.0 | Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it. |
| 0:07.0 | I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and |
| 0:15.5 | I'm going to explore the lessons we can learn when creativity and ambition collide |
| 0:20.7 | with competition and power. |
| 0:23.0 | Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts, |
| 0:28.0 | or wherever you get your podcasts. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.4 | Daily, we bring you insight from the best in economics, finance, investment, and international |
| 0:48.9 | relations. |
| 0:49.8 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, |
| 0:56.2 | on the Bloomberg. |
| 0:57.2 | We begin the program this morning with Anna Han of Wells Fargo, the equity strategist over there. |
| 1:02.6 | Anna, I know that in the short term, |
| 1:04.9 | you are cautious, longer term, you are firmly in the risk on camp. |
| 1:09.2 | Can you tell me why? |
| 1:10.6 | Thanks, John. |
| 1:11.5 | Well, even with the reopening being slowing down in key areas such as Texas, you're seeing |
| 1:16.4 | nationwide that it's continuing and the consumer spending is coming back that demand has been |
| 1:22.4 | pent up. So as that persists we think that the risk |
| 1:25.8 | seeking and the equity ride could continue. Anna what do you take away from the |
| 1:30.1 | store closures that we've seen from the reopening process hitting |
| 1:33.3 | pause in places like Texas. It's certainly concerning John you know especially with |
| 1:37.6 | Texas being one of the largest GDP contributors to the national GDP that is |
... |
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