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And context changes everything. Go to Bloomberg.com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene.

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dot com and of course on the bloomer we consider the market moves, the moves continue this morning

with Twi Lanoian of Commerce Bank

and Daniel Morris of course of B&P Perryba

joining us as well.

Tui, what will this do to the dollar?

Do you have to reset at Commerce Bank,

your dollar call off what Chairman Powell said?

No, actually in fact, we feel confirmed in our dollar view. We have been expecting a weakening dollar next year, particularly as the Fed hiking cycle would draw to an end and markets concentrate on that and this is a

common pattern that we've seen in the past with past rate hike cycles as the end draws near,

see the dollar doesn't benefit from the last couple of rate hikes

anymore as the market is already foreseeing the peak of interest rates and actually the dollar starts to weaken so in fact

Powell has confirmed our view in that.

Very good Dan Morris let us look at John Authors, who channels Jeremy Granzen of GMO here on the old

Bronasaurus model. They serve Bronasaurus at lunch yesterday as well. It was wonderful.

Chairman Powell wants more room for discretion.

The stock market to a bronosaurus. Well it took a long time for information

to go from the bronosaurus's head to its tail in the same way the bond market is the bronosaurus

...