Surveillance: Oil Prices Boost Consumer Spending, Swonk Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 23 November 2018
⏱️ 29 minutes
🧾️ Download transcript
Summary
Steve Wieting, Citigroup Global Chief Investment Strategist, doesn't think 2019 marks a down year for the U.S. or the rest of the world. John Levy, John B. Levy & Company Founder, says we are going from necessity shopping to experience shopping. Diane Swonk, Grant Thornton Chief Economist, says oil prices will give a boost to consumer spending in the holiday season. Christyan Malek, J.P. Morgan Head of EMEA Oil & Gas Research, talks the Russian break even and the Saudi break even oil prices. Dana Telsey, Telsey Advisory Founder, says stores are in a good inventory position for holidays sales.
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| 0:37.0 | listen wherever you get your podcasts. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
| 0:55.6 | Daily, we bring you insight from the best in economics, finance, investment, |
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| 1:09.7 | Why don't you bring in Stephen Whiting he of the great linkage of economics into the decisions to invest. |
| 1:16.5 | Joining us from Citigroup, the Global Chief Investment Strategist, good morning to Steve, |
| 1:20.5 | great happy with us on... |
| 1:21.5 | Good morning. How are you? We a rapid move we've had in crude, a huge |
| 1:24.9 | huge move from north to 75 dollars to 52 in a matter of weeks, not months. |
| 1:30.3 | Steve, Tom and I was saying that when things move this quick other things break what |
| 1:34.3 | breaks no I think you can see that's indeed the fact that cross market |
| 1:39.3 | volatility there's an impact here asset classes correlation between volatile moves, you know tends to be a bit |
| 1:47.7 | contagious. You can see it with a bit of credit, as you mentioned earlier. The high yield sector in the United States |
| 1:55.7 | is 15% energy related at this point. That's still a much higher share than in the equity |
| 2:02.0 | market. But broadly speaking when you know a much higher share than in the equity market. But broadly speaking when you take a look |
| 2:05.1 | at rising credit spreads it's going to have some impact on how much of a hurdle you think |
... |
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