Surveillance: Oil Recovery Will Be Uneven, Rats Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 21 April 2020
⏱️ 26 minutes
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Summary
Greg Boutle, BNP Paribas US Head of Equity and Derivative Strategy, says equities are now
more expensive than they were before the recent turmoil. Martijn Rats, Morgan Stanley Global Oil Strategist, says the restart of oil demand will likely be uneven across crude products so we'll likely see more driving before flying again. Kathy Hochul, New York Lieutenant Governor, says the state of New York is projected to lose at least $15 Billion dollars in revenue in this budget year. Michelle Patch, Johns Hopkins School of Nursing Assistant Professor, examines the emotional toll of the coronavirus pandemic.
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| 0:57.2 | Let's start the conversation of the morning, shall we? |
| 0:59.0 | Greg Battle of BMP Parabar joins us now, the US head of Equity and Derivative Strategy. |
| 1:04.0 | Greg, fantastic to catch out with you, sir. |
| 1:06.5 | The market, should it view what is happening in the commodity market as a story, a technical |
| 1:11.5 | story isolated to crude or a broader market story we need to pay attention to. |
| 1:16.9 | It absolutely has to be both. So for sure there's some idiosyncratic stuff to do with storage and the fact this is the front month and it's |
| 1:24.0 | expiry but the reality is and you just touched on this that we wouldn't be in |
| 1:27.4 | this situation if demand wasn't zero we've had this this shutdown |
| 1:31.4 | across the country that's going to see GDP plunge, unemployment sky rocket. |
| 1:36.1 | And that's the fundamental reason why we're in this situation in the oil market, and that |
| 1:40.4 | reads across to every other risky asset. |
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