Surveillance: The Pessimism Is Overdone, Normand Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 24 October 2018
⏱️ 29 minutes
🧾️ Download transcript
Summary
John Normand, JP Morgan Head of Cross-Asset Fundamental Strategy, says there are pockets of opportunity in emerging markets. George Friedman, Geopolitical Futures Founder & Chairman, discusses the U.S.-Saudi Arabia relationship. Diane Swonk, Grant Thornton Chief Economist, says much of the Fed's power comes from the perception of its independence. Craig Gordon, Bloomberg Washington Bureau Chief, joins us on breaking news. And Jon Lieber, PWC National Tax Services Principal, analyzes the possibility of a middle class tax cut.
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Transcript
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| 0:00.0 | The media alone can't ease the tensions that come from the debate surrounding the issues we deal with every day. |
| 0:05.7 | However, we can create spaces where people can freely kick the tires of their preconceived notions. |
| 0:11.2 | I'm Tim O'Brien, and I'm the senior executive editor at |
| 0:13.8 | Bloomberg Opinion. On our platform we ask tough questions and solve complex |
| 0:18.1 | problems with the facts in mind. Because context changes how you see things and |
| 0:22.4 | how you change things. |
| 0:23.6 | Context changes everything. |
| 0:25.6 | Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. 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, |
| 0:47.8 | and international relations. |
| 0:49.8 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, |
| 0:56.2 | on the Bloomberg. John Normand, with us I shall introduce him formally |
| 1:05.1 | JP Morgan head of FX and international rate strategy let's talk about these |
| 1:08.7 | markets John a vicious breakdown in sentiment and I'm trying to understand what's behind it. |
| 1:14.3 | What's behind it? |
| 1:15.3 | It's a few things. |
| 1:16.7 | It's the macroeconomic data continuing to remain weak globally even though they're not so weak in the US. it's the messaging from the Fed |
| 1:25.0 | that they could be moving to restrictive over the next year, |
| 1:27.0 | and it's the very near-term focus on Q3 earnings |
| 1:30.0 | and this guidance that corporates are giving about the impact of |
| 1:33.4 | tariffs so it's just kind of a very unfavorable confluence of events right now. |
| 1:37.1 | You use the word globally. That's been the story through 2018 so far and for much of |
... |
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