Surveillance: The Value of Cash With Bevan
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 6 May 2020
⏱️ 31 minutes
🧾️ Download transcript
Summary
James Bevan, CCLA Chief Investment Officer, says he's holding cash because he's worried about the disconnect between fundamentals and the markets. Joyce Chang, JPMorgan Chair of Global Research, says the Fed has taken on the role of the central banker to the world to avert a systemic shock to the global financial markets. Michael Feroli, JPMorgan Chief US Economist, explains why he thinks unemployment is closer to 20% and might be underrepresented because of the way the data is collected. Gene Sperling, Former Director of the National Economic Council talks about his new book "Economic Dignity." Michelle Patch, Johns Hopkins School of Nursing Assistant Professor speaks to the complications of Covid-19.
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| 0:24.7 | Bloomberg in-car apps are sponsored by interactive brokers. Welcome to the Bloomberg Surveillance Podcast, I'm Tom Keene. |
| 0:40.0 | Daily, we bring you inside. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
| 0:43.5 | Daily, we bring you insight from the best |
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| 0:57.4 | Speaking of exquisite is a gentleman James Bevin from London who has the audacity to actually think long term and I mean folks longer |
| 1:06.2 | term than so many that we speak to our global Wall Street he is with CCL and |
| 1:10.7 | joins us right now. James what is long term for you right now? |
| 1:14.7 | Is long term getting to 2021, or is long term for you out a decade? |
| 1:21.5 | I absolutely think we have to have a multi-year perspective of where value goes. |
| 1:26.0 | There is no point paying up top dollars |
| 1:30.0 | to participate in equity markets, current levels, unless we are absolutely confident that the |
| 1:34.9 | corporate earnings numbers are going to come through. |
| 1:37.3 | Equally I look at bond market yields and they are so far below what I reasonably project for medium-term inflation, |
| 1:45.0 | but I think that they are currently legal theft in many markets. |
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