Single Best Idea with Tom Keene: Matt Hornbach & Wendy Schiller

Published May 9, 2024, 5:00 PM

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Matt Hornbach and Wendy Schiller.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

Bloomberg Audio Studios, Podcasts, Radio News.

Single best Idea and thank you for listening. I got a bit of the plague here, so we're going to keep this short again today, but it's improving. I'm improving every day. Thank you to the good people. This podcast brought to you by the medical people of Wild Cornell here in New York City. Great show today. I just want to point out Nancy Lazarre was on. She's a legend, She's the Piper Sandler. Nancy Lazar helped invent modern market economics at CJ. Lawrence years ago. And what's really nuanced. We're not going to play it for you, but what's really nuanced is ed Yard Denny is calling this maybe a roaring twenties or things are pretty darn good, and Nancy Lazar takes a very different tack. She agrees the roaring part of it's still there, but it could turn and even in the second half of this year, too much more of a slowdown. That's the kind of tension. We want to highlight the many different voices we speak to on economics and the rest as well. It really helps if we know the pedigree of our guests. Matt Hornbach came out of Vasser Economics and was the chosen one for Morgan Stanley to go to Japan and have the privilege of working with the iconic Robert Feldman. Robbie Feldman, who's been a wonderful supporter of this show, is the English speaking voice of Japan. There's no other way to put it. And Matt Hornbach had a privileged youth within its broader interest rate strategy at Morgan Stanley of working with Robbie Feldman. Here is Matt Hornbach on the choice set of the Bank of Japan.

The Bank of Japan has been very influential, but it's not just them, of course. The commercial banks in Japan are hugely influential in that marketplace. And I can tell you right now what they're hoping for is similar to what other investors around the world are hoping for. They're hoping for the Bank of Japan to raise rates. They're looking to reinvest all of those deposits into higher yielding jgb's and so everybody is on the same side of that market. They want higher rates, and that ultimately is something you need to be aware of.

Matt Hornback just love that listen to the replay of the show today. There's some great conversations and that'll be out in three four hours here to think twelve noon, one pm today, two hours and fifty six minutes. It's a podcast, but it's a whole replay unedited to the show, and Hornback was just brilliant on Japan and the effect across all of the Pacific rim. This is the second time, and I believe three days I've heard somebody I really really respect bring up nineteen sixty eight. No, not cream and what Eric Clapton did with Disraeli Gears, but much more the political tone that we could see this summer in the two conventions in Chicago. Wendy Schiller is at Brown University, and she made clear, like many others, given the protests across America, could we see nineteen sixty eight in Chicago again?

If most people could remember in nineteen sixty eight, which most people can't now. I mean, that's the issue is that we just don't know our history well enough. But certainly the fact that the Democrat Party's convention is in Chicago, there will be protests and there will be a police response, no doubt, really gives people of a certain age, A lot of shutters to think that this will give just as it gave Richard Nixon the election in sixty eight, that this will give Donald Trump the election. And I don't discount that possibility. So they're trying to prepare for that as best they can. Remember. You and I both know people over the age of fifty five sixty they vote the biggest numbers proportionally so that they remember sixty eight. So this is a real challenge for the Democrat Party coming this summer.

Some of the uncertainty they are set out by Professor Schiller of Brown. Whatever your political persuasi, her grasp of our history is just absolutely extraordinary. Our coverage of our politics you'll see in many different formats, of course, Joe Matthew and Kayley Lines leading balance of power, Amory Horden doing a wonderful job with John and Lisa in the Morning as well. I do want to point out the big take and look for David Gera to ramp up his political coverage with a big take as we move to the conventions and onto the first Tuesday of November. We're on Apple car Play, We're on Android Play. I really want to emphasize Subscribe to Bloomberg Podcasts. Subscribe to Bloomberg Podcasts out on YouTube. We're building that out. We're humbled by the growth of a nascent site, if you will, a new form of digital distribution, and the way you can help us is to subscribe to Bloomberg Podcasts and you'll see all of our work there. From New York City single Best by You

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