Headline. I think that is good for american workers. Looking at the wage growth, the unemployment number is the bright news. Janet yellen said in a healthy labor market wage growth is between 3 and 4 . Wages begin to rise towards 3 , they certainly are. I think the fed is a slamdunk in raising rates in december. This confirms a story permeating the market. The fed has said they will tighten, therefore december is pretty much in the bag. I think people will rightly interpret the second move. They will go in december. Two and three times next year. Jonathan joining the is oksana, from j. P. Morgan asset management. Head of american fixedincome strategies. Coming to us from edinburgh, Senior Investment manager at aberdeen standard investments. I want to begin with payroll report. The estimate was 80,000. The number was 33. Wage growth came in hot. 0. 5 month on month. Almost three Percentage Points of the year on your figure. George, it was a whether impaired job report. We expected a hea
Markets continue to shrug off risk. Its really surprising when you look at all the events that have gone on in the market becomes so jaded. They dont react like they used to. I dont know about you, but im nervous. And it seems like when investors are nervous they are prone to being spooked. And nothing seems to spook the market. Central banks are keeping the peddal too much on the gas and we are sucking out volatility that is not conducive to longterm growth. In this case, i dont think its a bubble, i just think there is a disaster risk the markets are not taking into account. Lisa lots of existential angst. Joining me in new york is michael cloherty. Bonnie wongtrakool, Portfolio Manager at western Asset Management and scott kimball. I want to start with the ecb. We did get news overnight giving more details about what their plan might look like next year. Im struck by the fact that the market rallied. People bought on the idea of them buying fewer bonds. Bcb bancorp will he finished
Economy. Financially selfsufficient at 14, able to make his own way through harvard, nathan always knew he wanted to be an entrepreneur. The company he started in 2008 is now valued at more than 30 billion. A chief Strategy Officer at airbnb from the companys San Francisco headquarters, the company which through the sharing economy could further shape our lives. Nate, welcome to high flyers. Good to have you with us today. Thanks. You know, airbnb, it was a model that was never meant to take off. It was a model against everything your parents taught you. Never bring strangers into your house. Here you are, one of three cofounders. Take us through the early days. Thats right. This doesnt start with business ambitions. We were solving our own problem, how to pay the rent. Broke. We were roommates in San Francisco. Suddenly, in the summer of 2007, the rent an apartment was raised 25 . I said that is too expensive, im out of here. The two other guys wanted to say. They just quit their jobs
Highflyer. Financially selfsufficient at 14, able to make his own way through harvard, nathan blecharcyzyk always knew he wanted to be an entrepreneur. The company he started in 2008 is now valued at more than 30 billion. A chief Strategy Officer at airbnb, nate overseas operations from the companys San Francisco headquarters, the company which through the sharing economy could further shape our lives. Hasalinda nathan blecharcyzyk, welcome to high flyers. Good to have you with us today. Thanks. Hasalinda you know, airbnb, it was a model that was never meant to take off. It was a model against everything your parents taught you. Never bring strangers into your house. Here you are, one of three cofounders. Take us through the early days. Nathan thats right. This doesnt start with business ambitions. We were solving our own problem, how to pay the rent. Hasalinda broke. Nathan we were roommates in San Francisco. Suddenly, in the summer of 2007, the rent an apartment was raised 25 . I sai
Good names on the list. I dont think with that list of names, even yellen, i dont think the president can make a bad choice. The Political Considerations outweigh the current economic situation. A new administration often just once its own people on board. The interesting part is this discussion is coming at a time when there is the socalled mystery about the low level of inflation. The interpretation is quite important. I think they would view jay powell as someone to be more continuous in the policy we have been experiencing. We will have a very accomplished economist as the head of the Federal Reserve for the foreseeable future. Jonathan joining me is mike collins, bob michele, head of the Global Fixed Income Commodities Group at jpmorgan asset management, and Marilyn Watson from blackrock. Great to have you with us. Lets begin with where the odds are for the race for fed chair. The number one spot seemingly is jay powell. At the number two spot, if you look the front runners is rep