Turned upsidedown, to be honest with you. You marvel about it, but switzerland borrowed money and negative Interest Rate. Hard to think about. Somebody gave money to switzerland, give it back less than 50 years. Japan negative Interest Rates. Germany, negative Interest Rates. Im trying to operate in a world where i have to figure whats normal. So normal to me is maybe an economy grows, the labor force and economy grows about half of 1 per year. Productivity of labors for, 1. 5 a year. Basically makes a real gdp. 2 real gdp. Add on 2 inflation. 4 nominal gdp. That kind of world, normally fed rates 2 currently 37. 5 basis points. Current government around 150 now. May take two, three years to get to those rates. That kind of world i think the market multiple would be about 17 times. People could argue 17 is too low relative to Interest Rates and inflation, or too high relative to other issue, Profit Margins and country moving to the left, those kind of things, but 17 times my estimate, 1
Shooting overnight at a university. One person is dead. Thers were wounded a suspect has been arrested. The shooting took place in a parking lot outside a dormitory. President obama ghost oregon today to meet with survivors of relatives of those killed in last weeks committee college shooting. At everyone is happy with the president s visit. And an organization that pushed peacefully for democracy is honored by the nobel committee. Goes tors peace prize the Tunisian Group who led the spring uprising. Matt take a look at futures here. We are not seen the kind of movement that we are seeing in overseas markets. In europeally overnight. But only a gain in the many contracts on the s p and the dow right now. For itst oil on pace biggest weekly gain since august. We are looking at oil and its. Ighs price that is one of the reason that Energy Stocks are seeing their longest rally in six years. Is upp 500 energy index about 15 , 16 of the last eight sessions. The commodities are doing well to
Youre watching Market Makers here on bloomberg television. Friday in new york city. Im eric schatz sker. Im stephanie ruhle. This bill gross news is huge. No other way to describe it. An earthquake hit the bond market this morning. The bond king himself, bill gross, is leaving pimco, the Money Management powerhouse he cofounded which turned him into a billionaire. Hes moving to january us in Janus Capital to work for his former colleague. Pimco said fundamental differences led to the departure. Gross says he wanted to spend more of his time managing client assets. Bill powers is a former pimco managing director who has built his own property investing bills since leaving the firm four years ago. He joins us from nantucket. Great to have you on the show. Glad you could take time out for us from nantucket. Tell us, what seems to make the most sense to you . The idea that there were these fundamental differences between gross and pimco . Or this notion that gross is putting out there he s
Easily the most consequential midterm elections in a generation or more. For the next hour well look at the pitched battle for the house and the senate, the challenge for democrats within their own energized party, and the unique position of women in the resistance. The Trump Presidency not even two years in has challenged the nations most fundamental Democratic Institutions in way that have just barely been contained by parts of the judiciary and by public outrage. Since taking Office President trump has launched a sustained attack on a Justice Department that will not bend to his will. Hes called the special counsel investigation a rigged witch hunt, an illegal scam, and taken every opportunity to question its validity. Hes even sided with president Vladimir Putin of russia and against u. S. Intelligence agencies on the central issue of whether russia interfered with the 2016 election. The abject corruption in the administration is so phenomenal that even republicans have circulated