The Central Banks are doing. The one thing that has not rallied in this everything rally are long dated bond prices. Investors have been positioning for continued divergence in that correlation. We have had some better data recently. Inflation data did see a reversal of some of the weak ness. A pretty positive environment for yields. We have seen in at her number none in this year. It is not in short dated treasuries, it is an longer dated. One of the most crowded markets is duration. You may be better off at the short end of the curve. If you get yields higher and equities higher, that is the pain trade. Jonathan joining me around the table to discuss is mike schumacher, kathy jones, and matthew hornbach. Kathy, lets begin with you. A be the biggest risk is the one in duration, not in credit. Kathy every once in a while they do ring the bell. I think with all of the easing, if we look back at previous quantitative easing cycles we have seen, we have seen the curve steepen and long rat
Downshift in the sentiment. The one thing that has not rallied in this everything rally are long dated bond prices. Investors have been positioning for continued divergence in that correlation. Yields are much higher than they were 48 hours ago. We have had some better data recently. Inflation data did see a reversal of some of the weakness. The fed has gotten dovish. It is not just the fed. The ecb remains on this dovish stance. Its a pretty positive environment for yields. We have seen an astronomical amount of money pouring in, and it is not in short dated treasuries, it is an longer dated. One of the most credit trades in the market is high quality duration. If you look at yield curves you , may be better off at the short end of the curve. If you get yields higher and equities higher, that is the pain trade. Jonathan joining me around the table here in new york to discuss is Mike Schumacher, kathy jones, and matthew hornbach. Kathy, lets begin with you. Maybe the biggest risk is th
The one thing that has not rallied in this everything rally are long dated bond prices. Investors have been positioning for continued divergence in that correlation. Yields are much higher than they were 48 hours ago. We have had some better data recently. Inflation data did see a reversal of some of the weakness. The fed has gotten dovish. It is not just the fed. The ecb remains on this dovish stance. Its a pretty positive environment for yields. We have seen an astronomical amount of money pouring in, and it is not in short dated treasuries, it is longer dated. One of the most credit trades in the market is high quality duration. If you look at yield curves, you may be better off at the short end of the curve. If you get yields higher and equities higher, that is the pain trade. Jonathan joining me around the table here in new york to discuss is Mike Schumacher from wells fargo, kathy jones from charles schwab, and Matthew Hornbach from morgan stanley. Kathy, lets begin with you. May
He was looking at a way to demote jay powell so he wouldnt be chair anymore, not fire him. I think a lot of people think it would be against the law. I asked senator tillis from north carolina, who is on the finance committee. He thought maybe it was possible. President , ithe is his administration. He should look at everything he can do within his legal authority. I havent reviewed the legal analysis, but theyve got a lot of smart people in the white house. It probably is within his authority not to remove him, but potentially consider another chair. David it sums like if you were to do that, the Republican Senate wouldnt stop him. Alix well no, of course not. Someone, who would he pick . Of uld be the perfect the perfect dove . David i think you will come out for blood if he doesnt get his rate cuts. Stay with bloomberg as we bring you live coverage of the latest decision, followed by jay powells news conference, starting at two is like this afternoon. Alix from one politician to ano
Probably one of the biggest in terms of Enterprise Companies going public during this ipo vintage. We awere here last year for the uber ipo slack today. Well bring you lots of news about it its a different type of listing, its a direct listing well talk about all of the dynamics around that for now, back to you we talked about that direct listing earlier this week. The pros and cons to it again . There are some pros and cons. You can only do it if you have a lot of cash on the Balance Sheet. This is a company that does. If youre trying to raise money, it doesnt work this way theres no additional money that gets raised the way uber was raising money and wework will be raising money. Well see if it becomes a model. Spotify did it successfully. Slack is doing it. If there works, theres a question on whether airbnb, the next ipo on the docket in the future, theres a question if they go the same route it has a huge implication for wall street, wall street fees and the ipo structure. Andrew,