Thrilled you are with us on Bloomberg Radio and bloomberg television. It was not the surprise of moderna on the ratios. It was the surprise of how well they are able to get the vaccine out. That lifts markets up. Is a correlated left pop it is a correlated lift. Jonathan maybe the message is dont bet against human ingenuity. Keep the faith and the science. Last week it was pfizer. This morning, moderna. The efficacy rate, 94. 5 . It is where the rally is that gets peoples attention. It is not the big cap tech. The story that rolls up his smallcap america, and the International Value story as well. That is the great debate of this very moment, the shortterm problems, the issues across america, and the longterm hope that we get that texting. Tom lisa, what do we see we get in the vaccine. Tom lisa, what do we see in fixed income . We are not at the full faith and credit of november 9, but what do we see in ig and highyield, as we see yield up, price down . Lisa yield up with full facing
But a buy here and now does microsoft hold the key to new market high sns guy what do you say. First of all, you have to you know, we criticize dan on twitter. Really. He is criticized. Dan. Why. Why is he criticized on twitter. For being do youwers. But cant coined maga we can fire the graphic at the top of the show. Dan does know a lot. The maga trade. Yes. And look at the m. In maga as we know is microsoft so. Some hat. On straight valuation price to earnings its expensive look at the last quarter i mean, eps beat was significant. The revenue beat was amazing azure grew 64 year over year. Operating margins 230 basis points better year over year its hard to cast aspersions yes trading yall alltime high. People make a big deal of the 40 billion. I want 4 of the market cap, not insignificant. Answering the original question it can rally into earnings mr. Maga. What is a i. You from a trading standpoint, the stock broke out in early june about 130 basically trading between 130 and 140 s
So that leads to my next question. Youre tracking that particular amount of money, if you will, and where its going, its going strictly to new infrastructure . To modernization . What is the plan there . Right. Well, currently today, if we exit a property, that money gets returned to the u. S. Treasury. Were not able to reinvest that. The infrastructure bill would change that. So thats why were very supportive of that. What we do save are the recurring savings, the maintenance. So we dont heat the buildings, we dont have to repair them if we get rid of them. That remains in our general what we call our nrn budgets, our recurring maintenance budgets. Do you think there will be a way to, in some way, get an idea of how its converted directly or indirectly to care or. Yes. Services. Yes. And what we would plan on diagnosis is reinvesting that money back into probably nrn or minor construction projects. Okay. We could track that. Thank you. Another question i have is one of the things that
Building, so i hope everyone had a good time with that. This winter meeting, we are privileged for marquis domestic partnerss attendance, including governmental staff. Their presence is greatly appreciated and we thank you for your contribution to our meeting. I will ask individuals to stand so we can recognize them. With regard to our former governors representing eight states, Kentucky Governor arnie fletcher, governor fletcher is here. Maine governor john the current in john mccurn in. Maryland governor parris clendenin. Mississippi governor, ronnie musgrove. Pennsylvania governor tom corbett. Pennsylvania governor mark schweiker. Top carolina governor jim hodges. Virginia governor george allen, Virginia Governor gilmore and guarantor. I guess they all get to sleep in now because they are former governors. Again, thanks for their participation and my personal thanks for them attending the meeting. I want to talk a little about my initiative. It has been about six months since we lau
Forum on desegregation of little roczen tr rock high school, they shut down the schools rather than integrate. This is an hour and 20 minutes. I consider the theme of this particular panel Something Like triumph over adversity. Each of the panelists experienced segregated schools education. Some were directly involved in the crisis year and others were victims of the lost year when all little rock high schools were closed for an entire academic year. Some experienced all three. Despite being used remember, teenagers, like some of you in the audience, they were teenagers during the little rocks chaotic events. All of these gifts persevered and succeeded. They lived productive lives, were still living productive lives. They had a remarkable careers and they have given service with distinction. So they obviously all have long resumes. For that reason what i will do is shorten their resume so they have more time to speak. Because there are five speakers up here, we are going to have to mov