Prevalent absolute everywhere. Lets get a sense of where we go from here in these markets. A good time to take a look at where the rest of the year looks with davos kicking often switzerland. The World Economic forum now underway. Joining us for a little bit further down the road from geneva, the silly askew not geneva,of bank from the cilia skin not because gkionakis. Vasileios i think a major suppressor of volatility and supporter of markets is the fed coming out in october and starting to it bet to expand its balance sheet. Question is that the market clearly took that guy as long as the market thinks it is kind of kiwi light kind of qe lite. Does the fed start to pull back a bit from that support, and the market feels like theres maybe a little less monetary stimulus in the system . That would be one nearterm catalyst that could lead the market to change the volatility regime. Guy do you think Central Banks are brave and up at this point to withdraw some of this stimulus . Wouldnt
Will it make its way back to zero . Seems to be part of the conversation building in markets. Barrelumped above 65 a as supply disruptions in iraq brought concern to geoPolitical Risk. With more is Annmarie Hordern. Detention we are seeing in libya and iraq come very different in nature. What is the impact of these on oil supplies . Annmarie they are both geoPolitical Risks to the oil supply. In libya, the government says we could go to 72,000 barrels a day. This has to do with the eastern military commander. He has a blockade now on the port, so actual supply is not disrupted. The market may be shrugging off a little bit because in days or hours, that blockade could be lifted. Iraq, while it is a minor disruption, which is producing more than 4 Million Barrels a day, it opens up a window of worry. Just last thursday, the iea says iraq remains very vulnerable. It is more about could the supply threatened become much bigger. Anna they are overproducing their opec target. Annmarie this c
Toomey why did the administration think it was worth renegotiating nafta . Was it that an unfair and balanced agreement . Was there a lack of reciprocity . Where the tariffs to high . No. To all of those questions. Nafta is a freetrade agreement. On 97 offs agricultural goods. No quotas. No obstacles. A to me is the epitome of free, fair, reciprocal trade agreement. Pennsylvania exports to mexico have grown. I think you can make a case that since nafta was signed in 1993, a lot has changed in the economy. We have this whole digital sector. Modernizing made sense. But that is not the reason they renegotiated nafta. Imports from mexico had grown more. And we have a trade deficit. A trade deficit with a country like mexico is insignificant economically to the u. S. That is not the view of the administration. Significantlyo diminish if not eliminate the trade deficit with mexico. That was the central motivating factor. That is why we have a lot of bad outcomes. It was the wrong intent in t
Thanks for the kind introduction and thank you for hosting this and giving me this chance to share my thoughts and have a conversation about what i think is an important topic. I appreciate everybody who came out, as well. I can, and one of the messages i get repeatedly from my staff, they like to take me aside, it doesnt mean you cant give a short speech and ill keep that advice in mind as i work through my remarks and look forward to the exchange with derek. So when i think of usmca, its a starting point about nafta. Why did the administration feel it was necessary to renegotiate nafta because that was the start of usmca. So was it that nafta was an unfair, imbalanced agreement or a lack of reciprocity or was it left that the tariffs left in nafta that they were too high and they were unacceptable obstacles to trade . No to all those questions. Nafta is a Free Trade Agreement and zero tariffs on 100 of manufactured goods and no quotas, no obstacles, and it me its the epitome of a fre
I think is an important topic and i appreciate everybody who came out this morning as well. I can tell you i take seriously the advice i get from my staff and one of the messages i get repeatedly from my staff, they like to take me aside and remember just because you cant give a good speech doesnt mean you cant give a short speech. I will keep that in mind as i work my way through my remarks and look forward to the exchange with derek. Lets talk about us mca. When we talk about this, it is worth having a starting point, a question about nafta. Why is it the administration felt it was necessary to renegotiate nafta. That is starting point for us mca. Was it nafta was an unfair, unbalanced agreement, or tariffs that were unacceptable obstacles to trade . Now to all those questions. Nafta is a freetrade agreement. 0 tariffs on 97 of agricultural goods, no quotas, no obstacles, the epitome of a free, fair, reciprocal trade agreement and since nafta was implemented, american exports from me