Business
El-Erian Surprised Bond Market Hasn’t Broken
“The thing that has really impressed me is that nothing has broken,” Mohamed El-Erian, Bloomberg Opinion columnist said about the bond market on “Bloomberg Surveillance.”
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OpenAI shared several undisclosed incidents of its AI models misbehaving, further fueling public concerns about the speed of growth of AI. Bloomberg News AI Reporter Shirin Ghaffary explains what OpenAI and others are doing to try and ease those fears. Plus, markets saw a rebound Thursday after falling the day prior on the heels of the Federal Reserve hiking interest rates. Principal Asset Management’s Chief Global Strategist Seema Shah discusses what’s happening in the bon market. Then, Citi Head of Global Government Affairs Candi Wolff previews next week’s meeting between President Trump and China’s Xi Jinping. Finally, Bloomberg Intelligence US Homebuilding Analyst Drew Reading discusses the rising mortgage rates and the impact on homebuilder sentiment. All on the latest episode of “Bloomberg Businessweek Daily.”
OpenAI shared several undisclosed incidents of its AI models misbehaving, further fueling public concerns about the speed of growth of AI. Bloomberg News AI Reporter Shirin Ghaffary explains what OpenAI and others are doing to try and ease those fears. Plus, markets saw a rebound Thursday after falling the day prior on the heels of the Federal Reserve hiking interest rates. Principal Asset Management’s Chief Global Strategist Seema Shah discusses what’s happening in the bon market. Then, Citi Head of Global Government Affairs Candi Wolff previews next week’s meeting between President Trump and China’s Xi Jinping. Finally, Bloomberg Intelligence US Homebuilding Analyst Drew Reading discusses the rising mortgage rates and the impact on homebuilder sentiment. All on the latest episode of “Bloomberg Businessweek Daily.”
Chapters
00:00:00 Bloomberg Businessweek Daily
00:02:19 Markets Rally as Oil Prices Fall
00:04:14 OpenAI Discloses AI Misalignment Incidents
00:06:31 AI Safety, Regulation & Industry Oversight
00:10:03 Fed Rate Hike & the Market Outlook
00:11:26 What’s Next for Interest Rates?
00:12:50 Midterms, Data Centers & Market Volatility
00:15:13 Earnings Become the Next Market Catalyst
00:16:52 Treasury Yields & Higher Borrowing Costs
00:20:44 Russia Sanctions & New Tariff Authority
00:23:01 Trump-Xi Summit & U.S.-China Trade
00:24:22 U.S. Delays New Capacity Tariffs
00:27:12 Canada, the EU & the Trade War
00:28:23 Crypto Regulation After the Clarity Act
00:29:37 Iran War, Oil Prices & Affordability
00:34:30 Housing Market Struggles as Mortgage Rates Rise
00:36:18 Homebuilders Face Affordability & Inflation Pressures
00:40:01 Mortgage Rates Top 7%
00:43:04 Stock Movers: Generac & the AI Data Center Boom
00:45:25 CoreWeave Falls on New Fundraising
00:46:22 Tokenized Stocks Boost Securitize & Coinbase
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“The market became addicted to knowing what the Fed was going to do. What Kevin is doing right now, he’s trying to get the market off the addiction,” says IBM Vice Chairman Gary Cohn, as he discusses market reaction to Federal Reserve Chairman Kevin Warsh’s handling of the US central bank.
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Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.” For up to the minute market intelligence and insight, click MLIV ＜GO＞.
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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Jess Menton, Carol Massar and Tim Stenovec.
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US equity futures and Treasuries are finding relief as traders wait for the Federal Reserve’s latest interest-rate decision, potentially hiking for the first time since 2023. European Commission President Ursula von der Leyen asks Canada to become the EU’s first associate member. Citi’s chief US economist Andrew Hollenhorst joins “Bloomberg Brief” to discuss why he expects a “dovish hike” from the Federal Reserve.
Chapters:
00:00:00 – Bloomberg Brief Begins
00:01:04 – Global Market Check: Asian Stocks Snap Four-Day Losses Ahead of Fed
00:02:04 – European Markets & UK Inflation
00:03:08 – US Futures & Treasury Yields
00:04:01 – First Look Movers: Intel, Travel Stocks & European Movers
00:05:32 – Market Brace for the Fed, Central Bank Rate Expectations
00:08:11 – EU Proposes Associate Membership for Canada
00:12:16 – Anthropic, Trump Administration & AI Safety, OpenAI, Anthropic & the AI Funding Race
00:16:26 – Crypto Regulation & the Failed CLARITY Act
00:19:26 – Front Page News
00:20:58 – Bloomberg Brief: Markets & Top Stories
00:22:11 – First Look Movers
00:23:23 – Andrew Hollenhorst, Citi Chief US Economist, on Expectations of the Fed Decision, Fed Credibility, Inflation & Further Rate Hikes
00:29:09 – Canada-EU Associate Membership Explained
00:32:48 – Trending on the Terminal
00:35:01 – Crypto Bill Fails in the US Senate, US-China Tariffs & AI Regulation
00:38:29 – OpenAI’s $1.2 Trillion Valuation & Funding Talks, AI Spending, Safety & Regulation
00:42:02 – What to Watch
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@jamesjeff4952
December 12, 2023 at 9:19 am
Getting there gains before the crash 💥
@AD-cy6br
December 12, 2023 at 9:19 am
its because they print money behind the scenes. buy bitcoin.
@method341
December 12, 2023 at 9:19 am
When is Mo 'No Clue' El-Erian going to retire?
@KK-qc5ct
December 12, 2023 at 9:19 am
Powell power!!
@praveenspike
December 12, 2023 at 9:19 am
Breaking and crumbling are 2 different scenarios, right now everything is crumbling so it takes time. Like I said before patience is a virtue.
@justneal99
December 12, 2023 at 9:19 am
Nothing's broken because of BTFP. If the Fed doesn't extend this program, something will break.
@hRt42kuo7jTtmk14
December 12, 2023 at 9:19 am
Nothing broke? Really? Except 3 mid sized regional banks went under and you could have more in Q1 2024 when the commercial real estate loan defaults start stacking up.
@unclejames1410
December 12, 2023 at 9:19 am
He is always pessimistic on the market. His interviews have not helped average investors.
@peterdangelo5882
December 12, 2023 at 9:19 am
Saudis where complaining how the markets are being manipulated. Yes, yes they are. Inflation is higher then gov is letting on – they just keep screwing with the measurement (24 month look back average to 12 month look back on data). Things are worse than you think. Can't let rates go any higher or its all over. So inflation is coming down even though its not. 33 Trillion in debt and no way to fix it and still printing money for wars overseas (Chase and Blackrock looking at 400 billion contract to rebuild Ukraine when war over) – WSJ just noted that over the past year foreign bond buyers went from what around 46 percent to about 34ish. Why because gov is not paying the rate they should be. The narrative is baked – transitory, soft landing, Fed threading a needle – yeah right. Enjoy.
@wallstreettitan
December 12, 2023 at 9:19 am
Daddy
Powell keeping it alive
@christiancoronado
December 12, 2023 at 9:19 am
Mohamed wants you to drive an EV, an inflation target higher than 3%, and he believes that bitcoin is a good long-term investment because he is unhappy with how the FED manages the money supply in response to the fiscal insanity from Washington. he doesn't care how much you pay for food, rent or gas. All his fanboys will say that he is so smart, articulate, and well endowed.
It would be catastrophic for the MIDDLE CLASS if he was chairman of the FED
@MegaPapa8888
December 12, 2023 at 9:19 am
??? What does it mean? Bond rates will fluctuate up and down like yoyo?
@2023gainer
December 12, 2023 at 9:19 am
AI Sector Surging in 2023…* SOUN… SoundHound…Up 25 % wk…* PLTR… Palantir….* BBAI.. Big Bear AI….* NVDA Nvidia. 3rd quarter Earnings Call Beats keep coming for AI sector stocks in Nov…* IDAI.. T Stamp…* GFAI.. Guardforce AI…* AI C3ai.
@LivingWithGout
December 12, 2023 at 9:19 am
15 years of QEs
@illegalsmirf
December 12, 2023 at 9:19 am
He's vewy, vewy supwised that the bond market hasn't bwoken yet.
@8088I
December 12, 2023 at 9:19 am
👍Because, Biden is,
"Steady as she goes!"
@vijjreddy
December 12, 2023 at 9:19 am
YES, QUITE SURPRISING REALLY, BUT THAT DATE IS NOT FAR AWAY – ESPECIALLY IF CONGRESS KEEPS ON DOING THINGS AS THEY ARE DOING NOW… HAVE PET PROJECTS TO GET FUNDING, LOOK AT WHAT KIND OF FUNDING HELPS SOME FACTORIES IN THEIR CONSTITUENCIES EVEN WHEN SUCH EXPENDITURE IS OF NO USE FOR COUNTRY IN GENERAL
@fadyzalzal870
December 12, 2023 at 9:19 am
Helicopter money has kept the economy from collapsing until now.
@PassiveIncomeLivingChannel
December 12, 2023 at 9:19 am
El-Erian is one of the greatest wealths of knowledge alive today.
@egyoac
December 12, 2023 at 9:19 am
Service sector must cool down. The inflation there is sticky indeed