Business
Trading Floors Make a Comeback in Japan
With the Bank of Japan slowly loosening its grip on Japanese government bond yields, the country’s investment firms are scrambling to prepare for an era of higher interest rates and volatility. That also means the return of physical trading floors. Bloomberg’s Kurumi Mori checked out the buzz at one brokerage in Tokyo.
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Federal Reserve Chairman Kevin Warsh warned inflation isn’t meaningfully slowing, but vowed policymakers will return inflation to their 2% goal. Bloomberg News’ Economics & Policy Correspondent Mike McKee is in Jackson Hole where Warsh gave his first speech since becoming chairman of the Central Bank. Brooke May, Managing Partner at Evans May Wealth, also reacts to Warsh’s inflation vow with some skepticism. Then, Linamar Executive Chair Linda Hasenfratz discusses President Trump’s tariff threats on the Canadian cars and auto parts, saying if a 50% tariff is imposed by next year it would bring the industry “to its knees.” Finally, Affirm Founder & CEO Max Levchin explains how his company sets rates and keeps up with a growing industry, arguing Affirm’s transparency makes it stand out from competitors.
Chapters
00:00:00 Opening: Jackson Hole Fed Friday
00:02:13 Market Update: Stocks Fall, Yields Rise
00:04:19 Kevin Warsh’s Inflation Warning
00:05:44 What Warsh’s Speech Means for the Fed
00:07:15 Could the Fed Hike Rates in September?
00:08:03 Jackson Hole, Lisa Cook & Jay Powell
00:11:20 Investor Reaction to Warsh’s Speech
00:12:45 Can the Fed Really Get Inflation Back to 2%?
00:16:15 Midterms, Markets & $7 Trillion on the Sidelines
00:20:58 Canada Retaliates With New U.S. Tariffs
00:21:42 Linamar on the U.S.-Canada Auto Trade War
00:23:16 How Auto Tariffs Could Hit Consumers
00:24:24 Trump’s 50% Auto Tariff Threat
00:26:03 Could Tariffs Shut Down North American Auto Production?
00:27:24 Can the U.S. and Canada Reach a Deal?
00:32:35 Market Update: Stocks Slide, Yields Jump
00:34:19 Affirm CEO on the Health of the U.S. Consumer
00:36:01 What Consumers Are Financing With Affirm
00:37:50 Affirm vs. Credit Cards & Klarna
00:39:27 Affirm’s Bank Charter & In-Store Expansion
00:43:20 Stock Movers: PayPal, Affirm & BioNTech
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Highlights from Bloomberg TV as contributors shed light on how rising energy prices are driving bond yields higher across markets and traders reposition in anticipation of further challenges. Meanwhile, the yield on 30-year US government bonds have climbed back to levels seen just before Treasury Secretary Scott Bessent expanded a buyback program to contain long-term borrowing costs.
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Volkswagen’s supervisory board backed a restructuring that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint. The new staff cuts represent about 8% of VW’s global workforce as of the end of last year. Bloomberg’s Danny Lee reports.
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As Big Tech surges toward trillions of dollars of planned AI spend, a key cog in credit markets is showing signs of pressure. Bloomberg’s Tom Mackenzie explains.
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David Bianco of DWS says long-term Treasury yields and real rates have climbed to some of their highest levels in nearly 25 years, but he argues inflation is not the main driver. The bigger issues are structural: US deficits above 6% of GDP, a rising total debt-to-GDP ratio, and the need to fund more borrowing domestically as foreign demand becomes less reliable. The US still benefits from the dollar’s safe-haven status, but Robin Brooks of the Brookings Institution and former Dutch Finance Minister Sigrid Kaag warn that America’s fiscal path remains dangerous even if its “exorbitant privilege” gives policymakers more time before markets force discipline.
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@BUY_YOUTUB_VIEWS_673
December 25, 2023 at 1:43 am
I wasn't a big YouTube watcher until I stumbled upon your channel.
@randomdude7384
December 25, 2023 at 1:43 am
"Never take your eyes off the markets."
@randomdude7384
December 25, 2023 at 1:43 am
Videos like this ones are one of the reason I love Bloomberg.
Don't ever change.
@lab-virus
December 25, 2023 at 1:43 am
You gotta be kidding me, do they not know what a price ladder program is? Writing bids and offer on a white board? LMAO, what kind of archaic ritual is this? 😂
@yukidejesus1956
December 25, 2023 at 1:43 am
in short, japan isnt ready to make new changes..staying in the old ways and not adopting to new tech. good luck.
@Zero11_ss
December 25, 2023 at 1:43 am
Why tf they dont use computers like everyone else lmao
@briantep458
December 25, 2023 at 1:43 am
how can some of the smartest people be so far behind?
@user-hb2ku5oq5r
December 25, 2023 at 1:43 am
Don't worry¡¡Be Happy¡¡Relax…
@zipzikin7084
December 25, 2023 at 1:43 am
i must work there
@authoredens581
December 25, 2023 at 1:43 am
more like 1860s
@arafat464
December 25, 2023 at 1:43 am
Japan has been living in the year 2000 since 1980…
@albertB215
December 25, 2023 at 1:43 am
Going full retarded it seems
@TheErtsj
December 25, 2023 at 1:43 am
Another silly puff piece on Japan!! 🤣
@RechildaPanizares
December 25, 2023 at 1:43 am
Thank you for sharing. Financial education is crucial today, and a buy-and-hold strategy may not be effective. Paula Hunstell program taught me a lot about trading and improved my financial situation. Using trade signals generates competitive returns and stability. Time in the market vs. timing the market helps investors stay calm. Since I started, I've been making more money and seeing positive results.
@sitrakaforler8696
December 25, 2023 at 1:43 am
Physicless word aka 100% virutal world is may be not the solution and may be we need more physical interactions !
@Kessoku
December 25, 2023 at 1:43 am
tf? 🤣
@Okahui
December 25, 2023 at 1:43 am
then thats just badly managed at this point right
@swedesam
December 25, 2023 at 1:43 am
the roaring 80's making a comeback.
@koonsickgreen6272
December 25, 2023 at 1:43 am
oh man this so interesting.
@teeKayNW
December 25, 2023 at 1:43 am
Japan so clean but the gov buildings look disgusting. The fish rots from the head
@mikedavis6266
December 25, 2023 at 1:43 am
they write quotes on a board? Do they communicate via typewriter also?
@Kevin-Schmevin
December 25, 2023 at 1:43 am
That's the gayest and dorkiest thing I've ever seen…
@Keitoox
December 25, 2023 at 1:43 am
It's fascinating to see the resurgence of physical trading floors in Japan! With the shift in interest rates, it's like stepping back into the heart of finance history. Kurumi Mori's insights in Tokyo's brokerage scene make this comeback truly exciting to witness firsthand!