Business
Recession Risk, Supply Chain Pressures & Inflation
On Wall Street Week, Gillian Tett of the Financial Times and Peter Kraus of Aperture Investors discuss the global economy and the week in markets.
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“It is an incredibly technically-driven market,” says Max Kettner, chief multi-asset strategist at HSBC. He doesn’t see any kind of fundamental catalyst, outside of earnings, calming some nerves around concerns about artificial intelligence. He speaks on “Bloomberg Surveillance.”
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“Bloomberg Crypto” covers the people, transactions, and technology shaping the world of decentralized finance. Today’s guests: Blockstream Co-Founder & CEO Adam Back, Chainalysis Head of Research Eric Jarine, Jito Labs COO & Chief Legal Officer Rebecca Rettig, and Franklin Templeton Head of Innovation Sandy Kaul.
YouTube Chapters:
00:00 Crypto Markets opens
02:50 Adam Back, Blockstream CEO, on Bitcoin and Liquid Network
05:04 Blockstream’s Liquid Network Hack
06:00 AI and Crypto Security Risks
07:46 Bitcoin’s Quantum Computing Risk
09:49 Bitcoin’s Market Maturity
11:00 Adam Back on Satoshi Nakamoto Rumors
13:27 Eric Jardine, Chainalysis, on AI Agent Crypto Payments
14:04 Rise of AI Micropayments
15:34 U.S. Leads Agentic Commerce
16:58 AI Payments vs. Traditional Payment Rails
18:51 Crypto Policy After the Clarity Act
20:10 SEC, CFTC and Future Crypto Regulation
20:50 Agentic Payments and Stablecoins
22:54 Political Exchange: Crypto and Washington
23:57 Rebecca Rettig, Jito Labs, on Crypto Regulation
25:18 SEC and CFTC Rules After the Midterms
26:44 Clarity Act and the Ethics Debate
28:35 Why the Clarity Act Failed
30:15 Token Moment: Sandy Kaul, Franklin Templeton
30:43 Franklin Templeton’s Tokenization Strategy
31:40 Tokenized Funds and Agentic Payments
32:46 Tokenization and Traditional Finance
33:51 Competition on Blockchain Rails
35:15 Who Will Lead Tokenized Finance?
36:39 JPMorgan Expands JPM Coin to Ethereum
37:31 JPM Coin vs. Stablecoins
38:36 JPMorgan’s Blockchain Position
39:18 Stablecoins Disrupt Money Transfers
40:39 Immigration and the Remittance Industry
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The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Charles Schwab Chief Investment Strategist Liz Ann Sonders, IDC Senior Director, Data & Analytics Nabila Popal, Susquehanna Senior Equity Research Analyst Mehdi Hosseini, KPMG US Chair & CEO Tim Walsh, Envestnet CIO Dana D’Auria, Hirtle & Co Founder & Executive Chair Jon Hirtle, Gerber Kawasaki Wealth & Investment Management President & CEO Ross Gerber, Blue Sky Productions President John McElroy, & Porsche CEO Michael Leiters.
Chapters:
00:00:00 Bloomberg The Close
00:02:50 Liz Ann Sonders on AI, Bonds & Market Rotation
00:08:00 Fed Rate Hikes, Diversification & Investor Positioning
00:11:03 Smartphone Slump, Memory Chip Shortage & Rising Prices
00:16:00 KFC Drops Pepsi for Coke & Top Wall Street Calls
00:17:00 Top Calls
00:18:09 TSMC Earnings, AI Demand & the Chip Buildout
00:23:30 KPMG CEO on AI Investment & Corporate ROI
00:28:42 AI Jobs, Geopolitics & the CEO of the Future
00:32:14 Rocket Lab Delays Its Neutron Rocket
00:36:50 Markets Rebound as Treasury Yields Fall
00:41:06 Fed Chair Kevin Warsh, Inflation & Rate Policy
00:45:17 Closing Bell
00:50:37 Market Movers, J.B. Hunt Earnings & Consumer Pressure
00:54:03 Market Recap: Defensive Stocks & Falling Yields
00:57:30 John Hirtle on AI Investing & Portfolio Strategy
01:02:47 Private Markets, Venture Capital & Diversification
01:04:21 J.B. Hunt Earnings, Trucking & Driver Shortages
01:08:35 Tesla Roadster, SpaceX & Elon Musk’s Strategy
01:14:17 Tesla’s Future, Robotaxis & the Auto Industry
01:18:20 Porsche CEO Unveils New Supercar Above the 911
01:23:32 Porsche Pricing, China & Luxury Car Strategy
01:28:24 Porsche’s Transformation & Future Product Lineup
01:30:39 What to Watch: Tesla Roadster, Fed Chair & Economic Data
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.
On today’s show, AI jitters returned after the Korean data center firm Elice flopped on its stock market debut. Shares fell as much as 35% after its IPO, which raised $151 million.
Bloomberg has learnt that the AI cloud computing firm Nscale is in talks to sell computing power to Anthropic, in a deal that could be worth about $45 billion.
The German Chancellor Friedrich Merz has warned against complacency over the dangers posed by Russia, saying that President Putin is seeking to undermine democracy in Europe.
And tougher security measures, including an 11pm curfew in some parts of Paris and other cities, appear to have quelled violent protests in France for now. But unions have called for a strike next month, with more demonstrations planned for this Saturday.
Today’s guest: Ana Boata, Allianz Trade, Head of Economic Research
Chapters:
00:00:00 – Daybreak Europe
00:01:39 – Elice’s 33% Debut Plunge Rekindles Doubts Over AI Spending Boom
00:03:19 – Japan 20-Year Bond Sale Sees Record Demand
00:07:21 – Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
00:12:49 – Merz Warns Europe That It’s Underestimating the Russian Threat
00:18:31 – French Unrest Tapers Off After Security Measures Imposed
00:27:46 – Ana Boata, Allianz Trade, Head of Economic Research
00:34:39 – Ukraine Suspects US Blocking Intelligence on Russian Attacks
——–
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Fed Chairman Kevin Warsh described AI as potentially the most consequential change to the US and global economy in his lifetime, calling it a positive supply shock over the medium term. He spoke at an IMF event moderated by IMF Chief Kristalina Georgieva in Bangkok, Thailand.
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@sidewalker6003
December 23, 2023 at 10:26 am
the guy doesnt make sense and has less touch with reality
@NotABot007
December 23, 2023 at 10:26 am
This guy is in full denial.
@claradidi7573
December 23, 2023 at 10:26 am
When the markets like this, it’s your patience that gets tested more than your trading skills. Most of us get in to crypto for the fast & volatile markets but the ones who can sit on their hands & stick to the plan for months on end are the ones who will make life changing money.>
@networth8754
December 23, 2023 at 10:26 am
0:53 "We will have a persistent expansion accompanied by significantly higher interest rates and a reduction in the balance sheet" and if you believe this BS I have a stock tip for you. You have to understand the bias most of these talking heads on Bloomberg and CNBC have.
@khamlecksivongthong3954
December 23, 2023 at 10:26 am
No fixing by Us just let it happens.
@mikenelson7669
December 23, 2023 at 10:26 am
i wiLL forever be indebted to YOU,You've changed my life in the best possible way you can i will continue to hear your've saved me from a huge financial debts with just little investment,thanks so much Mrs Jessica Jackson?
@Reggaebeatman
December 23, 2023 at 10:26 am
Interest rares are going up as result of inflation due to self induced Covid supply chain disruptions, helecopter money, geo political risk, not because of a healthy economy? Once Fed tightens then that will cause demand destruction and recession and so they will need to cut again……and possibly more helecopter money.
@jon_nomad
December 23, 2023 at 10:26 am
I suspect the supply chain crisis is not real but staged by industrial suppliers to increase prices. Many major industrial suppliers are stockpiling goods but blamed the shortage on supply chain. On the short term they are not making much but on the longer term they will make huge margin gains. They can do that because they have a lot of liquidity in their coffers at this moment.
@hm-ys4ym
December 23, 2023 at 10:26 am
Stealing money from savers by using monopoly money has its repercussions.
@jchoi9340
December 23, 2023 at 10:26 am
Peter Kraus is a moron. Amazing to see someone say so much unintelligible nonsense. Everything he said was baseless gibberish. You know something is wrong when someone contradicts themselves over and over
@cliffaverell296
December 23, 2023 at 10:26 am
You have to be stupid if you honestly believe were not heading into a recession..look at the big picture…gas prices,,food prices, are all soaring..add to that rents,,there also going through the roof,and supply chain issues,,have you priced furniture in the last two yes..furniture has gone up at least 50% in just the last few years,,with china shutting down Shanghai,,more disruptions,, and supply restraints will again force retailers to continue to raise prices again,,gave you priced cars lately..or used vehicles..way up in prices,and things are going to get much worse and more expensive,,eventually its going to affect 65 % of the workers.people will stop spending,,and small retailers will shut there 🚪 doors..and the restaurants will start to feel the pain again when people stop going out to eat because there watching what they spend, big crash coming..it might take a yr or two but its coming..theres no stopping hyperinflation..
@financialm3771
December 23, 2023 at 10:26 am
Gillian gets it
@COVIDisA_HOAX
December 23, 2023 at 10:26 am
BUILD BACK BETTER HAHAHAHAHAH 81 MILLION VOTES HAHAHAHAHAHAH
@peaceandfreedomeconomics8984
December 23, 2023 at 10:26 am
Wages aren't going up. Wtf is Peter smoking??
@ElegantHipster
December 23, 2023 at 10:26 am
Peter wearing Xanadu as a neck tie. I like his confidence. Just like that dead person backing towards a selfie at the g canyon
@alexn1203
December 23, 2023 at 10:26 am
soon we see s&p 500 at 5300$
@pranjayarora8115
December 23, 2023 at 10:26 am
RUSSIA INTEREST RATE DROP FROM -20-17% USDRUBBEL BEARISH (2) CENTRAL BANK🏦 INTEREST RATE SIMILAR TO COMPANY RESULT TO TRADE FOREX WITH TECHNICAL INDICATORS(3) BITCOIN LIMITED FIAT UNLIMITED SUPPLY INFLATIONARY HEDGE WHOEVER INVEST 1 MILLION USD MINIMUM LIKE
@johngordon880
December 23, 2023 at 10:26 am
Really love to see Peter and all his plastic I'll gotten wealth slip off the edge and disappear forever.
@barfly1984
December 23, 2023 at 10:26 am
Before every recession unemployment is at record lows. What's more likely, unemployment goes even lower or starts to tick up? Side note – Bankruptcies up over 30% in March..
@sesi5289
December 23, 2023 at 10:26 am
I think Peter is playing Pollyanna to keep people put their money to stocks."Oh we don't have recession because Elon Musk buying twitter" rick guys buying a lot of things especially in the recession times ,what about poor guys Peter? he is talking nonsense
@hatsappme5271
December 23, 2023 at 10:26 am
Nice
@AppleiPhoneHelp1
December 23, 2023 at 10:26 am
Internet of Things will change the World !
@curtissjody5784
December 23, 2023 at 10:26 am
<<ADVICE >>
Inflation is killing my budget and my salary. I can't invest and it seems like I will need to sell a part of my portfolio to keep my head above the water this year.<<ETH, BTC>>
@chanellebeebee5066
December 23, 2023 at 10:26 am
The video content is so excellent, congratulations
@Kenneth_James
December 23, 2023 at 10:26 am
US is only letting inflation run because they let people get a bit of a raise. Gotta keep em poor
@ruthierod8276
December 23, 2023 at 10:26 am
Irrespective of the economic downturn this is the best time to invest in crypto and gold, and I'm glad I'm making some profits.
@srikark3532
December 23, 2023 at 10:26 am
At this point as per the data the U.S. is not heading for recession. But the Fed needs to access the data frequently for any signs of recession or stagflation and act accordingly. Even if Fed can bring down the inflation to 3% without getting into recession it is acceptable. Right now we need to focus around these three uncertain areas, supply chain disruptions, covid and Oil (due to war in Ukraine).
@usa9116
December 23, 2023 at 10:26 am
The sick man, Joe, will destroy our country!!!
@KJSvitko
December 23, 2023 at 10:26 am
The virus and the war in Ukraine are the two biggest factors driving inflation.
Once the virus is endemic and most people are vaccinated that risk will be reduced and things will open up.
The war in Europe will wake people up to the risks of depending on importing fossil fuels and Russia in particular.
Wind and solar energy can be produced at home and there is no need to import fossil fuels.
Time to go all in on wind and solar and electric vehicles.
@KJSvitko
December 23, 2023 at 10:26 am
The zero virus policy in China will disrupt supply chains around the world.
Long supply chains are a risk to the economy. Time to manufacture goods back home and reduce off shoring.
@JohnDoe-fb1uk
December 23, 2023 at 10:26 am
EVERYBODY is reaping EXACTLY what they sowed. ZERO EXCEPTIONS. ZERO EMPATHY.
@volodymyrcocainesky6318
December 23, 2023 at 10:26 am
Send more weapons please. We are winning here against the Russia! Ukraine is free for US. to investing your own future! I will win the War! and i will give all Russia oil to US. government. Thank to Joe Biden for take care Ukrainian people. 😀
@ahmedalsharman
December 23, 2023 at 10:26 am
We are not entering a depression not a recession.