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Jobs Report Is Good News for Economy: El-Erian

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Allianz Chief Economic Adviser and Bloomberg Opinion columnist Mohamed El-Erian says the November US jobs report is good news for the economy and the market has to think very carefully about the amount of interest rate cuts it’s pricing in for next year. He’s on “Bloomberg The Open” with Rick Rieder, BlackRock CIO of global fixed income.

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18 Comments

18 Comments

  1. @joealonzo536

    December 12, 2023 at 7:38 pm

    🙉The key to knowing the state of the economy. Question: Can I afford in the Biden administration what I could afford in the last administration? And the answer is: NO, you cannot. If you are living your life on credit, you do not even own your life.

  2. @ClassicFIHD

    December 12, 2023 at 7:38 pm

    National average for gas (gasbuddy) on the day Bungling Biden took office was $2.25.

  3. @ClassicFIHD

    December 12, 2023 at 7:38 pm

    Writers Guild of America strike ended in October, they went back to work.

  4. @jaemoon3593

    December 12, 2023 at 7:38 pm

    El-Erian was advocating for 3% inflation target. Or being critical of Fed. Meanwhile complaining that Fed didn't have a strategy.

  5. @miken7629

    December 12, 2023 at 7:38 pm

    No one deserves any credit for jobs numbers, this is a once in a lifetime fluke where Boomers, which make up 20% of the population, are retiring en masse creating job openings and job advancements all through the workforce as positions are filled. Boomer generation is creating a once in a lifetime opportunity for anyone that wants a job. Boomers, while only 20% of population (76 million people) own over 50% of the assets in USA, this is the way it should be because we have worked a lifetime and have more assets at the end of our careers than at the beginning. As Boomers start dying off en masse in 10-15 years, that 50% of assets will be passed on to our heirs, collectively trillions of dollars, so expect an economic boom in 2030's as Boomers inheritance gets distributed and spent/invested.

  6. @williamwallace6508

    December 12, 2023 at 7:38 pm

    hes been wrong for years

  7. @briantep458

    December 12, 2023 at 7:38 pm

    keep rates where they are, im good with single digit S&P returns

  8. @Infinite_P

    December 12, 2023 at 7:38 pm

    I am sure this jobs report was cooked to perfection and there will very no crazy revisions. We have amazing chefs.

  9. @drscopeify4582

    December 12, 2023 at 7:38 pm

    Its so funny how the market forces are like a horde they run in any given direction blindly. Things start to weaken a bit so they all rush to one side, then new data shows otherwise and the all rush to the other side…. Its just very entertaining to watch

  10. @Ebanaitamognaichozaderimonarin

    December 12, 2023 at 7:38 pm

    Когда вы все друг друга истребите ,а зачем вы все страны оружие производите ,без плена и капитуляций?!?!?

  11. @erichvonmolder9310

    December 12, 2023 at 7:38 pm

    Mr. El-Erian is positive? Stop the presses!

  12. @aishaalamoudi599

    December 12, 2023 at 7:38 pm

    soft landing.

  13. @2023gainer

    December 12, 2023 at 7:38 pm

    The AI sector hiring due to stronger global demand. * SOUN.. 20 % Increase month.. SoundHound. Now 220 Institutional Investors. EBITDA Up 57 % in 3rd qt. New Acquisition plans announced of SYNQ3 Restaurant Solutions adding 100,000 restaurant locations for Voice AI tech…* BBAI.. Big Bear AI….* NVDA.. Nvidia….* PLTR… Palantir.. AI Sector Winning in 2024.?

  14. @georgemaximus694

    December 12, 2023 at 7:38 pm

    Jobs report is good for the economy as long as it’s funded by government debt and household debt. The house of cards crumbles if these debt don’t get repaid. So just keep piling on these debt and we’re going to be just fine.

  15. @ssuwandi3240

    December 12, 2023 at 7:38 pm

    Exceptional Government Debts indeed

  16. @paulrobbo321

    December 12, 2023 at 7:38 pm

    Rick "U turn" Rieder

  17. @peterdangelo5882

    December 12, 2023 at 7:38 pm

    Cuts ? Let see this growth for 5 or six months. No reason to stimulate this economy

  18. @user-nc9pc3gr4c

    December 12, 2023 at 7:38 pm

    rate hikes haven't kicked in yet

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LIVE: Federal Reserve Holds Rates Steady | Special Coverage

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Federal Reserve officials left interest rates unchanged and pointed to improvements in the US economy as they signaled a more cautious approach to potential future adjustments.

Bloomberg TV analyzes the latest decision followed by Chair Jerome Powell’s press conference in Washington.

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Election Day: What To Know From Alaska

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Voters in Alaska are choosing between incumbent Republican Dan Sullivan and Democratic challenger Mary Peltola in the Senate race. Anna Edgerton reports
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Apple Sales Meet Estimates, China Is a Weak Spot

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Apple posted September quarter revenue that narrowly topped analysts’ estimates, even as sales in the key Chinese market fell short of projections. Revenue rose 12% to $114.5 billion during the fiscal fourth quarter, which ended Sept. 26, the company said in a statement. Analysts had estimated $113.5 billion on average, according to data compiled by Bloomberg. The quarterly report — the first under new Chief Executive Officer John Ternus — offered a mixed picture to investors. Sales growth decelerated from a 16% clip in the June quarter, and results from Apple’s iPad and wearables businesses were particularly weak. But the iPhone, the company’s biggest moneymaker, remained strong. Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, joins to discuss the results. He speaks with Carol Massar and Tim Stenovec.
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AI Boom Shows Cracks After US, China Earnings

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“Bloomberg: The China Show” is your definitive source for news and analysis on the world’s second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter.

Chapters:
00:00:00 – “Bloomberg: The China Show” begins
00:05:21 – China car, optics maker earnings disappoint
00:08:39 – Exclusive: Foxconn’s Michael Chiang on how AI boom will boost consumer electronics
00:13:39 – HSBC’s Joey Chew on FX markets
00:26:59 – Chinese investors pull back from Hong Kong stocks
00:32:58 – Exclusive: Envision’s Ricky Zheng on its Galaxy Campus in Inner Mongolia
00:47:59 – Asian chip stocks under pressure after Amazon, Intel outlooks
00:51:25 – BofA’s Matty Zhao on how the copper shortage will impact the AI buildout
01:00:31 – Exclusive: Foxconn’s Michael Chiang on expansion plans in India
01:04:15 – Christine Lagarde to leave ECB early
01:07:49 – Breaking: Binance estimates total impact of hack at $6.3B
01:11:27 – Rare mid-cycle change in China’s top leadership
01:15:42 – Breaking: Binance says no evidence of any wallet private key leak
01:20:03 – ETF IQ ASIA: Issuers rush to develop Anthropic-related ETF products
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Why Is Christine Lagarde Leaving the ECB Early?

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Bloomberg’s Alice Gledhill joins Scarlet Fu on “Bloomberg Real Yield.” They discuss the French bond market, and the decision by ECB president Christine Lagarde to resign on February 7, before the end of her term next October.
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