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Christina Hooper, Chief Global Market Strategy to Vetsco, thank you for joining us here this morning. Talk to us about the FED, talk to us about what happens in a Trump world.
So I think the FED was right to be very emphatic in saying that they're not going to guess, assume, speculate about what policies are coming down the pike and the timing of them. So at this point it's all about the data and what is actually showing up in the data today. Now there is some risk that inflation resurges, and that has absolutely nothing to do with who is sitting in the White House. So I think the FED needs to be super careful. And so I think the
FED is not necessarily going to cut in December. It is not a FEDA compley. It's going to be really dictated by what we see released in the next weeks before the meeting. I do think there's probably some caution in terms of worrying a bit about what could happen if we see a lot of Trump policies come to
fruition in terms of stimulating growth and higher inflation. But at this point the Fed is not going to act on it, and I don't think it will until it shows up in the data or it's reliable enough in terms of the scope and the timing that they can add it to their economic projections.
Well, Christina, I was listening to Bruce Casman over the weekend, he and Joe Lupp in at Any Rate podcast, the JP Morgan.
We know who they are.
You know they're talking about revising up growth expectations in the US, revising them down in the Eurozone and China. Do you agree with that and what is the impact on inflation from that?
Well, I don't think that that's wrong. I don't know if it's going to be as dramatic as we assume. I certainly think that US growth is going to be stronger. It has been stronger, So this would just be a continuation of a trend that we've seen, and it might get some kind of boost from Trump policies. Again, we just don't know the scope, we don't know the timing, we don't know what policies they'll focus on.
First.
I do think that the Eurozone could face some headwinds, but I do think that we're going to be as seeing a reacceleration and growth there as well. It's just not going to be as strong as in the United States. So I don't think it's as dramatic a situation. I don't think there's going to be that significant a change from what we anticipated months before the election.
Well, Christina, here's the disconnect for me. Like I agree with you, it's going to take time for fiscal stimulus to come through. It's going to take time, quite frankly, for the towers to come through, right because he's going to use that is negotiating to them by he I mean, you know President elect Donald Trump. But you know, sentiment is you know, not to be played with, not to be trifled with. If you follow me here, I mean, sentiment can start pricing this into markets far more quickly,
far more you know, rapidly than we otherwise expect. I mean, what's the potential for that to happen between now and the end of this year.
Oh, I certainly think there's the potential for that to happen. We're already seeing a very visceral reaction in markets. But I just want to draw the distinction between what happens in markets and what happens in the economy. We could see very well markets discount strong economy in twenty twenty five,
and I'm not going to argue with that. I do think we're going to see a reacceleration in the US, but I do think markets have a way of reacting very, very robustly sometimes to what they think will happen, and then there's a point where markets are likely to moderate. It's not dis similar to what we saw in twenty sixteen. We saw a very strong rally and some retracing, so
I would anticipate that's likely. But I certainly think we're going to see the exuberance in markets in a more distinct way than we will see show up in economic growth. Now that's not to discount that psychology plays a role that when sentiment is better on the part of consumers on the part of businesses, they spend more. And I also think we're just going to get a bump from
having election certainty. The biggest risk that was before going into the election, was that we'd get some kind of challenge, we'd have prolonged uncertainty. That's behind us. And so now all those spending plans and hiring plans that had been held in abeyance by companies, and all those spending plans that had been held in abeyance by consumers, that can start again, all.
Right, Christina, chief Global market strategist for Investco. Where do you go globally?
Here?
Knowing what we know?
So we certainly know that policy are going to be supportive for the US economy, but that doesn't necessarily mean that equity that economies outside the US are left out. Yes, we might see some headwinds in the shorter term, but I do think, as I mentioned, the European economy as well as the UK economy will reaccelerate next year. I think we could see a scenario where, especially if we work out the tariff issues quickly, where we see a
global economy that reaccelerates. And so that means investors need to be thinking broadly. It's not just about US equities, especially because valuations are so high. So within the US, I would add to exposure to small and midcaps, because I think those will benefit very much from the environment from fetising as well as Trump policies. And then of course, looking globally, I think there's a lot of opportunity in
lower valuation places UK equities, emerging markets equities. So I think we need to to be focused not just on growth, but on valuations, and that leads to diversification.
Emerging market equities. That is music from my ears. No no, no, I'm kidding. I'm kidding, you know, but I would love to ask you. I mean, obviously we can't ignore what's going on in currencies here, and we've come a long
way in a very short period of time. Initially, you know, we saw mechs, we saw the China yuon, we saw the Korean one all depreciate on the back of the Trump victory, and then you know, came all the way back almost right in the case of the Mexican peso, it actually appreciated for a bit there, and then Friday we kind of melted down and we continue to be melting down here. Christina, talk to us a little bit about what the dollar. Well, you know, what is it telling you here?
So what I think it's telling us is that there's a lot more to the currency picture than who is sitting in the White House. In fact, more is dictated by FED policy, and so I think we have to recognize that the US dollar is likely to weaken, but it's going to have different relationships with different made currencies, and it's going to ease more relative to some currencies than others, and that will play out over time as we see what other central banks are doing as well.
In addition to the growth picture, I think it's really important to recognize that you as a strong US economy doesn't mean that other economies necessarily suffer. So we have to just watch this play out. But to me, what it's telling us is that this is not just who's sitting in the White House.
All right, Christina, thank you so much for joining us. Christina Hooper, she is chief of Global market Strategist for Investigo, giving us her thoughts on these markets.
You're listening to the Bloomberg Surveillance Podcast. Catch us live weekday afternoons from seven to ten am. Easter Listen on Apple car Play and Android Auto with a Bloomberg Business app, or watch us live on YouTube.
Let's check in Zach Cohen congressional reporter. I don't know what he's doing down there. I mean, Zach, you still have some house races that have yet to be called. Where are we what's going on with those things?
Sure, Republicans are certainly the driver's seat at this hour. They've maitted at least three seats, you know, picked up a number of others. But Democrats have also flepped a couple of seats, for a total of plus three at this juncture. Obviously, the medic number to watches two eighteen on Bloomberg dot com, and right now they're hovering at around two fifteen at least, And so they're really on
the margin here. There's a couple of outstanding of races, mostly west of the Mississippi River, many of them in California, some in Iowa, Arizona, Alaska, even And so as those ballots continue to come in, especially a mail in ballasts that can arrive after election day, those need to be counted before some of these closer races can get called. And whether we find out whether in fact Speaker of Mike Johnson gets to keep.
The gabble Zach percent see some announcements out of the White House this morning at least Stepanek, for example, talk to us a little bit about you know, Trump's cabinet. What can we expect to hear over the next few days weeks, I mean, talk to us about US Treasury secretary.
Yeah, so certainly at least a phonic. The Republican from New York being tapped to be the ambassador to the United Nations, replacing Nickayhaley, who obviously ran against then former President Donald Trump now President elect Donald Trump and probably
was not going to get that role again. Somebody who sort of worked her way up through the Republican ranks, started off as a real moderate representing upstate New York, and eventually became what she would call ultra maga, very aligned with the Trump movement that seems to be paying offer her. All of Trump's Senate confirmable appointees will need
to go through the Senate confirmation process. However, he's been asking the next Republican leader, whoever that might be, whether it's John Thune, John Cornyn, Rick Scott, to kind of waive that process entirely and allow him to install cabinet and other appointees through what are called recess appointments, which are allowed under the Constitution. That remains to be seen
whether Congress would allow that procedure, that ectipedetic procedure. But all of that is going to need to happen pretty quickly come January.
Zach, give us a sense as we step back and look at this whole realistically, how much of a red sweep has it been for the Republicans And in fact, what can President Trump get done here, given that it has control of the Senate, appears to be at or close to control of the House. How much of a red sweep is it really?
I mean, the fact that Trump was able to carry all seven battleground states, with the addition of I believe Arizona last night or early this morning, certainly indicates that this was a Republican maybe not a wave. You know that we're sort of past the era of weave politics.
The fact that we're talking about a Republican victory potentially in the House that'll be determined by just a handful of votes, just given the fact that jerry mandering and partisan sorting, people voting with their feet to places like California or Florida depending on their politics, really makes it hard for either party to win. The kind of results that we saw back in the day where you know, regul would be able to win forty nine out of
fifty states without batting an eyelash. But certainly the fact that Trump will come into power, certainly with a Republican controlled Senate, means one for his efforts to overhaul the federal bench. He'll be able to appoint judges not just the Supreme Court, but also to lower appellate courts and federal district courts, you know, some of those benches that
make up the vast majority of federal litigation. Tom, So, certainly, either through recess appointments or through actual confirmation, he's got some power there.
Thanks Act. Tom Horman's been announced as the borders are and I'm looking at you know what, many believe Trump is about to embark on the largest deportation program in US history. Talk to me about that announcement, that appointment, What do you expect out of that?
Certainly I had to check if he was actually a point you know, nominated to be Secretary of Home mad Security, which is object to Senate confirmation, or if this is sort of a czar like position where he's named but with that you know, sort of limited power to promagate regulations that be able to do the kinds of things
that Trump is talking about. Some of this can be done via executive border I would expect, you know, within the first couple of days we see some of the return to Trump era policies around remain in Mexico or catch and release, so to speak. But certainly Homan and others are going to have some pretty vast power under existing statute to change current immigration law. Whether a Republican
lets send it, even a potentially narrowly narrow one. If you know, Dave McCormick doesn't hold on in Pennsylvania that race has been called, but apparently it's too close to call for some Democrats, then maybe we could see a confirmation fight if Susan Collins Lisa Rakowski have some concerns about any of these picks, so that'll be worth watching as well.
Zach, what's the to do list for Congress right now?
Certainly got to figure out government funding that expires in December, as we could another shut down fight on our hands if you've got Democrats who are hoping to lock in federal funding levels for at least the first nine months of the next Trump administration, and they'll be probably some Democrats some Republicans as well who'd want to go along with that, just to sort of clear the plate and allow Trump to come in set budget levels and come up for his own spending plan for the next couple
of years, although some Republicans certainly will want to hold off on that decision in order to give the incoming Trump administration the ability to set funding levels. Or the current fiscal year that started September thirtieth of this calendar year will likely see defense appropriations or actually be a defense authorization built military policy bill that passes every year
and has for the last sixty some midd years. That's usually a pretty bipartisan affair, and certainly Democrats are going to want to confirm as many judges as possible to the federal bench while they have unilateral control of that process. There's a number of vacancies, not at the Supreme Court level obviously, but for lower re pellate levels and at the district courts that they could see done with a simple majority, even if Trump wants to hold off on that.
Zach.
The US fixing can market is closed today, but the bond market villgilantes are far from dead talk to us about Treasury Secretary, Howard Lutnick. Is it going to be John Paulson, Glenn young Kin, Scott Besson? And you're a betting man, where do you place your bet?
It entirely depends on not just obviously true Trump wants as his secretary, you know, to be the primary ambassador for the American economy overseas, as Jenna Yellen has done, but certainly what the market will bear. In the Senate, as I mentioned, senator centers are coming in Republicans with fifty three seats most likely assuming this result in Pennsylvania holds and having flipped seats in West Virginia, Montana, and Ohio.
And so that gives him a pretty sizable majority to be able to confirm really whoever Trump wants in that job. And I could see somebody confirmed by January twentieth. Remember Congress comes in January third, and that's the beginning of the new Congress. Then there's a number of days before the inauguration of the next president on January twentieth, So it's not unusual for the Senate to start confirming nominees
for a president elect. So that way they can come in with their team in place, and I would imagine Treasury secretary and other cabinet appointees would fit the bill on that one.
Hey, Zach, thanks so much for joining us. Really appreciate it. Zach Ohen He is a congressional reporter for a Bloomberg government down in Washington, DC.
This is the Bloomberg Surveillance Podcast. Listen live each weekday starting at seven am Eastern on applecar Play and Android Auto with the Bloomberg Business app. You can also listen live on Amazon Alexa from our flagship New York State Just Say Alexa playing Bloomberg eleven.
Nick Stadneller joins us. He's in studio. He's had a product at Medley Global Advisors. He does this in Damien, called a merging mark. I ever heard of him exactly, Nick, What emerging markets do you focus on in Which is the most I think attractive to you at this moment?
Well, historically I've done the Senior region, so Turkey, the Gulf, Russia, Ukraine. I've spent quite a few years living in most of those places. But sort of over the last couple of years, I've been looking a lot more globally and in terms of what looks interesting to me right now. Quite frankly, I'm a bit worried about a lot of emerging markets right now. But I think if I were, you know, if someone held a gun to mind, why is that Well?
I think that the biggest risk that I see is an inflationary US and a deflationary China, and if both of those happened at the same time, it's going to be really bad for emerging markets for quite some time. But if somebody held a gun my head and said what do you like right now? I think I would probably be focusing more on frontier markets and further down the credit stream, so lower rated distress sovereigns in places like Sub Saharan Africa and parts.
Of Asia that's not like Mexico or Brazil.
That this yeah, I be talking about the dollar bonds, Paul. I mean, let's get into the nitty gritty here. I mean, let's first begin with the Central and Eastern Europe. Right, Let's talk about Hungary. Let's talk about victor Orbon He's first went to graduate Trump after he won. Let's talk about this rumor that Trump and Putin spoke just a few days back. And now I think the Krumlin's rejecting that. I mean, what's up, what's down, what's going on in your region?
Well, I think the situation with Orbon and Hungary is a bit mixed, because, of course, Orbon's thrilled to see Trump win. They share a lot of political ideas.
And they share a locker tamarack non and.
I'm sure that Trump would be very supportive specifically of Orbon when he can. But the fact is that Trump is much euroskeptic, a skeptic of the Transatlantic Alliance, and there are a lot of worries about the Euro and the US relationship with the European Union and the Hungarian Foreest, you know, Czech and Poland. Those are all sort of high beata versions of the Euro and very closely tied
to the fates of the Euro. So the irony is, even though or Bond really you know, supports Trump, it's probably not going to be very good for financial markets in Central Europe. And you're starting to see that filter into two currency prices there.
And what about the impact of the German coalition, you know, falling out of bed here. I mean, like there's got to be an impact on some of these periphery markets like Poland, like Remania, Hungary, the Czech Republic, I mean, any sort of spillover from that.
Well, I think right now it seems sort of minimal. One of the weird things that's happened is German boons are starting to trade through Euro interest rate swaps, which suggests sort of, I would say, a thing in the financial market conditions for the European bond market, and that sort of thing always filters in and the higher risk, the emerging sort of periphery of the EU is always
going to suffer. But in the in the short term, I think, you know, a little bit of domestic political instability in Berlin is probably not going to throw the European Union off its rails.
Now for our audience who's not following that, but we're seeing our swap sweads in the Eurzone, specifically shats spreads to your swap spreads in Germany narrow. We're seeing a little bit of a little bit of disruption and the plumbing of the European fixed income market right and the funding markets, and what we look at our European swap spreads, specifically German shats to your swap spreads, which is German.
It's the spread between Europe.
It's it's the spread between European swaps and basically the underlying bonds, and what you've seen are them narrow as the bond market is effectively sold off.
Right. So I've been on Wall Street for thirty five years. I've never heard that once before.
I mean, you have to be looking at this. I mean, this is like looking at the plumbing of the US market, right, But I mean, really where we are, Nick, I mean, is you're talking about, you know, financial conditions tightening in Europe, right, and so what does that mean? I mean, does that mean that you know we're going to see more stimulus out of the Eurozone or is that something we could be waiting for as well here in the US.
Well, I think at the margin, it increases the chances that the European Central Bank is going to have to cut a bit more aggressively. But the history of European policy makers is that they do the bare minimum after they're absolutely forced into it. So I wouldn't get too preemptive and call a very bold move from European central bankers quite yet.
So let's shift a little bit and look a little further sap into the Middle East and look into Israel. I know that's right in your wheelhouse as well. Let's look at what's going on in the golf region. I mean, any thoughts there, I mean, what does a Trump administration mean for the Middle East, for Saudi Arabia, for some of these other markets.
Well, Trump and his family have cultivated very strong ties with the Saudi leadership and other senior golf officials around the region. So I'm sure in a lot of golf capitals there's a lot of celebration going on about the
process backs of a second Trump presidency. But ultimately, I think the complication that you have with Israel and the fact that you know, since since the conflict began with Hamas and the more recent conflict with Iran, the Saudis have have sort of got cold feet about the idea
of normalizing relations with Israel. So it's going to be very difficult for Trump to keep all of his friends and partners in the Middle East happy, continuing to support Israel, which he's unequivocally said that he will do, while at the same time trying to brooker some sort of deal between Israel and Saudi. It's kind of a tough climb, so I'd say expectations are pretty high. But more broadly, I think that you know, the Gulf will definitely bask in a moment of good relations with the US.
Here, what's the what's your call on China? Here?
My call in China is kind of like what I said about the European authorities earlier, is that the Chinese and I don't think it's that the Chinese officials are slow to react, is just to have a very different reaction function, and so they will continue supporting the market. The Pollup Bureau is quite clear that they're going to draw a line under house prices. But this is a balance sheet problem. And the balance sheet problem is you have a slumping stock market and more importantly, a slumping
property market, which is really eating into consumer confidence. And the Chinese consumer, even before all of this happened, was not an aggressive leveraged.
Play.
You know, at Chinese consumers have always been big savers and very conservative. The government needs to get asset prices moving in the right direction to get confidence going to get consumer spending up in China, and that's going to take time. And I think the way investors think about this is okay, and now it's a big bazooka today, and then in a month or two Chinese consumers are going to spend again and everything's going to be fine. This is a multi quarter, if not multi year, balance
sheet problem the authorities are trying to solve. They will do it, but they will do it on their own timeframe, and I think investors are going to be disappointed by how long that takes.
Nick last question thirty seconds here. You know, at the outset of our conversation, you mentioned, you know, Sub Saharan Africa, right, some of these frontier sovereigns which are all dollar bonds. But I mean the spreads on those dollar bonds have come in quite considerably, right. I mean, if you look at the EM distressed, the both of EM distressed index, it's up sixty percent year to date, largely because of spread compression in the sovereign space, high yield to overeign space.
Just how much juice is left in those bonds really.
Well, probably not another sixty percent. But I think the story for why the outlook is I think pretty good going forward is one you know, you're seeing ongoing reforms and improvements places like Egypt, which is up there, not Sub Saharan, but in northern Egypt. You know, you're continuing to see good reforms, and I think they're also a little bit less exposed to dollar higher dollar yields because
rates are already so high. They move up another fifty hundred, two hundred basis points, it's not going to.
Kill them, all right, Nick, thank you so much for joining us. Nix stad Miller, head of Product Medley Global Advisors. They're out there in Milwaukee, but he's here in New York City, and there's no way you're getting this dude from like Saudi Arabia where he was to go to Milwaukee. It's a great town though, By the way, Nick tid Man, thanks so much for joining us.
This is the Bloomberg Surveillance Podcast. Listen live each weekday starting at seven am Eastern on applecar Play and Android Auto with the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg terminal.
All right, folks, you detly look at the front pages around the world, Lisa Matteo, front pages in the newspapers. What's going on out there? All right?
Have either of you ever taken a cruise to like Norway or like some of these cold Arctic like destinations.
No, but no, I'm thinking about it. I'm thinking about a cruise coming up in the fall.
Okay, so here's the thing. Okay, travelers are paying well, I don't know if you're gonna pay this, but ten thousand dollars for seven nights day on this luxury vessel. You see Wales, Wallas is bears right. But climate change, this is from the Washington boasts. They say it's starting to change things. The rapid ice melts. It sparked this polar cruise boom, like more people going because it's opening up these easier paths for the boats to get in around.
It's extending the season. But at the same time, it's also melting the attractions that people want to see. So you have certain places where they may not be having these cruises for very long because a few decades from now they might not be there. So that's a change that they're starting to see. But it's pretty pricey.
I mean, I've never been on a cruise. To be honest with you, I mean, Lisa, I mean, I mean talk to me about you know, that whole beauty of being on a cruise in a post pandemic environment that they still have the buffet special with unlimited from cocktail. I mean, you know that's just so healthy.
I have not done one yet. I know I've been meaning to, but I'm telling you it's the Arctic is the way to go for a lot of these. That's what they're saying.
But experience.
Charlie Pellett is our cruise person.
Oh that's great. You got to ask him if he's been a whole cruise in Norway.
Cruise anywhere. Like he takes a cruise to go see the oil riggs in the northern Atlanta. Like there's three people in the cruise ship and he's one of them. So anyway, that's our Charlie pell What else you got? All right?
So have you been to any of your kids?
Yeah?
Parents weekend? I know you have a son. You have a son too that's in college. Well, now more parents are actually joining in on the festivities. We're talking jell shots, beer pong, flip cup. They're taking part in all the festivities. This is in the journal. A lot more parents they say they want to party, their kids say that they're cool with it. They start drinking at eight thirty in the morning because you know, the football game start at noon. And the thing they do, say they pass on is
the cheap beer. So they bring their own mini bottles of Tito's in their little fanny pack.
So they so long that I can relate to. But I mean put.
Their own little, you know, cocktails in their water flasks. But some parent, you have the flip side. Some parents are saying, no, it's not right, like you got to be a parent.
So Miami didn't have Parents Weekend this weekend, but Tulane University did, and yeah, shout out to Robin Hober and Little kings Lane Rodbrick, New York. I got to pick of her on a mechanical bull this weekend. So let's just be clear. You know, you're not You're not too You're never too well to get out a mechanical bull in New Orleans.
Oh yeah, yeah, So, I mean parents are getting into it's probably hey, I'm paying a good.
A lot of them are saying they just they want to relive the golden years. Maybe no, you got to bring along the tumbs.
I'm saying, if you're.
Going to trip like that, this is something right up your alley.
Paul.
So this is in Bloomberg screen Time newsletter has to look inside Netflix's move into live programming. So we've been hearing more about it right the past couple of years. Live cooking shows, tennis match, hot dog eating contest, comedy special, football games, wrestling and you know, in a few days you have that boxing match between Jake Paul Mike Tyson.
That's the big draw. But some people are saying it's weird because Netflix kind of created this streaming service as an alternative to live TV, but it's all about advertising. Like a lot of its customers pay more to avoid the ads, but with live programming they can put the advertgeers in front.
Of all the right. That's I mean, it's just kind of you know when you think about the the ad dollars, you know, shifting from traditional media broadcast network's, cable network's going to streaming. It's just a matter of time before the streaming services. I meant sport.
This is right in your wheelhouse, Paul Sweeny, and I mean for me, I mean, Netflix is just eating everyone else's lunch. And we have Walt Disney earning it's coming in on Thursday. You know, Walt Disney better than most. I mean, what do you expect out of that?
I mean it's yeah, I mean Walt Disney Company has become a basically a theme park company. That's a you know, more than half of their operating profit, and so we'll have to see it. But again they're trying to navigate the migration to streaming. All I know is I did not watch the Penn State game, the white Out game on Saturday evening because it was on Peacock. I'm like, I'm just not going there. I mean, I got enough things hitting my credit card. I'm not going to Peacock
to watch Penn State. So you know, Dan ives prince was the principle. Yeah, exactly out of Princeville principle. Exactly what do you have?
All Right? So we talked about, you know, the parents living it up at colleges drinking. But now we have wine makers. This is on the flip side. They're going to the younger, health conscious drinkers. So they're making more wines with less alcohol and fewer calories. You've seen the popularity, right, the hard selsers really got it. But the Wall Street Journal is saying, okay, overall wine sales, they've declined for a thirty year in a row. But you have the
light wine category. It's actually increased two hundred and nine million in sales twenty twenty four from sixteen million in twenty nineteen.
Light wine.
Light wine, they're about fifteen dollars a bottle. You know, it goes about eighty calories as opposed to one hundred and twenty calories. It's usually white wine because the red wine is a little bit tougher because it already has more alcohol and more sugar in it. But they do it. They don't just add water, so they're not just diluting it. They're using this disolation process to remove a portion of the article of the alcohol. But some people are saying that the taste, I don't know, all right.
So this company in Woodville washing the stale Washington. The company removes alcohol from thirty percent of the finished wine and combines it with an unaltered wine to preserve the taste. About a quarter fires become returning customers, according to the survey.
Paul Sweenia, I'm fifty years old, and for the better part of my life, people were trying to figure out how to inject more alcohol into a sip. Of yes, into a beverage, and you know, and it's kind of like the it's kind of like the rest of the world. The US. We've been on a globalization path. Now we're getting more into a nationalistic plant. We're sort of cutting off our relationships with everyone, and now we're cutting off all the alcohol. I'm strusted. I just don't even know.
I don't know what to do.
I don't I don't mind the idea of it, you know, because then you can have like a second glass without fiel and guilty.
I mean, there's light beer, so I guess why wouldn't there be a light wine?
Yes, but it's usually the white. The white wine is easier. But yeah, that's that's the new trend. I'm gonna have to check it out.
I doubt we're going to get a light jamison now happening. My friend's over in Ireland. Yeah, so all right, Lisa Matteo with the newspapers.
This is the Bloomberg Surveillance Podcast, available on Apple, Spotify, and anywhere else you get your listen live each weekday seven to ten am Eastern on Bloomberg dot Com, the iHeartRadio app, tune In, and the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg terminal