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Single best idea on Apple podcasts and thank you for your attention. We're moving this out on Twitter and LinkedIn. Look there for you know, announcements about it. But the best thing to do is subscribe to Apple podcasts. An eventful day, any number of ways to go here. I thought that David Gerr was outstanding on the NATO angle into all this uproar about President Biden's health. Greg Valier
was very timely there, particularly about the convention overlay. We're really coming up on the Republican convention the suire in Milwaukee, I believe July fifteenth. We'll look for that and then Wendy Schiller will get to in a moment. But first we do economics, finance, investment, investment, investment, and like all of financial media, I underplay municipal bond, which is really
really dumb. Municipal bonds are extremely important. You get a tax advantage at the federal level, you may get a tax advantage at the state level, and you get a tax advantage perhaps at the city level, like New York City, where we say it's triple tex free. An expert on this a true legit expert is Craig Brandon. He's out of Eaton Vans of Boston, who helped invent the industry. James Gorman and Morgan Stanley took out eating Vance and what all A claimed to be a successful transaction, bringing
over the intellect of people like Craig Brandon. Here, Craig Brandon, I'm taking advantage of tex free bonds.
The way I look at fixed income the way I look at Munie's. Tom, You're a hockey guy, right, So football, you have your plays, right, you have your playbook and you have your long your plays in Munie's. In fixed income, it's it's more like being a hockey coach where things change so fast. So if you're an individual investor, buy and hold. We're looking at how the market changes. I
mean the market changes every day. Look, you know, later today we have you know, the Fed chairman speaking in Congress. We have CPI can coming out later this week for active management. You know, the MUNI market tends to be very correlated to treasuries because for the most part, it's a high quality asset class with a little bit of duration in it. So you know, when the treasury market moves, UNI's really with it, and I think that as a retail based asset class, retail moves when the FED moves.
So we talk about flows, you know, we we had a lot of outflows in twenty one, a lot of inflows in twenty one, we had a lot of outflows in twenty two. We've been sort of flatish for the last couple of years.
Craig Brandon there with Eaton Vance, Morgan Center. I'm sorry he's more with Morgan Stanley, but I'll always say he's with Eaton Vance. My parochial parochial narrowness is well, those are really interesting conversation. I promise we'll do more on municipal bonds and if someone with really the decades of experience such as Craig is is important on the politics of the moment. We could have easily picked four or five six tapes, but there's nothing like the holistic knowledge
of Wendy Schiller at Brown. She has just been a huge promotion at Brown. Brown has chosen to rebuild out their already successful international relations into a substantial new project. She is spearheading that project for Brown University, and where those new duties were just humbled that she can spend
time with us. You know, she gets some political flak, I'll say the least, but I think for Republicans, Democrats, and those unaffiliated, Wendy Schiller is always interesting on the cacophony of the day, Professor.
Schiller, I'm looking at the difference between our daily lives and the functioning of the federal government and Biden's capacity. Understand, it's a reasonable question to ask for an eighty one year old president who had a disastrous debate and shows signs of aging. There's no question it's fair game. But most Americans want to know is the government working or is the government not working? And you know, you're talking about inflation, we sort of get a sense it might
be easing. Things are slowing, but the economy is still pretty vibrant. The question is does consumer sentiment shift in time to reward Biden for handling inflation or not? And I think that's really the big determinant. You know, age is a big deal in the media right now. But you know, is the federal government functioning?
Yes?
It is? Is it shut down? No?
It isn't.
Is it the meeting with our NATO allies, Are we sending weapons where we need to spend weapons in the interest of the United States, according to him.
Yes, So that's the big.
Disconnect is the media focus on this issue, whereas the rest of the country kind of experience is the federal government and says, right now, except for inflation, working decently well.
Wendy Schuller of Brown University, I thought David Gerrow is riveting. Of course, he's doing the big take, has a recent big take on President Biden. He has a recent big take on the madness of the French outcome as well. And girl really focused on the NATO meetians coming up here. They begin Wednesday into Thursday Friday, and of course of press conference. I believe Thursday, I'm guessing afternoon with President Biden,
hugely anticipated worldwide. We'll have full coverage of that press conference, of course, Amory Hoard and I know spearheading that effort as well. We're out on YouTube. You go to search in Google, you go YouTube Bloomberg Podcast. It gets you there to our live icon Lisa Mateo leading the icon off as you would well expect, and you can then subscribe to Bloomberg Surveillance. Out on Bloomberg Podcast, run Apple CarPlay, Android Auto as well and on Apple Podcasts, it is single best idea