Bloomberg Audio Studios, Podcasts, radio News, Single Best Idea. It is a podcast. Our strategy is to give you a podcast. It's sharp and focused. It's not twenty minutes, it's about six minutes long. We are humbled by what we have seen so far. We're rolling out very slowly, figuring it out. And what we're going to do today is focus on one guest. Dominic Constam is a tour de force with Parchment from Cambridge and Oxford. He has been a fixed year on the London, New York axis for Global Wall
Street for decades. You'll hear about that here later in Single Best Idea at Credit Suite, number of other depots as well. Now at Missuo with Steve Shudel. Can't say enough about the intelligence of his work. I really only equated with Michael Mobison of Morgan Stanley, someone really trying to think bigger and broader. Today we went more narrow with doctor Constem and to begin we had to look
at the Bloomberg headlines of Japan unraveling. I don't want to overplay it, but our Tokyo News Bureau making clear that after one intervention, after two interventions, and now the discussion of weaker Japanese yen. Well, the government intervene again. As of this taping, we do not see that. But the fact is it is a Japan after an inflation and reflation experiment in some form of modest crisis. Dominic constem on Japan.
I think it's too soon to say. I think you can be so somewhat optimistic that Japan is getting out of its hole. I mean, you've now taken interest rates back to like twenty ten, twenty eleven levels. You know, there's the lost thing. You know, there's been a lost decade, the lost decades before sort of thing. But they've they've
kind of got themselves out of that whole. So I think the outlook for Japan is a you know, somewhat constructive, especially if they can get a virtuous circle of wage inflation and price inflation, albeit at low levels, that that keeps a positive interest rate, I mean positive interest rates. You know, will will you know, our good thing in terms of eternal capital, and I'll support risky, risky asset markets as well. So that's kind of the idea, this
sort of adjustment. And Japan, you know, traditionally has been obviously a big exporter of capital because there haven't been opportunities at that home in Japan, and that's why you know, they've had this sort of massive kind of count surface and over time that's obviously, you know, is correcting in a hopefully sustainable way.
Dominic constant there and of course wonderful talk and what the FED is doing. He says they will be patient. He says, it's a delicate task not to reduce reduce demand, and we'll see how the FED does. Long ago and our way. Sarah Yango of Bloomberg ELP, he came up to me and said, Tom, we want we want to do Bloomberg terminal sales to colleges to their investment clubs. And I said, yeah, yeah, yeah, it sounds great, Sarah, let's do it. And it turned out to be a
ginormous success. In the modern day. Across this nation there are all sorts of universities and colleges with finance major investment clubs where they get access to the Bloomberg terminal for an extremely reasonable incentive package. We're obviously incentive to have the financial employees of the future to be conversant with the meal ticket here at Bloomberg. The Bloomberg professional service.
That was not true many many decades ago. I asked Dominie Constam about Brexit and he talked about his investment club. A number of decades in the.
Past, I went to school with Nigel farreansh. I was in the same class Nigel Faris. There are only six of us. We started the investment club together. His father was very kind and helped us in terms of doing some of those trades. So I feel very close to the to the sort of Brexit experiment. But I have to say it's been a complete failure and I was against it, and I'm I'm a bit sad that Nigel went down that road, but yes, it's it was. It was that, you know, the British people were told things
that would happen and they didn't happen. You know, they would I had a vote again, I think they would not vote the same way. But again it does reflect an underlying discontent with the population.
They did not have a Bloomberg terminal. That's probably why the mess of Brexit happened. Nigel Ferraud and Dominic Constant years ago in the United Kingdom, and of course now it is the election. Look to our London Bureau for coverage of the British election. There's so many elections coming up, the dates, my head's spinning. Tomorrow a US debate, Thank you Joe Matthew, Kayley Lynes and David Gera for prepper
towards the CNN debate that you'll see tomorrow. I believe on the thirtieth there's a French election that's a weekend vote, and then I believe it's easy to remember, the fourth of July there's a United Kingdom vote. I have to remind John Farrell that's when the Colonies won. The fourth of July there's a United Kingdom election, and then three days after that there's the final election in France, and then after that, a million months and weeks away is
a US election November fifth. Stay with us with all of our politics. David Gura leading our effort there, of course, looked at the Big take as well out on Apple Podcasts from New York. All I can say we're on Apple Podcasts single best I did