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The single best idea. What a set of great conversations today, particularly the equity market. We started with Cam Dawson of New Edge, and she was piercing about the ambiguities in the market right now, the cut the back of the forth of the equity market. She maintained a bullish tone, but nothing like Edyard Denny who joined us for an ample conversation. He reaffirmed an SPX it would be resilient move above six thousand. Couldn't get him to get back
to seven thousand on standard of pores five hundred. But we talked about the ambiguity that's out there. If yields go up, they can cut one way or another way. Here's Edyard Denny high oer eels should be bad, but they haven't been bad. We have seen a global bull market and in stocks, even though we've seen bond yields increase. Now my view is that to a loge extent, bondials of normalize, they're back to where they should be. Forty a half percent is the right bond yield for the
US economy. That was the case before the Great Financial Crisis, and I think it's the case against now. You know, maybe we're getting some excesses in the UK, some excesses in Japan. But you know, if you want to be US centric, which to be, I think these bondials are kind of normal. But I do see a risk that there could be a mini debt crisis the way there
was in twenty twenty three. In some ways, Tom, I hope there is, because I think now's a good time for a debt crisis to get the attention of the politicians in Washington that they got to get their act together. Ed Jared Denny just really really quite good leaking economics into the fixed income market and the equity market is well. Angela's stent here's the backstory, the shock of Russia invading Ukraine.
I think it was a Wednesday, maybe a Thursday. And the next day, as all of us were reeling, there was a new book out, Putin's World, And in February of the year a couple of years ago, in February I picked my book of the year for the next twelve months, and it was Angela's Stentz Putin's World. I can't say enough about it. One volume, readable and absolutely authoritative, Professor Stent of course at Brookings and Oliver good work.
We caught up with Angela's stent today here on the Trump effect on Putin.
I don't think he's helping at the moment because, you know, having gotten the Ukrainians and the Europeans to say, yes, we have to have a thirty day interim ceasefire before we could really negotiate, Putin has refused to do this. Apparently in the phone call yesterday they didn't even discuss us a ceasefire in two and a half hours. So that's really not helping get us anywhere nearer to stopping the killing and talking constructively about what comes afterwards.
Angela's stent and again the book is Putin's World, and shout out if I can for Stephanie Baker of Bloomberg News with her book on Vladimir Putin right now. It's a valuable effort as well on your commute across the nation. Too many ways to listen to us, Good morning on serious XM now older technology but as modern as they come in this new digital world. On YouTube, subscribe to Bloomberg Podcast it's a number one way to help our effort. And on YouTube podcasts. This is single best idea