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A single best idea, and all I can tell you is twenty twenty five starts overwhelming. I mean all sorts of conversations and real strong opinions, some positive, some negative, across economics, finance, investment, international relations, crowding in as well a lot of jokes in ha haha today about Greenland, but you know what, it's sort of serious. I learned more about Greenland in the last four hours than I've learned in forty years, and thanks to our team for that,
for briefing us out. I did not know that nuke Greenland on the West coast, sort of down by the tip. I think you wave at it when you're going layard at JFK, but I feel on the right side of the plane. But you know, it's close to New York and Copenhagen. I didn't know that. So you know, there's some surprises out there as well. There is no surprise that Jeffrey you at B and Y is the kind
of person that can give you an holistic view. And one of the shadows that's out there is given the correlations now and perfectly particularly dynamics and currencies are their shadows back to nineteen ninety eight. Jeff youw of B.
And Y ninety eight is not going to happen. Let's look at the Indonesian rupea right, so at the forefront of what happened in ninety eight. Right now, they are self financed, right, so they've got enough in terms of sufficient savings. It was a very popular trade of the last two or three years. They're back to being a commodity currency, selling nickel that have a fifth and more than a fifth of the world's nickel, for example. In terms of the rem and B there is active management
right now. More important in terms of quote unquote rate, I need to see an upside break in yields in China. The two year Chinese government bond could converge with a two year Japanese government bond soon, right, So let's just think about that. What that signifies in terms of the economic outlook for China. Japan's were sixty five basis points right now, Chinese to you going through one percent. So I think all of that points to a need for
a push for reflation in China. And that's where Okay, ten year China that go up by one hundred basis points.
We went on to talk about the politics of Beijing and how they affect a policy to advance Jeff Yu's theory that they've got to really flood the system with support to boost and sustain consumption. Fascinating interview. You can see that in entirety. We continued with mister Yu and of course with Jeff Yu. You want to talk about the path forward again, Jeff YOUU of B and Y.
It's about your contribution to your risk adjusted returns, right, so if on a risk adjusted basis you can make a case for alternatives and also subject to your duration for your iras and for your iss here with long enough for time horizon the old endowment profiles with my
old wealth management has on that is sufficient. You need sufficient allocations into alternatives and of which your private markets is a key part of that right now, So there will be regulatory adjustments and I think the rest of the world, in the UK, Europe, they're looking to the US to see how this goes from here. So this is here to stay, but subject to contributional risk and it's not going to be steady show tracking errors and also sharp ratios they go up and down, so subject
to what people need. At this point, their liquidity lockups the maturities of their profiles. There will always be a role for alternatives, and now that the total definition of alternatives has changed, so I see the US leading the way of this for many many years to come.
Is Jeff you with BNY It really can't say enough about my radar up on this. I just don't understand the due diligence for individuals in private equity and private credit in your ir A. We advance this conversation later in the show today with Randy Schimmer of Churchill Asset Management and Private Credit. As you'd gather plus plus about private credit expanding their audience over to individuals. We expand our audience each and every day. An Apple car Play,
Android Auto, Yes, I researched today. Apple car Play and Android Auto are not in Greenland. I learned that today. I thought maybe Apple car Play would be there for fifty thousand people twenty thousand and nook Greenland, but no, it's not. We're also in Washington ninety nine to one FM in a congestion tax New York City, Bloomberg eleven three oh am ninety two nine FM in Boston and on YouTube and YouTube podcasts. This is single best idea