Bloomberg Audio Studios, Podcasts, Radio News the single best idea on the Oddust of Tuesdays in a slow motion August. It was not slow motion didity. Thanks to our team Eric and all who blew up the show. Here off the Lisa Cook News with President Trump yesterday evening Libby Cantrell, a PIMCO is expert, and I really talked to her less about Trump Cook and much more about the reaction of senators. Here's Libby Cantrell on the moment.
This is in many ways self defeating for the President because, of course, not only does this potentially not have the impact on the old curve that he wants to see and mortgage rates and what have you, but it also makes the confirmation of any future nominee that much more difficult. Remember that in or to get confirmed and nominee needs fifty votes in the Senate, Republicans right now have fifty three. However, this is something that you all. I appreciate this nuance,
but lots of financial press do not. The Senate Banking Committee, which is the first step to confirmation any nominee, cannot lose one Republican assuming Democrats vote against that person, so that means that by doing this, the president has focused attention on that confirmation process and in my view, makes it a lot more difficult for him to get anybody who has any whiff of partisanship or any whiff of being able to be influenced by the president in terms of minetary policy.
Let me cantrol a huge value ed this morning yesterday, and I put out the chart today. I think it's going to be my chart of the year. Ed. Your Denny floored me by saying S and P five hundred ten thousand by the end of the deck out twenty six, twenty seven, twenty eight, twenty nine, out four in three months, four years, three months, whatever it is. I came in this morning and did the math. Actually I did do
the math. My interns did the math. And the answer is it's Dow seventy thousand, Dow forty four thousand right now, balloons up to seventy thousand, and the return is ten and a half percent. Jeff de Graph is a renaissance macro excellent. I'm mixing economics with fundamentals and technicals. Jeffrey de Graph on the YARDENNI Dow seventy thousand.
I think you cleared a lot of the weak hands out with the tariff talk and some of the concerns there. You're probably between here and there. Obviously there's another five years to go or four plus years to go, you'll have a meaningful consolidation and you'll have another draw down that is probably in the twenty percent camp. But certainly those those types of moves we think are are typical of this long term secular trend that we're in. Now, what could derail it? You know, our bond's going to
end up being a friend or foe. I mean, that's obviously something we have to look at. But I think what's really interesting, Tom is this normalization of the yield curves globally has actually not derailed equities.
It's helped equities.
And I think that's really important that this financial suppression that we're under seems to be loosening and that's been good for free markets.
Classic de graph mixing in the yield space, the fixed income space, and the equities as well. We saw the twos tens spread steeping out today, and of course I'm watching the comparison of the thirty year bond yield with the two year bond yields so called twos thirty spread as well. Get familiar with that. I think you're going to hear a lot about that into year in on Apple and on Spotify and on YouTube podcasts.
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