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A single best idea, what a great Monday, an eclectic set of conversations, really interesting. I want to single out Michael Purvis of Tallbecken who just flat out said mag six is your friend. He said into earnings here and into the end of the year. He says, you can't ignore the might of that revenue, that cash generation and all the I guess excitement over AI. Thank you Michael Purvis for that Stephen England are in with us, and it was wrapped around the headlines on Argentina. That's not
his area. We thank him at Standard Charter for their perspective on a US Argentina swap. But much more was his arch call for a res resilient and stronger dollar and a weaker Euro. Here Englander of Standard Charter.
We like our euroview euro weakness, and we think and dollar strength. We think it will play out over that time horizon, and we think that it's you know, we think that the market consensus is still very dollar bearish. You mentioned dollar strength, So if the US is overstating it's labor growth and market growth strength, then is the US dollar miss price? The dollar is mispriced but not for that reason. I think, I think what you know,
what we're seeing. I mean, if you think of it, the GDP now before the shutdown was running three eight three nine, it looks like labor input and correctly measured was probably down one percent. So productivity is booming. Historically, that's been a very dollar positive development.
Stephen Englander the Standard Charter bank, Michael Green got us started this morning simplify Michael Green with a really eclectic view. We didn't do enough on this today, I promise folks, into the coming days, we'll spend much more time on the upset in the credit and derivative and what are called colo credit loan obligations markets. Michael Green on the private moment.
This is actually indicative of a much broader problem we've been seeing. Bankruptcies themselves have actually been elevated in the corporate space those with assets above fifty million dollars. Bankruptcies for assets above fifty million dollars have actually been surging, and our levels that are consistent with a much higher
level of credit spreads. The biggest story in credit spreads continues to be exactly what you guys were referring earlier to from the soft gen observation, people are piling money in. There's not a lot of issues, particularly in high yield, because they resist the higher yields. That means they're chasing the secondary of securities and pressuring credit spreads.
Michael Green, there are so many different ways to go on this, and of course with the leadership of Bloomberg News looking at many of the different smaller angles in the bigger story of the ankst that we're seeing in the derivative space. We're out on podcasts on Apple, on Spotify, at YouTube podcasts. Single best idea