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Jun 20, 2023
06/23
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let's bring in barclays senior auto analyst dan leavy. busy day for gm and walking us through the roadmap of vehicles. on the escalate, what was your reaction to their big plans? dan: thanks for having me. i think the escalate as part of a broader model lineup. there has been a steady cadence of announcement and model rollouts. this was in the roadmap. they escalate as one of the marquis models and gm has been approaching the ev model rollout from the perspective of franchises of strength. the escalate is one of the marquis vehicles. it is not a surprise this is one they wanted to electrify as this is a vehicle they have held a lot of brand and pricing power. jon: i think the numbers are that by 2025 they want to be rolling out one million ev's in north america per year? something in that neighborhood. having a little bit of everything would help. dan: yeah. there is going to be a wide lineup. we have already seen that from them. the four ev's they have already announced or that are set to produce this year in terms of hummer, lyric, blaz
let's bring in barclays senior auto analyst dan leavy. busy day for gm and walking us through the roadmap of vehicles. on the escalate, what was your reaction to their big plans? dan: thanks for having me. i think the escalate as part of a broader model lineup. there has been a steady cadence of announcement and model rollouts. this was in the roadmap. they escalate as one of the marquis models and gm has been approaching the ev model rollout from the perspective of franchises of strength. the...
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Jun 15, 2023
06/23
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global chairman of research at barclays. so had this hour, a conglomerate in its last stages of a billion-dollar as that selloff. we speak excuse way to their ceo about the sale, the portfolio and the asset landscape. >> the hong kong set to launch with counter trading. a closer look at this model with their cohead of equities product of element on its way up next. -- product development up next. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. >> we have equities buoyed up and take apparently leading the gains on the hong kong market. we sawtek do exactly the same thing on wall street as well. looking at course of hstech and hank sang because they trade on one platform and one company is very much in the frame for that.
global chairman of research at barclays. so had this hour, a conglomerate in its last stages of a billion-dollar as that selloff. we speak excuse way to their ceo about the sale, the portfolio and the asset landscape. >> the hong kong set to launch with counter trading. a closer look at this model with their cohead of equities product of element on its way up next. -- product development up next. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can...
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Jun 22, 2023
06/23
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stocks made its way back into the green today, and the strategy team at barclays is saying, look at pullbacks as opportunities. yes, this year's ai rally has drawn comparisons with the dot-com bubble, with our players evaluating companies like nvidia valuations not as rich as it was during the pandemic rebound. ed ludlow joins us now from the summit in san francisco. what is the buzz their own ai? ed: the buzz is the long-term. sam altman is talking about the existential threat that mankind faces from ai. how that leads to nvidia is interesting because if there was a consensus among analysts, including read lockman of greylock, or microsoft, it is that the curve of where we would get to in order for ai to be a threat is years away. how sam altman phrased it is atp four generation does not -- gtp4 generation does not pose a threat but gtp9 does. we are years away from that and billions of dollars of investment to start worrying about it. it has been an intense but wide conversation here in san francisco. matt: it is interesting because billions of dollars of expected revenue, as well. microsof
stocks made its way back into the green today, and the strategy team at barclays is saying, look at pullbacks as opportunities. yes, this year's ai rally has drawn comparisons with the dot-com bubble, with our players evaluating companies like nvidia valuations not as rich as it was during the pandemic rebound. ed ludlow joins us now from the summit in san francisco. what is the buzz their own ai? ed: the buzz is the long-term. sam altman is talking about the existential threat that mankind...
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Jun 27, 2023
06/23
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we saw santander building up, deutsche bank took a few, barclays. that is not that many -- the rest of the people that are there are looking at places throughout the history. a lot of banks are doing job cuts right now. is not an easy environment. on the wealth side is a different story. everybody from citi and jp morgan are interested in building of their wealth businesses. they might be looking to post talent. you have local private banks that are expanding and what to potentially take on the wealth bankers. that's an area ubs will not be necessarily cutting first. they are focusing on the markets, the traders, the support staff of those teams, and then they will eventually move on to other parts of the businesses. corporate functions where there is much more overlap. matt: marion broke this ubs news. tom, what is your take on the market for bankers? anyone tuning and now -- in now who is planning on leaving or will be let go, as it looks like 35,000 will be from credit suisse starting next month, they will want to know what is the market. how sat
we saw santander building up, deutsche bank took a few, barclays. that is not that many -- the rest of the people that are there are looking at places throughout the history. a lot of banks are doing job cuts right now. is not an easy environment. on the wealth side is a different story. everybody from citi and jp morgan are interested in building of their wealth businesses. they might be looking to post talent. you have local private banks that are expanding and what to potentially take on the...
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Jun 15, 2023
06/23
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emmanuel cau, head of european equity strategy at barclays joins us. they were quite hawkish and i don't know whether the markets really believed they were hawkish or it is just a sigh of relief that they did not hike yesterday. >> it was a hawkish cause for sure and my take away is that the fed is undecided about the path of rates ahead. they told us that the next meeting would be a live meeting and they are very data dependent. there's a good reason to be data-dependent because it is hard to interpret. we see some cracks and signs of disinflation but we also have a very tight labor market, which is forcing the fed to keep hawkish. i am not sure the fed moved the needle. the market was expecting this outcome and that is what we got to. francine: why is the debt all over the place? are we counting it wrong? is it a covid legacy or just adjustment that means the path forward is difficult to see ? emmanuel: we are getting out of three years of an ordinary situation. we had a war in ukraine and so many unusual events that the data has to be taken with a p
emmanuel cau, head of european equity strategy at barclays joins us. they were quite hawkish and i don't know whether the markets really believed they were hawkish or it is just a sigh of relief that they did not hike yesterday. >> it was a hawkish cause for sure and my take away is that the fed is undecided about the path of rates ahead. they told us that the next meeting would be a live meeting and they are very data dependent. there's a good reason to be data-dependent because it is...
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Jun 1, 2023
06/23
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barclays sees two and a couple weeks ago they saw none. blerina: it will be hard to be exactly right on the level of interest rates in this business cycle. i would not be surprised if we got a couple more hikes because of the residual or stickiness in the labor market and the fact that the payroll data is not slowing as much as the fed needs them to to bring inflation down. we are also having to deal with residual stickiness in inflation where rents are slowing but not fast enough and other service components that are strong. i think the fed will be keeping this thread on markets that they will continue hiking. there is another hike around the corner. but i do think that we do not have that much ground to cover in terms of yields in interest rates. guy: what is a message from the payroll number going to be? blerina: i would expect a number not to different from consensus, a slowing in growth, but one that suggests labor market is tight and only gradually loosening, not rolling over. that is the message we have seen in other indicators. but
barclays sees two and a couple weeks ago they saw none. blerina: it will be hard to be exactly right on the level of interest rates in this business cycle. i would not be surprised if we got a couple more hikes because of the residual or stickiness in the labor market and the fact that the payroll data is not slowing as much as the fed needs them to to bring inflation down. we are also having to deal with residual stickiness in inflation where rents are slowing but not fast enough and other...
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Jun 13, 2023
06/23
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tom: barclays cl c.s. venkatakrishnan, speaking to bloomberg supposedly. silicon valley bank u.k. has been rebranded as hsbc innovation banking and aims to help tech and life sciences businesses grow. it is going to operate in the u.k. as well as the u.s., israel, and hong kong. it comes after the lending giant bought svb u.k. for one pound in march following the collapse of the california-based parent firm. i'm very pleased to say joining me now it's in the studio's svb u.k. ceo and now the head of the new rebranded entity erin platts . we will get to the rebranding and what it means for your clients and the business opportunities going for but let start with what it was like, that tumultuous period in march when we saw essentially the run on on svb's and the u.s. and the u.k.. when did you first get a sense that things were turning and going wrong, and what was it like to live through that? erin: you are right. the last three-month to march was a difficult period and the bank run it moved very quickly. being here is in the u.k., we were working with u.s. colleagues on thursday.
tom: barclays cl c.s. venkatakrishnan, speaking to bloomberg supposedly. silicon valley bank u.k. has been rebranded as hsbc innovation banking and aims to help tech and life sciences businesses grow. it is going to operate in the u.k. as well as the u.s., israel, and hong kong. it comes after the lending giant bought svb u.k. for one pound in march following the collapse of the california-based parent firm. i'm very pleased to say joining me now it's in the studio's svb u.k. ceo and now the...
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Jun 2, 2023
06/23
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if you look at the tables on mergers and applications, barclays fall -- has fallen off the top 10 and the top 10 you see a lot of -- they can potentially pay their top dealmakers more the same as for investment banking at hedge funds where there is a sense of letting go of your underperformers at a faster rate so you are not taking from peter to pay paul, you can just pay paul more and you need to keep all when deals come back. guy: ok. peter is not having a good day, paul much better. we all his have a good day when you show up. sonali basak wringing us the latest from wall street. coming up, market venture check is going to return to the turkish finance ministry. we will expand with that means for the country postelection and talk about that next. this is bloomberg. ♪ alix: stocks are still flying higher and you see us deep selloff in the bond market, particularly front end yields up by 15 basis points. abigail is tracking this. >> flying higher is a good way to put it. take out -- check out the gains, 1.2% higher, up, the third week in a row. this network, the biggest percentage
if you look at the tables on mergers and applications, barclays fall -- has fallen off the top 10 and the top 10 you see a lot of -- they can potentially pay their top dealmakers more the same as for investment banking at hedge funds where there is a sense of letting go of your underperformers at a faster rate so you are not taking from peter to pay paul, you can just pay paul more and you need to keep all when deals come back. guy: ok. peter is not having a good day, paul much better. we all...
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Jun 5, 2023
06/23
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i have seen barclay say, well, more of it will come from the rrp and some from reserves. i don't think everyone agrees on that quarter-point hike. jp morgan has been out on this being a big liquidity hit. i know that you listen to the podcast. they were talking. one of my favorite lines is "janet yellen's qt." she has to do is she has to do. it's kind of common. matt: it's interesting. the same time, heather grover has an amazing take on the story today about how much assistance has been given to banks that isn't really for boosting mortgages. i wonder if that kind of thing will be carved out and if regulation is going to hit banks even harder, they are going to have to increase capital, right? 20% is at the top of the terminal today. how much of all this is going to contribute to the tightening mechanism in the u.s. right as we need it most? liz: as the fed is having a hard enough time for going outward tightening is coming from, the tighter lending standards, now you have all this going on. you know the fed is supposed to be good at their job, but it is not easy now. it
i have seen barclay say, well, more of it will come from the rrp and some from reserves. i don't think everyone agrees on that quarter-point hike. jp morgan has been out on this being a big liquidity hit. i know that you listen to the podcast. they were talking. one of my favorite lines is "janet yellen's qt." she has to do is she has to do. it's kind of common. matt: it's interesting. the same time, heather grover has an amazing take on the story today about how much assistance has...
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Jun 9, 2023
06/23
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francine: thank you, christian keller from barclays. coming up, recession fears and the challenges ahead. we will hear from big news at the bloomberg invest summit. we will have that next. this is bloomberg. ♪ >> this is the best predicted recession that has not happened yet and may not happen. >> when capital prices this aggressively, things do break. >> i think we will get a recession but it might not be as dramatic and as sharp as the feel of the recession. >> the investing and operating environment has changed so dramatically in the last 18 months, there are many business plans and strategic paths to value creation that have now been updated for the fact that the cost of capital is dramatically higher. >> if you want to paint a more cautious picture you would say, we might have a mini stagnation scenario. inflation does not get below 3% and rates have to stay three plus percent for a while, it will not be called a recession but it won't feel great. francine: speakers from the bloomberg invest conference. christian keller from barc
francine: thank you, christian keller from barclays. coming up, recession fears and the challenges ahead. we will hear from big news at the bloomberg invest summit. we will have that next. this is bloomberg. ♪ >> this is the best predicted recession that has not happened yet and may not happen. >> when capital prices this aggressively, things do break. >> i think we will get a recession but it might not be as dramatic and as sharp as the feel of the recession. >> the...
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Jun 1, 2023
06/23
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barclays 6.3. hsbc is 5.5. i wonder where nomura stands. why this big gap in expectations? >> we are at 5.5. the gap i think reflects the view on how resilient investment cycle is going to be going forward. viewers could differ in terms of global spillovers. the one clear tailwind is for the drop in inflation commodity prices. to the extent that has been putting pressure on consumption. that goes from becoming a headwind to a tailwind. the view on durability of investment cycle to our mind is the biggest determinant of whether growth at 5.5 or 6.5. our view is globally slowdown will continue. that means the utilization rates will come down. typically the environment -- which brings us to government capex. government is pushing on the capex site to the one difference is the boost from higher than normal gdp growth will not be there next year. we think nominal gdp growth at 5.4 will end up in closer to 9% after more than 16% in fy 23 which means there will be a slowdown in tax revenue. that will mean the extent of the push the government intends to do will be lesser than -- s
barclays 6.3. hsbc is 5.5. i wonder where nomura stands. why this big gap in expectations? >> we are at 5.5. the gap i think reflects the view on how resilient investment cycle is going to be going forward. viewers could differ in terms of global spillovers. the one clear tailwind is for the drop in inflation commodity prices. to the extent that has been putting pressure on consumption. that goes from becoming a headwind to a tailwind. the view on durability of investment cycle to our...
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Jun 21, 2023
06/23
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these banks, lloyd's, barclays getting hit following the hot cpi data. and a very negative note from bnp paribas which i managed to get my hands on. they say u.k. banks are back in the danger zone and higher rates boost earnings but only to some extent. now the focus will be on credit losses, loan defaults, have any will default on loans due to higher rates? we are also seeing weakness in the homebuilders given the inflation data pushing up rate expectations ahead of the bank of england update tomorrow. all the real estate companies are getting hurt today along with the banks. the macro picture in the u.k. is key. natwest has two cell ratings, a lot of weakness and u.k. financials today. tom: the banks will be under pressure from the chancellor to increase deposit rates even if they cannot do much in terms of mortgages. what is the rate across fedex? it is a macro play in terms of sentiment. what is the read across for companies related in europe? joe: there is some read across for the bigger firms. deutsche post down 1% today coming is fedex fell 7% in
these banks, lloyd's, barclays getting hit following the hot cpi data. and a very negative note from bnp paribas which i managed to get my hands on. they say u.k. banks are back in the danger zone and higher rates boost earnings but only to some extent. now the focus will be on credit losses, loan defaults, have any will default on loans due to higher rates? we are also seeing weakness in the homebuilders given the inflation data pushing up rate expectations ahead of the bank of england update...
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Jun 27, 2023
06/23
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the united states and higher for many european banks in particular, particular credit suisse but also barclays. how does that impact profitability and the long term when they are still bringing people on when other businesses are under pressure? guy: is everybody convinced trading is going to decline the second half of the year? the deutsche bank ceo said he thought it would not. got them up -- he thought the volatility would continue. sonali:fic is a large business, fixed income commodities are different banks perform differently in that regard. with goldman in the cooling of commodities in the most recent quarter, they had benefited from that in the prior year but it did not extend. as aggressively into this year thepoint you're are making is interesting because it's not that every fixed income businesses under pressure, it's under asher relative to last year -- it's under pressure relative to last year in certain business lines. deutsche bank has rates that can benefit them across the world and they are more weighted in certain parts of europe and abroad than maybe some of the smaller inves
the united states and higher for many european banks in particular, particular credit suisse but also barclays. how does that impact profitability and the long term when they are still bringing people on when other businesses are under pressure? guy: is everybody convinced trading is going to decline the second half of the year? the deutsche bank ceo said he thought it would not. got them up -- he thought the volatility would continue. sonali:fic is a large business, fixed income commodities...