Single Best Idea with Tom Keene: Holger Schmieding & Ed Yardeni

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Holger Schmieding & Ed Yardeni.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.

Speaker 2 (00:13):
Single best idea, I mean, across the arc of what
we've done for decades. This was truly an extraordinary day,
starting at about four point thirty yesterday afternoon, thanks to
Anne Marie Horden for a wonderful interview at a Secretary
of Treasurer. I was sort of dumbfounded listening to it,
not because of Anne Marie, but because of the line
from the White House. We followed that for John Farrow

(00:35):
and conversation today with the Secretary of Commerce Howard Lutnik.
The TAC we took, and thank you Joelivan's short notice
with his service to the first Trump administration. He's with
SMBC NICO, but far more importantly trying to talk to
people with legit academic and market experience across the arc

(00:59):
of our internet trade and of course all of this
starting I'm going to put it with the Atlantic Charter
of lessons learned back in the thirties and the twenties.
This in nineteen forty one and then World War Two,
the true development of our international trade policy, let's be
direct shattered. Yesterday afternoon we started strawing with Hoger Schmeting

(01:21):
a Behreenberg Bank, a wonderful voice, and you're great to
talk to him about Volkswagen with six hundred thousand employees,
his dynamics of Germany. But here is Hoger Schmedeting of Behrenberg.

Speaker 3 (01:33):
On the moment, Europe will probably want to have the
market reaction, the reaction of US consumers registered with the
people who meet Donnald Trump.

Speaker 1 (01:43):
On the golf course. Yeah, it will probably want that
so that the US hopefully will be more eager for
a deal. And in addition, Europe will threaten serious retaliation
without hitting the US now and then hopefully, say, within
the next two months, by the end of we hopefully
have negotiated some of this tariff madness away.

Speaker 2 (02:04):
Alger Schmieding and barren burg Bank. We spoke to Doug Irwin,
of course, the academic of Dartmouth, this classic book Against
the Tide. I really recommend that as a foundational read
on all that's going on against the Tide. Douglas Irwin
from twenty five years ago, really coming out of his
academic works, graduate work, I should say now again at Dartmouth.

(02:26):
David Blancheflearer of Dartmouth with us tomorrow on Jobs Day,
but it was good to get perspective across the markets
in this economic moment from Ed yard Denny of Yard
Denny Research. He has brought down his optimism.

Speaker 4 (02:40):
Well, I think up to now the assumption was that
the administration collectively knew what they were doing. But clearly
with the reaction of global stocking markets, that's not the case.
There is no vote of confidence anywhere, not even in
gold and what this administ station is doing. I mean,

(03:02):
as you said, there seems to be no place to hide,
and the only place to hide is to go to
the White House and tell the President and the administration
that this policy is just wrong.

Speaker 2 (03:14):
We'll try to hide tomorrow with good conversation. It is
Jobs Day tomorrow. I was just talking with Sparta, who
drives a ship here, and you know, I said, I
don't know if this is a big jobs report because
it's so new, and maybe it has a little bit
of President Biden in it as well. But well, I'll
tell you the May Jobs report, May second, the June
Jobs report June sixth, they will be something. Please stay

(03:38):
with us on your commute across the nation. Good Morning
ninety nine one FM in Washington ninety two nine FM
and Boston. No, I'm not going to Boston tomorrow for
Opening Day. I got other things to do. But nevertheless,
Opening Day in Boston tomorrow is a good thing. We're
on YouTube, subscribe to Bloomberg podcasts and on YouTube podcasts.

(03:59):
Single best sen