Daily Briefing – June 18, 2020

Published on
June 18th, 2020
Duration
32 minutes


Daily Briefing – June 18, 2020

Daily Briefing ·
Featuring Peter Cooper, Ed Harrison, and Peter Boockvar

Published on: June 18th, 2020 • Duration: 32 minutes

Managing editor Ed Harrison joins Peter Boockvar, CIO of Bleakley Advisor Group, to discuss the latest developments in markets, macro, and coronavirus. Harrison and Boockvar dive into what the trajectory of inflation will be and how it's not a monolithic concept, talk about the possibility and implications of a V-shaped recovery, and explore the broader investment opportunities ahead. In the intro, Peter Cooper explains how the wedge between Wall Street and Main Street continues to be driven deeper.

Comments

Transcript

  • AF
    Andre F.
    22 June 2020 @ 08:11
    There's a green tinge to Mr. Cooper. It's a pity, the dullness and green tinge that I see of his skin is obviously some sort of error or deficit in the quality of his camera. Mr. Cooper, if you are using your own camera, you may want to upgrade, or not. Just something for you to consider. (I will be including a link, not for the purpose of finger wagging, merely for the purpose of highlighting a problem of modern history.) If it's an RV camera then RV may want to upgrade. I realize it's a digital camera being used, still the following article is relevant in lightly skimming the ( I will call it 'disinterest') disinterest that the photographic film industry had when it came to rendering the widely varying skin tones of black and brown people in photographic images. https://www.theguardian.com/artanddesign/2013/jan/25/racism-colour-photography-exhibition
  • JP
    Jordan P.
    19 June 2020 @ 17:15
    Any sense for the number of homeowners who requested 12 months forbearance on their mortgages as part of the CARES Act?
    • GH
      Gabrielle H. | Real Vision
      19 June 2020 @ 18:32
      Hi Jordan, Black Knight has been tracking this — their latest press release, which was published two weeks ago, said that as of the beginning of this month, 4.73 million homeowners (8.9% of all active mortgages) are in COVID-19 mortgage forbearance plans. https://www.blackknightinc.com/black-knight-number-of-homeowners-in-covid-19-related-forbearance-plans-falls-for-first-time-since-crisis-began-8-9-of-all-mortgages-now-in-forbearance/
    • RA
      Robert A.
      19 June 2020 @ 18:48
      Thanks Gabrielle. You continually come up with great “behind the scenes” statistics and commentary. Your excellent work does not go unnoticed!
    • GH
      Gabrielle H. | Real Vision
      19 June 2020 @ 19:27
      Thank you Robert, I appreciate that a lot! :)
    • JD
      James D.
      19 June 2020 @ 22:37
      Here's another interesting note from Stephanie Pomboy in an interview on Hedgeye. She mentioned that home flippers were the largest segment of residential real estate transactions since COVID.
  • PC
    Paul C.
    19 June 2020 @ 07:44
    Wonderful DB..thank you to Ed and both Peter’s. Would love to see more of PB.
    • CM
      Cory M.
      19 June 2020 @ 21:06
      Agree. Peter was outstanding.
  • PM
    Paul M.
    19 June 2020 @ 20:27
    Excellent work! Ed - I think your plant needs water! :)
  • RA
    Robert A.
    19 June 2020 @ 18:45
    Peter is a great communicator and with a “light touch” from Ed he can cover a lot of ground quickly and succinctly. Excellent DB.
  • jg
    jesse g.
    19 June 2020 @ 11:19
    Thank you Ed and Peter^2
  • IP
    IDA P.
    19 June 2020 @ 09:12
    really good, thank you
  • IP
    IDA P.
    19 June 2020 @ 08:49
    Well lots of women are growing their hair long and doing their own nails, these sectors will go back, but maybe 90% not 100%. It is too stressful to go do these things now, going to the hairdresser used to be a pleasure at least for me.
  • CT
    Chris T.
    19 June 2020 @ 08:43
    Mentions Hong Kong for small death rates.. what about London? 10m population with only 190 dead as per death certificate https://www.london.gov.uk/coronavirus/coronavirus-numbers-london
  • RD
    Ruediger D.
    19 June 2020 @ 08:23
    Neither can they print Gold...smile...
  • DS
    David S.
    18 June 2020 @ 23:30
    Great job Mr. Cooper. You called the current market’ major problem. Both Mr. Harrison and Mr. Boockvar are theorizing way too much. The reason the stock market is up is simply money flows creating momentum and FOMO. Look at the number of new participants in the stock and derivative markets just playing the momentum. How much money is flowing into the market with Robinhood investors and how much are they leveraged? Many brokers who knew the market was overpriced had to jump in to keep their clients. This is another tulip bubble – tulips are prettier. All IPOs should schedule asap to take advantage of the bubble. Someday student loans, car loans, mortgages, rents and credit cards will have to be paid or defaulted. The size of the bubble will be shown in hindsight. Forget all the theories using any valuation. They are not applicable now. The Bond Market knows. The Bond Market is trying to tell you. Mr. Pal is trying to tell you. What do the Robinhood investor know about the bond market - Hertz. Many of the loan forbearance programs are scheduled to end in the fall to after the election. I wonder why? Could it be the same reason that the Treasury has so much cash on hand? DLS
    • PC
      Paul C.
      19 June 2020 @ 07:55
      The hardest part, is not being sucked in and sticking to your guns and sitting on your hands. I have about 3-5yrs before i want to retire, i can’t afford to get wiped out..mostly in cash, gold and bonds..which can be frustrating when you see equites +1%to 3%(You get my drift) each week at the moment.
  • DT
    David T.
    19 June 2020 @ 00:53
    Europe is pushing Google Tax (AMZN, FB,..) agenda. Mnuchin already threatened EU with retaliation but, they still going ahead. EU need cash. US may get into a trade war with EU too. Can RV get someone in Europe to talk about Eurobonds and current situation in Spain, Italy and Greece?
    • PC
      Paul C.
      19 June 2020 @ 07:51
      I saw recently that the German contributions to the EU budget are likely to jump about 40% now the Brits have left..about $14.5bn pa. At some point, they have gotta say..enough is enough, surely? Then again, maybe not.
  • DS
    David S.
    19 June 2020 @ 06:56
    Terrific. Thanks again for switching up the guests on the Daily Briefing. I find the variety of opinions very informative and helpful
  • JH
    Joel H.
    19 June 2020 @ 05:38
    Always good to check in with Boockvar, thanks guys.
  • mB
    marc B.
    19 June 2020 @ 02:14
    I’m starting to like this new format for wed & Thursday. Peter rocks. Smart guy!
  • JK
    Jim K.
    19 June 2020 @ 01:36
    Nice job Ed. Peter was a great guest, even though I do not think there will an inflation problem in 2021.
  • BK
    Brigitte K.
    19 June 2020 @ 01:25
    Great analysis, clear and precise. Thank you!
  • TS
    Thomas S.
    19 June 2020 @ 01:11
    Good job. Peter is a bright guy with a moral compass
  • PB
    PHILLIP B.
    19 June 2020 @ 01:11
    Explaining, anticipating, and looking out a few quarters, is so difficult. I subscribe to a few services. It's the same for writing and interviews on each. We all want to be positioned to gain, and to not lose. No one knows what's going to happen. This reminds me of the scene near the beginning of the film "Jason and the Argonauts" where the commander is looking at some guts on the ground and asking his advisor just how the hell good the tidings are going to be for his troop. There is so much uncertainty. It just seems that despite our best preparations, there are going to be events that will shuffle the deck again and again until some quarters out when there is some calm. It requires adjustments in outlook and narrative monthly, weekly, daily. It's insane.
  • IN
    I N.
    19 June 2020 @ 00:47
    What is the chart on Peter's wall?
  • WM
    William M.
    18 June 2020 @ 23:58
    great stuff guys!
  • TB
    Tobin B.
    18 June 2020 @ 23:32
    Thanks guys good talk, Ed need a couple more lights lower around shoulder level on each side keep up the good work
  • DG
    Dave G.
    18 June 2020 @ 23:20
    Good job Ed excellent interview.
  • MF
    Max F.
    18 June 2020 @ 22:31
    Can't understand AMZN valuations -- they're already so efficient there is no room for margin compression....
    • DJ
      Dan J.
      18 June 2020 @ 23:12
      There is room to turn their sights on other industries. The technology capacity, scale, customer base, and capital they can bring to bear is significant. Health insurance maybe?
  • Po
    Pedro o.
    18 June 2020 @ 23:03
    Hi
  • ns
    nikolay s.
    18 June 2020 @ 22:20
    What about IPO of Theranos 2.0 ---Nicola ?