Daily Briefing – May 14, 2020

Published on
May 14th, 2020
Duration
29 minutes


Daily Briefing – May 14, 2020

Daily Briefing ·
Featuring Peter Cooper, Ed Harrison, and Roger Hirst

Published on: May 14th, 2020 • Duration: 29 minutes

Real Vision's Managing Editor Ed Harrison is joined by Roger Hirst to discuss the latest developments in markets, macro, and the coronavirus crisis. Harrison and Hirst discuss asset prices, including high yield and investment grade corporate bonds, bank stocks, and currencies, through the lens of debt deflation. Peter Cooper talks about how China, Hong Kong, and South Korea are facing setbacks with a new wave of cases.

Comments

Transcript

  • GB
    Griffin B.
    15 May 2020 @ 17:33
    What is the talk about "liquidity adjusted dollars"? I have heard it on several videos the last few days and am not sure what is meant by this. Thanks.
    • CN
      Caroline N.
      16 May 2020 @ 14:20
      It's a concept that Raoul pointed out (I believe in the daily briefing last week Friday). He said that because the USD is the most liquid currency (in terms of the amount of transactions in global trade it is used for), the amount that the Fed would have to print to cause inflation is also substantially higher vs. the euro or other currencies. So to account for this, we should look at these currencies on a liquidity-adjusted basis.
  • JB
    John B.
    15 May 2020 @ 19:55
    Imagine how difficult it will be to keep bailing out Wall Street while Main Street has 25% unemployment. Tensions could boil over.
  • IN
    I N.
    15 May 2020 @ 15:38
    Ed, add this one to the list of "RV DB gems", very much in the spirit of the streak from two weeks ago.
  • SS
    Steve S.
    14 May 2020 @ 22:46
    Loved the teleprompter shots, didn't know it was filmed like that. Great.
    • CS
      Cody S.
      14 May 2020 @ 23:38
      I was thinking the same thing!
    • JD
      Jesse D.
      15 May 2020 @ 01:37
      I want a shot of the camera that films the teleprompter shot!
    • PC
      Peter C. | Real Vision
      15 May 2020 @ 13:10
      A little moviemaking magic. :)
  • MR
    Matthew R.
    15 May 2020 @ 00:20
    Sometimes I think Richard could expand his thinking a bit more, as he doesn't fully explain all of his ideas. For example would like him to expand on his view on the pound.
    • DB
      Douglas B.
      15 May 2020 @ 01:32
      Who is Richard?
    • MR
      Matthew R.
      15 May 2020 @ 12:28
      Hah, sorry I meant Roger.
  • UJ
    Ulf J.
    15 May 2020 @ 07:46
    In Sweden, the government's "korttidspermittering" meaning the worker will not be lay-offed the government pay so he can work less without losing money and the company can afford to keep the workforce. Today the number is 420 000 people and the cost for the government is 22 billion SEK. Where I live (Above Arctic Circle) fruits have gone up in price by 34%, otherwise, life is almost as usual.
  • RA
    Robert A.
    15 May 2020 @ 06:53
    Just as the currency markets represent the relief valve on global macroeconomics, the pub represents the relief valve on global life.
  • AS
    Ash S.
    15 May 2020 @ 06:28
    Great work again guys! RV videos including these daily updates are the highlight of my day.
  • MC
    Michael C.
    15 May 2020 @ 06:16
    Roger, as always, crisp clear thinking and clear communication. Cuts through the noise like a pro. Thanks again.
  • NI
    Nate I.
    15 May 2020 @ 04:02
    Great daily briefing. EUR.USD will be interesting to watch.
    • PC
      Paul C.
      15 May 2020 @ 05:58
      My one concern on the EUR/USD trade, the whole market is waiting to put it on. There will likely be some real juice in the trade, so i’ll look may be a week or so after the break(should it happen), to check its not a bear trap.
  • OM
    Owen M.
    15 May 2020 @ 04:32
    one of the best DB yet; great work Roger and Ed. Thank ya'll
  • AG
    Andrew G.
    15 May 2020 @ 04:09
    Roger! You need to restock that wine rack. Every day we watch, and the supply dwindles. Let’s fill it up!
  • SG
    Sebastian G.
    14 May 2020 @ 23:41
    When the pub opens up, I suggest we all flock to Aldeburgh to have a beer with our main man, Richard Hirst. Even Raoul can leave his paradise Island! Thanks guys.
    • SG
      Sebastian G.
      15 May 2020 @ 01:42
      Autocorrect... Roger obviously!
  • MR
    Matthew R.
    15 May 2020 @ 00:19
    Sounds like Ed's a big Ambrose of the telegraph fan. Not a bad place to get info. One of the top tier papers in the UK alongside the FT.
  • DS
    David S.
    14 May 2020 @ 23:21
    Where is this Sa-ool place you speak of Peter? Is it in Korea?
  • TL
    Tom L.
    14 May 2020 @ 22:54
    Great interview with Roger once again!
  • MT
    Mark T.
    14 May 2020 @ 22:37
    Thanks, great segment. And Peter, I really liked the camera perspective from behind you showing the teleprompter!
  • DS
    David S.
    14 May 2020 @ 22:24
    Mr. Cooper an excellent and timely COVID-19 update as we are trying to figure out a way to open in the US. I watched it twice before the Daily Briefing. DLS