Biden Pushes Back, French Election Aftermath, Inflation Outlook
Jul 9, 2024
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Guests discuss rumors about Biden's health and defiance, French election aftermath, and inflation outlook. Insights on political developments in France and the US, rate cut possibility in September, mega tech companies in economic uncertainty, and investment outlook on China and Japan.
President Biden faces resistance over health concerns and reaffirms determination to remain the nominee.
France's election results potentially pave the way for a stable centrist or moderate left government coalition, ensuring support for Ukraine.
Deep dives
Concerns Over President Biden's Health and Defiant Response
Questions and concerns regarding President Biden's health have arisen, with reports of a neurologist, potentially a Parkinson's specialist, visiting the White House. The White House refused to confirm if the doctor met with President Biden, sparking further speculation. Despite acknowledging routine physicals showing no indication of impairment, Democrats expressed worries about Biden's health due to observable verbal slips. Biden remains defiant, dismissing calls for additional testing and asserting his stance to remain the nominee, facing resistance and tepid support within his party.
Implications of French Elections on Economy and European Union Support for Ukraine
France's recent elections resulting in a divided parliament suggest possibilities for a centrist or moderate left government coalition. This outcome averts extreme right or left-wing governments, promising stability for France. The election results also affirm European support for Ukraine, as President Macron's leadership role remains unchallenged by pro-Russian influences. The political landscape allows for continued backing of Ukraine from various European countries, bolstering support during challenging times.
Market Insights on Economic Slowdown and Fed's Response
Market analysts anticipate a correction and weigh bonds as an attractive option amid concerns over an economic slowdown. Speculation surrounds the timing of the Fed's first rate cut, possibly indicating a dovish approach in response to softer labor market data. The market reflects a preference for quality investments, evident in the focus on mega tech companies with sturdy balance sheets. Potential volatility post-November elections awaits, particularly in the case of a one-party sweep affecting market sentiment.
Bloomberg's Ed Baxter speaks to Josh Wingrove, Bloomberg White House Reporter on President Joe Biden telling lawmakers and donors to end revolt over his candidacy. They also discussed the White House addressing Biden's health.
Jacob Funk Kirkegaard, Senior Fellow at Peterson Institute For International Economics discusses what's next for France after their election
Quincy Krosby, Chief Global Strategist for LPL Financial discusses her outlook on the inflation data coming later in the week.
Anna Rathbun, CIO at CBIZ Investment Advisory Services discusses her outlook on markets