In this podcast, experts discuss the record-breaking boom in the US bond market. The role of pharmacy benefit managers in the prescription drug market is explored, with suggestions to save costs. The surprising firing and rehiring of Sam Altman as CEO of a tech and AI company is discussed. The correlation between water use and greenhouse gas emissions is highlighted, emphasizing the need for efficient water management. The podcast also provides insights on the current state of the market and investment strategies for the upcoming year.
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Quick takeaways
The US bond market experienced a record-breaking month in November, despite a challenging year overall.
The yield curve correction and decreased risk of recession are expected to benefit the banking sector in 2022.
Deep dives
Consumers Split
The consumer market is split, with a stressed credit consumer and a cash customer. While higher interest rates have put pressure on credit consumers, the job market remains strong, providing stability for the cash customer segment.
Exhaling in 2022
Investors and consumers alike are hopeful that 2022 will bring a sense of relief and stabilization to the market. As the yield curve rights itself and risk of recession diminishes, investors are starting to deploy cash into stocks and bonds.
Banking Environment
The banking environment is expected to benefit from the yield curve correction next year. As risk of recession decreases and the yield curve turns positive, banks are anticipated to see improved performance.
Rotation of Sectors
There has been a rotation of sectors in the market, and a broadening out from the commonly known high-growth areas. Sectors such as financials and REITs have witnessed double-digit growth, suggesting a more balanced portfolio approach in the year ahead.
Bloomberg News Rates Reporter Michael MacKenzie and Bloomberg News Chief Correspondent for Global Macro Markets Liz McCormick explain how in a year in which little has gone right in the US bond market, November turned out to be a month for the record books. Ge Bai, Professor of Health Policy and Management at Johns Hopkins Bloomberg School of Public Health, talks about middlemen pocketing 70% of Medicare spending on widely used generic drugs. Bloomberg Businessweek Editor Joel Weber, Businessweek Technology Editor Joshua Brustein and Bloomberg News AI Reporter Rachel Metz share the details of the Businessweek Magazine story Sam Altman Won the War for OpenAI. Now Comes Winning the Peace. And we Drive to the Close with John Augustine, CIO of Huntington Private Bank. Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan.