The Latest on Trump and Wrapping Big Bank Earnings and Retail Sales
Jul 16, 2024
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Brown University professor discusses Trump, JD Vance. RBC Capital Markets head talks Trump trade, market volatility. Telsey Advisory Group CEO analyzes June retail sales. Whalen wraps big bank earnings. Various perspectives on economics, finance, retail trends, and market volatility.
J.D. Vance as VP solidifies Ohio's red state status, missed opportunity to attract broader voter base.
Impending crisis in commercial real estate sector due to financial strains, potential defaults on mortgages.
Deep dives
Impact of Vice Presidential Candidate Selection on the Republican Party
The podcast episode discusses the selection of J.D. as the vice presidential candidate and its implications for the Republican Party. Wendy Schiller, a professor at Brown University, expresses her views on this choice, stating that it solidifies Ohio's position as a red-leaning state and aligns with the Republican platform. However, she highlights missed opportunities for the party to appeal to a broader voter base by not selecting candidates like Tim Scott, which could have attracted black and independent voters.
Challenges in Retail and Commercial Real Estate
The conversation shifts to the challenges in the commercial real estate sector, highlighting concerns about the impact on banks and the economy. Chris Whalen discusses the looming issues in commercial real estate, emphasizing the financial strains faced by landlords and potential defaults on mortgages. This situation raises questions about the sustainability of high financing rates, signaling a looming crisis in the sector.
Citigroup's Position in the Banking Sector
The episode delves into Citigroup's standing within the banking industry, comparing it to other major players like JP Morgan and Bank of America. Chris Whalen provides insights into Citigroup's struggles and potential future trajectory, suggesting a merger with a firm possessing a robust asset management division. He envisions a scenario where Citigroup could merge with Goldman Sachs to leverage shared strengths in credit and deal-making.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene and Paul SweeneyJuly 16th, 2024 Featuring:
Wendy Schiller, Professor at Brown University, Donald Trump's selection of JD Vance as Vice President, Trump's appearance at the RNC, and Joe Biden's interview with Lester Holt
Amy Wu Silverman, Head of Derivatives Strategy for RBC Capital Markets, discusses the Trump trade and market volatility
Dana Telsey, CEO at Telsey Advisory Group, reacts to June retail sales
Chris Whalen, founder at Whalen Global Advisors, wraps big bank earnings