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Canada's close to legally locking in supply management rules on egg, dairy, and chicken imports...but is it the right move? We've fiercely protected those sectors for decades, but critics (including some farmers) say it's hurting Canada's international bargaining position. Is it time to kill the sacred cow? 3:45 | Pundit Rob Breakenridge and (Jespo's cousin) dairy farmer Graham Jespersen debate the merits of supply management. TELL US WHAT YOU THINK: talk@ryanjespersen.com 26:00 | Jespo and Rob get into the G7 Summit in Kananaskis, Danielle Smith v. Naheed Nenshi (33:00), Calgary's population explosion and looming mayoral race (41:30). CHECK OUT ROB'S WORK: https://robbreakenridge.substack.com/ 54:45 | Jespo and Johnny loop in the Real Talk Live Chat powered by Park Power re: vaping, smoking, and your thoughts on supply management. SAVE on INTERNET, ELECTRICITY, and NATURAL GAS: https://parkpower.ca/realtalk/ FOLLOW US ON TIKTOK, X, INSTAGRAM, and LINKEDIN: @realtalkrj & @ryanjespersen JOIN US ON FACEBOOK: @ryanjespersen REAL TALK MERCH: https://ryanjespersen.com/merch RECEIVE EXCLUSIVE PERKS - BECOME A REAL TALK PATRON: patreon.com/ryanjespersen THANK YOU FOR SUPPORTING OUR SPONSORS! https://ryanjespersen.com/sponsors The views and opinions expressed in this show are those of the host and guests and do not necessarily reflect the position of Relay Communications Group Inc. or any affiliates.
ADP Research released the Private-Sector Payroll report; Kevin digs into the data, explains the information and offers his insights. The Institute for Supply Management released the Services ISM Report on Business; Kevin sorts through the data, clarifies the information and puts it into perspective. S&P Global issued their Services Purchasing Managers Index; Kevin has the details. Oil and gas prices react to larger-than-expected U. S. inventories of gasoline and diesel, unexpected drop in U.S. crude oil inventories, OPEC+ crude oil supply increases, "persistent tariff tensions" and Canadian wildfires.
ADP Research released the Private-Sector Payroll report; Kevin digs into the data, explains the information and offers his insights. The Institute for Supply Management released the Services ISM Report on Business; Kevin sorts through the data, clarifies the information and puts it into perspective. S&P Global issued their Services Purchasing Managers Index; Kevin has the details. Oil and gas prices react to larger-than-expected U. S. inventories of gasoline and diesel, unexpected drop in U.S. crude oil inventories, OPEC+ crude oil supply increases, "persistent tariff tensions" and Canadian wildfires.
The latest Atlanta Fed GDPNow growth estimate for the 2nd quarter has been released; Kevin has the details and offers his insights. Additionally, the Atlanta Fed further explained the reason for the negative growth in the 1st quarter and put it into perspective. The U.S. Commerce Department's Census Bureau reported new orders for manufactured goods: Kevin digs through the data, which sectors are up or down and offers his insights. The Institute for Supply Management's manufacturing index was released on Tuesday; Kevin discusses the data and puts the data into historic perspective. Also on Tuesday, the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey was released; Kevin discusses the data and the whether the job market is strengthening or weakening. Oil and gas prices react to Russia and Ukraine "settlement" discussions, Iran's rejection of the U.S. nuclear proposal, Canadian willdfires interrupting crude oil production and a possible interest rate cut.
The latest Atlanta Fed GDPNow growth estimate for the 2nd quarter has been released; Kevin has the details and offers his insights. Additionally, the Atlanta Fed further explained the reason for the negative growth in the 1st quarter and put it into perspective. The U.S. Commerce Department's Census Bureau reported new orders for manufactured goods: Kevin digs through the data, which sectors are up or down and offers his insights. The Institute for Supply Management's manufacturing index was released on Tuesday; Kevin discusses the data and puts the data into historic perspective. Also on Tuesday, the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey was released; Kevin discusses the data and the whether the job market is strengthening or weakening. Oil and gas prices react to Russia and Ukraine "settlement" discussions, Iran's rejection of the U.S. nuclear proposal, Canadian willdfires interrupting crude oil production and a possible interest rate cut.
On today's episode of The Candice Malcolm Show, Candice is joined by Dalhousie University professor Sylvain Charlebois to discuss Canada's rising food inflation, why prices continue to climb while they fall across the G7, and how government protectionism — especially around dairy — may be to blame. Learn more about your ad choices. Visit megaphone.fm/adchoices
This episode opens with alarming news about Canada's food inflation reaching crisis levels. Charlebois reveals that Canada now has the highest food inflation rate among G7 countries, primarily driven by countervailing tariffs that have backfired on Canadian consumers. The hosts explain how Prime Minister Carney quietly eliminated most food-related tariffs on May 7th, though this decision received little public attention during the election. The discussion highlights how these tariffs made alternatives to American products more expensive, creating a perfect storm for Canadian grocery shoppers.The conversation shifts to emerging issues like "maple washing," where Charlebois shares specific examples of pricing discrepancies between products marketed as Canadian on the shelves versus imported products, urging grocers to exercise greater caution in their merchandising practices.A significant business development takes center stage as Quebec's Excel chicken processing cooperative faces a potential acquisition by Saputo subsidiary Sofina. This $6 billion deal could reshape Eastern Canada's supply chain under supply management systems, potentially leading to higher chicken prices and operational challenges.The interview segment features Dan Sullivan from Rosehall Run Vineyards, one of Prince Edward County's premier wine producers. Sullivan shares his 25-year journey transforming a 150-acre farm into one of Ontario's largest family-owned wineries in the region, producing 9,000-14,000 cases annually. He discusses how Prince Edward County evolved from a drive-through destination to a four-season wine tourism hotspot, emphasizing the region's focus on Pinot Noir and Chardonnay varietals.Sullivan explains how social media marketing has revolutionized wine sales, moving away from traditional critic-driven recommendations toward peer influence and community building. He describes their dual distribution strategy, selling premium estate wines directly while maintaining LCBO presence with entry-level products that serve as consumer introductions to the brand.The episode explores recent Ontario government support for the wine industry, including Premier Doug Ford's $35 million funding commitment over five years. Sullivan expresses optimism about current market opportunities, particularly given recent trade disruptions that have created space for Ontario wines on retail shelves.We also discuss innovative celebrity food collaborations, highlighting Selena Gomez's partnership with Oreo to create a horchata-flavored cookie. They note Gomez's remarkable success as one of the youngest self-made billionaires at 32, worth $1.3 billion, mainly through her Rare Beauty brand and strategic collaborations. The discussion extends to other celebrity food ventures, including Ryan Reynolds' successful breakfast collaboration with Tim Hortons, which generated impressive lineups and sales.These segments underscore broader themes of food security, consumer choice, and the complex interplay between government policy and market dynamics affecting Canadian food producers and consumers.Premier Doug Ford photo credit: Photo by Ernest Doroszuk /Toronto Sun The Food Professor #podcast is presented by Caddle. About UsDr. Sylvain Charlebois is a Professor in food distribution and policy in the Faculties of Management and Agriculture at Dalhousie University in Halifax. He is also the Senior Director of the Agri-food Analytics Lab, also located at Dalhousie University. Before joining Dalhousie, he was affiliated with the University of Guelph's Arrell Food Institute, which he co-founded. Known as “The Food Professor”, his current research interest lies in the broad area of food distribution, security and safety. Google Scholar ranks him as one of the world's most cited scholars in food supply chain management, food value chains and traceability.He has authored five books on global food systems, his most recent one published in 2017 by Wiley-Blackwell entitled “Food Safety, Risk Intelligence and Benchmarking”. He has also published over 500 peer-reviewed journal articles in several academic publications. Furthermore, his research has been featured in several newspapers and media groups, including The Lancet, The Economist, the New York Times, the Boston Globe, the Wall Street Journal, Washington Post, BBC, NBC, ABC, Fox News, Foreign Affairs, the Globe & Mail, the National Post and the Toronto Star.Dr. Charlebois sits on a few company boards, and supports many organizations as a special advisor, including some publicly traded companies. Charlebois is also a member of the Scientific Council of the Business Scientific Institute, based in Luxemburg. Dr. Charlebois is a member of the Global Food Traceability Centre's Advisory Board based in Washington DC, and a member of the National Scientific Committee of the Canadian Food Inspection Agency (CFIA) in Ottawa. Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career. Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada's Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.Rethink Retail has recognized Michael as one of the top global retail experts for the fourth year in a row, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael's cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.
Supply management may not line up with free market principles, but the fruits of it to this point have been positive for Sean Smith and his family. These strategies have helped the to remain profitable at a scale a family can manage. They have also freed them up to experiment with some more regenerative practices....
In Season 5, Episode 35 of The Food Professor podcast, co-hosts Michael LeBlanc and Sylvain Charlebois deliver an information-packed episode with significant developments in both personal and industry news.Sylvain Charlebois opens with a major announcement about joining Texas A&M University on August 1st to lead their #1-ranked Masters in Agribusiness program while maintaining his position at Dalhousie University. Speaking from Saskatoon, Sylvain shares insights about his keynote on AI in the food business and briefly touches on the political climate following recent Canadian election results.The second Canadian Food Sentiment Index reveals continued concerns about food inflation, with many consumers pessimistically expecting double-digit inflation rates. The report highlights growing consumer trust in independent grocers, likely driven by the strengthening Buy Local movement. Sylvain notes that grocery retailers like Loblaw are becoming more transparent about strategic challenges they face.The featured interview showcases an in-depth in-person conversation live at SIAL Canada between Sylvain and Gilles Froment, Senior Vice President of Government Relations at Lactalis and President of the International Dairy Federation (IDF), marking the podcast's first solo interview by Sylvain in five years.Froment, only the third Canadian to head the IDF in its 120-year history, explains the organization's role in establishing global dairy standards through its network of 1,200 experts worldwide. The discussion covers critical industry topics including the challenges of plant-based alternatives using dairy terminology, global dairy demand outpacing supply, and the projection of a significant global milk shortage by 2030—potentially equivalent to three times Canada's annual production.Both experts agree this shortage represents a missed opportunity for Canada due to supply management limitations, despite the country's excellent reputation for dairy quality and safety standards. The conversation also explores sustainability challenges facing the dairy industry, with Froment detailing his four-pillar approach: economic sustainability, social impact, environmental responsibility, and nutritional value.Climate change initiatives discussed include carbon sequestration research, genetic selection for lower methane-emitting cows, and the controversy surrounding feed additives. Froment emphasizes the need for carbon measurement at farm level and incentive-based approaches rather than punitive taxation.The episode concludes with Michael and Sylvain discussing Weight Watchers' bankruptcy filing—attributed to the rise of GLP-1 weight loss drugs—and Tim Hortons' new partnership with Canadian actor Ryan Reynolds, debating whether this celebrity endorsement will effectively attract their target demographic of younger women to the coffee chain.. The Food Professor #podcast is presented by Caddle. About UsDr. Sylvain Charlebois is a Professor in food distribution and policy in the Faculties of Management and Agriculture at Dalhousie University in Halifax. He is also the Senior Director of the Agri-food Analytics Lab, also located at Dalhousie University. Before joining Dalhousie, he was affiliated with the University of Guelph's Arrell Food Institute, which he co-founded. Known as “The Food Professor”, his current research interest lies in the broad area of food distribution, security and safety. Google Scholar ranks him as one of the world's most cited scholars in food supply chain management, food value chains and traceability.He has authored five books on global food systems, his most recent one published in 2017 by Wiley-Blackwell entitled “Food Safety, Risk Intelligence and Benchmarking”. He has also published over 500 peer-reviewed journal articles in several academic publications. Furthermore, his research has been featured in several newspapers and media groups, including The Lancet, The Economist, the New York Times, the Boston Globe, the Wall Street Journal, Washington Post, BBC, NBC, ABC, Fox News, Foreign Affairs, the Globe & Mail, the National Post and the Toronto Star.Dr. Charlebois sits on a few company boards, and supports many organizations as a special advisor, including some publicly traded companies. Charlebois is also a member of the Scientific Council of the Business Scientific Institute, based in Luxemburg. Dr. Charlebois is a member of the Global Food Traceability Centre's Advisory Board based in Washington DC, and a member of the National Scientific Committee of the Canadian Food Inspection Agency (CFIA) in Ottawa. Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career. Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada's Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.Rethink Retail has recognized Michael as one of the top global retail experts for the fourth year in a row, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael's cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.
n Season 5 of The Food Professor Podcast, Michael LeBlanc and Dr. Sylvain Charlebois take listeners inside the bustling SIAL Food Innovation Show in Toronto, bringing fresh insights on global food trends and the shifting dynamics of agri-food trade. The episode kicks off with their live reflections on the show floor, surrounded by global exhibitors from Brazil, Peru, Jamaica, and Italy. They note a growing demand for diverse flavors and ethnic cuisines, as well as a strategic pivot by companies to balance foodservice and retail sales post-pandemic.Sylvain highlights how COVID reshaped supply chains, pushing businesses to avoid overreliance on single sectors and prompting innovations that blur lines between restaurant and retail offerings. They discuss ongoing tariff challenges, food inflation stabilizing, and the complex impact of retaliatory tariffs on Canadian importers and exporters.Shifting gears, the duo analyze Canada's post-election political landscape, unpacking what Mark Carney's new government could mean for agri-food policy, carbon taxation, and Canada's trade relationships with the U.S. and Mexico. They speculate about potential reforms to supply management and agri-stability programs, while exploring Western Canadian frustrations over political representation and federal agricultural policy.The second half features an exclusive interview with Martin Lavoie, President & CEO of Groupe Export Agroalimentaire Québec-Canada, Canada's largest agri-food export association. Martin shares how his organization supports over 450 Quebec food exporters through trade shows, market intelligence, and export services. He explains how diversification strategies are evolving amid global tariff volatility, why intra-Canada trade holds untapped potential, and how government procurement could boost domestic food producers.Martin also addresses the challenges of breaking into international markets like Europe, where food economies remain hyper-local, while noting rising demand in Asia and Mexico. He underscores the importance of reducing interprovincial trade barriers to unlock growth and reveals the criteria behind Group Export's annual Export Gala awards.Wrapping up, Michael and Sylvain reflect on Michael Medline's upcoming retirement from Sobeys, discussing his leadership legacy and impact on the grocer's national growth and industry advocacy. They also celebrate T&T's continued U.S. expansion and the launch of Loblaws' Maxi stores outside Quebec.Tune in for expert insights on the evolving agri-food export landscape, retail's competitive shifts, and the policies shaping Canada's food industry future. The Food Professor #podcast is presented by Caddle. About UsDr. Sylvain Charlebois is a Professor in food distribution and policy in the Faculties of Management and Agriculture at Dalhousie University in Halifax. He is also the Senior Director of the Agri-food Analytics Lab, also located at Dalhousie University. Before joining Dalhousie, he was affiliated with the University of Guelph's Arrell Food Institute, which he co-founded. Known as “The Food Professor”, his current research interest lies in the broad area of food distribution, security and safety. Google Scholar ranks him as one of the world's most cited scholars in food supply chain management, food value chains and traceability.He has authored five books on global food systems, his most recent one published in 2017 by Wiley-Blackwell entitled “Food Safety, Risk Intelligence and Benchmarking”. He has also published over 500 peer-reviewed journal articles in several academic publications. Furthermore, his research has been featured in several newspapers and media groups, including The Lancet, The Economist, the New York Times, the Boston Globe, the Wall Street Journal, Washington Post, BBC, NBC, ABC, Fox News, Foreign Affairs, the Globe & Mail, the National Post and the Toronto Star.Dr. Charlebois sits on a few company boards, and supports many organizations as a special advisor, including some publicly traded companies. Charlebois is also a member of the Scientific Council of the Business Scientific Institute, based in Luxemburg. Dr. Charlebois is a member of the Global Food Traceability Centre's Advisory Board based in Washington DC, and a member of the National Scientific Committee of the Canadian Food Inspection Agency (CFIA) in Ottawa. Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career. Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada's Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.Rethink Retail has recognized Michael as one of the top global retail experts for the fourth year in a row, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael's cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.
In this new podcast, I interview Maxime Bernier, leader of the People's Party of Canada, discussing key issues in the upcoming federal Canadian election (April 28). Max was arrested in 2021 for attending an anti-authoritarian rally in Manitoba in 2021. He has been an ardent defender of civil liberties and free speech throughout the pandemic.We delve into economic policies, taxation, trade wars, government spending, immigration, and the party's vision for Canada in our conversation. Bernier emphasizes the need for fiscal responsibility, a reduction in mass immigration, and a focus on Canadian values and individual freedoms. Bernier argues for a clearer Canadian identity that promotes unity over diversity, while still valuing the contributions of various cultures. Bernier explains here why the Conservative party of Canada is weak, unprincipled, and ultimately powerless in undermining the Liberal Party.Rumble podcast link:https://rumble.com/v6shb45-maxime-bernier-on-canadas-economic-cultural-and-political-trajectory.html?e9s=src_v1_ucpUpgrade to paid membership now to watch the exclusive preview of this critical conversation:Chapters:00:00 Introduction to the People's Party of Canada03:04 Economic Policies and Their Impact06:02 Taxation and Wealth Creation08:58 Trade Wars and Tariffs11:55 Supply Management and Consumer Impact15:12 Government Spending and Inflation17:51 Defining the People's Party of Canada20:48 Social Safety Nets and Crime23:53 Immigration Policies and Economic Feasibility26:57 Cultural Dynamics of Immigration30:09 International Students and Employment33:02 Conclusion and Future Directions40:55 STEM Immigration and Job Market Dynamics46:49 Moratorium on Immigration: A Necessary Pause50:43 Economic Implications of Mass Immigration54:53 Cultural Integration vs. Multiculturalism01:04:40 Defining a Canadian Identity01:12:56 Revisiting Multiculturalism in CanadaTakeaways:* Mass immigration is not solving the aging population issue in Canada.* Government spending during COVID-19 has contributed to inflation.* The People's Party of Canada promotes individual freedom and personal responsibility.* Crime rates have doubled under Trudeau's leadership.* A moratorium on immigration is necessary to address current economic challenges.* International students should not have the right to work while studying. They should apply for immigration through proper channels. Mass immigration is a pressing issue in Canada.* A moratorium on immigration is necessary to address current challenges.* The job market is affected by the influx of low-skilled immigrants.* Cultural integration is crucial for societal cohesion.* Multiculturalism policies may hinder immigrant integration.* A clear Canadian identity is needed to unite diverse populations.* Economic growth does not equate to improved living standards for all.* Housing shortages are exacerbated by mass immigration.* High-skilled immigrants are welcomed, but low-skilled immigration needs to be controlled.* The federal government should not promote multiculturalism.Quotes:* "We must have 0% inflation."* "We need to stop that mass immigration."* "We must promote what unites us."* "Diversity is killing our country."* "We must not promote multiculturalism."Become a paid member now to gain access to this exclusive interview: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.illusionconsensus.com/subscribe
How intertwined are we with the U.S. auto sector, Canadian dairy supply management, Travel Canada just got bigger Learn more about your ad choices. Visit megaphone.fm/adchoices
Dairy farmers are praising Canada's supply management system Learn more about your ad choices. Visit megaphone.fm/adchoices
Wall Street closed Tuesday's session higher in yet another volatile session as traders took advantage of market uncertainty ahead of Trump's tariff handouts on April 2nd US time, and on the back of weaker-than-expected economic data weighing on investor sentiment. The S&P500 rose 0.38%, the Dow Jones added 0.03% and the Nasdaq ended the day up 0.87%. Investor sentiment was also hit by the Institute for Supply Management manufacturing survey coming in lighter than expected and in contraction territory for February, while February's job openings were also slightly below estimates in signs the economy is slowing due to tariff implications on US economic stability.In Europe overnight, markets reversed Monday's losses to close higher as eurozone inflation data for March showed inflation in the region cooled as expected to 2.2% for the month. The STOXX 600 rose 1.07%, Germany's DAX added 1.7%, the French CAC gained 1.1% and, in the UK, the FTSE100 ended the day up 0.61%.Across the Asia markets on Tuesday, markets also rebounded in the region following Monday's sell-off as investors await clarity on Trump's incoming tariffs, Japan's Nikkei rose 0.11%, South Korea's Kospi Index added 1.62%, Hong Kong's Hang Seng gained 0.38% and China's CSI index ended the day flat.The local market started the trading week mixed with the third-worst session of 2025 posted on Monday followed by a recovery on Tuesday with the key index ending Tuesday's session up 1%.The RBA also held the nation's cash rate at 4.1% for the next period to assess the unfolding trade situation with the US and to ensure inflation in Australia remains on track in the target range of 2-3%.Elsewhere in the economic data space, Australia's latest retail sales figures for February were released yesterday coming in at a rise of 0.2% for February which fell short of economists' expectations and is a positive reading for Australia's inflation journey easing as consumer spend is a big contributor to inflationary pressures.Investors really are riding the wave of volatility right now ahead of Trump's ‘Liberation Day' reciprocal tariff day in the US on Wednesday the 2nd April whereby it is expected the US President will announce an array of tariffs on countries that he believes have been unfairly taxing US imports for some time.The recent volatility has propelled gold to yet another record high overnight with the price of the commodity touching US$3145/ounce as investors flock to the safe-haven asset during times of high uncertainty.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX will open the day up 0.35% tracking Wall Street's rally overnight.On the commodities front this morning, oil is trading 0.33% lower at US$71.25/barrel, gold is down 0.24% at US$3112/ounce and iron ore is up 0.08% at US$102.51/tonne.The Aussie dollar has slightly strengthened against the greenback overnight to buy US$0.62, 93.70 Japanese Yen, 48.44 British pence and NZ$1.10 cents.Trading Ideas:Bell Potter has downgraded Opthea (ASX:OPT) to a sell rating from a buy rating and have dropped the 12-month price target on the company to 5cps following the release of Phase 3 trial results that failed to show any benefit in improving visual acuity when combined with either Eylea or Lucentis across both primary and key secondary endpoints.And Bell Potter has raised the 12-month price target on Aristocrat Leisure (ASX:ALL) from $83 to $85 and maintain a buy rating on the hotels and gaming company after the company's Phoenix Link has grown to 750 units in the EK database after just 4-months with performance strong at 2.5x floor average although trending down. The analyst expects operating momentum in FY25 to accelerate, particularly in Gaming Operations.
In this episode, Liz Ann Sonders and Kathy Jones discuss the current sentiment in the market, contrasting consumer sentiment with investor sentiment amid economic uncertainty. They explore the implications of bearish investor attitudes and the potential for a recession and reflect on the anniversary of the COVID-19 pandemic's impact on the economy. The conversation also highlights key economic indicators to watch in the coming week, including retail sales and Fed decisions.Then, Liz Ann speaks with Kevin Gordon about the overall economic landscape, focusing on recession indicators, labor market dynamics, and the recent earnings season. They explore the implications of tariff policies on business confidence and the challenges companies face in providing guidance, given the uncertainty. Kathy and Liz Ann also discuss the data and economic indicators they will be watching in the coming week, including the upcoming FOMC meeting.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. Investing involves risk, including loss of principal. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled "Characteristics and Risks of Standardized Options" before considering any option transaction.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The Economic Policy Uncertainty Index measures newspaper coverage of policy-related economic uncertainty, the number of federal tax code provisions set to expire, and disagreement among economic forecasters. https://www.policyuncertainty.com/index.htmlISM is the Institute for Supply Management.PMI is the Purchasing Managers Index.(0325-5PME)
S.O.S. (Stories of Service) - Ordinary people who do extraordinary work
Send us a textWhen two fellow military podcasters get together, ones who are both deeply passionate in fighting the mental health stigma by taking better care of Sailors, well you know it's going to be a great conversation! Ladies and gentleman, is my honor to bring you the man behind the Don't Give Up the Ship podcast! In this episode, we sit down with DGUTS, a retired Master Chief Petty Officer with 21 years of experience in the submarine service. Throughout his distinguished career, he served in critical leadership roles, including Division and Departmental Leading Chief Petty Officer, Command Career Counselor, and Senior Enlisted Leader of CS “A” School. His expertise spans Naval Military Training, Supply Management, and Equal Opportunity, making a lasting impact on those he served with.Since retiring in September 2022, DGUTS has embarked on a new mission—pursuing a graduate degree in counseling with the goal of becoming a licensed mental health counselor for veterans. Join us as we discuss his transition from military service to mental health advocacy, the challenges veterans face, and the importance of support systems in post-military life.Tune in for insights on leadership, service, and the power of giving back.
Clyde joins us to chat about current events in Canada and the evolution of his YouTube channel after Covid. We talk about the latest from the PBD podcast vindicating him, his stance on Canadian Conservatives, PP and the messaging. Immigration, Fentanyl, RCMP lab busts, election predictions, the corrupt Dairy Lobby, Supply Management and tariffs are also discussed. And we talk about moving to the USA, Trumps last move, trade protectionism and Elon and Trump. In the last part we chat about some of the differences between Canada and USA, record lows on Chinese goods, Alberta and the 51st State, lazy people, Marx, socialism, the Brain Drain, Atlas Shrugged, Canadian media, the job numbers, Gov EE's, and medical stuff. https://www.youtube.com/@ClydeDoSomething https://x.com/ClydeDoSomethin To gain access to the second half of show and our Plus feed for audio and podcast please clink the link http://www.grimericaoutlawed.ca/support. For second half of video (when applicable and audio) go to our Substack and Subscribe. https://grimericaoutlawed.substack.com/ or to our Locals https://grimericaoutlawed.locals.com/ or Rokfin www.Rokfin.com/Grimerica Patreon https://www.patreon.com/grimericaoutlawed Support the show directly: https://grimericacbd.com/ CBD / THC Tinctures and Gummies https://grimerica.ca/support-2/ Outlawed Canadians YouTube Channel: https://www.youtube.com/@OutlawedCanadians Our Adultbrain Audiobook Podcast and Website: www.adultbrain.ca Our Audiobook Youtube Channel: https://www.youtube.com/@adultbrainaudiobookpublishing/videos Darren's book www.acanadianshame.ca Check out our next trip/conference/meetup - Contact at the Cabin www.contactatthecabin.com Other affiliated shows: www.grimerica.ca The OG Grimerica Show www.Rokfin.com/Grimerica Our channel on free speech Rokfin Join the chat / hangout with a bunch of fellow Grimericans Https://t.me.grimerica https://www.guilded.gg/chat/b7af7266-771d-427f-978c-872a7962a6c2?messageId=c1e1c7cd-c6e9-4eaf-abc9-e6ec0be89ff3 Leave a review on iTunes and/or Stitcher: https://itunes.apple.com/ca/podcast/grimerica-outlawed http://www.stitcher.com/podcast/grimerica-outlawed Sign up for our newsletter http://www.grimerica.ca/news SPAM Graham = and send him your synchronicities, feedback, strange experiences and psychedelic trip reports!! graham@grimerica.com InstaGRAM https://www.instagram.com/the_grimerica_show_podcast/ Purchase swag, with partial proceeds donated to the show www.grimerica.ca/swag Send us a postcard or letter http://www.grimerica.ca/contact/ ART - Napolean Duheme's site http://www.lostbreadcomic.com/ MUSIC Tru Northperception, Felix's Site sirfelix.bandcamp.com
Millennials have — on average — more wealth than their parents did at the same age. So why does it feel like they're doing so much worse? On this week's TLDR, we take a look at some data that gets to the heart of our economic insecurities. Plus, gold is the best performing asset of the year so far. What's driving its success? And, how eggs prices are giving Canadians something (else) to brag about.This episode was hosted by Devin Friedman, business reporter Sarah Rieger and former hedgefunder Matthew Karasz, with appearances by TLDR newsletter editor Jared Sullivan and Fast Company data editor Andrew Thompson. Follow us on other platforms, or subscribe to our weekly newsletter: linkin.bio/tldrThe TLDR Podcast is offered by Wealthsimple Media Inc. and is for informational purposes only. The content in the TLDR Podcast is not investment advice, a recommendation to buy or sell assets or securities, and does not represent the views of Wealthsimple Financial Corp or any of its other subsidiaries or affiliates. Wealthsimple Media Inc. does not endorse any third-party views referenced in this content. More information at wealthsimple.com/tldr.
In this episode of the Ag Tribes Report, host Vance Crowe is joined by Amanda Radke, a prominent figure in the agricultural community known for her work as a cattle rancher, motivational speaker, and children's book author. Amanda shares her insights on the controversial use of eminent domain for carbon pipelines, highlighting her relentless fight against these projects in South Dakota. She discusses the origins of the carbon pipeline projects, the political and financial implications, and the grassroots efforts to protect private property rights.Amanda also introduces "Bid on Beef," a platform connecting consumers with ranchers to purchase high-quality beef directly. She explains the motivation behind the initiative and its impact on rural America.The episode delves into the implications of RFK Junior's confirmation as the US Secretary of Health and Human Services, exploring potential shifts in US health policy and its effects on agriculture. Vance and Amanda discuss the mixed reactions within the agricultural community and the broader implications for public health.The conversation shifts to the beef checkoff program and its recent controversial tweet regarding private cattle sales. Amanda shares her perspective on the program's effectiveness and the need for transparency and accountability.Vance and Amanda also explore the potential impact of ending managed supply in Canada, discussing the political and economic ramifications and the possibility of Canadian provinces seeking US statehood.The episode concludes with discussions on Bitcoin land prices, the Peter Thiel paradox, and Amanda's views on government intervention in agriculture. Amanda shares her thoughts on the importance of free markets and entrepreneurship in the agricultural sector.Legacy Interviews - A service that records individuals and couples telling their life stories so that future generations can know their family history. https://www.legacyinterviews.com/experienceRiver.com - Invest in Bitcoin with Confidence https://river.com/signup?r=OAB5SKTP(01:06) Introduction and Guest Introduction(02:24) Bid on Beef: Connecting Consumers with Ranchers(03:35) The Fight Against Carbon Pipelines(10:28) RFK Jr.'s Confirmation and Its Implications(13:05) Controversy Over Beef Checkoff Program(16:19) Managed Supply and Canadian Agriculture(21:24) Bitcoin Land Price Report(24:45) Peter Thiel Paradox: Unique Beliefs(28:27) Worthy Adversaries: Respectful Disagreementshttps://serve.podhome.fm/the-vance-crowe-podcast_638721156549613591
It sounds duller than watching paint dry, but an issue called "supply management" is one of the key factors in Donald Trump's tariff decision. Trump has criticized Canada's protected agriculture industries for years, and now he's been pointing to supply management in the dairy sector as one of the reasons for his tariff threats. What is the decades-old policy that manages how much dairy product is produced in Canada? And why does Trump care about it?Host David Smith gets a lesson in agriculture production and trade policy from The Food Professor, Sylvain Charlebois, Director of the Agrifood Analytics Lab at Dalhousie University. We love feedback at The Big Story, as well as suggestions for future episodes. You can find us:Through email at hello@thebigstorypodcast.ca Or @thebigstoryfpn on Twitter
Is it time to say good riddance to Supply Management in the dairy industry? Guest: Ryan Cardwell - Professor, Department of Agricultural Economics, University of Manitoba Learn more about your ad choices. Visit megaphone.fm/adchoices
BC is bracing for Trump's tariff announcement. What exactly is the President's end game? A shark in a Louisiana aquarium gave birth to a baby shark… but there were no males in the tank! Is this a miracle or just the miracle of nature? Last night at a press conference, President Donald Trump blamed DEI for the plane/helicopter crash that took the lives of 64 people. Is it time to say good riddance to Supply Management in the dairy industry? Learn more about your ad choices. Visit megaphone.fm/adchoices
Torch Dental is revolutionizing the dental supply chain with a digital-first platform that's raised $49.5M in funding. The company is transforming how dental practices manage, order, and budget their supplies through a technology-driven approach that provides transparency and efficiency in an industry traditionally resistant to change. In this episode of Category Visionaries, Khaled Boukadoum shares insights from Torch Dental's journey from door-to-door sales in Manhattan to a nationwide platform serving dental practices across 48 states. Topics Discussed: The origins of Torch Dental and identifying supply chain inefficiencies Evolution from field sales to digital-first acquisition Building and scaling marketing operations in a traditional industry Competing with established incumbents through technological innovation Geographic expansion strategy and future growth plans GTM Lessons For B2B Founders: Start with Deep Problem Understanding: Khaled's journey began by deeply understanding the dental practice ecosystem through his sister's experience. As he explains, "She kind of came out of school after years and years of clinical training... and really isn't much training on [running a practice]." This firsthand exposure to the market need helped shape their solution. Embrace High-Touch Product Development: Early success came from direct customer interaction. As Khaled notes, "We actually went and started knocking on doors in New York... we'd sign up a few practices, and then we'd run back to our office and we'd actually start chatting with our CTO and kind of make adaptations or changes to the product." This rapid feedback loop was crucial for product-market fit. Demonstrate Clear ROI for Traditional Industries: When selling to technology-resistant industries, value proposition must be unmistakable. As Khaled shares, "You really have to make sure the value prop is super clear and the ROI to the customer is apparent and materially better for them in order for them to adopt the tech." Leverage Data for Personalized Sales: Torch built what they call "pre-torch analytics" which, as Khaled describes, allows them to "create a whole custom demo for them, showing them how much they could save on exactly the same products." This data-driven approach makes the value proposition concrete and personalized. Focus Marketing Efforts on Measurable Outcomes: On marketing strategy, Khaled emphasizes, "We've learned to be super metrics focused... to be really focused on kind of demand capture and demand gen opposed to more of kind of just general brand level marketing." This approach ensures marketing spend generates tangible results. Choose Strategic Expansion Channels: Understanding where your customers are is crucial. As Khaled explains, "We're focused exclusively on dental practices at this stage. So we know who our customer is, we know where they live, and we're just really targeted in our approach on how to communicate with that and where to communicate with them." // Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co
Thanks for tuning in to RealAg on the Weekend! Host Shaun Haney discusses his trip to the Nutrien potash mine as well as the RealAgristudies survey data on which U.S. presidential candidate will have a better impact on Canadian agriculture. Haney is then joined by Justin Shepherd and Graeme Crosbie, both senior economists with Farm… Read More
Thanks for tuning in to RealAg on the Weekend! Host Shaun Haney discusses his trip to the Nutrien potash mine as well as the RealAgristudies survey data on which U.S. presidential candidate will have a better impact on Canadian agriculture. Haney is then joined by Justin Shepherd and Graeme Crosbie, both senior economists with Farm... Read More
Thanks for tuning in to this Friday edition of RealAg Radio. Host Shaun Haney is joined by Kelvin Heppner of RealAgriculture and Tyler McCann with Canadian Agri-Food Policy Institute (CAPI) for the RealAg Issues Panel! The panel discusses a number of topics including: The Liberal caucus “revolt” that wasn’t (so far); The latest around Bill... Read More
Thanks for tuning in to this Friday edition of RealAg Radio. Host Shaun Haney is joined by Kelvin Heppner of RealAgriculture and Tyler McCann with Canadian Agri-Food Policy Institute (CAPI) for the RealAg Issues Panel! The panel discusses a number of topics including: The Liberal caucus “revolt” that wasn’t (so far); The latest around Bill… Read More
Thanks for tuning in to this Friday edition of RealAg Radio. Host Shaun Haney is joined by Kelvin Heppner of RealAgriculture and Tyler McCann with Canadian Agri-Food Policy Institute (CAPI) for the RealAg Issues Panel! The panel discusses a number of topics including: The Liberal caucus “revolt” that wasn’t (so far); The latest around Bill... Read More
For this episode of the Global Exchange podcast, Colin Robertson talks with Tyler McCann and CGAI Fellows Deanna Hoton and John Weekes about Canada as an agri-food power, trade negotiations and supply management. // Participants' bios - Tyler McCann is the Managing Director of the Canadian Agri-Food Policy Institute. His career in agri-food policy includes working for federal ministers, farm groups, industry associations and agri-food businesses - Deanna Horton is a Senior Fellow at the Munk School of Global Affairs and Public Policy and a Global Fellow at the Wilson Center Canada Institute. Her various postings included Tokyo, Washington and service as our ambassador to Vietnam. - John Weekes served as Canada's Chief Negotiator for the NAFTA and then as our Ambassador to the World Trade Organization before a distinguished career in the private sector. // Host bio: Colin Robertson is a former diplomat and Senior Advisor to the Canadian Global Affairs Institute, www.cgai.ca/colin_robertson // Read & Watch: - "Shakespeare's Sisters: How Women Wrote the Renaissance", by Ramie Targoff: https://www.amazon.ca/Shakespeares-Sisters-Women-Wrote-Renaissance/dp/0525658033 - "Mater 2-10", by Hwang Sok-Yong: https://www.amazon.ca/Mater-2-10-Hwang-Sok-yong/dp/1957363312 - "The Trade Guys", with Scott Miller and Bill Reinsch: https://www.csis.org/podcasts/trade-guys - "Rage the Night", by Donna Morrissey: https://www.penguinrandomhouse.ca/books/612626/rage-the-night-by-donna-morrissey/9780735239210 - "What Is Government Good At? A Canadian Answer", by Donald J. Savoie: https://www.mqup.ca/what-is-government-good-at--products-9780773546219.php // Recording Date: October 18, 2024.
Doug Roxburgh, vice-chair of Alberta Beef Producers Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode, Kathy Jones and Liz Ann Sonders discuss the current state of the bond market and the bull market in equities. They explore the volatility in bond yields, the significance of credit spreads, and the importance of employment and inflation data.This week, Kathy speaks with Carol Spain, managing director and head of credit research for Schwab Asset Management. Kathy and Carol delve into the intricacies of credit analysis, exploring Carol's unique career path, the role of credit analysts, and the current conditions in the credit market. They discuss the dynamics between credit research and portfolio management, the trends in credit spreads, and the factors influencing corporate credit quality. The conversation highlights the importance of understanding both macroeconomic conditions and issuer-specific factors in credit analysis, while also addressing the outlook for credit opportunities and potential risks in the market.Lastly, Kathy and Liz Ann review the schedule for next week's economic data and indicators—and tell you which ones really matter.Read the article by Liz Ann Sonders and Kevin Gordon on the bull market, "Is the Two-Year-Old Bull Market 2 Legit 2 Quit?"On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk, including loss of principal.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Diversification strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.ISM is the Institute for Supply Management. https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/JOLTS is the Job Opening and Labor Turnover Survey.(1024-ZTAY)
It’s more common for private member’s bills to make more headway in a minority government, such as the one Canada currently has. Several of these kinds of bills are making their way through parliament right now, and some of them have the potential to not only significantly impact agriculture but also Canada’s trade relationships as... Read More
Featuring Randy Subramany, Director of Supply Chain at New York Presbyterian Hospital. In this conversation we dive deep into the role of technology in driving supply chain innovation. Randy shares his insights on how hospital logistics are evolving, creating a ripple effect throughout healthcare. Discover how leaders like Randy are integrating AI and advanced tech, while navigating disruption to foster healthcare resilience. Find Randy's work at nyp.org Subscribe and stay on the forefront of the digital healthcare revolution. Watch the full video on YouTube @TheDigitalHealthcareExperience The Digital Healthcare Experience is a hub to connect healthcare leaders and tech enthusiasts. Powered by Taylor Healthcare, this podcast is your gateway to the latest trends and breakthroughs in digital health. About Us: Taylor Healthcare empowers healthcare organizations to thrive in the digital world. Our technology streamlines critical workflows such as procedural and surgical informed consent, ransomware downtime mitigation, contactless patient check-in, RX color coding solutions and more. Learn more at taylor.com/digital-healthcare The Digital Healthcare Experience Podcast Powered by Taylor Healthcare Produced by Naomi Schwimmer Hosted by Chris Civitarese Edited by Eli Banks Music by Nicholas Bach
The cattle cycle is something everyone in the beef business is familiar with, but one incredibly bright spot in the current cycle is the quality of beef U.S. cattlemen are bringing to the table with less cattle overall. On this episode, we are joined by Paul Dykstra, Director of Supply Management & Analysis with Certified Angus Beef. Take a listen as Paul and our very own Miranda Reiman chat about recent data on CAB cattle harvested, the data backing CAB brand standards, improvements in the quality of cattle over the last decade and the incredible job U.S. cattle producers are doing at bringing high quality cattle to market.We thank Westway Feed Products for their support of this episode.Find more information to make Angus work for you in the Angus Beef Bulletin and ABB EXTRA. Make sure you're subscribed! Sign up here to the print Angus Beef Bulletin and the digital Angus Beef Bulletin EXTRA. Have questions or comments? We'd love to hear from you! Contact our team at abbeditorial@angus.org.
In this episode of "Nurturing Financial Freedom," we discuss the surprising market volatility that occurred in early August 2024 and explore what investors should take away from these events. But first, we actually met in person last month - for the first time after working together for over five years!The market's volatility in August was triggered primarily by two factors: weaker-than-expected economic reports and high market valuations. The Institute for Supply Management's report on business indicated declining confidence in the manufacturing sector, which, alongside a disappointing non-farm payroll report, caused investors to worry that the economy might be slowing too quickly in its fight against inflation. This led to a significant market pullback, particularly in the Dow Jones Industrial Average, which dropped 2,000 points over a few days. But even in the time between writing this episode and recording it, market volatility has calmed.Alex and Ed emphasize that while these reports sparked concern, the broader economic context remains positive. They remind listeners that market fluctuations are normal, and short-term downturns don't necessarily signal long-term issues. The key takeaway is the importance of maintaining a balanced and diversified portfolio to withstand such volatility. They also highlight the Federal Reserve's potential role in stabilizing the economy, noting that if a significant slowdown occurs, the Fed has the ability to cut interest rates to stimulate growth. It's possible we see this after their next meeting in September.Predicting short-term market movements is extremely difficult, akin to forecasting the weather. Instead, the focus should be on long-term strategies and maintaining perspective during turbulent times. Ed advises against panicking during market volatility, stressing the importance of staying the course with a well-diversified investment plan. You can always email Alex and Ed at info@birchrunfinancial.com or give them a call at 484-395-2190.Or visit them on the web at https://www.birchrunfinancial.com/Alex and Ed's Book: Mastering The Money Mind: https://www.amazon.com/Mastering-Money-Mind-Thinking-Personal/dp/1544530536 Any opinions are those of Ed Lambert and Alex Cabot and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The examples throughout this material are for illustrative purposes only. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional. Diversification and asset allocation do not ensure a profit or protect against a loss. Past performance is not indicative of future returns. CDs are insured by the FDIC and offer a fixed rate of return, whereas the return and principal value of investment securities fluctuate with changes in market conditions. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. Stock Market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. International investing involves special risks, including currency fluctuations, differing financial accounting standards, and possible political and economic volatility. There is an inverse relationship between interest rate movements and bond prices. Generally, when interest rates rise, bond prices fall and when interest rates fall, bond prices generally rise. Investing in small cap stocks generally involves greater risks, and therefore, may not be appropriate for every investor. The prices of small company stocks may be subject to more volatility than those of large company stocks. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Birch Run Financial is not a registered broker/dealer and is independent of Raymond James Financial Services. Birch Run Financial is located at 595 E Swedesford Rd, Ste 360, Wayne PA 19087 and can be reached at 484-395-2190. Any rating is not intended to be an endorsement, or any way indicative of the advisors' abilities to provide investment advice or management. This podcast is intended for informational purposes only.Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users or members.
Kathy and Liz Ann catch up on recent market volatility, the Fed's next move, and changes in the economic data. There is some debate about whether the Fed should cut by 50 basis points in September or the expected 25 basis points. They also touch on the importance of inflation, the labor market, and global growth in the Fed's decision-making process. Next, Kathy is joined by Matt Hastings, managing director and head of Bond Index Strategies for Schwab Asset Management. He leads the portfolio management team for the Schwab taxable bond mutual funds and Schwab fixed income ETFs and has overall responsibility for all aspects of the management of the funds. They discuss Matt's background in the industry, his role at Schwab, and the challenges of managing fixed income portfolios on a day-to-day basis. Matt and Kathy discuss how index tracking works, the vital role of liquidity in the bond market, recent market volatility, and the impact of Fed policy. Matt provides insights into the role of bond funds and ETFs for investors and emphasizes the importance of understanding what you're buying.Finally, Kathy and Liz Ann provide their outlook for the next week's economic data and market events.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Mortgage-backed securities (MBS) may be more sensitive to interest rate changes than other fixed income investments. They are subject to extension risk, where borrowers extend the duration of their mortgages as interest rates rise, and prepayment risk, where borrowers pay off their mortgages earlier as interest rates fall. These risks may reduce returns.Currency trading is speculative, volatile and not suitable for all investorsThe information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.ISM is the Institute for Supply Management. https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/(0824-ECAD)
In this Real Estate News Brief for the week ending August 3rd, 2024... why concern is growing about the job market, how home affordability just got a little better, and what's happening with commercial property foreclosures. We begin with economic news from this past week. It's been a bumpy ride for stock traders. The latest reports on the job market sent Wall Street into somewhat of a tailspin, but as fast as that happened, a report from the Institute of Supply Management helped soften the blow... LINKS: JOIN RealWealth® FOR FREE
In the latest episode of The JDE Connection, hosts Paul Houtkooper and Chandra Wobschall continue their series on JD Edwards' feature functionality, focusing on the supply management module aka procurement. They take an in-depth look at the module's capabilities, including procurement and subcontract management, buyer workspace, agreement management, supplier self-service, requisition self-service, and operational sourcing. They discuss how these features help organizations streamline their procurement processes, manage supplier relationships, and maintain end-to-end visibility throughout the supply chain. 04:30 Explanation of the Supply Management system 07:05 Procurement and subcontracts 09:08 Buyer workspace 10:02 Agreement management 12:03 Supplier self-service 12:43 Requisition self-service 13:34 Operational Sourcing 16:20 Midwesternism Resources: JD Edwards EnterpriseOne Supply Management Products: https://www.oracle.com/applications/jd-edwards-enterpriseone/supply-management/ 2024 Minnesota State Fair New Foods: https://m.startribune.com/minnesota-state-fair-new-foods-2024/600379332/?utm_source=newsletter&utm_medium=email&utm_campaign=newsalert&clmob=y&c=n If you have concerns or feedback on this episode or ideas for future episodes, please contact us at thejdeconnection@questoraclecommunity.org.
Kathy and Liz Ann discuss this week's expectations around the upcoming jobs report and its influence on the Fed. Their discussion highlights the importance of full employment and wage growth for the Fed. The conversation also mentions other important metrics like long-term unemployment, part-time versus full-time employment, and hours worked. The recent data on service-sector activity, initial unemployment claims, and continuing claims suggest a weakening job market. Then, Kathy Jones is joined by Joe Brusuelas, who is an economist with RSM. He has expertise in U.S. monetary policy and labor markets. They discuss the potential for rate cuts, the impact of technology on productivity, the rising budget deficit, and geopolitical risks—as well as the specific challenges faced by middle-market companies, such as elevated financing costs and labor shortages. Finally, Kathy and Liz Ann offer their outlook on the week's upcoming economic indicators.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk, including loss of principal.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.ISM is the Institute for Supply Management. https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.(0724-BGNH)
Supply Management and Context Abstract Greg and Fred discuss why today’s business model is often based on managing an organization’s brand and outsourcing design, reliability, and quality. Key Points Join Greg and Fred as they discuss supply context and risk. Topics include: Changes in today’s business and operating models. Changes in how suppliers are evaluated […] The post SOR 978 Supply Management and Context appeared first on Accendo Reliability.
On this episode, Justin Rose, the President, Lifecycle Solutions, Supply Management, and Customer Success, John Deere, discusses the implementation of AI in customer success. He highlights the challenge of determining when and how to intervene with customers based on AI insights, without being overly prescriptive or intrusive. He emphasizes the importance of customer feedback and engagement in shaping AI solutions. Justin also addresses ethical considerations, such as safety and data security, and emphasizes the need for transparency and trust. He shares resources for AI implementation and innovation, and advises customer experience leaders to be bold and incremental in driving innovation. Key Takeaways:John Deere is investing in new technology to enhance the customer experience in agriculture.Making technology accessible to all farmers through a subscription-based pricing model called Solutions as a Service.John Deere is building a customer success function that leverages AI to deliver personalized and proactive support.Developing agentic AI systems that can triage data, customize communications, and drive interventions for each individual customer.The human touch is still important in areas such as initial sales, renewals, and escalations. Determining when and how to intervene with customers based on AI insights is a challenge in customer success.Customer feedback and engagement are crucial in shaping AI solutions.Ethical considerations, such as safety and data security, must be addressed in AI implementation.Transparency and trust are key in building strong customer relationships.Being bold and incremental is important in driving innovation in customer experience.
Watch Alix and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Timothy Fiore, Chair for the Institute for Supply Management's (ISM) Manufacturing Business Survey Committee, discusses the latest manufacturing PMI data. Dennis Lockhart, Former Atlanta Fed President, discusses today's Fed meeting. Jeffrey Cleveland, Chief Economist at Payden & Rygel, joins to discuss today's Fed meeting and his outlook for the US economy. Priya Misra, Fixed Income Portfolio Manager, at JP Morgan Asset Management, discusses the latest on the markets. Anurag Rana, Bloomberg Intelligence Technology Analyst, recaps Amazon earnings. Hosts: Paul Sweeney and Alix SteelSee omnystudio.com/listener for privacy information.
This week Ivy Slater, host of Her Success Story, chats with her guest, Kathy Perna. The two talk about procurement and supply chain, Kathy's interesting and evolving journey, and the variations she has seen in the industry in her 31 year career. In this episode, we discuss: How Kathy's career began and has evolved greatly along the way What influences and mentors have helped to propel Kathy's growth and movement What changes she has seen in her industry in the 31 years she's been in the business Why she started a women's conference for her New Jersey chapter When Kathy has seen the most impactful changes in supply chain, and how she navigated the challenges What surprises she has found in her journey How Kathy brings together industry leaders and suppliers for roundtables to continue growth and development Where she sees supply chain management going, and how it has shifted since the pandemic What advice Kathy has for all women leaders Kathy Perna is the owner of KMP Associates, LLC, a management consulting firm for over 30 years, responsible for the day-to-day operation and management of professional associations. Major clients include the Institute for Supply Management in New Jersey for which she is responsible for the organization and execution of all leadership training, professional off-site seminars, webinar planning and execution, social event planning, awards banquets and business activities including yearly budget establishment and daily monetary / banking management. Kathy has extensive business leadership and interpersonal people interface skills which are applied daily in the management of professional organizations. She also supports chapters in Rochester NewYork, Carolinas Virginia and most recently Denver Colorado. Kathy continues to volunteer for the Institute for Supply Management (ISM) Annual International Conference for over 18 years.
Landaas & Company newsletter April edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Steve Giles (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (April 1-5, 2024) Significant Economic Indicators & Reports Monday U.S. factories began emerging from a slump in March, according to the Institute for Supply Management. The trade group said its manufacturing index suggested the sector expanded for the first time since September 2022 with increased demand and stronger output. The ISM said the turnaround was in an early stage and uneven, with 30% of the firms surveyed still contracting, vs. 40% in February. Based on past trends, the ISM said, the index suggested the gross domestic product was growing at a 2.2% annual rate. The Commerce Department said construction spending declined by 0.3% in February, the second monthly setback after one year of increases. The seasonally adjusted annual rate of spending neared $2.1 trillion. Residential construction spending, which makes up about 44% of the total, rose 0.7% from January despite a drop in multi-family housing. Government spending, which accounts for 23% of the total, declined 1.2%. Since February 2023, total expenditures rose 10.7% with residential up 6.5% and manufacturing up 32%. Tuesday Employers posted marginally more job openings in February, continuing to reflect a labor market in which demand outpaces supply. Postings were just under 8.8 million, down from a record 12.2 million nearly two years ago and still above the 7 million level just before the COVID pandemic. Other signs of a stronger employment market: hirings, separations – including layoffs, firings and voluntary quits – changed little from January. The Commerce Department reported a 1.4% gain in manufacturing orders in February, the first advance in three months. Demand for commercial aircraft led the increase. Excluding the volatile transportation category, factory orders rose 1.1% from January. Compared to February 2023, total orders were up 1% and up 1.4% excluding transportation. Core capital goods orders, a proxy for business investments, rose 0.7% for the month and were up 1.4% from the year before. Wednesday The U.S. services sector expanded in March, though at a slower rate, according to the Institute for Supply Management. The trade group's services index indicated the 15th month in a row of growth. Based on surveys with purchasing managers, the index showed orders for services cooling while hiring contracted. Logistics and supply chains continued to improve following disruptions in the aftermath of the pandemic. Thursday The U.S. trade deficit grew in February for the third month in a row and to its widest gap in 10 months. The Bureau of Economic Analysis said the deficit expanded by 1.9% from January to $68.9 billion. The value of exports rose by 2.3%, led by crude oil, aircraft, soybeans and autos. Imports increased by 2.2%, led by cell phones, travel services, pharmaceuticals and autos. Since February 2023, the gap widened by 2.8% with exports growing 1.8% and imports rising 0.8%. The trade deficit detracts from economic growth, as measured by gross domestic product. The Labor Department reported that the four-week moving average for initial unemployment claims rose for the third time in four weeks. Average claims remained 42% below the 57-year average, continuing to reflect employer reluctance to let workers go in an historically tight labor market. Total claims were little changed from the week before at 2 million, which was 7% higher than at the same time last year. Friday U.S. employers continued to add jobs in March – for the 39th month in a row and at a swifter pace. The jobs report from the Bureau of Labor Statistics showed 303,000 more jobs than February, up from the six-month average of 231,000. The leisure and hospitality industry finally recovered to its February 2020 pre-pandemic employment level.
The orthodontic industry is a whirlwind of innovation – new aligner companies, cutting-edge scanners, 3D printers, and countless materials pop up all the time. While exciting, this rapid change creates a confusing maze for practices trying to make the best supply choices.So, how do you have the best deals without cutting corners on quality?Here's where experts like Mari Sawtelle Dunn come in. Mari's List, founded by this industry veteran, helps orthodontic practices make smarter supply purchasing decisions. They negotiate directly with companies and pass the deals to doctors.Mari's List is the go-to resource for orthodontic practices that want to streamline their supply chain, reduce costs, and ensure top-notch product quality. Here's what sets it apart:- Collective Buying Power: Mari's List leverages the purchasing power of its members to negotiate incredible discounts with trusted vendors.- Quality Control: No grey market products allowed! Mari's List vets suppliers to guarantee you receive reliable, high-quality materials.- Expert Support: With Mari's extensive industry knowledge, members gain access to valuable advice and support.Mari Sawtelle and Mari's List give orthodontic practices the knowledge and tools needed to improve their bottom line without sacrificing their commitment to excellent care.Click to listen and discover how to take control of your expenses and optimize your operations with Mari's List.Key TakeawaysIntro (00:00)Mari Sawtelle's background (02:03)What's the secret sauce of Mari's list (07:30)Grey market goods vs black market goods (09:28)Mistakes people make with ordering platforms (14:44)Missed opportunities with ordering (18:20)How to join Mari's List and cost (23:41)Dogs and The Grey Muzzle Organization (24:50)Additional Resources- Mari's List: https://www.marislist.com/- Mari Sawtelle's LinkedIn: https://www.linkedin.com/in/mari-sawtelle-dunn-2256795/- Mari's List Facebook: https://web.facebook.com/marislist- The Grey Muzzle Organization: https://www.greymuzzle.org/—-- Register for the OrthoPreneurs Summit at Sea (2024): https://opsummitatsea.com/- For more information, visit: https://orthopreneurs.com/- Join our FREE Facebook group here: https://www.facebook.com/groups/OrthoPreneurs
Watch Alix and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Timothy Fiore, Chair for the Institute for Supply Management's (ISM) Manufacturing Business Survey Committee, discusses ISM manufacturing data. Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, discusses the latest at UPS and FedEx. Carol Pepper, Founder and CEO at Pepper International, joins to discuss her outlook for the markets. Steve Man, Global Autos and Industrials Research Analyst, discusses the latest on Tesla. Kristina Hooper, Chief Global Markets Strategist at Invesco, discusses her outlook for the markets.Hosts: Paul Sweeney and Alix SteelSee omnystudio.com/listener for privacy information.
Our head of Corporate Credit Research explains why the Purchasing Manager's Index is a key indicator for investors to get a read on the economic outlook.----- Transcript -----Welcome to Thoughts on the Market. I'm Andrew Sheets, head of Corporate Credit Research at Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape, and how we put those ideas together.It's Friday, March 1st at 2pm in London.A perennial problem investors face is the tendency of markets to lead the economic data. We're always on the lookout for indicators that can be more useful, and especially more useful at identifying turning points. And so today, I want to give special attention to one of our favorite economic indicators for doing this: the Purchasing Manager Indices, or PMIs. And how they help with the challenge that economic data can sometimes give us.PMIs works by surveying individuals working in the manufacturing and services sector – and asking them how they're viewing current conditions across a variety of metrics: how much are they producing? How many orders are they seeing? Are prices going up or down? These sorts of surveys have been around for a while: the Institute of Supply Management has been running the most famous version of the manufacturing PMI since 1948.But these PMIs have some intriguing properties that are especially helpful for investors looking to get an edge on the economic outlook.First, the nature of manufacturing makes the sector cyclical and more sensitive to subtle turns of the economy. If we're looking for something at the leading edge of the broader economic outlook, manufacturing PMI may just be that thing. And that's a property that we think still applies -- even as manufacturing over time has become a much smaller part of the overall economic pie. Second, the nature of the PMI survey and how it's conducted – which asks questions whether conditions are improving or deteriorating – helps address that all important rate of change. In other words, PMIs can help give us insight into the overall strength of manufacturing activity, whether that activity is improving or deteriorating, and whether that improvement or deterioration is accelerating. For anyone getting flashbacks to calculus, yes, it potentially can show us both a first and a second derivative.Why should investors care so much about PMIs?For markets, historically, Manufacturing PMIs tend to be most supportive for credit when they have been recently weak but starting to improve. Our explanation for this is that recent weakness often means there is still some economic uncertainty out there; and investors aren't as positive as they otherwise could be. And then improving means the conditions likely are headed to a better place. In both the US and Europe, currently, Manufacturings are in this “recently weak, but improving” regime – an otherwise supported backdrop for credit.If you're wondering why I'm mentioning PMI now – the latest readings of PMI were released today; they tend to be released on the 1st of each month. In the Eurozone, they suggest activity remains weak-but-improving, and they were a little bit better than expected. In the US, recent data was weaker than expected, although still showing a trend of improvement since last summer.PMIs are one of many data points investors may be considering. But in Credit, where turning points are especially important, it's one of our favorites. Thanks for listening. Subscribe to Thoughts on the Market on Apple Podcasts, or wherever you listen, and leave us a review. We'd love to hear from you.
Watch Alix and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.George Ferguson Bloomberg Intelligence Senior Aerospace, Defense, and Airlines Analyst, discusses how Boeing is said to be in talks to buy the supplier, Spirit AeroSystems. Herman Chan, Bloomberg Intelligence Senior Analyst for US Regional Banks, joins to breakdown why New York Community Bancorp shares are sinking. Anna Rathbun, CIO at CBIZ Investment Advisory Services, discusses the latest on the markets. Timothy Fiore, Chair for the Institute for Supply Management's (ISM) Manufacturing Business Survey Committee, discusses today's ISM manufacturing data. Joanne Hsu, University of Michigan Surveys of Consumers Director, discusses consumer sentiment data from the University of Michigan.Hosts: Paul Sweeney and Alix SteelSee omnystudio.com/listener for privacy information.
Investors in credit markets pay close attention to the latest economic data. Our head of Corporate Credit Research explains why they should be less focused on the newest numbers and more focused on whether and how those numbers are changing.--------Transcript--------Welcome to Thoughts on the Market. I'm Andrew Sheets, head of Corporate Credit Research at Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape, and how we put those ideas together. It's Friday, February 9th at 2pm in London.Almost every week, investors are confronted with a host of economic data. A perennial question hovers over each release: should we focus more on the level of that particular economic indicator; or its rate of change. In many cases, we find that the rate of change is more important for credit. If so, recent data has brought some encouraging developments with surveys of US Manufacturing, as well as bank lending.I'm mindful that the concept of “economic data” is about as abstract as you can get. So let's dig into those specific manufacturing and lending releases. Every quarter, the Federal Reserve conducts what is known as their Senior Loan Officer [Opinion] Survey, where they ask senior loan officers – at banks – about how they're doing their lending. The most recent release showed that more officers are tightening their lending standards than easing them. But the balance between the two is actually getting a little better, or looser, than last quarter. So, should we care more about the fact that lending standards are tight? Or that they're getting a little less tight than before?Or consider the Purchasing Managers Index, or PMI, from the Institute of Supply Management. This is a survey of purchasing managers at American manufacturers, asking them about business conditions. The latest readings show conditions are still weaker than normal. But things are getting better, and have improved over the last six months.In both cases, if we look back at history, the rate of change of the indicator has mattered more. As a credit investor, you've preferred tight credit conditions that are getting better versus easy credit that's getting worse. You've preferred weaker manufacturing activity that's inflecting higher instead of strong conditions that are softening. In that sense, at least for credit, recent readings of both of these indicators are a good thing – all else equal.But why do we get this result? Why, in many cases, does the rate of change matter more than the level?There are many different possibilities, and we'd stress this is far from an iron rule. But one explanation could be that markets tend to be quite aware of conditions and forward looking. In that sense, the level of the data at any given point in time is more widely expected; less of a surprise, and less likely to move the market.But the rate of change can – and we'd stress can – offer some insight into where the data might be headed. That future is less known. And thus anything that gives a hint of where things are headed is more likely to not already be reflected in current prices. No rule applies in all situations. But for credit, when in doubt, root for a positive rate of change.Thanks for listening. Subscribe to Thoughts on the Market on Apple Podcasts, or wherever you listen, and leave us a review. We'd love to hear from you.
Watch Alix and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Poonam Goyal, Bloomberg Intelligence Senior Analyst for E-Commerce, Athleisure, Off-Price Retail, and Anurag Rana, Bloomberg Intelligence Senior Technology Analyst, preview Amazon and Apple earnings. Julia Pollak, Chief Economist at Zip Recruiter previews tomorrow's U.S jobs report. Timothy Fiore, Chair for the Institute for Supply Management's Manufacturing Business Survey Committee, discusses today's ISM manufacturing data. Blake Moret, Rockwell Automation CEO, discusses earnings. Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Peloton earnings.Hosts: Paul Sweeney and Alix SteelSee omnystudio.com/listener for privacy information.
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