app_store_button

google_play_button

DK - Details page - Device banner - 894x1036

Nyd den ubegrænsede adgang til tusindvis af spændende e- og lydbøger - helt gratis

Lyt når som helst, hvor som helst 

Bloomberg


Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.


Odd Lots

China's dominance of the rare earths market is well known. This not only creates potential vulnerabilities for companies, should access to those rare earths ever get cut off, it also gives China significant leverage in trade negotiations right now. Of course, the issue is not that China is naturally endowed with more of these materials, but rather that, over the decades, it's built up an industrial ecosystem to mine and process them. So, is there any prospect of the US entering the arena in a way that's actually competitive? Our guest says yes. Heidi Crebo-Rediker is a senior fellow in the Center for Geoeconomics Studies at the Council on Foreign Relations. Earlier in her career, she was the US State Department's first chief economist. For the CFR, Heidi has undertaken an extensive study of the US position with respect to rare earths and developed a broad set of suggestions for how the US can actually compete. She discusses the resources we have right now, and the technologies and policies that could make the US competitive in this arena.
 
Read the report here: https://www.cfr.org/report/leapfrogging-chinas-critical-minerals-dominance/
 
Read more:
Why China’s Grip on Critical Minerals Is So Hard to Break
EU to Offer US Critical Minerals Partnership to Check China
 
Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

This Is How The US Can Become a Player in Rare Earth Metals

In the 90s, there was a lot of talk about how the Internet would be a liberalizing force in the world. Bill Clinton famously predicted that it would be impossible for China to lock down the Internet, and that this would have profound effects on domestic politics. Of course that didn't come true -- China has done a remarkable job of controlling what gets behind the firewall. But then furthermore, the Internet hasn't had the liberalizing effects in the US either. On this episode of the podcast, we speak to Yi-Ling Liu, the author of the fascinating new book The Wall Dancers: Searching for Freedom and Connection on the Chinese Internet. The book traces the rise of the Chinese Internet, and how its users navigate the "dance" between freedom and censorship. She talks about the early visions for the Internet in China, and how over time it became a hotbed of nationalism. We discuss what's similar and different, and also what happens when users in both countries are given the opportunity to easily make contact withe each other on social media.
 
Read more: China AI Hardware Firms Trump Internet Giants in Growth Outlook
 
Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

The Surprising Similarity Between the US and Chinese Internets

Utilities analysts are having a moment as the energy sector gets a boost from AI. With an extra 94 gigawatts forecast to be needed by 2030 to power all these new data centers, energy investment has become a hot play as investors take a "picks and shovels" approach. But one long-time analyst says that — from a utilities perspective — we're already set to overbuild capacity by twice as much as is needed. On this episode, Andy DeVries, co-head of investment grade credit and head of utilities and power at CreditSights, talks to us about the math behind his infrastructure overbuild analysis, who has been making money (so far) from the data center boom, and what we already see playing out in the credit markets.
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

The Utilities Analyst Who Says the Data Center Demand Story Doesn't Add Up

Trump has announced that former Fed Governor Kevin Warsh is going to be his nominee to succeed Jerome Powell. The responses to the news are split among some interesting lines. People like Neil Dutta have been highly critical, while at the same time, the pick has earned praise from Jason Furman, who was the Chair of President Obama's Council of Economic Advisers. So who is Kevin Warsh? And why is this pick particularly controversial? On this episode, we talk with Skanda Amarnath, Executive Director of Employ America, who walks us through Warsh's history of commenting on and executing monetary policy. He argues that in addition to having gotten some big calls wrong (particularly in the years surrounding the GFC), Warsh has a history of aligning his policy views with partisan consideration. We also talk about the challenges Warsh will have establishing credibility within the FOMC, as well as challenges that may arise the next time the Fed has to step in during a period of crisis.
 
Read more:
Fed’s Musalem Says It Would Be ‘Unadvisable’ to Lower Rates
Carney, Macklem Congratulate Warsh on Federal Reserve Nomination
 
Only Bloomberg subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

Lots More With Skanda Amarnath on the Risks of Kevin Warsh

The big story this year is the surge in metals. And it's really all metals. The ultimate industrial metal, copper, has been on a massive tear, but so has gold, which has very few industrial uses. And then, of course, silver has seen a blistering rally, in part due to massive buying in China. On this episode, we bring back the man who saw this coming years ago, Carlyle partner Jeff Currie. Prior to joining Carlyle, Currie was a top commodities analyst at Goldman Sachs, and has been calling for the emergence of a brand new supercycle for years now. In this episode, he explains the drivers of this supercycle, and why he thinks we're in the very early days of what will be a multi-year run.
 
Read more:
Gold Retreats in Sudden Selloff After Breaking Through $5,500
China’s Metals Mania Sends Copper Soaring Past $14,500 a Ton
 
Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

Jeff Currie on the Crazy Surge in Metals, And Why The Supercycle Has Years to Run

The Trump administration says it wants to kick start private investment in Venezuela now that it's captured Maduro. And Ukraine is eventually going to need a massive rebuild. But what is it like for a big multinational to actually operate in these types of places? In this episode, we speak with Jeff Kazin and Mike Rohlfsen, the cofounders of agricultural consultancy AgrisAcademy and former long-time Cargill employees. Jeff previously ran Cargill's Venezuelan business and Mike was the company's first employee in another geopolitical hotspot: Ukraine. We talk about the challenges they faced in these two locations, including dollar shortages, corruption, and security threats, and their sometimes creative solutions to them.

Read more:
Venezuela Leader Pressed From All Sides Over Oil Industry Plans
Ukraine Says It Attacked Small Oil Refinery in Southern Russia
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

What It's Like to Do Big Ag Business in Venezuela and Ukraine

One of the mega-themes of the economy is that the big keep getting bigger. You see it in technology, where the megacap software companies are outperforming their smaller peers. And you see it in finance, where the world's biggest banks keep growing their share within the industry. Across multiple fields, there are clear advantages to size and scale that keep accruing. But what does it take to get to the very top, and what are the real advantages to size and scale? PNC Financial is one of the biggest banks in the country, though not quite as big as names like JPMorgan or Bank of America. So what does it take to grow in such a mature industry? And what kind of advantages accrue to the large players? On this episode, we talk to CEO Bill Demchak in a wide ranging conversation about the state of the industry. He explains why they're still building physical bank branches, why it's not a good time to make acquisitions, and how one bank stands out from another. We also talk about the changing regulatory environment, and what the firm is seeing right now in terms of useful applications of generative AI.

Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

What It Takes to Build One of the World's Biggest Banks

We talk all the time about private credit. And we increasingly talk about it from the perspective of the AI buildout, and how all of these datacenters are being financed. But why did the space get so big in the first place, and what does its history indicate for the future of the asset class? On this episode, we speak with Michael Zawadzki, the Global CIO for Blackstone Credit and Insurance. Michael’s been with the firm since 2006, and built its private credit from the ground up. He talks about what it took to succeed in the space, the advantages that accrue to large players, and why private credit has played such an important role in financing AI infrastructure.
 
Read more:
Private Credit Firms Push New Funds in Bid to Tap Retiree Money
BlackRock’s HPS Makes Its First Asia Investment After Merger
 
Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

Blackstone's Michael Zawadzki on How Private Credit Got so Big

Earlier this week, we saw something unusual happen in markets. The S&P 500 fell 2%, US Treasury yields rose, and the dollar simultaneously declined. This trifecta of market moves has rekindled talk of the "Sell America" trade as investors worry about the Trump administrations threats to take over Greenland. At the same time, Japanese bonds sold off after Prime Minister Sanae Takaichi called a snap election. So, how concerned should investors be about these latest developments? Is the "Sell America" trade really back? Or are we seeing a global rise in long bond yields? In this episode, we talk with Pimco CEO Emmanuel Roman about how he’s reading the moves. We also discuss Pimco's investment in data center debt, how the company is using AI internally, and why he doesn't 'get' gold.
 
Read more:
Why Investors Are Worried About Japan’s Bond Market
How Gold’s Safe-Haven Appeal Is Fueling Record Prices
 
Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

Pimco CEO Manny Roman on Japanese Bonds and the Sell America Trade

In the AI industry, there's always a hot new thing. First it was ChatGPT. Then it was the image generators. There was the DeepSeek moment. In the latter half of last year, everyone was excited about how good Google's Gemini was. In January 2026, the new hot thing everyone is talking about is Claude Code. But of course, the AI models have been able to generate lines of code for a long time now. So what is it about Claude Code that has people so excited? Why is it that people are asking: "Is this AGI?" On this episode, we speak with Noah Brier, the co-founder of Alpehic, a consultancy firm that helps large organizations implement AI technology. Noah has been using the Large Language Models for longer than just about anyone, since even before ChatGPT existed. He explains to us the evolution of AI-assisted coding, what Claude Code actually is, and why it is that traditional software firms have been getting destroyed in the stock market lately.
 
Read more:
Meta Begins Job Cuts as It Shifts From Metaverse to AI Devices
AI Coding Startup Replit Nears Funding at $9 Billion Valuation
 
Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
 
Subscribe to the Odd Lots Newsletter
Join the conversation: discord.gg/oddlots

See omnystudio.com/listener for privacy information.

Why the Tech World Is Going Crazy for Claude Code

Over the last several months, inflation has risen at a pace significantly faster than what economists have expected. Markets, and perhaps the Fed, take some solace in the fact that it can largely be tied to economic disruptions from the pandemic, and prove to be "transitory". But is it really transitory? And when will it fade? On this episode of Odd Lots, we speak with Julia Coronado and Laura Rosner-Warburton, the co-founders of the firm Macropolicy Perspectives, to get a better handle on what's going on, how long it will last, and the ramifications for the future.

See omnystudio.com/listener for privacy information.

How To Understand the Inflation We’re Seeing Right Now

Lyt når som helst, hvor som helst

Other podcasts you might like ...