Bloomberg Markets: The Close Full Show with David R. Kotok

March 25th, 2020

Scarlet Fu and Romaine Bostick bring you the latest news and analysis leading up to the final minutes and seconds before the closing bell on Wall Street and tackle the market volatility from coronavirus fears, the impact of different industries and the stimulus. Guests Today: David Kotok of Cumberland Advisors, Boris Jordan of Curaleaf, Carol Schleif of Abbot Downing Investment Advisors, Mark Calabria of the Federal Housing Finance Agency, Bob Doll of Nuveen (Source: Bloomberg)

David joins the broadcast at the 4min mark. He talks about credit spreads, dislocations, has the Fed addressed dislocation? "The Fed is trying to address every sector it can reach. It has come off the peak pressure, but there's still more work to be done. The municipal sector is improving but it hasn't fully improved. And we see the commercial paper sector improving. But it has to reach a point in which there is broad confidence in the banking system. I'm still seeing clients moving funds around because they're afraid of bank failure. And I'm seeing clients making changes because they are very worried about credit sensitivity. They are replaying 2008 types of metaphors. This is a different kind of a problem. But in their minds that's the most recent history and they are focused on attempting to protect themselves," David R. Kotok.

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