REACTING REJOIN. I'M MICHAEL
DARDEN WHO IS THE CHIEF
ECONOMIST AND CHIEF MARKET
STRATEGIST AT MKM PARTNERS
MICHAEL GREAT TO HAVE YOU HERE
WITH
US TODAY, HOW DISAPPOINTED
SHOULD WALL STREET BE BY THIS
REPORT.
>> WELL SHOULD WE DO THAT CAN
YOU REPORT.
>> LOW EXPECTATIONS
TO CONTEND. THE ESTIMATE WAS
ABOUT A MILLION OR PAY BILLS SO
TO 66 REALLY NOWHERE CLOSE
TO THAT IT'S IT'S SORT OF A
CONFUSING REPORT TO BE ON IT
BECAUSE
WE'VE SEEN A LOT OF A
CONSISTENT WITH THE BOOMING
ECONOMY AND STRENGTH IN THE
LABOR MARKET AND SO
WE HELP CLIENTS, YOU KNOW DON'T
MAKE A FORECAST OF ONE
DATA POINT YOU KNOW LOOK FOR
TRYING TO DEVELOP
SO IT WE GET YOU IN JUNE IN
THOSE MONTHS ALSO
COMING WEEK. A MUCH BIGGER
POTENTIAL PROBLEM, BUT I DON'T
THINK THAT'S GOING TO HAPPEN.
I THINK WE'RE GOING TO GET
BETTER NUMBERS IN THE MONTHS
AHEAD IS REOPENING. IT IS
BY APPOINTMENT, NO DOUBT ABOUT
IN MARKETS ARE
ACTUALLY REACTING.
>> TO SIT HERE AND YOU CAN SEE
WESTERN IN OF ITSELF.
>> IS THAT BECAUSE THIS COULD
POTENTIALLY SIGNAL.
>> THAT NUMBER ONE THE FED WILL
NOT TAPER OR AT LEAST MOVE
UP ITS TIMELINE TO START SOME
SORT OF LESS ACCOMMODATIVE
POLICY OR COULD POTENTIALLY
ALSO BE BECAUSE THE
BIDEN ADMINISTRATION. THEY ARE
EXPECTED TO CONTINUE TOUTING
THE INFRASTRUCTURE PLAN AND
ATTEMPTING TO MOVE THAT FORWARD
AS WELL. DOES THIS INCREASE THE
LIKELIHOOD OF THAT
HAPPENING OR OF THE FED
CONTINUING TO IT'S A COMEDY
STRATEGY TO BECOME EVEN MUCH
MORE OF A LONGER TERM SOLUTION.
>> REALLY UNDERSTAND THE
PSYCHE. A ECONOMY POTENTIAL
OVERHEAT PRESSURES. PUSHING
INFLATION AND PARTICULARLY
MARKET INTEREST RATES HIGHER AT
THE BIG PROBLEM.
POTENTIALLY OR HIGH VALUATION
FUTURES ACTUALLY UP.
PRETTY STRONGLY THIS MORNING
AND I THINK THAT WE DON'T LOOK
MUCH FURTHER THAN THE FACT THAT
THE 10 YEAR BOND YIELD POPE AT
HIM TO STOP
A A AND SO
SOMETIMES BAD NEWS IS GOOD NEWS
THAT A LITTLE CONTRADICTORY BUT
YOU KNOW WE'VE HAD
SOME UNDERPERFORMANCE IN CHECK
IN THE NASDAQ IN PARTICULAR IN
THE SUPER HIGH VALUATION WROTE
STOCKS. AND THAT'S
YOU KNOW DUE TO THE VALUATION
CONCERNS AND SO WITH SOCCER.
YOU KNOW THE REACH
STRUCTURE POLLS BACK AT IT AT
SUPPORT OF THE VALUATIONS I
THINK THAT'S PROBABLY GOING TO
BE TEMPORARY, BUT I THINK THAT
EXPLAINS WHAT'S HAPPENING THIS
MORNING IN MARCH.
>> MANY OF US REACTING TO THIS
REPORT, THE SAME WAYS OR DOG.
WE ALL FEEL
THAT SAME. BUT ADDITIONALLY
GOING FORWARD FROM HERE YOU
KNOW WHEN I THINK ABOUT THE
NUMBER OF SECTORS THAT WE'VE
CONTINUE TO WATCH THE HITS THAT
WE WERE JUST SHOWING SOME OF
OUR VIEWERS IN SECTORS
LIKE RETAIL MANUFACTURING THESE
WERE UNEXPECTED HOWEVER ON THE
MANUFACTURING SIDE IT DOES SHOW
THAT EVEN ON THE GLOBAL CHIP
SHORTAGE THAT IMPACTS THEY ARE
CONTINUING TO YOU THE SHOW
THEMSELVES UP IN REPORTS LIKE
THIS.
>> NO DOUBT ABOUT IT WE DO HAVE
THEM.
IN CLAYTON RIGHT EYE ON THE
TO KIDS. THEY MENTORED ME
ACTUALLY AN ISSUE WITH YOU KNOW
A LOT OF WELL.
>> IT EVEN GOES BEYOND THAT SO
THERE ARE SOME THINGS THAT
ARE HAPPENING.
>> IT WITH EACH BOTTLE NECKS
AND YOU KNOW THAT VERY
LIKELY THAT INTO THIS WEEK MET
WITH THE NUMBERS THIS MORNING
FOR APRIL.
>> EACH STATE HAS A DIFFERENT
TYPE OF REOPENING STRATEGY OF
COURSE THIS HAS BEEN LED BY
ACCELERATING VACCINATIONS WHICH
WE'VE SEEN SUPPLY RECENTLY OF
WAY SOME DEMAND AND SO WITH THE
SHIFTING RESOURCES IN
THE STATES. ALSO CHARTING FORTH
THEIR OWN REOPENING PATHWAYS.
HOW DO YOU THINK THAT'S ALSO
GOING TO PLAY OUT IN NOT JUST
THE GUNMAN. BUT MONTHS TO COME
AS WE MOVE INTO SOME OF THE
SUMMER MONTHS AND PLACES LIKE
FLOOR. THEY'RE GOING TO BE
LOOKING FOR. I POPULATION HIGH
TRAVEL RATES GOING INTO THAT
STATE AS WELL.
>> YEAH A GOOD POINT YOU KNOW
I'M BROADCASTING
TO YOU FROM NAPLES FLORIDA AND
I CAN TELL YOU THERE'S ACTUALLY
A LOT OF COMPLAINTS FROM SMALL
BUSINESSES DOWN HERE IN TERMS
OF NOT BEING ABLE TO FINALLY
BURNS TO SPEND YOU
KNOW LARGEST OPEN FOR 4 MONTHS
SO I THINK YOU KNOW IT'S A
MICROCOSM OF WHERE
THE REST THE NATION'S GOING AT
THE VACCINATION INCREASE IN IN
REOPENING.
YOU KNOW CONTINUES TO MOVE UP
HATE IT PEOPLE
JUST IT HE'S DOING MORE REALLY
GAUGING IN O SPORT
OR ACTIVITY IMAGE THAT BUT YOU
KNOW WE'LL HAVE SOME OF THE
EXTENDED JOBLESS BENEFITS
RUN OFF. IT'S ALL SO I THINK
THE COMBINATION OF MAYBE SOME
WORKER HAD A PATIENT TO GET
BACK OUT THERE AND ENGAGE AND
THEN EXTENDED UNEMPLOYMENT
BENEFITS THOSE THOSE MAYBE
CREEK ALSO ADDING TO PITCH ON
YOU KNOW THESE ISSUES ARE
LARGELY GOING TO RESOLVE ITSELF