James McDonald

speaker

95 appearances 1 recordings 1 series first heard Sep 2020 last heard Sep 2020

James McDonald’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Market Preview: What to Expect in the Fourth Quarter · 29 Sep 2020 podcast

We have data that's going to come out over the next three months.

Are we going to see any improvement in employment?

Are we going to see improvement in consumer spending?

Are we going to see stability in any metric?

If we get more money in paychecks, if we get more relief for businesses, let's see if that has an effect.

And if it has an effect, then perhaps we'll get some different guidance from the Fed.

What I would be looking for, I've never heard or read in any minutes a statement that for the next three years, we're not doing anything with interest rates.

I was incredible to read as a student of the Fed.

I think if they walk back that comment, if we see some progress or if we see a vaccine come out, if they walk back that progress, I think that could really trigger some volatility in the market and more specifically than volatility, some selling in the market.

But we've just got to see what happens.

We need a deal in Congress.

We need to see improving data.

And then we need to get some grasp of how we're going to cope with this social distancing, how we're going to cope with work from home.

How are we going to cope with kids not at school?

And as far as equity prices are concerned, though, we're very overvalued and we're positioning ourselves for a big sell off.

With the lens of an investment manager, I'm very interested in sovereign debt.

Russia, South Africa, Brazil, these are big, hugely important economies.

Everybody talks about China, but China's going to be okay.

China can do whatever it wants economically.

Some of these weaker economic but big, important industrial nations like South Africa, Brazil, and Russia, their credit is shot to hell.

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