Lisa Abramowicz
👤 SpeakerAppearances Over Time
Podcast Appearances
How are you going to manage that, considering that a lot of people have complaints about that?
Ed Bastian, thank you so much for being with us today.
Really appreciate speaking with you.
But to Lisa's point, is there a line in the sand on the unemployment rate tomorrow that would maybe have you think about this a little bit differently?
What if the unemployment rate drops down 4.5 percent or even 4.4 percent?
In just the past few weeks, we've heard from a number of your colleagues talking about how actually they feel like we're pretty close to neutral.
Have you made any inroads convincing them that they're not right about this, the way you see the world?
When you talk about liking, Howard, maybe liking these assets a little bit too much, can you put into perspective the last time you saw this type of environment that left you thinking maybe some of the opportunities aren't as great when it comes to buying some of these assets at current valuations?
Is there another time that this sort of reminds you of in any capacity?
And Howard, I think a lot of people point to, in terms of the echoes of the late 90s, the tech sector of the market as being the most overvalued.
What I thought was so interesting about your memo is that that wasn't your take, that that wasn't your bigger concern in the market at a time when people are counting on a certain robustness of growth and a certain kind of inflationary backdrop.
Why is it that tech isn't the focus of your concern this time around?
Is it still defensive, Howard, if you're looking at credit spreads that are the tightest since 1998?
I'm looking at investment grade credit spreads, which are thought to be a more defensive part of the credit market.
I mean, is that sort of question what it means for it to be defensive when the valuations are high there as well?
Is there a place where you see has more opportunities right now just based on valuations and based on maybe affirming up of contract law and other aspects that really lead to a robust investment backdrop?