Single Best Idea with Tom Keene: Anna Wong & Marc Champion

When the rest of the markets slow down, the futures market keeps moving. Did you know that CME Group S&P 500 and NASDAQ 100 futures trade nearly 24 hours with great liquidity? In the ETF markets, volume and liquidity lessens after 4 p.m. until the next morning. But with futures, you get trading opportunities both day and night. Learn more at cmegroup.com slash equity futures. Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made. And I'm Caroline Hepker in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday, keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break. So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens. It's smart, calm and to the point. And it fits into your morning. You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris. on Apple, Spotify, YouTube, or wherever you get your podcasts. Bloomberg Audio Studios. Podcasts. Radio. News. A single best idea after traveling in Washington and Toronto and back in the saddle today with all the confusion that going on we demanded clarity with a wide set of conversations I want to mention Paul Sankey came in, who was absolutely brilliant on hydrocarbons. I can't emphasize his concern of the next 60 days globally in oil and all the derivatives of oil that come down the food chain. We spent time on ethane into ethylene. I don't understand it, but guess what? He understands it and says it's a tenuous time. Anna Wong of Bloomberg Economics getting ready for the Fed meeting next week. yes, the worst testimony, but far more the narrowness of American prosperity. On the narrowness of the top 10 percent. So they own the top 10 percent own about 85 to 90 percent of all U.S. equities. And then when you look at the U.S. equities, so much of it is driven by the Magnificent Seven and right now the AI boom. So I think you're right, Tom, that The top 10, I think a lot of this wealth in the U.S. has been directed to the AI boom right now. Charlie Rosen with Invesco running their commercial real estate credit division said 60% of the growth in real estate credit, New York and San Francisco, 6-0, 60%. And they're Anna Wong of Bloomberg Economics on the narrowness of this American economic experiment. Mark Champion definitive at the Wall Street Journal for decades now with Bloomberg Opinion His work is just exquisite on the war and on Europe Mark Champion on the five flavors of Iranian leadership Well, it's really five. So there's three official players in the Leadership Council, and that's the president, which is Pizishkian. He's what you would call a regime moderate. And then you have Mohamed Khalibov, and he's a former, he's a former, sorry, that's my phone going off. He's a former mayor of Tehran, and also former IRGC head. But he's also considered a regime pragmatist. And then you have, you know, the head of the judiciary who really doesn't focus on these kinds of things. He's important for, you know, domestic security, et cetera. But then you have two other figures who are not named. And they are the, you know, the two IRGC heads. And they really, they call the shots ultimately. And that became clear in the first round of talks when they called the negotiating team back for exceeding their mandate. Mark Champion with needed clarity there on what America faces, the president faces in the eastern Mediterranean and with Iran as well. On our podcast, we're at Apple, we're at Spotify, on YouTube podcasts, it's single best idea. The news doesn stop on the weekends Context changes constantly And now Bloomberg is the place to stay on top of it all Hi, I'm David Gurra. Join us every Saturday and Sunday for the new Bloomberg This Weekend. I'm Christina Ruffini. We'll bring you the latest headlines, in-depth analysis and big interviews. All the stories that hit home on your days off. And I'm Lisa Mateo. Watch and listen to Bloomberg This Weekend for thoughtful, enlightening conversations about business, lifestyle, people, and culture. On Saturday mornings, we put the past week's events into context, examining what happened in the markets and the world. Then on Sundays, we speak with journalists, columnists, and key political figures to prepare you for the week ahead. Join us as soon as you wake up and bring us with you wherever your weekend plans take you. Watch us on Bloomberg Television, listen on Bloomberg Radio, stream the show live on the Bloomberg Business app, or listen to the podcast. That's Bloomberg This Weekend, Saturdays and Sundays, starting at 7 a.m. Eastern. Make us part of your weekend routine on Bloomberg Television, radio, and wherever you get your podcasts. What separates good leaders from transformational ones? I'm Jessica Chen, and in Season 2 of Leading by Example, we'll sit down with executives like Grace Chen of Birdie Gray to find out. It's important to understand where you spike, but also really acknowledge where you don't and find people who can fill those gaps. Listen to Leading by Example, executives making an impact on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.