What Goes Up

By Bloomberg

What's What Goes Up about?

Hosts Mike Regan and Vildana Hajric are joined each week by expert guests to discuss the main themes influencing global markets. They explore everything from stocks to bonds to currencies and commodities, and how each asset class affects trading in the others. Whether you’re a financial professional or just a curious retirement saver, What Goes Up keeps you apprised of the latest buzz on Wall Street and what the wildest movements in markets will mean for your investments.

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LAST EPISODE

Is the Fed Done Raising Rat...

09.22.2023

When it comes to the US Federal Reserve’s campaign to crush inflation by raising interest rates, Morgan Stanley Chief US Economist Ellen Zentner says this: “I have a strong view that they’re done here—but they have left the door open.” ...

What Goes Up episodes:

09.22.2023 Is the Fed Done Raising Rates? Ellen Zentner Thinks So When it comes to the US Federal Reserve’s campaign to crush inflation by raising interest rates, Morgan Stanley Chief US Economist Ellen Zentner says this: “I have a strong view that they’re done here—but they have left the door open.” ...
09.15.2023 Human Trafficking in the Crypto Rabbit Hole A few years ago, an editor asked Bloomberg investigative reporter Zeke Faux to take a look at the cryptocurrency Tether, a so-called stablecoin meant to precisely track the US dollar by backing it with real-world reserves. What followed was a ...
09.08.2023 A Dip Worth Buying? From artificial intelligence to electric vehicles and travel stocks, some of the previously hot equity-market themes have borne the brunt of the selling during the market’s dip in August and September. Sylvia Jablonski, chief executive of Defiance ETFs LLC, joined ...
09.01.2023 How to Avoid Getting Burned by the AI Hype There’s a lot of excitement around AI-focused stocks right now, but market veteran Art Hogan urges caution when it comes to companies that are just trying to take advantage of the hype without having true ties to the industry. The ...
08.25.2023 Matt Levine on Why 'Everything Is Securities Fraud' Matt Levine, a columnist for Bloomberg Opinion who writes the Bloomberg newsletter Money Stuff, joined the What Goes Up podcast to discuss some of the hot finance topics he’s been covering and what he means when he says “everything is ...
08.18.2023 BlackRock Shakes Up the Bitcoin ETF Race Crypto fanatics have been pining for a Bitcoin exchange-traded fund for a decade now. But as the applications piled up, US regulators repeatedly declined to approve one, citing the risk of fraud and market manipulation in cryptocurrency markets. But with ...
08.11.2023 The `Odd Lots' Crossover Episode From the renewed and growing power of American organized labor to the case for minting a $1 trillion coin to end debt-ceiling brinkmanship once and for all, Bloomberg’s Odd Lots podcast has tried to tackle some of the most important ...
08.03.2023 What You Need to Know About Gold The price of gold tends to do well in times of elevated uncertainty about economies and financial systems—something the world has seen a lot of in the past few years. Yet each time the precious metal rallies above $2,000 an ...
07.28.2023 Vanguard's Hard Pass on a `Soft Landing' A rallying stock market and better-than-expected second-quarter economic growth are just the latest developments pointing Wall Street skeptics to the possibility of a US “soft landing.” That’s where the Federal Reserve gets inflation back down to around 2% without triggering ...
07.21.2023 When Will Commercial Real Estate Market Hit Bottom? A slow-motion crisis is unfolding in the global commercial real-estate market, thanks to the double-whammy of higher interest rates and lower demand for office space following the Covid-19 pandemic. John Fish, who is head of the construction firm Suffolk, chair ...
07.14.2023 There's No Magic to Fed's 2% Inflation Target US Federal Reserve officials have been adamant that they’re looking to get inflation levels back down to 2%. But the path to that goal could bring pain to millions of workers, a possible trade-off that “doesn’t make sense,” according to ...
07.07.2023 The World's Food Supply Needs to Change Global shifts in incomes and populations, geopolitics and the climate crisis are combining to drastically alter the outlook for the world’s food supply. Taimur Hyat, chief operating officer for asset manager PGIM, joined the What Goes Up podcast to discuss ...
06.30.2023 What If There Was a Recession and No One Noticed? The disconnect between a roaring stock market and stubborn recession predictions has left many investors scratching their heads. The equity strategists at Bloomberg Intelligence however have an intriguing explanation: Maybe the part of the economic downdraft most likely to impact ...
06.23.2023 How Covid Rewired Markets and the Economy While in some places life has mostly gotten back to normal following the Covid-19 pandemic, there are aspects of economies and markets that may have been altered permanently. Jared Gross, the head of institutional portfolio strategy at J.P. Morgan Asset ...
06.16.2023 AI's 'Big Bang' Moment Enthusiasm for artificial intelligence has powered a breakneck rally in US equities this year, far overshadowing the US Federal Reserve’s campaign to raise interest rates. So how should investors sort out the fundamentals from the hype? Mark Baribeau, the head ...
06.09.2023 Seema Shah Makes the Case for a Short-Lived Recession According to Seema Shah, the chief global strategist for Principal Asset Management, the US economy will enter a recession, likely at the end of this year. Though she says it could be mild and short-lived. Shah joined the What Goes ...
06.02.2023 Using AI to Explain Stock Moves Artificial intelligence is all the rage on Wall Street. Some strategists see AI trends driving further gains for stocks as others point to how big banks are beginning to use it to automate some jobs. MarketReader, founded by Jens Nordvig, ...
05.26.2023 Betting (on) the Farm Investing in farmland has historically offered an attractive and stable source of returns, yet it’s not an easy asset class for most investors to access. Carter Malloy founded a platform called AcreTrader in an effort to make it easier to ...
05.19.2023 With Fed Pause Likely, Here Are Ideas for Your Cash A lot of investors are sitting on piles of cash. In fact, J.P. Morgan Wealth Management estimates its clients are more overweight with cash now than they’ve been in a decade. But attractive buying opportunities could be lurking, including in ...
05.12.2023 The Debt Ceiling Crisis Is an Opportunity As the US government debt-ceiling standoff heats up and markets grow more volatile, veteran Loomis Sayles & Co. portfolio manager Elaine Stokes has some advice for investors in the corporate-bond market: Get ready to buy. Stokes joined the What Goes ...
05.05.2023 The Fed Won't Ride to the Rescue Brace for a US recession to start next quarter and worsen at the end of the year, and don’t bet on the Federal Reserve to react immediately to prop up growth. That’s according to Sarah House, senior economist at Wells ...
04.28.2023 The Fed's Not Done Breaking Things While the drama surrounding regional US banks has largely subsided following the failure of three lenders in March, that doesn’t mean the ripple effects of Federal Reserve interest-rate hikes are over. This is according to Que Nguyen, chief investment officer ...
04.21.2023 Morgan Stanley Braces for a Soft Landing Runaway inflation. Surging interest rates. Bank failures. For a while it seemed like all of these issues would combine to trigger a US recession. Not so fast, says Morgan Stanley’s Seth Carpenter, the bank’s global chief economist. He joined the ...
04.14.2023 The Case for a 22% Drop in S&P 500 Troy Gayeski, chief market strategist at FS Investments, says don’t wait until May to flee the stock market rally—get out now. He joined the What Goes Up podcast to explain why he’s expecting the S&P; 500 to bottom out at ...
04.07.2023 Man Group's Stock Skepticism It’s not just the prospect of deteriorating fundamentals that has Man Group’s Mark Jones skeptical about stocks these days. It’s also the risk of money flowing into fixed-income investments now that they’re sporting attractive yields. Jones, who is the deputy ...
03.31.2023 A Quant Takes on Microcaps If there’s one thing that keeps professional investors up at night, it’s being involved in a “crowded trade.” In other words, a position that’s become so popular that there are few investors left to get involved with it, so there’s ...
03.24.2023 Flashbacks to 2008 When Steve Sosnick recalls 2008 and tries to make parallels to the current turmoil in the banking sector, one memory sticks out: riding the elevator with Thomas Peterffy, founder of Interactive Brokers, who offhandedly asked him “what’s new?” “And I ...
03.17.2023 The Huge Significance of Small Banks Torsten Slok had been firmly in the “no landing” camp of economists. More positive than a “soft landing,” its adherents say the Federal Reserve will tame inflation without triggering a recession at all. But for Slok, chief economist of Apollo ...
03.10.2023 Jeremy Grantham's Market Meat-Grinder Jeremy Grantham blames the US Federal Reserve for creating a bubble in asset prices—one he says has a long way to go before it’s fully deflated. As a result, stock prices may not reach bottom until late next year, he ...
03.03.2023 A Soft Landing Is Getting Harder Princeton University’s Alan Blinder is one of the most prominent economists to have expressed optimism that the Federal Reserve can engineer a so-called “soft landing” for the US economy—taming inflation without triggering a recession. But Blinder, who served in the ...
02.24.2023 BlackRock on 'Fixing' the 40 in 60/40 Exchange-traded fund managers have seen massive inflows into fixed-income ETFs in recent months. As the dust settles from the bond market’s worst year on record, ETFs focused on safe and simple Treasuries have attracted the bulk of the money. Stephen ...
02.17.2023 Don’t Feel Bullied by the Stock Rally The stock market may be off to a great start in 2023, but investors should be “mindful about not being bullied” by the rally, says Wealth Enhancement Group’s Nicole Webb. She warns that it won’t last. The S&P; 500 is ...
02.10.2023 How Wall Street Is Using AI to Build ETFs ChatGPT has taken the internet by storm, spurring all manner of experiments and examination as to what extent the artificial-intelligence model can supplant humans and daily tasks. But it’s also being used on Wall Street, where a number of exchange-traded ...
02.03.2023 (Mis)interpreting the Fed Morgan Stanley’s Jim Caron joined the What Goes Up podcast to dissect this week’s US Federal Reserve meeting and analyze how markets may have misinterpreted the message being sent by Chair Jerome Powell. “This is a guy who’s worried about ...
01.27.2023 AlphaSimplex on Embracing the 'Uncomfortable' The rare bright spots for investing last year were those strategies that follow trends in markets rather than fundamentals. This successful approach included the AlphaSimplex Managed Futures Strategy Fund, which returned more than 32% for the year. Kathryn Kaminski, chief ...
01.20.2023 Fading the New Year's Bounce The stock market got off to a roaring start this year with the S&P; 500 at one point clocking a year-to-date gain of more than 4%. Truist Wealth Co-Chief Investment Officer Keith Lerner, however, is skeptical of the New Year ...
01.13.2023 Savita Subramanian's Earnings-Season Reality Check Get ready for some bad earnings-season news. That’s the call from Savita Subramanian, the head of equity and quantitative strategy at Bank of America, who is expecting a 10% drop in earnings that will likely keep a lid on the ...
01.06.2023 Fidelity Sees a Return to Bear-Market Lows The US Federal Reserve’s commitment to higher interest rates and the potential for a recession in 2023 will combine to damage corporate earnings—damage that likely will cause the stock market to revisit its bear-market lows, warns Jurrien Timmer, director of ...
12.30.2022 SBF's Love of Risk Before his FTX cryptocurrency empire collapsed, many of Sam Bankman-Fried’s public statements indicated that he made decisions “as though he had no risk aversion,” according to Victor Haghani, the founder and chief investment officer of Elm Partners Management and a ...
12.23.2022 JPMorgan's Obituary for Globalization The decades-long trend of globalization has come to an end and the fracturing of geopolitics will have huge implications for capital markets and investing in 2023, according to strategists at JPMorgan Chase & Co. Jared Gross, head of institutional portfolio ...
12.16.2022 The Calendar Won't Cure the Chaos Don’t expect volatile equity-market swings to go away when the calendar flips to 2023, says Edward Jones senior investment strategist Mona Mahajan, who advises focusing on defensive and value stocks in the new year. But there is hope for later ...
12.09.2022 TINA's Dead and Bonds Are Back Bonds are back—and they appear to be the preferred asset class as we head into the uncertain economic environment in 2023, according to Gargi Chaudhuri, head of investment strategy for the Americas at BlackRock’s iShares unit. She joined this week’s ...
12.02.2022 5% Inflation for a Decade? Expectations that inflation will normalize to near 2% in the near term will “end in tears,” according to Vincent Deluard, the director of global macro strategy at brokerage StoneX Financial. He contends growth in consumer prices will remain closer to ...
11.23.2022 FTX 'Horror Stories' in the Bahamas The implosion of Sam Bankman-Fried’s FTX empire dealt a harsh blow to the Bahamas’ ambitions to be a hub for the crypto industry, and it’s causing massive pain for locals who treated the now-bankrupt exchange like a bank. Stephane Ouellette, ...
11.18.2022 Life in Crypto After FTX The collapse of Sam Bankman-Fried’s FTX cryptocurrency empire was accelerated when the head of a rival exchange announced he was planning to dump holdings of something called FTT—a token created by FTX that afforded some perks to investors who owned ...
11.11.2022 FTX Shows Crypto Still the ‘Wild West’ FTX Cryptocurrency Exchange rattled the financial world this week when a crisis of investor confidence triggered a run, forcing the company to scramble for a buyer or bailout to avoid collapse. Joining the What Goes Up podcast to discuss the ...
11.04.2022 Institutions' Slow-Motion Crypto Embrace Cryptocurrency news this year has been filled with stories about how institutional investors are embracing digital assets. So if more big players are entering the space, why are prices for Bitcoin, Ether and other tokens so depressed compared with last ...
10.28.2022 The Worst Way to Fix Inflation There are better ways to combat inflation than destroying demand with interest-rate increases, according to Nela Richardson, chief economist for payroll giant Automatic Data Processing Inc. She joined the latest What Goes Up podcast to give her take on half-century ...
10.21.2022 The Fed Is Playing a ‘Dangerous Game’ The stock market has been getting very volatile as the US Federal Reserve continues its historic effort to squash rising prices. Proclamations from policymakers suggest the central bank won’t let up until inflation is under control—even if it means trouble ...
10.14.2022 Paul Volcker, Market Psychologist Another hot inflation reading this week underscores the importance of the US Federal Reserve’s campaign to tame decades-high increases in consumer prices, with many market observers evoking the memory of a similar effort by the central bank’s larger-than-life former chairman, ...

Older episodes

What Goes Up

What's What Goes Up about?

Download our free app to listen on your phone

What Goes Up episodes:

Is the Fed Done Raising Rates? Ellen Zentner Thinks So

Human Trafficking in the Crypto Rabbit Hole

A Dip Worth Buying?

How to Avoid Getting Burned by the AI Hype

Matt Levine on Why 'Everything Is Securities Fraud'

BlackRock Shakes Up the Bitcoin ETF Race

The `Odd Lots' Crossover Episode

What You Need to Know About Gold

Vanguard's Hard Pass on a `Soft Landing'

When Will Commercial Real Estate Market Hit Bottom?

There's No Magic to Fed's 2% Inflation Target

The World's Food Supply Needs to Change

What If There Was a Recession and No One Noticed?

How Covid Rewired Markets and the Economy

AI's 'Big Bang' Moment

Seema Shah Makes the Case for a Short-Lived Recession

Using AI to Explain Stock Moves

Betting (on) the Farm

With Fed Pause Likely, Here Are Ideas for Your Cash

The Debt Ceiling Crisis Is an Opportunity

The Fed Won't Ride to the Rescue

The Fed's Not Done Breaking Things

Morgan Stanley Braces for a Soft Landing

The Case for a 22% Drop in S&P 500

Man Group's Stock Skepticism

A Quant Takes on Microcaps

Flashbacks to 2008

The Huge Significance of Small Banks

Jeremy Grantham's Market Meat-Grinder

A Soft Landing Is Getting Harder

BlackRock on 'Fixing' the 40 in 60/40

Don’t Feel Bullied by the Stock Rally

How Wall Street Is Using AI to Build ETFs

(Mis)interpreting the Fed

AlphaSimplex on Embracing the 'Uncomfortable'

Fading the New Year's Bounce

Savita Subramanian's Earnings-Season Reality Check

Fidelity Sees a Return to Bear-Market Lows

SBF's Love of Risk

JPMorgan's Obituary for Globalization

The Calendar Won't Cure the Chaos

TINA's Dead and Bonds Are Back

5% Inflation for a Decade?

FTX 'Horror Stories' in the Bahamas

Life in Crypto After FTX

FTX Shows Crypto Still the ‘Wild West’

Institutions' Slow-Motion Crypto Embrace

The Worst Way to Fix Inflation

The Fed Is Playing a ‘Dangerous Game’

Paul Volcker, Market Psychologist