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Believe -- By solemn for first quarter earnings growth expected to increase by just one point 6%.
Could that be that had my goodness.
My next guest says we could see something of a surprise to the upside joining us now with his outlook for the markets -- -- chief investment strategist.
We're UBS wealth management my -- you could see it through -- -- this this is a nice little rally today.
-- picked up.
-- -- -- Wasn't it wasn't typical Monday is either deceived this upside -- move.
Your thoughts about -- were looking up I know there was some tremors because I'll quote.
Is reporting today.
I think actually today's today's rally -- and very little to do with with the earnings season I think what really had to do was a -- -- follow through from Friday.
And importantly the weekend is we have Japan I think two pieces of information kind of fits together one -- -- -- employment report was a week it doesn't suggest the economy rolling over.
We also heard -- Japan that was at central bankers -- it continue to provide the support that financial markets need and that fit and that the the business manager looking for.
That's shocking hearing said that because I hear so many so many folks -- in.
Here and say you know.
I hate Ben Bernanke and we've got to -- -- We -- the punch bowl weigh and how are you gonna exit Hugh.
And now we see the markets cheering that.
You know a lousy one point four.
Or trillion dollar stimulus by the Bank of Japan.
I mean could we see more or -- -- now it just seems like in sincerity on the part of some some of those so law.
Well I I think what you look at when you've seen the market reaction is they have to deal with the reality is that a central banks and the Central Bank Sybase was said.
We're gonna do three things first though we're gonna take the -- -- away from his extraordinary events.
Secondly we're gonna target better economic outcomes.
And we're -- facilitate a better environment -- for the financial markets I think against that backdrop particularly after it's hard to get that against central banks and it is you know is -- saw you don't fight the Fed.
We -- but the Fed the ECB the bank of being on the Bank of Japan the bank of China.
And the European Central Bank -- started -- -- -- In this thing a bit some of the some of the countries over there and sister -- little.
A little more reserved world war prudence than we would like -- not being quite as easy money oriented is this sort government would like.
-- what do you think will be the result we're gonna see European on board for you.
You -- battle to the -- I think -- dynamics -- a bit different -- -- they they have to be careful -- talking about an area with very disparate economic growth prospects -- and very different political issues -- have to deal -- -- you talk about Germany France Italy -- So I don't think -- -- take that this sort of single minded approach that we got from the Fed but it doesn't mean not to provide additional support IDC.
Continued -- by the European central banks that sure the financial system.
And provide enough liquidity make sure that we don't see these eurozone -- begin to permeate and become a structural issue.
Earnings your outlook.
Good not great I think we're getting -- up 3% earnings growth in the quarter.
Which by the way -- -- sign up there about her current expectations are flat so I think 3% suggests we're still on track it about 6% earnings growth political over the four year.
Outlook for the markets.
I think we can still grind higher I think it's still going to be two steps forward one step back markets don't move in straight lines.
But -- do you think when I see the backdrop of moderately improving economic growth still supportive -- policy.
And decent earnings outlook I think that suggest markets to go -- the vigor being a positive reaction -- the president's budget.
I couldn't help but I didn't I could resist -- I I appreciate you did hear that you -- Bart Bryant UV that's always good to talk with him now.
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