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We'll remain -- so.
Let's just get right back to our all star panel -- angels.
Is no way was this decision not to taper.
Did that how well the housing market has been doing way on Ben Bernanke and company because there was only one lone dissenter I don't -- belonged to Delphi -- -- some -- -- that was after Georgia Kansas City -- This if she's worried about asset bubbles are -- do you see asset bubbles in the housing market.
-- know I did not.
I did not fit now should -- is correct the market isn't working very aware of that Fed Funds market has been working.
And regulatory policy.
My goodness how big a mistake and then by eight and ended -- just doesn't seem to understand.
This regulatory authority on the break and and consequently the market does that that -- start.
The economy is doing pretty well and I think that showed -- And the stock market today mark K so where would you look forward and say better investments come in this area that area is -- currencies.
We get we actually like a lot of corporate bonds mean we've been buying corporate bonds anticipating the backup in rates was over done.
We've been buying autos and housing and energy and gaming -- -- between five and a half to 6% I think that the news this morning is very positive for housing we have a supply and demand imbalance.
We're not building enough houses some.
And it's basically a land short markets I think the -- -- will do quite well in this environment mark.
Just gave us the investment angle from the corporate -- standpoint -- what about from equities.
I think there's good news for the economy going forward to base with the feds says no real Rachel -- You know not a not a little lower.
And again I'll be good for housing I think it's going to help the industrial part of economy move ahead do you think I'm -- or narrative story I start to look at some PE ratios and they're not -- anymore there 11151622.
Yet not you know I think overall the S&P is is not terribly overvalued our target the end of the year is it has been in 16505017100.
For this year so now we're over that target range I think we could have some volatility from near the end of the year bit.
Next year we see more earnings growth the 5% and we see PE expansion especially the Fed is not going to be tapering.
And -- the 185019100.
As a place the S&P could be at the end of next year.
Duane -- -- you know I don't think it's overpriced here.
Proposal -- Wayne who are looking at the unemployment picture and we see.
Fewer people participating in the search.
Should that you just -- actually things are not looking that bad on -- putts on certain levels on certain metrics but are we overstating how how decent things are at the moment I just get worried that.
With all of this icing spread over cake in the form a bond purchases -- cake doesn't taste good at all.
Well there's -- -- correct and that the labor market doesn't shelves.
The economy that we would like to say economists -- chairman Bernanke -- accuracy.
But I think we have to keep in mind.
That the -- is not.
Having a spot on the throttle all right it's got its foot on the brake.
And consequently I think these markets should be saved from that perspective.
That is the regulatory break.
That fair break so it would be a far better we get things are moving it in a different direction and -- to both our state.
In -- money market have Fed Funds market.
As we look at new highs in equities today across a broad spectrum here everything from Dow Chemical -- -- play.
It is certainly a good day for the markets we can at least say that much -- -- Pimco managing director Stuart Freeman Wells Fargo advisors chief equity strategist and Wayne Angel as always we thank you.
The former Federal Reserve board governor --
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