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We will talk the markets, fx, and the dollar, but overwhelming all today is the news on the virus. Our team in brazil out with a terrific article on the pandemic in brazil. Jon, i know it is not equivalent , but it is the same energy about the sunbelt in america. At a pandemic, but it is worsening condition of the virus in the sunbelt. Jonathan youre right to say it is not equivalent because it is not, but it certainly is concerning regardless. For many Market Participants, theyve had confidence there is a higher bar to shutting down these economies once again. That teller into policy makers is beginning to be tested over the next several days. Will it constrain the reopening process . Will it hit his mrs. And consumers hit businesses and consumers . That concern is top of the mind. Tom i know we are within a range, but im sorry, i observed gold really out but your stop out,st and really up against an 1800 price target. Lisa ....
Its possible we have gotten too disconnected from the fundamentals. The dow and others are on their way to the best quarter since 1998, and for the nasdaq, it will be the best quarter in decades. That is happening at the same time the corporate corporate profit outlook continues to deteriorate, now trading at 22 times forward earnings estimates it will be interesting to see how we rerate in the next couple of weeks when we start to get major results. Thank you for that markets a deep dive. Players are missing out on wimbledon this year, the usda usta is getting ready for flushing meadows, except without the 850,000 spectators who attend the event. And novakemain djokovic announced he has tested positive for covid19. Is the u. S. Tennis association ceo. You have been coping extremely well with the coronavirus. You have set aside 50 million to help in grassroots efforts. Give us a little bit of detail about that. First, thank you for having me on. We realized quickly our sport was in tro ....
Me if my tie was fixed. But, ok. Just leave it this way. All right. David i dont consider myself a journalist, and nobody else would consider myself a journalist. I began to take on the life of being an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . We are here today with his excellency, yasir alrumayyan, who is both the chairman of saudi aramco and the head of the pif, the saudi sovereign wealth fund. You have both jobs. How do you allocate your time between running the sovereign wealth fund, pif, and being the chair of saudi aramco . Doesnt that take you 80 or 100 hours a week . Yasir pif role is executive, the aramco is chairmanship. I dont have the executive chairmanship. In aramco, i focus on four things, the strategy, the targets, annual targets we have, the monitoring of the performance, and managing the actual board. In pif, i am the governor, although i am a board member and the p ....
Software happens to fall neatly in that category. Do equities need to rerate because rates are so low . Are they giving us a signal that equities are at risk . They are able to issue whatever they want in the Corporate Bond market. You can see that has caused a change in strategy already. It is like everything becomes a bond. Bonds are rallying, gold is rallying because of the nature of these things. Jonathan joining me around the table are james keenan, winifred cisar, and peter tchir. It feels like a buy everything situation. The 10year increase below 1 . U. S. Corporate borrowing costs at an alltime low. Is that what this is right now, just buy everything, get when you can . Winifred everything but highyield energy. It seems investors have a lot of cash, we see record inflows into Investment Grade but the bias is very much to be up in quality. We dont want to buy cccs ha ....