"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Mark Esper, former US Secretary of Defense in the first Trump Administration and current Red Cell Ventures Partner, shares his insight on reports that the US has carried strikes in Iran and if this could lead to a broader resumption of conflict. Representative Joe Morelle (D-NY) voices his frustrations with Tennessee adopting a new map that eliminates the state’s only Democratic congressional seat. ...

I've been saying this is not just about private credit. This is something that is a is uh endemic to to market cycles. This happened in the IPO of dotcoms back in the late 90s.They had no remember they had no revenue, no business plan and they were selling for large prices. >> And then of course in the uh leadup to the global financial crisis, >> you had the mortgage market. The non-g guaranteed mortgage market exploded in size to about where the private credit market is today.a little less actually for tho ...

>> THE COUNTDOWN IS ON. EVERYTHING YOU NEED TO GET THE EDGE AT THE END OF THE MARKET DAY. THIS IS "THE CLOSE." ROMAINE: TWO VIEWERS AND AUDIENCES WORLDWIDE, WELCOME TO A SPECIAL EDITION OF "THE CLOSE." KATIE: WE COME TO YOU FROM DOWNTOWN LOS ANGELES, AT THE HEADQUARTERS OF DEADLINE CAPITAL, THE 00 BILLION ASSET MANAGEMENT COMPANY FOUNDED BY JEFFREY BELMONT.ROMAINE: WE ARE ACTUALLY GOING TO DO SOMETHING WE RARELY GET A CHANCE TO DO. WE ARE GOING TO SIT DOWN WITH KEY MEMBERS OF THE SAME INVESTMENT TEAM ON THE ...

We welcome in our Bloomberg TV and radio audiences for special coverage of the close live from double line headquarters in Los Angeles. And let's get right to it. We're joined by the firm's CEO and CIO, Jeffrey Gunlock.Jeffrey, thank you so much for having us here. Yeah. It's good to be here.I glad you made a house call. Excuse me to do. Absolutely.I mean, we've got this nice rug, these nice chairs, so we couldn't be happier, but let's get right to the good stuff here. I wanna talk about this moment in priv ...

Welcome back to a special edition of The Close live from Double Line's headquarters in Los Angeles. We're gonna talk mortgages. We're gonna talk the housing market with the average rate for a thirty year fixed mortgage creeping back up, now around 6.37% in the most recent week.Now it's an elevation in borrowing costs that's been going on for a while, and it has The US housing market in a bit of a standoff. But is it possible potentially that that paralysis is also creating one of the stronger credit backdro ...

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We talk about this idea of what could be a major structural shift in the way that we view developed economies, emerging economies, and, of course, how you invest around that is this E. M. story that a lot of people have talking about.Is that a short term cyclical story or a longer term structural trend. Oh, I think we're in the midst of a sea change in global markets. Uh, for the past 2 to 3 decades, uh, we have seen the safe haven status of developed markets as, uh, a tenant across, uh, fixed income market ...

Is the cutting cycle over now. I don't think I think it's really too early to tell if we if the conflict ends and oil prices come back down and that doesn't get passed into the broader economy, then I expect the underlying dynamics that we were facing prior to the the conflict to return, which is policy is slightly restrictive, continues to put downward pressure on inflation, the labor market is stable right now, but it's not creating any inflationary pressures and businesses are cautiously optimistic. So, ...

It signals clearly that the Trump administration wants to get this underway, but I I think that there are still potentially obstacles, a lot of risk out there. So, you know, I'd be uh calling up the insurance companies to find out whether they feel comfortable with with the current arrangement. So, I I feel like there's probably many questions that are still unanswered.>> Well, certainly. So and of course the proposal that we uh have seen reporting the US has made to Iran around peace remains unanswered. We ...

We got oil trading off here a little bit today, maybe a little bit of optimism about, uh, getting some type of resolution here. Let's just say, for the sake of argument, Mike, uh, we, we get the tweet that it's all over and our ships are coming home. What is it.How does oil trade in the days after that collapse. It's a pretty good indication for that part. I think it's reached a pretty good peak around 120.It's probably stuck between 80 and 100 for a while, but natural gas has already done it. It's the same ...