RUSH TRANSCRIPT Joining me ░░░░░░░░ Ryan Payne Michael ant ░░░░░░░░ The Russian invasion why ░░░░░░░░ it having such an ░░░░░░░░ on this market compared ░░░░░░░░ other you know massive ░░░░░░░░ events that didn t ░░░░░░░░ us like this Yeah ░░░░░░░░ mean look we know ░░░░░░░░ that the market doesn ░░░░░░░░ like uncertainty right And ░░░░░░░░ get two paynes onset ░░░░░░░░ this too much payne ░░░░░░░░ America just for the ░░░░░░░░ Laughter But you know ░░░░░░░░ think what you re ░░░░░░░░ right now is you ░░░░░░░░ got the uncertainty plus ░░░░░░░░ top of that the ░░░░░░░░ is raising interest rates ░░░░░░░░ I think it s ░░░░░░░░ surprise who s getting ░░░░░░░░ the hardest here what ░░░░░░░░ class it s tech ░░░░░░░░ s growth everything that ░░░░░░░░ the anti higher interest ░░░░░░░░ trade And I think ░░░░░░░░ in eastern Europe is ░░░░░░░░ that Charles defense stocks ░░░░░░░░ cashing a bit Europe ░░░░░░░░ out a lot of ░░░░░░░░ about spending trillions of ░░░░░░░░ on defense Maybe this ░░░░░░░░ they ll do it ░░░░░░░░ they need the cash ░░░░░░░░ be able to defend ░░░░░░░░ I ll ask you ░░░░░░░░ those particular events but ░░░░░░░░ your overall thoughts on ░░░░░░░░ invasion and its impact ░░░░░░░░ the market so far ░░░░░░░░ So my friend Morgan ░░░░░░░░ says events sleep while ░░░░░░░░ crawl and that s ░░░░░░░░ really important statement There ░░░░░░░░ months where decades happen ░░░░░░░░ March of this year ░░░░░░░░ one of those Mar ░░░░░░░░ 2020 March of 2020 ░░░░░░░░ example You ve seen ░░░░░░░░ talk about going from ░░░░░░░░ million to 78 billion ░░░░░░░░ defense spending sweden going ░░░░░░░░ 6 7 up to ░░░░░░░░ in a couple years ░░░░░░░░ market thoughs this Is ░░░░░░░░ an investable thing The ░░░░░░░░ knows this You ll ░░░░░░░░ that You ll see ░░░░░░░░ moves but all of ░░░░░░░░ sudden you ve gone ░░░░░░░░ kind of this secular ░░░░░░░░ of NATO countries not ░░░░░░░░ as much to a ░░░░░░░░ tailwind So the market ░░░░░░░░ You don t have ░░░░░░░░ chase those names but ░░░░░░░░ do think you need ░░░░░░░░ on your radar because ░░░░░░░░ now there s a ░░░░░░░░ tailwind to the space ░░░░░░░░ in the meantime the ░░░░░░░░ s back in the ░░░░░░░░ Larry Kudlow and I ░░░░░░░░ had this conversation Will ░░░░░░░░ decision with anti climactic ░░░░░░░░ is there something they ░░░░░░░░ add in there Sometimes ░░░░░░░░ s all they need ░░░░░░░░ a narrative for investors ░░░░░░░░ s a dual mandate ░░░░░░░░ employment and fighting inflation ░░░░░░░░ employment one I think ░░░░░░░░ re considering done at ░░░░░░░░ point so they have ░░░░░░░░ fight inflation now Charles ░░░░░░░░ cannot tolling rate another ░░░░░░░░ CPI print This volatility ░░░░░░░░ to back them off ░░░░░░░░ 25 basis point at ░░░░░░░░ upcoming meeting six hikes ░░░░░░░░ between 1 p 1 ░░░░░░░░ and 2 I think ░░░░░░░░ they re going to ░░░░░░░░ the market s really ░░░░░░░░ at predicting that so ░░░░░░░░ bits is the next ░░░░░░░░ and then I don ░░░░░░░░ think they re going ░░░░░░░░ back off the pedal ░░░░░░░░ don t think the ░░░░░░░░ in Europe is going ░░░░░░░░ back them up They ░░░░░░░░ cannot tolerate inflation Charles ░░░░░░░░ Ryan longer term let ░░░░░░░░ say we get a ░░░░░░░░ of rate hikes the ░░░░░░░░ situation is resolved Do ░░░░░░░░ stay you re going ░░░░░░░░ stay with what you ░░░░░░░░ been working with the ░░░░░░░░ You were illing it ░░░░░░░░ value and also emerging ░░░░░░░░ which had some hiccups ░░░░░░░░ know Most of the ░░░░░░░░ I don t know ░░░░░░░░ course China s held ░░░░░░░░ back a lot and ░░░░░░░░ Chinese tech stocks got ░░░░░░░░ this week Yeah They ░░░░░░░░ A lot of it ░░░░░░░░ to do with the ░░░░░░░░ regulatory issues The American ░░░░░░░░ is going to see ░░░░░░░░ this Charles even with ░░░░░░░░ where it is now ░░░░░░░░ re seeing a very ░░░░░░░░ incentive consumer Look at ░░░░░░░░ sales You re at ░░░░░░░░ point where the pandemic ░░░░░░░░ become an a endemic ░░░░░░░░ are going to get ░░░░░░░░ regardless They ve got ░░░░░░░░ to spend Wages are ░░░░░░░░ higher a 5 million ░░░░░░░░ employment gap and there ░░░░░░░░ 11 million jobs out ░░░░░░░░ Charles would you buy ░░░░░░░░ Would you buy these ░░░░░░░░ stocks Some of these ░░░░░░░░ are really starting to ░░░░░░░░ off I do because ░░░░░░░░ ve gotten hit recently ░░░░░░░░ re starting to spike ░░░░░░░░ little bit but yes ░░░░░░░░ are going from buying ░░░░░░░░ to going out and ░░░░░░░░ leisure and hospitality I ░░░░░░░░ here in the studio ░░░░░░░░ ratings are weak Laughter ░░░░░░░░ I ll let you ░░░░░░░░ know on Monday Ryan ░░░░░░░░ you so much Michael ░░░░░░░░ know you like