BlackRock Inc. Chief Executive Officer Larry Fink said investors are too quick to conclude that high inflation is over, raising the prospect that bond yields will rise along with steeper prices.

In 2017, weeks after Donald Trump’s first presidential election victory, Xi Jinping became the first Chinese head of state to address the World Economic Forum in Davos, Switzerland — winning applause as he inveighed against protectionism and declared that a trade war would hurt both sides.

Today on the show, host David Gura talks to Bloomberg’s Ted Mann about Trump’s influence over Davos, and the CEOs who missed the opening of the conference — including Elon Musk, Jeff Bezos and Mark Zuckerberg — but had front-row seats at his inauguration.

Fink was sharing the stage with Peng Xiao, the CEO of AI company G42, who interjected with “to some extent” on Fink’s contention that fear drives bitcoin. But Fink just doubled down on the idea that it was “okay” for bitcoin’s fortunes to rely on fear.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said there are signs that the US stock market is overheated.