Sec. Pompeo good morning, everyone. Seeing as we are in the fourth of july, i thought i would lead off with americas founding principles for us this morning. The u. S. Was the first nation established on the premise that government exists to protect our godgiven, unalienable rights. I will say more on that in a couple of weeks. It was a revolutionary idea, we shouldnt forget about these complex Foreign Policy issues. The idea remains important and was unique. We are all striving for a more perfect union, we dont get it right every day. We use our unmatched power to protect rights at home and abroad. Happy early fourth of july to you all and your families. Now turning to the substance of my remarks today. I want to talk about one of the worlds most unfree countries. Yesterday, the Chinese Communist party implemented its Draconian National security law on hong kong in violation commitments it violation of commitments it made to the hong kong people and the united kingdom. In a u. N. Regi
This is how it looks at the moment. Nikkei feeling it at the moment although there is a deal on trade between the u. S. And japan. Nevertheless nikkei still 2. 2 percent down. Asx also feeling its. All in the red. Everything is negative as far as the market goes. Where is the money going . Lets have a look at what is going on. On top of that the u. S. 30 year. Gold up. At levels not seen since 2013 or thereabouts. 54 accounts. At one stage yen was at 144. 45 against the dollar. We have recovered a bit, 105. 24. There are all sorts of resistance. There we go. To the downside. 97, 51 for dollar, 30 yield 9. 81 . Money ise is where the going as people seek safety. Whats move things along and look at the first word news with selina wang. Macau has chosen a pro China Businessman as its new leader after a political process that featured no other candidates. Hell be the third leader since he territory was handed back to china in 1999 after more than four centuries of rule by portugal. Unlike
Points, desantis still second but hes down 6. Third, 16, his up next. 44 went with biden, 41 with trump. That slim lead is within the margin for error. Georgia, the Fulton County da wants to put donald trump on trial on march 4th, 2024, that is the day before super tuesday when it doesnt states hold primaries. Trump goes into a guaranteed chaotic trial the day before what may be the deciding primaries for the president election. In my opinion thats a delivered intrusion of a politicized judiciary. Stocks took a hit after the Federal Reserve hinted at more rate hikes to come. The dallas morning up 45, s p up 16, nasdaq up 65 lose this is what has so many investors worried, slowly Rising Interest Rates, the yield on the 10 year is about 41 4 . The two year yielding 5 , it is for 94. I will quote bitcoin because there is some movement. It has dropped below 29,000. Gas, no change, 3. 87 is your average up 0. 31, look at diesel, up another one sent overnight, 4. 34 the average up a whopping
1st. Is that what the date was . The fear gauge hitting the lowest level in more than two decades. The volatility index closing yesterday at 9. 77, the lowest level since december of 1993. I cant imagine thats not a place where you would buy. Though normal stocks that hit new lows what do they do . Hit more new lows. Stocks that hit new highs, hit more new highs. It can only go 9 more lower. Yeah. This only happened five times ever. Having always thought in a contrarian way that complacency and when people get participants get bullish, you worry. Call ratios, you worry. Percentage of investment services. If its that complacent i admit, okay, its not going to be le pen, but the world at this point, theres nothing that were not thinking about that could happen that could throw us for a little bit . It scares me. The flip side is if premiums are so low, you can buy insurance and remain long or replace your stock with calls. There are different ways to use this to your advantage to remain
On trumpeconomitrumponomics. Theres this protectionist threat which is not clear. Russias economy minister is detained over an alleged bribe related to mega domestic oil deals. Trump brer, brexit, the glo bond selloff. We have a stellar guest lineup just for you. Hi, everybody. Good morning. Welcome to the show. We have a bit of data thats trickling through. Italian preliminary Third Quarter gdp 0. 3 quarter on quarter. 0. 9 to the upside yearonyear. Consensus was for 0. 2 . Its coming through a little bit stronger than anticipated. Second quarter gdp revised as well to 0 . It means that the yearonyear figures come down just a tad from 0. 8 . The economy in italy growing more than expected in the Third Quarter by the looks of thing on domestic. The divergence with the german data we got out a bit earlier everybody expects the german data to hold up. Coming in shy of forecasts. So a bit of a surprise you might say. Of course there may be more susceptible to the free trade fears, protect