Green shoots rhetoric. What makes it interesting going into november, the financials had already been up 30 out of the march low, plus the yield curve has, in. The yield curve has come in. It is puzzling why the banks are up so much. It has to do with the narrative of the traders and investors buying cyclical stocks on the potential for strong recovery. Guy i will cheat david i will cheat. You and i talk when we are not on television. What is going on with the yen . Abigail those are some of my favorite conversations because we can move back and forth. The yen does bring attention to itself over last year. It is up about 4 . When you have stocks at alltime highs, you have bonds at record highs, although folks will say the fed the yen is a pure play haven. Over the last year, up about 4 . Some traders might like the fact that stocks are higher, but theyre probably hedging for the possibility there could be choppiness ahead. That is true for the vix. The vix is still above 20. That is in
Area counties will be under this new regional stay at home order. And then 2 more counties are to follow soon after the new rules coming us coronavirus move closer to reaching itals capacity. Thursday governor gavin newsom announced that order would go into effect in 4 regions intensive Care Capacity fell below 15 so thursday icu capacity here in the bay area was above 25 . Yesterday it dropped by more than 4 to just over 21 where it stands right now, although capacity did rise by half a percentage point today it is still dangerously low, which is now prompting several Bay Area Health officials to implement those new stay at home orders earlier than necessary. So heres one the orders officially begin San Francisco santa clara and contra costa counties will begin starting these rules on sunday night at 10 which is when the states curfew goes into effect. And the Alameda County it will take effect just after midnight on monday. A marine county doesnt start until tuesday at noon and once
The u. S. Election result suffers more setbacks this time in pennsylvania and michigan. Not backing down thousands of people protest in thailand. Does the government has to have proposed amendments to the constitution . And the sports in mens cricketers and ansell returned to play in pakistan for the 1st time in 16 years. Welcome to the new u. S. Drugmaker. Pfizer plans to request emergency approval for its covert 1000 vaccine in the coming days. This after results from its trial show that its safe and around 95 percent effective in all age groups that seem developed with german partner has shown consistent results across the demographics with no major side effects. Lets get the very latest from our correspondent, joe castro, who is live for us in wilmington, delaware, really encouraging noises coming out from pfizer for the back of Companies Like madonna saying there that seem to it has a very high success rate. Thats right, so this is very encouraging news, but the irony is that thes
The 1. 20 mark. We will talk about that in just a moment. We are basically flat. Brent crude, which has soared during the month as well, what and what is happening very ,arefully with that opec story trading 47. 68. In terms of the german bund market today, we are seeing a little bit of movement, but not much. That kind of captures the story of the last month, doesnt it . Not Much Movement in the bond market, lots of movement elsewhere in risk assets. This kind of sums it up, the one month of the stoxx 600. For some markets, many markets here in europe, smaller markets were up by over 20 . Alix back to the main news with the vaccine because it is monday, so we obviously have vaccine news. Moderna is requesting clearance for its vaccine in the u. S. And europe today after analysis showed it was 94 point 1 effective in preventing covid19. Moderna Ceo Stephane Bancel will be speaking to us later. He earlier said that we have millions of doses ready. We will have more and more every couple
The russell 2000, another alltime high, up 2. 1 . The s p 500 up a solid 1. 5 . Important is the cyclical reopening rotation we had happening in recent weeks, often it comes at the cost of tech but that is not happen today. The nasdaq 100 is up 1 . This is a bully lock cyclical rotation on the expectation of normalizing economy this is a goldilocks cyclical rotation on the expectation of normalizing economy. I know we have been talking about whether or not it will last. If we take a look at the sectors on the month, it does suggest the cyclical rotation is on the way. Take a look at energy, up 30 . Heading toward its best monthly performance ever. That is the foam oh buying we have around that is the fomo buying we have around energy, but also financials. We have stocks off to the races. Taylor is interesting as we talk about the reflation trade in the outlook for politics. We are looking at bond yields up three basis points on the 10 year, five basis points on the 30 year that goes in