Particularly for tech and tech advances. Desperatelys a calm looking for news flow on the pandemic, and lets not forget the lack of stimulus in washington is just stunning. It is almost hard to believe we are here in the middle of september. Comparehink we have to the selloff. The character was different. This wasnt about big tech. Industrials,als, materials, energy. Thats where the price action was over the last one he four hours. Tom we are focused on Prime Minister johnson. Comments soon, and then a speech tonight to you and the nation at 8 00 p. M. Ive got to go to the pub closing at 10 00 p. M. Can you expend the difference between a pub closing and someone getting the virus at 9 00 p. M. Versus the usual midnight . [laughter] jonathan no i cannot, and the Prime Minister will have to explain that. I am not sure he will even try. I think the big issue for many people is just capacity. If you have a problem with people going out and mixing too much, then address capacity. If that is
Quite good. Within the pandemic, it is a big deal. The news flow is extraordinary. But that was not a small item yesterday, that first failure of a phase three trial. Francine absolutely, and the next question is if we do have a viable vaccine, how many will take it voluntarily . We will talk about that in the coming days. Thats get to first word news with ritika gupta. Ritika joe biden says President Trump willingly lied about the threat of the coronavirus for months. The president ial candidate spoke after the president spoke with bob woodward after the president s conversation with bob woodward was revealed. He said he downplayed the severity of the virus in public to avoid panic. The book will be published this month. J. P. Morgan found some of its employees possibly received Coronavirus Relief funds intended for american businesses. Bloomberg learned the bank noticed a suspicious amount of money had been deposited into workers checking accounts. Some employees have been fired. J.
1 outperforming up a full point. 75 10 year yeild nearing basis points out of safe haven treasuries. 2 . Ollar up approach torelaxed inflations. We will seek to achieve inflation that averages 2 over time. Will achievecy some time. R prof, what do we still need to know . It was powerful and important. Not trying to. Low the ecomony down experienceecade of unemployment. We will take more of a back seat. It even overshoot inflation . Fed wills where the go. Before weation down get to the 2 . Is hot . That is what they arent going to tell us. They dont want to be constrained. Rt japan. Ference countries acted too quickly. Of gdp and is going much higher. Thatdont want to get in situation. Thatwant to go higher and means we will get to the 2 average, which might mean target. N above the 2 are you concerned valuations are getting too extended . The fednk some of it, liquidity support was important to avoid the market disfunction. Sell treasury securities they will sell everything they can.
More than 3 higher. Shares in astrazeneca hit a record high as the giant prepares to release positive news on the covid19 vaccine and julius bar with a drop in assets under management but a record high net profit and stresses it is well prepared for a challenging second half. European leaders remain deadlock after a drawn out three day summit over the budget and recovery they will resume talks today over how to allocate the money and urging his colleagues to approve the Recovery Fund, italian Prime Minister pushed for unity emphasizing that the pandemic has effected the whole block. Were going through a stalemate. This looks like its very complicated. More complicated than expected theres many issues were discussing and were not yet able to resolve and i have invited all eu leaders to converge to approve the next generation eu which is a plan for european recovery. Over the weekend a lot of negative headlines around the stick point, the size of the fund, between grants and loans and no
August 15 but also continuing down. 7 the nikkei and the futures in the u. S. Are looking lower as well. Data expected out of the u. S. Later today. And in terms of looking at some of the currencies in the region, we talked about the bloomberg dollar index. Down about. 10 . Dollar weakness is essentially beneficial to equities in this part of the world and currencies as well. Aussie, thats what youre looking like, essentially flat and new zealand had jobless numbers that came in less bad than expected. The kiwi dollar up. 2 . Lets move on to some of the commodities, gold again looking strong and well, above 2000 an ounce, a little bit of weakness in the last hour or so, down about. 2 . Terms of oil were looking at the beirut story, the port explosion there and there was concern that have geopolitical tensions emanating from that. Thats the yield picture in the points. St over 10 basis rally washe dollar rather short, and then weve got gold, the inverse correlation back at the moment. T