we start on the markets because a day after wall street closed at new record highs the jitters have returned. but i don t seem to have a camera! what i can do is. you know what? you can look at my chair. we are coming back. hello, nice to see you again. shares have fallen sharply, oil had its steepest one day fall since last summer, and those bond yields the effective interest rates on government debt have soared again. the yield on the 10 year us treasury bond hit almost 1.75% its highest since the very start of the pandemic back injanuary 2020. what s that telling us? that investors are scared inflation is about to take off and interest rates will have to rise soon. that s despite reassurances to the contrary from the head of the federal reserve. we d had about a 45 basis point jump in that treasury yield, and during that time, that is when we saw the nasdaq sell off more than 10%. so the question here is, what does it look like on the chart now for the treasury yie
Anna a very good morning, everybody. This is bloomberg daybreak europe. We have been in davos all week. We build with a crescendo towards donald trump speaking at the event. Haslinda amin is there. Haslinda good morning. The trump day. Be he is expected to deliver a keynote address at 2 00 p. M. Local time. What is the message . Nobody knows. It is likely a push for America First. About one year ago when he came to power, a lot of people were saying it could be a doomsday scenario, weighing on Global Growth. A year on, lots of optimism, and we are feeling it here. Plenty to talk about today. Final day in davos. Shortly, i will be talking to different guests. We will also bring you an exclusive interview with francois bill oreilly with francois velleroy. Villeroy. Ancois lets have a look at where we are in the markets. This is the asian equities session, down. 2 , losing a bit of ground. The Australian Market is closed. Australia day there appeared the Australian Dollar getting a little
Welcome to on the move. Lets get first of all right into the first word news with hans nichols. Hans thank you. The cost for banks the yuan surges to a fresh record amid speculation of intervention by the central bank. Jump climbed to. 6. 2 meanwhile, the peoples bank of china is said to have repeatedly intervened in the offshore yuan markets and yesterday. According to people familiar with the matter, the central bank has been cracking down on speculators, in a move aimed at maintaining a Stable Currency. It narrows the onshore and offshore yuan rate difference. Oil has extended declines for the lowest close in more than 12 months, following a 12. 3 slide on monday, before u. S. Government data, forecast to show crude expanding. Caroline thank you very much. Less than half an hour until the european open. Lets dig into where the markets are running themselves up. The script is pretty much the same. Oil trading lower, china intervening. We have a real market view on risk aversion. Dax
We still have problems like salmonella and botulism well, various Health Problems with these foods just because they arent refrigerated. They are past their shelflife. There are others at other issues besides the thc. So that would be an area, the edibles. Is like i said, this vaping quite a big deal particularly for our young people. It has become very ocular. The very popular. And make concentrates are very potent. Desperately need this Application Program that the governor is working on to rollout. We should get a curriculum in our Public Schools go, to. Schools, too. Well, the Data Collection is extremely important. We really havent been keeping great statistics on marijuana use in terms of people going into the er. They are starting to do it now. But to really create sound Public Policy, we need accurate data. I would argue that is very important Going Forward also. Host gina carbone with smart colorado. There is a website if you want to find out more abo on cspan, a discussion on
Policy play in preserving Financial Stability and how to ake sure that centralbank independence is preserved . Second, with increasingly complex financial interconnections, many small, open, and emergingmarket economies have found a challenging to deal with large changes in exchange rates. How can these economies retain Monetary Policy independence in uch a policysetting, and what tools should they use . Finally, the crisis has galvanized a broad effort to reform the global regulatory framework. There has been progress on various aspects, but much still remains to be done. How will financial regulations and the new structures of the Financial System affect the functioning of Monetary Policy domestically and abroad . To all of these questions, im sure some of you have the beginning of the answers. I know that our speakers will offer their proposals, but i hope that it begins here. Before i give the floor to chair yellen, it is my real pleasure to introduce the person to whom this lectur