Billion. That is the rumor promising 850 billion. That is the rumor from secretary of the treasury Steven Mnuchin. Crude also recovering. We still have a two handle, all after the vix hit a record monday. Time now for global exchange. We are going to bring you todays market moving news from all around the world. From new york to brussels, washington, and berlin, our bloomberg voices are on the ground with this mornings top stories. Futures trimming early gains this morning, then rallying. Here was more in new york is bloombergs annmarie hordern. Walk us through some of the action so far. Annmarie as you said, we hit limit up on those futures. We then went lower into negative territory, but now back in positive territory. It does look like the bears are in control of this market. The biggest plunge on markets since 1987. In europe, similar story. We were seeing a lot of gains, then went negative. Right now on the stoxx 600, we are about flat. We are seeing some Massive Gains on the lose
Than 60 of soybean exports before this whole trade war began. Futurespy have rebounded from two years of losses. Trade tensions have appeared to thaw a bit. President trumps tweets earlier that he will sign phase one of the trade deal on january 15 may open the door for more american exports to china. Vonnie thank you. That is renita. Thanks for the entire markets team for the bridge throughout 2019. Our guest,us is eddy. And here with us in studio is bloombergs mike regan. We added 5. 9 trillion dollars in value to u. S. Stocks, to the s p 500 in fact. Hard to believe that number even exists. Mich there it is. One of the real Amazing Stories about this year is the everything rally, whether it be oil, gold, havens, treasuries. The treasury etf is up about 9 for the year. 15 for the year. The Bloomberg Barclays aggregate bond index is up 9 for a return for the year. It is rare to see a year like that were basically everything performs. I think part of it is the fact that we have this hi
Well. Lets dive deeper into the action with all of our markets reporters. Abigail, get us started. Movesl with such small for stocks, i want to highlight a chart from last weight. It is smallcap. Smallcap does very well in december. This chart makes a compelling case for small caps to do well in december. What we are looking at is a decadelong chart of iw m, the smallcap etf on top. We have iw m relative to the s p 500 on the bottom showing smallcap has been on performing over the last decade. See these bottoming areas. That is when smallcap has started to outperform. Frank appel larry is very bullish on the fact that smallcap is not only broken above the 1600 level, but it does appear we could be in a position of time outperformance relative to smallcap. I am going to combine bonds and technology and see if we can do both in 30 seconds. Twitter is issuing their first junk bonds, about 600 million. On eightyear notes, three and three coders. They are getting dashed three and three quar
Points. Russell, the underperformers. Lets dive deeper into the action with our reporters. What were you watching . Abigail small moves for stocks, record highs, bigger moves for bonds. The 10 year yield down five basis points, the biggest move down, the biggest rally for treasuries. Lets into the context of a paul. By he said if the 10 year yield breaches the downtrend in yellow, that he would turn bearish. Could see the 10 year yield go up to 2. 15 . Mike in the Corporate Bond market, all eyes have been on this monster offering from add ve to purchase its to fund its purchase of allergan. It is the fourth biggest deal of all time. The biggest. Of the deer of the year the biggest of the year. If you look at the spread of investmentgrade bond, fell to a 20 month low of 104 basis points yesterday. That is according to the Bloomberg Barclays u. S. Aggregate corporate index. This obviously bodes well for what the bond market is really gearing up for. And that is what could be the biggest
Protesters brought the citys financial district to a standstill. Teargas disrupting the commute for a second consecutive day. Executive carrie lam says she still hopes district elections will be held as scheduled. We still hope we can hold the elections and try our very best to do so because it is an important election to respect and safeguard, but theres the issue of safety in order, so we have to work hard to satisfy these two requirements. Alix 20 meet on the phone from hong kong is karen joining me on the phone from hong kong is karen leigh. What happens next . Karen carrie lam urging order, and at the same time, we had two days of really jarring images and clashes, especially here in the financial hub. These arent images weve seen before. This feels like a bit of an escalation. This is something that led police this afternoon to warn that the city was on the brink of total breakdown. Carrie lam talking about how she still hopes district elections will be held in a couple of weeks.