Prompted widespread fears and borrowing has prompted collapse. Fears of and, information sought on accounts involved in the elections. We have struggled to hold onto the gains we saw earlier this morning. Today, the u. S. In the red. The only sector still up was technology, but barely. We had that rally, but tech lost ground based on some of the details on the tax reform bill. , want to pull up this chart 879. It shows you how investors have been anticipating the tax bill will be bearish for tech stocks. Shares underperforming since the end of november as more details that come out on tax reform. David it has become a real problem, especially in asia. We have been down for seven days. Four of those dames with the kleins of more than 1 . It has been a drag. Declines ofhose it more than 1 . It has been a drag. Lets look at markets in new zealand, kiwi dollar underwhelming. Gdp,straight come big day, rba Rate Decision not to do anything,. 1 . Yields lower, bonds up, aussie dollar unchange
Moving into the thick of things as we move into these markets opening up in the next hour or so. In the asiapacific, it is friday. Lets get a sense of how we have done so far this week. Looking at one of our functions on the bloomberg terminal, a flow of the money into and out of different etfs around the world. Over thehe net flows next week or so. The u. S. Has obviously seen a fairly topsyturvy ride and where we are. Getting weakness come through earlier on in the japanese currency. ,he yen solvency also there reacting or perhaps getting offered up on the back of the gdp numbers coming out of japan. That inbe talking about a few moments. We are looking ahead to the data coming out of the chinese mainland. Around this time tomorrow, the all important inflation. Ppi numbers coming out, so it is. Airly big lots of guests coming on the show to tackle these topics, including bitcoin. 30 minutes away. Thats on the open up markets here in hong kong. Sophie is tracking all the market moves
Bitcoin is also said to be in a bubble. The price has gone up 20 fold. Betty forget about the equity markets and bond markets, which is going to be focused on bitcoin, right . That is the big distraction for traders right now. Bitcoin futures are for the first time trading on the cboe global index them a big milestone for the financial markets. I dont see a whole lot of movement at this point. Be an appears perhaps to opening price, but i cant confirm that right now. We are watching as these traits start coming in. , brokersthe traders are saying dont expect huge movements. This may be a slow burn coming thewhere we finally for first time, have these derivatives traded on bitcoin. Yvonne it could be a welcome slow burn given the volatility in bitcoin for much of this year. Levoss mentioned, the wink twins banking on this, they are saying it could have 24 growth in the future. Morehat it has become mainstream, it could provide perhaps more stability in cryptocurrency. On the other hand,
Hunt may be over as conquest says it is no longer in the running. We are on bitcoinwatch j two. Day two. This shows the volume and price action that we saw. 3818. Prices were quite volatile. Volume was highest right at the open. If in doubt as we headed toward u. S. Trading hours. That was further evidenced among bitcoin critics. Demand thate retail is fueling what we have seen. Guest, stephent roach joining us from Yale University. He is calling it a speculative bubble. It is just the first day. Things could get more normalized. Girl lets also betty lets show you the u. S. Market. Nasdaq, the dow, and the all in the green. This is a solid recovery. Investors were much more bullish on some of these sane stocks in tech shares. An unwind of this reversal that we saw a couple weeks ago. We are seeing a mixed session here so far. Were looking at new zealand and australia. The kiwi Still Holding onto solid gains. The Deputy Governor was named the next central bank chief. Seen as a less radi
Right down to the wire with an election that is too close to call. Be live in montgomery, alabama in just a few moments. We are getting breaking data on the jobs market in south korea. The november unemployment, jobs rate at 3. 7 percent, higher than what was estimated for no change for the unemployed rate at 3. 6 . Of masksss rate sort the big issues going on in south korea. Surface it looks good, but underneath we still have very high unemployment with the youth and a high parttime Unemployment Rate employment rate continuing to dog banks and the president , who is trying to put in Public Policy to bring the jobs market back in south korea come and that is likely, possibly going to have some effects on trade. Certainly will be when it comes to the fiscal side of things when it comes to south korean reforms from the president wanting to implement. Perhaps we will get those youth and implement numbers in just a bit. At asiake a look appeared pretty choppy when it comes to tax reform, u