Woodward in march this was terribly deadly and contagious at the same time he was saying to the rest of us do not worry so much. Jeanne this is not the conversation the president wants to be having. Any top of the pandemic does not work for him politically. This is not what the campaign wants to be talking about. More importantly, we have a president on the record admitting he knows how devastating and deadly this is, and many months later you have 190,000 americans dead, many of whom have been sick and ill as a result of this, and you had the president , months after he told bob woodward how bad this was inviting people to places like tulsa and saying you do not have to worry about safety protocol, you do not have to worry about masking, you do not have to worry about social distancing. This is being drummed up by people who want to get me. When he is on the record with bob woodward he is saying the opposite. The president and his team have to explain why he is saying one thing privat
Like it is getting down through thursday lows. We are seeing pressure. I love covering the markets. Europe is a snooze fest from an equity market point of view. There is nothing happening. Light volumes. Market trapped in a tight rein from an equity point of view curate we are going nowhere in a hurry. The Energy Sector is reasonably well bid but not spectacularly. The euro is back towards the middle of its risk range. Brent catching a bigger bed. We have the opec note coming out later this week. Reports worth paying attention to. Overnight, we do not see much out of china. You are seeing a little bit in terms of the nasdaq. Alix yes. That is a good point. He saw mike wilsons note at morgan stanley. He came out in the note last week talking about it was a pull forward of demand for tech where sustained acceleration. If there is a pull forward, how much earnings estimates increase can you see in 2021 . You also wonder moving into cyclicals, may be moving into cyclicals and out of the gr
Are already financially strapped. These are republican and democrat winners. Republican and democratic governors. Not eager to take over funding the federal government is supposed to be providing. Trump has not had a lot of takers on these offers and right now these checks are not going anywhere until some governors stepped forward. David it does feel like a game of chess. You heard secretary mnuchin say weve already given the money you need to spend, there a much of money youve not spent from the cares act. Craig i do not think the states see it that way. It is funny how the treasury secretary does the at that way. Theres also a game of tit for tat where trump looks at all the states, previously the hardest hit states for the democratic states. Your illinois, new york, california. Now you will have the republican states, florida, arizona. Trump team has been critical of the states handling of the finances, and some of the states budget Balance Sheets are awash in redp you would illino
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.
You might say better late than never. Adam that is exactly what i would say. Better late than never but also powell and Richard Clara for the process. There is a reality going back to well before the Global Financial crisis that the phillips curve has been flat. This is a fancy way of saying you can have deviations in inflation deviations in employment to the upside and you do not get that much inflation for it. Then you combine that with the reality we have seen in japan for a long time and in the u. S. And europe for the last 12 to 15 years that when youre too close to zero on your Interest Rate balance, you cannot react as well as you should to policy and adjust policy. Fomc powell and the they unanimously adopted the statement before he spoke what jay powell and the fomc are saying is they are catching up with reality. And jay powell was framing this as we have to be realistic and pragmatic. This is how the economy has changed in our process must reflect the way the economy has cha