Down sharply, for a third day in a row on fears that these tensions between hon congress and the tension with China Hong Kong and the tension with china is a sign of the tensions in the u. S. , the idea there will be more likelihood the china firms will be delisted here in the u. S. , confirming the risk tone we are seeing for more of the china sensitive areas. Bonds rallying a little bit. This is very small decline for the s p 500 on the day, david. We are going into the long weekend so it feels like a lot of traders have checked out. On the week, it has been very choppy, great point, two down days in a row. But on the week, we are looking at a gain, up 2. 7 . That comes after last weeks loss. That range we have been talking about is in place, the bulls and bears looking for more information on what could be next for the Global Economy and how that will play out through the markets. Stay tuned. We will be talking about that next week. David thank you so much to Abigail Doolittle. The
Treasury yields rise as u. S. Jobless claims drop. Is creaking aine milelong allegations of cheating. Saudi arabia moves forward with a volatile deal. David david and amidst those headlines, we are just getting a kind reminder was, i dont know if it is early, 50 right now, but it has been a relatively good week, even considering the pullback we had. Gold, 1721. Lets put it this way. A moderately soft start to the session, a third of 1 . , give ores trading take, a 10th of 1 . Jobless claims were below 2 million. We are looking ahead to the jobs report later today, 19 Unemployment Rate is what we are expecting. Have a look at the currency markets with the dollar, the weakness in the dollar up about 12, 18 hours back has really been your top theme as well. Strengthe seeing some coming through a lot of these asian assets. Have a look at where we are on euro. 90. Ling back up about we are up eight days on the euro until right now. The ecb outlook increasing the that roughlyending until abo
Treasury yields are up as jobless claims drop. And open for business again, but where is everybody . Errie calm after restrictions were lifted. Muted the session seemed after the week where we saw gains in global markets. We have a pause when it comes to the stock rally overnight. Finally starting to address the the data we trickling and showing the impacts of the pandemic on the Global Economy and the evaluations we see when it comes to markets. Japanese features trending a little lower at the moment. Futures trending a little lower at the moment. Futures flat at the moment. David a welldeserved break. Lets get to the top stories. Despite a recent wrapping up of tensions, the u. S. Trade representative says he feels good about a phase one agreement with china. Robert lighthizer says beijing was honoring the pact when he took significant purchases in recent weeks. Selina wang is in beijing. Take us through what Bob Lighthizer had to say. We got some positive rhetoric about the trade de
Rate declining. Japan lifts its emergency measures in tokyo, saying theres no need for further restrictions. Scott morrison addresses the pandemic file that later. He is being told he has a once in a generation chance to reform the australian economy. Consider. S to as we get underway this Tuesday Morning in the asiapacific, keep in mind lots of markets were closed monday including the u. S. The futures, to use that is any guide, we can almost say we are in the asiapacific. We are getting this coming online. Up 30 points clear of where you last traded on the s p back on friday, in terms of the cash market. Spy futures indicating a big pop. On top of the best day on monday. Highs. March 111 philip the board and take a look at the currency markets with ecb in focus and perhaps we are getting signals and some comments from key policymakers, we could get more stimulus, probably on the way. I will be generous. The record low. The aussie offshore rate back in september. There we go in terms
Attention to that, with the ecb coming up thats a huge deal. Delivers more stimulus, and the bcp will be really under pressure, down by 4 10 of 1 , but its all about the dollar and its driving Global Equities higher. And the tension between the weaker dollar driving risk themete, and the overall has been the protest here in the u. S. Under covid. Lets break down that disconnect. Torsten, what is your best explanation for the markets versus the headlines . We have discussed why markets are doing well, and we continue to believe that the answer is on the significant firepower coming from the fed. If you change the credit market as dramatically as they have , i spreads are very close to where they were before. All of that is, in plain english, making this look a lot better today than it did a month or two ago. And you have the equity of companies with the support to the credit markets, this is probably an important reason why the equity markets continue to do well. Think the fed is making