Significantly. That brings back the question of, how do you unwind that trade . Makeine he really did clear that they are trying to work with the fed when it comes to trade. Lets get a deeper dive into the action. Ill start with you, abigail. What are you watching . This may come as a surprise. One area that has outperformed is ems. The emerging market index, outperforming in a huge way the s p 500. The same thing for the russell 2000. It seems shocking that they are not selling off more. But the answer may lie in this chart, because e. M. Has been underperforming for some time. Index, the e. M. Equity the s p 500. The s p 500 stuck in the middle. E. M. For quite some time had been nicely higher on the year. There were liquidity issues with china. The s p 500 as well. E. M. Has been right around even for some time. Ahead for thelook broader equity markets, renita. Gold, whichlook at is extending earlier games, as investors worry about trade and the fed, they piled into the safe haven a
The s p 500 30 below the 30 day average. It goes to what mike was saying about how a good jobs report lends to sector rotation in equities. Romaine we should point out that some of the other asset classes, we did see the dollar higher on the week, oil down on the week, and very low volumes today, but looking at etfs, volume was about average. We did see a lot of activity there. Joe small caps. Romaine thats right. Lets dive deeper into the action right now. Renita, get us started. Im watching iron ore, which sunk to its largest drop in about two years. It is ending the week actually up the most since june 21. Most Metals Commodities definitely took a dive. The bloomberg Commodity Index also lower and the dollar higher. Which makes commodities that are priced in the dollar more pressure than usual. Taylor . Taylor for me it is all about bond deals. We are taking a look at the price action we are seeing on bond yields. We are now rising nine basis points on the day. That is our biggest o
mining stocks trading lower today. also seeing weakness in the single currency, down by 0.2%. dollar strength persisting. we also have the story in merkel sith angela political success are stepping down. that is a surprise. we are continuing to watch what is happening with the coronavirus. that makes a significant inroad into what we are talking about. we are joined now by mark haefele, ubs both management global chief investment officer ubs wealth management global chief investment officer. he joins us now. is it a market story? how do you think it will be factored in over the coming quarter? it is a market story based on fear causing a wider reaction in the economy. like everyone else, we are focused on what is the direct impact and how long it is going to last. i think in our analysis, while the number of cases has been rising, the death rate remains someively low, and despite cases breaking out in singapore, certainly a developed market, this remains contained, and ther
Its 30 minutes until the end of the session. We are lower right now after being up and down. Volume is lower today because of the thanks giving holiday even though there isnt a holiday here in europe. Its a spill over a spillover effect and these are the currencies against the dollar with the dollar drifting lower after eight dovish fed meeting. After a dovish fed meeting. Silver, bonds, communities and cdss. Shortgs just felt fell of estimates. In the cognac business. The french spirit makers cognac sales have been improving in china after a fiveyear government crackdown on extravagant spending. The company has been expanding its ultra premium versions is prices run as high as 80,000 louissix liter bottle of roma xiii cognac. There is a 15 jump in annual profit by germanys largest steelmaker, forecasting higher earnings this fiscal year. Steel producers have been bouyed as china cuts plants to curb pollution and exports. Demand remains a strong and prices are rallying and the key stee