Again. Senate Majority Leader Mitch Mcconnell failing to concede the election to joe biden just yet. The fed put out a warning on asset prices. The rally to a two month high. Since the highest levels 2018. The index at a record high. So much to really chew over. Joe such a wild start to the week of course. Digesting the election, the light at the end of the tunnel. Here is a chart. It is a number. But here is a pair. This is one of the favorite pairs of neil over at renaissance macro. To bike atot need home. There you see the entire story of the day, those two numbers. Romaine someone else made this for us, about vacation time. A big part of enthusiasm today is that we will finally all get out of the house and go back out to restaurants and, more importantly, to travel. The Consumer Confidence index tracks intended vacation. You can see that basically dropped off a cliff. Still has a pretty long way to go. I thought this was interesting. Earlier on this up the other show that we host w
Biden said to nominate former fed chair it chair janet yellen as treasury secretary plus, another round of positive news for a possible covid vaccine. As we head to the end of the year, i dont even know if the market hates uncertainty anymore. Terrible is such a cliche. Life is nothing but constant uncertainty. 2020 one of the worst years of our life, one of the best years for the market. Caroline people still kind of one a haven. Joe obviously, stocks continue to do well generally. Betsen see some reflation emerging in the market. Look at the 10 year yield. It is just not going anywhere. Earlier inome point the summer. Higher a few weeks ago. With all kind of things breaking treasuryrtainty, a chief, the desire to hold safe haven assets. Aroline maybe we will get closure in the gap. Escape sloshing around. But this fallout between the fed and treasury made us question that relationship and also any sort of deal being broken in terms of fiscal policy for that is why in the white line,
On bloomberg tv and radio. Typically alongside tom keene and Lisa Abramowicz, im jonathan ferro. Hyde is here this morning. You and i are operating into different time zones. Weve got to work through a brutal here and now on both sides of the landing. The atlantic. Lockdowns are coming to an end on your side of the atlantic, but i wouldnt want to get up early for anyone else. At the moment, i am seeing some Market Action that just speaks to this rotation not having that much longevity this week. Bettern this is much than what tom gives back. Perfect timing. Lets get to the price action this friday morning. We do head towards another week of gains on the s p 500, set to add just a little but of weight to it. Up 0. 25 on the s p. The posture just a little bit more defensive. Small caps underperforming, big tech outperforming. 1. 1920, up about 0. 1 percent. Huge calls coming through on the euro for 22 anyone. Do we have 8 for 2021. Do we have a repeat of what we saw in 2017 . On 15 year
Christine lagarde, president of the ecb, moderated by Francine Lacqua. Francine what a great pleasure to be here with Christine Lagarde, president of the European Central bank, and welcome to the forum here at bloomberg. Everyone is talking about the vaccine. How will that actually change your forecast and the economy if we do get a vaccine early next year . Ms. Lagarde it is lovely to see you and to participate. To your question, i am not sure it is going to be a major game changer for our forecast, simply because what we had anticipated in our baseline was that some stage in the first half of 2021, there would be a vaccine, and that it would be rolled out in the course of 2021. So it might be a little back celebrated a little bit accelerated given the news we are receiving from the various horizons, germany, the u. S. , but i dont think it is going to be a game changer, so to speak. I think that our forecast is being revisited all those times we speak, and we will be releasing on dec
Republican leader Mitch Mcconnell says President Trump is right to protest the vote cap. The u. S. Sanctions more people in hong kong over chinas increasing control. Washington has suspended its treaty with hong kong and ended reciprocal treatments on shipping. Haidi lets take a look at this market situation we are setting up for. It is firmly risk on after all the really bullish view overnight on account of the high efficacy from the biotech vaccine. Asx 200 trading higher by 1 10 of 1 . It is a handful of asiapacific markets there is or going into overboard territory. One of those is new zealand. We are seeing kiwi stocks of about 9 10 of 1 . We have the rbnz decision ahead of us this week but that market is up now for six consecutive sessions. Nikkei futures reversing pretty dramatically at the moment. Above looking at opening 25,000 for the first time in 30 years. Trading at thell highest since november 1991. A quick look when it comes to u. S. Futures as well. S p active futures u