We are just crawling back to flat on the nasdaq. P half a percent. Big moves in treasuries, if you can call it that. Except two basis points on the 10 year. The dollar index relatively unchanged, although other currencies have seen strong swings against the dollar this week. The mexican peso stronger by. 4 . Yen also stronger but are 3 . Lets stick with treasuries and the relatively large moves this week. The industry has more than 12 trillion of assets but record low yields on treasuries are causing a problem for the industry expected to deliver annual returns in the high Single Digits. For more on the subject, we welcome brian chappatta. It seems like maybe once upon a time but right now nobody has an expectation of high Single Digits for their 401 k s or Pension Funds more general. You are not getting it in treasuries. When i was talking about pensions staying away from treasuries, the 30 year bond yield was at 1. 4 . Morning, 1. 24 this which is rare in the fixed income market. Tre
Continue to gradually reopen, auto plants are restarting some operations this morning and Homebuilder Confidence increasing as well ahead on todays show, President Trump host iing a rou b table with restaurant executives at t the white house this afternoon well speak with the ceo of restaurant brand, the Parent Company of burger king and pop eyes. Plus, billionaire entrepreneur and Restaurant Owner will join us to discuss whether people will actually come back to restaurants, casinos an sporting events hes got all three of those covered. Hooe also at that white house meeting. Lets focus in on the big stori were watching mike is tracking the big market rally. Meg has the latest on modernas vaccine progress Brian Sullivan watching the comeback for crude well tart off with the broaderr rally, mike, and what stands out to you obviously the market for months has been moving along this spectrum that goes from you know sooner and faster for a recovery to you know later and slower and right no
Climbing the wall of uncertainty, but thats true for pretty much every asset class. A lot of folks talked about 2019 as the year of the rally for everything. If we look at highyield stocks along with gold futures, look at that huge gains. 36 for oil. Highyield treasuries, basically the best year since 2009, 2010, or 2011 depending on the asset class. One question on folks minds at this point what 2020 bring . A lot of strategists bullish on 2020 and what that could bring. If we look at charts on the terminal, we will see the s p five the s p 500 is overbought, well above 70. Some technicians dont mind when its overbought. Back in 2017 into 2018, higher highs until it starts to turn down, those conditions really suggest or could be more bullish momentum to the upside. These kinds of rallies go longer below 70, itst kind of bearish and thats a look at the market trading day from new york. This is bloomberg. This is Bloomberg Businessweek post quote live on Bloomberg Radio and bloomberg t
Good wednesday morning, im Carl Quintanilla with Morgan Brennan and jon fortt. The president this morning set to tour the mac pro Assembly Plant with apple ceo tim cook. Eamon javers will raise the curtain on that this morning. Reporter youre playing just the two of us and it is going to be about just the two of them. The unlikely relationship between donald trump, the president of the United States, and tim cook, the ceo of apple cook has spent the past several months cultivating a relationship with donald trump largely, im told, by going through the trump family having conversations about technology with Melania Trump at dinner at the white house. Talking with ivanka trump about workforce issues hes cultivated that phone call relationship with the president. I asked the president why he seems to have such a good conversational ability with tim cook the president told me a couple of weeks ago, the reason is because cook is the one ceo in incorporate america who actually picks up the p
Advertising deal with openai, and as dom said, gameshop shares tumble. Take two cuts its forecast in what it calls challenging times. Lets begin with markets a day after the dow hit 40k for the First Time Ever on pace for its fifth week of gains. What did you make of all the fuss yesterday . I thought this was one of the broader attempts at a major milestone. And what led it was just incredible. I mean, youre dealing with a level of broad that what let me tell you, the most important thing was rates had only something to do with one stock out of ten. You could pin on rates. I think thats very important. I do believe most of these companies are just run by ceos that dont get enough credit. Its amazing to me that we simply are always willing to consign, i think thats because of the nonsense risk on, risk off, thats just something that came up to confuse the viewers. Im not crazy about it. I think whats happened here is when you get a guy like solomon, and he realizes, you know, goldman i