Cause u. S. Central bank to rein them in stabilize the markets by wednesday morning. And while the u. S. Central bank makes their latest policy moves their counterpart in the European Union is marking an official leadership transition on tuesday Christine Legarde officially became the new president of the Europe European Central Bank and the former managing director of the International Monetary fund with 394 votes to confirm her in the European Parliament 206 members of the European Parliament voted against muslim guard and 49 abstained from the vote reuters reports in ms the guards latest financial policy making position she will likely have to decide on whether and how the e. C. B. Takes on a new investigatory role in a years long cascade of scandals at Deutsche Bank reuters reported that e. C. B. Staff are considering opening a formal investigation Deutsche Bank for alleged an authorized purchases of their own securities specifically bonds classes. Wide as 81 and 82. Joining us now
Lets look at constituent movers in regards to all this. This is the position we find ourselves in. The yield one basis point to the upside. Again, we are waiting to hear more with regard from washington as to whether they will be doing anything about trade flows into china. This story has been getting a bit of traction. 7. 12. Aussie 10 year yields have continued to fall back a little bit. Up a couple basis points. The story is the governor of the reserve bank. Keeping his cards tight against his chest, as it were, as we look forward to that Rate Decision tomorrow. 3. 7 . It was priced towards the bottom end of the race. That is the position we find ourselves in. Look atlong, having a some images just coming through. Yvonne what we are seeing here is ahead of the 70th anniversary in china which is the founding of the peoples republic of china. We have some pictures of chinese leaders laying flowers at a monument to heroes at Tiananmen Square on the eve of this national holiday. Take a
Central bank the Federal Reserve which as expected lower the target range on the key federal funds rate by 25. 00 basis points wall street seems to be giving another thumbs down on the rate cut so looking at this lets go to. Lets go to the jay powell will explain the feds choices theyre cutting rates to boost the economy but heres what a poll said recently about the state of the u. S. Economy. So were not forecasting we were expecting a recession as i mentioned incoming data for the United States suggests that the most likely outgoing outcome i would look for the United States economy is still moderate growth a strong labor market and inflation continuing to back up i went through the numbers so the consumer is in good shape and really theres theres. Or or main expectation is not at all that theyll be a recession. And weve identified this disconnect before but mr powell says theres no expectation of a recession so then why the rate cuts weve been over this contradiction before but its
Expected, the question is how much. And bigtech in the cross hairs, Senate Committee holding antitrust hearing today. Companies expected to face tough questions from both sides, plus, President Trump ripping the New York Times once again, a lot to go at today including more problems for wework and half billion dollar deal to bring seinfeld to netflix, Varney Company begins right now. David day 2 of gm strike, Kristina Partsinevelos from picket line in arlington, texas, what are you hearing about the status of the negotiations . Well, right now its been pretty tense, went into the evening, im at the arlington plant over here, over 4,000 workers are focused primarily on larger vehicles, suvs, chevy tahoe, for example, the issue, a lot of Sticking Points, the one we were told by source that issue mexico, Union Workers that want the production to come back to the United States, more Jobs Available for workers and several talking points i guess you should say the laundry list of items that
Interest rates leads our leads our global report today as the Federal Reserve unveils an expected quarter point Interest Rate cut the 2nd in 2019 after 2 days of policy meetings a federal open Market Committee of the u. S. Central bank said it would lower the target rate for the benchmark federal funds rate to between 1. 75 percent and 2 percent in a policy statement the fed Committee Reference quote the implications of Global Developments for the Economic Outlook as well as muted inflation pressures as reasons for the cut 7 of the 10 members of the f o m c voted for the new policy while the fed was meeting it has been an interesting week for the overnight funding market as Interest Rates temporarily rose as high as 10 percent for some transactions on monday and tuesday the uncommon rate jumps cause u. S. Central bank to rein them in stabilizing markets by wednesday morning. And while the u. S. Central bank makes their latest. As he moves their counterpart in the European Union is mark