We are watching the hang seng index. Australias market is only higher by 0. 3 . But we had this news that china will allow australias cargo to come ashore. Lets have a look at stocks. Clearing exchanges in focus. The u. S. Approved legislation that could lead to chinese firms getting kicked off american exchanges. Also getting a call from sidney. Tak is down 1. 4 . ,his big surging iron or holding at a record. In recent weeks, weve seen pickup of state owned enterprise default in china that have jolted the credit markets and rattled investors. One company in the spotlight is ever grand, which has accumulated the biggest debt in global real estate. We are joined by Stephen Engle in hong kong. In ournt to bring distinguished guest, the ceo and cofounder of sc lowy in hong kong. A bank and manager that specializes in distressed and highyield debt. Good to see you. You spoke to bloomberg about a month ago and you did talk about ever grand. We know that they have taken steps to increase or
40 billion in mortgagebacked securities. They say the path of the economy will be connected to the path of the virus in the statement. One interesting note at the end. Mary dailey, head of San Francisco reserve president mad to cast her vote as alternate. Minneapolis president Neal Kashkari is on paternity leave. He was into the at the meeting. The birth of their second child happened this week. We think, we believe this is the first time a Voting Member missed a vote because of paternity leave. Back to you, charles. Charles that is an interesting tidbit a lot to go through here. Meantime, folks it is another monster session in the market which yesterday had the best ever postelection session. There should be no question that the worry of a blue wave was the main reason for selling last week. But now the question, have investors moved from abject fear to unbridled optimism a little too fast . Moreover with megagrowth leading the way again, what is the best place to be positioned for th
Investment impulse that American Companies are making right now results from an official policy we are conducting together and which increases the sense of safety. It also increases the sense of safe investment in our country. That means the creation of new jobs in the stateoftheart branch, i. T. Technologies. Im pleased because in poland we have got a large number of excellent young i. T. Experts, young i. T. Engineers. For sure we are able to come to terms with the challenges as far as intellectual capital is concerned. These investments will be benefit for the United States, u. S. Companies and poland through creating jobs and requiring new experiences by young people and engineers. I am also glad because as we said before, the agreements we entered into concerning increased military presence in poland, the agreements we had last year, increased by 1000 troops, and another agreement stipulated locations in which people will be stationed in poland on a rotational basis. Today we are
In negatives, nothing changes there. The latest negative being this fight over control. The president or the governors. That is a distraction from the main event, getting back to work is now job one. Later on the program today, larry kudlow, the president s chief economic adviser, joins us. Hes on the task force. We will ask when, where and who gets back to work. Thats coming up. To the get back to work debate, it largely excludes democrat politicians, shown side by side Bernie Sanders has endorsed joe biden. But all they can agree on is contempt for the president and some bernie supporters are saying now they will not vote for joe biden. The democrats are split. What are they contributing to the get back to work debate . In my opinion, not much. The market, however, they appear to like the idea of opening up the economy. Investors looking to the other side. The dow this morning is going to be up about 400 at the opening bell. Thats a gain of, what, 1. 75 . A similar gain for the s p a
Whether to amend that with a bigger proposal because we all know a bigger proposal is necessary, but ive decided were going to go on and vote as soon as the senate can get permission to vote on the bill that came over from the house, send it down to the president for signature and thus reassure the people around the country that we can operate on a bicameral, bipartisan basis quickly. Second, we will not leave, the senate will not leave until we have passed yet another bill and clearly, that will have to go in two steps. As i indicated earlier, First Senate Republicans and the administration are going to try to reach an agreement on what we think is best for what could best be described as phase three. Then the senate being the senate, we will sit down with our democratic counterparts and see what we can agree to. We will not leave, the senate will not leave town until we have processed yet another bill to address this emergency. With that i will be happy to take a few questions. Repor