At their highest level ever. But the best trade may be emerging far away. The eem is far outpacing the s p 500 over the last three months a nosedive in the dollar it is at its lowest level since april 18 is it time to rotate out of the u. S. And look abroad for the next big trade, tim . It seems like it could be a rerun of creating a globe. These are dynamics we havent seen in a long time. If you look at where the dollar is if you are investing in emerging markets, the currency is at least 50 of your return profile and high yielding currency is a driver of this reality but its the turkish and african moneys the blowoff top was around 51. 75. I think you have rates moving higher, but normalizing. Normal high rates for em arent good if you look at the source trade and things moving around the world, some of this is about a global recovery. In some sense at least, the u. S. Dollar and rates will stay lower for longer and thats fantastic for the rest of the world. We may be in the depths o
Trillions from washington, more printing by the fed, that is a shot in the arm for stocks. Look at this, the dow industrial is going up maybe 300 points plus at the opening bill. The s p up 33, nasdaq up close to 100 points. Investors are really shrugging off the new round of stay at home and lockdown orders. And restrictions, were new ones in new jersey, ohio and california. And, yes, another case of lawmaker hypocrisy. L. A. County supervisor sheila are cool voted to ban Outdoor Dining at restaurants and then promptly went out for an outdoor meal at her favorite restaurant in santa monica. Youd think theyd learn, wouldnt you . Weve got a big show for you. Were going to introuse you to monetary introduce you to monetary theory. You dont pay for anything. Youll meet the man who declared an autonomous zone around his bar. Now, that is defiance. And youll meet the california guy who is flipping burgers on the sidewalk because they shut his restaurant down. And today, yes, we have got a T
Airbnb expected to go public this week. Analysts saying it will surprise above its target despite all the headj winds the travel industry is facing. Well explaint iwhy ase xdp lunch starts right now. Thank you, ty the dow pullingqback but still above 30,000 only six dow stocks are higher right now. Teq apple is one of fthem the dow industrialso so far today as well as theee nasdaqe pos t composite and russell 2000 each have hit a record high intra day despite the fact the the dow is lagging, only up 5 and 13 gains over here for the Overall Index for the russell 2000 look at other parts of the market were also watching as well look at the semiconductor. Dze cord highsf pushing the semiconductors, possibly a leading indicators for the rest of the markets and another set of record highs tesla. Billion, would make it close to around the sixth biggest stock in the s p when it eventually goes in. That happens before the open of business on december 21ste1. And perhaps Short Co
Now on cspan2s book tv. Television for serious readers. Hi, everyone. On the executive director of the Harvard Law School library. I can vaguely see you in the distance. A great lineup of authors, we are super excited to share the work we do. I just want to share a few housekeeping items. We are recording this talk and will post it on our Youtube Channel next week. I hope you will check out online to find out more. Thank you for the support for this Book Talk Series and a big thank you to our team, parker and teresa for helping put this together in this remote space. We welcome your questions and we invite you to use the q and a teacher throughout the talk. For our sponsor. I encourage you to local bookstore, visit the harvard life very library. It is my great pleasure to introduce the Robert University professor at harvard. Director of the program on the economic Public Policy possible. In 2019, the pies from the government of norway, sometimes described in the equivalence of the nobe
Details on that coming up. Its a foggy start in spots. Be careful as you hit the roadways. May be dealing limited visibility and you are dealing delays already for your drive into the pass. Super commuters gear up you have brake lights out of tracy. Extending onto that connector to 580 all the way to north flynn. We are seeing a lot of red. A busy ride for your Tuesday Morning ride. Things moving okay at the dublin interchange. Its 34 minutes for the drive time. Westbound over to 205 toward 680. Bay bridge toll plaza. No mooterring lights. Very quiet out of the east bay into San Francisco and the san mateo bridge. No delays between 880 toward 101. Live news desk. Voting has started on the east coast. Lets go live right now to tampa, florida where people have been lining up and votes are already being cast though our live picture looks a little on the slow side. A lot of polling places are very busy right now. They are starting to process the early votes as well as they have been in flo