Earlier today, less than five points from the s p 500 taking on a new high. Not quite making a mark at the close. It is worth noting, the brutal shownbeneath the s p 500. Y that 200 Day Moving Average if the s p 500 cap climbed higher, we could see more choppy now,ng, but 20 up right on pays for the best year since 2013. For me, it is about the bond market. The 10 year and thirtyyear year yields rising five basis points, meaning that twos and yield curve is steeping, a five or six level. Today we are getting that classic risk on fuel with yields rising, steepening that curve. The trend has been different if we look at a weekly view. Come into my terminal here on tlt, longduration third this on news the Largest Bond Fund flows, the highest level going back to since april, so tot now has a record amount of shares outstanding, highlighting in the past week or so, huge demand for highgrade bonds. It feels like people have been predicting the next recession basically since the last recessio
supermarket stake out his back with take before it gets well emotion. i m going to cry. supermarket state tuesday. i didn t nine on food network cnn, breaking news good morning. you were alive in the cnn newsroom. i m jim acosta in washington. we do have breaking news at this hour at any moment, the supreme court is expected to release opinions that could have a profound impact on american lives and american democracy. we re standing by for what could be one of the most consequential rulings in us history. assertion justice gorsuch calls a quote rule for the ages. the question whether a former president enjoys immunity from prosecution and is in effect above the law that ruling could drop in just minutes. we re also waiting a number of other major decisions from the justices among them, a case challenging the prosecution of january for each six defendants. that opinion could throw out some of the criminal charges against donald trump, plus just days after the two-year a
We start with the big issue, dalios warning resonating from davos to new york. A 1 rise in bond yields will produce the largest bear market we have seen since the 19801981 period. Are we in it . There will be a time of the bank of japan and ecb begin tightening. That will be the time when bond yields increase. I dont see that now, unless im wrong on inflation. I dont believe the Federal Reserve will tighten before suggested. I dont think the bear market is starting. Since 1990 we had many, many predictions but it has not happened. Lisa joining me in new york is Subadra Rajappa, and rachel , and coming to us from london is Luke Hickmore. I want to start with you, subadra. Forthe selloff just begun, is this the extent of it and will people pile back in . Subadra thats a good question. I think there is still more room for bonds the selloff from here. They seem to be pricing higher over the last in the last few months. I think we could probably go a little higher. It depends on where the f
Welcome to squawk alley for a tuesday morning. With john forte and Kayla Tausche this morning, dow, s p and nasdaq all trading in record territory, dow inching closer to 20,000. Starting to ask questions about whether it will bring about some selling. Looking for about a twoweek pull back in the wake of a fed meeting. Well see. The rest of the week will be interesting. For sure. Best s p factor today, dragging behind the rest of the postelection rally. Interesting to see it join the bunch today. Nasdaq hitting a new record early this morning. Nfib Small Business confidence soaring after the election, which a lot of investors are parsing through today. Bill gates seems to think that stocks are a little expensive. He knows a thing or two about finance. Going to get more from him in this show. He spoke to our becky quick earlier this morning. Nike, of course, the dows biggest laggard of the year is today the Top Performing dow component. Well see how long that dynamic lasts. Meanwhile, ne
The last time it was reformed was 1986. Years is0 years or 31 enough time for the old tax code and now its time to update agreement with the problems on the tax code. Theres a lot of complaining about that. Host what would the republicans say is the chief problem . Guest they would probably point to high marginal tax rates, high burdens of class on the middle tax. Not all of their claims are correct but this is what we hear from them most of the time. What the keytold strategies they are going to employee is consolidating the tax rate. What are those three and why are they important . Guest the house gop plan the trump proposal keys off of the house gop plan. They consolidate the three 12. 5 , 25 and 33 . In terms of tax policy there is no particular rhyme or reason to what rates you choose or the number of brackets. These are the ones that are in the plan. Who falls into those brackets generally . Guest the code overall is going to be less progressive. Top bracket of 33 is going to be