Yield moving up to. 4 basis points the vix is below 22. Joining me now is marc lasry. Great to speak with you. Lets begin with the markets. You said 2020 be a onceinalifetime opportunity. Where are we in that opportunity now . Now that the first wave of buying is over, is there another way to come this year . Marc thank you for having me. There is this misconception that we have missed it. We have not missed it. Is doing really well, and that is fabulous for equities. But you have a Record Number of companies that have already filed, and they are continuing to file. It is a world of haves and havenots. Us, we are finding quite a bit to do in the u. S. And around the world. We will get to everything that you are doing in a moment, but what do you do if you feel like buying but you know it is probably not the time yet. Do you have a forecast on when we are likely to see more pain . Marc i think now is a great time to buy. You dont want to time this. In want to be able to invest situation
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
S p 500 higher. Groups leading gains include stayathome stocks, consumer services. Oil after inventory close to 41 per barrel, big drawdown way more than anticipated. The 10 year yield up. The dollar index continues to weaken. Plenty of strength in euro. We will talk Canadian Dollar in 10 of 1 after the decision from the central bank. Ministers agreed to boost oil output. This will be offset by members that did not fulfill commitments in june, such as iraq and nigeria. The saudi minister sees a ceiling. Ellen, this was the deal agreed to by members. Will that have any impact on members for those countries so dependent on china . Ellen that is a huge question. According to the saudi oil minister, not a single barrel will be exported extra in august compared to july. He perceives saudi arabia will consume extra barrels produced domestically and while the price people in saudi arabia pay for oil cost has gone up recently, it is not merely what the saudi government would get if they were s
The nasdaq is up more than 1 . We got the exchequers plan to boost u. K. s economy, boosting sterling. There canada, the dollar is actually weaker and looking like the central bank will have to cut a few more times in order to get that deficit under control. A deficit that is by the way , was 30 of gdp before the pandemic. The mexican president is coming to washington to meet with President Trump to talk about the trade relationship with the u. S. And mexico as they face a deep recession. Joining us is our head of isearch joining us Kathryn Rooney vera, head of research and strategy at bulltick. Tell us about how the coronavirus is ravaging the mexican economy and how bad it will get. Kathryn ravaging is a good word. Mexico is facing the brunt of the epidemic. The authorities have really not come up to the task. They were nonbelievers at the beginning, which has caused tremendous suffering. We know that 50 of the tests taken come out positive in mexico, which is a world leader. That sa
The 10 year yield is seeing a flattening name put on. Crude oil, down 8. 7 . Dive intoa deeper what is going on. Mentiont to commodities. It is across the commodity complex. Copper futures are down. Grim Economic Outlook from the fed yesterday, plus a possible resurgence of the virus here in the u. S. You are seeing one commodity higher, that is gold. Up 8 10 of 1 . The dollar is also stronger here. A weaker dollar is a proxy for risk appetite. But the dollar is indeed gaining 8 10 of 1 . Investors are looking more for safety, less interested in risk assets. There is a lot of conviction in equity markets in particular. At the open, we saw volumes basically double over the past 20 days or so. We are still looking at volume over 24 above the 20day average. A lot of conviction in the selling we are seeing. We are seeing the cyclical rotation we all have been so excited about in recent weeks totally reverse quite dramatically. Industrials, financials, materials are the biggest laggards. Tr