Welcome to squawk alley. Were at post 9. Jon fortt has the morning off. Were watching the markets after yesterdays selloff. Average. Announcer pressure following the second worst day of the year for the dow and s p 500. Nasdaq coming off the third worst day of the year and on track for the first four week loss since 2016. Bob pisani watching all of that on the floor bob . The question is are the markets in trouble here . The answer is not yet. But there is some cracks developing so weve seen something in the last two weeks we havent seen in a long time a selloff last week and another one this week. Thats starting to do some technical damage several elements have really come together. So first, theres leadership doubts about President Donald Trump emerging and the ability to get tax cuts through. Traders have been alarmed by the dramatic decline of the small cap rustle 2000. Its down 7 from the historic high about a month ago so its now flat for the year. With the s p 500 up 8 for the y
From thelso hear former ecb president. Europes Economic Performance under the microscope. Looking at how costly of brexit could be for investors. And the latest on from versus clinton. Lets started off with the rush into Government Bonds winding no reversing today. Where we are with prominent investors and where we might be going. Was here, which brings the question if we are with heading into negative territory in the u. S. . We are seeing record lows, as. Ou say to fea everybody is buying bonds. If everybody is in the same trade, the potential for disaster decides to get bigger and bigger. Bad job report, you buy treasuries. Find a safe place to park your cash until you know what is going to happen. Moving intorybody the bond market, short term paper is becoming more expensive and harder to get. Investors are being pushed out the yield curve. We have the impact on longerterm bonds. The citibank macro risk indicator, how concerned people are about where things are going short but thel
We are in for eric and stephanie and they will be back with you tomorrow morning. We have breaking news coming up on housing. Lets get to julie hyman who was in the newsroom. Julie the pending home sales for the month this shows some progress for the housing recovery, especially after we did not have a strong number. Again we were estimating that 1 gain and that was the average of the economist we surveyed. The advance in february with about 3. 1 percent, so it doesnt really slow down from february but it had a worse than estimated number. Remember in terms of Economic Data this morning, this adding to the gdp figure that we got earlier that showed only a 2. 10 a point to gain in the First Quarter. Revision downward and coming in worse than economists had predicted. It seems a most economists are looking forward at the balance of the year and this pending home sales might give them a little more optimism. Back to you guys. Matt thank you. Time for the bulletin and the top business stor