Head to pang chayeongchang in a minutes. Were joined by senior Portfolio Manager chief equity strategist bob doll bob, you know, were watching markets this morning sort of bounce around. The s p 500 actually kind of firmly in the green right now. It has been very strong week following that roughly 10 correction where are we right now well, that we bounced i dont think should be any surprise we got the positive technical divergences last week. The surprise is how far and how fast we have bounced its amazing you cant keep a good thing down, i guess. Our view was, you know, 2700 plus or minus 50 s p 500 points and were at the upper end of that now so were going to have to make some decisions here. Were going to have to, i think, pause and do some testing at some point well see what that looks like but this rally this week has been pretty amazing. I agree with you when you say we have to make some decisions here, what do you mean yeah, do we take some money off the table . Do we lower beta
World. You can see a mix picture and generally not bad at all our 10yr note year is moving higher thats stagflation. Give me a stagflation guess and tell me it is the end of the world. Crude continues to sell off a little bit lets get to our road map this morning. It does start with rates shock the question of course is it going to prompt the feds to raise rates at a faster pace the report says futures are at a lower market thatll be three Straight Days gains right new. How about this taco bell turn around the core rate minus food and energy rose 3 thats the biggest increase in a year data shows retail sales fell unexpectedly in january. They were down. 3 and thats the biggest pull back we have seen in 11 months. All of which leads me to you and what you think about this and what it means for our market and not just today right any negative or positive is obviously going to be radically in flamed by the vix issues. We know there is hold the line on 10yr we are going to really panic and
Korea. He sat down with Gold Medalist chloe kim. That conversation is am coulding up in just a few minutes so stay tuned. Thats going to be super fun. All right. Now to the extreme market volatility less funneled which has been a global phenomenon as well for more on whats happening here and abroad, were joined by stephen roach, former morgue an stanley asia chairman, Yale University senior fellow he warned in december that global economies may not be as resill yen resill yent as once thought. We didnt plenmention that you also an economistist what do you think of the Interest Rates spa spooked the markets. Are they going to go higher or what is your prediction . Well, i think the Federal Reserve is clearly got its antenna up, michelle, given not just one data point on inflation but the fact that the economy has a fair amount of momentum at full employment and lo and behold were doing a lot of deficit spending at the same time which is not exactly the recipe for stable inflation going
Join us here brian levit with Oppenheimer Funds and and evan klein top with charles schwab. Is that the tradable bottom, the collection we were waiting for i suspect it was generally in line with what has happened over the last 30 years, the times when youve seen Interest Rates move up. Typically, the move in rates is around 80 to 100 basis points. It usually happens around 80 to 100 days and the average corrections around 10 . Usually what you see in the 12 months after that are positive returns on market, so i suspect it is the Global Economy looks good, inflation is, despite all the warnings, peoples concerns, is not escalating significantly, so i do think that was a turning point for the market. Yeah, doesnt seem like there was a lot of concern about the numbers that we saw out of the cpi yesterday. Jeff, how long can we watch equities move higher as rates also tick higher at what point does that begin to break apart . You know, i dont think theres a particular point at which it br
Pulling out of correction territory adding to fridays gains following the worst week weve seen in the markets in two years. Christine lagard weighed in from the world government summit in dubai. You compare valuation, you know, from a week ago, theres been a Market Correction off anywhere of 6 to 9 which frankly given where asset prices were very high, its in our view a welcomed correction. And we have observed suddenly despite the volatility the market channels and pipes and mechanisms have worked well. And we also see the financing is still plenty and very much available for the financing of the economy so, you know, corrections happen they were due to happen. And thats where we see it for more, joining us at post nine is citis chief strategist tobias letvowich we have a lot ofthings happen i think the markets were ahead of the skis. Its the olympics. I have to use the winter application. But, look, the sentiment we saw, they have been showing us that euphoric levels have been in pla