Moves down again. Tom im looking for an entry point here. Purves ofael tallbacken make a separation of the equity activity we saw yesterday from bonds, and particularly from fx. Kit juckes said the same thing as well. This is very discrete to the equity markets yesterday. See it with the vix in almost two points some hour or so ago. Some improvement there. Jon i would agree with that. The japanese yen did nothing in the last 24 hours. Treasuries did nothing in the last 24 hours. The question we have to ask, is it just an equity event, or does it raise really serious questions about folio construction from here on . Lisa especially given the fact that people are talking about the death of the 60 40 portfolio. What will act as a hedge if you get a risk off move . This was a nero selloff just as the rally was a narrow rally, as there seems to be a blowing off afteram, a reevaluation things got pretty heady given the is more backdrop of Economic Data we are seeing. Jonathan it is payrolls
That this morning. There are people that have gloom, there are people in in the middle, and there is a sizable group saying forget about it, there is sizable momentum in the economy. We will have to see. Francine lets get straight to first word news in new york city with ritika gupta. Ritika President Donald Trump is moving to ban tiktok and we chat in the u. S. He signed executive order residents barring people from doing business with them. It does not amount to a broader ban of dealing with its owner, tencent. Tiktok says it is shocked by the order and will pursue all available remedies. The u. S. Is looking to tighten workinga president s group on Financial Markets is recommending the sec strengthen auditors, bout in hong kong, plans to offer free virus tests to all residents. The move reflects a boost in Testing Capacity with help from mainland china. There has been no headway between white house and democrats over new virus relief package. The main sticking point, both sides accu
Several areas we consider planes to reopen. Optimistic. Emains treasury secretary Steven Mnuchin says he expects the session to end this year with another Stimulus Program in the pipeline. Paul we are about an hour away from the open here in australia and tokyo. Lets get a check on what we can expect for the new trading day with sophie in hong kong. Sophie asian stocks looking at a muted start this wednesday. This after we sell stock gains fade into the close. Check out what is going on with qe markets. The qe dollar is trading ahead of the rbnz decision. In the bond space, we are seeing five basis points this morning. The central bank of new zealand seen holding pat. That is one of the items on the agenda we are watching with market very much in wait and see mode. Plenty of firepower being amassed in deal space the latest news of kp are having pulled together 10 million. Lets jump into the turn will. The terminal. We could be seeing positive mental for asian stocks. As you can see on
Chinese demand levels almost at precrisis level. Time for todays market moving news from our washington and new york teams. We want to start with fed chair jay powells comments on the economy. In an interview with cbs, he expressed confidence in the recovery, but timing is still hard to predict. Chair powell the economy will recover. It may take a while. It could stretch through the end of next year. We really dont know. Michael mckee, International Economics and policy correspondent, has more. Was there anything new on cbs . Michael nothing really new, just summarizing what we already knew from the fed and from economists and disease experts. He suggested that what it is really going to take is a vaccine before people feel really confident and the economy can start to move back in the direction of where it was before all of this started. He said congress and the central bank may need to do more to keep us afloat during that period. Appropriate government policy could buy time for work
Front line n. H. S. Doctor and dodgy tells us why clapping and charity for Britains National Health Service is just not good enough all the more coming up in todays going underground but 1st last time there was an economic crash major nations bailed out the rich this time around how can we stop the one percent from exploiting coronavirus to enrich themselves at the expense of the rest of us someone who predicted the 28. 00 crash was economist dean baker hes the cofounder of the center for economic and policy research and he joins me now via skype from utah in the usa thanks so much dean for coming on millions with coronavirus hundreds of thousands killed do you see some policymakers actually using cove it to pour money into Financial Services theres been 645000000000 of q. E. Just here for the city of london certainly that is the case and i just try to be a little fair to them in the sense that i think it does make sense for them to try to maintain stability in Financial Markets so tha