Is fundamental to the government who is concerned about the economic fallout. Im Tom Mackenzie in chatham in square where china is celebrating 70 years of the peoples republic and communist party rule. Paul just want to get you to some breaking news out of south korea. We have Consumer Prices for the month of september. They are coming in weaker than expected. Cpi on year declining by 4 10 of 1 . Readingfollowing a 0 in august, which up until today, was the lowest reading in history. Now we have a new low. A contraction in cpi of 4 10 of 1 . That is the first drop on record. Auth korea is not facing deflation according to the finance ministry, which made comments moments after the release of these figures. We have oil prices weighing on the picture and south korea. The bank of korea has reduced its inflation forecast to 7 10 of 1 from 1. 1 . Well short of the 2 goal. This contraction in cpi two 4 10 of 1 sort of adding fuel to the idea that we might see the bank of korea cut ranks rate
Welcome to mornings on 2, it is sunday, august 18, along with clotting, i am frank, we have rosemary to tell us about what should be a good day i guess. Camp temperatures continuing to cool down. It was nice today over areas towards the oakland as game. They one. It was a great one. We will continue to see the cooling trend. Today is expected to be the coolest day. As we get into your work week ahead, temperatures slowly rebounding. Outside our doors at this hour, what a beautiful view there. We do have a mix of sun and clouds once again. We do have partly to mostly cloudy skies right along the coastline. Temperatures are expected to be mild as we get into your afternoon today, if we can actually take a look at whether one guidance at a for the two, there you go. Are the clouds along the coastline and inside the north bay, over the east bay as well. Temperatures are within a few degrees of where we started yesterday, we are cooler in areas. 53 degrees to start your morning in napa. In
Brian sullivan is reporting live for us from hong kong today. He will join us in a few moments. Behind me you can see the dows action from yesterday shedding more than 800 points for its fourth worst point drop on record, closing down by 3 or so after yesterdays historic move, here is how your money and the Global Markets are setting their day up today stock futures indicating the dow will open higher some stability brought to the markets. Interest rates are a huge part of that market story the dow jones up by 136 points we lost 0800 yesterday. Yesterday we saw the socalled inversion of the yield curve the twoyear treasury note and the tenyear treasury note yields, this means shortterm bond rates are now paying more than longterm bonds, historically this is considered a possible recession warning sign and new overnight, the yield on the 30year treasury, the long bond in the United States, dropped below 2 for the first time ever. You can see right now currently 2. 016 that move lower, a
Some scratching their heads. It is thursday, august 1 au starts right now. Sno its a brand new day. Cheryl welcome to fbn a. M. And good morning. I am Cheryl Casone. Lauren good morning, im lauren simonetti. Are you feeling calmer this morning . Cheryl well, a lot of pepto bismol yesterday. Futures are actually moving weve seen this almost every day this week. Youve got a big selloff and the next morning in the futures market you get a boost or vice versa. Right now were seeing green arrows, the dow is up 113, s p up 15 and a quarter and nasdaq up 37 andahalf after that 800 point selloff yesterday. Lauren and what caused the 800 point selloff was when this happened. If you look at the yield on the two and 10 year treasury bonds, they inverted yesterday for the First Time Since 2007. It really spooked investors. Taking a look right now at both spreads, they are very, very narrow. Cheryl were going to take a look at oil. There was a big move in gold yesterday. Oil is still the story. The
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