Were decoupling 2. 27 . 30year at 3 . Fiveyear at 2. 6. And i go through all of those to highlight the yield is steepening and continues to do so. Global yields, this is getting interesting. Italian tenyear, 2. 21 . Its moved 18 basis points in a day. You see the biggest weekly rise, oneweek rise for the italian, german and french tenyear yield, we have seen it happen the highest in years. How long . 30 years. But all the strategists said probably five years four or five years ago we were wait iin. Here we are. What was happening the entire time that rates were not going up . We were sub2 . We were stuck in the muck, basically. The greatest thing, i mean, to see the stock market hitting new highs while rates are surging, if youre at zero on rates and sooner or later you have to normalize, if rising rates are going to move into financial assets, you have a problem with stocks going down. Unless you decouple. Rates are going up for good reason, then the stocks go up at the same time. You
Flatter . If it was zero. Ditto for almost all of europe. Hardly anything there. Crude oil at this hour is stronger by 37 cents, 45. 93. That may be because the dollar has taken a breather after its rampant run. It was one market that just kept going and going. Today a bit of taking the edge off. Carl icahn warns that the strong rally in stocks since Donald Trumps election might be overdone. Even more overdone than the overdone market that hes been warning us about for the last six months, maybe the year before that. Ive known him 20 years, hes been warning me for 20 years about the market. Speaking at a conference yesterday, icahn says investors can expect trump to help fix washington and improve the state of the economy. Icahn has been a strong trump supporter. He said he bet about a billion dollars on u. S. Equities after leaving trumps Victory Party early last wednesday morning. Thats interesting. Before the election how many times have we had this as a headline . I stand over ther
Jpmorgan agrees to pay 264 million to setting charges that it bribed chinese officials. The stock up about is . Weekly jobless claims falling to get this, 43year lows. And apple has reportedly asked manufactures into looking into making iphones here in the u. S. A. Hello and welcome. Lets welcome in your copilot for the next hour. David winter. Ceo of winter green fund, one of the worlds east investors. If you like etf and index funds, listen up. They may bring interest regular sear why they may be more expennive. Janet yellen making big headline on capitol hill. Steve liesman has that. Seems like about a week ago, but this morning, we got good economic data. A little less inflation. That adding to the outlet for gdp. Our rapid update, which brings together the forecast from the street, tacking estimates by. 2. Now, its. 6 were tracking for the fourth quarter. Early days, lots of data yet to come, but right now, were running 2. 6. s look at whos Goldman Sachs running near 3 at 2. 8. Mo
1997, down 1. 75 . So the selloff in bond market has been real. The 30year yield back above 3 . 10year at 2. 30. The fiveyear, 1. 7, and twoyear at 1. 035 . The nikkei closed higher by a half percent. European equities at this hour, lower. Not by a whole lot. Except for italy and spain, off by more than 1 . Crude prices are mixed. Lower by 7 cents for wti. Look at the dollar, which is stronger once again against the euro and the yen. 14year high for the dollar index. 1. 06 is what the euro will cost you. You will get 110 yen for every dollar. Reuters is reporting this morning that chinese policymakers are ready to slow the decent of the yuan so it doesnt fall too quickly. Its 6. 88. That headline sergeauggests thay will let it fall through 7. People saying the important level that could the negative for multinationals to the point that where the everybody is looking for a reason for this rally to stop. Thats another one. I dont employee if that would stop it. The u. S. Dollar index, it
Exactly. I so i dont need to. Im sure theres a lot more viewers who join us as well at 9 00 a. M. Yeah, the ones who wake up after the football game. European markets certainly want to know about jim, they always ask, so we show them. There it is. Thats how were doing in the european markets and of course as we always do well show you the 10year note yield. Thats really been the story. Yes, thank you for saying that. Youre welcome. Approaching 2. 3, were back to where we were last december. Dollars very strong. Round tripped it. Yes. As this year gets towards its close. And theres crude down for the first time in a couple sessions. Last year at this time we were talking about three rate hikes. Its incredible were talking barely about one rate hike. If there was ever a reason why you would want three rate hikes, its the idea you have a president who favors tax cuts and more spending. Yeah. Its a combo we have not seen. No. And he may get. People do not understand how rare this is except