High of the day. Futures were limit up. Westart the session started the session up more than 5 at one point. Only a few days ago, we were wowed when the tenure went through 1 . It is hoping to hold know that it is approaching 1 again. The dollar stronger today. Below 107 on the yen, 106. 94. We will be speaking with john taylor of Stanford University in just a moment. Guy this doesnt even feel like a dead cat. It feels like a dead kitten. The equity markets are bouncing, but not much. Europe is off its session highs. Relative to4 , but the biggest move ever to the downside yesterday, that doesnt feel that impressive. Trading at 307. A lot of action in the german 30 year. You are seeing bid offers tightening up a little bit. Thats good. Liquidity may be starting to come back. That was certainly a focus for the fed yesterday. What is interesting as well, the bdp market is on offer again. We started to see yields coming back down again after yesterdays christine lagardeinduced move. That
World, gaining. I want to focus on the 10 year yield. The fed announced yesterday some repo operations, announced again this morning they will buy some longer dated maturities. That is not helping the treasury market given the risk on feeling. Youre getting a lift up in yields higher, but the good news is the vix is coming down a little bit, which makes us all take a little bit of a sigh of relief. Take a look at this chart. It can get a little become located. The blue line is today. The white line is what happened in 1929. We are looking at the amount of days you are seeing 4 moves in any given direction up or down. The last time this happened was 1929. David how about that . A fateful year. We are now joined from newton, massachusetts by former u. S. Treasury secretary and Bloomberg Contributor Larry Summers. Thank you for being back with us today. We are going to hear from the president at 3 00 this afternoon eastern time. What would you like to hear from the president of the United
It is still up 1. 9 , but bit by bit we are lower across the globe spirit still positive for most of the groups. We are a racing that massive gain of earlier today. The 10 year down a few basis points. We are awaiting the fed action at 1 30. We will see what happens out of that. The dollar index continues to be strong. The euro is weaker, so his british sterling. We are even seeing massive moves for the yen today. Crude oil is down. 2 . It has a its gain as well. Guy the World Health Organization now saying europe is the epicenter of the coronavirus outbreak. You can feel that a little bit in terms of some of the price action today. The stoxx 600 is positive, it is off its lows. A few moments ago the dax went negative on the day. This is not a convincing rally. It is of course friday. You want to carry positions across the weekend . We are seeing a considerable move when it comes to what happens in the bond market. By 17 year is higher basis points. You are seeing a similar move at the
Russian tax fraud. Europes top table. Eu parliament votes to confirm new commission has today. We will be live from strassburg all morning and we will be speaking with the Incoming Commission president , ursula van der leyen. Lets look at those futures. We have quite a positive picture coming through in the futures right now. European markets expected to go in little bit higher at the start of trade. Fresh alltimed highs on the s p 500, the dow jones, and the nasdaq in yesterdays session. It is easy to see why stockmarkets are going to head upwards from here. These are the futures as per europe. Lets show you what the u. S. Story is. We have had these lines from President Trump saying a trade deal is in its final throes. We continue to see upside for u. S. Stocks but not perhaps by as much as the european futures are suggesting. You see quite a broad picture of green coming through on the equity page here. We have money going into equities and sovereign bonds. It seems this rising tide
Bit despite news of increased inventories. For the global exchange, where we bring you market moving news from around the world. Are bloomberg voices are on the ground with this mornings top stories. Da tart with e curran. Had positive signs since sunday, when the government said they would push through new oversight of ip protection, and they want to punish those who are guilty of ip theft. That was followed by some details in one of the state newspapers that china is also looking at the oversight of any trade agreement with the u. S. In ways of ensuring that any deal isnt limited. Then we had the news yesterday from the Commerce Ministry talking about reaching consensus on core issues. The moonbeams it is been nothing but positive in recent days, matching what is coming out of washington, though we dont yet have any further details on when or if an agreement might be signed. We have your minder did have a reminder on the economy when profit for industrial firms dropped almost 10 from