Washingtons partisan battle. Joining us now is bloombergs chief content officer marty schenker. Many people thought this was an inspired choice. It ticks so many boxes. Just your sense of what this means for how washington is now going to operate. Martin i wouldnt describe it as necessarily inspired. It is an inspiring lee safe inspiringly safe choice because she is so wellknown on both sides of the aisle. I think she will have a relatively easy time getting confirmed. She is a traditionalist in many ways. She has been at the fed. Shes been at the white house. Shes a great believer in consensus. I think that is what you are going to need with the incoming treasury secretary. Alix nonetheless, it is the first woman treasury secretary, the first woman to lead the fed. This is definitely in that respect a boulder choice. However, how do the progressives feel about her . Marty i think they are very supportive. There is reporting out there that Elizabeth Warren was the person who recommende
Again. Senate Majority Leader Mitch Mcconnell failing to concede the election to joe biden just yet. The fed put out a warning on asset prices. The rally to a two month high. Since the highest levels 2018. The index at a record high. So much to really chew over. Joe such a wild start to the week of course. Digesting the election, the light at the end of the tunnel. Here is a chart. It is a number. But here is a pair. This is one of the favorite pairs of neil over at renaissance macro. To bike atot need home. There you see the entire story of the day, those two numbers. Romaine someone else made this for us, about vacation time. A big part of enthusiasm today is that we will finally all get out of the house and go back out to restaurants and, more importantly, to travel. The Consumer Confidence index tracks intended vacation. You can see that basically dropped off a cliff. Still has a pretty long way to go. I thought this was interesting. Earlier on this up the other show that we host w
Republican leader Mitch Mcconnell says President Trump is right to protest the vote cap. The u. S. Sanctions more people in hong kong over chinas increasing control. Washington has suspended its treaty with hong kong and ended reciprocal treatments on shipping. Haidi lets take a look at this market situation we are setting up for. It is firmly risk on after all the really bullish view overnight on account of the high efficacy from the biotech vaccine. Asx 200 trading higher by 1 10 of 1 . It is a handful of asiapacific markets there is or going into overboard territory. One of those is new zealand. We are seeing kiwi stocks of about 9 10 of 1 . We have the rbnz decision ahead of us this week but that market is up now for six consecutive sessions. Nikkei futures reversing pretty dramatically at the moment. Above looking at opening 25,000 for the first time in 30 years. Trading at thell highest since november 1991. A quick look when it comes to u. S. Futures as well. S p active futures u
Unchanged policy. Coming back from the typhoon slower by 116 points. We are talking about hsbc, one of the laggards here, missing out. The largecaps under pressure, 4819 right now. We are looking. When it comes to dollar dynamics, we did see a stronger dollar, which led to a hit. 379 right. 7 now. The china 10 year yield, we just got the pricing on the dollar bonds. Gold taking a retreat. Brent crude Holding Around 42. Tom lets bring you back to the top story in this region. Xi jinping will bring a major policy address later, in the next 20 to 30 minutes or so. Across the border in shenzhen, to talk about an integrated tech corridor to rival silicon valley. Stephen engle is following the story and joins us from hong kong. Steve, what are you looking for in this speech . Stephen i am looking for a better tagline. They are calling this a chinese socialist pilot zone with chinese characteristics. I think the greater bay is the grander scheme. And xily china wants to jinping with a trip so
Poweris more left promises. Longerterm there is uncertainty. And how these actions will affect real people and real purchases and real jobs. Bornhe new economy is from the crisis but it could leave some markers behind. Moreneed to think creatively about inclusion in the workforce. There is a discussion from the decisions made during the crisis and the longerterm ramifications. Get a lot of this can theoretical the connection between the fed approach and the framework and what actually happens in the real economy. Lets first talk a little bit more about these projections for the Federal Reserve. I think one of the key things is, you know, look, there is improvement. Byy see gdp only shrinking 3. 7 , they see unemployment at 7. 6 is sent, extremely elevated we were at 3. 5 going into the crisis most importantly there, inflation still nowhere near their goals. That is a big part of the reason and i think, romaine, youll be looking at why they see themselves at the factor zero rates for se