Looking at this morning. We believe these early indications have bounced, is it showing signs of stability . Its tentative. Being oversold, which is just a measure of how far and fast the market has gone down relative to its trend is just one of those ingredients. It is a precondition for maybe finding our footing. After yesterdays close, the s p 500 was basically oversold as it had been back toward march. We did have trading lows. I still think youll need to see bond yields sustainably calm down a little bit. We cant have this sense we have this disorderly rise in yields. The market is trying to reckon what that means to me for the economy. I dont think its a straight compute the valuation of equities rel to bonds. Its more can we handle what rates are throwing at the economy. The s p 500 down 6 from its high, peak to trough yesterday. The average stock down 8 to 10 . Its getting toward a proper correction. Theres downside in the s p, another 3 , 4 , Something Like that. I think my co
It is better than the nasdaq which is down by 3. 5 for the week. Dow down 1. 5 . Yesterday was a rough day. It was yields. The next board that we will show on the back of everybodys minds. Investors. Normal people are not saying oh, my gosh. 30 more basis points. We are sitting up and taking notice of the 10year treasury now. How low we were for a long time with the backtoback crises. Right. If you look at the steep curve, that tells the story from the lows. The 2year treasury is the same story. Japans central bank maintaining the ultra loose policy. Bank of japan citing uncertainty with the economies and Financial Markets at home and abroad. This is a big deal. The yen has been vehweak. There have been expectations to raise rates. Governor euda indicated that would be the case. As soon as the end of the year, they would talk about finally ending negative Interest Rates. That has taken place for a long time. Yesterday, ashley spoke with the Prime Minister of japan. We will show you tha
Vietnam war is about americans. Sreenivasan and its friday. Mark shields and david brooks are here to talk Hillary Clintons election tellall, and President Trumps deal with the democrats. All that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. The ford foundation. Working with visionaries on the frontlines of social change worldwide. And with the ongoing support of these institutions and friends of the newshour. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Sreenivasan British Police launched a major manhunt after a homemade bomb exploded on a subway train in southwest london. The Islamic State group claimed responsibility, and the British Government raised the threat level to critical, meaning another attack could be imminent. Paraic obrien of independent Television News
Vietnam war is about americans. Sreenivasan and its friday. Mark shields and david brooks are here to talk Hillary Clintons election tellall, and President Trumps deal with the democrats. All that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. The ford foundation. Working with visionaries on the frontlines of social change worldwide. And with the ongoing support of these institutions and friends of the newshour. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Sreenivasan British Police launched a major manhunt after a homemade bomb exploded on a subway train in southwest london. The Islamic State group claimed responsibility, and the British Government raised the threat level to critical, meaning another attack could be imminent. Paraic obrien of independent Television News
Magazine. I have been there for 33 years. It seems like ive known you for at least 20 years. It does feel that way. So, lee is my closest friend at fortune. Full disclosure. But you can still ask me tough questions. This will not be edgy or challenging so its up to you to ask the challenging questions, the really tough questions i was flattered when i was in the middle of the airbnb story when she asked me if i would do this tonight. She gave me incentive to finish it. [laughter] the book is great and we expect all of you to read it. I was a big fan of her first book, the end of the suburbs. That is about the movement from the suburbs to the city of people, companies and money. This airbnb story is kind of a natural for you, as a followup. How natural was it and how did it come along . A lot of people after that. Thank you to the core club for having us here tonight in this lovely room and lovely setting. Its really wonderful. Thank you. And thank you patty. The way i came to this idea