We have seen strength. It has reached 690. That could mean a path to a level not seen since january. The hang seng up 1. 5 . Take a look at where we are in terms of emerging markets. They are trading higher. 1 shy of a recent losses. The kospi is up. The south korean assets will be watched today as it is expected to stoper restrictions a flareup. Gold down to 1943. Lets get to first word news with Karina Mitchell in new york. Karina President Trump is welcoming a coronavirus treatment that involves blood plasma from corrupt recovered patients, saying it will be expanded to more sufferers after the fda approved its use. This makes it easier to make it accessible. Even though its full effectiveness has not been proven. The fda has concluded the treatment is safe and works. Virushas marked a grim milestone topping 3 million infections as the outbreak accelerates. New cases rose by 59,000 sunday with 57,000 people having died in total. South korea is considering imposing tighter Health Res
U. S. . Moving on to some currencies, dollar weakness is still a trend at play. We are seeing that play out for the offshore cnh strengthening at around seven. In terms of the yen, 106 is the crucial level for that. Higher option volatility. In terms of hong kong, we are focused on the newtek tech index as part of the conversation. Aussie dollar currently up. 3 . Dollar weakness very much part of the play there. Lets look at what is happening with gold. It has been on a tear, and we are getting close if not touching now record highs. Gold futures above those record 1944, close to 1 gfain gain in terms of futures. I believe the record was around 1923. Looks like we are about 1 or so away from that record price. Its 1923 or 1921. Anyway, we are edging close to that record price. Weakness. Lar silver gaining close to 2 . The 10 year in the u. S. Yield is a little below 0. 6 . Rish. Rishaad were going to bring in banny lam. Welcome to the program. We just outlined, at least tom did, outlin
You from the bloomberg terminal. American contagion. The u. S. Records its biggest ever jump in new virus cases. Governors reverse plans to reopen their states. Powell puts his foot down. The fed dividends bid buybacks. Buybacks amid uncertainty around the pandemic. Wall street giant slide in late trading. An elaborate fraud. Auditors accuse them of a sophisticated scheme to hide billions of euros. Visa and mastercard consider cutting ties. Just under one hour away from the start of cash equity trading in europe. Lets take a look at the futures as they are trading now. Yesterday, we closed slightly in the green. The u. S. Also rose and rallied into the close on news that banks would get a little bit more room from regulators to trade and be able to use more of their capital buffers, so diminishing the volcker rule, helping in the u. S. European futures are up as well as we get headlines that klm is securing a 3. 4 billion euro bailout from the dutch government, so we see more hope of s
Division. At 114 per pound. Not much really you can say. Euro sox reversing. Euro stocks reversing stop euro stocks reversing. Won, ok as far as these are concerned. Korea, crash landing on you. It is amazing how the 10 year right now. Years. Level in 18 7 . T crude down 23 . About rakinglking below 60. Mark, help us put sense into what is happening. Things we were talking about is the process of exposure. N reducing the have been looking at some hard numbers and just in the last three days, bonds and equities are out. Open interest has fallen to the equivalent of 150 billion in the futures market only gives you a snapshot. Withve derivative market 150 billion multiplied several times. That gives you an idea of how much had been going on just in the last few days. That is partly why we are seeing this incredible movement. These movements will add to that picture as well so you can see the move towards cash is really ever. As a Silver Lining here . When i look at crazy price action, alm
President , Robert Kaplan. Why one person sees i think we can but it was one of commodity exposed risk currencies . Zach not necessarily. The main reasons why it was that is what we saw the first appropriate we take action this time around when the virus was week and why we are very opportunities. Treated by investors as a china lets check today on the carefully monitoring the shock. Situation. Monetary policy is not the lead something that was concentrated policy option in this situation. In china and therefore negative for commodity demand. We need Good Health Care now the virus shock has gone global. Street, down today, arresting western europe, north america, yesterdays gains. Policies, containment policies. Both dealing not only with the transportation index is it is possible fiscal policy spillovers from china but direct will play a role. Enough fair market. There may be forbearance effects from the coronavirus outbreak itself. Policies from a supervisory that makes the currency