By thursday we were down better than 20 from the february highs. That is definition of a bear market. The dow alone, down 10 on thursday that was the worst day since the 1986 crash and black monday. That left traders unsure how to handle the virus impact and questions abound about how slow the economy will become . Are we in a recession right now right now is a boston group chief officer david monson is here, joining us this weekend with 2 billion in Asset Management and eve got the ceo of van ecks, 51 billion in assets under management 80 of funds great to see both. Thank you so much for joining us. What a week, david lets kick it off with you. What did you do, were you caught flatfooted with that 2000point selloff on thursday quest mark. Thereto answers on that, i feel we are caught flatfooted in their sense of theres absolutely no time to react not just this week but over the last weeks. It is the unlike 20,072,008 and surly not like the 2002 bear market. This came so quickly and so
By thursday we were down better than 20 from the february highs. That is definition of a bear market. The dow alone, down 10 on thursday that was the worst day since the 1986 crash and black monday. That left traders unsure how to handle the virus impact and questions abound about how slow the economy will become . Are we in a recession right now right now is a boston group chief officer david monson is here, joining us this weekend with 2 billion in Asset Management and eve got the ceo of van ecks, 51 billion in assets under management 80 of funds great to see both. Thank you so much for joining us. What a week, david lets kick it off with you. What did you do, were you caught flatfooted with that 2000point selloff on thursday quest mark. Thereto answers on that, i feel we are caught flatfooted in their sense of theres absolutely no time to react not just this week but over the last weeks. It is the unlike 20,072,008 and surly not like the 2002 bear market. This came so quickly and so
Before rebounding to finish up almost 5 , recouping half of the losses from mondays 2,000 point selloff. Jim, remember when we couldnt get a 1 move la last 12 sessions, s p moved 3. 5. The market feels broken to me not a lot of liquidity many things happening at night youll see the Interest Rates go down at night. Then suddenly the s p is having a nightly session. We have to play by that tune i get it theres i want to say theres not panic. People want to get out if there were people, you would see endless downing endless down you could say buyers will come in i was listening to jim paulson before, he sees a lot that he would like i dont. You dont no. I like utilities i like the drug companies, i like the highest growth tech, teledoc. The rest sell to you people are buying Royal Caribbean right here as if its like a buying opportunity. A lot of people using the term buying opportunity, b. O. , for things no. No, to b. O. As you might expect, people are focusing on the credit markets and
By thursday we were down better than 20 from the february highs. That is definition of a bear market. The dow alone, down 10 on thursday that was the worst day since the 1986 crash and black monday. That left traders unsure how to handle the virus impact and questions abound about how slow the economy will become . Are we in a recession right now right now is a boston group chief officer david monson is here, joining us this weekend with 2 billion in Asset Management and eve got the ceo of van ecks, 51 billion in assets under management 80 of funds great to see both. Thank you so much for joining us. What a week, david lets kick it off with you. What did you do, were you caught flatfooted with that 2000point selloff on thursday quest mark. Thereto answers on that, i feel we are caught flatfooted in their sense of theres absolutely no time to react not just this week but over the last weeks. It is the unlike 20,072,008 and surly not like the 2002 bear market. This came so quickly and so
Now. Maria we want to check Global Markets this morning, european indices all over the place this morning following the u. S. Central Bank Stimulus package. London shut down, some of the mass transit lines in an effort to contain virus. Ftse 100 is down 12 points right now. Dax index in germany right now up 21. In asia overnight it was red across the board. Take a look. Korea getting hard hit down better than 8 overnight in korea hitting levels not seen since 2009 even as coronavirus cases are dropping in korea. As you see the other majors are also weaker. Lets check the oil markets now. Seeing a rebound this morning after 18year low. As you see oil prices bouncing 250 a barrel at 22. 87 a barrel. Yield on the 10year treasury hovering above 1 . Yields are bouncing once again 1. 92 on 10year. Investors certainly gearing up for another wild day this morning in terms of volatility. Lets check futures. We are expecting another tripledigit decline. The nasdaq is down 35 and s p 500 weaker b