That is one thing you might want to know. The other thing i was talking about, and this concerns hong kong, have a look at the hong kong dollar. It does seem that is a big spike up. Dont forget, two things. It is a pet fed currency. We export Monetary Policy from the fed. From them Hong Kong Monetary lookrity earlier, when you at these rate differentials, expect this to start moving towards the weaker part of the trading range. If i take this back to 2004, you will know what i am talking about. Unless the fed continues to normalize, expect the slide to move closer to 785. Into how all of the Central Bank Action we have seen, i am joined out of gapore by mike cudmore mark cudmore. So far, a fairly eventful day, given the fact that we were expecting the fed to do it anyway. What stood out to you . Dovish fed,e seen a a dovish reaction. Some people in the market were betting that with so little priced, it is expectation that there will be a rate hike yesterday, three hikes for the seemed
For a first look at what the republican sales pitch will look like, we welcome kevin cirilli. He has been reporting right through this. Now to how they will sell this to the American People. What do we know . Ago, i was moments speaking with some senior republican aides who tell me that at 5 00 tonight, they will have this house Conference Meeting behind closed doors, and they will have to hash out the details of the continuing resolution. They will have to rebrand their pitch to the American People. Polled say they think their taxes are going to go up as a result of this plan. Republicans are pushing back against that vehemently, the democrats are making the case that they feel this will only benefit the wealthy. Know that and i both they are blaming it on the media, pretty standard move, saying it is all our fault and we are misselling this thing. At the cabinet meeting, the president said it is fake news, fake news. Thewill they make sure American People know what they got and what
Is it too optimistic to expect any sort of deal on immigration and spending . Kevin it is too soon to tell. I have spoken with sources. Wellare theyre very might be the same drama we saw unfold several weeks ago before that holidayk recess. President trump and Vice President mike pence are having a working lunch at the white house where they are likely going to address some of their top legislative priority items, including keeping the government open and funding funded. Their to do list is infrastructure. For could pose problems republicans as several deficit hawks have risen concerns about infrastructure. Particularly when it comes to the case of Government Spending. Most to lose, republicans or democrats if they shut down the government . Is thathat we have seen anytime you have a government shutdown, it is never good for incumbents. That would suggest right now, the majority lot party would suggest they are heading into midterms with that partial government shutdown. You talk to an
And allies were in full force over the weekend, defending the president from what was written about him, insisting they have no doubts whatsoever about trumps fitness for office. We welcome in kevin cirilli, our chief washington correspondent. Is washington still consumed with this book . Kevin a little bit. Here, virtually no the book,lking about despite its playing out over cable news and of course the president himself being behind the scenes, still trying to negotiate the january 19 government to deadline to avoid the shutdown. Publicly, the government is still very engaged in this backandforth. Steve bannon, the former chief strategist and architect really of the coalition of the ultraconservative wing of the conservative party now done. The apology he issued over the weekend was not accepted, according to reporting that my colleagues at bloomberg have done over the weekend. Talking with several folks who say that the president has drawn a line in the sand. Saying it is bannon or
Rally earlier, but the dow, the s p 500, the nasdaq, all of 1. 5 or more. Last tuesday, last friday, we saw action on the part of investors, despite the selloff weve seen, investors thinking that the worst is over. If we take a look at an intraday chart of the next 10 weeks, Something Interesting emerges. Last week was probably the biggest or most memorable day. Especially for the dow, down at one point. Right now the s p 500 is above the close. The last five days, up just a little bit. The s p 500 is still down 7 . Its interesting, looking at the pattern, theres a possibility that its bullish. Sellers lurking, very much in control, with lower lows, telling us that the sellers are lurking and that the buyers could just disappear. But it is impressive, what we have seen today, earlier, the s p 500 dropping down to 4 10 of 1 . Who knows, maybe the buyers will take over. Apple, amazon, bank of america, its important for them, the fact that apple could have been one of the triggers for the