Professor levy ok. In our lecture on the Great Depression, i talked about the origins of any financial crisis, it is always important to look at the resolution to the last crisis. When we think about the Great Recession, we have two moments of origin. First is the 1970s, the crisis of industrial capitalism and thinking about whether or not the American Economy has gotten out of that crisis. We have been talking about this. The second point of origin i think is the late 1990s, the new economy, and how the bubble crash sets a pattern that goes across the 2000s. So we ended our last lecture with Alan Greenspan before congress in 1998. It is in the midst of the new economy euphoria. Here is what he said. You read this, but i will read it out loud. In short, our economy is still enjoying a Virtuous Cycle, in which, in the context of subdued inflation and generally supportive Credit Conditions, rising equity values are providing impetus for spending and in turn the expansion of output, emplo
In virgin atlantic. Delta is amongst the frontrunners. Comes around quickly. December, were already here. Not long before christmas and we have the november final pmis out of the eurozone confirmed at 46. 2. That was the flash, 45. 4 was october. So slightly higher. The highest since march. But 46 still deep in contraction territory. Output numbers, 46. 1. So thats going in the right direction. And the final manufacturing pmi export orders 46. 4. Again, a tick higher than the 45. 9 flash, the highest since march. So the contraction activity easing to an eight month low if you can explain away like that. Eurodollar 1. 3026. We did gets a high as 1. 3048 which would have been a six week high for eurodollar. Joining us for more is alan capp, head of credit straebtegyt lloyds. Alan, lets get your reaction. The number is going in the right direction. Does it make much of a difference . Right now the equity markets have had a great run. Theyre looking a bit overstretched. So im strul link to
Against all of the political changes were seeing today, first i want to show you the Market Action. Stoxx 600 is sitting roughly flat, but weve seen interesting trading session where the nikkei really surging to the up side again today. More on that in a bit. Take a look at whats happening across europe because after a couple of uglier days in the market, were seeing something of a comeback now led by technology, Retail Stocks are also in the green, food and beverages, autos among the sectors dragging on the indek. We can take a closer look at the bourses. Ibex is down. Ftse 100 sam thing, so well keep an eye on all these levels as the show progresses this morning. The bond space is where weve been focusing our attention with spain and greece on. Spain today seeing prices rise, yields coming down to 5. 78 . Italy seeing a bit of a rally, too. Selloff for britain and bund oigs boig benefitting. Quick look at information rek. 81. 02 is the left. Down another tenth of a percent. Eurodolla
Hello. Welcome to todays,. Im ross westgate. And im kelly evans. Asias main market shut for the Chinese New Year and large parts of the u. S. Struggling with extreme weather. Digging out from nemo, residents and u. S. Businesses hope to resume to normal business after Mother Nature dumped nearly three feet of snow in some areas. And ben afflecks iran hostage drama argo picks up the best film accolade. Daniel daylewis wins best actor. Were up for another week. We might do what they did and share the love around. I read the reports. Were going to talk about it later. There was no one dominant film. I thought it was interesting that argo won best picture . It was a great movie, but best movie . Really . Is that the lincoln only got sometimes theyre quite clued up. The nominations were very similar. Do you think lincoln would do better than it did. Daniel daylewis picked up an award. Help recap for those of us who didnt catch the whole thing or any of it, frankly, but yeah, britains big fi