We are watching the hang seng index. Australias market is only higher by 0. 3 . But we had this news that china will allow australias cargo to come ashore. Lets have a look at stocks. Clearing exchanges in focus. The u. S. Approved legislation that could lead to chinese firms getting kicked off american exchanges. Also getting a call from sidney. Tak is down 1. 4 . ,his big surging iron or holding at a record. In recent weeks, weve seen pickup of state owned enterprise default in china that have jolted the credit markets and rattled investors. One company in the spotlight is ever grand, which has accumulated the biggest debt in global real estate. We are joined by Stephen Engle in hong kong. In ournt to bring distinguished guest, the ceo and cofounder of sc lowy in hong kong. A bank and manager that specializes in distressed and highyield debt. Good to see you. You spoke to bloomberg about a month ago and you did talk about ever grand. We know that they have taken steps to increase or
Businessweek is really taking everyone by storm. Tom they mentioned all the right schools as well. I think it is true probably in every urban area, but after real estate it is the focus of new york city, what to do with the cherubs in not only the private schools, but i would also mention the stateoftheart anything,ools are, if even more competitive. The schools with a heritage up in boston, boston latin. They are just as hard to get into as the other fancy schools. Do spend a lot of time thinking about education for our kids, and these fouryearolds actually have to do tutoring, but also applications and interviews to get into these kindergartens. I find that fascinating. We will talk about Central Banks much more. Thats get to bloomberg first word news with ritika gupta. Ritika President Trump has fired a Homeland Security official who contradicted his unfounded claims about election fraud. Christopher krebs is a former Microsoft Official who the president named to a top security job.
All around washington but nonetheless reflecting a real divergence and breadth of thinking, experience and approach. In thinking about these kinds of conflicts with a lot of broad strategic expertise and also a lot of Field Research and handsonexpertise. This struggle is at the new American Engagement Initiative at the Selikoff Center at the Atlantic Council. He has a longstanding scholar, many will know him from his years at the Cato Institute and his most recent book is hes, war and liberty. He is also a former navy officer and is in many ways one of the great skeptics and contrary invoices in American Foreign policy and strategy thinking today who has prolonged time and were pleased to have them with us se in this event read chuck and logan Catholic University is at that center for study and statesmanship, used to be cato as well and is recently written an important article in defense priorities call the case for withdrawing from the middle east and is an advocate of minimizing us m
Thank you for being with us on this simulcast, Bloomberg Radio, Bloomberg Television worldwide. Tremendous news flow wrapped around the details of a worsening pandemic worldwide, and indeed across this nation. Also looking at markets off the faxing news, futures up 10, dow futures up the vaccine news, futures up 10, dow futures up. New low on the vix as well. Looking at the calendar, everybody is recalibrating. Weve got a major house recalibration of the equity markets out moment ago. Jonathan at Credit Suisse, Jonathan Golub, they have a forecast yearend on the s p for the end of 2021 with a 12 upside. The 2021 forecast is designed to answer what the future will look like in the future. He makes the point at the end of this paragraph that the rotation into the cyclicals will largely be behind us, and they stay overweight on tech, also overweight on the financials. That is just a flavor of where Credit Suisse are at this morning. Tom the conversation forward, and i cant say enough on r
The start of the week, a huge. Otation towards value the s p up by 0. 6 . The pound is positive. The departure of dominic ,ummings at 10 downing street going at the end of the year, setting up expeditions that may be a brexit reset and a deal as possible. Interestingly enough, we are seeing a continuing move in what we are seeing in the bond market. Bonds are bid today. He was there moving back down, unsurprising and what we heard from Christine Lagarde yesterday. More broadly, the virus definitely back in charge. The vaccine news at the beginning of the week, the virus news at the end of the week. Alix such a great way of framing that. Lets break down the virus issues more. The global coronavirus case is now topping 52. 9 million, deaths climbing to 1. 3 million. Focus is on europe and how it is addressing the virus. Joining us is Bloomberg Opinion columnist ferdinando juliano. The story in the u. S. Is that you guys are doing targeted lockdowns, and it is working, and the cases are l