Michael mckee is at the meeting and has a special guest. Michael we are here with raghuram rajan, a former central bank or of india and that at the sure university of chicago booth school. For, in 2005,s warning that policymakers were not seen the dangers of rising asset prices. Point 5000. Ver are you concerned is over 25000 and i you concerned about this . With price inflation, you have to ask why and there are support for it, growth is strong for the first time across the board. Europe is coming back very strongly. Going the way it goes, a country with a labor force declining at 1 per year. For it to grow at 1. 5 is great and the u. S. Is doing reasonably well. On the yield side, there is some optimism. The concerns are with two factors, the monetary side and the financial side. Monetary side, when do we see inflation . If you have strong growth, you have the economy that levels the unemployment not seen for a long time, when do we see Wage Inflation and that translate into goods in
And ive always said this. Its nice to have kids because you need to live to watch them grow up, right i guess time is passing, they cant grow up. Did you have a nice day we did. I i dont know, i thought i had a free rain ein to imbibe. You cant tell what youre doing until its too late. So i have a picture we had a cake when we got home. I was laying on the couch and they took a picture of me because i wouldnt sit up to eat the cake you need those glasses that we had stounounds like a good birth we went in the big city it was fun. Happy belated birthday. Thank you. Folks, lets check out the u. S. Equity futures. The second trading week of the year green arrows dow was up by 577 points gain of 2. 3 nasdaq up by even more 3. 4 just in the first four trading days looks like there are green arrows across the board. Dow futures up comes after big gains up tonight in asia. Nikkei up by. 9. Hang seng up by a quarter of a percent. Shanghai up. Early trading in europe this morning you will see t
Im seema mody in for sara eisen. Good morning. The big story that has everyone buzzing, alabamas dramatic overtile win ovove overtime win in georgia. More on that story coming up but congratulations to them. Commiserations to the losing side first, lets get back to the market picture we did have plenty of record highs intraday yesterday but not all record closes. The dow did close slightly lower for the day. The s p and the nasdaq were slightly higher. The nasdaq led the charge, up 0. 3 gains were slight but they were broad, 9 out of 11 s p sectors were higher. Utilities were the best performing of them and that highlights the boring fle ing n the outperformance tenyear treasury note for you, yields rose yesterday as they were towards the end of last week we have crossed 2. 5 the elusive barrier out of the 2. 4s 2. 5 bangon this morning the shorter end of the curve has been rising fast yields up which supported the dollar but the shorter end leading the charge higher. In asia, mostly p
Euphoria right after President Trump was elected, right here on this show. Hell be here. First, well start with bonds. U. S. Bonds the tenyear yield crossing a key level now well above 2. 5 . Rates have been rangebound for most of the past five years. Its the one variable markets havent had to face yet. Is a bond bloodbath ahead and if so, can stocks and rates rally again . I dont think we see a bond bloodbath. Weve been in this range for the last four or five years. Clearly low yields have been great for the stock market over the last seven or eight years. There will be some that argue if rates went higher, that would be good because it implies economies are getting better, Global Growth is doing well, stocks should do well, indeed. I would say this if rates rise, the u. S. Dollar should rise. A rising u. S. Dollar could potentially be a headwind instead of the tailwind weve had with a weaker dollar so you can make many arguments this is the one thing i would say. You cant have it bot
Points overnight in asia, the nikkei hitting 26year highs during the trading session. Market ended up by over a half percentage point to 23,849 in europe this morning green arrows there the dax up is up by 0. 2 in france, the cac is up the ftse up over 0. 1 . Yesterday the yield on the treasury closing at 2. 48 . This morning the tenyear is yielding all the way up, almost 2. 496 stocks to watch today. Samsung is forecasting a 64 rise in Fourth Quarter profits on continued demand for memory chips but that guidance is below analyst estimates. The strong yuan and yearend bonuses hit results. Samsung will report detailed earnings at the end of the month. Shares of altice are higher after the Company Announced plans to spin off u. S. Operations the Telecom Provider will pay a 1. 5 billion Cash Dividend prior to separation and launch a 2 billion buyback of u. S. Shares after the spinoff. British American Tobacco says the new u. S. Tax rules will boost earnings by 6 in 2018 the changes will a