To y welcome manus welcome to countdown. Anna commodities a big theme. By some concern investors around the highyield markets in the u. S. The junkbond ecf close at a sixyear low. We talked about highyield bonds and the spread has been whitening. Widening. Now the Goldman Sachs event expressing concern. Talking about real carnage in junkbond market. Markets. They say they have the most Investment Opportunities since lehman collapsed. Manus it worries me when you have a Major International when you talk about this junkbond or these high yields, when you look at the oil industry a big portion the yields are rising to the highest level since 2009. That goes back to the conversation we had yesterday, a lot of restructuring. A lot of expense to repay the 1. 5 trillion that is the size of the u. S. Junkbond. News. Lets the first word reporter Chinese Consumer inflation Beat Estimates. Cpi November Rose 1. 5 year on year. The Producer Price index fell 5. 9 , extending declines. Meanwhile, the
That was easy. At one point today when the indices broke down, i heard a collective sigh. And i was pretty shocked that i didnt get hit by a white flag of surrender after i walked down wall street after the show. But the facts refused to align with negative story. I think today was one of those times. As we saw a terrific rebound in the averages, after a second bout of hideous selling this morning. The dow closing up two points. The nasdaq declining 2. 4 . First, lets deal with the negativity. Its coming from four different directions. Sell sell sell sell. Sell sell sell sell. Worry number one, chinas falling apart. No matter that its been falling apart for ages or the chinese stock market is not creating wealth, many cant handle the stress of waiting for the other chinese shoe to drop after mondays break down. Suffice it to say theres big trouble in big china. Negative number two, the fed has gone from friend to foe. Theres a narrative out there right now, now that we have started to
The mission even has a name, operation tidal wave ii. That, of course, a small comfort to soldiers and residents in brussels. Schools, Shopping Malls, the subway remain closed as authorities search for the source and a specific credible threat, those are their words, credible threat. 21 suspects arrested in weekend raids, four facing terrorism charges. Fifteen of those people have been released but still no major lead. Here at home, the opposite. Homeland security secretary jeh johnson telling americans to go about their business and that, quote, there is no credible threat here in the u. S. Do the Holiday Shopping to those malls as you hit the local malls and travel to see friends and relatives, are they in the crosshairs . Its a message that may not be resonating. We have the ceo of one of the biggest Shopping Mall operators in the nation, a fox business exclusive. How he plans to keep his socalled soft targets and you visiting them safe this Holiday Season. We called it a week ago o
But the facts refused to align with negative story. I think today was one of those times. As we saw a terrific rebound in the averages, after a second bout of hideous selling this morning. The dow closing up two points. The nasdaq declining 2. 4 . First, lets deal with the negativity. Its coming from four different directions. Sell sell sell sell. Sell sell sell sell. Worry number one, chinas falling apart. No matter that its been falling apart for ages or the chinese stock market is not creating wealth, many cant handle the stress of waiting for the other chinese shoe to drop after mondays break down. Suffice it to say theres big trouble in big china. Negative number two, the fed has gone from friend to foe. Right now, now that we have started to raise rates theres no return to the practical policy of data dependence. This thesis says that were on autopilot mode like the prebernanke fed. Well get a shortfall in earnings. Third fear were in the high peaks region of the economic cycle.
As we saw a terrific rebound in the averages, after a second bout of hideous selling this morning. The dow closing up two points. The nasdaq declining 2. 4 . First, lets deal with the negativity. Its coming from four different directions. Sell sell sell sell. Sell sell sell sell. Worry number one, chinas falling apart. No matter that its been falling apart for ages or the chinese stock market is not creating wealth, many cant handle the stress of waiting for the other chinese shoe to drop after mondays break down. Suffice it to say theres big trouble in big china. Negative number two, theed has gone from friend to foe. Theres a narrative out there right now, now that we have started to raise rates theres policy of data dependence. This thesis says that were on autopilot mode like the prebernanke fed. Well get a shortfall in earnings. Third fear were in the high peaks region of the economic cycle. Everywhere i go i hear that all sorts of cycles we have the peak in cell phones which caus