Talking about what is happening with the coronavirus and appointing Vice President pence. As he was speaking, one of the cases of unknown origin that happened in europe as predicted if you look at the treasury now, you see the 10year is yielding 1. 297 . Not negative yet. President trump speaking about preparations last night. We are very, very ready for this whether it is going to be a break out of larger proportions or whether or not we are at that very low level and we want to keep it that way he has tasked Vice President mike pence he also addressed the market response i think the stock market will recover. The economy is strong, consumers are incredible thats why we are doing well and other countries are not even before the virus our consume rp is very, very strong very powerful economically. And the president put some of the response of the dow to the democratic convection. Are you suggesting Financial Markets are overreacting here . I think Financial Markets are very upset when
Secretary of state. To discuss, we bring in our eam, marty, and Michael Mckee, bloombergs International Economics and policy correspondent. Lets start with you, marty. Its the worstkept secret in d. C. The last couple of days, but the confirmation could be difficult. Walk me through it. There have already been a number of key republicans who have expressed some doubts about the tillerson pick. Marco rubio being on the Foreign Relations committee, john mccain being an influential republican in the mainstream. But ultimately i think theyre probably going to give donald trump latitude on this one, and i would expect him to get confirmed. Jonathan mike, ive been watching the news here in United States, and the obsession by Rex Tillersons supposed relations with the president of russia, mr. Putin. But to quote Bloomberg View just today, a new russia policy needs the exxon c. E. O. s skills, and i can quote him, trump can hardly do worse to get the kind of advice and relies on a different co
Building. All of this a couple of weeks away from jackson hole. The conversations are really going to build up ahead of that speech for the fed charean net yellen. If she mentions that, were going to have the same kind of move. David theres more of a raise than people think. Alix the debate continues and were going to chris just from energy to opportunity to real estate from sam zell. Plus were going to speak to the c. E. O. Of the biggest Mining Company of the world, andrew mckenzy. There were the fx market, a great market. Its soft on the d. A. X. Down by a half percent. And this is the spillover from equity into bonds. Yields on treasuries coming in three basis points on a five year. Now just 69 basis points on a two year. Were in three basis points on the u. S. Twoyear. The big move is youre seeing a weaker dollar on the crosses against every single g10 currency. Dollar yen, the biggest mover breaking in at 100. And historically, heres the story. Youve go all the way back to 2013 f