Late january, early february when the virus was raging in china. Investors and traders in the u. S. , and we have spikes in certain parts of the u. S. It is not clear what that will bring for the rest of the country. Traders looking past any negative possibility. However, from across asset class standpoint, that is not the case. The haven yen is a quite a rally over the last two weeks, more than two weeks, the haven yen up more than 3 , quite a run when you have investors seeking safety in that way. It tells you they are treading water where there is an actual hedge for some sort of risk off ahead. Itll be interesting to see whether the broader indexes, the sideways range we have seen of last couple of weeks, whether it breaks to the upside following the nasdaq or the nasdaq follows stocks down. There seems to be overall optimism driven by the fed. Not a lot changing fundamentally accept the virus data and the uncertain the around that. David dont fight the fed. Thank you so much abiga
I would point to a couple of Opinion Pieces that have opened my eyes about the risks in the South China Sea and possible skirmishes or tensions. We focused on the premier of china addressing in a press conference the National Peoples conference and we heard from Tom Mackenzie that this is not the forum for him to address what is happening in hong kong with the strong response from the u. S. Tom our conversation moments ago from lord patten, the 28th governor of hong kong for the united kingdom, his clear message is what is needed is a coordinated response, not every developed economy for itself. Right now, our first word news. Havea lawmakers in china defied the threat by President Trump and passed a proposal for National Sweeping security legislation aimed at hong kong, curbing potential freedoms in the city, a day after the u. S. Declared hong kong was no longer a tana miss. Autonomous. U. S. , milestone for the more than 100,000 deaths from the coronavirus, the worlds highest death.
Executive later. Another busy day. A lot of people were talking about in the virtual newsroom that we have created around the world that we cant quite remember whether it is tuesday, wednesday, or thursday. A lot of the focus is on what your markets are doing. This is your data, euro area, april services pmi coming up at 12. The preliminary figure was a touch below that. That Services Data coming in at 12 instead of the preliminary 11. 7. That is a little bit better than expected. I am looking forward to the ofexecutive of com campari. Look at renminbi. President trump continuing to push the reopening of the economy and oil pretty much stalling. Treasury yields edging higher. We will have plenty more on that shortly. We will be speaking to the campari chief executive. Trump isent donald pushing to get the u. S. Economy to reopen. He says americans should begin returning to their everyday lives but he is also acknowledging it could lead to more suffering, including more deaths. Pres. Tr
Futures and negative territory for the first time on record. Air travel is floundering with carriers slashing services and grounding planes. Richard branson says the virgin operation may not survive. Today was big story the crash in oil prices. We have the wti futures settling at 37. 63 per barrel. You are taking a look at june futures at the moment. This of course still at a volatile level, but the real question being is will it suffer the same fate . Today, we saw the technical auditing exacerbating the price plunge away from the may futures contract ahead of the Energy Companies running out of place to store oil. U. S. Futures jumping 3 10 of 1 after they pulled back from a six week high. Quibi stocks under pressure. Jim. Ng us now is what was interesting in todays session was it a virgins we saw in the market. We had the price of oil collapse but at the same time, really not a lot of movement when it comes to the u. S. Stock market for the treasury market. Why are we seeing such di
Included 75 previously announced, so the likes of avolon, for example. The stock is down about 0. 3 . We had been anticipate and we would get those numbers today. Once again, boeing lost orders aircraftf its 737 max last month as air travel plunged amid the coronavirus panda make, and of course coronavirus pandemic, and of course, lessors and the like all canceling. Elsewhere we are rallying here for the s p 500. Theres just one sector in the s p 500 lower, and that is banks. We will get to the conversation on their earnings in just a few minutes. Jp morgan and wells fargo out today. Crude oil down on was 5 again. It cant catch a break these days. The 10 year yield at 74 basis points. Guy lets talk a bit about what is happening here in europe and around the world, equity markets and the virus story. We are starting to see maybe some indications that we are seeing a plateau in the number of cases in countries across europe. We are also starting to see some countries reopen their economi