It was forecasted to say the same as februarys read but instead we have a read of 101. 3. This is a little bit of a change given the latest chicago pmi number we got 15 minutes ago that it was a disappointing read in which manufacturing did not expand. They contracted once again. Last week, the university of michigan conference Confidence Index came in higher than anticipated. You wonder whether the slumping Consumer Spending is temporary or if it is indicative of just deeper problems for u. S. Households. This number would seem to suggest it is temporary. What consumers say and how they describe their feelings is different from what they actually do when it comes down to it. Olivia thank you scarlet fu. Matt i want to give you the bulletin top business stories of the morning. Home prices are rising faster than expected according to one. Of the index of Property Values in 20 cities rose 4. 6 in the year that ended in january. The report warns that home prices are going up twice as fast
Selloff. Bond yields around the World Soaring today. Janet yellen poured gasoline on the fire yesterday. She said longterm Government Debt is overpriced. She warns the dangers posed by low rates. Low Interest Rates can certainly incense some investors to reach for yield. They can incense them to take on leverage positions. If they unwind, can create Financial Stability risks. Betty there you go. After her remarks, japans yield made its biggest jump in two years and australias benchmark on his highest level since december and germanys bond rose to its highest yield this year. A huge selloff. The election is underway in britain. David cameron has already cast his ballot. He is one of 50 million britons registered to vote. The challenger is ed miliband. A change for chinas biggest Ecommerce Company. Alibaba naming jonathan lu to take over as ceo. He will take over for jonathan lu who is staying on as vicechairman. Alibaba reported strong Quarterly Results. Daniel zhang will join us in the
Are offe and erik today, no doubt eating the christmas food. We have cookies. We will have that during the break. American express is paying 70 million to settle claims it used deceptive marketing track this is practices. It will go to 300,000 customers who bought things like credit monitoring. Ular to say that the regulators say that the addons had hidden costs. Firstclass stamp will cost you . 49 starting january 26, so stock up. The increase is to save 1. 8 billion a year off of the post losses. Massive Edward Snowden says that government surveillance is worse than anything envisioned in George Orwells novel 1984. Snowden is living in russia on temporary asylum. The message aired on londons channel four. The gift that keeps on giving. Not for the government. For people who consider him a whistleblower, maybe. Catching flak after failing to deliver packages in the u. S. By christmas day. The shipper is blaming nfl ends of packages that exceeded laming an avalanche of packages that ex
The successes you have, we have had a one where the productivity has doubled, that gives you a believe to keep trying. With the private money, you have the luxury that you can experiment and see what works. If it does not work, you can move on. You can do a lot of things with private money. My daughter works with a group in their interest is low education and that sort of in. Did not have private money, we have the old masters. It is the private moneys that through history have been willing to try new things and have an instinct that something will work. They cannot prove it but are willing to make that bet. Are good personal friends. You will be heading off to africa. Bill, you have been to africa. Umerous times what advice do you have four m . What do you think he should see their . There . Getting down to see the projects is exciting. Good seeingll feel the death rate is the is down. The citiesthe people need a lot of help. Drawn and more and more of our philanthropy help these comp
Entertainment. Saturday night, we lose an hour of sleep, all of us. Am i springing or falling . Springing forward. So right now it is 7 00 a. M. Lets get a data check. Stocks, bonds, currencies, commodities. Five years, yesterday. Sunday will be five years on a closing basis. 10year yield. 1. 3887 ever stronger euro. Lets look at the litmus paper of the system. A weaker ruble. Yen blows out stronger. Let me go to the bloomberg terminal. Weakness in the ruble. Here is the intervention by the russian government. They have somewhat given up here with the latest news and tension , starting about 4 00 p. M. Yesterday afternoon. Last a weaker ruble in the 48 hours. We start with the papers and the weather this morning. Here is scarlet fu. The latest is that russia tol embrace crimeas move secede. Choice words. Crimeas parliament voted in favor of secession yesterday. Crimeansan 60 of are ethnic russians. They may want to be part of russia. They will get to cast their vote on march 16. Khrush