Blocked a story on hunter biden. The whole thing is insane. Joe biden is a corrupt politician. Ive been saying a long time. Everybody in washington knows it and the Mainstream Media doesnt want to cover it. Charles well get reaction from a New York Post editor coming up. Trump sounding off on the stimulus standoff. I would go higher. Go big or go home. I said it yesterday, go big or go home but nancy pelosi doesnt want to give anything. Charles Mitch Mcconnell also throwing coldwater on the idea. Arizona congressman andy biggs joins me at the bottom of the hour. All that and so much more on making money. Charles the market woke up on the wrong side of certainty today. I guess it is appropriate because today is national grouch day. The guessing game runs amok. There are a lot of influences on the action or inaction today. I think the better way to look at the market is not the news because none of it is really new or newsy per se but the question is, whats going to be the next catalyst
On downing street, pressure grows on Boris Johnson. Bailout bogged down by wrangling over key details. Swift approval from brussels once the plan is finalized. A warm welcome to daybreak europe. You are going to hear people drone on about liquidity. It does not change the risk sentiment. Equities are leaning into the reopening narrative versus the sino china political discourse. You are seeing lockdown perhaps being lifted in victoria state. Tokyo expected to lift their state of emergency. Equities are leaning into that new narrative of reopening. The yuan drops. Beijing tightens its grip. China sets the yuan at the lowest fixing since 2008. It is all about managing disorderly moves. City joins jp morgan in cautioning asian effects. Citigroup, we do not like asia affects asia fx. Dollars bid, oil is up. Since 2009drill rate gives you crude gushing up by over 1 . Dollaryen, as i said. The market is the longest of yen since october. Let us focus on the china story. What is going on . Chi
Coronavirus restrictions. The pboc pledges stronger monetary policy. Saudi arabia confronts its own predicament with slashing of spending and tripling vats. The European Commission threatens to sue germany. Sident ursula von warm welcome to the show. The agenda has been set. More stimulus from china and japan. Negative Interest Rate policy is exploding across the u. S. To the market, april fed funds futures for 2021 skirmishing with a negative. According to jpmorgan, you should. There is a big bet negative rates could go to 45 bips in 2021. The dollar, what are the consequences of nirp. Therestrate policy on dollar would be the dollar living on borrowed time according to standard chartered. Dissipating. Ial is we are rolling over. Dollaryen, more news of more stimulus from china and from abe japan could do more helicopter money if needed. The dollar rises, the yen falls. Have a look at the rest of markets. What is the biggest risk of the morning . Asian stocks rise on the stimulus disc
Boris johnson announces the first step to easing its lockdown. Donald trump combats an outbreak in the white house as he tries to return to work. Vice president mike pence spends the weekend in selfisolation. The European Commission threatens to sue germany. Therong rebuke over Constitutional Courts ruling on ecb bond purchasing. This is the picture weve got. Welcome to mondays program. Of futures, euro stoxx 50 futures up by 0. 4 . Ftse futures upice 0. 7 . Up by 0. 7 . We have seen the nikkei doing quite well. The hang seng doing quite well. Less well in the chinese market, but broadly speaking, positive. In response to a lot of talk about stimulus, we have had talk from the pboc and china, policy coming through in india. Lots to think about in asia. Also thinking about the european context. We will look to where all of that conversation goes. That expectation of fiscal policy doesnt seem to be underscoring the positive move in equities. Reopening gradually, very gradually. Economies
That is a 2. 9 increase from yesterday. Gov. Gavin newsom announced a partnership with the governors of oregon and washington 10. They are agreeing to Work Together in a plan to slowly reopen their state. Cristina rendon own is live with more on that announcement. Reporter there are no specific timelines given but gov. Newsom says the west coast issued stayathome orders early and now these three states are working together to slowly lift restrictions. I want to acknowledge and thank the governors of washington, the governors of oregon. Reporter he introduces a west coast packed, an agreement between california, oregon and washington, in a move to reopen the economies together. The shared vision and talks to us early last week. We begin a process of establishing more formally what it would look like and how we could begin the process of the kind of incremental release of the stayathome orders. Reporter no specific details were outlined but there was not a plan to reopen. The governors a