Consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . One of my friends invested in uber a number of years ago. It was at a 3 billion market value. I said he was going to lose all of his money, no ridehailing company can be worth 3 billion. In fact, it turned out to be worth staggering sums of money and now it is publicly trading. I had the same reaction when i heard of didi, an uberlike company in china. I did not think it would catch on but i was wrong again. Today it is the single largest ridehailing company in the world. The person running the company is a young woman from china who rose up because of her hard work and intellect and now she is the president of didi. It is an incredible success story. She is one of the best known Women Business leaders in china, an extremely intelligent person who is clearly going to make the
Furloughs taking place the other thing to keep an eye on is the high yield bond etf, hyg, and also the junk etf, spider, bloomberg, bark clays, hy bond, jnk were seeing those jump because of some of these fed actions which include now basically buying into and helping support u. S. High yield corporate bonds, so really talk about taking all the tools out of the chest its cause something strategists to now circulate notes today asking what could potentially be next for the fed is it going to be Something Like buying into actual equities . Guys carl . We are glad back to have on our air art cashin, director of floor operations at ubs and bob pisani art, we have missed your guidance and wisdom over the past few weeks as you recover from an accident, but its great to have you back let me just start off by asking you about this historic fed move and as you said in one of your notes this morning with powell on the tape, the game is now on the table. What do you mean well, its, you know, the
Mixed picture w m go, a mixed picture with the cac 40 and to 10 and the dax is up sub 1 and the ftse 100 in the u. K. Up 5 10 of 1 and the ibex in spain one of the worst performers. Asset on a across headline level with european equities unchanged. Space, a little bit of Dollar Strength which means cable off by 1 10 of a percent. Interesting dynamics around sterling with employment and wage data with mark carney testifying and news about brexit geared brexit. And the u. K. And their view on the transitional deal. We ceos move lower we see yield move lower in the core and periphery. Thematic chart that i got from Marcus Ashworth. Spain and the u. S. s 30 year yields rapidly diverging. Front and. At the end. The final chart, i mentioned the euro, after flash pmi data on the eurozone coming in weaker than expected. The euro off slightly and approaching its trendline since middecember as momentum appears to be favoring losses. We like to watch the technical charts. In the u. S. , the major
Feel the effect. Politicians around the world have condemned the effect. A series of questions that we are going to talk about this morning answers are very thin at this stage. Lets talk about how the markets are feeling about the story this morning. The markets increasingly that kneejerk reaction is not what it once was to terrorism. The markets are desensitized in some ways to what is happening on french soil. We have the cac 40 trading down by 0. 4 this morning. Expectedrkets are not to generate a big response. What else are we seeing . Not much of a move in the french government bonds either. There is not as significant a flight to safety as we expected. Against is weakening the pound. This is more of a pound move against the euro. Elsewhere, money is moving out of the end with the and continuing to weaken. The rally continued across in asia. It seems as though as you say, the market is desensitized. Maybe we will not see quite the kneejerk reaction we have seen in the past. This i
Of trading this week. The dax off by 0. 8 . ,f you lift out the stoxx 600 the biggest moving group is travel and leisure, perhaps no surprise. Switch up the board very quickly. Look at this. Dollaryen. Potentially the biggest weekly gain for dollar and in dollaryen in percentage terms in years. Treasuries having their worst week so far this year. 1. 54 of the u. S. 10year. David w. turning to the attack on nice, president hollande held an emergency meeting after 84 people were killed during a terror attack in the Southern City of nice. We turn to our bloomberg colleague who has been reporting on the story. Please bring us up to speed on what we know about this attack up to now. We know the name of the attacker now. Mohamed lahouaiej bouhlel. He has been identified as a 31yearold french tunisian national. Apparently, a family man with three children. His drivers license was found in the truck and police have man who was is the driving the truck into the crowd last night. He was not know