The city come and businesses are pressing for restrictions on restaurants to be lifted quickly. A report suggests hong kong may not ease any restrictions until after a mass testing blitz next month. Libyas Turkish Backed government has announced a ceasefire, the country also calling for the demilitarization of a military city. This comes amid growing fears of an escalation in the complex. Libya was plunged into chaos after an uprising toppled moammar gadhafi. The country has a split into two rival administrations since then. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. From toronto, welcome to Bloomberg Markets. Vonnie we are now joined by our audiences. Here are our top stories. Trade tensions, a former trade official, Harry Broadman, will join us to talk about the back and forth this week between u. S. And china. The u. S. Postmaster general defending h
Outweigh things Going Forward. They not think the fed will step up. And is off the table for now. I do not think bonds are attractive. More. greg has what is the bid is biggest crack you see emerging . Greg probably a another turned on in the economy, covid19 is damaging the fundamentals of corporate america. I think it is a negative story you are telling in the abutting, but supply is getting absorbed in the marketplace. There is a Strong Demand for retail, from overseas investors, and the cost in the hedge has come down. Supplies are actually being absorbed. Taylor this week we set a record investmentgrade issuance for the year and it is only midaugust. It is the market digesting this healthy amount of supply within the corporate investmentgrade bond market . Greg 1. 4 trillion dollars is the number you are talking about, the most that has been issued, and we are only in the third week of august. We think the supply will come down toward 80 billion a month, but that is still quite a
We will be joined to talk more about that. But first, lets talk about the market. Abigail doolittle is with us. On the back of a big speech by joe biden last night that has been largely wellreceived, even some republicans saying it was successful. Abigail indeed. Probably not too much influence in the markets today because earlier today on the open, really small moves. It was as the day got going that the gains continued, especially for the tech stocks on the day. A real head scratcher because we have a they were we do not have any positive macro data on economic front, and we also dont have any negative data relative to the macro either except for the further out uncertainty around the election and u. S. And china relations. Here we have the big tech stocks you were talking about once again climbing to the nasdaq 100 and faang index both at record highs. The faang index now up 115 since its march low. Apple is just incredible, up more than 5 today. Split does notck create value. Inter
Stocks as well. At 4 00 oclock on wall Street Markets were downwith the dow industrials taking another step down near the close so we were down sharply in the morning, leveled off in the afternoon, went back at it at the close, down 592 points on dow industrials at 4 00 oclock yesterday. Earning season rolls on. Big names include cocacola, lockheed martin, Philip Morris and travelers this morning. After the bell attention turning to streaming giant netflix. We will anticipate what the numbers will be. President trump saying he will sign executive order temporarily suspending immigration as part of the war against the coronavirus pandemic. Getting america back to work, georgias governor announcing businesses can reopen this week. Other states including South Carolina and tennessee also starting to ease restrictions. Meanwhile battle over additional coronavirus aid continues on capitol hill this morning. Businesses are waiting for the muchneeded funds to become available. Senate likely t
The nasdaq is the leading indices and oil hitting a threemonth highly after military strikes in the middle east energy is the bestperforming sector today joining us for the hour is josh brown, ceo of Ritholtz Wealth Management josh, obviously seeing a little profit taking here is this a tax situation scenario or is there more to read into about losing steam and sentiment . If you see profit taking on the what penultimate the penultimate is that not an american word as well . It is, we just dont use it as much. And it doesnt sound as good when i say it. It doesnt, sorry when youre seeing profit taking on the second to last day of the year, thats not tax related, but it could be front running what others suspect might be fax related, meaning look at a typical investment portfolio this year, if they own sector etfs, for example, they have a ton of Technology Large cap tech has done unbelievably well this year. Or if they own individual names. If you own apple, youre up almost double. Now