A hectic month. There is a lot of uncertainty with regard to the world in general. Jonathan jim b juncker joining us now. What a week in this market. The equity market breaking down by a little more than one and a half percent on the s p 500 but it is the absence of the bid in the bond market hitting the attention of you and i and everyone else. We are selling off, not driving yields lower. Yields are higher by four basis points. What is the signal you take away from that . Jim a worrisome signal. You are right, the fed is doing qe, buying 120 billion dollars of bonds a month, the stock market flirting with a 10 correction. That has all the hallmarks of a classic risk off rally, that bond yields should be falling as treasuries catch a bid as everyone rushes into safety. None of that is happening. The take away the market is still worried about uncertainty over next weeks election, uncertainty about the rising coronavirus, and potential or more fiscal stimulus and or inflation. All of t
The careful counting of every ballot. Mr. Biden asks for every ballot to be counted, mr. Trump says he will go to the Supreme Court. Good morning. The news flowing every hour. Francine lacqua, it is pretty much as we expected, and we have not only seen the political results but the market gyrations in the last 24 hours. Francine tom, there are two outcomes the markets were fearful about, and those outcomes can much more possible in the last 24 hours. First, the joe biden presidency with a Republican Senate. We could have that. It is still mathematically possible. The other one, of course come a very contested election. If you listen to what President Trump said about an hour and 10 minutes ago, it is very clear that he wanted to go to the Supreme Court, ask that the Supreme Court step in, because unclear why, tom, because we are still counting votes. There is absolutely no evidence that something has been done wrong, but certainly fighting words from President Trump, and that will put
10ly plans on spending billion euros a month. Biden uses his first call with Boris Johnson to reaffirm his support for the good friday agreements. A lot to talk about this morning. Under one hour until the start of the European Equity trading session, futures look flat. Ftse futures, dax futures, a bit of a mix. Yesterday europe was up strongly 1. 5 or more on the major markets by the close. We come into today with a continuation of themes of the previous day, selling out on tech, getting back to value. Lets get to u. S. Futures, looking more buoyant and having to do with what we did not see in the u. S. Session yesterday. Things are not as strong across the board. Nasdaq down by 0. 3 . U. S. Futures looking have we seen that rotation playing out in terms of the tech versus value story . It is in play in asia. It is inch deceit a japanese equity market doing well. See the interesting to japanese equity market doing well. Part of this has to do with what is going on in tech, a crackdown
That michigan will go to biden that brings bidens electoral votes to 253 but there are still six uncalled races too close to call. Pennsylvania, georgia, North Carolina, arizona. Joe biden issued a speech. Diana . He issued a speech last night about being patient. But now he is on the offensive he said respect and he talked about achievements, talking about garnering more votes than any other president in history then he used his fighting people we the people will not be silenced we the people will not be bullied. We the people will not surrender. My friends, i am confident we will emerge victorious part of that was the launch of a new campaign that bide enl tweeted he was starting a fight fund because donald trump doesnt get to decide the outcome of the election, the American People do it made the point. And then he left presumably to start the fight. Thank you, diana. As the Trump Campaign launches a Legal Campaign they have indicated they will fight this let me run you through exact
Abandoned any hope of a virus package before the election. He says a deal will come after the vote. Big tech prepares to defend interests as jack dorsey calls section 230 the most important law for free speech and safety. Get you started with a quick check up on how markets are right now. Sophie kamaruddin. Are set toa stocks resume losses this wednesday and you have nasdaq eminis under pressure early in the Asian Session after we sawtek shares rally. We are watching what is going on with the tech space following amd agreeing to buy a company. Results could provide support for that space. Its a busy calendar for earnings. Withec reporting today sony. In australia, the asx 200 coming online with some Downside Pressure set to extend losses for a fifth straight session while the aussie dollar is holding steady, slightly under pressure, while bond yields are easing ahead of inflation data due from australia. We see a pickup. Lets flip the chart for a broader outlook on where the dollaryen