Protect, and a good friday agreement. Mark he quoted it is important to tell the truth. A u. K. Decision to leave the Customs Union would make border checks unavoidable. Say two officials explosions at a mosque have and wounded 75le others. The blasts happened in morning prayer. A twin car bombing left 33 people dead. Ruling south african parties will bring it into jacob zumas presidency. The African National conferences trying to wrap up a deal for him to resign so that the party leader can restore public support as it gears up for elections next year. Global news 24 hours a day powered by 27 hundred journalists and analysts in 120 countries. This is bloomberg. Julia live in new york, im julia chesley. Im scarlet fu. Joe im joe weisenthal. Julia stocks going from positive to negative today. Major averages currently in the green. Joe what jim is . Scarlet rocky stocks at the end of a rocky week. Higher Interest Rate volatility could be partly to blame. Where are the deficit hawks . The
I think the market is waking up to the fact that the plan that the fed put in place is actually justified. We have more policy uncertainty, which can naturally lead to more Economic Uncertainty which will lead to more market uncertainty and that will end up with more volatility. Im going to argue it is not really done. These things take time. Its hard to have such a dislocating move without leaving all kinds of wreckage around that you are not expecting. If the stock market is pricing in lower longterm yield, that could lead into higher evaluation. I dont see a financial crisis on the horizon, but we are paying close attention to it. I think this is more qe unwind getting priced in. The ecb was buying, and the boj was buying. While that is unwinding, the entire market is realizing that this vol from cute he is stepping away and we have to get ready for more vol. Jon get ready for more vol. Around the table, greg peters of pgim fixed income, Bonnie Wongtrakool from western Asset Managem
Going to take hold with wages and employment. I think the market is waking up to the fact that the plan that the fed put in place is actually probably justified. We have more policy uncertainty which can naturally lead to more Economic Uncertainty which will lead to more market uncertainty and that will end up with more volatility. I would argue it is not really done. These things take time. Its hard to have such a this locating move without leaving all kinds of wreckage around that you are not expecting. If the bond market and stock market are pricing in lower longterm yield, that could lead to higher valuations. I dont see a financial crisis on the horizon. But we are paying close attention to it. I think this is much more, but qe unwind getting priced in. It used to be the boj was buying. While that is unwinding, the entire market is realizing that this decline that came from qe that is stepping away. ,we have to ready for more volatility. Jon get ready for more volatility. Around t
Balance sheet is apparently nothing. I imagine janet yellen is doing cartwheels behind the scenes at how well the market has taken the Balance Sheet reduction. They say this will be very boring. It is all preannounced. It was all very transparent. There was no surprise in the announcement yesterday. I think we will be watching quantitative tightening in slow motion. I think she is trying to do as little as possible. She introduced tightening in monetary policy, and she was trying to do as little as possible with the dots to keep them as unchanged as they could be in the next 12 months so beyond that they can make the policy changes. The crisis is over. We still have policy levers largely at their emergency settings. Lets return on a methodical basis the policy levers to normal so we have the ability to control our economies. Jonathan joining me around the table today is greg peters, pgim, priya misra at td securities, and Colin Robertson of Northern Trust. Great to have you with me. Le
Quickly on this headline that mccain plans to vote no on the Graham Cassidy bill. Heres the s p 500 managed care index. This is the spike, it has changed a little bit, but you saw how it is falling going into this headline. Some of the large Health Insurance Companies Like the United Health cares of the world have not been moving much over the past few months, but they have been moving today. United health is still down. Those companies are seen as having more leverage in the Health Care Policy changing. Ne, which has more exposure to those who would be affected by changes to healthcare legislation. , an operator of many urgent care centers, has been volatile in recent days as well. Traders try to figure out what this vote could potentially mean. Turning back to broader markets, taking a look at the week that we have seen for the major averages. As we know, the three majors did hit records this week. The dow has been leading on the but, up a quarter percent, the s p little change, the