Above the 40 thousand dollar mark. 2 10 of 1 higher in volatility nice and low. Down to a 12 handle on the vix. Seeing individual movers drive indices higher. Especially retailers after walmart reported strong earnings and reiterated its full year outlook. Walmart is adding a record high and onbase and on pace for its record game. Target, dollar tree, Dollar General facing moves higher of almost 3 or more. Looking at treasuries, the 10 year yield has been falling back to near its lowest level in month. Even with a couple basis points higher today, you are seeing the 10 year back above 450. Earlier this month back below for 4437 on the day. We are going to discuss this with Loomis Sayles Vice President and Portfolio Manager andrea. When you look at these rapid moves in the bond market, do you trust what you are seeing at the longer end of the curve . What we sell take place in april was more of a parallel shift across the curve. Front end being driven by the repricing of pricing out som
With the headlines. Julie we have one item of breaking news, construction spending. Month over month, it is a disappointment. It looks like it is more than made up for based on the revision from the prior month, an increase of 1. 8 , up from 0. 8 . Getsee that the may bar bigger as the june bar is smallre. A strange situation with the isn manufacturing. The numbers coming out early. We saw manufacturing in the u. S. Cooling in july from the highest level in five months. The reading is down from 53. 5 the prior month to 50 2. 7. Guys. Matt thanks very much for that. I want to check out how markets are reacting to that news. Stocks are trading lower. Take a look at the indexes. The nasdaq is up a little bit. The s p is unchanged. The dow is down. We did have an up month at the end of the week last week. Erik i want to point everybody to what is happening in the oil market. Freefalleen oil in a over the past few days. Brent is really pacing declines. This is more of an international bench
Disaster for a japanese steelmaker. Japaneseng for the manufacturing sector. The imf puts out a sunny growth forecast. While we see the sun shining, we also see clouds on the horizon. Worries. Mc i am really nervous Inflation Expectations are low. We are not trying to address all of the relative price changes that occur in the economy, we are trying to get the underlying rate. Plus, economists consider the conundrum of tax reports. Growth will pay for part of it, not all of it. You might as well assume unicorns will come deliver packages of money. There is no reason to believe this. There are miracles, sometimes productivity growth picks up. And for reasons we dont understand, but it happens. That is all straight ahead on bloomberg best. Michael hello and welcome, im michael mckee, this is bloomberg best, your review of the most important Business News and analysis from around the world. Now, president Donald Trumps legislative agenda was going to be a big story no matter what, but mon
Hello from sydney where it is past 8 00 a. M. We are two hours away from the open of asias first major market, reacting with the remarkable developments in the French Elections. Betty that is right, setting up the Runoff Election in a few weeks. It is just after 6 00 p. M. In new york. We will be looking at how all the action on wall street is going to play into the asiapacific trading day. The top story today, we mentioned and time zero, immigrant Leader Marine Le Pen is against the untested Emmanuel Macron for the presidency of france. Earning20 with macron 22 . Withois fillon came third another up forth. The markets, quite a dramatic day. Gaininghere was lots of out of different scenarios, what would be worst to the market, manageable. How would you describe this result . I would say it is manageable for the market, especially the reaction from the euro, reaching a fivemonth high against the u. S. Dollar. Remember results are still being counted, so we could see Emmanuel Macron taki
Demand could be week well into next year. Oil prices collapsed in, oil stocks dominated the dow and other averages also collapsing and this sacred item we are getting from citigroup, a distinct possibility with help from a from Hillary Clinton, donald trump could win, 30 probability, more meaningful than investors appreciates, political, not like blackjack, there is only one role of the dice and 30 probability events happen frequently in real life, dont know what that means, 35 means it could happen. And this healthcare has increased those odds. What the heck is going on . People who dismissed this. Charles after Hillary Clintons healthcare wall street firm started dipping up and saying she couldnt or may not have enough stamina to make it through this grueling process which is the next 60 days and that could be the opening for donald trump to win. Stuart you are always good at this, it is not right or left, the more uncertain prospect looks like it could happen, the more they get anno