Trading here. What is really interesting is the sentiment on the floor, right . Ive been coming down here for the last three weeks. Weve seen very, very extreme swings daily and traders right now are basically desensitized to what theyre hearing and what theyre seeing and these big movements in the market. It is not to say theyre not worried about it, and theyre not worried what will come out of wall street. The question, and the point they make to me, this virus needs to get to the point where it peaks and starts to trail off. That is where the markets calm down. Not until then will we see volatility subside a little bit. You see the Market Selling off 1000 points today. The point made in the previous show. There was a lot of hope yesterday that washington would come up with some sort of a stimulus solution. Right now, folks are kind of scratching their heads, wondering whatever they come up with, if it will be enough. Were watching the dow down 1052 right now. The the biggest dow dra
Giving the u. S. Some attention. You buy the highest quality growth you can find. If software happens to fall in that category. In the context of low bond yields they are more attractive. European yields are not going to go up. Low rates giving us a signal that acne that equities are at risk. They are able to issue whatever they want in the Corporate Bond market. That has caused a change in strategy already. Bonds rallying, equities rallying because of the twosided nature of these things. Jonathan jim keenan ofjonathan whack walk lets begin with you, winnie. If you look up i everything situation in the global fixed income. A 10 year yield increase below 1 . Corporate borrowing costs alltime low. Low. Ar treasury a record just buy everything get what you can . Its by everything but highyield energy. It seems like investors have a lot of cash but continue to see record inflows into Investment Grade. Triple csnt to buy haphazardly. We dont want to buy energy haphazardly but we need to put
That is the crux of the market. Software happens to fall neatly in that category. Do equities need to rerate because rates are so low . Are they giving us a signal that equities are at risk . They are able to issue whatever they want in the Corporate Bond market. You can see that has caused a change in strategy already. It is like everything becomes a bond. Bonds are rallying, gold is rallying because of the nature of these things. Jonathan joining me around the table are james keenan, winifred cisar, and peter tchir. It feels like a buy everything situation. The 10year increase below 1 . U. S. Corporate borrowing costs at an alltime low. Is that what this is right now, just buy everything, get when you can . Winifred everything but highyield energy. It seems investors have a lot of cash, we see record inflows into Investment Grade but the bias is very much to be up in quality. We dont want to buy cccs haphazardly, buy energy haphazardly, but we have to put the money somewhere. Jonatha
In mystery name . We get a minneapolis appearance from pete. Look forward to that but beginning with this. Breaking news in retail, the gap scrapping plans to spin off old navy shares jumping on the news. Lets get to Courtney Reagan with the details. Gap, inc, reversing the decision to spin out old navy into a publicly traded company, increasing guidance for the full year and giving leadership updates and a surprise announcement in the last hours shares popping on the news, they were behind be pulled become a bit. But they nounsed the gap pick art feng was out the separation was first announced at the end of february 2019 interim ceo Robert Fisher said while the object he was of the separation remain relevant our board of directors concluded the cost and complexity of splitting into two quips combined with softer Business Performance limited our ability to create appropriate value from the separation gap, inc, now expecting fiscal full year sales and comps to come in at the higher end
Lets get your global exchange, where we bring you todays market moving news from all around the world. From hong kong to munich to paris washington to sarasota, florida and new york, our bloomberg voices are on the ground with todays top stories. There are questions about transparency for china. Rishaad salamat joins us from hong kong. Walk us through some of the latest. Now with63,000 cases the death toll up by 121, but the inconsistency in the numbers has led to a lot of questions. Some of them are not being answered, and that has led to people thinking that this disease is not really going away at the moment. We had some optimism a couple of days ago, but that has receded somewhat. Weve also got bickering between washington and beijing. The u. S. Saying they have been denied that. On a microeconomic level, weve got companies such as Fiat Chrysler halting production in one of its plants in serbia. They cant get enough parts out of china. If you want to buy a barbie doll in the future