Lets bring in our guests today, arguing that stocks might not be so close to new highs for very long mike wilson, Morgan Stanley, back with us good to see you. Glad to be back. 10 correction is the most likely outcome why is that . Its a continuation from the call we made in september where we got a 10 correction. We walrallied back all this comes back to our framework. We look at the valuation its pretty full volatility has picked up because of the events they know are out there, whether its the virus, the second wave, or the election the premium we believe is a bit understated from where it should be thats all were saying. Its full here these risks are not going away for the next 30 days theyll be with us so, look, the range we put out in august, 3,100 to 3,550 holds. Were still bullish on the vshaped recovery, the call we made a while ago we think its a new bull market. But its risk reward and the risk reward for the upper end of the rage is not that good. If the facts change, could
We have seen the g10 space benefiting from that, especially when it comes to the pound. There are brexit negotiations starting today in brussels. So far there is possibility of progress. It looks like we are in this seeing people are are saying this is the yen buying path of least resistance. We are looking at, when it comes to commodities, the gold futures. Right now. Silver and aluminum having a big comeback. You see brent crude hovering around 42 right now. One big interview to tell you about today. We are talking about market debuts in hong kong, gto express. Here is the bond market first. Not a lot of movement when it comes to the aussie 10 year yield. 77 basis points as people wind back the rate cuts. 3. 11 for the chinese 10 year still. This is what i was talking about. He is joining us for an exclusive interview at the bottom of this hour. A pretty stellar debut to start the week. Haslinda like you said, a lack of conviction. From get Market Analysis the asset strategist at j.
Investigative reporter covering a story and i was really blown away by the fact when you cover stories were powerful interests are trying to shape them and youre not getting the true picture. We will talk about all that today. Carter can we start with you giving a little brief background about your education. Where you went to school, and very briefly your job experience in career . Guest yes, sherrill, think its much during this today its great to be with you. I grew up in Dutchess County new york. And i received eight nomination into the u. S. Naval academy which i started a week after graduating high school in 1989. And so i completed annapolis and was then commissioned in the u. S. Navy and served the u. S. Navy first as an armscontrol action officer during International Arms control negotiations and the pentagon. And then i moved into michael served on a couple of Surface Warfare ships. A couple navy ships in the atlantic than in the middle eas east. Host dont you have a couple of
Wearing, sanitation, ventilation, separation, we are not going to get a handle on this to be able to fully open our economy and our schools in our society. That is what has been ignored by the administration. That is what we must insist upon in this package. It has been another bills but they have not acted upon the resources in a way science would demand. That said come on the subject of the airlines, ive made the case to my colleagues this is a special case because in order for airline employees to return to the workforce, there are National Security concerns, there are concerns about certification and all the rest of that, not somebody leaving a job and coming back to a job, but having to qualified could take a couple of years for a pilot, six months for a flight attendant, six i think we should pay special attention to that. We should not do that and lose all leverage to do Everything Else we have in the bill, which is to crush the virus, honor our heroes, put money in the pockets
Uprisings the stark warning says the pandemic wipes out a decade of economic growth. In the end maybe in a conservative country the choice of continuity was too appealing chief cabinet secretary. Replaced his bastions of Prime Minister stepped down as the countrys longest serving Prime Minister for Health Reasons challenges to pick up from where they left off and make sure their twentys are not a wasted decade. Had attempted to turn around the stale economy with a 3 pronged revival plan we have inherited an economy that struggled with deflation and slowing growth after the stock and Property Market crash in the 1990 s. The effort had limited success and rb nomics as it was known was more or less abandoned the central bank introduced unconventional tools to tackle the countrys problems from driving Interest Rates into negative territory to quantity of easing again with limited success right now the economy is in its 3rd straight quarter of recession in the 2nd quarter of this year the e