Another 75 billion on repo operations as investors expect a cut in Interest Rates at todays fomc meeting. Damaged goods. Fedex delivers the latest warning that the trade war is hurting americas corporate titans. Larry kudlow says progress is being made on u. S. China straight you. As saudi arabia attempts to move beyond the worst Oil Disruption in its history, saudi aramco says it will be fully back in business soon. September, ourf gate will be at capacity. Matt good morning. Take a look first off at a onemonth chart of treasuries i have got here in my terminal. I took friday, monday, and tuesday off, so i missed this peak. 1. 9 . Ped up to thats one of the things we will be talking about today. We are all over the repo issues, also a big peak, a much bigger spike over a shorter time period. Take a look at the futures. We are looking at a negative yearre in terms of u. S. 10 in terms of equity futures. This follows gains yesterday certainly in u. S. Stocks as we get closer and closer
Lots of hey malika. Lots of beautiful familiar faces. Lots of beautiful new faces. Welcome, everybody. Were just super excited. This is our monthly town hall so were really excited and of course, were on track. We havent skipped a single month so weve kept up with our promise the beginning of our term, one a month. This is our 9th town hall and many communities weve participated. In. Before we get started acknowledge everyone our staff thats worked so hard putting this together. Like to acknowledge them. Michelle, mabel, mary belle, daniel, noreen. There we go. And marcus, sorry, marcus is live streaming. Sorry, im forgetting everything. Okay. And we have Translation Services here today. So we have our American Sign Language interpreter here for anybody that needs it we also have the poly translation has not arrived. If you need it, feel free to raise your hand and our staff can make sure that you get the Translation Services available. That being said, hello, everyone. Hi. Hi. Good ev
For many years they know im wise to it weve had a lot of wins. This was a 7 billion win. Not bad. Washington spares champaign and Leather Goods. Uk Prime Minister Boris Johnson makes his final pitch but he receives a tepid response. The process, to be frank, a lot of work still needs to be done to reach the object of the backstop a warm welcome to street signs. We are just getting some fresh data out of the eurozone this is the final services pmi and kpcomposite pmi. The final number of 51. 6 versus 52 in august the final composite number is 50. 4 versus 50. 1 in august this comes out of dismal eurozone numbers the final manufacturing pmi fell manufacturing continues to be very, very weak. To have a look at the euro in response to these numbers. Currently trading 1. 5 lower below that 1. 10 level. To get a quick reaction, the global head of Bank Strategy from bank of america merle lynch. We got the final deep in now, touch on the territory the eurozone debt remains very weak particular
You dont say the c. And b. C. Or a. B. C. Or n. B. C. Or b. B. C. Because its not orthodox its not what all of the elite in the economist who go and get their doctorate from University Chicago its not what they think right now the heterodox are becoming mainstream because of this phrase called financial vandalism so people are out right under recognizing the fact that the policies of in the Interest Rate setting whether there are 0 or negative its about transferring wealth up its about moving trickle up financialization where the bulk of the economy is earnings go to the top 110th of one percent now i have often used the phrase financial terrorism that will probably become in vogue in the next 6 to 12 months weve said that we have a global empire of debt and that is its currency its a us dollar since 1000 701. 00 weve had no gold backed global unit of account to spend the u. S. Dollar and nobody knows how much they print we cant ever really know how much they print. It does give them a
Well here is a phrase financial vandals and its an interesting one pension world reels from financial bendel ism of falling yields and they speak to mark doubting the chief Investment Officer at blue Bay Asset Management he has he has pension fund mandates and he says about these ever declining rates that quote the true badness is Pension Funds being forced to invest and assets which will be guaranteed to lose such as in the case of long dated inflation linked to guilt real eales of negative 3 percent he said it is financial vandalism and the government and Central Banks need to wake up to this my brother my brother but because of what theyre sure what could just a people stop me and say you know you know what because so if thats your message yes im going to my blue area in fact his granddaughter granddaughter said i look like graham going through blue period but lets talk about financial by vandalism for a 2nd so you know as you point out there was a term floated about called financia