Credit spreads really came in a lot. Basically, this tugofwar. Do you look at nearterm challenges or 2021 . Jonathan looking forward to this conversation. Gershon distenfeld is with us. Good practice social distancing. You can take it off for the interview. Great to catch up. The shortterm risk versus the longterm risk. That is a part of the conversation at the moment. One thing that you said that is important, you cannot draw a hard distinction between the shortterm and longterm. Shortterm can actually shape the long term. Can you walk me through your thinking at the moment . Gershon absolutely. The mask is not what you think. It is a plea for you to come home. Know howuse we dont to run elections here doesnt mean that you cannot come home. You may have voted for brexit over there, but you dont really know what you are doing over there. Jonathan i dont think you want me to weigh in on the election right now. You dont need the view from london. I will come home soon. Can we start with
Country first and think beyond your own ego and your own interests and your own disappointments. The president vows to keep up his legal battle despite losing case after case in court and the Administration Blocks joe bidens team from crucial covid information. This after a weekend where thousands of Trump Supporters flooded the streets of the capital and clashed with counterprotesters. Hurricane threat. Overnight, iota gaining strength. The category 4 storm taking aim at hardhit Central America and the severe storms tearing through the midwest and the northeast. Dangerous winds whipping through this nfl game in cleveland and tearing down buildings. Were tracking the latest on hundreds of thousands waking up without power in the u. S. This morning. Abc news exclusive. Oneonone with michael j. Fox opening up about the Health Crisis that threatened to leave him paralyzed and his darkest moment that led him to question everything. Of all things that was the thing that really set me off. T
The s p market barely budged but the stunner was the bond market, hitting its highest level since march. Chris called this on the show a couple weeks back. Where are we headed from here . I think we are headed with the yields going up still. What is important about this move, it is not a few days old it is a few months old the trend here is several months old. I think any shortterm pullback in bond yields, that would be an area to be a seller of bond. We think yield can go up from here if you look at the longer term chart, you have to focus on where yields bounce from in 2016 and where they broke down from in 2020. When you look at this move, i think 130, 140 is ultimate lit where this is likely to go thats where the key levels are. I think as bond yields have gone up, the yield has gone up. 80 basis points and i think Equity Leadership changes ri long with that the kre here is starting to break out, not just relative to s p but on its own right the technical is starting to improve her
Thank you for joining us for todays events. Featuring doctors. This is your first time joining us, my i have the honor of serving as the dean of the school of business. 2020 marks a very special year for this school. Its our 100th anniversary were celebrating 100 years purpose driven business education. Since our inception, we believed in the power of partnership to inform and lead change. So very much would like to thank the cavalli center for Global Security analysis and her wonderful partners, the museum of American Finance and cfa society of new york. Is cosponsoring todays conversation. One of the goals of this centennial series is to shine the light on the important history place in shaping the future. In the latest book, thanking unfreedom, black woman in u. S. Finance and for the new deal, she explores rich. Of financial innovation and his Transformative Impact on u. S. Capitalism. Todays session will take place in three parts. First, my colleague and friend, david, president a
Underway at the masters, while one of the trail blazing golf legends is one of my winners of the week. All that and so much more on making money. Muck charles well, markets rerutted out of the gate erupted out of the gate nicely, but the tale has been the case all year long. The emergence of buyers yesterday is when youve got to watch out. In the final hour of trading all year long, thats when you know the next day is going to be big. Shakeout sessions are becoming somewhat more predictable. To the pros, they buy into these dips into the close, and then the next day the market opens bigger. Put that on your notes for how to make money. Now, there continue to be some dark clouds including, of course, covid cases, a lack of fiscal stimulus and just exactly what the fed is doing because so far not what they promised. In fact, the ecb is doing a whole lot more pumping than [inaudible] meanwhile though, earnings remind investors of fundamentals. Great earnings reports include disney, cisco