We did see a little bit lower. Julie i think the black screen behind you was reflective of the mood. That is what they are trying to convey after the headlines regarding the Corporate Tax rate cut. Already, there was some riskof sentimentsf risk off sentiments today and that sent stocks to the lows of the session. As welle of the majors as the russell 2000 now at the lows following the headlines. There has been a lot going on overnight. There were some gerbils and the japanese market, european stocks fell, there were some jiggles europeanpanese market, stocks fell. The u. S. Dollar also a late lower after we get the headlines. They came back up and then dipping again, down about. 25 . That have been something to watch. , we haveof trustees the bloomberg showing other proxies of the tax cut right here. The russell 2000, which we just showed, which has been sideways, lower over the last month or so, then we have the s p 500 in yellow, which has been mostly distant until today, and then f
Held up in april as Global Demand recovers. The forex reserves rose for a third month. Anna welcome to bloomberg daybreak europe. Manus Emmanuel Macron got the votes. The euro had 90 possibility that this event would happen. This is volatility overnight in the euro. You have things like the ecb. Yellow. Meeting is in it has dropped. Euro is down. Euro sterling is down, euroyen is down. Had alreadynagers covered sorry, they were already net long about this by the most on record. Buyn appalling phrase the rumor. Anna we do not know what the ecb will do as we go into june. We do not know how much of power makcron will have. Let us look at asian equity markets. At theng china come asian equity markets are doing very well. The chinese story is different. Down another percent on the chinese equity market. U. S. Stocks closing at a record. Jobs number was decent. All of that lifting the general sentiment but the chinese story is different. Billion loss in liquid chairs in the last month of a
1st. Is that what the date was . The fear gauge hitting the lowest level in more than two decades. The volatility index closing yesterday at 9. 77, the lowest level since december of 1993. I cant imagine thats not a place where you would buy. Though normal stocks that hit new lows what do they do . Hit more new lows. Stocks that hit new highs, hit more new highs. It can only go 9 more lower. Yeah. This only happened five times ever. Having always thought in a contrarian way that complacency and when people get participants get bullish, you worry. Call ratios, you worry. Percentage of investment services. If its that complacent i admit, okay, its not going to be le pen, but the world at this point, theres nothing that were not thinking about that could happen that could throw us for a little bit . It scares me. The flip side is if premiums are so low, you can buy insurance and remain long or replace your stock with calls. There are different ways to use this to your advantage to remain
Center said the remains of the couldst of beatriz dump heavy rain causing flash floods and mudslides. President trump has taken the battle over his travel ban to the supreme court. Justices will be asked to reverse a string of courtroom losses for the order that temporarily bars entry to the u. S. By people froms expert ominously muslim countries. A Lower Court Ruling said the singlewas directed at a religious group. True blood trying to determine the identification of the man they say once to detonate a bomb Authorities Say he was armed with an Assault Rifle and set a casino fire that killed at least 36 people. Islamic state claimed responsibility for the attack. Philippine Officials Say it was a robbery gone wrong. Joe julia live from bloomberg world headquarters. Joe were 30 minutes from the close of trading here in the u. S. Joe julia u. S. Stocks rising to records while bond yields hit 2017 lows. Joe the question is whatd you miss . Scarlet a weaker than expected read on the job m
Why . Because of comments out of the delayed speech. Mark carney seemingly talking of holding off weight kite rate and weaknesses in domestic inflation pressure. This affects the u. K. Yield, so bonds are rallying. Up about. 1, but not seeing that correlation we usually see with the british pound. That seems to have broken down and barclays, down. 25. Four former executives charged of conspiracy to commit fraud. We will be taken that further as we go on. We have had a weaker day for the pound. This is on the back of england government saying they are worried about the impact of brexit on the economy and mark carney signaled they will not be rushing to raise Interest Rates. Given the mixed signals on Business Investment and Consumer Spending, and the inflationary pressures that are subdued and anemic wage growth, now is not yet a time to begin that adjustment. Francine joining us is , and they willr give us their take, simon, it seems as though from philip view,ds points of finances rea