What we are get interesting the university of Michigan Sentiment survey. The headline number, way, way weaker than anticipated. That number coming in at 77. Thats down from 81. 8 last time around. When things are good well north of 100. The expectation was for 82. Current conditions, 85. 8. Thats actually ahead of expectations. But its the expectation number, the forwardlooking number here, that is really sharply lower. Coming through at 71. 3, alix, versus 79. 1 in terms of where the market, the economists had forecast that number. Down from 79. 2. A much more gloomy outlook for the u. S. Consumer from the u. S. Consumer. Alix no doubt. As covid cases are spiking everywhere here in the new york, it feels like we are headed for a School Shutdown as well. Get the read on what that means to the consirmse with ajay. Its always good to get your read. You have this more pessimistic expectation outlook from the consumer. Then you have rising covid cases and you have targeted regional shutdow
Lot of sunshine. Thats going help to heat us up so theres your billing could a fog just right along the coastline, a very thin layer of low clouds that has pushed on into the bay area this morning temperatures right now are in the 50s and 60s a cool morning for coastal spots, 60s right along the bay. Go ahead open the window, let that cool breeze and while weve got it because yes later on nothing cool about it highs back into the 90s inland with bayside areas in the low 80s. James, all right john thank you at 8 oh one lets begin with the very latest on the coronavirus pandemic. The u. S. Now by the way recording more than 3 million infections. And a 132,000 deaths and this map illustrates where the hardest hit areas are across the country. California as you can see along with all these other states in orange. Theyre showing a 10 to 50 increase in cases compared to last week and then you have the cases in red like you see there in montana theyve seen cases jumped by more than 50 from th
Throughout this conversation, you have been talking a little bit about the housing market. It was interesting that the university of Michigan Survey actually now says that about 64 of people think it is a good time to buy a home. Fannie mae came out with a survey today. They are showing a nine point increase, to now 76. 5 of the survey respondents would like to buy a home, that now is a good time. A lot of that in part is due to valuations. Then the low mortgage rates, as you assume lower for longer thanks in part to the fed. Very curious as we sort of touch on equities and go into real estate. Before we get onto the election risk. That theot surprised university of Michigan Survey would be positive, because rates are low. People are not walking through a home. I dont know anyone who would buy a home virtually. Most of the home sales are people who had seen the property ahead of time before we had all the shutdowns. Commercial real estate, where we invest, it is impossible to figure ou
Warns of a major decline in asset prices if the pandemic worsens, also saying commercial real estate could endorse , and flags stress risks with regard to financials. We are going to dig deeper later, but this is quite the yearly report. The main headline here is that there is a major decline in asset prices. Also crossing the wire right at, march investment inflows 350 billion. 349. 9 if you want to be precise. Still with us is the Capital Markets u. S. Equities strategy head. Lori, when we get past what weve seen in equities, can you talk to me about what we are seeing in the treasury market, specifically with some of the expectations we saw late last week that the fed might have to go into negative territory with its nominal rates. There is still this concern that given the fed support and the trajectory of the economy that some sort of near zero if not below zero rate policy may be in the cards. What do you make of it . Negativeonomists think rates are unlikely at this point. What
Off towards this tiny sliver of sand upon which hung more than the fate of the world. But rather the course of human history. Today we remember those that fell and we honor all who fought right here in normandie. Watched cspan slip all day coverage of the anniversary of the day thursday, january 6 featuring a speech by President Biden from normandie france. Now, texas senator ted cruz along with the attorney general of South Carolina, alabama and iowa talking about legal action against the Biden Administration and the legitimacy of the current Supreme Court. This is part of the Republican National Lawyers Association conference in Arlington Virginia r in jefferson city, missouri. Its a pleasure to start the conference off but maybe i am a little biased to say is traditionally the best panel. Nothing you have to worry about too much snow high bar to get over. We are not going to lower expectations, or going to raise them. This is the panel that really looks everyone of the room know wha