Caroline lets take account to City Private Bank chief economist, stephen whiting. How are you looking across assets at the moment in terms of where you allocate . Not only stocks falling but bonds falling on the same day. Optimism that perhaps yields have fallen too far, too fast. Well, we are a bit underweight global fist income global fixed income. A think this will still be volatile environment. No substitute except for u. S. Hedges,es, some literal not terribly well in the full economic recovery we expect. Underweight fixed income portfolio. There is really no substitute for the safe haven assets. The strategic return estimates have come down. Fortunately, u. S. Yields, when you look at missable bonds coastal eddy good premium to municipal bonds, still at a good premium to the world. They were already priced for crisis. With those, we want to really take them out of portfolios because of valuation issues. Romaine i was looking through your midyear outlook. Because, interesting am w
A 60 percent of brazilian support stricter social distancing measures in stark contrast to their president. And Stormy Weather forces spacex. To postpone the launch that will make it the 1st private company to send astronauts into orbit. The u. S. Secretary of state has the liver to withering statement on china saying its abandoning its commitments to preserve hong kong told me my pompei all says the proposed National Security legislation for hong kong is a disastrous decision and means the city no longer warrants special economic treatment thats a move that puts of risk billions of dollars in trade in this statement said no reasonable person can assert today that hold. Well maintains a high degree of autonomy from china given facts on the ground he went on saying it is now clear that china is modeling hong kong after itself from pale finished with the promise that the United States stands with the people of hong kong as they struggle against the Chinese Communist partys increasing the
Virgin australia tracks interest from indias largest by just budget carrier. Shery lets get you started with a quick check of how the markets are trading. We are seeing u. S. Futures under pressure, this after the regular session ended mixed. Markets pretty optimistic about reopening some parts of the u. S. Economy, but also a bit more cautious given that we have seen flareups around the world. The s p 500 finished unchanged. Health care led the gains, but financials weighed on the index. The nasdaq composite getting for the sixth consecutive session, outperforming again. The longest winning streak this year. Take a look at what oil is doing. Wti gaining ground, above 24 a barrel. This after it fell and erased earlier gains in the new york session. Tohave saudi arabias plan output, providing a boost but that was not sustained. We have opec given its Monthly Oil Market report on wednesday. Haidi in the u. S. , President Trump has responded to reports china is considering scrapping the p
As more nations and states move toward reopening, we ask what needs to be done to make it safe. We hear from Johns Hopkins university. We hear from Johns Hopkins university. Lets take a look at how we are setting up in these markets. We had mixed messages from wall street overnight as investors try to make their way through the global reopening. Asianlook at how the session is shaping up. The globaler we saw cell overnight, there could be little and the way of conviction for asian markets this morning. Futures fluctuating in the asian session. Off by slightly here. We have kiwi stocks getting grounds by. 2 . K futures in Chicago Holding on to three day ahead of a heavy earnings day in japan that will include names like toyota and honda due out later this afternoon. Today we are washing for the topics potentially push into a bull market with optimism for parts of the economy restarting. We could see wider headwinds weigh on the asia session. Checking in on what is going on with bonds, a
With overwhelming debt in argentina now the pandemic is making the Economic Situation even once. And a milestone for iran but a cause for concern from the u. S. As the country launches its 1st military satellites into orbit. Now u. S. President donald trump has dismissed the possibility of a severe 2nd wave of corona virus infections in the year that during his Daily Briefing he asked the director of the u. S. Centers for Disease Control and prevention to clarify his earlier remarks that another bout of infections during the flu season could be even worse than whats being witnessed now around 840000. 00 people have been infected in the u. S. And nearly 50000. 00 have died those are the highest numbers anywhere in the wild. Well you know. We were not because we could have some leverage a groan and you could have a big blue system and if they combined your thing come together they come together its not great but we will not go through what we went through for the last 2 months getting a