A whole bunch of other smart people set lower for longer. That is the message this morning. Futures up 19 but to me, the story is the bond market. As you know, those huge negative and persistent real yields. A range of assets and securities, it is interesting to see dollaryen breakdown. Still, equities are firmer on the day, futures up by 6 10 of 1 . We do this going into a battle down in washington, d. C. As long as it is just about size, we will have an agreement. These negotiations are now about thats great, but that means there is a timeline and i dont believe we have the luxury of a timeline because in the state of ,he economy, the unemployment the economic dynamics dont give you a comfortable august. Dont. Incentive to say we not negotiating until you negotiate. Right now, looks like new market is not picking up on it. There are some real nuances, maybe start off gold. Treasury yields down a basis point. Weve broken out of that sticky range for 0. 58 . The lows very much insight
Conference. I still dont have a time on that. All of the other news flow, minneapolis, this whole twitter flap. To me, what is extraordinary is june beckons. Nothing is more front and center for me beside the june 5 jobs report. 41 million is where we are unemployed. To me, that is the dominant crosscurrents right now. Jonathan youve picked up on this again and again over the last couple of months. 20 could be the Unemployment Rate when we get the numbers next week. We talked about next steps on fiscal policy. Ive heard little this week on that topic. Tom Henrietta Treyz was brilliant on this in the last hour. When do they help the states . What is fascinating is the federal government doesnt help the states until there is a crisis, so theyve got to wait to see four or five states say we are in a crisis, we are running out of money, do something. And then i guess it all happens over a weekend. Jonathan i think most would say it is likely that is going to happen. Some would say it is in
Global economy and what about the threat of cyber security. The morning, everybody. You are watching Market Makers. Do we need to tell you where we are . We are at the World Economic forum in davos switzerland. We have to talk for a moment about the ecb. Mario draghi is going big all in. The ecb president announced a 2. 3 trillion asset purchase plan, better known as qe. Bigger than expected. Investors have responded by selling off the euro. Hans nichols was at the News Conference in frankfurt, germany. You have to explain this to us. This is a massive number. We were saying what about 500 million billion . Im having a like the movie with dr. Evil. And austin powers. Here is what we know. Here is what mario draghi just said in frankfurt. Remarkable in so many levels. 60 billion euros a month through december of 2016. They get you up to 1. 1 trillion euros for all asset back securities. And crucially, it includes it sovereign debt. Here are the limits. 25 of each issue no more than 33 o
And it will cost them millions of dollars. Welcome to Market Makers. I am stephanie ruhle. My partner, Erik Schatzker, will be here shortly. Lets take you to the bulletin the top business stories of the morning. We havent seen the dollar this strong against the euro in almost a dozen years. It is now approaching parity. Earlier today, the euro crashed through the 106 bubble and the dollar is up 11 this year, 22 since last june. The stronger dollar will hold down inflation and consumers will see lower prices on important imported products. Bond guru on the west coast has a message for the fed raise rates at your own risk. Even janet yellen may make the same mistake as counterparts in europe, raising too soon and then having to cut again. In an investor presentation, he also predicted that gold could climb 20 this year, and he says you should not bet against the strong u. S. Dollar. Airlines in the u. S. Are expected to have a great spring break. The trade Group Airlines for america says
Stocks completed another week around record highs as the latest jobs report revealed a slowing US labor market, but not at a rate that experts are concerned about. The Nasdaq Composite (^IXIC) increased by 2.3%, while the S&P 500 (^GSPC) increased by approximately 1.3%. The Dow Jones Industrial Average (DJI) gained roughly