Things out youll never be whipsawed and you might catch a move like we had today where the s p gained 5. 6 and the nasdaq folded 1. 05 per. You know what caused todays rally . Was it it tthe incredibly move draggy who is singlehandedly getting the eurozone out of the deflationary doldrums . No. Not really. As we know from the soggy stock market opening despite the news coming out an hour before the opening bell. [ bell ] was it more deal talk . This time the potential for a giant sprinttmobile tieup, hardly because both stocks were up fishlly, spreading lots of good feeling it it wasnt long before we realized there was nothing imminent and the journalists who penned these pieces incorrectly failed to crib for fr my squawk on the Street Partner david faber, the stories were a tad too breathless. Was it industrial earnings from joy global who had a rebound and impactful notes on a few down and outers, think whole foods . No. Not a chance. Thats way too one off. So then what did happen .
Welcome to todays worldwide exchange. Im kelly evans and these are your headlines from around the world. George osborne is set to make plans to break up banks. Well bring you live coverage of that highly anticipated speech. A Corruption Scandal weigh owes mario rajoys party as he prepares to step down. We should assume that might win this discussion. It will completely break down. And the other side of the story from bumis cofounder. And its extraordinary comment for the chairman of a British Company to make. That seems to be the main thrust of his argument to win this. And its wrong. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. An extraordinary back and forth there on this monday morning. Welcome to todays worldwide exchange. Ross westgate is away but well do our best without him. We have Michael Brown to help us through things. Coming up on the program, well head out to hong kong where china is requiring a reinstruct during of the eco
Doug. And doug has lived all over the world and as such has lived quite a bit of time in japan itself. So its great to be with you tonight as well, doug. Lets see. In terms of this whole notion of the book, you know, by the way its a very modest title, banker to the world. [laughter] when i heard of this, and im a very close personal friend of bills, like everybody in this room is, and so when he was talking to me about this concept of what he wanted to write about, lessons of debt crises and all of this, i just knew that it was right in our sweet spot in what we needed to be able to do. So we were able to convince him, and so now im not talking to you as his friend, im talking to you as his publisher. [laughter] and we had this decision we were going to do this book, and we did. Now, the ink wasnt even dry on this book when Henry Kissinger came out and said this is a must read for anybody in any section and at any level of the finance industry on that one. Well, no sooner did he do th
I dont see this impending huge selloff in treasuries. Listen to the dovishness in europe with regard to a variety of issues, not the least of which is they are worried about a high euro and growth in some of the southern countries. Yeah. What did you i do see it playing out in high yield and corporates. Quickly if you look at barclays, onemonth spread on Investment Grade or the etflqd, you can see they have lost a lot of ground, and the one that was the best high yield, the next two charts, this is really giving it up, so i think thats the battlefield for maybe some of the nay sayers on treasuries. Its more what they reached for three to eight weeks ago that they seem to be dumping. Rick, what did you think of Mario Draghis News Conference this morning, the president of the European Central bank, as expected, didnt cut rates, but he was talking the euro lower pretty clearly today, wasnt he . Oh, absolutely. Listen, the Foreign Exchange group down here is a pretty savvy bunch, and for t
Referendum results. The eu has voted to leave the European Union. And in the aftermath of that, the british Prime Minister David Cameron has said hell resign in around three months from now. That will take us up to october, the time of the British Political Party conference season. So thats the time when David Cameron will go. Now we await to see who will step in to lead britain in this new route. The people of the uk voted to leave. And a couple of hours ago, David Cameron saying hed resign as Prime Minister. Obviously, president obama in the United States has been kept informed overnight. The president is on the west coast in San Francisco doing some events concerning entrepreneurship. Its expected that mr. Obama will speak to David Cameron some time in the next 24 hours. Obviously, to determine how the relationship between the socalled special relationship goes on. Even though nothing changes immediately. As for the Prime Minister, he has just seen his political life implode. He sai