24 on steel imports from all countries. Isnas Commerce Department beijing will take the necessary measures to protect its own rights. Noble group says it is confident that rebuilding its business and asia despite flagging a fourthquarter net loss of up to 1. 93 billion. They are restructuring talks with stakeholders have been productive per chair holders have criticized a deal announced last month to restructure 3. 5 billion worth of debt. Indias ceo bank says it has exposure of about 412 million to a fraud against a bank in a case linked to a billionaire. Three people have been arrested over the alleged 2 million scam, including two employees of pnb. They are accused of using fake pnb guarantees to fraudulent lee obtain loans. Bankers are said to be at risk of losses. Bridgestones sale as the tokyo opened after it missed estimates per guidance released after the friday close for operating income of 3. 5 billion. About 4. 5 below the average it was based on a Dollar Yen Exchange rate o
Looking at the worst week in two years with all of the averages well see what happens today its been interesting to watch volatility to see whats going on meantime, lets take a look at whats happened overnight in asia the nikkei was closed for a national foundational day holiday in japan the hang sentence down over 0. 1 shanghai composite and stocks in south korea higher with the kospi at 1 . In early trading in europe, you can see things are in positive territory as well. Big gains. Gains of 1 or better across the board. In fact, the dax is up by 1. 9 right now. Then if you take a look at treasury yields, this is a big story. What kind of inflation do we see. The tenyear is yielding 2. 88 this week, were going to be getting inflation data cpi on wednesday and thats something that else to see if inflation is really out there. A couple big stories were watching before we get back to the markets. Vice president mike pence said the u. S. Is open to talks with north korea but will continue
Inflation. Inflation. I wouldnt read too much into one print but there is clear i would say the slack in the economy is quickly disappearing if theres any there, and the market has not price that in yet. What we are seeing now is an adjustment, but if the data keeps coming through, there are going to be more and more adjustments for the market to reckon with. Nick when you think of inflation, the big you are missing though is the international by mentioned, and in theot just inflation u. S. Going up, take a look at europe. 2. 53. 52 poor percent 24 and if that is not inflation, i dont know what is. Jonathan it raises the question whether you do get a treasury or if this becomes a global bond market downturn. Is it the lateral or the former . Particularly the last couple of years, the narrative has been on mobile flows on Interest Rates, and global qe. It is a call determent relationship where you have all of the factors. We take the focus of what the fed says and the dollar is preemine
Of core inflation is going to move to a higher trajectory in the next couple of months. If think there is a chance of inflation in the economy any see strong Growth Numbers coming out, that is going to bring volatility back to a more normal environment. The 10 year near 3 makes sense. That price is in four hikes, a lot better than six months ago. When we get a big selloff in equities, it will be because of a selloff in bonds. Bonds will lead equities down the next time. We have not yet seen it, but the idea that bonds will be a safe haven, i dont really get. The likely selloff in equities will come because bonds have to reprice because we have inflation. Jonathan joining me around the table in new york is jeffrey rosenberg, chief income strategist at blackrock, kathleen is from eden park management, and from london, nick, from jpmorgan asset management. Its great to have you on the program. The idea that bonds have no longer given Risk Mitigation quality, equities turn a lower, bonds s
It is stronger than we expected. We felt for a while that the pot of core inflation is going to move to a higher trajectory in the next couple of months. If think there is a chance of inflation in the economy any see strong Growth Numbers coming out, that is going to bring volatility back to a more normal environment. The 10 year near 3 makes sense. That price is in four hikes, a lot better than six months ago. When we get a big selloff in equities, it will be because of a selloff in bonds. Bonds will lead equities down the next time. We have not yet seen it, but the idea that bonds will be a safe haven, i dont really get. The likely selloff in equities will come because bonds have to reprice because we have inflation. Jonathan joining me around the table in new york is jeffrey rosenberg, chief income strategist at blackrock, kathleen is from eden park management, and from london, nick, from jpmorgan asset management. Its great to have you on the program. The idea that bonds have no lo