For the entire day after its worst ever outage. The hardware breakdown is to blame. European leaders gather for a special summit in brussels. Relations with china and sanctions on belarus top the agenda. Isnt butecovery fund concerns linger. 9 00 in dubai. Good morning. The risks of a Government Shutdown have been taken off of the plate. I have the image in my head between nancy pelosi and mnuchin. It sounds like the white house is moving forward. Mitch mcconnell, are we closer to a deal . He says we are miles away. Annmarie he seems to be pouring cold water on that idea. The democrats did postpone that vote for the 2. 2 trillion. Maybe we can get something on foxbusiness. Obviously, you dont want to hold your breath. Already, strategists said that the growth for the year is going to be dim because of this. What im focused on is these job losses. Exploding. That is sounding an economic alarm of the real pain in the real economy, not the financial markets. Manus on the other side effect
The nasdaq above 94 on weakers trailing sterling. The European Council president had to quarantine because of a covid19 test. Pretty in europe and britain. Back here, jay powell and treasury secretary Stephen Mnuchin testifying before the House Financial Services committee with chair powell saying the economy has a long way to go and will likely need further fiscal support. Secretary mnuchin saying another round of stimulus should be targeted at kids and jobs. Joining me now is greg valliere, Agf Investments chief policy strategist. The secretary said there was bipartisan support for further stimulus, so why are we not getting it . Greg i think nancy pelosi and the democrats wanted at least 2 trillion, and that was too much for the republicans. Vonnie at the same time, there should be some kind of mechanism for getting to a neutral place. What are the obstacles for the republicans coming down a little bit, democrats staying where they are . Greg it is maddening to see this. Frankly, if
There we have active futures on the s p up by. 5 . Nasdaq as well. Just seeing what is likely to happen with the start of the indian session and about one hour and 44 minutes. Nifty gaining about. 2 wednesday, looking like we are adding to it. Have some news as well. There were fears among bond traders bond that could have played havoc on the bond markets. That is the yen. We have the pound which has been emerging as a strong currency against its u. S. Counterpart as we get brexit negotiations taking place and certainly it is the way the u. K. And European Union come to an agreement as to what happens after the u. K. Officially leaves the European Union. Seeing some progress with regards to all that. Haslinda lets get the first word headlines for you. President trump signed an executive order to expand u. S. Production of Rare Earth Materials. Amid concerns that Global Leader china they restrict exports. They are used in a vast range of goods. China accounted for 80 of americas imports
No choice but to start over and thats exactly what todays show is all of ours to this day the truck bond or trabi is the symbol most associated with east german industry the now iconic vehicle was manufactured in the city of stick in the state of saxony it was known for being unreliable and extremely polluting but 30 years on change is brewing in its birthplace today spic how is home to one of folks logged most innovative car factories. Call manufacturers are scrambling to catch up and get ahead of the future is unlike trying means abroad to go transformation of japanese Auto Industry suppliers are struggling in west and eastern germany im sure but nobody. Electric cars need to have a tree. What they dont need to get cases like this because they dont have multi speed good boxes. And that is a major problem for young. He heads the Works Council thats a company that makes cases d. T. H. Height and now the workforce numbers more than 300. 00 chinese i can tell you that there will be perso
Profits would benefit under that scenario. Tom what is the theoretical justification now for owning such a low coupon . Caroline so this is the big debate, isnt it . Beijing provides stability in portfolios when you do get the downturns, the bonds still act in that manner. With the help of that perspective, in terms of our preferences in the bond space, going to areas where youre getting more yield, so emerging market bonds, for example, where the income is a bit more attractive. Are, theok at where we reset in q4. Is this a moment of drama for you in terms of reset and reallocation, or is it a q4 steady as she goes . Caroline i think it is important to have a continual rebound and seeing portfolios throughout the year on a regular basis as markets move. Whether we are into one quarter or another doesnt matter so much. We have had the peak economic upping if you like from the virus lockdown, so that is quite helpful, but it will fade as we go forward. But our expectation is that we ret