On the year did not deliver perfection, so we have the big tech stocks selling off. That is a big market drag. Looking at the worst week going back to march. David but they are not buying bonds. What is that about . Abigail it is interesting they are not buying bonds, they are not looking for that haven hedge against the stock. It tells you may be investors think the text selling will be a oneweek type of thing, although a second week in a row, or it could be to your point from earlier around the fed, the ultimate buyer so it some point the fed will be back in. Not that big of a deal. Harder to look at bonds as a cross asset tell given the fact you do have the fed in their. You have the yield curve steepening. That could cause stocks to get more jumpy. It is healthy to have the yield curve steepening, but it can create gyrations. We have oil lower. Do your point they are selling everything on this friday. Guy thank you so much for that report david site you thank you so much for that r
Americans are still spending and they still have the money to spend. David and they are optimistic. Mike not only did they hang in the numbers showed the lowest Inflation Expectation in history for consumers over the next five years, just 2. 2 . Whetheris worried about Inflation Expectations get on board. T makes the on board unmoored. For is something to look in 2020. Kevin now we are going to in los angeles. What were the principal takeaways . Kevin im not sure there were major changes in the dynamic of the race. Two things coming from joe biden. He was able to successfully contrast himself to Bernie Sanders on medicare for all. After the debate, i spoke with some officials in the campaign that said they were satisfied with that aspect of the performance. I would note how he talked about china. He would want to work with the united nations, a contrast with the current status quo. Now we go over to london. We have a new head of the bank of england. What do we know about him . Andrew b
The currency is also higher but it has taken over the conversation and brazil. David he said brazil and argentina were devaluing their currency. What has the central bank been doing . Julia the central bank has been trying to pop up the currency. It has late due to several factors, including the dollar being strong worldwide. A lot of it is not tied to brazil. There was some disappointment in the oil option. There were a lot of factors behind it. Argentina had the election earlier in the year and have currency controls for a while. They are not doing anything. The central banker is speaking at a luncheon and has just reiterated that the brazilian is a Floating Exchange currency we only intervene when there is dysfunction. David give us a sense of how important steel exports are from brazil to the United States. Julia is one of the biggest export products between brazil and the u. S. , the secondbiggest, trailing only oil. In terms of civil exports as a whole, it is not a lot. Brazil ex
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