Thrilled you are with us on Bloomberg Radio and bloomberg television. It was not the surprise of moderna on the ratios. It was the surprise of how well they are able to get the vaccine out. That lifts markets up. Is a correlated left pop it is a correlated lift. Jonathan maybe the message is dont bet against human ingenuity. Keep the faith and the science. Last week it was pfizer. This morning, moderna. The efficacy rate, 94. 5 . It is where the rally is that gets peoples attention. It is not the big cap tech. The story that rolls up his smallcap america, and the International Value story as well. That is the great debate of this very moment, the shortterm problems, the issues across america, and the longterm hope that we get that texting. Tom lisa, what do we see we get in the vaccine. Tom lisa, what do we see in fixed income . We are not at the full faith and credit of november 9, but what do we see in ig and highyield, as we see yield up, price down . Lisa yield up with full facing
We have the travel and leisure stocks popping sharply higher. On the other hand, the stayathome trade, the zooms and the pelotons are down. Interesting to see how much of our behavior trickles forward into the future. Right now those stocks are being sold off. The one piece not quite fitting into the puzzle, bonds just about flat. Bonds not selling off. That may stick to the more difficult months ahead as the vaccine is raging here in the u. S. The virus is raging here in the u. S. Ahead of the vaccine getting out there. Bonds more nearterm looking at the reality. Stocks more optimistic, doing with the s p 500 does. Later alix david would be speaking with dr. Celine gounder. Paulsontime ago, henry appeared at the Bloomberg New economy for them and set a comprehensive new approach to u. S. Relations with china. We welcome him back to balance of power. Lets spend just a minute on the new Economy Forum. We are about to Revenue Administration in the white house. We will hear from the presi
Approaching that 103 level. That would be a breach of a technical and psychological level. . 99, 2. 7 top the upside. After the biden victory, gold as well seeing three straight gains three Straight Days of gains. Joe biden preparing to take office as the 46th president of the United States. He is moving forward as president elect, launching his transition effort and readying a plan to tackle coronavirus. President trump is refusing to concede, weighing more legal challenges. The people of this nation have spoken. [applause] they have delivered a clear victory, commencing victory. A victory for we the people. I pledge to be a president who seeks not to divide, but unify. [applause] who does not the red states and blue states, only sees the United States. Our work begins with getting covid under control. Economy, repair the restore our vitality, or relish lifes most precious moments, hugging grandchildren, children, birthdays, weddings, graduations, all the moments that matter most to u
First wave of the coronavirus pandemic. Austria is doing well as well. Are seeing the dollar at levels that we have not seen for Something Like two years. The falls in the dollar taking place overnight. Yenre seeing the japanese clamber up as well, reaching the 104 level. 103 yen. Terry gou. That is the current position. Kong is declining just a fraction at the moment. That is where we are without one. That is where markets are standing. Haslinda. Lets get back to our top story. President trump has attacked the credibility of the election, challenging counts and nevada, pennsylvania, georgia, and michigan. Speaking at the white house, the president made several claims and said that the election is being stolen from him. We will not allow the corruption to still this election or any election in that matter. We cannot allow anyone to silence our voters. Haslinda joe biden is urging patience and saying that he is no doubt heading to victory, in an election that hinges on seven states. Mr.
Via the coronavirus, and there is not much of the fed chair can say. Coronavirus is making all the decisions on the economy. Weakersales coming in than expected, actually the weakest since april. The High Frequency we have seen since then suggest the economy is slowing even further into november. The problem of course is there is no help from the fiscal side in washington, no talks about any additional covert relief package. Getting to the end of the year, most of the cares act expires. So people are looking to the fed, particularly people in the markets. They are looking at the yield curve, which has steepened slightly, still under 1 on the 10year, but there is a feeling that if the fed wanted to do something they could start buying at the longer and, changing the weighted average maturity of their purchases. If they did that, push down on Interest Rates. There is a feeling they may do that in december to send a message that we cannot do a whole lot to stimulate the economy but we are