Security issue which has the Great Potential for souring the overall strategic discussion. I think it makes it hard. I think its essential for us to try to explore these ideas, but it becomes more of an academic or think tank exercise and less of a practical exercise if these sorts of perceptions create is much distrust. Last comments before i go out to the audience . Let me go out. We have a lot of hands and we have 10, 12 minutes. Im going to start with the gentleman way back on the left. Yes, you. Yes ill bill jones from executive intelligence review. Id like to just focus on this issue of the one road and one belt. Because it seems to me that the way the u. S. The attitude toward the one road, one belt will determine the course of human history. If it is willing to join this and to work in this, i think were going to have a flourishing of Economic Growth the likes which of we havent seen. We saw at the ufa conference nearly 50 of the World Population has said, we have to move in a
Its going to predict how it would react under a stress event. And so was the key one of the key issues is what how are investors anticipating this . Is this part of their Investment Strategy . And do prices reflect it, and do practice Risk Management practices reflect that . I think that there are two issues we have to separate as we address the questions you offered. Is there a liquidity crisis . The first is are we in the midst of a transition from one type of market to over. If over night, we say that ever bond dealer who works in a bank can no longer deal bonds, the next day it will be a little harder to buy bounds. No question about it, and sell them as well. But what will happen afterwards, the banks will sell their operations to hedge funds to other companies, to the employees themselves and theyll get reorganized to find the capital and make money, because there are opportunities to make money when people demand liquidity, by the way, theres no such thing anywhere of free liqui
Issues we have to separate as we address the questions you offered. Is there a liquidity crisis . The first is are we in the midst of a transition from one type of market to over. If over night, we say that ever bond dealer who works in a bank can no longer deal bonds, the next day it will be a little harder to buy bounds. No question about it, and sell them as well. But what will happen afterwards, the banks will sell their operations to hedge funds to other companies, to the employees themselves and theyll get reorganized to find the capital and make money, because there are opportunities to make money when people demand liquidity, by the way, theres no such thing anywhere of free liquidity. Liquidity always has some price, sometimes its low and wed like it to be low, its always, always priced. The first issue, is there a question of transition . And if theres a question of transition, how do we get through the transition quickly . Maybe we dont want to have banks dealing bonds. The
The spread widening as well, back above 80 on the back of these numbers. Have a look at my bloomberg. The movement in the number of fulltime jobs created on the chinese mainland. This is simply that ticker you see on the top left side of your screen. 2017 has been very good. 20,000 wes after the saw in the previous month. Not bad at all. That being said, it is simply realizing these jobs and adjusting for it later. It is a good set of numbers. The currency is being seen as a positive. Australia jobs in fulltime and parttime. It lets that is that look at the open in shanghai and p what do we have . A little downside on the open. Down 5. 2 . It is looking flat when you look at the csi 300. A batch of china data coming through in half an hour. Really interesting to watch the currency market. The aussie up 5. 3 , but he did see strength coming through in the dollar in the u. S. Session, up for a third consecutive session, weighing heavily on the euro, falling to a one week low against the
Happens. We are going to see what happens with north korea. We are prepared for numerous things. If something can happen where we negotiate, i will always go for that. That if it is something that is going to be other than negotiations, believe me, we are ready, more than we have ever been. Thank you very much. Thank you, thank you. President trump outside the white house a few moments ago. He is taking a helicopter the secret Service Training facility, speaking to trainees this afternoon. He was talking a lot about the speeches he just gave in the white house at about the iran deal. Was enumerating their essentially, kicking this over to congress. They will be dealing with sanctions. The Treasury Department issuing some new sanctions today as well. Imposing sanctions within 60 days, now the ball is back to congress. Robbers can decide what to do with that, but as far as the president goes, he is saying we will not continue to certify the Iran Nuclear Deal, also talking in his speech e