279 points looking at the treadsrys the 10year is at 0. 77 . That is nuts especially when you start to look at where we were a handful of months when people were talking about a 3 as rates go down cheaper this is such a panic move. Is it forecasting a Global Movement the problem is that everyone was worried that stocks were overvalued the problem is there is no way of gauging what the effects are. Everyone at this desk could have started throwing stocks at the wall people are going for safety and quality. These are panic moves im not sure it is unwarranted people will sell off first and panic later. Theyll say im looking out for a year or two or three thats probably what well reassure now can stocks bounce off the previous lows of 12 i think the market has to recalibrate to digest the lower yield and the market sitting across the table, stocks dont often bottom on a friday but the fact that everyone thought they werent going to bottom is the chance that they werent going to bottom. Bef
Welcome to daybreak australia. Were counting down to asias major market opens. Annabelle a flat lead in for asia with stocks nearing alltime highs. Jamie diamond said the bank wont buy back a lot of stock at current prices. Haidi a high anticipated earnings report. We hear exclusively from the c. E. O. Jenseng on. Annabelle a lot of speculation after the iranian kings death. Sydney futures down about a on the 01 . The nikkei futures seeing a bit of weakness. Pretty cautious setup from wall street. We are waiting for nvidia numbers, the crux of the frenzy, and can it sustain another leg further . We are seeing futures to mild losses in hong kong. A bit of a dip in australia. Perhaps a little bit of a gain in japan once we get start. Remember, were trading pretty close to near alltime highs for a lot of these major markets. Thats right. It was pretty much the same story in the u. S. Session. We had u. S. Stocks sitting around the multiyear highs. Treasury is inching lower in the session.
Consumer price data as well as retail sales ecodata. Noon, federal fed president Patrick Harker gives an Economic Outlook street speech. 12 45, the president has his annual physical exam at Walter Reed Military Center. Emma chandra has the first word news. Emma lets get you caught up on the headlines. The United Nations calls President Trumps remarks about immigrants shocking and shameful. He is said to have used foul language speaking to lawmakers about why the u. S. Accepted immigrants from haiti and africa but not places like norway. President trump will not say whether or not he has spoken with kim jongun. He refused to comment but says he probably has a very Good Relationship with the dictator. A germany, there is preliminary agreement and four months of political stalemate. According to people familiar with the discussion, chancellor Angela Merkel and the Democratic Party have attempted to form a new government, using more government involvement in education and changes to Health
The nasdaq is on track for its best monthly gain since july of 2016 the s p 500 is at its biggest monthly gain since last february the s p and nasdaq have risen seven of the last eight trading days if you were waiting for things to slow down, you are still waiting. Triple digit gains for the dow already this morning overnight in asia there were gains this came after the strength yesterday with the dow up 200 points. The hang seng was up by 1 shanghai was up by 0. 1 . The nikkei did give back some ground in europe this morning, there are some green arrows across the board. Gains of a quarter percentage point for germany and the ftse in london. The cac in france is up by a third of a percentage point. If you want to look at treasury yields which have been picking up ground, you will see the treasury yield for the tenyear, sitting about the same, 2. 544 lawmakers in germany reached a break through in talks to form a new government the euro rising. You need a government. Euro rising to new
That the ecb is continuing crude getting a nice bid on the iran conversation. Looking at the banks, bank of america up 6 10 of 1 . Wells fargo unchanged. It feels like a really solid quarter for bank of america on earnings. It was the Consumer Banking unit that felt really good. Loans and deposits were up. They werely only at 834 million. David it looks very solid but we looked back to yesterday and thought citi and jpmorgan were doing well and they turned over. Alix fic was down 22 . Is the focus for banks turning to consumer loaning, which will make wells fargo allimportant . We want to turn to Michael Mckee with a very special guest. Michael good morning. Washington federal and Eric Rosengren joins us on the boston fed annual Monetary Policy conference. A special welcome to the Bloomberg Television and radio listeners, particularly those on one of 6. 1 fm in boston. Thank you for joining us 106. 1 fm in boston. Thank your for joining us. Nice to have you in boston. Michael we know h