The crown a virus has infected more than 2400000 people globally its taken more than 160000 lives while some countries are seeing a flattening curve others are still seeing a surge in new cases coppa 19 has infected more than 766000 americans while thats in the u. S. Have topped 40000 new york state which is finally seeing a drop in new cases announced that its going to begin aggressive statewide Antibody Testing this week protests continue across the u. S. Over shelter in place orders amid pressure on governors to reopen local economies at sundays briefing president said that hell use the defense production act to increase manufacturing of testing swabs while working with governors to reopen their economies with the governors doing a better job than others. The robust capacity that weve brought online will empower governors to deploy sophisticated strategies so they can safely reopen their states. Some people believe in test. And other people believe in it less strongly but still its
Around 250,000. The u. S. Planes china. Blames china. Warren buffett bails out of u. S. Aviation. He says the coronavirus has changed the Airline Industry forever. Shery breaking news out of south korea, getting Consumer Price inflations. It is an deflation territory. This is now a contraction of 0. 6 . This is a bigger decelerations when itt was expected. Comes to the year on year figure, a little bit better, still accelerating, 0. 1 . Suffice it to say there is a lot of pressure on Consumer Prices and we have had social distancing measures continue to dampen command demand. You strip out a little bit of energyactors including factors, cpi still accelerating 0. 3 but missing expectations. This would lead to more pressure on the bank of korea to do more. Bloomberg economics expecting a 28e cut as soon as the may meeting and further measures to bolster liquidity. Look at how markets are trading, seeing Downside Pressure for kiwi stocks falling more than 1 , the lowest level in more than
The krona virus has infected more than 2400000 people globally its taken more than 160000 lives while some countries are seeing a flattening curve others are still seeing a surge in new cases coppa 19 has infected more than 766000 americans while thats in the u. S. Have top 40000 new york state which is finally seeing a drop in new cases announced that its going to begin aggressive statewide Antibody Testing this week protests continue across the u. S. Over shelter in place orders amid pressure on governors to reopen local economies at sundays briefing president said that hell use the defense production act to increase manufacturing of testing swabs while working with governors to reopen their economies over the governors doing a better job than others. The robust capacity that weve brought online will empower governors to deploy sophisticated strategies so they can safely reopen their states. Some people believe in test. And other people believe in it less strongly but still its a ver
Great depression. Shares of u. S. Bank stocks looking very weak compared to tech stocks which have been guiyang the which have been buoying the rally. What an incredible rally, the huge losses on the back of jobs numbers which we are getting too used to. Taylor it was incredible, looking at some big losses and in the final hours or so, managing to reverse that and post some of the gains. The only sense of caution is tech is not leading the gains. Tech for one of the first few times has been the underperformer. On the downside in the last two days. The good news is it was not leading the losses. You have microsoft, facebook, being held in a meaningful way. When they are not leading the game on days like this when you would expect to see outperformance, that has people cautious about really the strength of the rally. Quickly, saidere if someone was not watching the stocks already, you should be. If you want to believe in the strength of the rally, you have to see the Big Companies start
Lets have a look at those markets that seem absolutely impervious to what is going on in the real economy. The dow is up 1. 5 . The s p is up 1. 5 . The nasdaq is up 1. 6 . Gains on companies that had a good quarter, including news corp. , although advertising was down. Bit off ofg a little its stock price. In its comforts own, 66 basis points. Just off of our high on crude oil, just short of 24 a barrel. Lets get into the Market Action with taylor riggs. Theor you mentioned 10year yield. I also wanted to mention the twoyear yield. Overnight, dipping below 12. 5 basis points. Getting a record low. The futures market is also pricing in negative rates, that at some point over the next 12 months. Jay powell said that is not the direction that he wants to go, but the markets seem to think negative rates could be in the future. The twoyear yield at 12 basis points certainly catching our attention. Over the last five days, down seven basis points or so. , what look across asset it means for