Green arrows across the board in europe the dax is up by 0. 3 . The cac adding 1 . The focus again today, because yesterday it was the fuel for that whipsaw action, treasury yields, 1. 727, much firmer than what we saw yesterday. We saw a low of 1. 595 we had record lows across the yield curve. Thats worth noting. A lot of strategists saying we could test 1. 35. Beijings central bank setting the official reference rate for theyuan to the weakes level in a decade. Eunice yoon has more on the midpoint number that traders are watching they do it now at 9 00 p. M have to watch all the time eunice its worth it its worth it to stay up that late the central bank set the midpoint fix weaker than 7, but it was actually stronger than what a lot of analysts were expecting. So because of that traders were taking that as yet another sign that the government here wants to pull the reins back on the chinese currency there was no official commentary today on the fix it was interesting to see what came
Most since 2008 after accusations of fraud. Matt good friday morning. A historic week in markets. One in which bank of america says we have seen traders rage for safe havens like we have never seen before. Part of the reason why we have seen yields plummet to alltime lows. Nejra what a week it has been. Whipsaw in yesterdays session. We are stabilizing a little bit. Haveabove 1. 5 but we dropped more than 20 basis points on the 10 year yield this week. The curve in birding for the First Time Since 2007. We are above zero now. Close toar yield stays 2 . In terms of other safe havens, that is part of what banc of america was planning to as well. Matt talking about the rush to the yen, rush to gold. The 10 year yield and 30 year yield. We do see the yen strengthening up a little bit against the dollar today. Off. Coming but still relatively close to the record high. A bit of awe see risk on read across futures. Amidst this local bond rally, japans benchmark yield has fallen further below
Points in terms of the peak to trough. Every day this month, we have een 00point swings in the Dow Jones Industrial average. Level. Closing lowest first year, lowest yield ever and the spread gets below since 2007. Numbers the dow, 30 1 . Lower than by at least the s p 500, taking a look at a chart that we have now, five sessions in a row. Going to keep the score. Set the stage. This is a 50day moving average in yellow. At the start of last year, once below that average, it couldnt get out of its own way. The buyers really did step up and had a nice rally and absolutely slicing below it. In may, we had a bout down below the 50day and sally, you are below that 50day moving average. It looks likely we will go down to the 200day average. If we go below the laszlo of 2822. So things could get bear tissue pretty quickly. It could get bearish and looking at one of the biggest stories. The inversion. Look at this chart and see Global Economic slowdown continues that inverted gap in rates for
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Turn. Oil gains for the first time this week after saudi arabia signals export curbs curbs stabilize prices. Shery lets get a quick check on how markets performed. We see u. S. Futures under pressure right now, down. 3 . We just got the news that the white house has halted temporary licenses to sell to huawei. That is putting pressure on the market, dampening Investor Sentiment after a strong day on the markets here on thursday. We saw the s p 500 gain the most in two months. Was in the green actually managing to erase the losses we saw earlier in the week. We saw tech and Energy Leading the gains. The nasdaq up for a third consecutive session, up 2. 25 percent. Energy was also up in the session as we had oil gained ground. We heard saudi arabia was contacting other producers in order to find a solution to stem declining prices as trade tensions continue between the u. S. And china. We are seeing u. S. Futures rapidly declining at the open on the latest news on wally huawei. Lets see h