One. Bloomberg businessweeks editor joel weber is here. What a fascinating read. It was not what we were expecting. Joel no, this was the culmination of a yearlong project, with a writer who was going to travel around the world and wanted to come to us with something special. So we wanted to come up with an amazing idea to hear from laborers, workingclass people who most of us would never hear from. Carol what is fascinating is that it is a global story that took a lot of time and a lot of reporters and translators. Joel so basically, as she went around the world, she would look for people that she thought would embody the spirit of the local community. The beauty of this work is that it captures their voice. We hear from them directly in their voice. So it is not reporting in the traditional sense, it is more of as a told to, being told to the mark and you get to hear from people working in amazon factories in europe as a syrian refugee, or in electronics in asia. There are cogs in th
Equities, downs, by a round, three quarters of 1 . Bloomberg dollar index shooting higher, dollar up against both. Fairly chunky move when it comes to frontend of the u. S. Curve. Two year, 10 basis points upside. President. Om the fed, trade narrative as well. The president saying china broke talks. He is adding that, we will see what is happening. He said the fed is making a mistake and cutting rates would not be good for u. S. Economy. Context of payroll. React tomarket stronger than anticipated number, of june, beating all 224,tations coming in at way higher. From 120 to 130. Jeffrey, good afternoon. Good afternoon. Guy what do you make of it. Markets, less than good news because of the narrative at the fed, that has been supportive. Shouldnt see too many things derailing that. We dont want to see a tightening of financial conditions. That is the bottom line. Markets still have 25 basis points priced in for july. Jeffery it is a cushion. Whatever the president wants to make of them
Look at what to some other action was taking place in the markets. What were you watching, abigail . Abigail im going to talk about the risk assets but on a longerterm basis this comes from bank of America America lynch. He joined us for charting features. What we are looking at and yellow is the s p 500 going back to january, 2018. In blue, highyield bond index. In white, that investmentgrade bond index. We see as the s p 500 was putting an alltime high and a strong january, those bond indexes were sliding. As the s p 500 climbed into its september alltime high, they were climbing a little bit but pretty tepid. Out of the Fourth Quarter bottoming, a huge rally for stocks, investmentgrade bonds and highyield bonds. Believe a steve to new alltime high is ahead for the s p 500. Emma of course, the big move in markets today came in the oil markets. Both wti and brent crudes rising about 4. 5 . Should be able to show you a chart that shows as the highs of brent crude, the biggest intraday
Ft Still Holding ground in the big apple. First, to our top story u. S. Markets posted a dramatic slide today as global trade has spooked investors. The endt weekly losses of last year while treasuries rallied for the fourth year as the trump administrations trade spats are on multiple fronts. And the s p had its worst month of the year. We want to bring in Michael Regan from new york. A lot of Different Things going on. Where did we see the bloodshed . The bloodshed was widespread. Nine of the 11 main sectors in the s p 500 were down. Theeally stems from surprise announcement of potential tariffs on mexico. No surprise that the president is ratcheting up the immigration rhetoric with mexico. U. S. Mexicocanada have a trade deal that i think most of the market had assumed was near the finish line. It was recommended to go to the senate in mexico by the president there last night. It was believed that the u. S. Congress would be voting on is soon. That calls that into question and it te
so what is known is that title 42 is going away today. what is not, what happens immediately after. the biden administration is preparing for a surge. cnn is live in texas. and more of the same or moving the needle around new hampshire and around the country after a fiery donald trump town hall, and what republicans and democrats are saying. and now, britain has delivered long range missiles to ukraine, and so what are the likely targets? all of that on cnn news central. let s start with the big change coming down the pike. since 2020, a special policy has been in place allowing the u.s. border officials to immediate expel the migrants trying to get into the united states. that policy is going away. for weeks, the biden administration has been preparing for a tidal wave of the migrants once the policy lifts. rosa flores is in el paso once again for us, and rosa, you were able to ride along with the national guard to get a sense of what things are looking like, and wha