To the importance of signal of folding below a 1 year yield. The twoyear is many people will be discussing emergency fed action. Francine yes, i think that will permeate through what we look at everyday, bond markets around the. World lets get to the first word news first word news in new york city with vienna or title. Viviana we begin with the first moving developments to the coronavirus fastbreak. The japanese island of hokkaido went quiet after the governor declared a state of emergency. New zealand and lithuania putting their first infections. South korea has more than 2000 cases. The u. S. Is moving to expand the number of people being tested. Health Authorities Say they will test anyone with unexplained severe respiratory illnesses. J. P. Morgan is joining other Corporate Giants in restricting travel, the bank saying International Business trips will be limited to a social travel only. Previously they had limited travel only two regions hardhit whether coronavirus. Oil is on tra
And thats when the Trading Halted it slowed some of the panic selling, the machine selling and at the end of the day, still down more than that for the dow futures for the dow a decline of more than 2,000 points. Youre looking at a big bounceback but only half of the declines from yesterday. Up by 1100 . It found some support and then it was down 5 and then it closed about where it was indicated to open. Right. But we kept saying what if the garden variety correction is 12 we got a pandemic whats a decent where do we got an additional 18 or 19 yesterday. Well, in total. Down down 18 or 19. Yeah. If it goes from here up 1,000 today youll once again be the call of the bottom you will be ill take it. I hope im the call of the bottom. I hope you are too. But its just consensus. Just the feeling that everyone has at the same time that you express. Thats all it is thats many times that is the indicator. Do you think do you think we have more to go . Well, i understand the focus on the equity
Will have a great chart coming up on this. Madame lagarde is worried more about big worried about more than economics. Francine this is something a lot of people, i dunno if they saw coming but certainly we should be more prepared, but your absolute right. Lets go into the data and i will have a liquidity chart in the moment. Down. Tures down futures down. All of this rocketing off the president s speech last night which was taken quite poorly by the markets. Onto the next screen with oil weaker. A couple of pretty good days. Down to a stronger yen, thats a safe haven play. Brazilian riel an example of emergingmarket stress. Francine today we have Christine Lagarde. See are all rallying, we oil sliding. I wanted to show you what im looking at in terms of the european boards. This was quite significantly because european stocks you can see individually the dax and all of them down some 5 . This is my more broader cross asset and i have to say everyone is talking about President Trumps r
Testing limit down down by 5 as far as they are allowed to trade down before the open the number to watch this morning is down 136 for the s p. We have touched those lows and bounced off. We are not far off dow futures are down by 4. 74 . Nasdaq down 4. 6 after the opening bell, there are other Circuit Breakers you with watching. They would be kicking in with trading halting over a period of time down 7 this morning if that were to happen, youd see a 15minute halt after trading started. Next is if markets dropped by 13 . Then the third level is after 20 . That would be a halt of trading for the day. We have not seen these tested since 1997 until the last week of trading thats what we are watching so closely. If you take a look at the treasury market, you see the 10year note is 0. 71 . We got back to. 8 or so yesterday. With the yield, i was hoping they would have sold off talking to folks yesterday worried about what looked like it was better than going and maybethere could be problems
Many expect to more in the first half of the year. Time now for global exchange. We are going to bring your todays market moving news from all around the world. From hong kong to new york to washington, or bloomberg voices are on the ground with this mornings top stories. Coronavirus cases around the world are over 93,000. Joining me now is yvonne man, and with some data to go with it that is not so supportive. Yvonne right. South korea now topping 5600 cases. The government there now seeking 9. 1 billion to help businesses. We have seen surging cases in italy and iran. Rate for this is now at 3. 4 . We also saw in the u. S. , reporting its ninth death, and china, more signs of containment. We saw the number of total cases have topped 80,000. We also learned of 15,000 that dischargedred and from the hospital. China come of the total death toll now at 2981. We saw car sales out of Mainland China falling a record 80 as this virus keeps shoppers away, and you see more pressure added to th