London, this is daybreak europe. Animal spirits seems to be present. That seems to be the story of 2018 so far. Asity markets are doing well we said in our headlines, the dow hitting a new record, many indices hitting a new record. Msci asia picking up where they left off. Data fromd robust various locations, whether its the u. S. , china, or europe. All of that underpinning the strength we are seeing in these risk assets at the moment. We have the Dow Jones Futures in their. In there. Despite the snow perhaps. The jobs data it will be crucial, the two numbers we are watching, not a great start for the year for the dollar. Prices put in the nymex to show they were pretty stable after what we have seen via record run of gains in commodity markets. Around that 62 a barrel. Animal spirit in these markets, certainly a theme. Manus a couple of big things. Rises. Asking for 3 wage , the relationship is broken. Well talk more about that between inflation and the job market, but the animal spi
The u. S. Economy and the fed path this year . And the former uber boss travis the private sale of a 29 stake in the business. Will this be the start of a new era for the Ride Hailing Company . Matt good morning, guy. Great to see you back here on the european open. Take a look at what we are inecting this morning futures. Not a lot of movement there as far as directional change. Maybe we see it continue to this rally we saw yesterday, although i cant believe we would see the same kind of scale as yesterday. The cac and dax yesterday and euro stoxx 50, up 1. 5 . Big gains in europe yesterday. We could see gains today. You would expect to see investors selling off debt in order to raise cash. You dont see that so much. This is the onemonth chart. Let me switch it to oneday chart. Bund truem into the today. Yields are up a bit, so investors are selling off on this to a next and, but looking at a 44 on the bunds. Not a huge for break from the range. Thatstocks bid, the story has dominated
The New York Stock Exchange and as i said, countdown to the closing bell is not going to take any breaks and that decision is made because we are watching a mighty tumble and struggle here. Folks, its a very fastmoving one. Dow and s p 500 are on track for their worst week since january of 2016. Tech and financials are pretty much the hardest hit fears of inflation and of course higher Interest Rates rearing their heads once again. Let me start with Interest Rates the rising 10 year treasury yield started the whole thing last friday when we lost 666 points on the dow and by the way were down 600 right now. Intraday, today, the 10 year treasury yield briefly revisited the four year high of 2. 88 that it had hit remember this early monday sort of overnight before many of you were awake. That sparked an 1100 point blood bath back on monday for the dow. To date we touched that level and were now off slightly at 2. 85 . Nasdac, look at this folks at the low of the session today the nasdac w
Hope to stabilize around the target for the mediumterm. The Committee Says that is monitoring inflation developments closely. 1. 6 this year, 2 on average in 2018. Minneapolis fed president deal kashkari, on top of the Monetary Policy is this. A plan to reduce the Balance Sheet, which they plan to begin longmenting this year as as the economy stays on track. They will taper reinvestment in treasury and mortgage security, 10 billion a month. Steps every three months for a year until they reach a total of 30 billion a month. Increasing 4 billion a quarter until it reaches 20 billion. That will allow the Balance Sheet to decline in a predictable manner until the Federal Reserve is holding no more security than necessary to implement Monetary Policy efficiently and effectively. They dont say how much that is. Below, butciably larger than before the financial crisis. On how best to implement Monetary Policy, they will learn more. Reaffirmed the rate is their primary tool for Monetary Policy
Hope to stabilize around the target for the mediumterm. The Committee Says that is monitoring inflation developments closely. 1. 6 this year, 2 on average in 2018. Minneapolis fed president deal kashkari, on top of the Monetary Policy is this. A plan to reduce the Balance Sheet, which they plan to begin longmenting this year as as the economy stays on track. They will taper reinvestment in treasury and mortgage security, 10 billion a month. Steps every three months for a year until they reach a total of 30 billion a month. Increasing 4 billion a quarter until it reaches 20 billion. That will allow the Balance Sheet to decline in a predictable manner until the Federal Reserve is holding no more security than necessary to implement Monetary Policy efficiently and effectively. They dont say how much that is. Below, butciably larger than before the financial crisis. On how best to implement Monetary Policy, they will learn more. Reaffirmed the rate is their primary tool for Monetary Policy