Breaking about 7 . This leads us to the pause problem. Data continues to come in strong. Inflation, retail, initial production. From new york, i am alix steel with guy johnson. Welcome to Bloomberg Markets. The Industrial Production beats also. Guy take your pick. Things are strong at the moment. Here is the kicker. The market thought last month a soft landing was going to be a good thing. The market is reappraising the view that a soft landing is a good thing. A soft landing comes with higher rates. The whole idea you can have a soft landing and rates would get cut significantly is enough to appease the market. The market is coming to the conclusion, there i say it, a soft landing may not be a good thing. Alix financial conditions have loosened a bit and that makes the feds job tougher and puts more pressure on jackson hole. Does the narrative need to change this top financial conditions from loosening so much . Guy i think its an interesting one. What does jay powell do a jackson hol
Green for much of the section and that is still the case. The russell 2000 is the big outperformer. The index now up for the past five straight days. And as for tech the nasdaq 100 on an intraday basis, alphabet hitting a new high. Take a look at the picture in yields. Just about everywhere you look on the curve today they are falling. Takes us to our talk of the tape. How much room for stocks to make a run into year end . Lauren goodwin of u. S. Life investments at post 9. Thats what some people are talking about. Were setting up for a run into the end of the year. Do you buy it or no . I think well see upside in equity. The challenge for investors when youre in this late cycle environment, its difficult to get meaningful sector or even style performance for more than a couple of days at a time. Well see what weve been seeing a range bound volatile market. We have not reached a recession or a bear mark yet. What if rates continue to move lower . Thats what this is largely about, right
Sinking again. And we continue the week long special with the best ideas heading into q4. It is tuesday, september 26th, 2023 you are watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. We kickoff the day with the check of the futures the first winning session in five a clear change of direction here in the futures the dow set to open 125 points lower. The s p and nasdaq both down about. 50 in the premarket we are checking the bond market with the 10year treasury at the highest level since october of 2007 look right now at 4. 52 also the 2year treasury is 5. 12 you see it is elevated we are looking at the energy markets. Oil is giving back a bit look right now at wti crude below 90 a barrel down 1 this morning brent crude at 92. 28. Similar for the Natural Gas Market down 1 this as the dollar adds to impressive gains up 2. 7 this quarter alone and on pace for the best quarter since q3 of 2022 you can see the dollar up fractionall
Mixed day today european equities after the benchmark stock exchange. Investors are waiting for the outcome of the tax vote in the u. S. Equities. Mixed day for fx. Look at the yields rise. Ireland, france, belgian, germany, commodities giving you a feel of the market today. Some Business Confidence out of germany, unexpectedly weakening its december. The gains remains near its alltime high, as you can see from the line right there, respecting the fact that the economy has excelled this year amid robust domestic spending and recovery in global trade. Debt surging this year, taking benchmark yields to the lowest level since april of 2015. To spanish levels, theres more credit defaultts swaps so says richard hodges. If movies follows fitch in upgrading the sovereign debt next year, Sovereign Rating next year, he says the swap should narrow the gap widths main as well gap with spain as well. Portugal versus spain, a 10 year yield spread is the white line. Very quickly, this is the oneday
After democrats succeeded in blocking judge gorsuch. Thousands of south africans to mr. To peacefully today, calling for the resignation of jacob zuma. The presence dismissal of the countrys finance minister has corruption. Rns over the Nobel Laureate made a rare public appearance to support the protests. News 24 hours per day powered by 2600 journalists and analysts in over 120 countries. This is bloomberg. Scarlet live in bloombergs world headquarters. Joe we are 30 minutes from the close of trading. Heading the dollar is for its best we can two months. Joe the question is what it you miss . Scarlet the lowest level in almost a decade, but it could signal steady progress. National Economic Council director gary cohn ways in. Increased tensions with syria. A missile strike in syria is putting moscow and washington at odds. We will hear from the dean of the John Hopkins School of advanced International Studies next. Early growing pains, the chump administration and congress have yet to