Asiapacific benchmark. Jakarta coming online. Of 1 . F 6 10 u. S. Futures are flat and so are nifty futures. At thatbe looking downgrade of indias outlook to negative. The country at risk of falling into junk status. When it comes to some of these markets, singapore reopening phase two today. The peak p, is the biggest loser on the board. Elevated. Ocks are we are expecting that we could see some action from the pboc in the next coming days. Could we see it in the form of a triple are cut . The chinese bond market has stalled a bit. We are still seeing yields go lower today. Take a look at currencies first. The dollar set for a second week of gains right now. We are watching the pound really closely. The bank of england expanded by qe program. Renminbi is steady around 708. The rupiah, we are focusing on that. B. I. Cut rates yesterday. More easing to come. Trend is steepening getting tired right now. Businesses have fears of a second wave. U. S. 10 year is down to 70 basis points righ
S p 30,038 russell out performing everything today lets begin our conversation, joe. Really want to use these last days of june to discussion where the money is going to be made in the next six months. First half is going to be in the books in a couple of days. Its been a turbulent one. We know that what do you think is in store for the next six lets talk about the last couple of days so we can look toward the final six months. A lot of complexity here first of all, you have the russell rebalance. You have a 10 decline in the last five days for facebook and the immediate question for me is does that have an impact on the Technology Sector. If i look at the sectors, technology is the only leading sector in the month of june. Are we going to get weakness here out of the Technology Sector i think that extrapolates further to more weakness throughout the summer for technology and there in lies your opportunity to take advantage of that orrection. How about the performance for the emerging
If retail buying cyclical, do you have to . And one of the potential movers u. S. , theket in the pharmaceutical analysts. A lot of pockets but we can start in the u. S. What is your biggest take away and how should the markets be taking it . I think the simple read of trying to analyze wave one, wave two, it really does not matter. At how thisto look rise in the number of cases, i think we talked about this last week, actually translates. Nobody wants to get infections running around still but we want to make sure that people, if they are getting hospitalized, that that is the hardest and best number to practice with. It is possible that because you are doing thousands more tests, you are obviously finding more infected people. Lets just keep an eye on the hospitalization rate. That is the one i am keen to look at. And it is not as well reported for some reason. So what is it telling us . I get what you are saying about the fact we are testing more and logically, therefore, the number
I find it absolutely amazing we find ourselves in a situation where what is happening with hong kong, the china trade deal, the economy, the rioting taking place in the u. S. , and the equity market just shrugs it all off. Only shrugs it but continues into the value trade in the deeper cyclical trades. Everyone was saying, this is not going to last, yet it still continues. Lets break down more of the markets and how do you feed in the u. S. China trade tensions. Joining us now is nathan sheets. He is head of Macroeconomic Research and a former u. S. Treasury secretary for international affairs. Always good to chat with you. In your expertise with the relationship between the u. S. And china, are we at a standstill or do you see the evolution of stronger rhetoric leading to economic section sanctions leading to more tariffs . Nathan my expectation would be that we will see further tensions between the u. S. Into china Going Forward. China Going Forward. Disagreements are about trade, te
Deterioration here. We are suddenly down. 6 having gone negative a few minutes ago. Our bloomberg reporter is suggesting it is chinas response to President Trumps accusation. Safeguarding it will its interest and offer countermeasures after trump sent, a letter to congress a strategic approach. We will see if this continues throughout the afternoon. 500 isow the s p down. 6 . The Boston Scientific is down 5 . Best buy is down 5 , and many other companies. The 10year yield at 66 basis points. Dire Economic Data again today. Justollar index, it was about 99 at the beginning of todays session. Above 34 a barrel now. Higher. Long as it is lets talk about what is happening with the negative rates in the u. K. Replicated over in the United States as well. The eurozone has that experience. Tom withfrancine and the former governor of the bank of england. This was his take. I dont think it is credible to believe a longterm solution to the problems we are facing can be achieved by moving Interes