Ofodollar getting a bit traction. The dollar is going down. This is part and parcel of the yellen trade, which seems to be getting reaction now. It will be interesting to see how she works handinhand with the fed chair. Minutes,e last few crude went through 45. This is wti. We are backing off the little bit, but that line in the sand is the highest level we have seen since march 6, which gives you an idea of the turnaround we are seeing. The big question, is it running too far, too fast . Alix some analysts starting to scratch their heads a little bit, particularly as they look at the curve. President elect joe biden said to announce his selection of former fed chair janet yellen as secretary of the treasury. Joining us as michael mckee, Bloomberg International policy and economic correspondent. What about this appointment is giving confidence to the markets specifically . Theael janet yellen ticks most important box for investors, she makes them money. Take a look at what happened whe
Lets break it down with mike mckee. Is a it is michael it little bit odd. On the headline, 100. 9 is lower than it was in the month of august or september, rather, when it was 101. 8. You would expect that maybe the present situation would be causing people concern because of the coming closures of some businesses as covid cases spike but the number comes in at 98. 9 at up from 104. 6, up from 98. 9. Turnabouting quite a in the way people are looking at the economy. The interesting thing here is this bemay see is reasonably good news for donald trump because if you are looking at the economy, stupid, as the old saying goes, you are looking at the economy as it is right now, and the economy as it is right now is better. The employment number is something Everyone Wants to look at in the set up to next week. Jobs number is an improvement, so those who think we are going to have a dismal jobs report next week might be in for a surprise, at least according to the underlying Consumer Sentim
Of tech trade war, while the streaming giant netflix misses estimates. Welcome to surveillance. I am yousef gamal eldin in dubai. Assetse risk eye firmly bid, the state of play of the s p 500 currently called substantially higher after of course the earnings picture continues to fill overnight, including from netflix, which came through with a miss. Latest lawsuit and the uncertainty in stride. U. S. 10year finally Getting Movement in the last 10 hours. We are at 81 bits, and the selloff really taking a little bit of momentum over the last few hours. Behold yield curve beyond five years is trading at four month highs. It is not a volatile rising bond yields. It is doing nothing to help the dollar, though. On the currency note, you have traders testing the chinese governments tolerance for a strong yuan. A major move in the u. S. Fx space keeps rallying, no matter what officials you doing. Gold getting a list as well, up. 7 . Keep an eye on that trade is what Billionaire Hedge Fund mana
Virus. We are also getting headlines out of europe which are undermining confidence as well. The stoxx 600 is down by 0. 7 . The s p now down by 0. 4 . Eurodollar actually picking back up again. The 1. 16 level held, and what i am hearing is the real money accounts are back in the market. 1. 17,back now above 1. 1729 where we are right now. We have the ecb watchers event tomorrow, Christine Lagarde speaking in the morning, and then at 10 00 him him 10 00 a. M. Eastern, we will have speaking. E , the chief economist speaking, the chief economist. Alix the s p now down by 0. 4 . New york citys daily positive rate daily Positivity Rate is now over 3 for the first time in a month. Now offeringo is new enforcement for schools, saying if any of them do not over the rules, they will be closed. Governor cuomo will be speaking at 00 speaking at mike huckabee, speaking at 1 00 p. M. There are some granados stones globally. The deaths passing one the deathsly passing one million globally. Joining
We saw a poll coming out of the weekend on sunday, a couple polls, actually, saying a majority of americans that were surveyed had very strong feelings about the fact that the president himself managed to contract this virus. Emily to a certain extent, it has served as a little bit of a wakeup call, if you will, that the president , with all of his security, testing, and the people that have been around him, even the most powerful man in the world can contract this virus. Can contract the virus. You see republicans. They have been sort of pushing forward and saying we are going to go ahead, continue with the debate, continue from what they can do with campaigning. Look over in the senate, where there is a huge debate going on right now about filling the Supreme Court vacancy. We have not seen any changes to that schedule despite the fact that we have three republicans who currently have the coronavirus and a couple of them sit on the committee that is going to be responsible for having