The press the Mainstream Press what we were we were accused of talking about heterodox economics when we pointed out that the phrase financial repression is just a euphemism for stealing and people say well its the debts heterodox economics you know say the c. And b. C. Or a. B. C. Or n. B. C. Or b. B. C. Because its not orthodox its not what all of the elite in the economist who go and get their doctorate from universes chicago is not what they think right now the heterodox are becoming mainstream because of this phrase called financial vandalism so people are out right under recognizing the fact that the policies of in the Interest Rate setting whether there are 0 or negative its about transferring wealth up its about moving trickle up financialization where the bulk of the economy is earnings go to the top 110th of one percent now i have often used the phrase financial terrorism that will probably become in vogue in the next 6 to 12 months weve said that we have. Global empire of de
Heterodox economics when we pointed out that the phrase financial repression is just a euphemism for stealing and people say well its the deaths heterodox economics you dont say the c. And b. C. Or a. B. C. Or n. B. C. Or b. B. C. Because its not orthodox its not what all of the elite in the economist who go and get their doctorate from universes chicago is not what they think right now the heterodox are becoming mainstream because of this phrase called financial vandalism so people are out right under recognizing the fact that the policies of in the Interest Rate setting whether there are 0 or negative its about transferring wealth up its about moving trickle up financialization where the bulk of the economy is earnings go to the top 110th of one percent now i have often used the phrase financial terrorism that will probably become in vogue in the next 6 to 12 months weve said that we have a global empire of debt and. That is its currency its the us dollar since 1981 weve had no gold
For the first time, and j. P. Morgan strategists move up their prediction for subzero 10 year yields to 2021 year clueless, donald trump attacks jay powell saying the fed is holding the u. S. Back from big rewards and games, we will win, he says. Maersk ceo sounds a negative note on the Global Economy even as the Company Beats estimates on operating profits for the Second Quarter. Good morning and welcome to Bloomberg Markets european open. We are looking right now at a safe haven bid that continues across assets. To the levels we have previously seen. The japanese yen the past three days, it is that it is at 105. 97, but not at the levels on tuesday. This leads me to believe duration is what investors are looking at. Futures, a bit of a bouts in terms a bit of a bounce. The ftse futures are up a little more than 0. 25 . The u. S. Government bond market is sounding recession alarms. Risk year assets jeweled the 30 year bond yield to a record low inversion. U. S. Stocks suffered another
Were peppy boys. Three down weeks in a row for stocks. It looks like weget out of the gate in a positive way. Dow would open higher by 133. The s p is good for 21. Still early with the nasdaq which has been beaten up is up 89. Bond yields here come after declines of 2 last week for each of the major averages. Treasury yields spis part of th story. 10year treasury eased off last week, but still at 4. 29. Steve. The upper end of the range recently. 4. 30. Some people telling me 4. 50 is not out of the question. A lighter touch from the China Central bank. Lowered the oneyear prime rate by ten points. Economists expected 15point cut. The economists expected a 15basis point rate cut to the fiveyear prime rate. Major indices in china were down across the board. Palo alto here for liesmaniacs want to talk about the fed. Palo alto. You must have been talking about this. It is odd they did the release on the summer friday in the afternoon. It wasnt a bad one. It was a good one. Everybody thoug
Well reveal the company and speak with the ceo and an interesting three buys and a build gina sanchez is buying the u. S. Consumer and selling the chinese one. But first, to the inflation reading. Im still raising my eyebrows. And mike santoli is here to explain. A big part of the story is the bond yields. Yesterday, we had a failed rally on a benign cp ireport today, a telloff on a slightly hotter than expected ppi this really has been chopping around as the seasonals get a little more challenging coming into august. If you look at where it sits in a oneyear term, that pullback did get us right to the precipice of that 50day average. 4443 was the intraday low. This morning in the s p, why did that matter, if at all take it back, and ill tell you on july 11, the high for the day was 4443 what happened the next day really nice cp ireport, reported july 12. The market popped from there we filled it this morning. People think this matters, but it matters on a macro basis, because july 12,