Benchmark Interest Rate at 0. 25 . That is expected. We had the debt maintaining it will continue with the policy of 0. 25 for the beginning of next year. They are maintaining the benchmark Interest Rate. This meeting coming after four new cases ending new zealands 100 today virus free run. Perhaps more later on. Auckland back in lockdown. A lot were surprised about the resilience of the economy. They have to weigh the global risks, as well. The qe purchases are interesting, as well. Most werethey have to weigh thel a bit historic pick for joe biden, the first africanamerican. Pick for Vice President. And the first asianamerican. And some say it will help propel joe biden to the white house. Lets bring in Jodi Schneider to talk more about this decision. It seems this was a no surprise pick from joe biden. What does it tell us about the Democratic Party . First of all, joe biden said he would pick a woman, so thats not a surprise for his Vice President ial running mate. It was thought h
Americas top Infectious Diseases expert says he is confident we will have a vaccine by the end of the year as infections slow and california and arizona, but florida reports record deaths. Secretary of state mike pompeo praises australia for standing up to china as the traditional allies strengthen defense ties. Shery thats get a quick check of how markets are trading at the moment. U. S. Futures opening to the upside, point 1 , this as stocks fell. We had traders assessing corporate earnings, not to mention contentious negotiations on a legal stimulus package. We have the s p 500 nearly raising money. We had traditional sectors gaining grounds. Real estate, utilities performing while energy declines. We had worse than expected results from a few companies 3m. Uding mcdonalds and the nasdaq composite also lost more than 1 . Tomorrow is the big antitrust showdown. We have the big tech giants including jeff bezos and Mark Zuckerberg testifying, so we will be watching that closely. Take a
Live on capitol hill, the House Appropriations committee working on 2021 spending levels today. One of the measures they are working on his defense spending. 694. 6 billion, an increase of 1. 2 billion from 2020. Congressman a nita lowey chairs the committee. I will say good morning again. I call this meeting of the committee of appropriations to order. Before we begin, house rules require me to remind you that we have set up an email address to which members could send anything they wish to submit in writing. That email address has been provided to your staff. Our first order of business is consideration of the department of defense appropriations bill for fiscal. Ear 2021 thank you madam chairwoman. Remarks, igin my reluctantly have to acknowledge this will be my final Opening Statement before the House Appropriations committee. I have no new revelations to make but for those of you who will remain on this committee, there are a few things i would like to say. He saved the conditiona
Still a dollars story. Bloomberg dollar index looking like the u. S. Dollar is steady in the last 12 hours, but on course for potentially its worse july in a decade. The dollar index is flat essentially. U. S. Dollar, yes, i want to focus on this because 103. 50 is a key line. Modest upside for the u. S. Dollar. Japan downgraded from fitch to negative outlook. But you could see further upside. 103. 50 is a line to watch. In terms of offshore currency in the mainland, or in china, 7. 0 is what we are looking at. The euro is modestly stronger against the u. S. Dollar. Gold and silver and the yield story in the u. S. , gold started to modestly moderate. At. 6 is what we are looking silver also taking a bit of profit. Basiseld story, just 14 points for the twoyear and under 60 for the 10 year. We will see what jay powell says on whether yield control is a discussion they are ready to bring forward for the fed. A look atets have what is going on first word news wise as we look at the u. S.
Chair lowey i will say good morning again. I call this meeting of the committee on appropriations to order. Before we begin, house rules require me to remind you that we have set up an email address to which members could send anything they wish to submit in writing. That email address has been provided to your staff. Our first order of Business Today is consideration of the department of defense appropriations bill for fiscal year 2021. I will not recognize to present the bill. Thank you, madam chairwoman. Before i begin my remarks, i reluctantly have to acknowledge this will be my final Opening Statement before the House Appropriations committee. I have no new revelations to make but for those of you who will remain on this committee, there are a few things i would like to say. Him saying them as someone who is so compulsive, he saved the congressional record on the day he was appointed to this committee after years of efforts, which makes mr. Rogers, my good friend, the only person