But the equity markets are open. We are up by 1. 2 . Earnings season getting up tomorrow with j. P. Morgan, but stimulus talks are not going anywhere. The german tenyear yield, yields are going lower. We are also seeing some pressure caught in periphery. We are getting awful close to a has 100 spread that basis points on it, and that is certainly something we are watching very carefully. We note the comments from mr. Lane over the weekend. The other thing we are noting as well is what is happening with chinese currency. The pboc over the weekend basically putting two way risk back into that currency pair. The question is, will that be marketto stabilize this and keep the pboc happy, or is further action ultimately going to be required . Kailey joining us now is mark mccormick, Td Securities global head of fx strategy. Lets talk about the u. K. First. More restrictions to stop the spread of the virus there. The market doesnt really seem to blink at any of these new additional restrictio
Europe and other parts of the world that are not encouraging. Clusters in new york. As folks worry about the possibility of a second wave, or even a second wave that is seeming to be starting, you see those parts of the market hanging back. That is exactly what happened in january. In addition, the bond market in the u. S. Is closed for the holiday. Japanese yen, the up a second day in a row. Over the last two sessions, the dollar against the yen down the most since the middle of september. On the surface it is risk on, but below the surface there are nuances to keep in mind. Taylor thank do bloombergs abigail doolittle. Investors have been watching for ,ny signs of fiscal stimulus but any chance for a deal looking less likely. President trumps time to spark negotiations on of the round of virus relief falling flat with House Democrats and republicans on capitol hill. For more perspective, i want to bring in ed mills, washington policy analyst at raymond james. I am curious. It seems l
That is a big headache for the ecb that meets next week. Alix one of the worst performing currencies in march. Scarlet is here to look at those. Scarlet a new trend. Alix that is me. Thelet i was hoping for return of summer. Weakness in the u. S. Dollar is index felle bluebird fiverounding up straight months of losses. When you look at who performed better versus the dollar everyone except brazil. Commodity currencies for the biggest gainers. Down 6. 3 rial is down 6. 3 . A note published today says the dollar moved further than the shifting growth expectations would justify. The positioning to get the dollar down has been extreme, but what triggers a correction is not for castable. The feds leadership was more pressure on the dollar because lower rates for longer continue to pound the dollar. Forever and a day is the phrase i like the best now. The fed is willing to tolerate higher inflation to get fuller, higher employment. As much as we use the dollar index as shorthand for the perf
Have nuclear capabilities, it is nearing that milestone in the nuclear arms according to the pentagon. I want to get Market Reaction from abigail doolittle. We were much higher before this report. How are we thinking . Abigail we are right around where we were before those headlines. The s p 500 about. 25 . The risk on rally we have seen in august, the s p 500 in august up about 7 . Itre we are really seeing for tech stocks, the nasdaq 100 putting in another alltime high. At this point the nasdaq 100 up almost 1 ,. 9 . Not surprisingly, this has everything to do with apple, up 2. 6 . Yesterday climbing after it split, investors liking its postsplit facelift. There is a four for one split. Now the stop is around one hundred 30 as opposed to 500. The value is not different, but the optics may be more attractive to retail investors. Bloomberg put out an exclusive report about the fact the company is preparing an iphone blitz for this fall, targeting 75 Million Units to be sold. Perhaps th