People saying we are going to get this rotation out of growth, into value. That rotation seems to be overdone. I wonder if you are still going to get people trying to push that narrative. Jonathan yields higher off the back of the ppi data yesterday. Friday. Y, retail lisa we are expecting a little bit of an increase, kind of like what we saw yesterday. It is going to be interesting to see whether weve got a further selloff in bonds. We will get another record sale of u. S. Treasuries on the long end, selling 10 year notes. Yesterday we saw that three year auction come in very strong. Interesting to see whether that happens again. Today we are going to be hearing from the Vice President afterate Kamala Harris joe biden selected her as his running mate. They will be speaking in delaware later today. Jonathan lets start with the fx market. Eurodollar starting to push just a little bit higher, up 0. 3 . In the equity market this morning, equity futures up by around 25 points, up around 0.
Published in scranton, pennsylvania. Always a tough coal mining economy there. Scranton, pennsylvania at 15 , but you know it is much higher. Normal, andre near willech will it directly address this American Labor economy. Sequentialespite the month on month improvement we have seen, we expect to see some elevated jobless claims again in around 90 minutes. One of the main things people are looking at is the continuing claims, which are expected to tick lower, a good thing, but not that much lower. We will get those numbers at 11 30 a. M. A lot of people parsing the numbers under that, in terms of people getting relaid off after getting rehired. The u. S. Is also selling 30 year bonds. Yesterday, the auction of 10 year notes came with a record low yield of 0. 65 sent. Interesting to see whether the demand will be there for even longer dated bonds amid a deepening deficit. Heading to his childhood home near scranton, pennsylvania. Interesting he is taking a more moderate approach then so
Exceptionally good guests this hour, and we will begin with a moment. Haass in an extraordinary place we are in right now, waking up to the imagery of a darkened white house. The president choosing not to speak to the nation as wasnt dissipated last night. To the north across lafayette , a boarded hay adams. A fire in the historic st. Johns episcopal church, the church of the president s. Pew 54 is where they sit, although lincoln sat quietly in the back. The protestsct to in continental europe. Your thoughts on this file and we can. Jonathan i dont think anyone needs my personal thought, not from a journalist whos barely left his apartment in the last three months. I dont think theres much value protests in the europe in the United States. Theres a deep history in the United States. The plea unsettling to see the equity market emotionless against the backdrop of the weekend. Commentt uncomfortable beautifully, absolutely nails it. Alm iscomfortable c also in the fixed income space. It
Based on the risk off the further markets. It is time now for global exchange. We will bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. Where to begin in asia, the coronavirus continues to spread in china, with the number of confirmed cases climbing above 75,000. Engle. Me is Stephen Stephen for the second time in about a week, china has rejigged its methodology for how to classify confirmed cases of the coronavirus in china, that has led to this now becoming a bit of a global crisis. We are seeing more speculation that the data we are getting is we necessarily reliable, or are seeing a significant dropoff in the number of confirmed cases. In hubei province, just 349 new cases reported overnight. Is that because of the new methodology, or do they have the containment efforts under control . That is raising a lot of confusion and questions. Also, it adds to suspicion that officials in china may be prema
Also taking a look here at the curve as well as bonds like i mentioned, 194 is where we sit on the 10year. Time for Global Exchange where we bring you market moving news from beijing to new delhi to washington and los angeles. Our bloomberg voices on the ground with this mornings top stories. We begin in asia where the chinese president is in macau to celebrate the return to chinese rule against the backdrop of unrest in china and calling for macau to diversify its economy. With the return of hong kong and macau to the moreland, it is completely up to china to handle the affairs of the two special administrative regions. There is no need for any external force to interfere. Alxy joining me is tom mckenzie the china open coanchor. What did you learn by the speech from mr. Xi . Tom he was there to mark the 20th anniversary of the handover and swearing in of the chief executive. Macau as a reminder is the worlds biggest gambling hub, bigger than vegas with a monopoly on the industry in ch