And thats what tony zhang is singing about today. And our last song pun of the evening, you down with tlt or up . Or down . Or up . Professor khouw breaks it down, why rates could be in for a bumpy ride, and how to ride that out with options its time to risk less and make more options action starts right now. Lets get right to it Consumer Staples making a comeback from the march lows and now hovering close to alltime highs. Carter says there is one stock signaling trouble despite the staple surge carter, what are you looking at . I thought wed target proctor here proctor is the biggest weighting we know in the sector, but its just a bit hot to my eye and lets try to figure it out together so first a simple table and you can see it there on your screen and this is just looking at the performance of the consumer staple sector versus proctor one year basis, the sector up 10 , procter doubled that, up 24 on a twoyear basis, the sector is up 25 proctor is up 77 on a fiveyear basis, the sect
Or down . Or up . Professor khouw breaks it down, why rates could be in for a bumpy ride, and how to ride that out with options its time to risk less and make more options action starts right now. Lets get right to it Consumer Staples making a comeback from the march lows and now hovering close to alltime highs. Carry the says there is one stock despite the staple surge carter, what are you looking at . I thought wed target proctor here proctor is the biggest weighting we know in the sector, but its just a bit hot to my eye and lets try to figure it out together so first a simple table and you can see it there on your screen and this is just looking at the performance of the consumer staple sector versus proctor. The staple up 10 and proctor has doubled that up 24 on a twoyear basis, the sector is up 25 proctor is up 77 on a fiveyear basis, the sector is up 33 and proctor is up 93. Now lets look at a chart of that fiveyear comparative chart and you can see that there on your screen. So
Still at home, eating out less, working less then before covid19. The economic fallout is putting pressure on lawmakers to get a new stimulus deal done, but so far no agreement has come from d. C. Europe still feeling the pain. Now it is a new hotspot for coronavirus cases, surpassing the u. S. Six months into the pandemic the recovery feels so far off. On an objective level standpoint, we are a long wait from the employment way from the employment levels we were at precrisis. The pace of job growth in particular, more evidence that is slowing down. This is every week of unemployment claims since the crisis began. If you look at the last five aeks, we stopped improving on sequential basis. These are high numbers. Over 800,000 per week, well higher than the precrisis level. We want to see them come down. Evidence that people are suddenly going back to work. Not showing up by this measure. This feeds into the general idea of consumer sentiment. That Bloomberg Consumer comfort index comin
Little ahead of expectation. The employment number has picked up a little bit as well. But you need some real analysis on what is happening here. Theres one man to ask, mike mckee, bloombergs International Economics and policy correspondent. Michael read into it what you want. The numbers for ism do come in at a headline level lower than the last month. 56 last month, 55. 4 this month. It would suggest a be a little slowing, but that is the statistical anomaly probably. It isnt a major change. We see drops in new orders and production, but those were very healthy. For for new orders, 61 production. It is not positive. There is still some contraction, but it is up to 49. 6 from 46. 4 . It does suggest some progress in adding back some of the jobs that were lost. Customer inventories is an interesting category a lot of people has been what a lot of people have been watching. Do you need to increase manufacturing to replenish those inventories . That would suggest that you do. New export
Return. Cellent huge samestore sales beat at home depot. Now walmart out with a digital 97 at theirup online stores. Granted, it is a different a different mix than home depot. A stunning statement from the traditional of england, where i believe one and in will be shown the door. Anna they are hoping to do this through voluntary redundancies and retirements and the like, but they got to get to that number. Food was a bright spot at marks spencers. Obviously, the online shift on all of these retailers has structurally been dealing with prepandemic comes with costs as well for retailers. They need to reposition their businesses for a new world. Tom it is a really complex tuesday here on our simulcast. We welcome all of you on Bloomberg Radio and Bloomberg Television. Futures up eight. The vix is a stunning 21. 22. Unimaginable weeks and months ago. Really noting dollar weakness at 92. Ith the dxy give us the themes that you see this morning. Get to the week as well. Weve got an fx voice