Banks and Energy Companies leading. The tenure u. S. Yield back up to 50 basis points. It was below that all morning. Nymex crude down about 20 . As you know, saudi and russia in a bit of a war here. 33. 22 is the price. The dollar and Oil Currencies are mostly trading with big ranges right now. Lets get to our second board to see more action. You could look anywhere today and see a lot of action. Highyield, that Circuit Breaker was triggered as well. We are down about 5 right now. Dollaryen at 1. 0240. All of thelooking at markets throughout the next hour. Guy the best way of doing that is to take a look at the gmm, the function on your bloomberg which will give you an idea of what is happening around the world. The brazilian markets halted, limit down. The ftse is off by 7. 25 . The dax down by 7. 1 . The s p now down by 5. 88 . The russian ruble, oil prices the center of this story, down by nearly 9 . Brazilian real off by nearly 3 . The euro catching a bid. The dollar on offer agai
Parts here today. Some are literal. The princess cruise ship is one. Theyre watching throughout the day as it makes its way to the port of oakland. It is supposed to dock around 3 00 this afternoon. Well talk about that, oil off the bat with our buddy phil flynn out in chicago, price futures group, senior strategist at cme. We talked about it last week, phil. You and i were going back and forth about russia and saudi arabia. Now we have the true price war breaking out that has consequences in places like texas and north dakota. Take us through what youre thinking about today . What im thinking about is were learning today, not always is a low price for oil good for everything. There is concerns for banks, oil producers, the general overall market. Having said that, there is some hope, you know, right now with the talks of stimulus. Maybe we can pull off the lows right now. There are old saying in the business low prices cure low prices but this breakup of opec and russia, this opec plu
Tenyear yield has fallen below 1 . It dropped to a record low of just. 9 . Right now its barely above that at. 98 . Stocks made a brief attempt at rallying but then completely tumbled. The central bank said it was making a preemptive strike to stop the coronavirus contagion from affecting the american economy. The dow started swinging all over the place. More than 1300 points from a high of up 381 points to a low of a loss of 996. As you see, we are down 642 points. The s p is down 71. Of course, the nasdaq, triple digits, down 234. It all comes as President Trump right now is at live picture, right now at a roundtable at the National Institutes of health where he is meeting with all kinds of Health Vaccine experts at the research center. Hes going to then take a tour. Lets listen in. Hes taking q a. If it was necessary, i would do it. Yes. Reporter whats your timeline on further travel restrictions, mr. President . Well, we are looking at different areas and we will make that decision
They are maintaining well above it. 30 years were at 69 basis points last week. 137. Hey are at we are seeing some recovery perhaps in the treasury market, and that is good news. Alix but a lot of criticism has been the fact they didnt address the commercial papers market, exactly where the help is needed the most. What are the steps they can take to address that . Michael they could set up a special Lending Facility to buy directly. That may be coming. Jay powell was asked if there ree actions th coming, and he said we are not ready to announce that. Are there no swap lines for the pboc . Theres a story floating around that once the feds its arthur dollars why have got swap lines with all the Central Banks, but not the chinese . Michael i would suspect probably because the chinese yuan is pegged to the u. S. Dollar. Dont know how much of a dollar problem they have. Theres always a rumor that the chinese are going to sell treasuries that never really comes true. Where we do see problem
This number, down 664 points, for a loss of about 8. 5 . Crude oil at the moment, it has been vicious and quite a violent downside move, even after the ones last week that were very ugly. We see crude oil setting at 28. 70 but in the aftermarket, we are just above 29. Call it straddle. We are right at 29 a barrel. We have major developments this afternoon putting even heavier pressure on the markets. Canada moves to close its borders and the nations airlines are seeking up to 50 billion in aid to support the massive plunge in bookings as of course, social distancing affects all forms of travel. In this hour, we do expect that live News Conference held by the white house by the Coronavirus Task force. 3 15 p. M. Eastern, 14 minutes away, as you heard. We understand the secret service has now started taking temperatures of those in attendance. Heres a couple questions we at countdown want to know. Will we see more stimulus announced . Will the status of the nations airports change at all