Equity futures lower on the ftse. The s p 500 went down. Bid into the bond market. Into the bond market we go, negative almost 60 basis points on a 10 year. Its like a throwback to our days together five years ago. There is some weight to this. Good morning. Annmarie certainly, it is. Were so excited to have you back. An absolute gladbac bloodbath, nymex dropping below 39 as the resurgence of cases in europe not going to bode well on the demand side. The supplyside worried about libyan oil barrels. Softer. A bit this is the prospect of fresh stimulus. That helped treasury yields rise. Jonathan thank you. Lets get the first word news this morning. We can do that with laura wright. Laura china is laying out a new plan for Economic Growth this week in beijing. President xi jinping is holding a meeting to decide on the next fiveyear plan. Its expected to focus on technological innovation, economic selfreliance, and the environment. But the event is closed to the press. Key decisions wont b
Since the beginning of september. As investors try to move toward the Health Care Part of the economy, it is creating choppy trading action as we can see with todays mixed action similar to yesterdays big move, lots of volatility. David we have all been fixated with the election, and some with covid19 and the vaccine. You pointed out something that happened in august that may be having ripple effects in the equity markets right now. It seems as though the surface issues, the very important issues, the election and the virus, a huge issue that can change the field. It seems that what we are seeing is a repricing of risk. In august, the feds policy framework shift back in august ,eeping rates lower for longer especially the short end of the curve, but putting the sentiment towards the idea of inflation or healthier economy, that has steepened the yield curve tremendously, again a repricing of risk. This is healthy, but when the yield curve steepens it does cause lots of different Asset C
Come on, jon. Theent an hour reviewing dynamics. Theres been a real deterioration. Mike Allen Publishing moments ago for axios, and he melds the two stories together. Hes focused on wisconsin and montana being those swing states with huge pandemic issues. Jonathan and yet, wheres biden and harris going to be this week . Biden in georgia, harris in texas. Who would have thought that was to the election, those are the two places they would be. Tom georgia has really been front and center. Londonitical analyst in Francine Lacqua mentions she is focused on george as well. Jonathan new restrictions across the continent, and what are we not talking about this morning . We are not talking about stimulus conversations. This market adjusting lower. Lisa perhaps you can blame the fact that we havent gotten a fiscal deal. Week, wasch a huge andt days to the election, the data does stay pretty soft. 10 00 a. M. , we are getting u. S. Newhome sales. Expect deceleration in the full number based not
Trumps white house the real story of his presidency and in washington we cross to rubber but joe is an attorney as well as executive director of the Rainbow Push Coalition are joining hospitals in effect that means you can jump in anytime you want and i always appreciate it ok robert lets go to you in washington. What do you what is your assessment so far of the proceedings that it will see most likely judge bear become an associate justice of the Supreme Court i was very troubled to be honest with you the number of times the democrats said shameful shameless i mean what is shameful about the Legal Process that were seeing right now i understand fully well that theres a lot of issues that divide people here but the proceedings themselves are pretty straightforward and its not the 1st time its happened but the media doesnt give you that impression so what are your thoughts are on these proceedings. Square square 2626th. Amendment astringent. Lindsey graham every sort of sort. Of. Some p
Chinas leaders meet to draft their next fiveyear economic plan and the virus recovery. We are live in beijing. Adi terry warning warning from the World Health Organization. We are in a dangerous place. We are not going to control the virus. Are we perfectly positioned for risk . I take you to the changing risk in the polls. And thethe bond market polls. A blue sweep from a 62 probability to 51 probability in a month. It is a curve. Overextended to the upside. These are the markets this morning with the risk from the white house. We are not going to control the pandemic. There are lockdowns in spain. Are you pricing equity market risk appropriately . Markets are trading what they see, not on what they hope. Goldman sachs say you will have to reach for risk. Stocks could outperform the credit markets into 2021. I take you into the response mechanism on the australian dollar, a high beta trade. There, the rba could strike next week with lower rates. You just shredded the cost of hedging a