Fast money. We are live. Lets begin with the great rate rall. Rising as high as. 33 . The move taking a toll on stocks. The dow down 290 points, the latest index to move below its average. It is the first time it has done that since first, so is there any end in sight . I thought actually markets did okay, considering the huge climb. It is interesting. I know for a fact that miley cyrus is a huge fast money fan and one of her hits is called, the climb. This is not what you want to see. The rates are going higher. Events are going on globally. We are at levels we havent seen in quite some time. I have looked at it and i think we are about to break through a forty year downtrend in yields. To me, it will be very negative. You are right, the stock market sought off late. We are at levels at the s p we topped out at last year. There should be support but if yields continue to move like they are you moving, there will be ramifications. I think they will top out next week. Everyone has gotte
Lizzy good morning. This is bloomberg daybreak europe. Im lizzy burden in london and these are the stories that set your agenda. Rebound in china and hong kong healthstream losses but contagion fears mount over chinas property sector and sluggish economy. Divisions over a decision most fed officials see significant upside risk to u. S. Inflation, but two favored leaving rates unchanged. Plus, the one falls, shrugging off beijings most forceful guidance since october. The yen tumbles through prior intervention levels to near its weakest this year. Welcome to thursday. The two stories of the week have only gathered pace. First the fed looks like it will keep rates higher for longer, that narrative strengthened by the latest fed minutes and strong u. S. Seco data. November pricing picked up slightly and investors are selling treasures. The Market Outlook for 2024 is its most hawkish yet. Twoyear yields hovering around 5 . The 10year at levels last seen in october. Yields continuing the ri
Your equity market right now, totally unchanged on the s p 500. If youre worried about the dates are, do not report it. If youre worried about the market, then sell a depreciate latest news out of china, we have seen these headlines before. Chinese authorities ask you Investment Funds to avoid being net seller of equities. If you do not trade to come if you did not report it, then it is not happen and the answer is at least around the world, especially given the data they have been reporting consistently has been worse than expected so then i guess, in absence of it, people think it is gotten better. Jonathan expectations on wall street around growth on china has changed. Jp morgan had a forecast growth of gdp a 6. 4 this year. This been cut to 4. 8 percent, four handle for a six handle in a number of months. Lisa there are signs peoples bank of china are starting to respond but it is not clear what they can do to generate confidence. I want to go back to the idea that they are not rep
On tv and radio. Im Jonathan Ferro. Tk taking a break, equity market soft, down a 30 on the s p 500. The bowls on wall street getting more bullish. Now looking for 4900 on the 400, the price target set at the end of december. He was bullish and right to be. He raises his price target. City are looking for 5000 by the middle of next year. It is record high watch on the street. Lisa and the potential for a 28 gain this year, the biggest going back to one to 19. Can we get the start of a new bull market given some of the increasing credit contraction, the softening in Economic Indicators check out could this be the start of a new bull market as many are calling for . Jonathan i loved what scott cronin had to say. Clearly we were chasing the tape. Growing conviction in years earnings acceleration is a key point of differentiation. He is looking for earnings to accelerate into 2024. Lisa a key underpinning for a lot of these, more broadly, is that the softness will cause the fed to pivot. I
Were very excited that youre all here. Its a great crowd. Im one of the hosts of the podcast. This is aaron lambert. Im also one of the hosts of the podcast. And i believe you all know zeke faux. Hi, everybody. [cheers and applause]. Were here for the launch and celebration of number go up. And this is all being recorded for the podcast. Now, normally only one host would review an author or a writer on our show. In this case, aaron and i were fighting over this book, who was going to get a chance to talk to him partly weve never had zeke on the show and hes done many, many pieces that we wanted to talk about and we waited in until this book came out and want to talk about the book so we decided to both question today. And if you havent read the book today, and youre getting a copy today. Youre in for a treat. I want to say the preamble. I did not know your name was pronounced faux until now. I thought you were a super anon who wasnt announcing his own identity and came up with a fake n