What does that mean for the fed, maybe the bad news is good news for the market. A study kind of day. What he really saw the action was in emerging markets. The emerging Market Industries are at its longest rally so far this year. A have recouped more than half of their losses since that low in february. This to me was particularly interesting because we got that Week Services data out of china. China once to be a service economy, not a manufacturing economy. Weakness there should be negative but stocks rallied. Alix the selloff and emergingmarket assets had gone too far and it was time to go back in. In terms of treasuries with the gains in oil and stocks, he did to treasuries at the long end of the yield curve come down a bit. And the 10 year yield coming down to 1. 83 . Tool youre not participating in that in the yield really consolidating. The aussie extending its gain to a fourth day. In the Fourth Quarter rose more than expected. Real. Brazilian righ there was testimony that may
Not do what the ecb wanted it to do was one of the comments i saw yesterday. The old the other question was about Mario Draghis comment that this would be the last Interest Rate cut but skepticism about that. Is it all that the ecb will do . It looks like there is a more bullish read that is happen in the u. S. And in europe. The rally to date means that for the year to date, major averages have trimmed their losses considerably, particularly the s p and the dow, now let now doubtless than 2 on the year. Of forss than 2 the year. Signs ise positive counterintuitively been the losses in the highyield. , this looks at the s p 500 total return index in blue. The bank of americahighyield index and he is pointing out that of the last four times we saw high yields fall on an annual basis, stocks then rallied the following year. This looks back at the prior instances when this happened and and stocks rallied. That is one of the reasons he is looking forward to be bullish. We will see if the r
Stephanie i am stephanie ruhle. We misseed y we missed you. Erik a vacation. I will not go so far to say i deserved it, but i enjoyed it. Stephanie getting the top business stories of the morning. Greece. Talks over the greek bailout have broken down. Germanys commerzbank says theres a 50 greece will leave the euro. Greece is refusing to meet european demands that it requests an extension of the current Bailout Program. Here is greeces finance minister. Yanis varoufakis in the history of the European Union, nothing good has come out of ultimatum. We proceed from crisis to crisis and this is how we improve. In the next few days, any notion of an ultimatum is going to be withdrawn. Stephanie the greek government says terms are too tough and it wants be deal rewritten. Time is running out, the agreement expires at the end of the month. A shakeup at Starwood Hotels which owns sheraton and w. The ceo has stepped down. Starwoods board says it is time they speed up company growth. The Parent
Money. Its a new week here on Market Makers. I am Erik Schatzker. I am Stephanie Ruhle. A new leak. Its so cold. There is some breaking news on the Manufacturing Sector this morning. Scarlet fu is out of the newsroom with the headlines. The number here is a disappointing one. They were anticipating a decline. On prices paid, this is a measure of inflation. A change of 35 when economists have been looking for an increase. One gauge people look at is the employment some employment sub index. Here we are looking at a decline in february 2 51. 4 from 54. 1. We are also waiting for Construction Spending numbers. Those numbers have just crossed. An unexpected decline of 1. 1 when economists were looking for a slight increase of 3 10 of 1 . Nevertheless, when you look at stocks indexes are at session highs. Thank you for the latest. The top business stories of the morning. Hewlettpackard is expanding its business. Aruba makes Wireless Network infrastructure that is mostly used in hotels unive
With five other world powers and iran. The selfimposed deadline is today. It statement is expected once russias representative returns. He is sounding more optimistic about the process. One can never be sure with anything 100 but if nobody makes the stakes too high and tries to benefit or get some advantages at the last moment, i believe so far the prospects are rather good. Betty the ultimate deadline for a deal is june 30. The Prime Minister of greece is seeking support from his opponent so everybody can be on the same page on the bailout issue. He wants opposition lawmakers to biacks plan for ending austerity. We want a new agreement for development. A new agreement that must have been necessary restructuring of the debt because no country when it has a debt of 180 of its gdp can safely come out to the markets. This is the sour truth. Betty greece and its creditors are far apart. European Officials Say the proposed reforms do not merit more bailout money. Everybody complains about t