This is Bloomberg Markets asia. Lets have a look at whats been going on. There has been a steeping of the yield curve going on, more flattening taking place. What we have is perhaps an economic slowdown in prospect. Lets have a look at this chart. It goes back to 1986 and it tracks whats going on in the white line into the two to 10 year yield spread. That is indicated by this axis here. Just over 60 basis points between the two of them. The green line is where gdp is. This is inverted. You can the lowest number of growth here, 4 contraction. What happens next is that the yield curve perhaps sees more flattening. We see growth has been improving of late. What happens in the future . We have a strong correlation between the two of them. One of the head scratchers in terms of what we been looking at this year. We had off to christmas break and volatility has been settling going lower, that if we can hold on to the moment in what we are seeing for this rally, we are going to see the asiap
Passes a short term funding bill bitcoin is cratering this morning and its the final session before a threeday weekend. Look for news dumps, europe is mixed and durable and consumer income a slight miss more data come in an an hour bitcoin down for first week since 2013 as Goldman Sachs throws its hat into the crypto ring. Shutdown avoided in washington for now waiting for President Trump and go live to d. C. For the latest. Eric schmit stepping down for his role as executive chairman at alphabet. What that means for the company. Bitcoin is the lead today extending this weeks bearish run hitting a record high on sunday the crypto currency tumbled sharply in asia and wiping out a fourth of the market value in a 24hour span 12. 5 is the price people are looking at for the week youre looking at 30 drawdown as our friend josh brown stepped in. Doesnt get you back to thanksgiving it was about 8,000 when it really started to lift off in late november, early december. Should have had so many
What happened in your christmas household . It was wonderful. At with my sister. And best gifts . You know, the usual what is the best gift that we could get, you know sf what is t best we could do at this point is that appropriate for Morning Television i got socks socks are good. I got some very thoughtful sweatpants i got some sweatpants how thoughtful could sweat pants be they were very comfortable. Did you get new yoga wear lululemon, yeah see, i knew that i was going to get you that, but i knew someone else would. We cant just all keep repeating. Okay. Anyway, im Andrew Ross Sorkin joe kernen is here, melissa lee is here. Becky happily has the day off. A quick look at futures. We have the dow looking like it would open down. A few days where we talk about things opening or at least looking like they will open in the red. Right now dow would be down about 32 points. Nasdaq off about 7 1 2 s p 500 off or rather up margma marginally bitcoin is rising, recovering from a selloff last
Never ending up months in the dow jones while hes been in this first year president well its not hard to explain why please explain x. Guys or you know markets tend to go up and down based on things like the Business Cycle which is tied to Interest Rate cycles tied to global trade imbalances and trade cycles but what weve seen in the last twenty years in america and in the last ten years in particular with Interest Rates near zero effectively the Federal Reserve bank has opened the door to the vault of the s. And p. Five hundred it allowed a few corporations to run him and guerrero all stocks at zero cost to them through Mergers Acquisitions stock buybacks this is what i call america being taken private through a massive leveraged buyout financed by zero percent Interest Rates. So there is no i dont i dont think the world there will ever be a down market in that one were we are leaving the era of a free market capitalist system in america were entering me all feudalism so theyll be a f
Youre watching but unaware. Oh oh so you see what happened there max tuned in to the last episode his hands are in my shot but he tuned into the last episode and what he found was an explanation for why all his big question were missing at. Oh my god why did you do it to me so you know we have another Christmas Present over christmas and that was from donald trump and many people particularly in the markets anyway equity markets and the dow jones and the s. And p. Five hundred they had a very good christmas because techs phoria sparks stock buying panic dow does something it has never ever done before the dow closed at its seventieth record high of the year it has never done that before in its one hundred plus history just so you can see that number down months versus the number of months see down months or in red this is going back to zero about nineteen eighty eight and green is up months donald trump is the only one has had never ending months in the dow jones while hes been in this