Is david asman. Joining me on the panel gary, zachary liz. Attended christine on the Stock Exchange. Was it the Oil Price Crash that set this all . Reporter several factors, one has to revolve not necessarily the virus itself but the panic around the virus as well as oil, it is so difficult to price and the Economic Impact and what the virus is going to do to companies acrosstheboard which is why you sell the selloff today and we have a Circuit Breaker halt all markets when we saw it fall down 7 . That helped liquidity but using acrosstheboard everything over 7 lower for the day. Oil hitting a low we have not seen since 1991 and that really did hurt shale producers across the country across the globe and it shifted investors to move their money into safer bet like ten year treasury bond and thirtyyear treasury bonds. We saw the ten year drop to 31 basis points, that is 0. 319. Not even percentages anymore. And the same thing for the 30 year yield, it fell below 1 . These are numbers we
Meaning less demand for oil. Meanwhile similar story in bond market, yield on 10year treasury below 4 tenths of a percent overnight. Now we are staying right under and it is down 28 basis points. Again, another indication of a recession at hand. The 30year following 1 for the first time in history. The 30year bond, the yield there at. 883 . Thats down 40 basis points this morning. Global markets reacting to all of this this morning in the stock market. Deep selloff in europe. The cac quarante down 335 points. That is 6 and a half percent and dax index in germany lower by 672. Overnight in asia across the board. Chinese experts tumbled in the month of january, more signs of trouble in japan as well. First quarter gdp lower in japan showing the economy contracted 7. 1 from the previous quarter. Thats a sharp contraction in japan. This on top of the Coronavirus Crisis, cases in the United States and abroad are growing. The white house looking into emergency measures. Overseas italy report
An aussie market, had a lot of conviction yesterday. It look at some of the other and allrtainly sterling this, perhaps some doubts about brexit again, if there will be a hard brexit. There are reports Boris Johnson is planning to legally block the brexit transition from extending past january 2020. Have at the moment unnamed sources, but theres always the risk of these losses being clawed back later in the day. , they havego, yields gone up to 1. 88, we were just that one point 87. The hong kong dollar is something david will tell us about in just a little bit. We dont often see that, do we . It is the fed, but it does not mean you cannot make money. We are on the longest rally in five years. Trade. Ly incentivizing the head of asiapacific microstrategy at state street markets, great to see you. We are climbing over walls of worry. What is the other wall ahead of us . We have a few. As we come into the latter part year, iear into next actually see we are in for another strong period,
Nasdaq off by 35 we have been thinking the new deal would be by december 15 the huge question is do those new tariffs come into effect the market has been punched in the mouth twice since yet yesterday, futures were up almost a full percent. The first china news yesterday that things werent looking great for december 15. These new comments imply phase one is not nowhere but if people are still thinking december 15, thats hard to believe yesterday, the pull back was the worst day weve seen in months but still talking about a decline. The dow up 4. 2, s p up by 5. 5. Well see today while the move yesterday wasnt too significant, volatility spikes more dramatically that implies that todays move was not unexpected we may see bigger moves in the days ahead we have the sound bite. Getting to the comments from willem marx in london. The president arrived here late last night. Stayed at the u. S. Ambassadors residence. He gave some Public Comments including on china saying he wants to wait unt
The dow and nasdaq not far amazing suits and float around behind. S of tiffany surging the cabin. It will be a great market after all. I see you are talking about space suit this morning interest in acquiring the that was designed by under company for 120 a share. Armour the next investing frontier, one of the questions that gets Virgin Galactic set to make the put to me a lot is how do you public debut here at New York Stock Exchange this morning. Sir Richard Branson will join us know it is going to be safe . First on cnbc. When it comes to space i mean so, markets are chasing some history this morning the s p is on track to open at space is hard, it got to go off an all time intraday high. On friday, closed within six without the hitch. Points of that record level no room for error here after being fractions away from setting a new milestone. How do you ensure thats the case and what do you tell jim, a lot of the bears arguing what has gotten here from july has been healthcare and ut