Around. The nasdaq with a 1. 4 gain. The dow and the s p following suit, not quite as strongly, thanks to apple and microsoft. The 10year yield back up 256 basis points. Gold taking a little breather. To 56 basis points. To point out some of those companies i was microsoft is up. Adt is up with google taking a substantial stake in adt. Apple accounting for much of todays game. Is up as wellrck on the vaccine part of the pipeline. The markets are up today, some good signs but also some questionable signs. Manufacturing and new orders coming in above 50, so expansionary territory. Englander, in steven Standard Chartered bank, g10 fx research. Huge dynamics at play. How are you reading the current data . Tends toirstly, ism report what is happening among big manufacturing firms. The employment component was. Till soft the commentary around the strong numbers was also very cautious. I would say the impact of the numbers were a lot less than the upside surprise. Definitely, 44. 3 reading fo
Pete said, better to be late and right then open up early and have the market start mismatched. David pretty good for journalism, too. Taylor it keeps us employed. Lets take a look at the markets. It has been a wild week. To comeready for alix back because i still need to recover from this. We are finally getting a bit of a lift with equity markets. Sort of recovering after a day of relief yesterday as well. 1. 50 percentow yesterday, recovering to 1. 55 . Year briefly hit negative on the 10 year at a record. At eurodollar. Not only is this a Dollar Strength story, this is a Euro Weakness to 1079. We are weaker on euro to 1. 1079. We are weaker on euro. David that looks pretty good to me. Taylor lets get a bloomberg first take. We are joined by bloombergs rachel evans and Brooke Sutherland. I just want to recap what a week this has been in the markets. Take a look. David and i were talking about the 10 year and 30 year bond yields, down 25 basis points alone for the week. Rachel, youve
Shery you are watching daybreak asia live from new york, sydney, and hong kong. Haidi we are counting down to asias mamarket opens. Annabelle australia online. The market rocketing as fresh data has traders dialing back bets on another fed hike this year with treasuries rallying on the dollar steady. Il is falling the most in more than a year with signs of demand is structuring overshadowing opecplus efforts. Plus, the Biggest Health care strike in u. S. History. More than 75,000 workers walking out as ford announces hundreds more layoffs. On the inflation front, a good look at south korean cpr, a significant read. 3. 7 we are seeing when it comes to consmer prices advancing from a year earlier. T is really a significant pickup from 3. 4 in august. Economists we surveyed expected the right to get in at 3. 5 . 3. 7 was only forecasted by one econos we spoke to. This does potentially enforce the case for the bank of korea to eep policy settings higher tighter for longer. The bank of kore
For stocks. A little bit of upside on the nikkei at the start of trade. We are still seeing dollar yen hovering at 155. 6. Of course its about whether we get any indication about curtailing of bond purchases from the Japanese Central bank. Seems like the bond markets are betting we do coming on the japanese 10 year government bonds. Lets take a look at what we are seeing in south korea. Yesterday we saw those declines on stocks as the metaearnings and outlook put a dent in what was otherwise a recovery for asian stock markets. Taking stock, weve seen four of the seven banks report and so far it looks quite good, especially after microsoft and alphabet knocked things out of the park, proving their worth and that they are able to make money from aia investments. Weve seen the upside in south korea as well, the korean won moving toward 1370. Lets look at whats going on down under. Australia was on break yesterday. The big news was how bhp is having a takeover approach for the rival Anglo
Costs and passing them on to their customers. Quite a reluctance among firms to do that in the past. Now a little bit more willingness and ability apparently to do that to it janetnecessarily resolve yellens mystery over low inflation but it is a glimmer of hope for people hoping the inflation rate will rise closer to the feds 2 target. All of this is happening in the context of an ever tightening labor market. This is something we are hearing over and over from just about every fed district. Its getting more difficult for companies to fill open positions, find qualified people and thats restraining their ability to grow. One tidbit from this report that i have to share with you is from the dallas fed. Worker shortages were reported throughout the oil and Gas Supply Chain and in construction. Similar reports came from care,cturing, health airlines. Some banks reported labor was becoming a bigger issue than Regulatory Compliance. You guys have heard a lot of in recentg from banks years