The holiday period. Federal reserve chairman Jerome Powell says the central bank will maintain its efforts to support the flow of as americans hunker down from the spokevirus pandemic, he on the nbc today show. We are not going to run out of ammunition. That doesnt happen. ,e set Interest Rates in time what we think is giving the economy the right level of support. If we raised Interest Rates more, it would have been higher than we thought and Economic Growth would have been slower. It would not have mattered in the end. We are always setting our Interest Rates at the level we think is appropriate. Carowell says mortgages and loans are among the areas that the fed can step in. Global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in armorhan 120 countries, ritika gupta. This is bloomberg. I am ritika gupta. This is numbered. Vonnie it is 1 00 p. M. In new york, 5 00 p. M. In london, and want to click a. M. In hong kong. In
A postbrexit trade talk. Matt good morning, lets take a look at what you need to know this morning, starting with gold. It is on track for a fifth day of gains. Lets look at the nasdaq, why dont we . Yeartodate to date, hitting another alltime high. There you see gold. Actually down this morning. If it rises, it will be a fifth straight day. Interesting to look at u. S. Treasuries right now. We do have a story out on the bloomberg where Michael Kelly from pine bridge investment expects it to be up to. 5 in the spring. Almost 100 billion. Have to listen to what he says about the 10 year yield. In asia overnight we see gains in european futures. Tech shares is really the top headline. Amazon was among the top performers. It reported a recordbreaking Holiday Season. Bloombergs index of consumer comfort hit a nine week high on greater optimism about the economy. What do you think about all of the good news we have had on tech in the Holiday Season . Haseems like the growth expanded at a re
Were these demonstrations over the Christmas Period targeted in small pockets or widespread . Dan mostly small pockets. Targeted at shopping malls in particular, looking to hit the retail sector, which has really been battered by six months of protests. We saw clashes at shopping malls. 20 people were injured. There is another rally tonight, in a suburban area of hong kong, and a couple over the weekend, all pointing to the big rally downtown on new years day. Matt what are the plans for that big rally, further protest . How organized is this movement . Dan the Group Organizing the een convening some of the largest rallies we have seen. There are various elements of the protesters. Siderganized side, the that tries to abide by laws, and then the frontline protesters, the ones lighting fires and battling the police, and a sort of work in parallel. On january 1, thats organized by a group that tries to get police permission. That is pending right now. We are likely to hear about 48 hours
Today, along with utilities. The dollar index weaker. Lets get to the markets now. Joining us in studio is Dennis Debusschere, evercore isi head of portfolio strategy. We have a great piece on the bloomberg today talking about the decade beginning with everything crumbling and a lot of panic, and now we are heading into a new year when apparently nothing can go wrong. Dennis i think part of the reasons the market is acting like that is because people think everything is going to go wrong. That has created what we call the silent melt up. This is actually related to the fire and ice title, which i think is excellent, because there has been a complete change in the relationship between bonds and equities. Bonds are longer duration assets as they had against lung equity exposure globally. That is usually a deflation hedge. Deflation was not something that existed preGlobal Financial crisis. There areist now, and only three Asset Classes you can hedge for deflation. That has anchored 10 ye
Some of the optimism when it trade, s pe tone on futures back down after the cash trade yesterday. Markets are optimistic about the situation in italy, you can see bid, nowian btps are down to 1. 21, less than 200 basis points above boones. The dollarer against as the greenback falls. Italy thatews out of the Fivestar Party has halted Coalition Talks unless the democrats agreed to keep Giuseppe Conte on as Prime Minister. They previously pushed back against that, especially the leader of the Democratic Party, for hisis supporters Parliamentary Group had any say, they will have to concede, because they will want to say. We will continue to cover the story in italy. Coming up, we will speak to nigel wilson, the ceo. You can catch that interview at 11 30 a. M. London time. Lets get to the bloomberg first word news with Viviana Hurtado standing by in new york. Talking, but only if the u. S. Lift sanctions first. Thats according to hassan rouhani, following President Trump signaling he woul