Rates because they have already accounted for trade. Id weve taken caracalla weve taken care of that, i didnt have to worry about every up and down in trade negotiations. The nature of the war is that you have titfortat going on all the time. It is not reasonable for Monetary Policy to respond to all of these threats and counter threats. Weve already taken that into account. Trade regime uncertainty is high , and we are putting that into the Monetary Policy calculus. Alix then you have a three month tenure curve that doesnt want to listen threemonth10 year curve that doesnt want to listen. David i dont think markets believe him. Alix it is an extraordinary day shaking out. Equities continue to climb. We are seeing some followthrough buying, watching some moving averages. In asset classes, it is a really unbelievable day. Money flooding into all bonds. Europe. Ves over in almost 60 basis points in the tenure german bund yield. Amazing actions by Central Banks across the world, new zeala
That is hurting profits. David they were downing trading but they were expecting to be down in trading. Its all about net Interest Income. It sort of like wells fargo yesterday. More nettually Interest Income than last year that it was below what is expected so they are getting punched a little bit. David we will keep our ought alix we will keep our eyes out especially in that conference call. We are in a tight trading range. The tightest weve been in since nine days over the last week and a half or so. Eurodollar pretty much flat. In the 10of Movement Year as well. Crude up by 8 10 of 1 . I felt like a left and came back and everything was the same. Pretty much steady as she goes. David things will really happen now. Eddie 30 we will get used u. S. Housing starts at 8 30 we will get u. S. Housing starts. Facebook has it second day in congress on his liber proposal before the House Financial Services committee. At 12 30 we will hear from Esther George on the Economic Outlook. After the
David and what did he think . Alix board. He talked about all of the bored. He talked about all of the hasht ags. Boring. That much what he said. If you are Corporate America listening to the democratic debate, you are saying oh my gosh, what am i in for . David it is a very different attitude from President Trump in 2016. They really want to take on big business. The Ford Motor Company has put some numbers around their restructuring in europe. They are going to lay off 12,000 people. We already knew they were laying off 5000 in germany. The is this is part of overall restructuring effort. Said they are pulling back in europe. Alix germany, ukraine, russia apparently the hardest hit. David they havent been making a lot of money in europe. Thats be frank, all of the european automakers have been having a tough time. Gm got out entirely. It makes sense, but it will be very difficult for a lot of people in europe. Alix take a look at what is happening in the market. Not a lot come of the
Im Katie Greifeld in new york. Welcome to bloomberg markets. We have good news. Stocks, s p 500 up. 7 so far. If these gains hold that would be the second straight day of wins for the s p 500 which feels like hasnt happened in a while. Big tech, the nasdaq 100 currently higher to the tune of. 9 but as we know, everything can change tonight when we hear from tesla, kicking off a big week of earnings. I did want to check in with the bond market. It yields were at higher but now moving lower, the 10 year yield lower by two basis points, very quiet day so far. We will see if that holds. From the bond market to airlines , jetblues nosedives with revenue said to fall more than anticipated this year thanks to bloated capacity in latin america. Last month jetblue laid out plans to drop routes and we have the details. It is pretty brutal. At one point falling by the most since 2020. Brooke this has been the story of the past year for jetblue that they just had too much capacity and is way out o
My chart of the morning has to be with carper copper. ,ou are looking at nineday run the longest winning streak since 2004. What it means for inflation, we will dissect that. David lets find out what is going on outside the business world. Emma some new Jersey Transit riders are facing decades of tax hikes to subsidize a new 12 billion into manhattan. Outgoing new Jersey Governor Chris Christie proposed a surcharge in his state until at least 2038. He canceled the hudson river rail tunnel in 2010, saying he did not want to burden taxpayers. The great lakes is dealing with recordbreaking snowfall. Yuri, pennsylvania was hit particularly hard with 63 inches of snow since christmas day. At least another five to 10 inches are expected. Chinas leading policymakers plan to discuss amending the National Constitution for the third time since 2004. The decision was made today at the meeting headed by the president. The party will convene in january. There are no details where possible changes c