Points. Brent really rolling over by about 5 , much worse than wti. It is now a pure demand issue. You see equities taking it on the chin, as well as commodities. Time for todays top market moving news from new york and our london team. We want to begin in the u. S. Come over Senate Democrats blocked Mitch Mcconnells attempt to advance the coronavirus economic rescue package. Minneapolis fed president neel bloomberg the fed can do more to support the economy. We are being more aggressive. Is there more we can do . Yes. Is there more we may end up doing . Yes, but i feel we are being very aggressive. Alix joining me for more is Michael Mckee. Walk us through what he said, what more they can do, and what is going on in d. C. Michael jim bullard is the one who really scared the markets by saying a 30 Unemployment Rate and perhaps a 50 annualized decline in gdp during the Second Quarter. Morgan stanleys is the closest to that 30 , so he thinks things can be much worse. They still say the f
Likely added 193,000 private jobs last month. And then the Big Government jobs report out on friday. Sara, thanks. In Corporate News, a number of legal headlines out of the Financial Sector this morning, jpmorgan agreeing to pay 614 million in the mortgage fraud case. The late nest a string of legal claims against the bank. As part of the settlement, jpm admitted it defrauded federal agencies by underwriting mortgage loans. At issue, thousands of insured loans that were not eligible for insurance by the fha or department of veteran affairs. Morgan stanley will pay 1. 25 billion to resolve the mortgage lawsuit. Morgan will add 150 million to its legal reserve as a result of the settlement. And a new judge priding over the bank of americas proposed 8. 5 million settlement has postponed entering a final judgment in the case. The decision raises the possibility of additional rel maneuvers. The judge agreed this wouldnt take effect until at least february 19th. Andrew, what was the total of
Last two weeks. The yields on debt that comes due in one month have risen to levels higher than yields for maturity thats dont secure for six months. Thats a big deal because normally an issuer would pay to borrow for longer periods of time. The institutions want to avoid being stuck with debt in the event of a default. Citigroup has told clients it would rather not take treasuries on october 24th as a sign of collateral. Andrew, this a sign your money is no good here. Weve got more on the situation in washington in just a few minutes. I dont know if people are going to be taking paengz or not, but i think we should see a number of Companies Set to post Quarterly Results for today. Before the bell, well hear from the follow. Citigroup, cocacola and johnson and johnson. Intel and yahoo are among the other we will be hearing from. Burberrys ceo is leaving the British Fashion house to move to, guess where . Apple. Angela ahrendts is going to take up a newly created position at apple with
Bank of over two decades is reportedly near a settlement over it role in the scandal. Will this help the banks massive issues . All that and more tonight on this monday, january 6th. Good evening, everyone, and welcome. Its an historic day for the United States and its economic policy. For the first time ever, a woman, brooklynborn economist janet yellin, is poised to be sworn in as the nastions top banker. Early this eve tng senate voted to confirm the 67yearold yellin as the chair of the federal reserve. Shes now its vice chair. Eamon javers joins us live in the nations capitol with more on tonights vote and what it means for Interest Rates, the feds stimulus plan, and the american economy. Welcome. Lets start with the details. How close was the vote . In the end, tyler, she had more votes than she needed. The final vote was 5626. And you may notice that that does not add up to 100 senators. We have a lot of missing senators today because of some of those travel glitches around the c
Reportedly near a settlement over it role in the scandal. Will this help the banks massive issues . All that and more tonight on this monday, january 6th. Good evening, everyone, and welcome. Its an historic day for the United States and its economic policy. For the first time ever, a woman, brooklynborn economist janet yellin, is poised to be sworn in as the nastions top banker. Early this eve tng senate voted to confirm the 67yearold yellin as the chair of the federal reserve. Shes now its vice chair. Eamon javers joins us live in the nations capitol with more on tonights vote and what it means for Interest Rates, the feds stimulus plan, and the american economy. Welcome. Lets start with the details. How close was the vote . In the end, tyler, she had more votes than she needed. The final vote was 5626. And you may notice that that does not add up to 100 senators. We have a lot of missing senators today because of some of those travel glitches around the country. Senators were not ab