There are some things going on outside the market. Good morning. Emma the Trump Administration is opening the door to more oil drilling in atlantic waters. The president awarded the interior department to auction oil and gas rights off the east coast. President obama had ruled out using that territory. Police say it would be a suicide bomber who chose to explode a bomb in a subway station because of the christmas theme. He is described as a 27 euros m a great from bangladesh. He told police he was a follower of isis. The u. K. Once a trade relationship to eat you identical to the one now. The International Trade secretary said that would ensure a smooth transition. They already have harmonization with the eu. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries, this is bloomberg. Alix i want a Million Dollars for christmas. David thats unrealistic. Thats a really good deal. We will have all of the obligations and no say in the eu. Fo
We are halfway through the trading day from one of the final trading days of the year. Abigail doolittle is with us. We got a huge tax overhaul today, but the market already knew that. Abigail yes indeed. Small declines. We do have the news of the taxcut bill being signed today, put into the law of the land. On this, very small declines. Atestors are looking past it this point, having priced it into some degree already. At gains, not huge gains, but were looking at gains. This is where we are seeing bigger action, some of the alternatives, fiat currencies. Bitcoin, we cannot get away from the bitcoin story. Down 17 . Earlier today at one point come down 30 . Bear market in one day. Tremendous volatility, the worst day since 2013. Bitcoin did come into existence in 2009 as an alternative to Financial Institutions after the financial crisis. Other alternatives to be fiat currencies, gold and silver. Even though the dollar is higher typically you dont see that. Interesting to see all of t
Yield curve beginning to stephen. Stephen. Steepen. They will be less foreign participation for treasuries. When you add in the 700 billion next year, we think that the rest of your recipe for a steeper curve. Is unlikely the curve ends steeper than it is currently . Unlessunlikely the fed starts the ease. Very unlikely scenario. Very much likely contining to flatten. Inflation maybe ticks up a little bit. The yield curve continues to flatten. Critically, it does not invert. Im worried about it, too. I think we need a watch it. She 10year treasury, high 230 is meaningful. The history of inversions is such that it is tending to be a reliable forward indicator of recession. Whatever you think about the way the world is supposed to work, it does not work that way in the last two weeks of the year. I think its a function of very Strong Equity markets. If they were to correct, they would go back down. I want to see them stay there after the first of the year. Jonathan joining me in new york
Hannah elliott has a tough job. She gets to drive the most luxurious high tech cars around the world for a living. The list to say, hannah has an eye for the best and she says it turbocharge for ari grand jury is no is a thrilling drive that will get you hooked, fast. Hannah when you hear the word for ari, you probably think fast or maybe risque. What you dont think is practical. Errariery is not for i drove two hours outside of new york city to a fourthgeneration orchard and the farm. I wanted to test our practicality. Im hannah elliott. Lets go check out the car. Hanna this is great. It has something really helpful, tactical. It is higher off the ground then standard. Getting in and out wasnt the usual awkward struggle i often have with lois sports cars. Thisld even call shockingly drivable. This is a perfect ferrari for people who want to drive. The car is itt has a be 12 engine on allwheeldrive. That means it has a beating heart of a ferrari car [speaking in foreign language] in fo