Interference and they make decisions strictly based on science and health care alone. Science and health alone, not what the political consequences are. Vice president harris and i and our entire administration will always be honest and transparent with you about both the good news and the bad we will level with you when we make a mistake we will straight up say what happened and i said at the outset, the honest truth is, were still in a dark winter of this pandemic its going to get worse before it gets better its going to take many months to get where we need to be progress from our plan will take time to measure as people getting infected today they dont show up as case counts for weeks. And those who perish from this disease die week after their exposure despite the best intentions, we are going to face setbacks, which i will always explain to you. But i also but i also know we can do this if we come together. Thats why ultimately our plan is based on unity. And all of us acting as
Injection intended and look set to turn lower this friday. Is the economic reality of the pandemic hitting home . Global virus debts deaths near 2 million. We could be in for another 10 weeks of this at the end of january. U. K. Economic figures. The gdp rolling across the ticker. You see serious shrinkage, 2. 6 in november. That is better than the estimate. The estimate had been for gdp contracted of 4. 6 . The economy, although it is contracting, is not doing as poorly as a survey of economists by bloomberg had predicted. We will continue to watch for any fallout in terms of reaction in the pound, reaction in the gilt. As for right now, as i pull up my screen that i stole from guy johnson, i do not see Much Movement in the pound. 1. 3664 in terms of guilt. 29 basis points. You are still looking at a positive return in gilts. How luxurious. Lets take a look at futures. Red arrows across the board. You can see euro stoxx down right now. Red arrows across the board in the u. S. As well.
Crossing the wire right now. Littlee claims data a earlier on better than anticipated. The personal spending number, michigan number is crossing the tape. Again, missing expectations. We had an 80. 7 read and the last number, 81. 4. The expectation, 81. 1. In terms of current conditions, they are down as well. It is the expectations number that is interesting. The forwardlooking indicator coming in. It is still a relatively soft number. The inflation number is coming in in line with expectations. Housinga soft number on because housing has such has been such an area of strength. New home sales fall into an 81 40,000 annualized rate down 11 and well short of expectations. The estimate was for 994,000. Yesterday we saw existing home sales data falling for the first time in six months, so it may show cracks emerging in the housing market. Elaina, theore with senior u. S. Economist. Obviously, a mixed picture. I want to focus on the consumer short ofthat came up expectations. What does tha
But enthusiasm still remains. Lawmakers are getting closer to a stimulus deal. Slowing toitcoin is that magical mark of 20,000. The allimportant Federal Reserve strengthening its commitment to support the u. S. Economy. Its taking an awful lot of support, but investors still remain so positive and how the economy will fare in the months to come. But perhaps not in the weeks. Joe the current environment for the economy is expected to be soft with this resurgent of the virus. But longterm expectations are good, and things would look even better most likely, at least according to economists and investors, if there is a stimulus deal. One and more get expanded unemployment insurance. But unlikely to see any deal on Liability Protections or for state and local governments. So priorities for both parties are kind of off the table. Romaine and a much smaller package than what we were talking about a few months ago. This could potentially serve as a bit of a bridge until the economic recovery
Leave rates at zero through 2023 that lit a fire under the 10year yield. Take a look at the 10year treasure true yield. This morning it was at. 91. It it spikes 2 basis points up to. 93. It has moderated just a bit, but still as fear. Seeped out of the markets, that yield was higher. The prospect that money will remain cheap to borrow is definitely certainly a boom, but it was during this News Conference where the dow, the s p and the nasdaq along with the russell is taking aim at a report close, all of these indexes came off their lows. The dow turned positive a second ago. It needs a gain of 18 points, the s p needs to see 7 points to the upside its already up 10 to see new records. Look at financials. They were all negative before his speech, and right now most are positive. Lets call citi flat on the session. Gold, interesting behavior here. Gold yesterday moving higher, and we do today see the yellow metals continuing to jump another 9. Commerce bank is calling it at 2. 000. Bitco