the s&p up by 0.3% as well today. a shortened session in the united states. brent crude up by 0.6 percent. we were expecting an open plus meeting next week. it now looks as if we will have a video call tomorrow. the expectation is that we are going to see a deferral of more crude coming back onto the market despite the recent rise we have seen in the price. gold futures taking a little lower again today. look at that. we are through 1800. plenty of stories to focus on geopolitics once again imposing on this market. kailey: as you mentioned, michel barnier is in london to resume face-to-face trade talks this weekend. both sides warned that large disagreements remain. for more, let s bring in bloomberg european politics reporter ian wishart. i fuel like we are playing the blame game here. both sides pointing the finger. who is going to blink first? ian: i think that is what each side is trying to work out. they want the other side to blink first. they have been having that stra
and maybe the united kingdom, today the ecp meeting is a focus ecb meeting is a focus for america. i have to go to the real yield and i do not know i do not mean your platform, i mean the 10 year inflation-adjusted yield. point 005%.ve one look at the german two year that screams disinflation. jonathan: i will take the promo and build on it. we have talked a long time about rates low for longer and we have to talk about financial conditions easier for longer, that has to be the message. focus on our commitments and the duration in this market with metrics max flexibility. that will be the story worldwide. tom: i make jokes about it. johnny could not get a beer in frankfurt the first time he did his work on ecb meetings. how close to japan, tokyo is christine lagarde? jonathan: in terms of the bond market and amount they are buying? everything coming out of the beiphery, net issuance, will bought by the ecp. ecb. net supply coming out of europe, most of it will get suc
and that because your point on bonds. right now we have the 10 year yield backing up six basis points on the week, up 14 basis points. the worst week for bonds going back to august. bonds selling off. that pushes yields higher on the idea there is some kind of recovery happening around the stimulus. it is going to be interesting to see whether or not the 10 year yield can break out of this range. david: we will have to watch that carefully. we knew the job numbers would not reflect all of the covid surge, but we did not expect them to be showing downward trend before the covid came roaring back. to take us through what the numbers may indicate we welcome douglas holtz-eakin, president of american action forum. he earlier served as director of the congressional budget office as well as chief economist under president george w. bush. great to have you back with us. disappointing on the downside. how much should we read into that? douglas: the real significant piece is on the ho
morning, thevember imf is direct. there is real risk to any form of international recovery. they look at the pandemic data, they look at the gdp data, and they look at the lack of fiscal stimulus nation to nation. this time is different. these headlines are original before a g20 meeting, but we got to get right to this. this is a real wake-up call of the immediacy into december. fromhan: it s an echo chairman powell and president lagarde over the last few days as well. i think market dispenser quick to untangle be short-term from the long-term, to bear their hope in the sands of in the back end of 2021. i think what policymakers are suggesting is that the short-term matters. it can shape what the long-term looks like area when you look at the balance of risks, they are tilted aggressively to the downside. abramowicz, this headline, elevated asset values point to financial stability risk, and i am surprised that is a judgment by imf on where fixed income and equities are. lisa
furman, who was across from chair yellen years ago at the councils of economic advisors. it will be fascinating to see what she does in a very different job. the headline is she has to do with congress and the senate. jonathan: and she is conditioned by the experience of the previous cycle, and i think that is really important. this is about avoiding a premature declaration of victory. chair yellen has lived that, and i m sure she won t want to make the same mistake twice. tom: i am really focused on the department of defense after the chaos we have seen over the last number of weeks, so that will be an important announcement as well. the backdrop here is maybe the clearing of uncertainty, and look where the markets are moving. , 3600.n: on the s&p 500 64% off the is up march bottom. on a long chart, it is actually a very elegant chart with all sorts of good features. you really wonder within the debate of those good conversations opening the show, you really wonder what the