were up, and then lifted nicely at the pfizer announcement, 1.11, up 12. we are near dow 30,000. to me, the clarion idea is that the vix is peeling away the fear , the volatility that is out there come up with a vix at 22.01. jonathan: wejonathan: have been doing that since the election, and the move got a big boost of the pfizer news from last week. the final efficacy rating, and the number is decent. lisa: 95%, better than the initial read last week of 90%. s is the mark on brands this is the more comprehensive data. of over 65, so preventing illness. an incredibly good display here. the interesting thing to me is that we are not seeing more of a reaction in markets. it is already baked in, and in fact, you are seeing bond yields a little lower on the day. they are just flirting with this idea that long-term, we are not changing the scenario, even with this incredibly good news. equity futures are elevated on the s&p 500. a big move in the equity market. we stayed elevated
thrilled you are with us on bloomberg radio and bloomberg television. it was not the surprise of moderna on the ratios. it was the surprise of how well they are able to get the vaccine out. that lifts markets up. is a correlated left pop it is a correlated lift. jonathan: maybe the message is don t bet against human ingenuity. keep the faith and the science. last week it was pfizer. this morning, moderna. the efficacy rate, 94.5%. it is where the rally is that gets people s attention. it is not the big cap tech. the story that rolls up his small-cap america, and the international value story as well. that is the great debate of this very moment, the short-term problems, the issues across america, and the long-term hope that we get that texting. tom: lisa, what do we see we get in the vaccine. tom: lisa, what do we see in fixed income? we are not at the full faith and credit of november 9, but what do we see in ig and high-yield, as we see yield up, price down? lisa: yield
fromsion off of the news pfizer. let s just frame where this market is. i ll let lisa worry about bonds. i am looking for an entry point, and i don t have one coming with s&p futures out to record highs, up 120. jonathan: let s get straight to the price action of this moment. equity futures are absolutely surging, up by 3.3%. it is a huge turnaround. on the 30 year we go about to 88 basis points. a bit of dollar weakness back through this market, just south of $1.19. a vaccine possibly helping us normalize this global economy. what does that mean? bti with a $40 handle. lisa: it looks like pfizer will get some of the safety data necessary to see whether they can get some of the emergency approval to roll this out. this is what everyone has been waiting for. i simply, what is the circuit breaker to the surge in covid cases we have seen? could this be yet? the market is saying yes, and the chances of higher growth, very high according to the market trade this morning. we can br
we welcome all of you to an onraordinary friday morning bloomberg radio and bloomberg television. it is jobs day. we will look at the state of this pandemic economy at 8:30. but we will also begin to see substantial count and returns from these key states of georgia and pennsylvania. jonathan: really tight races in places like georgia and nevada, tightening in arizona and pennsylvania. that is the focus for market participants. i would go one step further. also a focus on the senate. a reporter a little while ago said it wouldn t be a blue wave, it would be a blue mist if we got a 50-50 in the senate with a biden white house. that would really change the story. then you ve got to reshape the narrative of the past couple of days that have been driving this market. tom: we will get to the data here as we move along. futures, -38. the dollar a little bit weaker. gold up $50 over the last number of days. michael holland scheduled to be with us on the market. i am still trying to
good morning on bloomberg radio, good morning on bloomberg television. too much to talk about. you hear it within those voices, that maybe it is the morning after, and the vaccine is really not out there. now we get into a churn of the immediate news. jonathan: it is a tug-of-war between the forward outlook looking better and the near-term outlook looking worse. a real divergence between the two. how policymakers navigate the former will allow markets to keep the help about the latter. that is the hope for the market. first half of the week about cyclical appetite. 500 downhalf, the s&p 0.6% and nasdaq futures just about positive on the day. tom: we are going to roll the data check here through because it is a mess this morning. i just saw a 93 print on dollar. that speaks to the resiliency of dollar. we ve had a weaker dollar, but we just seem to come back when the uncertainty reigns. lisa: that seems to be the theme with all of the uncertainty on the dollar. when there is a