Via the coronavirus, and there is not much of the fed chair can say. Coronavirus is making all the decisions on the economy. Weakersales coming in than expected, actually the weakest since april. The High Frequency we have seen since then suggest the economy is slowing even further into november. The problem of course is there is no help from the fiscal side in washington, no talks about any additional covert relief package. Getting to the end of the year, most of the cares act expires. So people are looking to the fed, particularly people in the markets. They are looking at the yield curve, which has steepened slightly, still under 1 on the 10year, but there is a feeling that if the fed wanted to do something they could start buying at the longer and, changing the weighted average maturity of their purchases. If they did that, push down on Interest Rates. There is a feeling they may do that in december to send a message that we cannot do a whole lot to stimulate the economy but we are
For a september quarter. There are also concerns about the ant ipo fallout. And america awaits the outcome of the president ial election, seven states now holding the keys to the white house. Wisconsin heads to a recount and others face challenges in court. Foropen here in sydney friday trading in asian markets, we have seen an eerie calm and trading across equity markets, and globally, on expectations that policy gridlock will me know extreme measures when it comes to the tax front being taken and more status quote when it comes to the visible markets. We are up. 2 when it comes to sydney, the in aussie dollar and commoditieslinked currencies it particularly well. We have the u. S. Dollar fall to its lowest in two years. The nikkei 225, we expect weakness going into the open but we have japanese stocks trading in the green every day of the week. Also watching the yen, but interestingly, as an election respirometer, we continue to watch price action in china as well as volatility in ch
There is quite a lot going on in the markets mainly because of the threshold that markets crossed yesterday. Lets have a look at what that means for european stocks and even the global stocks rally pausing. We did have the best monthly gain in three decades. Investors awaiting a lot of Economic Indicators that could support the. Rally in risk assets. We have Consumer Confidence and of course personal income. We did have a gauge of asia pacific shares gaining. Above 45 alding barrel, and i also wanted to show you bitcoin and a second, because they were also, you know, within a sliver of a record high for bitcoin. At 19,130. It now lets get to the bloomberg first word news in london with leighann gerrans. Hi, leighann. Leighann good morning, francine. France will gradually start using its lockdown from sunday. Museums will follow suit from december 15, but restaurants will remain closed. President Emmanuel Macron says vaccinations could start at the end of december or in early january. M
Equity futures lower on the ftse. The s p 500 went down. Bid into the bond market. Into the bond market we go, negative almost 60 basis points on a 10 year. Its like a throwback to our days together five years ago. There is some weight to this. Good morning. Annmarie certainly, it is. Were so excited to have you back. An absolute gladbac bloodbath, nymex dropping below 39 as the resurgence of cases in europe not going to bode well on the demand side. The supplyside worried about libyan oil barrels. Softer. A bit this is the prospect of fresh stimulus. That helped treasury yields rise. Jonathan thank you. Lets get the first word news this morning. We can do that with laura wright. Laura china is laying out a new plan for Economic Growth this week in beijing. President xi jinping is holding a meeting to decide on the next fiveyear plan. Its expected to focus on technological innovation, economic selfreliance, and the environment. But the event is closed to the press. Key decisions wont b
Across this nation and worldwide. In morning on bloomberg television. Coming up, an important conversation with the vice chairman of the Federal Reserve system, Richard Clarida of columbia university. Jon, were way out front on the collapse of the United Kingdom suffered on the pandemic. But the bombshell you and i didnt see was the Prime Minister taking this Natural Disaster out to march of next year. Jonathan and maybe beyond. We certainly didnt see that in march 2020. We had three months of happy talk around europe versus the u. S. Many people have come on the program and talked about it. The data is not great either this morning. The service data softer than people expected. Manufacturing data ok. Do we start to hit some road bumps not just on the policy around covid, but also on the economy and this recovery . Tom what is your measurement of the American Economy now, in the many conversations you have on this . I am getting the sense of down big, up big, but i dont understand wher