Away. Knife edge. Brexit talks near a compromise on fishing, leaving the level Playing Field the biggest obstacle. Can the side to get a deal through today . Sanctions hit sentiment. Stocks and futures flip as the u. S. Is said to add more chinese officials to a blacklist and the rollout begins. Coronavirus vaccines start in the u. K. Tomorrow. The u. S. May follow suit by the end of the week if the fda gives emergency and approval emergency approval. I have been away for six weeks on paternity leave. It has been fantastic. Not much seems to have changed in terms of markets. We are still in crunch time. We are still looking at covid infections rising to alltime highs. We are still looking at u. S. Stocks rising as well. I guess the vaccines is the hopeful sign. Maybe this week, the good change we have all been waiting for in 2020. On return, everything has changed and yet nothing has changed. Certainly new information. That has been a real game changer. But we are still as you say at c
Worn surging numbers may undermine a Global Recovery. Plus, we discussed prospects for the u. S. And the wider picture with the atlanta fed president , who joins us this hour. Haidi lets look at the sydney staggered open, the friday session muted compared to the street we have had in asian stocks, asiapacific stocks seeing 13 consecutive days of gains broken by the thursday session, the longest winning streak since 1988 coming to an end. A flat stock a flat start in sydney, kiwi stocks up, muted start in japan spite heavy inflows of foreign buying. We are seeing a further downside when it comes to trading in the futures session. Getting secretary mnuchin speaking at the moment. He is speaking in an interview with Bloomberg News, saying financial conditions are quite strong, that companies that are need grants,covid not that. We heard secretary mnuchin earlier asking the fed to return unused coronavirus money. We will get you more as we get those comments. This is coming at a time when
Some signs of nervousness is also showing for the banks. Bonds are rallying a little bit so that means yields come in and that weighs on the bank so thats a little bit of a pause in the cyclical rally. How does the market really react to what the economists are seeing . They say we will be good in the second half of next your but have a really tough spot between here and there. Have the markets price that in . Abigail the markets do not appear to be pricing it in all that much. As you know, some of the longer term charts are starting to show the possibility that equities in particular are stretched and there could be some sort of sharp pullback for the end of this month or the beginning of next year. That could very well reflect the air pocket the jobs report for november is very disappointing suggesting december and january could be worse. It appears theres some sort of awkward middle ground in the First Quarter of 2021 and maybe beyond. The optimism that the vaccine will bring to the
Ofodollar getting a bit traction. The dollar is going down. This is part and parcel of the yellen trade, which seems to be getting reaction now. It will be interesting to see how she works handinhand with the fed chair. Minutes,e last few crude went through 45. This is wti. We are backing off the little bit, but that line in the sand is the highest level we have seen since march 6, which gives you an idea of the turnaround we are seeing. The big question, is it running too far, too fast . Alix some analysts starting to scratch their heads a little bit, particularly as they look at the curve. President elect joe biden said to announce his selection of former fed chair janet yellen as secretary of the treasury. Joining us as michael mckee, Bloomberg International policy and economic correspondent. What about this appointment is giving confidence to the markets specifically . Theael janet yellen ticks most important box for investors, she makes them money. Take a look at what happened whe
The influencer jon ferro for you on Bloomberg Radio, bloomberg television. Got all of this going on this morning. I want to do the markets to start our simulcast in this hour. We will do the data check as we talk here. Spx up 0. 7 , and once again, the nasdaq less. Is the trend in place . Jonathan the trend is in place, and the small caps outperform. Many people, and the words of jonathan callup, willing to look of Jonathan Golub, willing to look at the forward outlook. Tom we are getting into all of the year ahead looks and all of that parlor game. D a fewwhat ferro di years ago. Forget about it, wait for march. Would you say the consensus right is cyclicals, materials, and small caps . Jonathan overwhelmingly it is the consensus. That is the story. The other consensus story as well is the weaker dollar. Socgen out to 1. 27 on eurodollar, year end 2021. We still havent got through those levels from late august. We didnt close below them yesterday. A little bit of weakness again this m