Place to stake your claim. And tony maintains home is where the coffin is. Get ready to risk less and make more options action starts now. That was super spooky lets get right to it following a troubling stat for the Housing Market as people flee the cities for the suburbs. And look at the treasuries, yee yields on the rise but carter is laying out a call for your portfolio take it away you dont think of financials as being a safe haven or defensive, but yet given the action of the market and what is happening to yields and this is a followup from the tlt trade of a week or so ago i think its important to look at banks. The first is a 10year yield chart. I like to call it a bearish to bullish reversal but forget what i call it. Something that goes down and starts to curl up. You can see it is starting to rise that is an important development. Take a look at the next chart. This is kre. It is identical. Thats all a moving average is a changing trend is important. And more often than not
Struggle with a contested election, and i dont think we with a delayed or contested election come i dont the queen of the interest to that. Guy unresolved contested election, and i dont think we know the answers to that. Guy unresolved issues. Services come in, and it is a miss. Just reinforcing the idea that maybe as the virus numbers continue to pick up in the United States, the Services Sector will feel that, and just reinforces the idea that may be of this trajectory continues lower, we will need more stimulus. That is looking a little bit more down right now. Alix and the number of tremulous of stimulus is much less likely now. The president ial election does remain too close to call, and a could stay that way for days. Joe biden leading in the Electoral College at the moment, taking the lead in michigan, wisconsin, and georgia. Going us is jeanne zaino of iona college. Where are we now . Jeanne we are at 238 for joe biden, 213 for President Trump. We are still waiting for several
Where the coffin is. Get ready to risk less and make more options action starts now. That was super spooky lets get right to it starting with a troubling stat for the Housing Market as people flee the cities for the suburbs new data shows millions are behind their mortgage and rent payments and look at the treasuries, yields on the rise if youre looking for a way to play offense and defense we have a call for your portfolio. Carter is laying out a call for your portfolio take it away you bet you dont think of financials as being a safe haven or defensive, but yet given the action of the bond market and what we know is happening to yields and this is a followon really from the tlt trade of a week or so ago we think its very important to have a bet on Regional Banks lets have a look at a few charts the first is a tenyear yield chart. I like to call it a bearish to bullish reversal but forget what i call it. Something that stops going down, starts to base and eventually curls up you can s
Will talk about this later on, but seems like europe is edging one step closer to that 1. 8 trillion euro recovery fund, which would be huge, particularly as the u. S. Cant get it on stimulus. So huge that the euro barely budgets. [laughter] alix it could be worse. Guy it is big news, but i think there was belief in the market that this is a done deal, and europe will ultimately come to the right conclusion and make the stimulus happen, 1. 8 trillion euros. So i think the market had already priced this one. As you can see, unchanged on eurodollar on the back of that. We are getting the jobs data coming through. 6. 43 islittle light, the number. 6. 5 was the expectation. Actually, the prior number devised down a little bit as well. So maybe a little bit of softer data coming through, but the market doesnt care. The market is looking through the virus. All of the bad virus news, you can put that in the rearview mirror. That certainly seems to be the sentiment right now. Lets dig around w
Well in many states. Businesses are holding back from spending amid the pandemic and stimulus talks appear to be at a standstill once again with leaders from both sides accusing one another of moving the goal posts in the negotiations. Unlikely we will get a stimulus before the election. 59 minutes to go, dow down 2. 2 . Lets get to the stories we are watching right now as stocks fall sharply mike santoli is tracking the market selloff for us. Which parts he is watching in particular meg tirrell digging into the latest covid numbers mike, whats the broader take on what is happening today average bit of a rethink on a mull pent fronts the idea that covid might cause more business disruption last week the s p 500 was skirting this boundary between this sort of breakout level we had and around 3,400 we are actually below that right now. Did a little bit of damage s p and the nasdaq fell below the 50day average the s. A. P. Warning probably evented the nasdaq from doing a better job of sup