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imf, and underlying all of this is what we are seeing in the markets. tom: the markets repricing with a handle on sterling and stephen king will join us here in a bit. but i agree, the topics in the hallways will shift. taylor: let s go to the bloomberg first word news. it was the vice presidential candidates turn in the spotlight. tim kaine fended off last night. at one point, the two sparred over reports that trump may have not pay federal taxes. when hillary clinton said he hasn t been paying taxes, he said was smart. so it is smart not to pay for veterans, the military and teachers? and those of us who do pay, i guess we are stupid? he faced tough times 20 years ago. his tact time showed that he went through a difficult time but he used the tax code the way it was supposed to be used and he did it really only. 48% say mike pence won the debate. 42% say tim kaine won. hurricane matthew may threaten the coast of florida. at least 11 people have been killed and count ....
even though officials did not exclude the bond buying thing extended. that is what you need to know. david: continuing on the top story about the ecb. a many tempora can t a mini tenter hampshire a mini temper tantrum. gradually tapering away from quantitative easing. we are joined by paul gordon, our editor responsible for covering central banks, and guy johnson in our european headquarters in london. paul guy, i m sorry. i want to go to you. tell us what the reaction was in the markets over there. guy: the market reaction was fairly fierce, to the honest. may of 2013.be of the market was spooked by that s would have a ecb taper when the current program winds down. but the rational heads are working their way through this. of course the ecb is thinking about a plan for when he needs to wind down, but if you took a look at the latest data, the expectations, in the ecb, the ecb downgrading its projections. the euro-dollar rate, but it did not pick up inflation. it ....
the ecb discussion of possibly tapering markets through markets for a loop. federal reserve officials saying a rate rise is likely to you have that an economic data that came in better than estimated. durable good, factory orders, and the isn nonmanufacturing. the measure of the services economy coming in at an 11 month high. that is where you saw the leg up this morning. seeing on the two-year yield, 0.85%, at its highest since june 2. we see the change in perception again about what could happen with rates this year. that is reflected in fed funds future and the probability priced in for rate hikes before the end of the year. after back up at 61% falling closer to 50% several times and it was below that even as recently as august. we are seeing those perception increases with yields going up, we have seen financials benefit. bank stocks have rebounded today again, jp morgan, citigroup, wells fargo, they have moved not necessarily a one to one correlation with what h ....
steady today, near their highs of the session. look at the refiners in particular. ofre is a shutdown refineries in the caribbean because of hurricane matthew. we have oil prices higher as well with that inventories report that vonnie alluded to. we ve been watching department stores as well today. sales may grow at a faster pace than last year because of rising wages, because of a stronger job market. increase in spending during the holidays come excluding things like gasoline and restaurant sales. you have retailers higher today. wheat also been looking at today. wheat investors are focused on where to hide. end,ycle is going to rising yields and the treasury market not helping these guys. coming full circle back to the hurricane, lumber futures up 1% inay as a lot of folks florida battened down the hatches here in anticipation. lumber prices going higher. david: thank you very much. let s check in on the first word news this afternoon. her: hillary clinton at washing ....
good morning. welcome to worldwide exchange. i m sara eisen. i m wilfred frost. what is that song? you know this song. i do not know that song. more importantly, welcome back. thank you. nice couple days off? missed you. glad to be back. good. good. great to have you back. let s get into the market action. yesterday we saw some softness around about half a percent down for the dow and s&p, a quarter percent for the nasdaq. only financials outperforming. banks leading the way up around 1%. it was the regional banks that did best of all. equities expecting a positive open, but only fractionally about points higher for the dow. let s look at the ten-year note. that s a big fact tore watch over the past couple of days. yields have ticked up significantly. 1.68%. just four or five trading days ago we were down 1.5%. lots of factors being cited, partly rising european yields, talks of tapers on ecb trading. i can t believe i leave and we get a historic move ....