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Underwriter. Go figure. First, we start off with the fed shocker. Stocks closing off the highs as the Federal Reserve basically said the june rate hike is firmly on the table. Look at the big winners today. Banks, health care, technology, the big losers, bonds, utilities and gold. With june now on the table, are we starting to see the beginning of the next great rotation . What should you do with your portfolio right now . You give up the winning trade for 2016 and cycle into the other one . Obviously pete can speak to the banks. But i thought the soft in the tlt, i understand it, but i think its going to be shortlived. I still think inflationary pressures we had the conversation last night about is june on the table. I said yes. I think tim was sort of with me a little bit. Today clearly puts the fed back into the june mode, right . I think this. I still think the yield curve is going to flatten. Obviously didnt do it today whic ....
In the might be team take a look at what happened overnight in asia. Right now, asia closed up just slightly. The shanghai comp was down slightly. The hang sang up. 30 . Europe in the the early trading right now. See red arrows across the board. These are declines. Pretty mad rat. Basically a quarter percentage point decline across the board. If you check out crude oil prices big thing to watch yesterday. Crude oil up jed yesterday. Biggest jump in five months. After we saw that confirmation of the drawdown that had been suggested the night before, you see right now wti giving back a little gain. Decline of. 51. Breaking news out of north korea overnight that could be ralting markets this morning. The country claiming to have successfully tested a Nuclear War Head in what may have been most powerful detonation ever. South korean said it was the fifth test and had the impact of a ten killton explosion. President obama was briefed ....
The early trading most of the major averages are trading higher. The dax is up by better than o. 6 . The cac and ftse both sitting just under 0. 6 higher. North Korean Leader kim jongun has ordered his country to be ready to use its Nuclear Weapons at any time. He told the military to be in preemptive mode attack. The saber rattling follows harsh new sanctions imposed by the u. N. Over north Koreas Nuclear program. Also, new data this morning on where investors are putting their money to work. Nearly 5 billion went to riskier, u. S. Based junk bond funds. Thats making the groups largest inflows on record. Federal prosecutors have now moved to dismiss the indictment of Chesapeake Energy founder aubrey mcclendon, as expected, following his death. Mcclendon died in ....
That is probably a sideshow to what were really looking at, yields on fixed income. Tom jim polson will join us. O one ever says melt up it is always melt down. What a melt up we are seeing across asset classes. Francine or a belt sideways a melt sideways. Before we go to the u. K. , president obama wraps up his visit to saudi arabia. He is meeting with leaders from arab countries on the persian gulf. He reassured the saudi king that the u. S. Is his countries allied. A u. S. Official said that obama did not unleash back off of unleashing criticism. European Central Bank President may use a press conference of my designs that the ecb stimulus is working. Inflation is weak, but the euroarea jobless rates fell to its lowest level in four years. Coming down faster than. Conomists but exit a warning from billionaire investor George Thoreau who says that chinas debtfueled ....