Surged as lead by amazon well have more on that in a minute jim cramer said it feels insane. Im wrong to say that at the moment u. S. Equity futures at this hour show you how it stands. Well have another day in the green. Dow up 230 points. S p 500 up we should show you treasury yields now at. 0617. All i do is think about my 10year mortgage i dont have a 10year you have a 30year, which you regret i wish i had a fiveyear arm. You could still have a fiveyear arm. You are giving it to the man you are. Giving it to the suits. We are seeing a bit for bonds and equity even higher a reach for safety even though we have a risk on. The eu has reached a breakthrough deal agreeing to 857 billion Recovery Fund it will raise money by selling bonds collectively disbursed to the maybe countries hit the hardest that do not have to be repaid many countries including germany had long opposed also agreed to eu budget of 1 trillion beginning next year brining the total spending agreement upwards of 2 tri
Order ending preferential trt for hong kong and said he would sanction chinese officials responsible for crackdown on political dissent. He has taken this opportunity to attack everything from what he calls the china virus, the who, and his democratic rival joe biden. Of course, he has taken the chance to really talk up market gains we have seen recently. Absolutely, and talking about the prospects to get a vaccine in the u. S. And what he says will be record time. A pretty wide range of issues being focused about by the president. We will continue to dip back in as we get lines, but lets get some context. Mario, a pretty wideranging array of topics being addressed by the president. It is really just to the drumbeat of escalating tensions and tit for tats we are seeing between washington and beijing. Absolutely. You described it perfectly. Months, the Trump Administration has been pantomiming that he is going to be tougher on china. He has increasingly pointed to china as the reason fo
Some demonstrators across the u. S. Say that fed up with ongoing coronavirus restrictions. In some shops and schools reopened in germany one of several countries easing research. The grim economic fallout of the new coronavirus pandemic for 1st time in history u. S. Oil prices crashed below 0 dollars into negative territory on monday its just rebounded in asian markets to around 2. 00 a barrel but why did the crash happen in the 1st place well thats because theres more oil in the market because of low demand and produces a fast running out of storage lockdowns around the wall the response to the coronavirus have produced a massive slump in demand for energy u. S. President donald trump says the collapse in prices is short term and suggested that it could even be a positive thing for america. Based on the record low price of oil that youve been seeing. At a level thats very interesting to a lot of people were filling up our National Petroleum reserves through dziedzic you know the Strat
Really, all eyes are on the treasury markets today, where ae 10 year yield is at 11 level we havent seen in a while. There was a bit of a joke this morning when we got the mammoth refunding announcement. Crude oil, down 5 . There was a boost after inventories were lighter. Back downown to now at 2330. Disney, moving today after earnings were not as bad as people maybe anticipated. Up one quarter of 1 , they got a boost of about 4 after earnings. Lets get to taylor riggs now, standing by with a deeper dive into todays action. Taylor folding that into Something Else we are doing on the yield curve steepening, between the twos and attends. And the tens. Some of the stimulus programs we have announced, the treasury this morning announced plans to sell twentyyear bonds, you are seeing a steepening of the yield curve as you expect more supply to come. I want to flip up board and talk about technology. Isney, the tech index positive for the year. Its the only sector in the s p 500 back in the
Shrinks, but it doesnt set the u. K. Up for a good spot Going Forward. We are seeing the relationship between fiscal and Monetary Policy really evolve the u. K. We will break that down over the next few hours. You are seeing bond markets bid across the board, as we are koff develop. We want to kick it off with Michael Mckee. Theld central bank mike,entral banks if i say mmt, am i wrong . Anyway. Yeah, [laughter] its confusing, though, what is going on with the economic philosophy called mmt. Yes, it is unlimited cash in unlimited amounts for unlimited periods of time until we get through this. Youre still going to work your tail off today before we get to 4 00 p. M. Lets start in london come over the bank of england is going to finance Government Spending for the time being by lending money directly to the treasury. It is called the ways and means facility, a shortterm credit the last used during great financial crisis. Government and the bank say any borrowing will be repaid by the en