Welcome to bloomberg surveillance bloomberg surveillance. Im mark barton in london. Festival of Central Banks, we have the ecb to come, the bank of england, the fed here. Down 1 5 of 1 . Uro, little change unchanged since the last ecb season, october 26. Hasnt fallen to one dollar 1587 on November November 7. Sterling up by 1 10 of 1 today. Today, but its politics thats affecting sterling today, having risen since fps last night. Theyre changing their governments planned legislation, so they guarantee they will get a meaningful vote on the final deal to leave the eu in negotiations for 2019. Coming up today on bloomberg surveillance, we will discuss markets with paul donovan, hear from the s p governor thomas jordan. But get to bloomberg first word news with Sebastian Salek sebastian the fed has raised rates by 25 basis points as widely expected. We also have a growth forecast next year, but maintaining projection of hikes 3 hikes in 2018. Saiding chair janet yellen this underlines tha
Markets. The market closing at another high. A move thats got everyone scratching their head. Earliee today, howard hudnick, brought up what could be the reason why. Its a riskon world. If im going to retire some day, ive got to make some money, what am i going to buy. Im going to buy stocks. And he might be on to something. In fact, take a look at this chart, courtesy of bank of america. The number of people over the age of 65 is growing. And growing fast. Thats the orange line there. Could it be that in a world with no yield, there is no alternative to stocks. Brian kelly, the biggest bear listen, thats my biggest fear. Everybodys worried about the market falling apart. My fear is we get some kind of a meltup. It looks like were starting to have that. That chart that we just showed there of people getting older, to me that ultimately is the biggest bearish case for the markets. Ultimately the people are going to retire, start drawing that income. But between here and there, maybe tha
Gains. What is going on . Looks like oil prices are part of the story. They are making new lows today after inventory reports showed an unexpected drawdown in crude Oil Inventories and a large built in distillates. The map here. We have bond yields lower today. Benefit utilities in real estate and telecom stocks. We have the Energy Shares down. 9 . Materials off by a quarter percent. More evenly split on the wheel between red and green at this point. We see stocks slip on over into the red. When we see the dow is lower today, boeing is the worstperforming stock by weights within that average. We also have to talk about apple here. With tech in the top spot, apple is a big reason why. It is also coming off the highs of the session. Sprint and tmobile made comments that iphone 7 preorders are way above what they have seen for prior models, but verizon is throwing a little bit of cold water on that. The Vice President spoke at a bank of Americamerrill Lynch Conference Today and said that
Yes. Cold though. Some have been saying the last couple of days it doesnt feel like the holidays because its too warm out. View. If you are one of those people that like the cold, this is exactly. Its back. Good morning, im michelle charlesworth. Im rob nelson. Happy saturday. Speaking of the cold, guess who is out there, amy freeze ho, ho, ho. This is what you get for temperatures. December is 12 above average so far. What do you get . We will see you outside with a windchill of 25. Love it. Its colder. Its 48 hours of the actual feel of december then we are back to record warmth. Its the last saturday last before christmas. So, if you got to get out and about which a lot of people do scrambling because the weather is misleading that we are so close to the holidays, maybe you have been putting it off, no longer. Today is the day. If you are going, layer up. 37 on the thermometer. Doesnt sound that bad. The wakeup windchills feeling like 19 in white plains. Same for islip. 19 in toms r
Name a candidate and chances are they are here in iowa. Ted cruz who was front and center last night during a fox news debate is about two and a half hours away from me. Directly due north of a minnesota borderline. That goes to show you how these candidates are in the last second. He has an issue here with his stance on ethanol. Just a little while ago, he tried to flip that issue on donald trump. There it was. It is easy to come to iowa and propose this. They had that position today. I said pick a candidate. Probably in New Hampshire today. She had a modified attack on cruz. Something in the past about the citizenship. Entirely different spin on it. Crews may not be a u. S. Citizen. He is an anchor baby. Ted cruz is an anchor baby in canada. Canadas do not accept that. That was trump a little while ago in New Hampshire higher. He hosts seven events saturday, sunday and monday. Trish thank you so much. Crisp on joining me with their analysis. You are already shaking your head. What is