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About the coronavirus, warning there could be more deaths without coordination from the Trump Administration on efforts to distribute a vaccine. From wilmington, delaware, this runs half an hour. Vice president elect harris good afternoon. President elect biden and i just met with some of our nations business and union leaders. Together they represent millions of workers across our country. And some of americas leading technology, auto, and retail companies. We had an important conversation about the impact that this pandemic has had on workers. Especially essential workers, frontline workers, who have risked their own health and the health of their families and many whom have given their own lives to keep us safe and keep our economy running. And we all know that this pandemic and this recession have hit communities of color particularly hard. Black americans and latinos are threetimes as likely to contract covid as others, ....
Optimism come around the trade deal. I feel like i have said that before. We will continue to monitor. Tom we are going to monitor all day. The news flow is extraordinary. Kevin cirilli is ready to travel to nashville for that debate. That is tomorrow with all sorts of news overnight in the United States and frankly around the world. Just one data point we will talk about in a moment. Renminbi out to new strength. Right now in new york city with first word news, here is ritika gupta. Ritika nancy pelosi and Steven Mnuchin are moving closer to a deal on a new stemless package. Alysia hope she can get an agreement this week. That is crucial to getting a bill passed by pull losey hope she can get an agreement this week. Theh mcconnell is warning white house against a pelosi led deal by the end of the month. Trumps campaign has burned through almost all of its money through septem ....
Of mind blowing. Check out these numbers, the six biggest tech stocks losing more than 1 trillion in value in three days apple, microsoft, amazon, microsoft, tesla and facebook. This is kind of unbelievable on the way up, we kind of get i wont say we get used to it. Complacent. We dont quite notice it as much after the split, was apple up 40 or something remember when we were arguing about tesla at 500 a share . Look where it went eastbound the s p was up almost 60 since march. You get these crazy moves to the upside we should have been able to watch this after all these years and how quickly the corrections can come to get that move and have a correction in three days maybe we need to even revise the terms for how we talk about it given what the nasdaq has done, that perspective it is nothing it is not that shocking if you are a longterm investor, this is no big deal. If you were looking at this. Those six stocks losing a trillion in value, they are still up several trillions you are ....
That is a big headache for the ecb that meets next week. Alix one of the worst performing currencies in march. Scarlet is here to look at those. Scarlet a new trend. Alix that is me. Thelet i was hoping for return of summer. Weakness in the u. S. Dollar is index felle bluebird fiverounding up straight months of losses. When you look at who performed better versus the dollar everyone except brazil. Commodity currencies for the biggest gainers. Down 6. 3 rial is down 6. 3 . A note published today says the dollar moved further than the shifting growth expectations would justify. The positioning to get the dollar down has been extreme, but what triggers a correction is not for castable. The feds leadership was more pressure on the dollar because lower rates for longer continue to pound the dollar. Forever and a day is the phrase i like the best now. The fed is willing to tolerate higher inflation to get fuller, higher employment. As much as we use the dollar index as shorthand for the perf ....
The dollar,ack to so it was not clear what the safe haven was today, and then the vix is lower. Lessinly pricing in a lot risk than we were even a few weeks ago. Murky in terms if the market is hoping for some stimulus to come in. Financials aret your outperformance on the day, probably with that very small uptick. Atlor the senior strategist invesco is still with us. I know you said you favored equities over treasuries, but how does highyield and credit look . I was looking at our highyield barclays index. I thought 500 basis points over treasuries looked at one point, and down further, we migrate. How are you viewing credit at this point . I think we are being incentivized on credit, and i expect we will be incentivized to own credit and i expect we will be for a while. These moves that presage a recession, and that is the time when you need to hold true and by Corporate Bonds and investments that always bemoan the low yields n ....