The university of texas on the pandemic. Of then Michael Morris guggenheim securities. You can only go back in florida. Taking a more circumspect view of whether or not these parts should open. Earnings next week are going to be a big theme as well. A lot of the big tech names are going to be in focus. Lets talk about what is happening broadly in these markets. You mentioned the curve steepeners. The curve is flattening. There is pain in that trade. The u. S. 10year yield has come down. A tight rangein over the last month. S year, we saw the 10 year the range as than 60 basis points to 75 basis points. Equity markets have faded. Im struggling to see where the catalyst is coming from, which catalyst to focus on. How markets are going to progress from here. Lets get help with that question. Yields, theg bond curve flattening out. Equity markets are going nowhere in a hurry. We have a. We have virus. We have elections. Where are you focusing your attention . Thank you for having me. When
Florida. It is about the pandemic. The Market Reaction to that, as Jonathan Ferro mentioned earlier , we have seen remarkable stability in the pricing of the Global Financial system in the last three or four days. Mathematically brilliant, in the last 48 hours we have seen yields in. There is no question all of our conversations, including Mohamed Elerian and jim paulsen have to be about what the bond yield signal. Jonathan it is not a huge move, but it is a break. It has been so sticky for the last several weeks, and we break lower by several basis points. Yield, which real have moved aggressively lower. Treasuries on the one hand, on the other, dollaryen. Morning, 1. 06, they are not huge moves but we are starting to break down in a way that is maybe complementing the Risk Appetite elsewhere. Tom totally on the point of real yields yesterday. I do not think people understand there is the visible yield, and then there is the yield after you adjust for inflation. Business has trouble g
Miami is extraordinary. Francine it is. What we are seeing in the u. K. , ester 10 daysc ago. It seems authorities have a better handling to track and lockdown onng this this city instead of everything. Very different in the u. S. Where cases and deaths are rising and at record highs. Tom amazing to see the acceleration in the death rate in some of these states. For our international audience, it is in america, riveted by this virus. Ritika morning. Coronavirus milestones climbing in the u. S. , new cases climbed over 60,000 in one day for the first time. Florida,lifornia, Record Number of deaths. New york city events requiring permits have been canceled through september. The u. S. Is set to take the next step in a battle with france over taxes on technology giants. The u. S. Will impose tariffs on 700 million in french goods including wine, cheese and handbags. Biden has laid out a plan that will make americas economy better than it was before, he says. To boostdate wants manufacturi
The broader context is that Global Equities are headed for a third month of gains, so a fair amount of optimism priced in in terms of the prospects of a deal. Stock and bond markets were closed for thanksgiving and we trade for a half day today futures are lower in the 10 year yield is is no indication of sentiment. Oil on the back foot today but we are heading to a fourth week of gains ahead of opec plus a survey saying we are not likely to get a deepening of those cuts. Lets get first word news in new york. Breaking impartiality rules, that accusation launched against channel four news after the broadcaster used an Ice Sculpture to replace Boris Johnson. He failed to attend the live Climate Change debates featuring leaders from other parties. Donald made a surprise visit to afghanistan for thanksgiving he met with the president as well as u. S. Troops. He said peace stocks with the taliban have resumed amidst a push for a ceasefire to reduce u. S. Deployment in the region. Taliban wa
Exchange on cnbc. Im wilfred frost. Im Contessa Brewer in for sara eisen lets get to the Market Action yesterday a pretty big selloff we did come off the lows by the end of the day still down just over a percent for the dow. A little less than that for the s p and the nasdaq financials took a big hit that sector within the s p down 3 insurers down more than 3 of course theres another hurricane and storm approaching landfall or makes landfall last night, that was onefactor. We saw the banks selloff almost as much. Yields moving lower. Either way, we are bouncing back a bit today. The dow called higher by 30 points nasdaq by 16 s p bir 4 poiy 4 points the tenyear treasury which saw a significant move lower in yields ended friday 2. 16 yesterday the low was 2. 06 now 2. 075. A large part of that, all of that risk off move yesterday was down to north korean tensions. And the same thing is weighing on asian stocks this morning. Looking at the equities overseas, the nikkei is off by 0. 15 .