Let that sink in for a moment. 16 just this week were not even done. President trump announcing a travel ban on all nonu. S. Citizens coming in from europe were awaiting details on a stimulus plan or domestic response to ensure containment mitigation and increased testing capabilities right here in the u. S. Were talking to three ceos today. Group one auto, redfin and verizon ceo about how these companies are dealing with the fall out and what the impact of this virus will be on the overall economy. Lets get right to our reporters covering the story for us rick ismonitoring the action i the bond action. We begin with steve on the phone with the latest on this move by the fed. Its been about an hour for markets to digest it people are still trying to figure it all out here it looks like the Federal Reserve is going to do a series of masds ifr operations to put it this way, it will be a trillion dollars a week in the following ways a half a trillion dollars was done at 1 30 today a half
Today but we start with todays turnaround after a weekend of threats and a global selloff that saw markets from asia to european drop, u. S. Stocks prove resilient with all tree indexes finished in the green. So faced with one of the most significant escalations in mideast conflict than weve seen in years, investors are Holding Strong could anything shake this market what do you make of the action. Welcome back courtney and tim has been away. Thank you. It is shocking. At one point the vix was 16. 5 and in an environment where the vix has no business in my opinion below 14 i explain it with beginning of the year inflows in a significant way and the fact that the Federal Reserve keeps pumping in liquidity at record paces. Now north of 400 billion since september. At this pace, by april of this year well have exceeded the alltime high for the Balance Sheet for the Federal Reserve which in my mind is just madness. I think that is the explanation. Now the fact that taib contin s continue f
Street about the stock. Well debate. The Investment Committee is ready to go. Halftime report starts right now. Our Investment Committee at the table today, the Portfolio Manager at eaten vance. We begin where else . The market. Stocks have been ramping in the past 30 minutes, got above the closing high on the s p on a big day for the semis thanks to intel. All but hitting a new record, as well. Names like jp morgan, so many more hitting 52week highs today. We are about a point away from a new high. Is this the beginning of that longawaited ramp that weve been waiting so long for what drove the market was off to a decent start anyway and then the china news. Then the market went to hyperdrive. So if thats the case, if we have a meaningful agreement with china, we really dont know the details, that could, in fact, increase the trading range. So go through it. I thought there was a bias of the upside slightly. Some numbers are good, some are bad. Its very encouraging when you get a print
And the new imf managing director. Warm welcome to bloomberg daybreak europe. Lets get you straight to the markets. 8 companies have been put on a blacklist. Everybody is going, who cares . Deal,obability of a trade make up whatever superlative you wish to choose. The twoyear Government Bond yield i find fascinating, up by six basis points. It was the biggest move in three weeks. Why . If you take Esther Georges comments and Eric Rosengrens mmments, it does not atter what Neel Kashkari thinks about keeping your foot to the floor. He is not voting. Lets roll it over, because betting away risk is personified in dollaryen. Dollaryen, weve got a lovely note from j. P. Morgan. Yes, yen is lighter on its feet this morning. You see the dollar up, yen down. Struggling to get through that 106 level. If you think about the currencies that are essentially ground zero for trade, it is trade wars, i should say, it is aussie on the trade and new Zealands Central Bank has been most forward acting. Le
Time is the audit that prima provides and Northern Trust. Are you familiar with this . Is that Northern Trust and prima has liquidated that they are no longer on their books, if you will . Commissioner, as i was involved in the requisition with northwestern and prima. The discrepancies in securities on books between northern and prima generally related around the securities that were moving in and out of the prima original securitization and whether or not that information was relayed timely to Northern Trust. So, for example, prima would take the exception of home loans and those would be put into a securitization. Also in some cases, prima with consultation with San Francisco would unwind some of their securitizations and prima would have possession of those and there would be delays of those arriving onto the books of the Northern Trust. That was revolved resolved in the last year because that was the work that i did. You balanced Northern Trust numbers. I made sure there were no de