But the equity markets are open. We are up by 1. 2 . Earnings season getting up tomorrow with j. P. Morgan, but stimulus talks are not going anywhere. The german tenyear yield, yields are going lower. We are also seeing some pressure caught in periphery. We are getting awful close to a has 100 spread that basis points on it, and that is certainly something we are watching very carefully. We note the comments from mr. Lane over the weekend. The other thing we are noting as well is what is happening with chinese currency. The pboc over the weekend basically putting two way risk back into that currency pair. The question is, will that be marketto stabilize this and keep the pboc happy, or is further action ultimately going to be required . Kailey joining us now is mark mccormick, Td Securities global head of fx strategy. Lets talk about the u. K. First. More restrictions to stop the spread of the virus there. The market doesnt really seem to blink at any of these new additional restrictio
Point to flash so far is that the top this is where they are. Welcome to the 77 percent. This weekend d w. China has invested billions in its bells and Road Initiatives Infrastructure Projects funding dozens of countries across the world take a look at how african nations are trading developments for debt. Also coming up our reporter egypt cannae take the trip on the chinese finance model rocket expressed in kenya is just one example of beijings month of investment in africa. On does a world top 2 economies edged closer to a train to we are quite good at u. S. China truth mean for the rest of the world. This is business africa im paid ferguson welcome 29000 is nearly out an end on one of the stories weve been covering extensively this year is chinas belt underwrote initiative. Its a series of grand Infrastructure Projects intended to connect the Chinese Market with the rest of the world now you can see the extent of it here on the map construction has been underway since 2013 were talk
Banks exchanging billions of dollars every day and overnight lending in order to maintain their reserve ratios now this borrowing isnt free you have to put up collateral usually in the form of treasuries or other tear one securities so under normal circumstances the repo market runs smoothly the rate is steady around 2 percent and the entire system is dependent on trust trust that the borrower can pay you back plus interest its a great way for commercial banks to make money now what happened here was when the rates suddenly spite we dont actually know what happened yet because we havent seen a spike like that since 2008 and in 2008 when the rate suddenly shot up indicating that there was a risk and uncertainty in the market there were rumors going around that your partner banks were insolvent so when you hear Something Like that as a bank thats a huge risk you dont want to lend to an insolvent partner so when you see a risky client you want to charge them 5 percent 10 percent. Tiene pe
Move is the 1st of its kind since its 2008 financial crisis and the scary part is the fed still doesnt know what caused the spike so lets take a step back and really understand what the repo market is its essentially a short term borrowing market where banks and institutions lend to one another banks exchanging billions of dollars every day and overnight lending in order to maintain their reserve ratios now this borrowing isnt free you have to put up collateral usually in the form of treasuries or other tear one securities so under normal circumstances the repo market runs smoothly the rate is steady around 2 percent and the entire system is dependent on trust trust that the borrower can pay you back plus interest its a great way for commercial banks to make money now what happened here was when the rates suddenly spite we dont actually know what happened yet because we havent seen a spike like that since 2008 and in 2008 when the rate suddenly shot up indicating that there was a risk
Joint session for the purpose of receiving the annual message to the legislature from the governor of the state of new york. Ladies and gentlemen, i am proud and honored to present the 57th governor to the state of new york, kathy hochul. [applause] [applause] gov. hochul thank you and good afternoon. Its an honor to be back in this Hallowed Chamber a place since 1879, civicmind new yorkers have wrestled from everything to the great deinteresting to world wars to the every day issues that matter most to the millions of people who call new york our home. Generations are past lead verse shared the so william responsibility of representing their citizens and im honored to be joined by the leaders of today. First, let me thank our Lieutenant Governor Antonio Delgado, hes done an amazing job. So proud to have him at my side i want to thank Senior Pastor for the invocation and i look forward to seeing you perhaps in church. Save me a see state comptrollers, tom denaply, state attorney genera