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Rally. The bond market yesterday saying a bit of buying come back, but not much for printing. 71 basis on the 10 year right now. Action pivots over what is happening in the United States. We get to the Michigan Consumer center. A little stronger than economists seemed to have protected. 74. 1, up from 72. 8 last time around. 72. 8 was what the economists were predicting as well. Current conditions, 82. 9. That is slightly ahead of expectation which are at 60. 5. The expectations number is actually where we are seeing the strain. Lets turn to our big story of the day, we have seen that apart from the japanese Prime Minister shinzo abe, the countrys longest serving premier will be undergoing treatment for chronic illness. He spoke earlier today. Respond to ready to the mandate by the public. I made a judgment i should no ....
The idea that they can delay decisions into september, i just dont get that when i observe what i observe on the streets of new york. Jonathan lets observe the price action. We know why theres no urgency. Compare and contrast to where we were back in march. D. C. Is on the road to nowhere. They have been for the last several weeks. Tom there are two americas out there. Good morning, john edwards of louisiana. What we see is the complacency of the politicians that they have time. I dont understand where that complacency came from. Jonathan lets get to the economic data. Cpi coming out later this week. Retail sales, that is how we conclude the week on friday morning. In the price action this monday morning, equities, the calm in the equity market. We are up five points on the s p 500. We advance a little more than your. 1 more than 0. 1 . Treasuries under the hypnosis of fed chair jay powell. Tenure goes nowhere. Wedbush out this morning, upgrading his price target on apple to 515. We ar ....
Unemployment rate over 10 , and that is nothing like what we see this morning. The mystery of what we see with this is absolutely extraordinary. Weve got the voices lined up to talk about it. The market standpoint, economic standpoint. What is missing, maybe we will get that from mr. Kudlow later, what is the view of washington on the American Labor economy . Jonathan and will the view change with jobs numbers falling apart . I never thought i would sit here and say it could be positive one million, could be one million. Quite simply, no one knows million. Negative one quite simply, nobody knows. Tom Bernie Sanders of vermont talking about the inequalities out there. This jobs report will show the start discerns between the stark difference between the haves and havenots. Lisa that has really been the hallmark of the crisis that has ensued. Theres a question of looking at the ....
Middle of may. The key question is why should Americans Care about it because it will rebound right back if it fails this weekend. Jonathan what is failure this weekend . What is success . Will they kick the can european style, or will we see progress . Lisa theres less than a 50 chance there will be a deal agreed upon, something we are watching. 8 30 am, u. S. Housing starts and building permits. Got Mortgage Rates under 3 at record lows. P. M. , former fed chair janet yellen and ben bernanke testifying before congress, signing a letter alongside 28 other economists urging more fiscal support, piggybacking on what a lot of people are saying. Tomorrow, that meeting in brussels wraps up. It is believed to be the biggest meeting of World Leaders since the pandemic started. They are taking measures such as opening bathroom d ....
Report, and the jobs data tomorrow. Without a doubt, to of the greatest mysteries we have seen since february. We cant emphasize enough the imports of this claims data. Jonathan we really hope we see an improvement after things went the other way last week. Later tomorrow, we get the payrolls report. Unpredictable. That is the word you would here again and again. Tom lisa, i am going to go back to your bond work for years. Theres a point always where you switch from yield dynamics and analysis to a price study, and it really is beginning to feel to me right now that all the media and the experts in the pundits are beginning to look at price, not yield of bonds. Lisa i think you underscored one of the most important questions in the bond market this week when you asked, is it the real economy driving yields solo or is it the Federal Reserve . I think that is a key question Going F ....