From President Trump bnp and santander announce they are amid the payout 100 billion scheme to help the answer is after the sanitary crisis to invest, invest, invest thats what europe is going to do so this european data, not very pretty. Numbers are coming in significantly weaker they are even weaker than the flash estimates. The final composite pmi come in at 29. 7. The flash estimate was 31. 4, the final services pmi 26. 4, the estimate 28. 4. The estimate 28. 4. That is the lowest level for the Financial Services sector since the survey began numbers reinforcing the collapse in the eurozone. Final Business Expectations 33. 5 the flash estimate 34. 8. Just by terms of comparison, the february number on that was 30. 3 where are the green chutes the february survey 51. 2 many of these numbers are now ratcheting these numbers represent survey lows with the lockdown appearing to be set for some time here it does feel there is some optimism first thing on the numbers, these are deviating
Myriad of things, hard to believe that congress is not going to get on and vote down any of those dynamics. But its got to be a series of things. It is not one silver bullet. I think they will do something. On the regulatory front, the banks in this country are in great shape. They have capacity. They have the wherewithal, the capital and liquidity to not exacerbate the problem what they have in past cycles, where they are piling on. I think theres room to continue to deregulate them and allow them support. Isolation is really key, and wiley country like singapore or china can do this effectively, how they can do it in the United States will be absolutely key. Jonathan acid a new discussion. Fascinating discussion. Great to see you. Lets get you some price action in this equity market. 32 minutes into the session, the equity market is down hard by 2. 87 . A wildbond market, just move on the 10 year treasury. That yield coming in at 21 basis points. The 30 year down by 29 basis points.
Sports world coming to a halt while the happiest place on earth closes its gate. 2020 race impacted by coronavirus as well, Campaign Events canceled. Debates with no inhouse audiences, mornings with maria live right now. Maria we want to check overseas marks right now, take a look, mixed story over in europe. Ftse 100 now turned negative, down 421 points, 7 lower on financial times. Cac request rant is up 150 and dax index in germany up 307 points. 3 apiece. We are looking at those losses extend this morning in the uk. In asia overnight it was red across the board certainly in the heels of wall street but markets in asia actually closed off the lows of the session, worst performer was japan, down better than 6 followed by korea. South korea banning short selling for now 6 months, lets check Interest Rates, the yield on the 10year treasury moving up. The yield is up now 10 basis points at level of. 896 on the 10year, Oil Prices Rising this morning after 2 days of decline as the price wa
Up it is march 12, 2020 and Worldwide Exchange begins right now. Announcer this is cnbc breaking news, market selloff good morning, im Courtney Reagan live at the marketsite in times square this morning. Stock futures set to extend the selloff take a look at futures dow jones indicated lower by more than 1,100, s p down 130 and nasdaq more than 82 points testing these limit down numbers where we have a mechanism in place to keep us from falling further. Yesterday, the dow lost 1,400 points to close in bear market territory. Down more than 20 the s p 500 just above bear market levels. If the s p hits 2,709, it will be the fastest drop on record. We are set to hit that level at the open the 10year level trading below 1 at 0. 39 . The 30year at 1. 2 . Oil falling and hovering around 31 down almost 5 it is really not just red in the u. S. , it is red across the board around the world asia and europe is lower you see the nikkei off by more than 1 . Ftse 100 off by 5. 5. And President Trump
Any precipitous policy, at least not at the present time. How much more shock can this market take before theres longterm effects on the economy . What do you think . Look, the market the markets had a shortrun correction, and i guess its 10 or 11 or something. Weve been through this many, many times before. And i dont think even though its frontpage story and nobody likes to see their asset values go down, i just dont think at this point its going to have much of an impact. I will qualify that, depends how long this lasts, how deep it goes, but i could cite a number of historical experiences. The one i remember the most, i was a cub scout way back when, and i remember the 1987 market crash and i remember president reagan going out and saying the economic v economy is fundamentally sound, and it actually grew by 3 or 4 in the next couple years after this crash. President trump said it in this room two nights ago, we just think the economy is sound, and therefore i just dont think this