Washingtons partisan battle. Joining us now is bloombergs chief content officer marty schenker. Many people thought this was an inspired choice. It ticks so many boxes. Just your sense of what this means for how washington is now going to operate. Martin i wouldnt describe it as necessarily inspired. It is an inspiring lee safe inspiringly safe choice because she is so wellknown on both sides of the aisle. I think she will have a relatively easy time getting confirmed. She is a traditionalist in many ways. She has been at the fed. Shes been at the white house. Shes a great believer in consensus. I think that is what you are going to need with the incoming treasury secretary. Alix nonetheless, it is the first woman treasury secretary, the first woman to lead the fed. This is definitely in that respect a boulder choice. However, how do the progressives feel about her . Marty i think they are very supportive. There is reporting out there that Elizabeth Warren was the person who recommende
Fromsion off of the news pfizer. Lets just frame where this market is. Ill let lisa worry about bonds. I am looking for an entry point, and i dont have one coming with s p futures out to record highs, up 120. Jonathan lets get straight to the price action of this moment. Equity futures are absolutely surging, up by 3. 3 . It is a huge turnaround. On the 30 year we go about to 88 basis points. A bit of dollar weakness back through this market, just south of 1. 19. A vaccine possibly helping us normalize this global economy. What does that mean . Bti with a 40 handle. Lisa it looks like pfizer will get some of the safety data necessary to see whether they can get some of the emergency approval to roll this out. This is what everyone has been waiting for. I simply, what is the Circuit Breaker to the surge in covid cases we have seen . Could this be yet . The market is saying yes, and the chances of higher growth, very high according to the market trade this morning. We can bring in sams n
That are being organized on facebook and read it buying the stock, bidding it up, causing those institutions to lose money here. Talking to the tune of billions of dollars over the past week or so for the sec, Securities Exchange commission is watching this and a sec regulator told me you might be hard for them to find a violation. Listen. I think when it comes to regulating the speech or regulating content, thats a huge challenge and certainly from a securities regulation perspective. I dont think the sec can regulate speech which everyone has the right to regulate in the sense charging a crime for doing it. What has lawmakers concerned is that robin hood is billed as a free Trading Platform had actually stopped or halted trades on gamestop and some of these others that were shorted which allowed the institutions to make back some of their money in those shorts yesterday. If robin hood said it needed the pause to collect collateral for its clearing house. They raised A Billion Dollars
Vaccine. I love what Greg Valliere published minutes ago, where he says this is a humanitarian crisis, and another word he uses in his terse note is acceleration. Not only acceleration of chases and deaths, but this is about the medical industry and the hospitalizations. Peter hotez scheduled to be with us later this morning. Jonathan in various places around the country, the Health Care System is being overwhelmed. The caseload has gone from about 77,000 at the start of this around 150,000. Silent, anduse is congress isnt looking at a fiscal package right now. They are looking at nominating judy shelton to the Federal Reserve. For this market, the policy focus isnt there. Tom what is interesting is the incongruence of the president and the care he got at walter reed, whereas from sea to shining sea, it is not happening. I cannot convey the strangeness of american media, election, election, election, and below the fold is here is the mass of the pandemic. Jonathan weve got a crisis. In
Nominee joe biden offering more policy, less shouting, kicking the night off with different visions on how to respond to the coronavirus pandemic. Pres. Trump we are learning to live with it. We have no choice. We cant lock ourselves up in a basement like joe does. Mr. Biden he says we are learning to live with it. People are leaning to die with it. You also set a vaccine will be coming within weeks. Is that a guarantee . Pres. Trump no, it is not a guarantee, but it will be by the end of the year. Notbiden anyone who is taking control, who says i take no responsibility, anyone responsible for that many deaths should not remain president of the United States of america. Chiefbloombergs washington correspondent Kevin Cirilli joins us from nashville. What is the rhetoric on the ground . How to the markets need to Pay Attention to it . Kevin first things first, i think it was a shift in tone from President Trump, and that really provided him an opportunity to try to make direct appeal to