Speaker, he is a certified instructor. When you ask those questions, make sure they have a question mark at the end of them. , please help me welcome him. [applause] good evening. I am thrilled to be here and happy you could join me. I will talk about my current research, a Global Environmental history of the First World War. I am interested in Energy Geopolitics that link the battle lines on the home fronts with agricultural and industry in ways that fundamentally shaped the 20th century. So i will talk about the main battlefield many of us are familiar with, then hop, skip, and jump around the globe to point out areas that had an incredibly profound Environmental Impact. , few human endeavors have altered the Natural World as and as agriculture industry warfare. Together inse came ways that were incredibly destructive. War, theyne mentions think battlefields, and soldiers did change environment on every battlefront. Military planners took the environment into account, considering cli
Petroleum output by nearly. 1. And the imf and the world bank prepare to meet amid the worst downturn since the 1930s. The new reality of economies, collapsing train and mounting unemployment. Shery lets get you started with the markets. U. S. Futures are higher after u. S. Stocks posted the biggest weekly gains since 1974. Nikkei futures higher half a percent as we had a closeout a twoweek high. Take a look at crude. We have the historic opecplus decision, finalizing record cuts of 9. 7 Million Barrels per day, the single largest in history. Wti is gaining ground. Mexico alsoafter joined the conversation and agreed to cut 100,000 barrels per day. We will have more coming up. That is right. After several days of the virtual talks, global diplomacy finally ended in a Historic Deal to cut oil output by nearly. 1 . Destroyed oil prices. President. Great to have you. Can we breathe a sigh of relief . The cuts that have been announced, if there is adherence to those, and we have additional
Seriously when you have such weakened trading volumes. In oil, a choppy session overnight after a big gap down sunday. The direction now depends on when the Global Economy will be able to open up, and that will be the indicator for all of the economic data, as well as risk appetite. Time for todays market moving news from our new york team. We begin with a historic price deal. Plus coming to an agreement to to cut minutes output. ,inutes after the deal was done the Saudi Oil Minister saying that opec is up and alive. With more is in reordering. What do we with more is annmarie hordern. What do we know now . Annmarie they were able to finally clinch this deal, 9. 7 Million Barrels a day. I would say that the main takeaway, goldman put it as historic, but insufficient, given how bad the demand loss is and how bad the supply glut is. These cuts of 9. 7 Million Barrels a day. We should also say that goldman puts it at 4. 3 Million Barrels a day, when you take from First Quarter levels, ass
The actions. Not just high yield indexment many of these outliar assets are showing a little bit of relief i suppose you could say. What does that say to you at ubsf Financial Services . Lisa i think its very important that the fed did what they did. Obviously after easing tremendous amount of of keep Interest Rates low, financial conditions continue to tighten f you dont have access to crede at this time creates a problem. To prevent unnecessary insolvency we think is very important Going Forward. We think the fed action is positive overall, but we dont think this is going to be just a straight shop upward. We do anticipate continued volatility for the less of the year. Lisa if thats the case vonnie if thats the case would you hold your fire or start looking for places to put some of the dry powder to work . Lisa we had come in to this recent fed policy and fiscal stimulus long high heeled. Markets had gotten to the point where they became so bad it quickly, spread quickly and widened
, with the small moves for stocks, it would make sense to look to other clues. Investors look to the volatility index to see whether it is on the rise. Whether these record highs can be sustained. Another volatility index is on the rise. The index in white. Some of them call it a panic index. Year,e in july of last when the s p 500 was carving out new highs, the scio index was high. Skew index was high. Keep this in mind, considering we have the vix low, the skwew s px on the rise after the 500 is at record highs. We have talked about green shoots, and one of the things that backs that up as the resteepening of the yield curve. The spread between 10 year and two year yields rose above 25 basis points for the First Time Since July Caroline july. Inverted fort only a week late in august. There has been a noticeable flattening of the curve. Long head has rallied stronger than the short head. Basis ifpositive by 22 you look at the spreads between two month and five year yields, its a diffe