And subcommittee on Global Competitiveness will come to order. I know this seems a little strac strange with an empty room except for three witnesses live in front of me and many of our colleagues are going to be joining us virtually. But i want to welcome all of you nonetheless to this important hearing. This subcommittee continues to do its work in exploring the unfair trade practices of foreign governments, especially china and russia. The topic of censorship in china is a common one because it is growing effect on business in the United States as well as culture. Last fall, for example, the National Basketball association had the Market Access blocked in china because an individual american citizen using a media platform not allowed in china expressed a political opinion. Now the topics have become more manufactu important. The timely information about the spread of covid19 due to chinese censorship has contributed to the havoc wreaked on our economy and health and indeed the pande
To break trump has yet the stimulus long gem. Softbank backs the virus handed record losses in may at a drop of the value, some may change with earnings later. Lets get a quick check of how the markets are trading. We are seeing u. S. Futures under a little bit of pressure, down 1 10 of 1 . We have President Trumps executive actions on stimulus measures boosting sentiment. That weighed in indices. The s p 500 saw the highest close in sixmonth in the longest winning streak since 2017. Aska futures at the moment japan comes back from mountain day holiday. I mentioned softbank earnings coming back later. The japanese yen Holding Around the weakest in more than two weeks. The bloomberg dollar index unchanged at the moment. This after it touched a oneweek high. Watch out for some data this morning. We are getting south koreas 10 day trade data. We are getting japan numbers, not to mention singapores final gdp numbers. Crude headed towards 42 a barrel after gaining the most in a week after s
Nevertheless, the dollar weakness theme is there. And the german tenyear yield. We are seeing a bid on the bond market. It kind of keeps determining what you want to do next in terms of so many of those asset classes. It is friday. And one of the critical things happening is that sports is back. Being on lockdown without sports was really hard. [laughter] but tonight the english rugby season[laughter] , the premiership restarts. We will talk to the ceo of harlequins. With us if youed have ever seen directly and you want to get a flavor for what it watch this player play rugby and you will get an understanding of just how big a sport it is. Anyway, we will get a sense of where the premiership is going. We will talk to what of the Sports Betting companies. Who we speak to now is david kelly, j. P. Morgan Asset Management. The market has taken a few hits this week. It is trying to. Push higher with equities but failed. What do you make of that . David it is probably too high to start with
The committee will come to order. Thank you all for coming today, i dont think all of you for being here. It is our honor to have the deputy secretary of state here to testify on u. S. Policy regarding peoples republic of china. I originally defaulting back in march, however, our need to focus on the Community Protests from doing that. It is important this committee continue its work on its most committing Foreign Policy challenges, obviously china is one of those. As a complete mistrust correctly recognized, china is a strategic in global competitor of the United States. It would be the greatest Foreign Policy challenge the United States faces in decades to come. Policies of the Chinese Communist party undermine u. S. Interests and values, as we share with partners around the world. Covid19 has brought this challenge the fork front of american life. We now know just how much the Chinese Communist partys decisions and actions directly affect u. S. Citizens, our allies and partners in t
Qualified for tomorrow nights debate thanks to that hole. It will be as first time up on stage with his competitors. He will likely face a lot of accusations is trying to buy the presidency. That was not lost on President Trump who said quote, what many mike is doing is nothing less than a largescale, Illegal Campaign contribution. He is spreading money all over the place, only to have recipients of his cash payments, many former opponents, happily joining or supporting his campaign. Is that called a payoff . Many is illegally buying the democratic nomination. They are taking away from bernie again. Many mike Major Party Nominations are not for sale, good luck in the debate tomorrow night, and remember no standing on boxes. To which bloomberg later replied quote why do you want to run against bernie so badly . Regardless, how will bloomberg performed tomorrow night and will bernie get the most heat now but it looks like the clear front runner . Joining me on this tuesday night party pa