Headline, governor bailey with a negative two year yield. Francine there will be no money for my kid because as soon as i can, i will be spending it on childcare. I asked him whether negative rates was something he would consider. The change in tone between him and his predecessor is stark. Governor carney always saying absolutely not negative rates for this country. Andrew bailey who has been in charge for about two months, kept the door opened, saying probably not now but because of the severity of what we are facing he will not rule anything out. There is a change in tone on what they can and cannot do. Seeinge changes we are from tuesday into this wednesday, chairman powell with adam posen and the Pearson Institute at the Virtual Conference today, that will galvanize global wall street. Jack ablin here with us in a moment. Here is ritika gupta. Ritika we are waiting to see if Jerome Powell gives anything up about what he will do next. He may call for congress to do more to combat t
Licensing requirements. Justin pearson talks about the studies at a Federalist Society event in montgomery, alabama. Theood morning, welcome to montgomery Federalist Society. I am president of the montgomery chapter and associate dean at Faulkner University school of law. Have you hereo today for our topic on occupational licensure. This is a topic that i am very interested in. Occupational licensing law established governmentbacked barriers of entry into based onns and fields the allegations that the general safety and welfare of the community is served and protected by them. The reality is that lobbyists and other connected Interest Groups favor occupational licensing for its anticompetitive effects. In fees and restrictions licensure prevent arch tort vent four return officially providing consumers with better goods and services. Of these laws. Proportionally on minority communities who would benefit regulations ie would go decisive Government Entity expensive Economic Freedom and m
Cautious, they will move out of less liquid risk assets such as oil first. We are seeing it here for the official correction in seven days for oil. As for that ism print and why investors may be so concerned that could be bearish for stocks and they selling stocks are rapidly, take a look at this chart in the bloomberg going back five years. In blue, the s p 500, the eisai manufacturing. We are seeing it as the weakest since 2016. Stocks levitating toward those alltime highs. Not able to move past. Take a look at manufacturing. The lowest level in 10 years. Investors may think there is going to be a meeting between these lines, which could be bearish for stocks. Some investors betting on the idea of 2700. All sectors and most stocks are joining in. Lets take a look at some of the biggest laggards on the day. We will see apple, alphabetic, highquality names being sold off. Also the materials and industrial space. Confirming all of this, and is for haven bonds. For haven bonds. The yenyi
Two other topics. Second, whether or not Mitch Mcconnell will form some type of bipartisan consensus around gun control. Those Mass Shootings over the summer weighing heavily on the minds of lawmakers as they return. Last but not least, they still have to pass spending bills by the end of the month or else we will have a government shutdown. David over the weekend, an extraordinary story about the camp david accords that did not happen. Therese rafael in london. It is a law. Does that mean Boris Johnson cannot leave the eu without an agreement . Therese it means he has to request an extension from the European Union if he cannot get an agreement. There is some question about whether he will find some kind of legal wiggle room on that extension, or whether he would then make it so unattractive to the eu to grant the extension, which needs to be done unanimously by the other 27 members. It is not for certain yet there will be in extension. Law puts a huge roadblock in Boris Johnsons way,
Samestore sales is number of and 0. 5 in the value of those transactions. But they had a really great morning. Alix you told me they didnt blame the weather, right . David very specifically they did not blame the weather. But they are still down a little under 9 in the premarket. They missed on their earnings. They took down their estimates. They are struggling with their professional turnaround at lowes. Alix ive heard that story about lowes and home depot for over 10 years now. It is going to happen at some point. In the markets, you have a little bit of no action here. S p down by about four points. We had retail carnage yesterday, yet markets were still able to climb into the green. It will be interesting to see digest these diverging retail numbers. You are seeing a little bit of buying back into the curve, but again, not a lot of movement. Crude off by 8 10 of 1 . That is sort of idiosyncratic. We get the inventory numbers out today. Mabel that will be good for the come maybe tha