You might say better late than never. Adam that is exactly what i would say. Better late than never but also powell and Richard Clara for the process. There is a reality going back to well before the Global Financial crisis that the phillips curve has been flat. This is a fancy way of saying you can have deviations in inflation deviations in employment to the upside and you do not get that much inflation for it. Then you combine that with the reality we have seen in japan for a long time and in the u. S. And europe for the last 12 to 15 years that when youre too close to zero on your Interest Rate balance, you cannot react as well as you should to policy and adjust policy. Fomc powell and the they unanimously adopted the statement before he spoke what jay powell and the fomc are saying is they are catching up with reality. And jay powell was framing this as we have to be realistic and pragmatic. This is how the economy has changed in our process must reflect the way the economy has cha
More than 2 on the stoxx 600 great s p futures point to another day of decline in the u. S. On track for six days of declines and heading for lowest close since october and global stocks for the 10 year yield hitting a fresh record low. Yields are dropping across the u. S. Curve. The two year yield sitting around 112. To the euro missed the risk off memo . Three out of the past four days. 10947. It could be down to the broad dollar weakness. The yen has been big today along with gold. Saying we could get 1800 on gold. Wti extending its slide beyond a 13 month low. Lets get the bloomberg first word news. We begin with italian Opposition Leader Matteo Salvini who accuses the government of underestimating the threat of coronavirus. He is urging them to earmark at least 10 billion euros for emergency measures. I think it will be the composed of factions the dont like each other. Its already the weakest in terms of growth. After the virus, which will evidently slide us into a recession, a g
Consider the circumstances where the dow dropped and nasdaq is down. 04 and think about it were on the verge of escalation on the raid war and our countries is divided like no time since the civil war and the yearnings are barely expected to be up and two contenders for the democratic nominees have problem with big business and the market is still in bull market mode and it keeps climbing. First, you got to remember a year ago things seemed incredibly bleak the Federal Reserve decided to hit us with a series of rate hikes right when the economy started experiencing turbulence and it got obliterated you could see that there for most of 2019 we were rolling back to 18 losses. S p 500 got blasted from 2937, that was last october, down to 2346 at the lowest last december, pretty soon were going to annualize that when the fed got a clue and changed course, it came back like a coiled spring which is why it is now at 3135. Boom fed gets religion, boom like that of course i dont want to blame
Fod hersecio. Rtunately, morer ad ever even makes it to the bay without being treated. Reporter the president has crossed socalled enemy lines before. First as a candidate in16 naming oakland among the most dangerous cities in the world even though st. Louis, baltimore, detroit, and new orleans all had higher homicide rates. Then in march 2018 he called oakland mayor libby schaaf a disgrace for warning undocumented immigrants about possible i. C. E. Arrests. To me thats obstruction of justice. Reporter and in january of this year mr. Trump lashed out at Speaker Nancy Pelosi tweeting, clean up the streets in San Francisco. They are disgusting. City leaders have always acknowledged the homeless situation is one of the citys most challenging problems. Needles and human waste have tarnished the citys imag worker ees,nchange. Has it gotten worse . Better . More . Less . Less. Less than before. Reporter it appears he may be right. Numbers from the Health Department show that in 2018 more tha
Dropping below the s p 500 dividend yield which is crazy. You can make more money on the yield on the s p 500 than on the 30 year. Unfortunately the algorithms are utilizing global yields as the correlation to equities and that seems to happen from time to time. Remember prior to that it was the chinese currency any time that traded above a 7 Point Equities move lower. So youre looking at global yields and youre basically understanding that protectionism doesnt exist in global asset pricing. What do you mean . Thats exactly what is going on right now so the United States is blessed with technology. The United States is blessed with low energy. Zero versus the rest of the world. Correct but why is that becky . Because we are seen as the best economy globally and thats where i see protectionism doesnt exist in asset pricing the rest of the world is just driving capital here. So you can see bond yields coming down precipitously but still see it being something that doesnt drag the stock m