Paying more than 1 billion australian to settle a Money Laundering allegation, the largest corporate find never levied in australia. Tiktok drama turns another page, owner bytedance asking a judge to halt the ban in america, Chinese State media slamming u. S. Dirty trip u. S. 30 tricks. We heard from larry kudlow in the last few minutes, downplaying expectations we will be getting any more fiscal stimulus through the pipeline, larry kudlow saying he doesnt think the u. S. Needs another stimulus package and that they will be doing targeted measures only and need to be smart about this measures. This comes after course of fed officials, including chair powell, saying there is a long way to go for the economic rebound, we heard from several others, all saying there is further need of more fiscal stimulus to do that heavy lifting. And that comes after congress ended its pursuit of a bipartisan spending bill and are now focused on replacing Ruth Bader Ginsburg on the supreme expected thisin
That is a big headache for the ecb that meets next week. Alix one of the worst performing currencies in march. Scarlet is here to look at those. Scarlet a new trend. Alix that is me. Thelet i was hoping for return of summer. Weakness in the u. S. Dollar is index felle bluebird fiverounding up straight months of losses. When you look at who performed better versus the dollar everyone except brazil. Commodity currencies for the biggest gainers. Down 6. 3 rial is down 6. 3 . A note published today says the dollar moved further than the shifting growth expectations would justify. The positioning to get the dollar down has been extreme, but what triggers a correction is not for castable. The feds leadership was more pressure on the dollar because lower rates for longer continue to pound the dollar. Forever and a day is the phrase i like the best now. The fed is willing to tolerate higher inflation to get fuller, higher employment. As much as we use the dollar index as shorthand for the perf
Plus and russia signaled they want to try to cut output to help restore some balance going on at least on the supplyside of things. So crude of course having a pretty good start to the second quarter. I do want to flip up the board and fold it over into some analysis we heard from muhammad el 5 arian between the risks of the high yield market and investment bond market. He said beware of fallen angels. Theres a risk of some of these triple credits being downgraded to junk. One of the biggest risks is it spikes way above the feds tolerance. You buy what the fed is buying but becareful of these fallen angels and we saw just a slew of those in the last week and i think strategists are arguing it really could get a lot worse from here. David . 12340e9 taylor this is Bloomberg Markets balance of power. Earlier we did speak to larry kudlow, the economic counselor director. Lets listen in to what he had o say. Lets listen in to larry kudlow. Lets take a look at some of lets get a check on wha
I do not consider myself a journalist. Nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody take . When you went to cornell, your grades were very good. You apply to law school at harvard. Was the class have women and half men . [laughter] in those days,g i went to law school from 1956 to 1950 nine. In my entering class at Harvard Law School, there were 500 in the class. Nine of us were women. A big jump from martys class. He was a year ahead of me. There were five women in his class. Schoolthe harvard law has about 50 women [applause]. 50 women. [applause] harvardou got onto the law overview. You were near the top of your class. When your husband needed to move to new york, he wanted to transfer to columbia law school. The dean of the Harvard Law School did not think that was a great idea if you wanted to be a harva
Cue ramy on right on cue, the foreign minister put out his response to this that the act out of the United States is an active International Act of terrorism. Were going to get you more details on this story, information thats been for the lastough two or three hours or so. The state of the markets are looking like this. In terms of risk assets, going into the lunch break in hong kong, u. S. Features down 20 points, dollaryen low to the day, still fairly strong on the japanese currency, fly under the asian benchmark, and gold is 15401550. Wards 4 , but still substantial gains. He was features are looking like this u. S. Futures are up my mistake, moving up as london joins wakes up. Good morning to you. Well get to the latest on all of this. Jodi schneider is onset. And we have another reporter joining us. Jodi, im going to start with you, the significance of this act. Jodi very significant. Probably the most tense moment and certainly the biggest escalation in relations since the end o