Interesting to see the 2021 look forwards. All we have is good conversation and a look at the tea leaves. Lisa is going to talk about jobless claims and all the rest of it, but i want to look at the granularity. Is a pandemic ago stock, and there is the reality which i believe you mentioned yesterday. I cant remember which property you mentioned it on. You know what . Retail is really struggling. Jonathan this is the story. A stock like macys has done pretty well over the past week, but that is the difference between the ketchup trade the catchup trade and a durable trade. I think that is the story for hours. T couple of we got to get through the next couple of months. Tom i mean, it is a comedy. But this is not funny. In south australia, you can now not walk your dog because of pandemic fears. Talk ofes of the macro the Bloomberg New Economy Forum and the realities that lisa has been talking about here day by day. That gets your attention. Jonathan and initial jobless claims will get
Behind, but what is important is the symbols along the way, and the number one symbol is the most unloved bull market since time began. You do measure the wall of cash on the sideline. How does that feel this dow 30,000 morning . Left out,very lonely, isolated, and i imagine some of it has capitulated. We talked about a tugofwar at the start of this month when we got deposited vaccine news. Overwhelmingly now, this market is looking through the nearterm risks into year end. I had a conversation with someone who suggested we could get a negative payroll sprint negative payrolls print for the next couple of months. It is an outlier call, but deteriorating data is consensus, and here we are running straight through it. Tom maybe it is a biden administration, the fed coming on, stimulus coming on. You keep talking about the russell 2000, up 11 year to date, and it has been a moonshot the last number of weeks. The nasdaq 100 lagging recently, up 34 year to date. 500 up 12. 5 . P for you, we
Were up, and then lifted nicely at the pfizer announcement, 1. 11, up 12. We are near dow 30,000. To me, the clarion idea is that the vix is peeling away the fear , the volatility that is out there come up with a vix at 22. 01. Jonathan wejonathan have been doing that since the election, and the move got a big boost of the pfizer news from last week. The final efficacy rating, and the number is decent. Lisa 95 , better than the initial read last week of 90 . S is the mark on brands this is the more comprehensive data. Of over 65, so preventing illness. An incredibly good display here. The interesting thing to me is that we are not seeing more of a reaction in markets. It is already baked in, and in fact, you are seeing bond yields a little lower on the day. They are just flirting with this idea that longterm, we are not changing the scenario, even with this incredibly good news. Equity futures are elevated on the s p 500. A big move in the equity market. We stayed elevated over the las
Forward today. I think lisa is going to talk about it. The last moment i saw as we wait for washington to awake this morning with the president nudging away from the republican reticence more towards the place of Speaker Pelosi. I have no idea what that means. After what we went through yesterday, we are littered literally we are literally monitoring when does the president wake up and advance his campaign through any actions throughout the day. Jonathan we understand there will be an interview at 8 00 p. M. Eastern on fox news. 1 3negotiations for me, the of the negotiations that really matters and has hardly moved, Senate Republicans and leader mcconnell. Where are they in this . Weve heard from mnuchin, from the president , from Speaker Pelosi. Mcconnell is on the sidelines. Hes the guy that finalizes that deal. Tom this is really important, and it goes to what axios said about the republicans really fighting for their lives, having to do with attorney general barr and all of that.
History in the United Kingdom as they extend the pandemic watch out to march of 2021. Jon ferro, theres no other headline for me this morning. All of us dealing with this pandemic, and Boris Johnson sets us a new timeline. Jonathan jonathan new restrictions on the u. K. Economy being announced today. We will hear from the Prime Minister addressing the nation at 8 00 p. M. Local time. Those restrictions could last a solid six months. Lets get straight to the price action to give people a feel of how things have turned around in the last 30 minutes or so. Equity futures were positive, now slightly negative. In the fx market, the pound was positive. It is now slightly negative. In the bond market, yields were up by almost a basis point. 0. 67 . Y are unchanged at it is a subtle shift, but a reminder of the difficult moment we have ahead of us as we go deeper into the end of the year. Tom so much going on here. We welcome all of you on Bloomberg Television and Bloomberg Radio across americ