Debt. Joining us to discuss is a high veteran, Lehmann Livian Fridson Advisors chief Investment Officer martin fridson. I want to talk about this wave of downgrades we have had. Yet, itenomenal, and seems like we have not reached the apex. Do you anticipate more double and triple downgrades . Martin i think we will see that continue for some time. If is such a dramatic change in environment, it is taking a while to get through all the companies, but in addition to aat, some Companies Just had light switch turning off kind of change. Historically, you have some finance companies go down quickly if they lost their ability to borrow, they could sell quickly. Industrial companies historically have taken a long time to make the migration that we observed recently. 1100 basis points around march 23, and then we had a bit of easing. What do you see in terms of levels, spread wise, and default wise . Martin default will clearly rise. Defaults will clearly rise. We think double digits. The high
Markets i treasuries as well. The aussie 10 year yield down 16 basis points and money rush into the end. Oil in a bit of a freefall once again. Brent crude down more than 6. 5 . We areke below 20 and watching indonesia here in particular just coming online. The stock index drops re. 5 . Once again, we are seeing a lot of these em volatilities, back once again. We are watching the pboc after that interesting move to cut the seven day repo rate by 20 basis points so they are joining in on the stimulus ways. Lets get more on this with david ingles coming forward. We are watching u. S. Futures in particular continue to head lower. Lets start with the 7 billion injection into the system. I mean, quite a bit. David yes. A couple of things i guess to get out there. You dont normally see a reduction of this magnitude from the pboc. You also have to consider the fact that we know the economy is not doing well and in fact, the latest forecasts now suggest quarter on quarter, you take the median.
Order. Last hearing of the year here. Theres a lot going on this morning, so i think we will have people popping in and out, but we do have a pretty hard stop at 11 00 this morning. Weve got a series of votes that are beginning at 11 00, and we are going to observe an actual 10 minute clock, we are told. It will be the first time in senate history, but that is the goal this morning. So we want to be able to hear from everyone this morning and have an opportunity for the very, very, very important conversations regarding this issue. We are here to discuss the impact of wildfires on the reliability of our electric rate and efforts to mitigate wildfire risk and increase great grid resiliency. In recent years, devastating wildfires and electricity blackouts in california have drawn National Attention to the challenge of maintaining grid resiliency in the face of extreme conditions. Tragically, we remember last years camp fire, the deadliest and most destructive fire in california history,
Committee on the impact of wildfires on the electric grid. Atmakers are looking wildfire mitigation technology, Forest Management, and power system reliability. Good morning, everyone. The meeting will come to order. A lot going on this morning so i think we will have people popping in and out but we do have a pretty hard stop at 11 00 this morning with a series of votes. We are going to observe an actual 10 minute clock. This is the goal. To be able to hear from everyone this morning and have an opportunity for the very, very, very important conversations regarding this issue. We are here to discuss the impact of wildfires on the reliability of our electric rate and efforts to mitigate wildfire risk and increase grid resiliency. In recent years, devastating wildfires and electricity blackouts in california have drawn National Attention to the challenge of maintaining grid resiliency in the face of extreme conditions. Tragically, we remember last years camp fire, the deadliest and most
Now if we take a look at the impact of wildfires on the u. S. Electric grid, mitigation technology, Forest Management and power system reliability. Good morning everyone. The committee will come to order. Last hearing of the year here. Theres a lot going on this morning so i think we will have people popping in and out but we do have a pretty hard to stop at 11 00 oclock this morning. A series of votes that are beginning at 11 00 a. M. And we are going to observe an actual ten minute clock, we are told. It will be the first time in Senate History but that is the goal. We want to be able to hear from everyone this morning and have an opportunity for the very, very important conversations regarding this issue. We are here to discuss the impact of wildfires on the reliability of our electric grid and efforts to mitigate wildfire risk and increase good resiliency. In recent years devastating wildfires and related electricity blackouts in california have drawn National Attention to the chal