Of maniacs who invest in the stock market nasdaq, declined. 22 , you got to remember that rising bond yields like we got today and much of this past week, make investors feel more confident about the economy. When you see the yield in the benchmark moving higher, it makes you feel like we can avoid a recession. Regular viewers know i think the fears about recession are overblown. If anything, we have had a mild slow down. We could reaccelerate if the Federal Reserve keeps its strategy of cutting rates. Why didnt i buy the argument the recession, because their whole thesis was about the bond market itself. Remember the inverted yield curve when long rates went before short rates, they told us that was an infallible sign of slow down. I thought it was a false tale. I told you that. Treasury yields, our rates are so much higher than the rest of the developed world. You had tons of foreign money flooding our bond market pushing prices up and yields down. Now the smoke is cleared, and its f
Welcome. Its good to have you with us we begin in indias Financial Capital mumbai which is recovering from a monsoon which just 21 people large parts of the city of. Looked like this. The result of the 2nd 45 but its not the 1st time the city. In 2005 more than 500 people died in heavy rains and in 2017 at least 10 people died as a result of the monsoon this time around for many it felt like a repeat of those yes. Monsoon chaos in mumbai yet again to ensure rains brought indias Financial Capital to a virtual standstill the she a volume of water too much for the citys drains to cope the overflow turned roads into rivers and this train station into a waterfall. Flooded tracks ground public transport to a halt and left commuters stranded. Weve been waiting here since 7 in the morning. No trains are running because of the flooding. The annual deluge and its dangers are new to locals but many are angry at what theyre calling government inaction. And i think people dont know whether. They ca
And ransacked the Parliament Building in china tells other countries to stay out of its affairs. And the womens Football World Cup Team usa care up for their semifinal against england but are the americans already looking ahead to the final anyone thinks so when the talk is adding to the build up out of the games. Im serious i was going to thank you for joining us germanys defense minister was enough underline is being considered for europes top job European Commission president now the head of the Council Donald Tusk has asked e. U. Leaders to back her for the post theyve been meeting in brussels for the past 3 days to try to reach a consensus on replacing the outgoing Commission President chocolat younger its been one of the longest e. U. Summits ever but leaders say they are confident they will be able to agree. Prevail is in brussels following the latest developments for us hi barbara theres been so many names being thrown around the past 3 days in brussels now were hearing that wa