Chinese demand levels almost at precrisis level. Time for todays market moving news from our washington and new york teams. We want to start with fed chair jay powells comments on the economy. In an interview with cbs, he expressed confidence in the recovery, but timing is still hard to predict. Chair powell the economy will recover. It may take a while. It could stretch through the end of next year. We really dont know. Michael mckee, International Economics and policy correspondent, has more. Was there anything new on cbs . Michael nothing really new, just summarizing what we already knew from the fed and from economists and disease experts. He suggested that what it is really going to take is a vaccine before people feel really confident and the economy can start to move back in the direction of where it was before all of this started. He said congress and the central bank may need to do more to keep us afloat during that period. Appropriate government policy could buy time for work
Than 60 of soybean exports before this whole trade war began. Futurespy have rebounded from two years of losses. Trade tensions have appeared to thaw a bit. President trumps tweets earlier that he will sign phase one of the trade deal on january 15 may open the door for more american exports to china. Vonnie thank you. That is renita. Thanks for the entire markets team for the bridge throughout 2019. Our guest,us is eddy. And here with us in studio is bloombergs mike regan. We added 5. 9 trillion dollars in value to u. S. Stocks, to the s p 500 in fact. Hard to believe that number even exists. Mich there it is. One of the real Amazing Stories about this year is the everything rally, whether it be oil, gold, havens, treasuries. The treasury etf is up about 9 for the year. 15 for the year. The Bloomberg Barclays aggregate bond index is up 9 for a return for the year. It is rare to see a year like that were basically everything performs. I think part of it is the fact that we have this hi
Trading day. Former dallas fed advisor Danielle Dimartino booth and alan knuchman out in chicago. Quick word on hong kong. That has been developing throughout the morning, night there, then well talk about the markets. Those are violent scenes we have on our screen danielle. This has been going on, going on for six months. I was there at the very beginning of the protest movement. The protesters with the goal to have the extradition bill delayed and taken off the table all together, had some success. But they have continued. The Police Continue to fight back. You wonder how it all ends. What do you think . You do. People should try to recall on per capita basis hong kong has some of the highest income in the world. It also is the conduit. It is the way that china access es the world financial markets. The fact it is in recession cannot be overlooked. This is something that is clearly not dissipating. It is not going away. I think a lot of people thought by now we would have seen this c
Up investors are nervous about whats happening in the bond market is that what this is about i think thats part of it but also the impact on health care from the announcement that we had this morning from mr. Buffett and jamie dimon and amazon is enclosuclearly is havn impact the expectation would be that youd see increased m a in 2018 when youre getting significant selling like youre getting in the managed Health Care Space youre going to see a dow tape clearly under pressure. Steph, the dow was down 350 around there, at the low yesterday sold off into the close. Whats this about . I think it is a little bit about rates but not fundamentals of the economy, its not about earnings because earnings continue to go higher. Its about getting overbought. Were up 7 in january still the best since 1989. However, youre up on top of 19 last year. So weve had a nice rally. We havent had big corrections, we havent had big pullbacks sure, rates are going higher and its something to be mindful of. B
Europe and the u. S. Anne good morning and welcome to bloomberg daybreak europe, our flagship morning show from london. Im anna edwards. Manus im manus cranny. The markets took a bit of a punching last week. Investors must 868 billion, the worst week this year. Put the two together, the Bloomberg Barclays aggregate bond index, and they lost 681 billion, anna. If you look at the losses here, the question is, was it an opportunity . The japanese scooped up u. S. Treasury bonds. They came in size and plenty. We have the bond yields at the bottom of your screen and 10 year Government Bond yields are rising in the u. S. And kuroda is there. Anne the biggest weekly combined lost since the start of this year, a landmark week. Lets put up that risk radar and show you where the equity markets are. The asian session, moving higher. We have decent data out of china. Global stocks are closing closer to alltime highs. Investors should look ahead to the earnings season, not dwell on political issues