The dollar,ack to so it was not clear what the safe haven was today, and then the vix is lower. Lessinly pricing in a lot risk than we were even a few weeks ago. Murky in terms if the market is hoping for some stimulus to come in. Financials aret your outperformance on the day, probably with that very small uptick. Atlor the senior strategist invesco is still with us. I know you said you favored equities over treasuries, but how does highyield and credit look . I was looking at our highyield barclays index. I thought 500 basis points over treasuries looked at one point, and down further, we migrate. How are you viewing credit at this point . I think we are being incentivized on credit, and i expect we will be incentivized to own credit and i expect we will be for a while. These moves that presage a recession, and that is the time when you need to hold true and by Corporate Bonds and investments that always bemoan the low yields never seem to want to do so. You get the policy response i
Euroyen shows you the dynamic away from the dollar, translated. It is all about the weaker dollar across the board when i look in yields, i really look at the inflationadjusted yield as a 0. 92. 2012. Reaches the jonathan 2 trillion and 99 days. A 2 trillion spread between democrats and republicans, and 99 days until the election. You have to believe the president steps forward and says it needs to be bigger. Tom no question about it. The president just reads the riot act to his republicans about losing the house, losing the senate, losing the presidency, and getting out. I dont think it is 1. 5 trillion where we are heading with mr. Trump. What i would focus on in a week of Technology Earnings is that equities are so resilient here compared to what else you and i see on the bloomberg terminal. Jonathan a massive week ahead. Lets get to the morning brief. A fed decision coming up later this week. Tech earnings in the mix. Latere get u. S. Gdp data in the week. Heres the price action to
Record death tolls. Florida, texas, South Carolina have flipped roles with new york which back in march was the covid capital of the world. One of the new york stars of the netflix dockuseries pandemic is here. Hes responsible for the Pandemic Response for all of new york citys hospitals. She will tell us what lessons she learned during the darkest moments and how overwhelmed hospitals in the new hot spots can gain control. Speaking of netflix, the streaming media leader Tiger King Crown a bit dented while shares are up off session lows. Its guidance disappointed investors. What does the first of the fangs to report in the covid quarter portend for Big Tech Companies that are supposed to report next week . Tesla and microsoft among them. Famed tech analyst dan ives knows both of those names implicitly. Hes calculating the numbers and hes here live to tip you off ahead of the big reveal. Plus, the famed sportswriter who is now saying me too as the Washington Redskins deal with revelatio
8 00 p. M. Eastern on the communicators on cspan2. President trump spoke in the oval office about another possible coronavirus aid package for the present was joined by Vice President mike pence, treasury secretary steven the newton and were publican leaders Mitch Mcconnell and kevin mccarthy. Thank you very much. You have asked to see what is going on at our meetings and i figured to let you come in and you will look and see that we have a lot of good things happening. We have tremendous progress on vaccines and therapeutics we are getting reports and studying the reports very closely. I think people will be pleasantly surprised with what is going on the vaccine front and the therapeutic front. That is always the first topic. Secondarily, but very importantly, we are working and negotiating with the democrats on trying to get a plan that helps Small Businesses and helps people and helps this country and i think we have made a lot of progress on that in the discussions are going on. St
Investors are increasingly pinning their hopes to a virus recovery on the vaccine so modernas news is helping the market this monday morning. And its own stock, of course. The dow industrials, probably going to go up a few points, maybe 70. S p up about 12. The nasdaq, up 85 points. Green this monday morning. Next headline, gold. The price is now at an alltime high, closing in on 2,000 an ounce. A weak dollar plus the fear of a postvirus bout of inflation, plus the u. S. china escalation, all pushing the price to, what, 1956 per ounce as of right now. Were expecting the republicans to detail their trillion dollar stimulus plan perhaps today. 1200 checks, Liability Protection for business extended but reduced emergency unemployment bonuses. Larry kudlow on that later on todays program right here. Now, look at big tech. Top executives from four of them virtually testify to Congress Later this week. This is important. What are we going to do with the crown jewels of americas business . Ta