Official cash rate being kept on hold, 0. 25 . They are prepared to provide additional stimulus. Just keeping you crossing these additional lines coming through. Monetary policy needs to support the economy for a long time. The economic recovery is on track. The funding may be ready before the end of the year. There is progress being made on additional monetary calls. There has been a rise in unemployment and an increase in firm closures. These lines crossing the terminal now. They kept that cash rate on hold as expected. Just keeping calm and carry on. You mentioned that november review of the Monetary Policy tool. A lot of questions that they will deploy are negative Interest Rates. This is what the market seems to be pricing in. You see that new zealand 10 year yield ever so slightly get into those record those for yields right now at 47 basis points. Lets check the markets to see what else we were expecting. A lot of central bank action. At these newg zealand assets right now. We a
Yesterday, were up the inflation rate as well. They saw exports came in at 13. 3 contraction. The headline number, 16 point 60 contraction. 16 contraction. Tom the question is whether on the fiscal side they will need to do more. The markets. N with a mixed picture in terms of sentiment from investors. You have got some significant southgs in japan and korea. The asiapacific almost back to the prepandemic levels. 169 is what you are looking at. Over on the mainland we have got red on the screen. The shanghai composite is down. Mike pompeo talking about attempts to really divide the internet and the tech space between the u. S. And china. The foreign minister saying he wants to avoid a cold war with the u. S. Got earnings now, looking at those shortly. Seeing gains of. 3 . Looking ahead to jobless claims. The private numbers were a big mess. Jobless numbers later in the u. S. And then the perils friday. Atcan move it on and look the individual stocks. It is earnings season. We have had
Reopening. We will speak with a Lieutenant Governor. She will be joining us. Partner chairman per perspective on the company front. We are getting some data right now. Existing home sales, monthtomonth on month, 9. 7 , that is significantly worse than the market was anticipating. This is the month on month number. The Economist Survey suggested the number could be 5. 6 . Set ofgnificantly worse data coming out of the u. S. Housing market. U. S. Sales coming through at 3. 91 in totality. So, the u. S. Housing market is in a word place. In some ways because of government assistance. We have not seen a collapse in prices. This is transaction. Prices are fairly buoyant. Later on this year, things could get trickier. At the moment, looking at the monthtomonth, that number worse than anticipated. Alix it raises the question, where do people want to live as areas reopen. New york, as we mentioned, and during the second phase. 300,000 more people returning to work today. Outdoor dining, and pe
Europes closed. Apple didnt give a forecast and this white house commentary. I would start with the white house commentary the apple stock, even after you knew that there was no guidance, was up rather dramatically when we got word that the United States was going to retaliate against china, that was it it gave up the ghost and accelerated the decline in amazon we did have the greatest month since 1987 so that january month was augmented by tremendous japanese buying in 87. It was artificial. This was a solid rally off the bottom its time to consolidate theres no we have to get used to consolidation meaning a 400point dow instead of a 100point dow. We went down 34 in 25 sessions, up 35 in 27 sessions what does consolidation mean now . It has to do with the idea that we give up some of this last gain. The last gain was a short squeeze in airlines, in travel, leisure. We started believing in marriott up 10. Then yesterday we had a really strange day where the most important thing that ha
Deal reshaping the storied Investment Bank, Morgan Stanley Ceo James Gorman will join us in the next hour. A mega merger, increases the projection of expenses saved and the guidance which well get into, as well. Giving up control of victorias secret selling a 55 stake to siycamore and stepping down. Well start with the deal of the day. Morgan stanley agreeing to acquire etrade valued at 13 billion. 58. 74 a share three months after schwab and Td Ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their Wealth Management business, jim. It is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. They have a different orientation. They have the easiest site to use. All hand held. Theyre racking up customers i have had robin on a couple times. Theyre the biggest threat