Petro currencies not doing so well. Guy . N europe, lets look yeah, at what is happening in europe youat least the dollar is down. Dollar is not continuing to rocket fire as it has been the last few days. We are waiting, as you say, to find out what is happening on capitol hill. We think of what will happen around noon eastern. The vote will happen around in eastern. To session highs before fading again. We have a bit on the euro today, that is good news to the pound has been pummeled. Germany out with a big stimulus package earlier on today. It is going to be issuing more debt. That is the reaction in the bond market. We got a bid on the german bund today, which is good news. Equities and bonds are moving in different directions. They are acting as a bit of a counterweight to each other, which wasnt happening at some point last week. That is the good takeaway today. Vonnie exactly. Purchase of agency, Mortgage Backed securities, it is a new vehicle for this to happen from the Federal
This is 3 declines for each of these markets. Joe, it looked worse overnight well see what happens as we get a little closer to the opening bell youve been watching the treasury. It was lockdown. It was lockdown for quite some time. And it really was about i couldnt help but saying, this is the politicians fault. It was if they had done what they looked like they were going to do as of friday, i dont think it would have been like that but then again, we may have had the, all right, they passed it, were up and then that sells off. In this world, i dont know what to hope for anymore. This is how it works, though. Im going to read something in a second that im so excited about. I even got more excited about this than i did about the futures not being locked down is,000 points. Weet gel well get to that. It was 954 points or something. Yields have come down. The tenyear was down at 0. 829 . Again, that volatility is spreading not only through the stock market but treasuries. Its been amazi
We continue to see a solid bid today for some of the risk havens, we are seeing the german tenyear bid with 38 basis points. If you are equity performances going in one direction, your bond performance is going in the other. Those mainly balancing each other out in a balanced portfolio. Vonnie lets get to the markets. We have the dow down more than 4 . Down 7 since the inauguration and that means it has erased all of its losses since the election. Just one metric. You can also look at how much of the bull market in previous times has been erased so far. It was a 57 erasure in the 1987 crash. We will see where we end up with this particular one. Author lows of the session, dow down 3. 8 . The s p down 3. 8 and the nasdaq down 3. 2 . The dollar index, a little relief, 102. 35. T was below 102 where do we stand in d. C. . Following todays announcement of a massive package of stimulus from the Federal Reserve, joining us is bloombergs anna edgerson. When do we anticipate we will have somet
The nasdaq up 1. 3 , and the vix is at 52. Obviously it is going to be a volatile week. We have the 10 year yield at 61 basis points at the moment. Any number of things moving these markets. Guy i think in many ways, youre right. It is going to be a volatile week. We sibley dont know what is coming down the pike towards us. Is an ok opening. Considering the numbers we had over the weekend, considering what is going on, this is a very undramatic open. It is placid by comparison to what you couldve expected. A couple of exceptions, the. Obviously a couple of exceptions, though. Obviously, what is happening in the crude market is something to be paid attention to. Take a look at the contango in brent crude. It is terrifying. Take a look at btu at bdp yields in italy. There are problems still very much unresolved. Some of those problems exist here in europe. We are waiting to see what is going to happen with corona bonds, etc. , and whether europe is going to stick together. Youve also got
Detention they are playing out within markets. Time now for todays top market moving news from washington and new york. We want to begin in washington, where President Trump extended his National Warning for social distancing in the United States until the end of april, abandoning his easter goal. Pres. Trump we can expect that by june 1, we will be well on our way to recovery. We think by june 1, a lot of great things will be happening. That was aspirational when i said easter. I said it would be great if we could do it by easter. Alix joining me from washington is kevin cirilli. What did we learn in terms of how the government is looking at the lockdown in the u. S. . Kevin President Trump has significantly backed off the claim that he would be able to get life back to normal by easter, now making that marker june 1. Thatresident pushing back timetable to june 1. Over the weekend, talking with sources, i can tell you that the conversation around the next form of economic stimulus wou