On bloomberg tv and radio. Typically alongside tom keene and Lisa Abramowicz, im jonathan ferro. Hyde is here this morning. You and i are operating into different time zones. Weve got to work through a brutal here and now on both sides of the landing. The atlantic. Lockdowns are coming to an end on your side of the atlantic, but i wouldnt want to get up early for anyone else. At the moment, i am seeing some Market Action that just speaks to this rotation not having that much longevity this week. Bettern this is much than what tom gives back. Perfect timing. Lets get to the price action this friday morning. We do head towards another week of gains on the s p 500, set to add just a little but of weight to it. Up 0. 25 on the s p. The posture just a little bit more defensive. Small caps underperforming, big tech outperforming. 1. 1920, up about 0. 1 percent. Huge calls coming through on the euro for 22 anyone. Do we have 8 for 2021. Do we have a repeat of what we saw in 2017 . On 15 year
Yellen testimony, this time to Banking Committee. At 11 00, the u. S. Congressional Budget Office will announce the fiscal year 2018 urgent in washington. President trump will hold a joint News Conference with president macron in paris. Jonathan from talk to dove. Hawk to dove. Committeden we are to obtaining our 2 objective and are aware for a number of years we have been running under that and recognize there are dangers that would be associated with persistent undershoots of our inflation objective. It is 2 is not a ceiling, it is a metric objective. The msci old country index and douse it at record highs. The stoxx 600 following the best day in 11 weeks. The bloomberg dollar index falling to the lowest in 10 months and bond yields a grind flour. Joining us in new york is Jeff Rosenberg the chief income. Trategist at blackrock what did we learn yesterday from chair yellen that we didnt know the day before . That the market was expecting her to shift her tone. The bond markets partic
His response. Because of his press coverage, new York Governor Andrew Cuomo, hes expected to meet with donald trump this hour as the New York Times front page today carries the story when new york captures its precoronavirus glory. To cut through the fog of politics, rhetoric and on and off again rivalry thats emerged between the president and the governor of the hardesthit state. Addressing the crisis around testing hopefully once and for all. Theres been a lot of discussion about testing. But i dont know that people have really i think in many ways were talking past each other. I understand the federal governments point that its up to the states and i believe its largely up to the states. But then even the federal government will stand there and do a whole presentation on what theyre doing on testing, lets coordinate who does what. What do the states do . What does the federal government . Ill do whatever im supposed to do. Just tell me what i do and what are you going to do . Were w
Not even close. Some of the ways they thought of are politically radioactive, like eliminating the state and local taxes which functions as double taxation in state, especially the states the higher the taxes, the worst that is. And so theyve got a revolt on their hands. They dont have a solution. Ive been waiting for this. If they went forward on schedule, that would mean theyve got something of a working solution. Yeah. And when you pull stuff i mean, the good news is that the good news for them is they have now learned to pull stuff before they put up their own stuff and it fails, which looks better. But, you know, if nancy pelosi were running this show, the republicans really hated nancy pelosi. But if there was one thing she was good at is getting her ducks in a row before deadline today. As was just about everyone before nancy employees it is. Thats the way it was supposed to work. Thanks, rachel. Donald trump got more bad news, very bad news from Robert Mueller today, the specia
Who broke that news suggests they didnt come up with a way to pay for their tax cut. Not even close. Some of the ways they thought of are politically radioactive, like eliminating the state and local taxes which functions as double taxation in state, especially the states the higher the taxes, the worst that is. And so theyve got a revolt on their hands. They dont have a solution. Ive been waiting for this. If they went forward on schedule, that would mean theyve got something of a working solution. Yeah. And when you pull stuff i mean, the good news is that the good news for them is they have now learned to pull stuff before they put up their own stuff and it fails, which looks better. But, you know, if nancy pelosi were running this show, the republicans really hated nancy pelosi. But if there was one thing she was good at is getting her ducks in a row before deadline today. As was just about everyone y before nancy pelosi for that matter thats the way it was supposed to work. Thanks