Flat. R yen now we had seen it move lower throughout the session but were off the lows of the session and is vix is what everyone watching. 45 is how were trading on the vix. Thats like a quadruple from what we saw last week. Modestly higher. I was interested as to why we didnt see gold spike more. To be about equities and commodities kind of taking on the chin. Raises the question whether its fundamentals or technical. Well be die jekting over the next two hours. For the first take, there are three top stories. You have equitys and what is the fed going to do . David . Were joined by Michael Mckee, Bloomberg International correspondent and the reporter bloomberg news. What happened with the dow yesterday . Ill pull up a screen that tells story of two days in one chart here. One on the left is what happened on friday when we had those out about jobs. The one on the right is what happened yesterday. Michael, what does this tell us . Tells us that we saw return Inflation Expectations ear
High. We will get the view from Goldman Sachs. There are record deliveries for airbus. We will speak to the ceos of both companies this morning. Matt remember how inflation scared markets into a massive selloff a couple of weeks ago . Yesterday we got the strongest month over month cpi numbers 12 12 years anders in u. S. Stocks rallied. You saw a spike in treasury yields. Take a look at the 10 year here. You can see just a massive yields. In treasury the yield has gone up, as investors sell the debt. That makes sense if you expect more increases from the federal reserve. The question is, what happened to stocks . Guy i dont think that you or i could even bother to explain. The yen is really strongly bid, so the dollar continues to go down. The strong concerns see currency out of japan does not seem to be bothering the authorities. Kei wask kind nic also trading higher. Is big this morning, gasoline is also. With parsing a bid we are seeing a bid coming through on some of the muscles. W
Session. Year to date, the s p is hanging onto gains as it solidifies its recovery up 1. 5 . Nasdaq remains the laggard this year, declining nearly 3 . It has been a vshaped market this year. The s p 500 in the first six by 10. 5 . He year fell we talked about how rare it is, but then the balance has been a rapid and large as well, 13 as we have seen the recovery now in the past several weeks. On the downside, i was at the s p 500 and analyzed. The company that contributed to the most to clients, we are not quite there yet. I can tell you, coming from apple and amazon, we are contributing the most to the decline in the first few weeks of the year and those are the stocks that of also contributed the most to the recovery as we have come out of it since february 11. These are the bestperforming groups year to date. The Interest Rate sensitive groups have been doing better at as rates have been going down and more defensive groups have been doing better this year. The two groups that are