Perspective to know whether we should use the tool at all, and what magnitude of the tool we should apply. And in another exclusive, paul singer sees a Market Correction of 30 to 40 whenever the downturn comes. I have been expecting it is but theys epiphany, possibility of a significant market downturn. Nejra good morning from london. Lets get a check on the markets. Big day ahead of the g20. We look ahead to the meeting between trump and xi. We dont know what to expect at the moment. We saw gains in u. S. Equities. S p dead flat, but we are heading for the first weekly drop in Global Equities in four weeks, so that is something to note. In june, we have seen Global Equities rise 6 . The bloomberg dollar index is treading water, but it is headed for its biggest monthly decline in more than a year. Switched up the board and take a look at the pulse of risk in some of the other asset classes. Dollaryen, we are seeing the yen bid is a safe haven in, along with gold. While a little weaker.
Listen to the exchange. Sen. Harris i do not believe you are a racist. It was hurtful to hear you talk about the reputational two ors whostates senat built their career on the segregation of race in this country. This campaignhave litigated on who supports civil rights, im happy to do that. David number one, you dont want to be saying im not a racist. Number two, the thing that struck me as i think a lot of democratic voters in the primaries are saying, who can beat President Trump . Joe biden did not come across as someone who can beat donald trump on the debate stage. Alix it is the optics of a split screen like that. It just shows how much the Democratic Party has really changed in the last 30 years. David that was pointed out very explicitly, saying it is time to pass the torch. Alix which they kind of already said it some point before. In the markets, nothing is happening. Wait till sunday, when markets start opening for trading. Maybe a little volatility because the russell rebal
Shame on you second, it was a wild ride the dow finishing up and then finishing lower, all this because of what else, the federal reserve, fed chair Jerome Powell and other officials tempering hopes of a rate cut dow and s p posted their worst days of the month. It was the nasdaq, some of your favorite tech stocks took the brunt of the beating the faang, bit microsoft, alphabet, down 3 facebook off 2 . You get the picture. Guy adami. Yes, sir. Fracas, fracas, what do we make of what the action was today . Is that how sensitive this market is to the fed thats the refor t rhetorica question the fact that we get to 2950 again and again and fail, i think it is problematic. We do it when the vix gets down to 15, pete can speak to that, levels where the last six to eight months the market has topped out i think the market is overestimating the power of the fed. I think unless we get a trade deal, which i dont think were going to get, i think we roll offer at these levels. You just gave a lot
The Chinese Military. There is a workaround to the blacklisting. Malaysias president is not satisfied with goldmans offer to settle the 1mdb case. Goldman sells me a killing on this. The fed stays in the spotlight. Top officials talk to us about rate cuts and policy plans. 50 basis points would be overdone. Its too early to know whether we should use the tool at all. And what magnitude we should apply. Its all straight ahead on bloomberg best. Taylor hello and welcome. I am taylor riggs. This is bloomberg best, your weekly review of the most important Business News analysis and interviews from Bloomberg Television around the world. Lets start with the day by day look at the top headlines. President trump made it clear he was ready to impose additional economic sanctions on iran. On monday, he followed through on that pledge. President trump today imposing sanctions on the Supreme Leader of iran. Telling reporters at the white house, the action would deny the ayatollah access to financi
You are seeing the 10year yield around 2 . We will have plenty more on that and we had now to to the aspen festival and colorado where Michael Mckee is speaking exclusively with Federal Reserve bank of San Francisco president mary daly. Michael thank you. We do welcome mary daly to our live broadcast on Bloomberg Television worldwide from aspen. It is a nice place to be. Indeed. Market has priced more than a100 percent chance of a fed rate cut. Can you ignore that, can you ignore what the market is telling you . The markets are trying to figure out what the reaction function of the fed is and i think on the heels of the press conference, we had a good indication and i agree that we had six weeks of data that looks different than may. We had softer readings on jobstion, i one softer report and headwinds blowing our way. In a look for the next six weeks of data and seeing if that six weeks was transitory or if it really sticks is where i am. I think the markets are trying to figure that