Welcome to power lunch. Im mischelle caruso cabrera. The s p 500 pretty much flat while the nasdaq composite is in negative territory. A lot of the high flyers, the ones with big dividends, they tend to be getting hit today. Why . Take a look at the tenure. We continue to see Interest Rates riechltz the yield curve is steepening. Thats whats happening with the tenyear note. Its almost 2. 1 . Also catching a lot of comment today is the price of copper. Look at the big move that this has made. This is a twoday chart. We show you this. It suggests people are excited about growth. Tyler. Thank you very much, michelle. Im tyler mathisen. This is my microphone. Heres what else is happening this hour. President obama and president elect donald trump talked. They wrapped it up now talking foreign policy. Video gaming falling in the third quarter. And tesla unveiling the price for its selfdriving feature. It plans to charge buyers of its newest cars 8,000 to activate autonomous driving technolo
How much more short can the market be when it comes to the pound . The risk off trade very much highlighted in sovereign bonds. The 10 year german bund in negative territory for the first time ever. Move, we the flagship all waited for that move down to subzero on the german 10 year. Alix in the u. S. You have treasuries down at 2010 lows but where is that money flowing out of . Russia, spain, italy. Jonathan in crude, softer session again. Alix it has been days when we have seen this risk off trade for commodities. A similar story with copper, 2. 03 a pound. Money is coming out and pouring into those safe haven assets. Jonathan the Brexit Debate dominating the conversation. I want to bring you around the world for indepth coverage. Today it is all about rex it. London, matts in miller in berlin on subzero yields on the german 10 year first ever, and matt boesler on the fed meeting. Guys begin by bringing in johnson and matt miller in london and in berlin. For pauls, three Different Co
One of the biggest deals of the year. Microsoft paying 26 billion dollars plus to purchase linked in. Mark two minutes to the close of trading in europe. Have a look at where equities are trading, every single Industry Group is trading lower on the stoxx 600, down for the fifth consecutive day. Days, 7 hasive been wiped off the value of european equities, the most since february 11. That was when the stoxx 600 fell , 600two and half year low billion euros has been wiped off the valley value. We are down by 8 since april the 20th. It is all about brexit fears and as the fed meets on its day one, the boj, boe, and smb all meet this week. Look at volatility in equities. This is europes fear index, rising for a fifth consecutive day, the longest stretch since march. It has risen by 55 in the past five days. It is below februarys high and augusts high when we had the chinese devaluation. That was the most since 2011. We are also seeing some stress in the currency markets as well. The premiu
You have to be seeing across the board, every single group is falling. Equity market feels the pain. Alex will talk central banking and the markets. We clearly want to be discussing where we are going ahead with our guests. We will be talking with scott mather, coming up in a bit. Fascinating, his viewpoint on when they will hike. And of course how good that job number has to be. Alix overall we are looking at a market rerating for the fed hikes expectations. It comes to equities, the dax lower. You have emerging markets lower over the last two days, and they are trickling through with a story in the fx market that is stronger that is the stronger dollar. Particularly, dollaryen, 1. 02. You have yen weakness, but is that confidence about the boj in rode a in corrode a commodities are getting hit across the board. Off by 1. 3 . Ti, a 47 handle now for wti. Bond marketsthe friday you saw that big rally ofyields on the front end the curve. The biggest jump, 10 basis points, the biggest ju
Headquarters in new york. And anna edwards in london. How was jackson hole taken in the city . Na we are watching how this is playing out in the equity markets. Taken badly by the equity markets. Down. 3 . Down across the european session. I was fascinated with how they had to walk the line by saying, we dont have that many policy tools, but they have enough. Anna . Nextr joining us in the hour. Taylor italy will investigate whether fraud has anything to do with people who died in the earthquake. Contractors that broke building codes. And the country wants to make sure that organized crime does not get involved in the session. G the Authorities Say someone set fire to the crime lab in an in colombia, a permanent ceasefire has taken effect in a conflict that has lasted five decades. They are laying down their arms as part of the peace accord. To approve the agreement. Fighting in colombia has killed an estimated 520,000 people. Singapore has confirmed that residents have the zika virus.