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Joe, its these mnuchin headlines getting something done in terms of stimulus by the election, he says, is tough. That caused a bit more of a selloff in stocks and it underscores why the nasdaq continues to have a bit under it yes, it does clearly and youre also seeing a little bit of a fallback in yield, scott. The tenyear is pushing back towards 70 basis points, somewhat troubling, i would think the market needs a little bit of some of the Forward Momentum that its been carrying in the last week or so to really cool off a little. I think we were getting a little too vertical in the way we were appreciating so the negative news that youre getting on the stimulus aligns with maybe a much needed little bit of pause in that rate of appreciation im not overly concerned by it. Yeah, rates are falling you see it there 71 basis points is where we are on the tenyear, an issue to deal with, tiffany, or perhaps the message in the fall. Ev ....
News on the banks. We were discussing on closing bell the banks finding out this evening what this extra stress tests theyll go through this fall will be there will be two severe recessions it will be tested against as opposed to normally one. Its possible we could interpret those severe recessions as not as bad as they could have been june saw unemployment spiking to 10 . This test has two versions one is that it spikes to 12. 5 and then dips more quickly to 7 7. 5 both of those factors perhaps highlight the severely adverse scenario didnt get that much worse given the year that were in than perhaps it could have got. 10 unemployment to 11 or 12 is not that much worse. That will also include a stock market decline by 30 house prices falling 26 all of course headlinegrabbing changes but not that much worse than they could have been given the fact that we already knew this early set of tests was coming there is one line that stands out at the end of the statement that says, the board re ....
Alone welcome to the show im Stephen Beardsley in berlin its good to have you with us times are already tough in lebanon food prices were rising Power Outages becoming more frequent and coronavirus case numbers climbing now the need to rebuild the countrys largest port following explosion on tuesday threatens to expose just how threadbare the countrys economy really is. A city in ruins. Its gateway to the Global Economy destroyed. Lebanon is scrambling to pick up the pieces of this weeks explosion. But long before the blast levanon to qana mewe was then a death spiral. Rampant inflation in an increasingly worthless currency plunging many lebanese into poverty hunger and despair. All now are sure to get worse. More than 250000 people have lost their homes in beirut. And countless businesses have been destroyed. And we c ....
Lens clearance theres an abundance of flammable material once again i did some stuff. And some moves going up in some. Little consideration the world on fire starts aug 12th on g. W. The lebanese economy is in freefall now the countrys largest port is out of commission and the entire city quarter needs rebuilding the economic consequences of monday rather tuesdays explosion in beirut. Grounded and pounded financially with tons of hours to cut costs and employees as it posted big 2nd quarter loss. Welcome to the show im Stephen Beardsley ember lead its good to have you with us tom. Were already tough in lebanon on food prices rising Power Outages becoming more frequent and coronavirus case numbers climbing now the need to rebuild the countrys largest port following an explosion on tuesday threatens to expose just how threadbare the countrys economy really is. A city in ruins ....
600 gaining. A lot of the focus is on earnings and the economic backdrop. 1134. Ollar 1 it has fluctuated but is very arrangedbound. Rangebound. Coming up, the World Economic forum in davos. We bring you all the biggest names in banking. Lets get straight to first word news in new york city. We begin with the new york senate approving Donald Trumps new freetrade agreement with mexico and canada. It handles the president and a major win ahead of impeachment. The overhaul of the agreement was a priority for mr. Trump. Mitch mcconnell called vote a rare moment of bipartisan cooperation. The white house broke the law in withholding aid the ukraine. Accordingting to an independent watchdog, saying the president should not have delayed money. This is a key part of the impeachment case against President Trump. , quoteg with the ....