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In placen, and the fog on fiscal stimulus. It has crept up on us after the dueling debates of last week, but there it is on thursday in nashville, with a mute button. It will be interesting. Jonathan we know this campaign is unhappy, not with the mute button, but with the topics. They want this debate to be about Foreign Policy. I imagine the president wants that to be about Foreign Policy, and he will do his best to make it just about that. Tom he will do that. You wonder if it will be the uproar over the bidens in the out york post article front of our giuliani interview the other day, but help me here, lisa. This is really important. Does Foreign Policy matter in a president ial election . I am not sure it does. Lisa i would argue in this case it does, not so much with russia, but with china. We have seen an increasin ....
But the equity markets are open. We are up by 1. 2 . Earnings season getting up tomorrow with j. P. Morgan, but stimulus talks are not going anywhere. The german tenyear yield, yields are going lower. We are also seeing some pressure caught in periphery. We are getting awful close to a has 100 spread that basis points on it, and that is certainly something we are watching very carefully. We note the comments from mr. Lane over the weekend. The other thing we are noting as well is what is happening with chinese currency. The pboc over the weekend basically putting two way risk back into that currency pair. The question is, will that be marketto stabilize this and keep the pboc happy, or is further action ultimately going to be required . Kailey joining us now is mark mccormick, Td Securities global head of fx strategy. Lets talk about the u. K. First. More restrictions to stop the spread of the virus there. The market doesnt really ....
That is a big headache for the ecb that meets next week. Alix one of the worst performing currencies in march. Scarlet is here to look at those. Scarlet a new trend. Alix that is me. Thelet i was hoping for return of summer. Weakness in the u. S. Dollar is index felle bluebird fiverounding up straight months of losses. When you look at who performed better versus the dollar everyone except brazil. Commodity currencies for the biggest gainers. Down 6. 3 rial is down 6. 3 . A note published today says the dollar moved further than the shifting growth expectations would justify. The positioning to get the dollar down has been extreme, but what triggers a correction is not for castable. The feds leadership was more pressure on the dollar because lower rates for longer continue to pound the dollar. Forever and a day is the phrase i like the best now. The fed is willing to tolerate higher inflation to get fuller, higher employment. As much as we use the dollar index as shorthand for the perf ....