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Furman, who was across from chair yellen years ago at the councils of economic advisors. It will be fascinating to see what she does in a very different job. The headline is she has to do with congress and the senate. Jonathan and she is conditioned by the experience of the previous cycle, and i think that is really important. This is about avoiding a premature declaration of victory. Chair yellen has lived that, and im sure she wont want to make the same mistake twice. Tom i am really focused on the department of defense after the chaos we have seen over the last number of weeks, so that will be an important announcement as well. The backdrop here is maybe the clearing of uncertainty, and look where the markets are moving. , 3600. N on the s p 500 64 off the is up march bottom. On a long chart, it is actually a very elegant chart with all sorts of good features. You really Wonder Within the debate of those good conversations openi ....
The influencer jon ferro for you on Bloomberg Radio, bloomberg television. Got all of this going on this morning. I want to do the markets to start our simulcast in this hour. We will do the data check as we talk here. Spx up 0. 7 , and once again, the nasdaq less. Is the trend in place . Jonathan the trend is in place, and the small caps outperform. Many people, and the words of jonathan callup, willing to look of Jonathan Golub, willing to look at the forward outlook. Tom we are getting into all of the year ahead looks and all of that parlor game. D a fewwhat ferro di years ago. Forget about it, wait for march. Would you say the consensus right is cyclicals, materials, and small caps . Jonathan overwhelmingly it is the consensus. That is the story. The other consensus story as well is the weaker dollar. Socgen out to 1. 27 on eurodollar, year end 2021. We still havent got ....
Thank you for being with us on this simulcast, Bloomberg Radio, Bloomberg Television worldwide. Tremendous news flow wrapped around the details of a worsening pandemic worldwide, and indeed across this nation. Also looking at markets off the faxing news, futures up 10, dow futures up the vaccine news, futures up 10, dow futures up. New low on the vix as well. Looking at the calendar, everybody is recalibrating. Weve got a major house recalibration of the equity markets out moment ago. Jonathan at Credit Suisse, Jonathan Golub, they have a forecast yearend on the s p for the end of 2021 with a 12 upside. The 2021 forecast is designed to answer what the future will look like in the future. He makes the point at the end of this paragraph that the rotation into th ....
Moment. It is moving markets, but theres a lot of stuff percolating. The Dollar Strength really has my attention. I would go to the news released in the 5 00 hour of the reports that mr. Netanyahu met with the crown prince of saudi arabia. These really havent been vetted out by the israeli or saudi government yet, but i wonder if that helped a little bit as well. Jonathan i dont know about that, tom. News, dollaraccine weakness, can we touch about that a little bit more . The dollar taking out the lows on dxy. Es, we will see how bbdx do and the others. What i would note is the mexican peso. Comes through, hits 20 this morning. That is just one little snapshot of the complexity of e. M. Pairs doing well. Dm,than from e. M. To everything stronger against the u. S. Dollar. Yields up a couple of basis points. Lisa, good morning to you. Supply coming through the week. Lisa we will be getting 190 billion of debt, fiveyear notes. I don ....
The transition process starting to kick in. Tom not only the good news, but just as much as there was no bad news today, and that gives a lift to equities and other adjustments in the market. Jeffrey currie will join us from Goldman Sachs, which is wonderful. Futures up 27 and we will talk about the data in a moment, but yes, chair yellen front and center in this historic moment for our politics. Francine lets get to bloomberg first word news in new york city with ritika gupta. Ritika President Trump is finally calling on his agency to cooperate in the formal transition process with joe biden. That follows weeks of inaction. The General ServicesAdministration Made its official made it official with its acknowledgment that biden was the winner of the election ....