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Point 46 overnight. Political posturing is taking place with taking place between london and brussels. Checking in with some of the other little asset of the other asset classes. Gold pulling back in tandem with ,. 10 lower. Tom lets get you the first word news and an update on the continued spread of covid19. Have surged past 40 million and show no signs of slowing. U. S. Infection rates rising in 48 states while europe is inosing tighter restrictions london, paris, and other cities under strict curves with ireland enacting some of the toughest restrictions yet seen. The World Health Organization says failure to control quarantine rules has led to the resurgence. I stocks hit a six month low amid fears continuing street protests will drive investors away and further hurt the weakening economy. The benchmark index closed at its lowest level since april 16 as demonstrators bow to keep up pressure for constitutional refor ....
Big internet companies, that was the worst sector yesterday. Investors bidding those higher into earnings. One note, something that is not different, supporting the idea fundamentally nothing has changed, investors looking past it, we have a lower low on the s p 500. Sharply,ave oil down heading to the worst week since april. Commodities, and wrist asset down in a bait way. David to add one further complicate in fact are, look at the 10 year. We are above 80 basis points again. That is a risk on reaction. How does that fit with commodities . Abigail great question. You have bond selling off. The 10 year yield back in the top part of this years range, suggesting it will make a move for 1 . That will be wrist on because it would mean investors going out of bonds and could also pressure stocks. On the week, bonds are rallying. On the week we have a big haven bid, big haven bid for the dollar. The dow and s p 500 heading for the worst week since march. We also have crude oil down in a big ....
The eu needs to combine aid with reform in a message to the frugal four. Welcome to daybreak europe. What a turnaround we are seeing in chinese equities. We are still looking to eke out a weekly gain. You are seeing some weakness come through on the csi 300 on on the warning signs. Futures, we are set up a little bit negatively there as well. Featuresk 60 fit 50 the 10 year treasury yield slipping as well and oil pulling back as well. It is heading for a weekly loss. The u. S. Has reached another troubling milestone in the coronavirus pandemic as daily cases topped 60,000 for the first time as the World Health Organization says it is keeping an open mind as to whether airborne transmission plays a major role. Good news in labor market data. Jobless claims fell by the most in a month so there is they are still the they are still double the highest level. Joining us now is geoffrey yu. Thank you for joining us. What do yo ....
Surging. Awayee emfx which has come , it is coming off as well with the exception of the taiwanese dollar which is stating stable. ,he one, the renminbi won the renminbi they are off. You see the aussie 10year yield lower to 87 basis points. The chinese 10year yield is a turning point. We have seen a selloff in chinese bonds, this could be the Inflection Point to head lower. And we mentioned the oil price, it seems like the recovery could tolongstanding according the fed. We are seeing oil heading to its first weekly drop in two months. In thea trepidation markets come the s p dropping as much as 6 . Lets get perspective. Mark renfield cranfield joins us. We know lots of money is sloshing around. That could provide support for the markets. Mark i think we will have to get used to the higher volatility. But is one of the things we have been experiencing in the selloff in march. On a daytoday basis we get more big swings either up ....
Ad the u. K. Is to planning custom regime at its border. Michael is expected to rule out extending the brexit transition period today. Welcome to daybreak europe. We saw quite a drop, the stop and 12 weeks in the s p 500, declines of almost 6 . Somehow they are saying it will be normal. You see consolidation, gain in futures following a drop like that. Whats it about jay powell . Was it concerns about a second wave . Or was it because of bullish positioning and sentiment getting a little too stretched . Whatever it was, youre seeing the selloff continue in asia today, about 1 or more in u. S. Futures. The european futures firmly in the red. We saw some Dollar Strength in yesterdays session, which speaks to studying somewhat today, a drop of almost six basis points in the 10 year treasury yield. We move up 2. 5 today, and oil set for his first weekly drop since april, being swept up in those second wave fears. As i was saying, he ....