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This as crude is also getting a lift. We were talking about the deal between the opec members cutting back supply. Take a look at the high yield etf, this as the fed says they will support the fallen angel market, those credits downgraded on march 22 from bbb to bb. Take a look at this curve. Yields on the front end falling after thesis points fed said that they would expand their facility program, buying shortterm notes from issuers as they engage in some deficit financing. I want to bring in our next guest. He has been talking about bears in hibernation as the fed is trying to increase that 2. 3 trillion stimulus program. Some of the small and midsized businesses. Some of the jobs numbers this morning. We got reaction from fed chair jay powell. He spoke earlier. Take a listen. We are deploying these lending powers to an unprecedented level, backed by the congress and treasury. We will continue to use these powers forcefully and aggressively until we are confident we are solidly on th ....
Still trying to get the final meetingfrom opec in the that started two hours ago. Those details continue to come through. I want to take a look at the s p 500 on a four day week. It is a shortened holiday week, so the bond markets will be closing in a few hours. It does mean the market is still having some of the best week, going back at one point since 1974. David thank you so much to taylor riggs. As we said, it has been largely a day about the federal reserve. Cioing us is rick rieder, for Global Fixed Income for blackrock and also head of their global Asset Allocation team. Welcome. When i heard this this morning i said my jaw literally dropped. What was your reaction . Rick i am right there with you. This is an incredible amount. It is followed by chair powells presentation afterwards. Not only are they getting into already what they have announced has been incred ....
In the markets, we are seeing equities a little bit softer across the board. S p features down by about 0. 2 . Tech leading the declines lower in europe. Dollar seeing a stronger ish. Been about the reversal of the trends. Will that continue, or is today just a pause in this new shift in paradigm, as you have yields up by about one basis point . Time now for global exchange, where we bring you todays market moving news from all around the world. Soining us now is bloomberg and the karen bloombergs enda curran and michael mckee. An joins us from hong kong. Removed theave quota you need on stocks and bonds to buy in china. It is not necessarily going to be an immediate game changer. This is all about the narrative around china gradually opening up and trying to get the yuan used more globally. At the same time, it is an example of how china is incrementally littering on some of its pledges. Global message to the Financial Markets ....
Todd Jablonski, Global Head of Multi-Asset and Quantitative Investments at Principal Asset Management, explains how US markets are now adjusting rate-cut expectations based on incoming inflation data. ....