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For more on the European markets let's go to live to London we're joined by bill who barred.
Chief economist for markets dot com.
Good morning bill thanks for being let us we will -- -- did great and was feeling really good and you guys in Europe turn out to be the buzz kill what's going wrong there.
-- -- -- what's going wrong here one of those things you have to look at is we got some fairly negative news -- UK this morning we got French consumer sentiment and an all time historical up and also remember a number of traders he year.
Realize it tomorrow is the revamping of the Russell stock indices in this is traditionally.
A very very volatile they remember.
And of a quarter up next Friday issue a national holiday and then we get nonfarm payrolls so basically the boys -- decided -- May be taken early -- -- And I noticed historic move just a little bit ago European Union finance chiefs of struck an agreement on how to handle failing banks this -- too big to fail thing.
Could that lead to a little bit opposite they say this could -- an investor confidence.
Well -- knew what what did you say about European finance -- it really is it's a question of if it's.
It meeting in Belgium the chiefs three G 78 G-20.
It really is something that's been on the -- for about two years and it.
One -- the key thing is gonna be is this really actually go before the German constitutional government is he quote if it applies to the -- -- so it really was a situation where.
I'm not sure anybody was even watching -- you know where it went Maurice and -- -- -- and we are.
European finance ministers -- and tell us something -- why is it.
It seems like Asia and Europe both are far more focused on what Ben Bernanke and the Fed in the US will do on -- loose money policies.
And they're less focused on what -- gonna do or Europe is this the US still the center of the world that's self.
Well let's back up okay.
The day after mr.
Bernanke and the FOMC meeting -- -- feeling was that the market.
-- collapsed on the Chinese data the same thing.
Thing happened last week -- I did negative data the market misinterpreted misheard or misunderstood and -- -- this from six fed governors remember.
-- green is not tightening so really my feeling here is the market really -- at.
Acted especially in Europe.
To the Chinese.
Numbers rather than what.
The original FOMC meeting from the 22 make in last week's press conference by mr.
Bernanke but it really is a situation now -- -- -- CB repeat that.
Tapering it's not tightening -- -- we saw yesterday for the most recent fed governor lakers' spacing -- we have a couple of more years of sluggish growth.
That may be -- -- a fat in next week's nonfarm payroll.
And we've seen a massive move in the treasury ten year certainly kept bonds a comeback equity and come back remember -- 62.
Billion dollars in money markets.
-- ready to go back into the -- -- -- all right.
As a great job thank you so much for being with us today you're not good -- who -- chief economist at markets dot com.
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