training is over here on Wall Street for
November the 30th here is the New York
minute met a blast from the past today
Trading dominated by the news that OPEC
is reducing supply that has an effect on
bond yields they've gone up across the
world a much more mixed effect on stock
markets as you can see in the US energy
shares or PC are doing very well indeed
compared to the rest of the market
however customers are of energy such as
for example utilities have suffered
meanwhile if we take a look at inflation
breakevens the implicit forecast for
inflation over the next 10 years drive
from the bond market you can see that
it's now almost got up to two percent
for the first time in more than two
years that makes sense if oil prices are
going to be rising it plainly has
implications for other financial markets
one other fascinating point to note this
is how Goldman Sachs is doing compared
to the rest of the market we heard today
that Steve manush in a Goldman Sachs
alumnus will be the new treasury
secretary plainly many people dislike
Goldman Sachs but as far as the market
is concerned they think it's going to do
very well under president Trump and
that's the New York minute