so cme's got many asset classes, right now both bitcoin and ether are good for us.going to work? >> you know, liz, i don't know, you know, how it's going to ultimately pan out. there's been, obviously, a massive push in the automobile industry to go to electric, and we all know that's battery driven for now. so we need the infrastructure around the country to support that. but there's huge demand, all the carmakers are coming up with their own battery-operated or electric cars for lack of a better term. it's continuing to grow, and it's kind of hard to say that that's going to fizzle out too because the people that want to have those type of vehicles, the demand is truly exceeding the supply. liz: i just bought one. i bought a model y tesla. okay, i'm renting it. representing, leasing. [laughter] >> did you? nice. liz: couldn't put out all the money there but love it. >> you forgot who -- ♪ ♪ the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you

how are you addressing it at cme? >> that's a great question, guy. you know, it's really fascinating what's gone on with the retail trader in the last several months i think the retail trader has figured out couple things, first, then they don't want friction and they want access to the marketplace like everybody else gets it so how do you give it to them. in today's world the retail trader is not go away, they'll continue to grow and companies like cme and others will have to continue to look at ways they have access to the marketplace no different than anyone else with little friction so they can participate in the marketplace people want to drive their own cars, fly their own planes, call it what you want but the retail trader is no different they saw a lot what happened with the robinhood scenario where there's no fees and then they found out there's payment over flow and there's been a lot uncovered by the retail trader in the last couple months and i think they'll use that to their benefit to, again, eliminate friction and gain greater access t

when you are shorting futures on cme, you are required to put 40% of the collateral in cash.hat could be expensive. it's easier to do the trades from the other side in many ways, where the future is trading below the spot price, and genesis has been around since 2018. our first borrowers were bitcoin borrowers, and that trade has evolved. the way you think about it is, if the price were to go up quite a bit, you could lose out on a lot of margin. that's one of the major risks, among others. joe: obviously it's a big step for the industry, for a company like coinbase to go public, institutional acceptance. what do we need to see on a market structure, infrastructure basis to close that spread so that it becomes easier to actually do these trades and not face so much risk? >> for sure. there are two major aspects to solving the issues. the first one is physical delivery of futures. right now, a lot of the futures out there are sort of cash tunnels. a one hour average price at the futures window, that introduces some issues with how much size 10 -- trade. the second is the margi

cme both an exchange and a broker, because this is. you buy the coins there. they get all of those assets and, lesley, i'm not saying you are wrong. you are a great reporter but i believe that the institutional number is way north of 10% on coinbase right now. when i read through the s1, that's what i found, was that their coinbase pro and their side that really goes after institutions, scott, is growing by leaps and bounds. then you've got data and all of the rest i mean this one is like taking one of the best brokers on the street and putting it together with an exchange so that they can do all of those things i just mentioned, lending, the interest on margin and all of the rest scott, this thing is a behemoth. about 20% of my assets right now are in a host of digital assets, everything from bitcoin to doge. i love that activity that you get over at coinbase. >> i know you do. as well as the others. >> lesley, let me give you the last word. i want to take a break after that i want to make sure we are back to get the first trade and w

mound their own were banned last year due to coronavirus restrictions the lockdown measures were easy cme office israel's rocky caves of 19 vaccination program has seen more than 50 percent of the population fully vaccinated. police say they've arrested 2 people for disrupting offices efforts to keep order at the site and israeli prime minister benjamin netanyahu has described the stampede as a heavy disaster. sort of hideouts al jazeera. sorry falls it has this update from israel where it's still unclear what caused the disaster. well still the reports are relatively unclear there is no question though that there was an enormous number of people at this very significant religious event last year it was severely curtailed because of coded 1000 restriction so this time there were more than 100000 people there by most estimates some suggesting it was even a greatly higher number than that and certainly the videos bear that out you see people gathered at this new site close to the tomb of a 2nd century rabbi a religious figure revered figure whose death is marked every year in this large bow

educated and unfortunately that has led these communities to the margins of society and experiencing the cme oppression and marginalization as well are terrible history in this piece and we would say with regards to the treatment of other citizens and. to be honest it is largely in my theory it's largely a bite the protocol hire the catalyst for want broke the camel's back so to speak was the and not actionable the story felt and course that this beach the time that wasn't green and orange that was across northern ireland people that obviously not been able to give their loved ones the sendoff that they deserved they watch them die 3 window and or 3 she is trying and workable to give those up one cent of that they deserved and and obviously i'm not sure what the healing of the grieving process is for your viewers but for us here in northern ireland we bring the body home and the following day after person has passed and we spend a period of 3 days and you know what family in france talking about it and that's our hill integrating process but the p.p.s. decision on the back of that was not to

mound their own were banned last year due to coronavirus restrictions the lockdown measures were easy cme office israel's rocky caves with 19 vaccination program has seen more than 50 percent of the population fully vaccinated. police say they've arrested 2 people for disrupting offices efforts to keep order at the site and israeli prime minister benjamin netanyahu has described the stampede as a heavy disaster. sort of hideouts al jazeera there let's talk to how do fossett who's on the scene how he's out of power package there just showing us some of the chaos and fear that there was at the event what's the latest that we know about this. well yes it was a dreadful event as you just saw in those pictures and it's been written on the faces of the people we've been speaking to here as well we had been barred from getting further access than this police checkpoint until just a couple of minutes ago and they've said that we can get further in but all the way up to here we've been seeing stragglers from the events overnight trying to get lifts getting on buses and we are talking talk to a cou

mound their own were banned last year due to coronavirus restrictions the lockdown measures were easy cme after israel's rocky caves of 19 vaccination program has seen more than 50 percent of the population fully vaccinated. police say they've arrested 2 people for disrupting offices efforts to keep aldridge the site and israeli prime minister benjamin netanyahu has described the stampede as a heavy disaster. sort of al-jazeera. all these are a prime minister has visited the site of the stampede to benyamin netanyahu was met by protesting relatives of the victims still so empty bottles and shouted insults he promised an in-depth investigation into the tragedy so now i know not to be of the mountain air and disaster is one of the worst disasters that has befallen the state of israel didn't we mourn the victims our hearts go out to the families and also to the wounded whom we wish for their full recovery there were heartbreaking sights here people crushed to death including children promotions in courts when a mother let the authorities work i must also point out that there was a rapid resc

and i think the c america e announcing -- cme announcing the micro mini bitcoin future on monday that'sstocks that are involved within the blockchain and in the crypto space. and i think there's plenty of room for marathon to go much high higher. it's come down, kind of trades with bitcoin. and if you want to be a participant in bitcoin but are still afraid of the digital currency or cryptocurrency, that would be a spot to go ahead and play that market. liz: yeah. and you also like coinbase. it's up 1% but more importantly, you know, the range has been from about $282-428. we at the moment are at 298. >> you know, liz, i think coin was overpriced when they brought it out. there was so much excitement with the bull markets and with everything going on. coinbase, to me, is going to be very similar to facebook where it opened too high, went all the way down and look at it now. i think coin is going to struggle here a little bit, but i think on a pullback we could see much higher prices. again, the cryptocurrency space is going to be huge. liz: got it. todd horowitz, always great to have yo

the cme can pick up from the volume absolutely >> all right i don't want to steal the thunder from stacynow what she will say she will talk about a store based in minneapolis with a red and white logo that looks a lot like a target. your hometown store. she likes it fundamentally you like it technically. >> stars and moon align on that one, brian a lot of positive changes. i'll leave those to her. i'll take the technical. it looks like this is the stock on any short-term pull back issue buying because they are capitalizing on the internet trends that have done well, but any sort of reopening trends and physical store presence. they are doing well. >> very, very quickly here i know you and your son have crypto you said you were mining bitcoin. >> the trends emerging in the crypto space at light speed if you look at the charts, light coin and a bunch of the other coins are literally breaking out of huge multiyear bases. i think coinbase public yesterday. i don't want to make the same mistake. i didn't buy google or tesla when it first came can i can go through a handful of others it seems

. >>> let's get to the bond market rick is tracking the action at the cme. >> indeed.ortant set of data points today an initial and continuing claims and many expected to be under 700,000 and make progress on both of those. we didn't but what's fascinating, look at a dintraday chart and yields propped up aggressively and a big tell because we are all talking about how rates eased back but we are an important numbers away from it popping right back and anything to do with employment and hiring and firing of course that is in the center lane and if you look at a mid-march chart of 10-year note yields we are staircased lower 161 there to the left, that is the low close to pay attention to for support and when you throw in the dollar index it shouldn't shock anybody that they track close and see the dollar index tracking downwards in a slow melting fashion and finally the banking index kbw, a 20-year chart. won't find a higher close than right now and that's key considering what banks are considered to be undervalued still and the index follows interest rates morgan, back

. >>> to the bond market we go rick santelli is tracking the action at cme. hi, rick >> hi, tyler yields are acting a lot like stocks today, acting a bit heavy. as a matter of fact, as you look at the 24-hour chart, what goes up quite quickly came down preopening in new york, we were hovering around 163. you can see we're now down half a dozen basis points open the chart to three days, and you can really see it's just a failure to hold above what we've been telling viewers has been an important technical point, open the chart up to the all-time low yield close in august, and you can see that we basically have gone up, other than this month. find me another area on that chart where the slope is going down this month is definitely acting different. traders are very cognizant of the fact of what's happening in not only our treasuries, but in bunds. they were just yesterday trading at the best levels since june, and boy, did they reverse quickly. finally dollar index down over 2% just on the month to date and the euro currency is up 2.7% to date. let's go all the

> to the bond market we go and another nobel prize nominee rick santelli tracking the action at the cme. >> we discussed a $659 billion monthly budget deficit and just for the record we started keeping track of those in 1968. this is the third biggest deficit, the other two april and june of this year, of course as you look at a three-year chart, two auctions today, first was the 3-year this chart to august of 2020 you can see the all-time low there. the point is we're flirting with a left on top in a rate we haven't seen in three months 10-year yield. we have a lower high and a higher low and then continue on the same path so probably continue right in the mid to upper 160s and you can see where everybody's pointing to. anything under 161, anything look for follow through. 2-week of the dollar index is important. walking that 92 even level and many technicians say under there is a drop on dollar index values back to you. >>> still ahead, alibaba jumping after a nearly $3 billion anti-monopoly fine from the chinese government why it's good for the stock right after this quick break at f

. >>> let's head to the bond market now rick santelli tracking the action at the cme. the big number is 64.7 the ism headline because as you see on the chart it is the biggest number since 1980, 38 year just that's a long time and the treasury complex didn't really move on it. as a matter of fact the wrong direction. we slipped a bit in claims but not much look at a three day of 10s we really lost it a bit and we lost it from 174 which is the highest close yesterday going back to january of 2020. look at the note over bond spread usually when this narrows there's a momentum change and keep a close eye on long dated treasuries that's the closest 10-year 30-year-olds have been in seven month just go to two-day once it traded above 117.70, yesterday's high it's starting to firm up and looks like it's turning. going to a two-week dollar index, the euro is 57% of the dollar index there's a dollar index for two weeks and yearly see that now we sli slipped under 93 look for follow through. back to you. >> thank you. >>> and coming up next, the under radar winner of the biden

. >> you can watch the entire interview coming up at 7:00 only on cme and you can watch all three daysl draft right here on abc7. the first round kicks off tonight at 5:00 and then join larry beil for toyota after the game. that follows the first round tonight. larry will be joined by derek deis and ted when with analysis . >>> now for your morning money report. the u.s. labor department released the latest weekly unemployment report showing some encouraging signs. 553,000 new claims were filed last week. that is a new low for the second straight week. it is also a decrease of 13,000 from revised numbers the prior week. it is slightly higher than forecasted. there are more than 3.6 million continuing claims, that is 9000 less then revised figures from the previous week. >>> take a live look at the new york stock exchange as treading gets underway this morning. we are up right now by about 140 points. >>> at abc7, we are committed to building a better bay area including the pandemic on the economy. i am very excited for this segment this week because i love bread! [ laughter ] you have

. >>> let's check in with rick santelli at the cme. >> indeed we had the same type of volatility theities had but dancing in place but haven't mo moved down much. keep in mind we haven't settled under 155 in 6 week just it was yesterday's low looks like we challenge it buying why trying to get ahead of it. a lot of selling trying to avoid being trapped at the low yields see what i'm saying. the 11th last time closing under 155 and with bund yields even though yields dropped if you look at the far right today and stream five together it blends in same could be said for the euro currency a one week chart is obviously good support here. it has kind of settled back into a range. under 120. look for the selling pressure and then corn, food. for animals or humans zooming up this particular chart is eight years, the last time of these levels and up in chicago today tyler and kelly, back to you. >> that is shocking. corn's in everything corn syrup is in everything >>> a sign of optimism on the economy. an interesting trend happening is the so-called yolo economy which stands for you only liv

we can celebrate that with rick santelli out at the cme.kelly no, i want to see a picture of tyler in that big hat on monday. i don't know about the rest of the viewers. when you look at a chart that starts around 7:00 a.m. eastern, you can see interest rates started moving lower when right after all the numbers were out. believe me, every number was strong personal income at 21.1% it's the biggest going back to 1946 when numbers started. university of michigan final april numbers, been proved over mid-month. it was a good day today, but nonetheless we saw yields drop at the end of the week look at a week and a half chart. this is important. you can see how it slices the action at 160. if you look at what's going on in bunds, yesterday they hit a 15 1/2 week high and closed quite close to that. what's going on in the uk? rates are going up all over the world. here's a chart and the gilt is closing at 84 where it ended last month but it's at the highs of april and finally euro currency versus the green back euro down, dollar up the dollar is

mound their own were banned last year due to coronavirus restrictions the lockdown measures were easy cme office israel's rapid covert 19 vaccination program has seen more than 50 percent of the population fully vaccinated. police say they've arrested 2 people for disrupting office's efforts to keep order at the site and israeli prime minister benjamin netanyahu has ascribed the stampede as a heavy disaster. sort of height at al-jazeera probably for certain. at the scene in mt but on. a list precipitous pathway is the bottleneck on the way out and one of the main events that was taking place last night it's where thousands upon thousands of people were squeezing their way through trying to get out of the event itself and it seems the focus of the scrutiny is now on as they came down this path where they were confronted by these steps and beyond these metal sheeting again we saw images of police ripping those down to the people who get through this tiny gap and try and save themselves and escape what took place this is a major disaster here for israel for its ultra-orthodox community there

it is great for the chicago board option exchange and the cme, and, of course, all of the brokers.i'm not saying they would be out in front waving flags and saying, let's go for this increase in capital gains tax, but i'm just looking ahead, saying if something like this passed, scott, you got look through to who would benefit, and certainly all of those entities that i named would benefit. now, back to your question about bitcoin, yeah, there's a lot of long-term holders in this one that really got spooked when this report, as you say, not a statement from the president but rather a report of what he's allegedly thinking about doing, when that got out there, yeah, bitcoin broke through several levels, broke through that 52,000 stronghold we thought, broke 50,000 and traded down into the 47,000 range. i bought on this dip i am still a true believer that we go significantly higher in that cryptocurrency and a host of others, but i think prudent folks would know you don't go all in at any level. instead, you just take little nibbles here and there, and i added to my holdings in digit

we have the trust, futures from the cme and all of these other things develops just in the past couplethis is another way. a lot more options for people who don't necessarily want to go out and buy bitcoin directly, they could take advantage of the growth in the industry. haidi: our cross asset team editor. lots more to come next on daybreak asia. this is bloomberg. ♪ haidi: china and south korea are bowing to take action against japan's water plant, bowing that the administration announced it would release radioactive water into the pacific ocean. our asia government reporter has been tracking this in tokyo. tell us about the different not a follow-up about this plan -- the diplomatic fallout about this plan. reporter: what happened now is that japan made this decision after many years of delay, that it was going to dispose of this slightly contaminated water at sea. initially, we so responses from a whole -- we saw a responses from a whole source of countries around the region. china objected, south korea objected. taiwan also objected. we have seen reports that russia is objecting t

the market loves these platform companies, these exchanges i remember when cme became public and it wasing pause you could look at volumes and you could filter right into the earnings model and there was a lot of stability to it and scale paid off so i think all those things, people will see what the trends are in terms of the transaction fees and the margins it also shows you a lot of the activity when we talk about the institutional participation in bitcoin, it's mostly trading, it's playing the futures role, it's the funds against the actual coin. so i don't think it's a matter of buy and hold, it's all on turnover. >> it all depends on where interest in crypto goes too. >> sure. it's also an immature market if you have competitors and can trade it more cheaply, that's going to put some pressure on this middle man. >> there's a little less than two minutes to go on the trading day. you have more on the internals. >> yeah, not too bad it's been most of the day to the positive side. a little less than 2-1 to the upside yesterday a big upside in the indexes but not so great under the su

exchange, including nasdaq or cme. >> when you look backwards, soona, over the last three years, let'ssly coinbase hasn't been listed yet, but were it to have been would you have made more money by investing in the platform over the last three years or in bitcoin itself >> right for investors, what they have historically been looking at are the crypto assets and crypto asset class. but what i'm hoping happens with the successful coinbase listing is that they look beyond the crypto asset class to the infrastructure companies that are being built now that are creating trillions of dollars worth in value they are going to be valued at astronomical figures and are eroding the market share of legacy financial institutions today. >> you've heard the skeptical argument and it's really around not just coinbase but the whole crypto/bitcoin surge and that is we are awash in liquidity and stimulus and that's boosting all assets, including stocks in another environment, this would all feel very differently. how do you respond to that >> well, bitcoin itself was created for this exact reason. we're

. >>> cme and rick santelli for the san tell ri exchange >> good morning. the ipo spac that was so successful, or all the various crypto currencies out there, virtual success takes a bite out of traditional markets. they say there's over 4,000 crypto currencies in existence many of them you never heard of, but many of them you had the total market cap exceeds 2 trillion now, there's issues. whether it's the irs, the treasury, you know, we know that janet yellen brought this up they're inefficient, although you can have bitcoin cash versus bitcoin transactions but there's more to it on the regulatory side. we don't know what's down the road janet yellen hasn't made up her mind and many of the things worried about were pushed in the future if you build a new asset class, they're trade. it's a new asset class and it's getting fuel. this money is coming from somewhere which means there's donors in other parts of the capital structure whose capital is coming in to this and how big will that be well, i know this. that low interest rates, inflation rates, inflatio

. >> all right steve, thank you >>> let's get over to cme and rick for the santelli exchange rick >>welcome a special guest larry lindsey. president and ceo of the lindsey group. a long list of positions in government academia and business >> great to be here with you >> all right we have three topics today fed taxes and debt let's start with the first one we had a two-day fed meeting it didn't result in any change we listened to the press conference lower for longer don't worry about inflation. transient is the favorite word lots of platitudes don't get me wrong the fed stepped up when we needed them. they did a great job dollar swaps, repos, they did a great job, but they stepped in when they needed to. the problem is they never step out when they need to. we need to see signals from the marketplace. your thoughts on the fed >> oh, absolutely. well, i don't think the fed is going to change. i really think they're committed as is the administration to making sure we're at full employment by the end of 2022. and they're not going to do anything to stand in the way of that by the way,

. >> get straight over to steve liesman -- to rick santelli standing by at the cme in chicago. claims under 700,000 and for the second week we're disappointed 744,000 and this follows 719,000 which may get revised in the next few minutes and i'm continuing claims, a week in arrears. we are definitely moving a bit higher, but it's still below 4 million which isn't bad. 3,734,000. it's a bit higher than we were expecting. we were looking for a number in the neighborhood of 3.6 million. in the rear-view mirror, lateral slight decrease. at 3.794 million interest rates are hovering in the mid 160s do keep in mind the high yield close for i believe it was the 31st is 174. so we're 10 basis points below that and it seems that those 10 basis points are quite magical because all of a sudden it seems as though the nasdaq doesn't seem very concerned about interest rates i will stick with the same story. the retracements the amount of giveback on long dated treasuries high quality ones has been very minimal. even though we're down 10 basis points, it's still quite sticky although we're not

rick santelli standing by at the cme. rick, take it away >> thank you, becky.do remember these market caps have changed a lot of the year over year numbers were altered a bit in 2010 i'm awaiting the data. before we get there, i want to point out we're at 167 yield in tens why is that interesting? we closed at a one-week low yesterday. two-week low i take that back at 162. then around 3 in the morning eastern when europe opens we saw yields pop up a little bit, really in a way led by boom yields which dropped 5 basis points from minus 34 to minus 29 i don't see the data points showing up yet let's give them another few seconds. we know this stuff takes a little bit more time in this covid world even if we are in the last few chapters. another issue we'd like to talk about and that is of course what's going on with regard to the competition for the low interest rates many stories about how the hunt for yield is going on out there. in many ways whether it's asset backed as "the wall street journal" talked about the other day or some of the competition with the co

cme listed futures for a couple of years we will see somewhere in eight to ten years people will be abletrade it. we have not had a big selloff during that time we will see how it performss whn other assets decline that is the next big question that needs to be answered. >> it had indications it was c correlated with risk owned assets we will see. you look at gold and people who have been gold bugs for a long time, j.j. names are familiar everything they wanted to get dp gold to $3,000 it all happened. the fed, we have inflation fears, you know, times where we had geopolitical issues that teams like gold should move and it has not that is what people are thinking the interest has moved into bitcoin instead of gold. i don't know gold could come back at a any time inflationary aspects a couple of scary reports. ppi. look at that $1,700 when did it hit $1,700 the first time ten years ago? >> let's face it stocks have been attractive during that time you know, the easy money, et cetera, is being in the stock market and the best place to be. because of that, i also think that some of the dema