Emirates. Angie it is just past noon, welcome to Bloomberg Markets middle east. Today it is a reversal of yesterday. There was a concern about the fallout over italy but when markets will help this morning here in asia, they are just following this global rally, a relief rally, you could say. Yousef it is a relief rally. Some of these moves are simply remarkable. I put up this chart which shows you some of the volatility. This is what you can pull out on your bloomberg, and we have also added what happened with the trunk win in november. Two lines, eurodollar one week implied volatility, the vix. You can see the spike ahead of the announcement of the u. S. Election, then look what happens in the runup to the italian referendum and how it abates. Bloomberg strategists making it clear there is little reason for the implied volatility. The markets want to focus on extension of qe in the eurozone, and the other one will be the decision from the fed. You are looking at later on in the curve
Breaking news from south korea, Industrial Production falling 1. 3 in april it estimates were for 0. 3 . Industrial productions down 2. 8 for the year. More than expected following the 1. 5 percent in april. We will see how that impacts markets at the open. Lets check in on the asiapacific markets. To new zealand we go, climbing 1 5 of 1 higher. 66 u. S. Cents. U. S. Stocks were close on monday for memorial day. We are also counted on to the opening in other asiapacific countries. Australia futures pointing to a flat the Australian Dollar is at . 71 u. S. Japan pointing to a lower open this morning as we see a slightly stronger yen in play. Jobless figures are due out later this hour. Continues to be dominated by the prospect of the u. S. Interest rate hike, which could come as soon as june. Emergingmarket currencies on track for the worst month since august. Gold falling for the ninth straight day, longest losing run in one year. We will have a market moving him, today, stay tuned for
Forecast of 107. 3. The expectations, again, was also better, the consensus was about 104, came in at 106. 3. Euros back up to the best levels of the session against the dollar on the back at 1. 1. 3519. Bund futures also extending losses after that data as well. While we listen in on mr. Draghi, Quick Reaction on that from ricardo. Weve seen germany outpacing the rest of europe. Still continuing. Yes, looks like things are picking up a bit. We saw it yesterday from the pmi as well. Both manufacturing and services. It will be interesting to see if there is their Service Sector survey improved in november. I think it did improve in november. So, we have much better conditions, and that actually supports my own expectation, which is that germany will see a Significant Growth pickup in the next few years. Im forecasting 1. 7 growth from next year, 2. 5 for 2015. Mr. Draghi is making point we have to set Monetary Policy for the full year. And the next two components of that, france, the ec
Plus cisco earnings due out any moment. Jon fortt, eric, mark having instant analysis of the numbers and the expectations call for 51 cents of share on revenue of 12 billion. We want to kick off with bob and todays pullback. Reporter depressingly similar pattern again today, maria. Opening, and markets just move down. More times than not since august, putting up the dow, thats whats happened. Sometime in the midday, sometimes, weve had a rally to move to the upside. But not today. Basically ending not too far from the lows of the day. Has the market lost its bid . Put up the full screen. Higher rates clearly a bit of an issue and clearly a bit of a problem overall. However, i would point out that the u. S. Has seen stock weakness while we have seen strength in europe as well as strength in emerging markets. Look at the Global Markets for the month of august. U. S. Has usually been a leader for the several month, but now is a laggard. Brazil, germany, china, all notably outperforming th
Lends strength. And president obama is pushed to take military action against syria, the u. S. Senate delaying a vote to move to a resolution and polls show public support is fading. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. All right. Warm welcome to you. This is Worldwide Exchange on tuesday. You can see were firmly weighted to the up side. Global equities 9 to nil really, 9 to a half. The stoxx 600 up near session highs, it follows the best day in eight weeks, triple digit gains for the First Time Since august the 1st. The ftse right now down 16 points yesterday. Up. 75 . The cac 40 up about 1. 1 . Ftse mib up, as well. Shares in oil, soaring at the open. 14. 2 after the neste oil came up with better numbers. Peugeot citron opening strongly. The company confirmed its outlook for 2013. On the bond market, take a look at yields. Treasury yields going back to that 3 level. 2. 9455 is where we stand at the moment, clearly, elevated, a