Reported. We will talk about that plus a regulatory story. Significant slump in the price of iron ore. Will traders in london take the same position . Matt we are less than half an hour away from the european open. Take a look at futures. They are down not huge drops that we are seeing a quarter of a percent fall in the euro toxx 5050 euros futures. The futures coming mainly out of italy. Bondinteresting is the trade. Investors are seeking perceived safety of Government Debt in germany. I have a threeday chart. Yields as investors buy up the . Bt down to 0. 187 onemonthk at the view. Investors are looking for haven assets. Guy amazing, considering what we got yesterday, a real catalyst to take treasuries out of their range. We have seen some of the aussie data. It is a very volatile employment series. You have a lot of other factors. The peso continues to be on the move, that has been a standout story and the renminbi rising on what donald trump had to say that the chinese are not curr
Donald trump has become president elect. President elect talks politics with president obama. His transition website gives an indication he intends to stick to his promises on immigration and health care reform. Dow jones adding more than 200 points. Investors start to draw increasingly bright lines between the perceived winners and losers from a trump residency. Tech stocks selloff. The trump slump in the global bond market continues with losses now topping 1 trillion. The emerging markets rout deepens amid concerns about capital outflows. We round off the most dramatic of weeks with our guests in london and new york. Anna marshall from the British Chamber of commerce gives us the business view. Lord Norman Lamont talks about the future of transatlantic relations. And we will keep you uptodate with all the markets as investors find their way in the new environment. Lets get to the bloomberg first word news. Heres sebastian salek. Donaldnstrations against trumps election has continued
And globally. We have been covering the politics and the Market Reaction all morning. We are catching up with the research coming from the banks. Everybody is struggling to work out what is happening. Intot will force denmark intervention. If that is not enough, a rate cut could follow. Denmark might need qe to fight safe haven flows. Simon kennedy was telling us we might the responses from the bank of england, but also global Central Banks. Including some who have been treated as safe havens as of late. Manus the irony is not lost on anybody. Guy will take us through the Market Reactions of the moment. We spoke in japan, suggesting that g7 was ready to open swap lines, if needed. Liquidity will be the key word throughout the day. When you look at some of the market commentators, they are s aying they would not sell if eu markets fall the on 15 . This is about market wit interpretation. Anna lets get to the latest results of the referendum. They started coming in around midnight, u. K.
Welcome. I am in and words. A new record. It took a long slog. The s p is what i am talking about, and not. Two major corrections. The longest stretch. The priceve got is earnings ratio. With trading up 20. Over the past 50 years, we are now above the average. The average over the past 50 and bp basis, around 16. 5. We are trading way above that. S p 500 has cited above its 2007 pecan the last rallies since this was 1946, 13 . That comes down to whether or not you believe the fed is going to hold back. Little like goldilocks. Absolutely. Anna the stimulus bets coming in from other parts of the world sounds a little bit goldilocks. The risk rate on overnight. The topics are in here and that is where the best games are coming from. A Strong Equity picture from japan. They have been saying about fiscal stimulus. 103 spot 06. Currency spending. Fiscal stimulus story crucial. What we have seen in some of the u. K. Political scene. 1. 3066. D, that is what closing the political vacuum tentat
From bloombergs European Headquarters. Lets get to our top story, credit squeeze. Raised capital as a part of its strategy. Francine lacqua is on location. Pressing, a good morning to you. A great interview so far, talking to tj talking to tg tijian. Francine it was quite strategic overall. Clearly focusing on the wealthy in asia. He did say he will unlock value in the swiss bank. Handinhand with costcutting. This is what is getting investments investors worried the most. You have to be efficient no matter what. That [indiscernible] it is a very serious decision. Something we will like to keep. We have pushed for selfhelp. We are rightsizing the Investment Bank. We are cutting by 72 . We are cutting prime. That is good to free up capital, because we are reducing the capital cost. Where cutting cost of 3. 5 billion we are cutting costs, 3. 5 billion. 2. 7 initiatives were launching. What i can say about these not an is they are ambition. Where worked very hard every day for three months