More than 25 billion come hedge funds last month. The biggest month redemption monthly reduction since 2009. Caroline we have cautious trading ahead of jackson hole. Federal reserve chair speaking tomorrow. Futures down 20 if youre looking at the euro stoxx 50 at. 2 moment futures down if youre looking at the euro stoxx 50 at the moment. I know youre good to be checking other assets. Manus into the calm before the storm. That is a part of the debate will have today. Repressed volatility. Is it qe at work echo stocks in the u. S. Lowest since 1994. Bloomberg dollar index at the top of your screen, up. 4 . We are shifting into they five of the dollar bid zone on that. Underneath that you got crude oil up. 25 . He had stockpiles again. U. S. Suppliers up by 2. 5 million barrels. Greenfield ceo says short crude at these levels, 50. Is it a moment of recovery or more pain echo pain . Growth will be close to zero this year. Olitics is the dominant theme i am or has a sword into 2014 at we ha
Also gives us an impact on what germany is doing. Germany with worse than expected data out this morning. Taylor philippines president the whitete house canceled a meeting after an expletive filled tirade at the u. S. President. Theonday duterte warned u. S. Against interfering in his war on drugs. He regrets that it came across as a personal attack. David davis told lawmakers there is no turning back and at the end of the process britain will be out of the european union. There will be no attempt to stay in the you desk in the eu by the back door. No attempt to engineer a second referendum. Because some people did not like the first answer. Taylor several parliamentary committees will investigate. Arious aspects of brexit in afghanistan the taliban staged a deadly attack that killed at least 24 people. 90 were wounded. The taliban and had been gaining ground and increasing ground in territory across afghanistan. Results from the election in china isow warning that anys theres any supp
Thatears on speculation aeig yellen will strike hawkish tone at jackson hole. Carolyn we have had north korea testing a missile. We are seeing downward trends in terms of the futures markets. This is where we look for the open. Down. Manus i thought we would start the day wrapping up some of these themes. Global volatility. What will janet yellen do . What will janet yellen promise this market or tell them she is intent on doing . This is when she said she would rate increase, 2015. Fx volatility. Lets have a look at the risk radar. Oilare seeing movement on and copper. Let me take you through the risk radar. Dollar index, top of the four. Traders see a 28 probability or chance of a fed hike. A shift higher in fx volatility. The korean currency in cap slates. What carolyn has been saying to you. Injected money into the system. This is trying to stop the overnight buying. Oil and copper. , copperot stockpiles trading at its lowest level. Stockpiles ratcheting higher, the highest level s
Will be for a breakout. We are talking about friday. Alix how the project on the downside when the defensive stock is already that defensive . Were going to discuss oils bl ull market with ed morris. He is bring his new call on oil. Yes, we have a little bit of strength in europe. Here futures are stronger but again, lack of conviction. Jonathan stocks go nowhere. Put that in a headline. That is the story with the ftse softer. The s pby 2 points on 500. No big moves. Eurodollar, one word, stable around 1. 12. Dollar oscillating throughout the last 24 hours. The dollar index was up for a fourth day. Then we rolled over. Been a choppy few hours of trading. If you look commodity markets, there is a theme. The pullback continues on crude. It resumes down by 1. 7 . Copper getting interesting, racing the gains for 2016 so far. We have the import data out of china on copper. Injectingows, uncertainty into commodities. Yields, the focus throughout this week, fiveyear yields. Were up a basis po
Pairing of the losses which, not that long ago, were lower than 1 . We did get the weekly crude inventories report. Distillate, hope that there will be a future drawdown in crude as well. We saw Oil Prices Move lower after that. Ago and ahile little while ago, moving to unchanged. The other Market Movement of the day has to do with the British Ground british pound. It is moving lower compared to the u. S. Dollar. Volatility surrounding a possible u. K. Exit from the euro. If you take a look at the history and look at the range of the pound in previous times of 2008,ng crisis, 1982 and that is what some traders are looking at as guidance for what could potentially happen this time. Alix lets check in on the bloomberg first word news. Mark Chris Collins of new york and Duncan Hunter of california are now on board. Hunter says we dont need a policy hawk as president. We need a leader. Democratic frontrunner Hillary Clinton hopes to advance or leave on senator Bernie Sanders end. Mrs. On s