Board, pretty much all morning long. We talked to National Economic counsel director gary cohn first on msnbc and got his take on the numbers and the president s policies. Theres clearly a good februarys part of the numbers. Im not going to deny that. But on the other hand, when you look at what weve been doing here at the white house and all the ceos we brought in, whether it be exxon or sprint or intel, theyve promised an enormous amount of jobs and job creation in the United States. Those hirings have not been done yet. Those are future hirings. Were still living on the hire tgs from the normalized Economic Growth thats built into the system here. Lets bring in michael forruely. Guys, good morning to you both. Michael, walk me through. What carl just said and the degree to which expectations of a proBusiness Environment is feeding the jobs number now. So i think the jobs number now were seeing is probably just a continuation of the general trends in the business cycle. It was a very
Travelers are reacting. We are going to speak to the largest holder of french debt. We ask the head of fixed income for his strategy ahead of the election. Matt we are less than a halfhour away from the european open. Take a look. First off, at futures at the dropoffs in u. S. Markets. We had more than 1 drop in s p 500, actually 1. 25 drop. We had futures down here in europe as well. Take a look at bunds here. I will pull up a twoday chart of burnds. Gains for days of yield so investors buying german debt and it weighing on the yield here. Guy. Guy let us take you around the dmn. The gmm. Yasiel market is down by 1. 56. Japan by 2. 13. The dollar is bouncing back a little bit. In some ways, that is logical. The dollar doesnt feel that criteria so we are seeing that clearly. Look at the aussie dollar, swedish krona. That is the trade you are seeing at the moment. There is a number of interesting things going on here. We are going to discuss why we are seeing this selloff in a little bi
For sara today. Syoure wearing the appropriate color. I thought i would jump right nfrmt. In. Lets see what happened yesterday. Down day for all of the indices. 10 out of 11 sectors were down. Financials down 2. 89 , within that banks down more sharply, the best part of 5 . Very sharp moves to the down side yesterday for banks in particular. There was one positive sector, utilities, it wasnt just positive it was significantly positive up 1. 4 . That was the only sector higher. Some significant profit taking across the board yesterday. There is the s p Financial Sector suffering the biggest daily decline since the brexit fallout day, down 2. 9 . Tenyear treasury note has a lot to do with this. Yields slipped significantly yesterday. Now down 2. 4 . A couple weeks ago near 2. 6 . We had seen a flattening of the yield curve over the prior two weeks, the moves this week have been across the board. Yield s now at 2. 40. We have mick dahave economic ja japan. Exports rising 11 . Imports up 1
In europe things are in the red. The dax and cac are down 0. 6 . The ftse off by 0. 8 . Knitly, sto ly in italy, stocks are down about a percent. Right now the dollar is up against the euro which is trading at 1. 0874. Down against the yen. And crude oil has been weakening even as the dollar had been struggling with issues. Wpi down abo wti down by 1. 43 . Have we shown the tenyear . No. I would show the tenyear. 2. 40. I will do a story in a second talking about fed speak again. Who cares about the fed anymore, theyre irrelevant, not at 2. 40. 2. 40. We were on our way again. We were on our way again theoretically to 2. 60, 2. 70, 3 . What does that say . Does that say 1 gdp number in the First Quarter stays at 1 . None of these things in the trump agenda come on time . Or big as expected . Are they delayed . Does trump care lite mean tax reform light . Or do we even get the taxes . So these ive never been in congress, i never will be. But theres a lot of kabuki dance. I understand th
To 3 1 2 percent market. So its all parts of the business growing towards that Group Operating margin target. When you lay out the targets on, it sounds like work still needs to be done despite a good recovery. This is perhaps some of the concern with Share Holders when it comes to the booker deal. Why are you so convinced this is the right deal and the right price . What i first say is the booker deal is on top of the ambition we set out. 3. 5 to 4 is in the existing plans. Thats what were focused on now. What the booker merger gives us a chance to bring Significant Growth into the business. Involves food, the heart of what we do at tesco. And what well bring with booker merger is a better more competitive offer to customers in the uk. In that sense theres a growth opportunity, delivered food service which together with booker we can really make good Growth Prospect in that part of the market. Yet in this letter coming from schroeder, one of your top shareholders, they outline that te