That would be a game changer. Bitcoins market cap is currently only 3. 1 the size of gold. As bitcoin and gold struggle between the risk off, is gone, copper is not hitting a sevenyear high. It looks a lot like that spike we see in early 2000 at the beginning of that chart, that is when china started commodities super cycles. Maybe there is some more longterm fundamental support from china. Lets get into the ring with todays top story. Opecplus agreeing to increase output starting in january, with monthly reviews to cf if more oil should be added. Alex longley joins us from london. What are the rules for the subsequent production hike . Alex there has been a fraud week of debate within opec. We have had the opecplus meeting. What we are hearing as they have agreed to hike production by 500,000 barrels a day in january, and will then have monthly reviews what they were at another 500 barrels a day to the market. That is doing the same, weve got a Strong Oil Market at the moment. But the
What we have seen a few days ago. Aude up by over 1 despite cut in the outlook for global oil demand, yet still see i still seeing some kind of rally in place. We bring you this mornings market moving news from all around the world. Joining us is bloombergs enda leon, emmanando good chandra, and michael mckee. Walk us through what we learned from the inflation front. Enda we had refractory data that should inflation in threed, the first years. It suggests factories in china are heading into deflationary territory. That is a clear negative for profits, and it will make it much harder to repay debt. To take away from the inflation numbers, even if there was a bit of a tick higher in the consumer side, the ppi was the one to watch. All indications are that the central bank of china has more work to do and will probably have to bring down Interest Rates over the coming months. Alix and tricky work, too. On the flipside, we have the next tit for tat in the u. S. China trade war. How is the
Clashes. President trump calls for change. Bitcoin, the cryptocurrency starts 2018 with a slide for the First Time Since 2015. Has it peaked in the shortterm . Lets talk about the first trading session of the year. The real story thus far is what is happening in china. A heads up of the story in europe and the united states. We will see a strong start stateside. It was a weak close to 2017, we will be up. 4 on the data. 2 on the s p the ftse 100 could be a laggard, but not by much. Asia iscy coming out of a relatively strong one. The picture out of china looking good. The data are coming through at the get go of the year looking favorable. We can talk about that and then we have the performance of the eight shares doing well in hong kong. On the gmm, we get a picture around what is going on. The dollar is the week bank theme running through these ofkets as it was on the back 2017. The week eight shares up by 1. 8 already. Singapore trading strongly, malaysia isnt. Will be interesting t
Just under 30 minutes to the close. I wouldnt equities in a second. I want to look at sterling volatility. We have seen the pound spiking after in pc member said after mbc members that he could vote for a rate increase as early as this month. Sterling set for the biggest decline in a week. Usually on the mpc. Dovish side of the you can see it rising at the end of the chart, hitting a ties level since april. Action at gilt, more on the front end. We have seen the front end of the twoyear get yield rising eight basis points with a 10 year yield rising for basis points. Here i have shown the curve of two verses 10, you can see the flattening off. It is certainly at its flattest level of the year since november. We will talk about the gilt Market Reaction in a moment. Talking that equities with the close coming in 30 minutes. We are seeing losses on the stoxx 600. This is the second day of decline for the stoxx 600. In fact, the stoxx 600 headed for the biggest twoday drop in a month. Most
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