Giant announces an updated product line. Welcome to bloomberg daybreak europe. Good to be back ahead of the most important ecb meeting of the year. Trade ineing a risk on asia, green on the screen for the msci asianpacific index. We have a tweet from the global times talking about china putting measures to mitigate the trade war giving lift to risk assets. We see Sweet Nothings on the s p on a headline level. What has been going on beneath the surface for sector and factor rotation moving from more growth to value. Looking flatres, so another day of perhaps not much to do on the headline level. The big moves have been in bond yields. Jumps into year and 10year. Hitting its highest since august 5, down a touch today but sitting on 1. 66 handle. Great to see you and great to be back. Manus yes, indeed. Yields just off the onemonth high. We will talk about what james gorman had to say. To show the oil market because what has gone on is john out. N, this was the biggest pricing dislocation
U. S. And china are trying to temper some of the repercussions trade war is having. You can see euro stocks gaining 0. 6 . The yen is also a good litmus 7. 81and you can see one of 107. 81. Tomorrow, we also have the ecb to look out for. Coming up, we speak to the former u. S. Ambassador to the European Union. Dont miss that interview at 10 30 a. M. London time. We talk u. S. Foreignpolicy and brexit. Lets get straight to the first word news. U. S. Goods to be exempted from tariffs last year were announced by china at the top of the list are pharmaceuticals and lubricant oils. Beijing is seeking to ease the impact from the trade dispute without lifting charges on agricultural item like soybeans and pork. The ministry of finance says further rounds of exemption will be released. Morgan stanleys ceo warned against the fed cutting too easily but says he supports of the reductions made so far. He made the comments at the Columbia Business School in new york. I have supported the latest fed
We see a bit of a drop when it comes to european stock equities, down some 0. 4 . A lot of the focus is on what Central Banks will and wont do in the upcoming days. Looking at pound, because of herschel he parliament and the suspended. Rogued, 1. 63, soear yield at it is stabilizing a little bit. We will be speaking to a Morgan Stanley chief executive. That interview coming up at 7 30 p. M. London time, but first, lets get straight to new york city and the bloomberg first word news. Of the chineser communist party taking aim at comments from a peter navarro, saying they are unconstructive lies. The president ial advisor is considered a hawk. He has repeatedly accused china of seven deadly sins. The peoples daily says such comments are preposterous. Te winningster con the first of two confidence votes in the italian parliament. Withomised to work closely brussels on a 2020 budget featuring lower labor taxes and a minimum wage. Later today, his Government Faces a senate vote. Factory pri
Surveillance. I am Francine Lacqua in london. Here are your markets, you can see the stocks europe 600 is down. But nothing like some of the anxiousness we saw over the last couple of days. There is definitely a deescalation, so in certain parts of the world, there is relief in the markets. Im looking at eurodollar 1. 180. If you are looking at the yen, it is also a little bit off the anxiousness we see out there. This is the picture for the u. S. Yield, one of the main metrics we have been following closely. Look at the 30 year yield over the rest of the day. Coming up, a conversation with mike wells, chief executive of prudential. Lets get straight to a to bloomberg first word news. We begin with the German Economy, shrinking in the Second Quarter, piling pressure on Angela Merkel. Economyht, she said the was going through a difficult phase. From the previous three months, output fell and exports slumped as the trade war hit manufacturers. The italian Prime Minister has been called t
Propaganda,o speak but to talk about their leadership and how it has harmed iran. Matt from the german capital berlin, good morning. Nejra i want to quickly go through numbers out of renault, the french carmaker. Linyear revenue, the top e, close to last years level. Previously it saw a rise, so Renault Joins the slew of carmakers cutting back on the forecast, the outlook for the year, with slowing auto demand in europe, down 1 , down 7 in china last month. We see a global slowdown of autos, and renault is joining. We will talk to their ceo later on today, just after 9 00 a. M. This morning. Nejra . Nejra u. S. Equities yesterday fell from record highs. All 11 Industry Groups fell on the s p 500. Futures are a little higher on the s p 500, up 0. 2 . In europe, the big story was mario draghi, somewhat undoing what the ecb statement said, hinting rate cuts and more stimulus, but mario draghi says there may have been different views on the governing council, and that the risk of recession