And President Trump does not want to talk to president xi. The highestcords number of deaths in a week. And we have the gdp data from germany. Welcome to daybreak europe and welcome to friday after a rocky week in the market. On thee bit of green screen coming through from asia. Yesterday there was a rally on wall street. Initially, u. S. Stocks dropped after jobless claims again but we got a rally. Making a comeback. The gap between tech stocks and banks getting to an extreme level. Utures, a mix for europe, right on the screen yesterday. European futures up 1 ahead of the german gdp data looking to post the worst contraction for germany since 2009. 10 year yield dropping about eight basis points through the week. The dollar heads for a weekly aim speaking to risk off as well and oil heading for a third weekly gain as well. Some science the markets are slowly rebalancing. Kick off the latest development of the coronavirus with the global death toll exceeding 300,000. Cases fueled alar
Combine creating the u. K. s biggest internet and phone operator. And decision at don. The bank of england makes a rare earlymorning rate announcement imminently. We will speak to governor bailey leader on today about that decision, but a mission to china. The who considers investigating the source of the coronavirus as britain prepares to ease parts of its nationwide lockdown. Just under an hour away from the start of cash equity trading across europe. Lets take a look at where futures are trading. Actually, are we getting bank of england headlines now . Are. Yes, we bank of england votes unanimously to maintain its benchmark Interest Rate, to keep it unchanged at 0. 1 . No change in the kiwi program and no change in the Interest Rate. The pound is Holding Steady against the u. S. Dollar as a way there had been increased volatility in the pound heading into the decision. We are also getting a lot of indecision over how the expectations for how the coronavirus will hit the u. K. Voted
Signaling that it may need to do more to the boe, signaling that it may need to do more to combat lower growth. Bloombergs Francine Lacqua spoke to andrew bailey, the bank of england governor, following that policy decision. Gov. Bailey we are keeping options open on that. Im very clear on that. Other members of the committee thought it was a sensible decision to take in our next meeting, when we may have more information. Francine are we any closer to negative rates, or is that not an option right now . Gov. Bailey we are not ruling anything out because it would be unwise of us to rule anything out in terms of responses. I dont want to say we are nearer to negative rates, but we are not ruling anything out. Francine under what circumstances will we get negative rates . Gov. Bailey its a complicated question. You have to view it in the context of the times, also in the context of the financial structure we have, and what are the consequences of it. I just want to caution, we are nowher
Of the mining, some of the oil and gas doing well today. Health care is the lead losing sector. We will talk about that with the devil, with the Telefonica Liberty deal. Brutalbank of england, a session being forecast. We apparently have an issue here in london with manipulating the turkish currency, according to the authorities. Local banks having interactions with a series of them. And the norwegians have cut rates down to zero. Down despiteking the krona is knocking down to 1. 96 . Earlier, Francine Lacqua speaking to bank of england governor Andrew Bailey about open it do qe for the bank of england open ended qe for the bank of england. Weve got a rapid expansion of stimulus, so we got a lot going on. We have already got a lot thats happened, and weve got quite a long way to go in terms of what weve announced. In terms of payments, we will be going until probably early july. The view we took is that although we said in the march report that we will obviously continue to support the
Is the ecb doing every thing it can, or will it do more . I think that is the question the market is looking at. We are trading 1. 94 on btps. Vonnie in the u. S. , we erased all of our 2020 decline on the nasdaq, now down slightly lower, but pretty much flat on the year. Microsoft, facebook, all of the things have been doing all of the faangs have been doing particularly well, leading this rally. The s p is up, but there are a lot of crosscurrents, from earnings to the dire economics. We saw the adp report yesterday, followed by jobless claims today, waiting on the payroll report tomorrow. And of course, different reopens across the states. You mentioned currencies making lows today. The dollar index is higher at 100. 29. We were to speaking about crude, up 7 on saudi arabias goodwill on prices. Still not a huge amount for a barrel of wti. Guy every little bit helps. Lets talk about that bank of an story. The new governor Andrew Bailey making it clear today that policymakers could exp