Close to current levels. Joining us now from our amsterdam euro is the Senior Energy economist at abm amro. Unchanged does not sound so that in a world where everybody is concerned that the economy is teetering on a recession. Do you share that view . Say i dont fully agree. We are a little bit more bearish to be quite honest. Especially after last weeks opec meeting, i think that agnal was rather mixed and little bit disappointing, actually. Saudisderstand why the think it should be 50 it should be 65, but i have my doubts whether we see that. Anna good morning to you. Let me ask you about the impact of the price we have at the moment on the ipo taking place tomorrow of saudi aramco. What are your expectations . We have seen expectations paired back. Creation of the worlds most valuable company. Yes indeed. It was a positive. In that respect. It was well oversubscribed. The price at the top of the range. Indeed, on the other end, it was disappointing because saudi arabia expected more
Enter a Customs Union with the eu postbrexit. For the complicating theresa mays negotiations with brussels and her own party. All eyes on the United States jobs report. Traders will be paying attention to wage growth. Will it be enough to shake off the retreat in equities and treasuries . Was than minutes away from the european open. Take a look at futures. We are looking at a mixed trade in futures. Ella think they are positive in britain, negative on the continents. Andttle bit of direction trend. At the same time, we see u. S. Treasuries yielding more than they were yesterday, 2. 78 now. Just yields have come down a little bit, but still at a level traders havent seen in a long time. That could spook as some traders and it could be a reason you have seen a selloff in the features session. Will that carry through into the cash session . Will that yield attract investors to put cash back into the riskfree rate of u. S. Treasuries . What do you feel on gmm . Anna lets take a look at th
Monetary policy of the ecb will continue to be extraordinarily accommodative. Anchor a very warm welcome everybody to bloomberg daybreak europe. It is friday morning, our flagship morning show. I am anna edwards. Matt and i am at miller in berlin. Quite a night for markets. Quite a rocky ride. The missile over japan sent a lot of people running first aid haven trades that kind of fizzled out. Ina certainly putting guam range. That did not seem to make the market worry more this time than last time. Just to tell you briefly what is coming up in the program, let us get our viewers up to speed. Jpmorgan spoon founder tim martin joins us for the first interview of the day to talk about earnings and brexit. But matt, you dive into what has been moving markets are not moving markets over the last 24 hours or so. You see the second Missile Launch in japan in as many months, putting guam within range of these missiles. We did see it move the yen. This chart is charting came and the end. And th
Highest close, though, since 1996. Good morning, everybody. This is daybreak europe. Matt good morning, anna. Guy good morning, matt. Nna good morning, matt lets talk about whats going on in spain. The chartier tracks the biggest etf that tracks spanish equities and the appetite weve got for that. The president of catalonia seeking talks with Central Government in madrid, not mentioning unilateral independence. That is sending more money into this etf that tracks spanish stocks. We have seen money coming out of. His particular etf we signed trading at volumes that were 700 of normal daily volumes, and we saw the euro gain a little bit. You will see that the euro is Still Holding on to some of those gains. Its funny, i was looking at the exact same etf here on my screen as well. Also, the euro, as you mentioned, holding on to some of the gains. Take a look at the risk radar this morning. I am going to kick it off with the euro. Spain front and center as far as what is going on. In dolla
Everyone to bloomberg daybreak euro. I am anna edwards. You am matt miller joining here in berlin. An interesting day. It does not look like we have seen much move in risk assets as a result. Even though the policy announcements have been with no change. Anna we have had a lot from Central Banks. We have also heard from the Central Banks and the boj clearly on a different path at the moment at least from the the doe even from the boe. I want to talk about the equity markets. We have a great chart, the world equity capitalization near parity. 75 trillion seems to be the magic number whether youre looking at global gdp or global stock market valuations. At the bottom, we have the ratio between the two. At the highest since 2008 relative to the value of global gdp or. Not necessarily suggesting it is overvalued. It seesill lynch says global stocks as overvalued. It is a nice and simple way to look at stock market valuation. Matt fascinating chart. Let us take a look at the movements insid