Passes the italys president to decide whether new elections need to be called. Donald trump says he has been looking for a possible tax cut for a long time as he kicks back against the threat of a u. S. Recession. Think the word recession is a word that is an appropriate, because it is just a word that certain people im going to be kind certain people and the media are trying to build up, because they would love to see a recession. We are far from a recession. Matt Boris Johnson comes to berlin to meet Angela Merkel. Germany prepares a 30 year bond sale with a 30 coupon. I will speak later with the German Economy minister this afternoon. I will ride my motorcycle to leipzig and try to get a question in. We are less than a halfhour away from the european open. U. S. Treasury yields bouncing back up. This is a threeday chart into yesterdays trade. Hit a low of 1. 54 , and are now backup at 1. 58 . The worry seems to slip away to some extent. You also see futures rallying across the board
The r. B. I. Says they are ready to slash rates further. And not finding drivers. Disappointing sales growth sends uber stocks plunging in after hours trading. They report their biggest net loss ever. Matt good morning. Lets check out some of the data points you want to watch today. First off is the yen, continuing to gain strength against the dollar. The stock traded 106 earlier, now at 105. 98. A new handle on the yen as trade tensions simmer and cause investors to reach for safe haven assets. Also, europound is headed for its strongest level since the financial crisis. Pence almost there, at 98 for a euro. The pound continues to weaken against the shared currency. The u. S. 10 year yield down two basis points at 1. 70. s had been down in the 1. 60 earlier as they reach for safe haven assets. Lets check in on the markets in asia. We go to Juliette Saly in singapore. Juliette mostly positive here. Asian stocks higher for a third session. We had a pretty good beat in terms of Second Qu
Outperforms european rivals with earnings that beat estimates. We speak to the ceo, bob dudley, in just a moment. Back to the table, chinese trade negotiators hope the u. S. Hosts the u. S. Trade team as huawei reports earnings. Mexicos president says he wants lower rates to boost. The economy is not growing as we would want it to grow. On the other hand, there are no risks of recession. Matt less than a halfhour away from trading across europe and in the u. K. Im looking at a fiveyear chart of the pound. We are getting back down to the 2017, asit in 2016 and the likelihood of a hard brexit seemingly increases. That is not affecting equity Index Futures in a negative way. Take a look at equity Index Futures across europe after the gains that we saw in asia. We still see gains in ftse futures, as well as cac futures. However, dax futures are still down this morning, although just marginally. Euro stocks, ftse futures indicating a flat open. What are you seeing on the gmm screen . Anna l
Legislation,extra extradition legislation saying it is dead. Deutsche bank shares slumped over 5 as danske bank flashes its profit forecast for the year. Manus welcome to daybreak europe. Time for a little defense. S p, lower. It is blackrock who leads the charge this morning, cutting their equity risk, changing cash balances. Go moderately defensive, the difference between blackrock and blackrocknley is likes u. S. Equities. They still want to be overweight u. S. Equities, so that is something to bear in mind. How much more bang for your fed back will you get . We will put that to the guest host this morning. Lets look at consequences of over ambition. Capital. Apple. The michigan what happened during the session, a downgrade coming through. Fundamental deterioration they are saying. They are worried about the iphone and in terms of analyst, they havent been this negative on apples 2004. Ratings on the stock, the most since 1997. The market is pricing in 87 basis points of a cut. Thre
Decision to move the Central Bank Governor. It could undermine the regulators independence. Diluting the case for cuts. Asian stocks and u. S. Futures fly. Morgan stanley cuts its Global Equities allocation to the lowest in five years on concerns about elevated valuations and profit headwinds. New democracy problems. Greeces centerright party leader takes over as Prime Minister abe and am quite election victory, but will his as Prime Minister after his election victory. I have a strong mandate to deliver on my agenda. Which is an agenda to grow the economy, to create more jobs, but also to make sure that people feel safe again. Manus a warm welcome to bloomberg daybreak europe. Deutsche bank is the most read it has all changed. Read headlines coming through. There is an news ceo. Withp is named as ceo immediate effect. He was brought in to take over from the previous dealmaker. He is the new ceo, effective september 1, part of the longterm Succession Planning. What else can until you .