This is countdown to live from london. It is just after 6 00 here in london. We knew that today was good to be all about Central Banks. We thought we would focus more on the ecb. Turns out, we have surprise out of new zealand. The surprise rate cuts from the new zealand bank, what did to the Government Bond twoyear yields, currency falling as a result of the surprising move. Thethe central bank cites Global Economy for doing this, further easing may be needed to meet weakness in the economy. It is ecb day, and we have people focused even more so on that scene. Let us check in on the radar. One central banker decided not to give further stimulus to markets, it was the south korean central bank. The south korean currency is increasing after the bank of korea gave no change to its Interest Rates, against all 31 major peers this morning. At this in on oil prices, at 38. 21 on nymex. But that was after some real strength yesterday, the wdi up by 4. 9 in yesterdays session in new york. And b
Equity markets come up switch up the board. The weaker dollar story, stronger yen. It is just the movement at the front end of the Treasury Curve driving the fx market. The curve more sensitive to what the fed may or may not do. Rates stand low for longer. We are just getting headlines from valeant. It isonth comfortable with the current liquidity decision. Airport in brussels will remain closed after last weeks terrorist attack. Senting passengers will be to the hangers to collect their bags and the departure hall will handle 1 5 of the normal flow of passengers. According to police, the what isasked someones post do when he has not seen his wife and children someone supposed to do when he is not seen his wife and children in 24 years . Republican president ial candidates backing off their promise to support the partys nominee. He does not says feel beholden to the loyalty pledge because hes been treated very badly. Yellen, it seems. T urging caution regarding Interest Rates, pushing
Hour. What in the world is going on here. Thats what serve wondering at this point. You always have to wonder going into today who is shorting valeant because they wondered what else could happen. Today were seeing if it closes at these levels it will be the biggest one day drop ever in its history. Its down more than 40 today so you mention that restatement of its guidance on the call. This is something theyre beefing up their financial reporting. Trying to improve their communications but in their press release the next four quarters is going to be 6. 2 to 6. 6 billion. And then on the Conference Call their cfo said it was going to be 6 billion. Thats how it is written in the slides. Somebody tried to clarify and said there is a typo on our guidance. This is the kind of thing that people cannot believe anymore. Now youre seeing analysts saying we thought it was a communications issue. Maybe they were bad at that. Now we have serious questions. Now the analysts that stuck with it have
Just getting some pmi data on euroacturing for the area and the figure is 51. 7, a slight uptick from the earlier 51. 5. 51. 7 showing the Manufacturing Industry is expanding. Any number above 50 shows expansion. Economycourse is an that grew 0. 6 in the last quarter. Still, inflation is a bit of an issue. Lets get to the bloomberg first word news desk. Nejra halliburton and baker hughes have called off their 28 billion merger, citing challenging regulatory conditions. The proposed union between the oil Service Firms admit antitrust resistance in the u. S. And europe. Halliburton must pay a termination fee of 3. 5 billion. Puerto rico will default on a 420 million bond payment today, escalating the biggest crisis ever in the 3. 7 trillion municipal debt market. The governor warned the itsrnment would miss obligation, saying the commonwealth needs to focus on providing essential services. Investors hold 900 million of its debt. Creditors would accept a potential haircut according to the
Is not in the cards. We went into it in detail when the formal offer was put in front of us. But its a no show. The Fiat Chrysler ceo buys a bit more time with the United Auto Workers union which says it will keep negotiating with the car maker. Lift off for amazons jeff besos as he brings his dream of launching rockets into outer space to floridas Cape Canaveral. We had the lowest volume session in a months time. Also the narrowest trading range that we have seen since august 18th. That tells us that everyone pretty much is on the sidelines right now awaiting that fed rate decision. Lets check in on u. S. Market futures. Were not going to see Much Movement at the open. The implied open. Were going to be down close to 3 points. Dow jones industry looking for a decline of 20 points and nasdaq should be lower by 7 and a quarter points or so. Lets also just quickly break the german numbers, Current Conditions came in at 67. 5. The expectation was for 64. Thats better than expected. Expect