Sees oil prices spiking the most ever. Brent has paired its initial gains, but still up more than 10 this morning. The president says hes locked and loaded. The u. S. Point fingers at iran, donald trump sang a response depends on verification. Tehran denies. They assess a new threat to crude supply. D jumps is money flowing floods into currencies for other nations. Less than a halfhour until the start of the european open, and markets dealing with oil price move, thats reflected in futures. Futures will be weaker at the start of trade. Well be looking for reactions in the oil majors, asia stocks, the extensive hedging the various airlines have in place. All of that could be key after the aviation stocks. Lets have a look on the gmm. Weve seen the biggest ever day jump in the oil price. This is having an impact on various assets. Instead of a flight to safety, its more of a sell everything going on here. Money coming out of the markets in asia. South korea and china were closed friday.
Down at the bank of england where the debate is how hard has brexit been on the economy . And if they take a sledgehammer to the rate, the policy affected just a month ago. Manus, as we go to the program, outside the bank of england a lot more to talk about. Let us start with the bond market. I have a great chart u. S. , 530 spread in the we have seen that widening for nine straight day. What we see here, many people suggesting that this is giving us a signal in the markets, that we have not seen since 2012. The yield curve deepening for nine straight days, investors went to be in at the shorter days, that we might not see an increase in interestrate from the u. S. Fed when they meet next week. A busy week for central bankers of course next week. And a policy is on hold, what is that due to inflation, and we see bond markets adjusting as a result. Lots of talk about in the bond market as we go for the program. Lots more from manus at the bank of england. Let us throughout the risk rada