Down the president. Americansler bows to first jobs policy. Looking positive out there, the absence of japanese trading, a Public Holiday they are, 30 minutes before the start of the session in hong kong and shanghai, the open in kuala lumpur, taipei, and singapore. Here is Sophie Kamaruddin. Sophie a number of markets coming online, checking that space. We are seeing continued gains on the asx and new zealand, and the kospi reversing gains made in the morning. Space,look at the data whats happening with Dollar Strength, resuming strength following the friday jobs report. Note, the yield of seven basis points friday. Bill gross is expecting a breakthrough to the 2. 6 level, pushing it into bear market territory, gross saying the treasuries are at an inflection point. Gold edging higher after falling in the wake of the u. S. Payroll data, gaining demand for alternative assets, and equities soft in. The robust case for u. S. Interest rates going higher could make bullion less appealing.
Daybreak europe our flagship show from here in london. Manus i am manus cranny. Biggest twoday rally on record, bang, turn it around, the biggest draw. Added,ugh the bazookas the pboc. They manipulated the liquidity. Here it is. Overnight, we have dropped by reserves,got the fx which, in on the cusp above 3 trillion. The question for the market is down, are more capital controls to come. The pboc making life difficult. That was the cause of that pain for shorts. This is a deviating it somewhat. We see how close we are to that seven number, six. 9, on the radar before then. Back, weakening, 6. 88 or so, looking towards that 6. 9 level. We did not, they did not have to drop fx reserves below that 3 trillion level to defend, but how long that remains the case. It did drop for six straight months. Manus this is the real momentum. Theresa may making it clear that exiting the eu and regaining control of the borders is a critical point for her. ,re we moving to a hard brexit a break of 122 in
Thats why youre here. Cant find anyone. We have one guy left. Simeon. Is he bullish . He will be on. Already talked to him. One of the things hes saying is even if if there is a stumble in some of this stuff, market already deserves to be here, which is what i think. I think so, too. In terms of tax policy or that stuff is a bonus. Just not having the private sector vilified on a daily basis, not adding a new regulation, layering on a new regulation every day. When you take that off, its going to come back to a more normal level. Im with you. I think i know you are. The multiples are getting a little stretched, but Interest Rates, you know, stock prices are a function of earnings and Interest Rates. Interest rates are historically low still at 2. 5 roughly. Youre the one who coined t. I. N. A. I have. There is no alternative. And we have other things to talk about which in particular with the Trump Administration, were not talking about financial repression, monetary policy, were also
I am mark tucker. Is 8 00 a. M. Across the emirates, 4 00 a. M. In london. Im Tracy Alloway in dubai. David im david and glass in hong kong. There is a lot to talk about this week. The fed has not been fully priced in. Had you make money if everyone expects them to move . Have a look at some of these charts i have for you right now. It speaks to the risk ahead. First one, dollars saying. That they are saying is that hair you want to watch across asia because it has not really gotten ahead of the 55 day moving average. It bumped its head in late january and a few days ago, so this is something to watch. The other thing i will point out is when you look at their reflation trend, we had data earlier from japan ppi. When you look at the other charge, 6711 on the bloomberg, we now have both china and japan showing solid signs of reflation when it comes to the factory. That bodes well for the inflation trade and when it comes to pricing for the oldschool industrial conglomerates in both coun
Near Britains Parliament was inspired by islamic extremism. Theyve arrested seven people in raids. And a missile analyzed. U. S. Defense officials are speculating the type of missile launched by north korea on wednesday was not an intercontinental ballistic type. A School Operator in the center of a political scandal thats rocked japans ruling party has given sworn testimony no lawmakers. Allegations have surfaced over illegal interference in a state land purchase and possible connections to the Prime Minister. Nhk worlds Tomoko Kamata reports. Reporter the School Operator spent thursday giving sworn testimony to both houses of japans diet. He was summoned by lawmakers in an effort to clear the air surrounding a scandal that implicated the Prime Minister and other lawmakers. At the heart of the issue is this statement. Translator shehe took an envelope out of her bag and told me it was from Prime Minister shinzo abe. Reporter kogoike was referring to the Prime Ministers wife. He says s