Shenzhen link opens today. Gone . Is pokemon its rival leaving pokemon in the dust. Rishaad the currency markets, that referendum, italians voting no to thengly, 59 , constitutional changes. Haidi we were expecting a tighter race, but a decisive outcome came in quickly. Take a look at my bloomberg. This shows the plunge in the euro to lows we have not seen since march 2015. This poses a lot of questions in terms of regional stability, italys banks. Haidi that is one of the biggest concerns, eight thanks perhaps in danger, facing problems with balance sheets, haidi failing stress tests as well. Thats right. Not seeing Much Movement when it comes to dollaryen. Where is the safe haven demand . Rishaad gold. Anyway, the open in singapore, taiwan, and kuala lumpur coming online. It up, the to set demand for havens, coming down to the fact how the market was position coming into this week. The governor of the central bank scheduled to speak. That being said, money coming into u. S. Bonds, th
U. K. s Supreme Court, with 11 judges to hear the governments case on triggering brexit. Manus you are welcome to bloombergs daybreak europe, are flagship morning show in london. Good morning, i manus cranny. All eyes will be on the bond and equity markets, and the currency market. The world wakes up to its Third Political dislocation in as many as six months. Brexit, trump, matteo renzi. What happens next in the bond markets will be critical for the policy of the European Central bank. This is italian market calm before the potential political and market storm. Paul krugman is trying to gain a possible euro prices. What you have is 10 year Government Bond yields, the best rally in as many months. Weve rallied nearly 20 basis points. The spread against germany widens, with action down now 160 basis points. Will we retest those wide areas . The risk premium for Holding Italy, of what happens next, of who is the next leader of italy, is whats going to play out in Global Markets over the
And the u. K. Supreme court now begins hearing theresa mays case. If she loses, is a hard brexit off the table . Matt we are less than 30 minutes from the european open. Take a look at futures. We are looking at red across the board for europe here. U. S. Futures have turned positive, however, in the last 30 minutes. Watch this space. We do see ftse futures down 1 3 of 1 . Dax futures down,. 4 . There is this turnaround in u. S. Futures. Guy yeah, the turnaround certainly is, matt. We will see how that develops as we work our way toward the cash open in europe. We do know the euro is under pressure and italian bonds are under pressure. We are training at 1. 0610. Today we have finance ministers meeting and so much going on in terms of the moving parts surrounding the single currency right now. We are moving lower. It will be interesting to see how we get into the italian banks. How will they trade . What happens with mps . What happens with unicredit . So much news still to be decided
Biotech giant actelion while hedge funds continued to bet on a rival offer from Johnson Johnson. And president Francois Hollande names a new french Prime Minister. Good morning, everyone. Louisa is out at a conference today. We have a jam packed show for you. How about we kick things off with a look at the European Equity markets. We are slightly higher for the stoxx 600. Yesterday we shrugged off the italian no vote and renzis resignation. We are seeing weakness in copper prices, crude prices down. Lets see the xetra dax is comfortably higher to 0. 2 . German Industrial Orders were up by 4. 9 in october. The biggest rise in more than two years. The cac 40 pulling up to a quarter of a percent. The ftse mib, up by 0. 9 almost, this is after yesterday saw some choppy trading. At one point the market was down 3 , up by more than 1 . It finished the day lower by 0. 2 . The italian banking stocks came under severe selling pressure. In terms of the sectors, i mentioned it before, were seeing
Thank you. Feels like a long week. Did you miss me . I did a little bit. Thats it for december now. I he was disappointed to miss the latest european youre here until christmas . For the rest of the year, all the way. New zealand, dollar move, i missed all of it. That was a bit niche, not for you, i suppose, but a bit under the radar. Political instability over there as well. Im wilfred frost. Lets check in on the markets at this hour. U. S. Equity futures after another rally yesterday where the dow closed up about 40something points. Another rally yesterday after declines last week for the first time in four weeks. Since the election. We got a bit of a rally going yesterday. S p near a record, the dow finishing at a fresh record. The gains set to continue this morning. Slight gains. Dow futures up 10. S p up 1. Nasdaq futures are up 8. It was also buoyed by more strong data on the u. S. Economy. Services number looking pretty good. As for the tenyear treasury note yield this morning,