I am nejra cehic in london, great to have you on the show today. This bank is raising its benchmark rate, 25 basis points to 1. 25 . Talking about the lost last hawk standing, nor just norge s saying they will likely hike again in 2019. It is, by the looks of it, a hawkish hike. You can see the reaction in the norwegian krone jumping. We have also had news from the philippines centralbank, keeping its key rate at 4. 5 . Lets take a look at the markets. We are still dealing with the fallout from Jerome Powells press conference. The bond market seems to take what he said well. In europe, were seeing equities on the front foot. Playing catchup because these markets closed. U. S. Equities gained. 3 . It was the defensives and bond proxies that led the game. It was a muted reaction but futures point to future gains. The 10 year yield down to basis points. Of course, we did a drop below it, hitting a 2016 low. Curve steepening yesterday, flattening today. The dollar down for a third day. Wil
Was the third negative week. On the s p 500, down. 10 . Second negative week in a row for the u. S. Markets. We continue to see the strength in the boards with wall street fading. We bounced over. 10 . The decent appetite moving on to the poboard. The slippage in the basket of media names. You have Universal Music Group and ung at the bottom of the chart. That stock down more than 1 . The travel and leisure basket at the bottom. Te telcos reversing. Vodafone is weaker at the start. The chemicals basket are giving back territory. Real estate is below the flat line. We push higher. Banks with 1. 7 bounce for the italian lender. 1. 5 pop for the commerce maker. We have retail out pacing industrial. Household goods up. 25 . We have autos with strength. All trading higher. Oil and gas also seeing a further improvement and technology with the top position and modest uptick in europe. Lets take stock with the ftse 100 this morning at 7,731. We are trading above the 7 threshold. Descent bounce
The real departure point for normalization is july but later prayed the fed will be slow to lower Interest Rates. We are seeing the market fundamentally reassess the outlook for fed cuts for this year. This is bloomberg surveillance with jonathan ferro, Lisa Abramowicz and annmarie hordern. The first message i received in the commercial break, im going back to bed. Which i had a feeling some people would have that feeling. And massive week ahead. A recipe for a big week. Nvidia, the investors conference later this morning and a sprinkle of Central Bank Decisions. I cant get past this, capitalism will eat itself and all these interesting things. Becoming more dependent on the state for handouts. Lisa this is the reason why some of these big structural changes matter. The fed and the boj, the Central Bank Decisions are they losing the plot, are they losing the narrative, are they losing the economic trajectory being transformed by other factors including some technological shifts that wi
Before we talk about markets. Ecigarette maker juul, which, pardon the pun, almost went up in smoke last year, bankruptcy. Were hearing the company is seeking to raise about 1 billion here and it is working with jeffries to do that fundraising effort. The company had a bite had about 800 million in revenue in 2022. The hot headline is they are looking for about 1 billion in funding there. We will get you more details later in the show. That aside, and smoking is not good for you just in case, markets right now, not really up in smoke but we are coming up to lows in the day. Were down for a third day. China opened up and is providing some left to these some lift to these markets. We will flash it on your screens in a moment. Down for a third day. Certain sectors are picking up the slack,. 5 to the downside still. But were stable here. You had a big drop in u. S. Markets overnight, you had a melt up on yields with a 10 and 30 year continuing to move up. We are now closing at 4. 10. It re
Challenger claiming victory. Translator i can lead and try to govern the victory by accepting the electoral results. Translator its a regression of rights and liberties have failed today u. S. Energy secretary Janet Granholm called for greater oil output as she tells cnbc, there is a volatile environment in energy markets. A lot of emotion in these markets and so we have deep concern about trajectories of where things are headed. Reporter and the wildfires prompt europe carriers to have the biggest Mass Evacuation of the country in history good morning again, everybody. Welcome to street signs. We have such a busy week coming up but also a very busy start to the day as well, namely because were getting a lot of flash pmi data out of the eurozone countries. We have the flash composite number out of the eurozone let me bring that to you it has come in at 48. 9 that is lower than where we were back in june so a little bit of a contraction versus where we were just in the prior months lowe