What did you miss . Caroline brexit, but we are also 19 days away from the u. S. Election. Volatility is going to be a term you will hear a lot of. Howare already seeing stimulus has been the constant drumbeat for weeks. Covid lockdown in europe sent equities to their worst day in more than three weeks. All we hear is analysts adjusting their game plan for a potential democratic sweep. Investors are using every data point they can to help them prepare. At least at the moment, it feels as though the jitters surrounding the election have calmed a bit. The polls seem to widen. Joe no doubt about that. For a long time, the election has been seen as this key mother of all volatility events. Lots of concern about an election that drags on until january. All of that could happen. We have no idea what will happen. Markets seem to be a little less anxious. We do see a flattening of the volatility curve perhaps due to the increasing believe that joe biden is in the lead. Maybe it will not be tha
Grounds. Nikei down. 4 . The japanese yen hold steady against the u. S. Dollar. Industrial production beating estimates. The asx 200 down 1. 5 as the aussie dollar continues to strengthen against the u. S. Dollar. Quarter end demand from iwiorters as well, and k stocks reversing yesterdays losses. Holding steady after falling for the lowest level in a week. Steady ahead of the first u. S. Debate. Continues to lose ground after a touched the lowest level in almost two weeks. We are seeing the offshore yuan holding steady. We might see some china bashing in that debate. That is it from daybreak asia. Coveragemarkets returns at 11 a. M. Hong kong. This is bloomberg. From bloomberg headquarters to our tv and Radio Audiences, i am david westin. Welcome to a special edition of balance of power, coverage of the first president ial debate. President donald trump and joe biden will share a stage for the first time tonight in cleveland as they debate each other at a campus shared by case western
30, which is interesting and worth bearing in mind we have not traveled that far. The bank of england stepping up preparations for negative rates. You can see quite facing the repricing at the front end of the u. K. Curve as we see the two moving as twoyear prospects of negative rates appear to become greater. Alix more on that boe decision with paul dale, capital economic chief u. K. Economist. Negative rates when, where, the future, how do they do it, when do they do it . I think the answer is probably not for a while, if they even do it at all, which suggests to me that the markets have got a bit too excited. We know that the bank of england has been thinking about negative Interest Rates for some time and said in august for the first time that it is part of the target. And today, the minutes revealed that they have started to make preparations so if they didnt want to use them, they could use them. Now i think that is very different to actually wanting to use them. Back in august,
Have nuclear capabilities, it is nearing that milestone in the nuclear arms according to the pentagon. I want to get Market Reaction from abigail doolittle. We were much higher before this report. How are we thinking . Abigail we are right around where we were before those headlines. The s p 500 about. 25 . The risk on rally we have seen in august, the s p 500 in august up about 7 . Itre we are really seeing for tech stocks, the nasdaq 100 putting in another alltime high. At this point the nasdaq 100 up almost 1 ,. 9 . Not surprisingly, this has everything to do with apple, up 2. 6 . Yesterday climbing after it split, investors liking its postsplit facelift. There is a four for one split. Now the stop is around one hundred 30 as opposed to 500. The value is not different, but the optics may be more attractive to retail investors. Bloomberg put out an exclusive report about the fact the company is preparing an iphone blitz for this fall, targeting 75 Million Units to be sold. Perhaps th
A substantial fall in secondquarter gdp. Raise to succeed shinzo abe heats up with a long time i lay set to announce his plans. Allys the a longtime set to announce his plans. Taking on the set up from markets this wednesday morning. We are seeing muted price action so far with futures edging higher. The nzx 50 adding 4 10 of a percent. This after the tech that the tech lead rally that saw the nasdaq pushed closer to 12,000. In australia, stocks may edge higher after the worst job worse drop in month. A decline was on positive building data. Checking in on the aussie dollar ahead of the Second Quarter gdp reports. Holding below 74 but still near a two your high. Offshore yuan holding a three year again. The value may test the pbocs tolerance. Check out the euro back below 120 after reaching that level for the first time in two years after the ecb member philip blaines remarks the level does matter from i terry policy. The dollar rebounded from a two year low. As u. S. Markets and tech