Political perspective. Juliette and a new bloomberg reports shines on Clean Energy Investment. China is far and away the world leader in terms of the most amount of capital been capital being deployed and the most of the equipment. By 2040, about 53 of new car sales globally will be electric. Juliette buckle up, conversations from the north American International auto show. It is a milestone for our future plans, but there is more to come. Our growth is coming from a degree of buoyancy from the markets but this is market share growth. They can have the option of delegating tasks to that vehicle that their grandfather never expected, including never crashing. Juliette it is all ahead on bloomberg best. Juliette hello and welcome. I am juliette saly. This is bloomberg best, your weekly review of the most important business, news, analysis, and headlines from and interviews it from Bloomberg Television around the world. U. S. Markets were closed on monday but the week began with a startli
The accident happened in southern peru are no word on the cause yet. A bill was presented today to enforce tougher immigration rules. Up bill is aimed at speeding the expulsion of people who do not provide better conditions to those who want to stay in the country such as offering more classes and job training. Organizations are criticizing the proposal as represses and unfair for silence asylumseekers. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. Im mark come Mark Crumpton and this is bloomberg. Julia live, i am julia chatterley. Lisa i am in for scarlet fu. Joe i am joe weisenthal. Julia stocks rapidly having gains with further tightening. The 10 year yield trading at 2. 9 4 joe the question is what did you miss . Meetingism in the final based on inflation. Pressures may be lurking. Stocks balancing. David fitzpatrick is talking about why facebook and taking a matter into its own hands. Why the boom in electric vehicles cou
First, china has devalued the yuan, cutting by 1. 9 . Francine that ends a peg to the dollar. The decision led to the currencies against oneday loss in more than a decade. Run us through the Immediate Impact on markets. Absolutely. This was an abrupt move by the chinese. The yuans biggest drop in two decades and a lot of lingering questions, or questions that will spark geopolitical questions that will have to be dealt with with trading partners. Lets talk about the market impact. We begin with equities which saw a more muted impact. The hang seng index now turning negative. The shanghai composite flat. It was higher earlier. That looks like it is basically unchanged. Same thing with hong kong. The dude see optimism in chinese shares on speculation we did see optimism in chinese shares on the speculation that this would boost exports. Not market friendly to those countries that would be adversely impacted, particularly in the asiapacific because of chinas move. Countries that are being
What is happening overnight, things you might have missed. The rally in the u. S. Stock markets halted a selloff that had erased trillions of dollars in equities. Lets check in with the latest. David, good morning. David it is about midday here in asia for our thursday trading session. We are really seeing a tailwind coming from that, no other way to describe it, that surge in wall street overnight. We did feel it at the open. Volumes are heavier. Compared to the 30 day average, or just about every Single Market here and in the region except for shanghai, which i will get to. A move back to riskier assets, as well as cyclical commodities. Copper actually gained in asia. That being said though, the other side of this is that we are coming off and i think this happened over the last hour or so we are certainly coming off a high of the day. We are of as much as 2 . Japan a big reason for that, as you can see here. That is what we have done so far on thursday, we are only up about 7 10 of
Market impact on Hurricane Harvey. 5 , the futures up highest level in two years. Texas is the largest cotton producer in the u. S. The next two indexes are interesting as far as what is being mortgagebacked, products or production. The higher this goes, the tighter we see the Product Market. The second is the vti versus signifying more production in the u. S. , meaning lower as it comes down. In texas, floodwaters overwhelm houston as Tropical Storm harvey inundatess texas, southeastern texas. Us is our commodities managing editor. In terms of the houston damage, this is unprecedented. If you are familiar with houston, this is a place that tends not to take water terribly well. In terms of the industry itself, we are starting to see refineries shut down as the storm moves west to east. Alix as far as the refineries shutting down and crude reduction, that is well known in the market. What is not talked about as much is how important crude exports are two men support. To mexico. They ha