We are looking at currencies, strength coming through for the yuan. Dollar weakness is a big factor. Of the planthe back signed off or agreed to on 0. 1 . Us, the euro is up weaknessollar again, down 0. 2 . Hade is still value to be when it comes to chinas bonds, 2. 96 is the yield the. Is the yield. Gold is closing in on 1900 an its spot price. Future is pointing to 1900 in the near future. Il down 0. 7 demandweakness is a factor. Rishaad lets get some sense in all of this. Joining us is frank benzimra, head of asia equity strategy, societe generale. Thank you for joining us. How was your strategy evolving . The last couple of months europe become bullish on , and here politics is playing an Important Role in closing the gap in terms of undervaluation. In asia we have been reinforcing the view on hong kong liquidity. Our remaining strategy is on china. Is that all down to this Recovery Fund and what that presents in terms of a more united cents in europe and the eu itself . A relation
600,000. Los angeles is facing a new lockdown. Tokyo and hong kong reporting record numbers. Australia is set to deliver a new budget, may be the biggest blowout since world war ii. Lets take a look at how we are setting up when it comes to markets. Ures this is how it is shaping up when it comes to the future contracts. A Third Straight week of gains when it comes to the s p, managing to withstand the lakesession latesession wound. Slow but steady rotation away from growth in tech. Much more going into value. Futures are up by about 0. 1 . Positivity when it comes to the trading in tokyo, just about 0. 2 higher. Chicago nikkei futures are higher, all eyes on whats going on in brussels with now three days of negotiations in the eu to reach this agreement on the stimulus package and hand out details. We are hearing details, including that the netherlands and austria remain the strongest holdouts in the eu recovery talks. A bit of anxiety playing through when it comes to the eurodollar t
In dubai. F quite the riskon rally along these markets. Let me give you a rundown with stocks in the u. S. , with futures up. 7 as we speak, and this is given thee impressive climate. Monetary currencies are powering forward. Eurodollar trade at the highest since march 10. In terms of the bank space, we have the german10 year the german 10year, again, a lot of these haven bids. Barrel, you are looking at counterbalancing forces that are kicking in, even though they are revising their forecast to the plus side. Lets get to the first word news now and cross assets with leighann gerrans. Hi, leighann. Leighann good morning, yousef. Beijing is in a new position that drew a rebuke from china and added fresh uncertainty for businesses in the Financial Hub. Legislation,gned saying u. S. Officials responsible for cracking down on dissent in the city. Italy has set a course to nationalize controversial tollroad operator auto strata after all night talks on the politicallycharged issue. Taking t
You just heard steven major of hsbc talk about the recovery that is out there, and it is a mystery. Already come our conversations this morning have really showed the massive ambiguity we have going into 8 30 this morning, and then jons conversation with Lawrence Kudlow near the 10 00 hour as well. It is an extraordinary day. An up market, and some stasis in the bond market as well. But we have said this all morning. It is not just about the payrolls report for the Establishment Survey. It is about the slew of Economic Data we get out today. Jonathan it is also not just about the data. It is also about the reaction to it. How will the administration respond to the bounce in the Economic Data, and how will it shape the fiscal effort in the month of july, when clearly, more help is needed . My personal worry is not that they dont something. I think for many people, including the likes of pimco, it is a matter of when, and not if. But do they move away from offsetting the income shock tow
Senior executives started trying to bring him down months before he was first attained. Governmenthong kong admits chinas security rules may not conform to longtime practices, but the Stock Exchange insist things will be better in the long run. I think this certainly creates a clarity and stability for us to move forward. Lets take a look at the monday morning markets. A tepid rebound after we had the biggest route in about 12 weeks on the back of that retailfueled surge we saw in valuations. This is what we are seeing when it comes to s p futures, down about 1 . Chicago nikkei futures also lower. Positive,ures in the still indicating a downside of about. 2 . Then stocks trading at lowest in about two weeks. Kiwi stocks, trading underway. After we heard a contraction when it comes to the Services Industry and a bit of a pullback when it comes to the aussie and kiwi dollars. Risk very tepid across the board. Lets turn to those fears of a second virus wave in beijing. China probing offic