Welcome to bloomberg daybreak europe. Right here in the city of london, i manus cranny. I happy thanksgiving for any of our viewers who are tuning in late at night. The United States of america, your markets are closed, have another glass. When it comes to the steelmakers of the world, this is the be. Of 172ed operations billion euros. 1. 7 billion euros. Out to 1. 2. Comes earlierounced a merger this year, taking steps to combine the european still business with the regions secondlargest producer. Says itest dealmaker expects the rebate to continue into next year. Thats the question the markets i dividend up . 15 a share. They are riding that Steel Recovery like a bronco. We will have a conversation with the man who runs it, heinrich heise and your joins me just after 7 00 a. M. Just how bullish is he . We will face a squeeze in terms of that market going into next year. What that are way to start your day been a look at the global Steel Industry and what it is producing . Its a perso
Anna very good morning. 6 00 here in london. 7 00 if you are joining from paris or berlin. Not a lot of movement in the bull market. 2018 a seen so far in surge in risk assets. Morgan stanley talks about euphoria. Others talk about a melt in equity markets. Equity markets in asia in the wake of the bull markets, msci asiapacific down. Perhaps taking a breather. Speed anddo with the pace of that move. We will talk about that more as we go through the program. Lets talk about what is going on in currency markets. The yen is on the move. For ase currency is up second day. It was described by many strategists and economists as a small tweak to boj policy, not it not a change in their qe strategy. We do see a second day of moves for the japanese currency. Crude oil up. Of thellows a strong set moves for energy markets. We see 2. 5 gains. This all comes on the back of u. S. Industry data which signals that crude straps and dropped for an eight week. That may be the biggest decline since 1999
The earnings season gets into full swing a little bit later on. I think a lot of investors today are trying to digest this surge of bond yields and what that means for a possible rotation. The flipside to this think synchronized Global Growth, the impact on asset classes. We had a story with yen and th e boj. We know Philip Hammond and david davis are separately in germany. Now, coming up, we discuss super cars and making motorsports very cool again when it comes to for example, sustainable gas ceo. We get commodity calls from jeff curry at Goldman Sachs and a little bit later in the day, we bring you the exclusive interview with elizabeth warren. We talk immigration and tax. The children of undocumented immigrants are facing deportation from the country and have won a court order temporarily blocking the Trump Administrations decision to end the dreamer program. A judge in San Francisco rejected the argument that the courts do not have the authority to secondguess whether the presiden
Favorite firewater. To show you that demand is not necessarily coming from me. Bank of korea out with its Rate Decision as expected by all economists. Charge unchanged. Certainly, Monetary Policy heading towards the tightening trajectory. We will try to get more details. This is the second to last meeting for the current government. Clearly, the bank of korea is very much monitoring the effects of that rate rise in november. Juggling these issues including the Household Debt situation which is pretty severe when it comes to south korea. , inbank of korea on hold the meantime, asian shares following the leader. Fresh record highs when it comes to the asian session. Lets get over to the markets. Sophie is taking a look at the party. Sophie yes, the party is back on. We have data from china. Just have the korean won fluctuating below that 1070 mark which abridged earlier in the session given the rise that we have been seeing in the greenback. The cosby is heading higher today. Take a look
A warm welcome to you. 7 00 a. M. In central europe. We are back to black. Msci asian stocks are up. A little bit higher, but asia is back in the black. So is the s p 500. Stocks remain cheap relative to bonds a higher longterm Interest Rates and 10year gilts stay below 4 . A little way to run. Tronger cpi stronger inflation data, a stronger economy which quid pro quo drive future stocks as is supposed to last weeks terrorist attack by inflation of sentiment within the markets. Stronger inflation has given you the reaction you want. Banking stocks are little bit on the up. What can save the dollar . More on that in the moment. We are up for the fourth day on dollaryen. This is where you are seeing the dollar weakness come through against all of its peers this morning. Short. Yet fast money the yield on the tenure Government Bond year notes, core inflation on cpi rising. Take him pay in the average u. S. Production workers pocket is down for the fifth time in six months. Bond traders ar