United states and weak business in fixed investment. I sit at the time we should do modest limited adjustment to the fed funds rate. The other thing i was worried about is the curve was inverted and i felt it would be much better if we had an upwardly sloping curve. To me, the curve is a symptom that maybe our adjustments were about right it was not intended to solve these issues but intended to adjust policy in light of these issues. I think the curve being upwardly sloping tells me we are in the right place. Want to move on to the consumer because the fed is putting so much impact on the consumer. Beenl sales have decelerating. A november number was half of what the Consensus Forecast was. Our Bloomberg Economics team expected holiday sales to come in at a gain of 3. 4 , the second weakest of the cycle. What if your main engine of growth is starting to run out of gas . That weakbeen worried Business Investment and weak manufacturing would seep into other parts of the economy. We have
Energy is interesting because energy looks to be fairly red. Tried to stay independent. All in all, that is a positive industrials also being bought this morning. Move but now he is doing another not a very clear message coming from the sectors. What do we see in the movers . Move because he holds himself out of the election and that is the best he could do with the moment. No doubt we will see some moves our colleagues based on that. And we are getting gdp running that powell will need a figures out. Horror show to cut again. Third quarter gdp in spain is it your expectation that we do not get a recession, there is expanding 0. 4 . That matches the estimate but so no longer any need for rate you know gdp in spain is up 2 cuts . Momenti would say at the from a year earlier. There is no recession, the ,umbers do not sure recession. 4 as a month over month european thing. The way the americans do it is but he makes clear in his speech yearoveryear numbers. If something happens, that is n
Its anby aamamezing event that brings office and all over the country to nashville each fall to be with the thousands of readers and writers and book levers from around the region. And writers and booklovers from around the region. For those of us who enjoy being here the second weekend of october every year we are lucky its a free event. Thank you to a lot of the community support. Remember that the festival does depend on individual donations among other sources to remain free. Please take the time to donate what you can to help keep it free and any amount helps. Whatever amount you can spare. You can donate via the website, the app, or in person at the headquarters, tenant, throughout the weekend. And any amount is appreciated. Let me introduce the authors, kendra allen, the author of when you learn the alphabet. And janine the author of my time among the whites. Those are the books they will be talking about today. Kendra, i think you said you wanted to go first. Yes. What we will
Overshadowed by allegations of sexual assault. The Prime Minister denies those allegations. The u. S. Ways place down turnt, but asian stocks lower. The king of ipos, ab invevs Budweiser Brewing unit surges on its first day of trading in hong kong. Breaking the trend of lackluster debuts party debuts. We are 30 minutes from the start of european trading. Take a look first off at the treasuries trade in my terminal. This is a threeday chart. A big spike as investors are selling the debt. The question is, what does that mean . Are we looking at more of a risk on session now . If you look at futures, there is still a very mixed picture in terms of what we see happening in german futures. They are up a little bit. Dax futures are down a little bit. Really not a lot of indication as to the direction we are going to see. Up for moreing Political Action today as the conservative conference. Anna absolutely. Let us remember this has been an event that has moved markets. We have Seen Movement i
Investors wait for stimulus clues from the ecb accounts, as pmi data today is set to confirm further contraction for European Manufacturing. Fedsak with kansas city astor george today at jackson hole. Angela merkels 30 day challenge. The german chancellor gives Boris Johnson a month to find a brexit solution, though francis says a no deal is france says a no deal is most likely. If we approach this with sufficient patience and optimism, as i say, we can get this done. Silence onbreaks its the unrest in hong kong, as the city faces an earnings recession not seen since the financial crisis. Good morning and welcome to Bloomberg Markets european open. The threeday moves on the 10 year yield, just up and down, up and down. Yesterdays spike was after we got the minutes. At first it looked like they were not telling us much, then it was a little bit confusing. Markets still expect a cut. Now you have the yield going back down, as we await all of this pmi data in the u. S. Sorry, pmi data in