I know this is all prebrexit vote, but then we also need to look at yields. Thats probably the story of the day. Tom absolutely extraordinary morning. What i find so telling, francine, is i can tell you, ive never seen a bloomberg screen like this. 2007, 2008, even september 11 of 2001, its an absolutely extraordinary environment. How fortunate we are to have jim bullard for the hour. Francine right. Were seeing record lows, so not a bloomberg screen, not any screen. Tom, well get back. Those yields and bonds shortly, but first, lets get straight to the bloomberg first word news. Francine, in the u. K. , the justice secretary will make his case today on why he should be the next Prime Minister. G next he torpedoed the leadership ambitions of his fellow brexit campaigner, Boris Johnson. Now gove has his sights set on the home secretary, the early favorite to lead the conservative party and the country. The Largest Oil Producer in western europe faces a strike at midnight. The government
From there in london. The markets appeared to be settling down and we are joined by outstanding guests today. Led by bill gates. He would join us to talk about biotech and drug pricing. Alix cromwell we be joining us more regulatory hurdles facing the banks. But first, we have a slight rally on the table for today. Jonathan features are firming up about. 2 and the ftse is an positive territory and raising all of the post brexit gains. He dax is up as well i want to talk about what is happening in other asset classes. Boris johnson does not run and cable jumps, the pound a stronger marginally. We will discuss why. 1. 52 . Unchanged at we are heading for the strongest quarter for crude since 2009. To wrap up all of the stories, lets go around the world and check in with our Bloomberg Team for indepth coverage of our top stories. Anna redwood is in london on the race to succeed Prime Minister cameron. Julie hyman in new york on the last day of the Second Quarter. Lets begin right here in
The u. S. 10 year is certainly very much the front end of the european really crossed and getting finland, germany, france, netherlands, belgium, some of the biggest moves you can see. Remember, these are standard deviations. You really dont ever see these kinds of colors. It is a huge move. The market is looking for safety. Platforms are being left to one side. So many big assets including sterling. We will talk to a lot of guests this morning. We try to get you an idea of what is going on. How did the smart money get it so wrong . Kramer from s p will join us later on. He told us that it was an automatic reaction of the smb would downgrade the u. K. We get his thoughts this morning. An ardent campaign to leave the eu will also join us. We will count you down to see where the market is going to open in 29 minutes time. We will be fascinated to see this move on the pound will take other asset class movements. Trying to get reaction from you as we have seen this leave the vote come thro
Matt yeah, i am actually going to try to pull off bunds, as i suspect you will see an impact. Not as much of an impact, but it could be that we are currently finished with trading. Right now, obviously, 5 00 here in london, 6 00 on the continent they do not open until 8 00 p. M. It looks like they have finished trading for now. For the day, a drop to negative 0. 145. Oliver we can scarlet we can track the yield on the 10year. It is at session lows, dipping to 1. 4612 percent. We are at session lows. However, you are looking at the s p. Oliver the s p got a little bit of a pop in the last 10 minutes. We are at a bit of a rally this morning, but you can see this kind of pop. This will potentially bring more loose money into the equation. We have seen that with fed funds going to zero following brexit. Were back to the situation where, guess what, maybe this is in a perverse way good for equity markets and good for people that want to see continued accommodation from Central Banks around
Anna a very warm welcome to countdown. I am anna edwards. It is just past 6 00 in the morning on this friday morning. Lets talk about what has been happening with sterling. We heard from mark carney at the bank of england in the latter part of the trading day yesterday, and we can see the effect that had on the pound, not the one highlighted in red. Yes, in fact, the one highlighted in red. There was little bit more stability coming through in the pound in the wake of the big falls we saw last friday. In the wake of that, weve seen a little bit of a recovery or stability in the pound, and that took another leg down as we heard mark carney speak. Saying, brexitr may prompt summer policy easing. Lets check out the msci asiapacific, a decent session the last couple sessions in asia, and today, up by about 0. 5 . Is this based around for bets, more stimulus coming through from the central bank . We will discuss that. Weve got silver in here, and that is up strongly, up 2. 4 , the biggest i