Anna a very warm welcome to countdown. Manus where is the money flowing this morning . The pound has a bit of a reprieve. We will talk about that in the risk radar. I thought we would go for the shiny stuff, coming back from gold. And there is a real move here, of course in the headlines more funds shutter in the u. K. What you have is the assets, going into gold trading up one quarter of 1 . Etf Holdings Rise by 37 this year. The assets have jumped by 38 million tons, the most since the global crisis. We have entered a new bull run, according to ubs, we are with in a hair. Goldman is shifting the threemonth and sixmonth target. The risk momentum and the fed playing into the equation, all moving the dollar holding back. It is based on fact, not fiction. Anna very much about what the fed is going to say, manus, negative low rates good it seems. Punishing the risk radar, what else is on the move. We have a currency market dominating things this morning little bit. Quite a few in here, th
Manus i am manus cranny. Iraq get on board, business is coming. That is the message in the market. Maybe i am overly excited. Have a look at this. The morning of brexit, you and i were here, it was 5 00 a. M. Talking about the Demolition Derby happening. Here we go. This is the msci allworld. There is the brexit referendum, down she went. The msci as rally for a fourth day in a row, up 8 from the worst position. We have reapplied, redeliver to value, 3. 5 trillion whiteout is back on the agenda. Is a new record in 13 months. Stoxx 600 up 4 . There is no doubt about it. Fromthat midyear moment, that real sort of panic moment in the markets, you have this search. It is going to be ok. There is no playbook. It is called the lehman moment. Stimulus boots out there. Anna we will see how long that president atry price the moment. At the forecast, forecast in line. Lets have a look at the risk radar and show you various assets. The japanese story, the chief cabinet secretary denying that the
His workforce is the right size after thousands of job cuts. At this point in time, i think we are exactly where we should be. Have,e the environment we to face the forces that we have here it we have. Anna where less than a half hour away from european trading. Caroline, lets check in on where we are. Where had a strong session over in the u. S. The s p 500 that feeding through into the asian equities session. Strong waves coming through in the japanese market. The nikkei up by 2. 4 . The topics up by 2. 4 . Weakness in the japanese currency, one of those factors is driving the markets. We have the equity markets looking as if they will be weaker. Caroline, take us through the other markets. Caroline exactly as you were just telling us there. S p 500 hits record highs yesterday. The feature signals we could slightly gain on that record. Meanwhile youre talking about the asian session. Nikkei 225, this is as we see a significant weakening in the yen, down by. 5 . The other performer of
My words. Scarlet fu in london. We are thrilled to have scarlet fu. Reunited. To the music. A wonderful day to have the with us. So much to talk about about the United Kingdom. First word news, here is nejra cehic. Theresa may has promised to build a more just United Kingdom. That for brighton to feel their life has made insecure by globalization. Not by the interest of the privileged few, but by yours. We will do everything we can to give you more control over your lives. Ejra in one of her first actions, the architect of David Camerons austerity policy, she replaced him with Philip Hammond. She named her new break since our, david davis. Locked ter may mocked Boris Johnsons negotiating skills he has been named the foreign minister. He accused president obama of disliking the British Legacy because of his kenyan ancestry. The number of japanese living in japan phil are the most on record last year. At the same time, the number of foreigners rose. Unless japans birth rate increases, th
Live from bloombergs european headquarter. I am francine lacqua. A conservative Party Leader Theresa may repairs for government. To name her brexit we speak to black rocks Rupert Harrison pit we have some breaking news. Lets get straight to markets and see what oil is doing as the ia putting up reports saying there is records of oil supplies while the u. S. Output slumps. We had some rejection raise for how much demand for oil will factor in for the second half of the year. This is brent, 47. 74. This is just the latest from the oil markets. Overall, i wanted to talk to you about stocks and pound. The pound set for the longest rally in two months as theresa may takes office. We are seeing something strange. The european stoxx 600 seen a little bit of volatility. The stock has lost the momentum that it had in asia. Lets get to the bloomberg first word news with nejra cehic. Their mark carney begin twoweek pilot there today policy meet later. And are expected to cut that is the First Tim