This is the stoxx 600. Investors cautious today before speeches i donald trump and janet yellen. Stoxx 600 down by 0. 2 . Dollarg down against the , falling against all its major peers after the times reported that Prime Minister theresa mays team is preparing for scotland to potentially call for an independence referendum in march. The french 10year yield is down to 89 basis points. Emmanuel macron opening up his biggest lead yet over Francois Fillon. Lets finish up with gold, down 0. 2 . Gold will head towards 1300 in as inflationmonths expectations pick up real Interest Rates turned negative. That is according to ubs wealth management. Lets get the bloomberg first word news. Nejra the London Stock Exchange said its 13 billion tie up with Deutsche Boerse is unlikely to proceed after a new regulatory hurdle signaled a potential end to the effort to create a dominant european exchange. Officials had requested that the nsc divest its Trading Platform, but the nsc said it couldnt commit
The Australian Election remains too close to call. Agency says the aaa status is threatened by the budget deficit. Us know what you think by following me on twitter. The china and hong kong markets are getting underway in 30 coming, but taiwan online right now. David money is getting out of risk assets. , investorsndex swaps are pessimistic, pricing in the first fed rate hike in march 2018. That could all change. Malaysia and singapore opening up now. Some markets shut today. Acrosseeing a selloff the asiapacific. Higher, gold at the highest level in two years. Have a look at how asia breaks down. The big losers are the mining stocks down 2 , carmakers down 3 . A lot of that comes down to the yen pushing towards 101. A lot of money coming back into the bond markets. Japan yields record low. All at record lows. The 20 year bond touching zero for the first time. Frome seeing some comments , flagging that the 20 year could fall below zero today. Charts, have a look at the hardest drop tod
Johnson joining us from our european headquarters. Headline number for me unchanged. Guy they will keep the they purchase facility are saying they do not have enough information to make a decision at this stage. Maybe at the beginning of august we may see a rate cut. Sterling has picked up on the back of that, no rise to see what is happening. We will have to wait a few more weeks before we get that decision. Everybody waiting to see what will happen. I do not know a reflection of whether they believe a rate cut will have zero impact on the u. K. Economy, or want to see the effect of the brexit referendum story will have. It a stronger pound, kneejerk reaction in the fx market, yields higher off the back of the 10 year gilt yields around 0. 7 . Is this to do with a lack of data . All we have is a confidence survey. A bit of data but not much. Sentiment about consumer there are not much indications that some businesses are delaying investment and hiring, some signs pretty brexit vote st
It is more that it is a resumption of the rally that we had seen originally when janet yellen gave her dovish message. Dissuaded from that view by the fed speakers in the interim who were more hawkish. The double stone is back again and even as alex points out we are not that much up across the board we should point out we are off the highs of the session for the three major averages as well. The two day rally for the major averages is relatively substantial. It began yesterday after we heard janet yellen speaking it in front of the Economic Club of new york. What we have seen is a gain of 1. 4 . On that basis, not anything to sort of ignore. It also means the s p is once again higher on the year. It also means we have seen the market cap recovery of the u. S. 1 trillion since february 11. If you add on todays gain another 200 billion or so. That is the size of the rebound we have seen. The old leader coming back in favor. The sang stocks, whatever you want to call it now. Alking about
Margo jefferson recalls growing up among the black elite in america, will haygood on Justice Thurgood marshall. Booktv. Org for a complete schedule, and a reminder to follow us on twitter, facebook and instagram for updates all weekend. Booktv, 48 hours of nonfiction books and authors. Television for serious readers. Now, we kick off the weekend with two authors in a mock trial from freedom fest, a libertarian conference. Robert kuttner defends the Federal Reserve, and Robert Murphy prosecutes it. Lisa kennedy montgomery, host of kennedy on fox business, acts as the judge. Hear ye, hear ye, freedom fest court is now in session for this trial about the most important subject of our lives, money. [laughter] and how the governments central bank, the Federal Reserve, influences our lives every day. Judge kennedy is presiding at this hearing. All rise [cheers and applause] lets hear it. Hello, everyone. How are you . Ladies and gentlemen, members of the jury, we are gathered here in this Gr