Talking more stimulus. Then you have the cable rate. A lot of extension for benefits and the u. K. The cable rate does not move. It is a consistently stronger dollar. Same thing for the gilt market in the u. K. As well. Crude also going nowhere. The real action is in the equity market. Lets dig into that top story in europe. U. K. Chancellor of the exchequer rishi sunak planning to rescue millions of jobs at the coronavirus threatens to derail the u. K. Economy. I know people are anxious and afraid and exhausted at the prospect of further restrictions on our economic and social freedom. For at least the next six months, the virus and restrictions are going to be a fact of our lives. I cannot save every business. I cannot save every job. No chancellor could. The government will directly support the wages of people in businesses to face depressed demand the option of keeping employees in a job on shorter hours rather than making them redundant these are radical interventions in the u. K.
How to taper without hitting prices . Polands president ial election is too close to call. We have the incumbent ahead by a thin margin. The result is seen as pivotal for the nations future ties with the European Union. Welcome to the European Market open. Matt is off this week, but just a month under an hour until the start of the trading day. European futures and u. S. Futures for you and both tell a similar story. European equity fund its pointing to the upside, u. S. Futures pointing to the upside. Between. 6 andp. 8 . Weve got u. S. Banks reporting, plenty of those coming through the week. Weve got a few Central Banks giving us their Interest Rate decisions, a little less likely to drive sentiment this week. Looking to the earnings season for any clues. Lets have a look at the gmm to see where weve been overnight through the Asian Session and any clues into the european session. Flying, chinese assets taking off despite caution in chinese papers. The japanese nikkei come also stro
The data in terms of the jobs 5. 3 million in may, up from four. 99 the previous month. This is very backward looking data. I dont think the market will pay much attention to it, but slightly or positive, slightly more jobs out there then maybe the market was anticipating. Really may data, Rearview Mirror stuff. We will be discussing Global Growth as well as what the countries can do to fix the fiscal stimulus and how to help unemployment coming up and about a halfhour. The stocks are losing the momentum of the last five days, so we are stuck in this range. In an interview in the financials times, a couple of and theere troubling, trajectory of the recovery will be bumpy or. We are watching this closely and trying to understand what is happening. Haefele. Ark mark, how do you understand what we are seeing in asset prices versus every economist morning we are looking at a w shaped, with a lot of risk as we head into the back half . Right. Ou are there is a lot to juggle. The story that
Up to the top of lafayette park, but really it is a nation that awaits the next step from the president. He was out tweeting in the vicinity of 12 00 midnight on general powell. We will talk about that today. It was an eventful weekend and it continues right into this monday. Francine thank you, tom. We will have more on that and now we will get straight to first word news in new york city with ritika gupta. Ritika the u. S. City hit the hardest by coronavirus starts to reopen today. New york city will allow construction and manufacturing at wholesale trade to start operating again. Rios Retail Stores can offer instore pickup. If all goes well, new york and reexpand the can expand the reopening in two weeks. Theggressive proposal from minneapolis city council. Majority of its members say they do this they support disbanding the city police department. That comes as the state launched an investigation following the death of george floyd. One city councilmember says she wants to end poli
Smartphone and office rewards for every visit to the gym. This is the dog your business im going to Office Welcome from today the European Central bank has a new boss Christine Legarde no stranger to International Finance the former head of the International Monetary fund now at the helm of one of the worlds most important Central Banks finds herself in a difficult situation many expect she will continue mario drugs cause of high liquidity and super low Interest Rates but that wont make everyone happy. The new head of the European Central bank hasnt given too much away about how she intends to proceed in her new job but she has given some indication of what she thinks the Institution Needs to do the zeevi needs to listen to understand markets need not be guided by market but it certainly needs to listen and understand but it also needs to listen and understand people because a currency is after all a public good that belongs to the people we can go it is widely expected to maintain the