Of the table despite market expectations. Well talk Central Banks in the reason why hans is in frankfurt. Jpmorgan trading revenue dropped 20 this year amid the global rout. But the bank is gaining share in europe. Is this bad news for Deutsche Bank . We will talk about that during the next hour and a half. We are a half hour with the European Market open. Let me show you the fair value tech elation we have this mark. Fairly flat, i little bit of civility may creeping back into these assets after some fairly big days. You can see london just a little bit higher. Let me take you through some of the other assets you need to know about this morning. Pound thatg at a is back above1. 40 but has gone below that overnight. If youre on the bloomberg, go check it out. It is a great story but where economists see the pound going. Dollar yen continues to move. You could see in overextension of the fed doesnt hike. You could to the move all the way to 1. 05, what would that do to the japanese econ
Treaty between the eu and ukraine by a margin of 221. How will u. K. Politicians be up to make their case on brexit . Two big stories ticking around. I like the dimon line on this. Is to too many . We are about to hear from peter pratt as well. I also like this exit story related to what happened in the netherlands. Protest votes or something more significant . That is my question. Hans it is difficult to see whether there is a direct correlation between a process vote in the netherlands and a clear in her outvote in the u. K. One note on the jamie dimon letter, 50 pages. Couldnt he have waited for hours to incorporate the latest fed minutes . I wouldve asked for an extension. Whoever grated the paper, he shouldve asked for a to our extension. Thats whoever graded that paper whoever graded that paper, he shouldve asked for a 24hour extension. I trust the fed on that. I think that data is safe here safe. Maybe he edited. Maybe couldve edited the last minute. You think at his bit for spe
Starting with martin spencer, a bit of a bellwether for u. K. Retail. Talking about pretax profit. The company increased its profitability forecast. They have been cutting costs by buying more sales direct. This has been a challenge for martin spencer. This stock was called higher and is moving higher. Volkswagen is not coming in yet. This has been much lower. The company said that it found all the emissions readings for the first time in gasoline, petrol. Scandal that had centered on the diesel engines. One analyst said volkswagen is leaving us speechless. Ing, we got some mixed calls. It looks at the moment like it could be moving higher. The biggest dutch lender reporting a 14 rise. That was a beat for ing. And the eurodollar trade, you lower onhe euro moving the back of the dollar. Back to you. Jon we will bring you that data live throughout the morning. That is happening in the early part of the session. Here is what is happening in todays show. The volkswagen pile up. The scandal
Are these yield sufficient to bring demand in . Yesterday the 10 year Government Bond market auction has been in best to demand since 2011. Are these yields offering a proposition of value in a zero Interest Rate environment . It is a zero Interest Rate market in japan. U. S. Treasury yields are declining this morning. A busy equity market open. Equities are declining. The dax is 8 off of its highs of the year. Investors are taking money out of europe for the first time in 2015 according to bank of america. 1. 5 million, you may say is not enough a lot. Lets go into the dax and see what is driving and asked. Equities are a touch lower. Some individual names making headlines. Telefonica down. The orbiter, that was in line even though the net income was double the estimate. Itv, good report, second most shorted stock in the european broadcast space. It is up 23 for the year, it is the highest short position by the market since 29 2009. Salvatore ferragamo First Quarter sales you are seei
Announced google was launching a coronavirus testing website, implying a largescale operation. But the company now pushing back on those claims, saying the site is in its early stages, currently only rolling out in one state. The headline just in. Europes new hot zone. Spain set to go on virtual lockdown, as cases there spike towards 6,000. More than 1,500 new cases in a single day. With the virus continuing to take a devastating toll on italy. The big question tonight, are hospitals in the u. S. Prepared to fight this Global Pandemic . The stunning admission from a doctor on the front lines. And the show must go on. The broadway star recruiting young voices to help spread hope to a world on edge. And good evening. Thanks for joining us on this saturday. Im tom llamas. We begin tonight with the many breaking developments in the worldwide coronavirus emergency. President trump extending the travel ban with europe now including the uk and ireland. The w. H. O. Calling europe the center o