We are looking at currencies, strength coming through for the yuan. Dollar weakness is a big factor. Of the planthe back signed off or agreed to on 0. 1 . Us, the euro is up weaknessollar again, down 0. 2 . Hade is still value to be when it comes to chinas bonds, 2. 96 is the yield the. Is the yield. Gold is closing in on 1900 an its spot price. Future is pointing to 1900 in the near future. Il down 0. 7 demandweakness is a factor. Rishaad lets get some sense in all of this. Joining us is frank benzimra, head of asia equity strategy, societe generale. Thank you for joining us. How was your strategy evolving . The last couple of months europe become bullish on , and here politics is playing an Important Role in closing the gap in terms of undervaluation. In asia we have been reinforcing the view on hong kong liquidity. Our remaining strategy is on china. Is that all down to this Recovery Fund and what that presents in terms of a more united cents in europe and the eu itself . A relation
We will receive testimony from the secretary of the check treasury as required under title iv of the cares act congress has appropriated 3 trillion to protect to fight the pandemic and to stabilize the infrastructure of our economic system. A large portion of this funding is from the title iv of the cares act which has significant resources for loans and loan guarantees and other investments from the Federal Reserve with the emergency lending facilities in the states and municipalities and tribes. The title iv provided 454 billion as the infusion into the Stabilization Fund to support the emergency lending facilities that facilitated the qualities to support eligible businesses, states, local governments and tribes. And to be authorized under section 13 and to stabilize those markets but the Federal Reserve announced the establishment of the intent to establish to support the Financial Markets and businesses including some that are supported by the cares act. Last week other members of
Confidence vote, it has to be the first couple of days that parliament returns. Sort throughs another barrage of earnings reports. The large numbers are catching up. We are calling get the star worlds worse stumble. Ultimately, china and the u. S. Are aligned at the hit economically. I dont think the feds job is to make sure there is never a recession. It is all straight ahead on bloomberg best. Hello and welcome. This is bloomberg best. Lets start with a day by day look at the top headlines. After donald trump announced new tariffs on china last week, beijing bowed to retaliate and the response sent shockwaves through global markets. Stocks in the red this morning on the fears that the u. S. China trade war an fell after chinas yu below the seven per dollar level, the weakest in a decade. Meanwhile, china has state owned enterprises for american agricultural products. What is china trying to signal today . They are sending a message that they are going to up the ante when it comes to
Mario draghi said the bank may increase his stimulus. He says theyre still a risk of deflation in the euro area. That sent italian and spanish bond yields falling. Now at a record low. One of the most eloquent speakers of his time, at democrat made the case for the parties liberal wing. Former new york governor mario cuomo died yesterday, he was 82. He served as three terms as governor. His speech propelled him into the national spotlight. He was considered elected president ial candidate in 1988 and again in 1992. Each time, he refused to run. He bowed out as a plane was waiting to take them to New Hampshire into the primary in 1992. He died of Heart Failure just hours after his son andrew was warning for a second time as governor. Search teams still having our time fighting wreckage from the airasia jet. They will use sonar and ping or locators as a look for the flight recorders. So far, 16 bodies have been recovered. There are 10 foot waves and winds up to 40 knots and the search ar
You get a spirit prevent the next minutes or so i think were going to see a Ripple Effect through our economy and a lot of questions about whats the president s plan and hope to the chinese will come to the table and will be able to negotiate in good faith he makes his decisions and its. Just precipitous way that we dont really have a sense of here he said it was. Also coming up right up make sits stock markets debut there it fell on early trading maybe wall street had been reading the Research Just out that painted over as part of the problem rather than the solution when it comes to urban Traffic Congestion and drive us on top either. You know no money there at me to. Be getting over. You know everyone has really has agreed to write. Another day at a seeming pos in the trade dispute between the United States and china and another baron of tweets from the us president we have lost 500000000000. 00 a year for many years on crazy trade with china he tweeted no more is another terrorist