Will have a great chart coming up on this. Madame lagarde is worried more about big worried about more than economics. Francine this is something a lot of people, i dunno if they saw coming but certainly we should be more prepared, but your absolute right. Lets go into the data and i will have a liquidity chart in the moment. Down. Tures down futures down. All of this rocketing off the president s speech last night which was taken quite poorly by the markets. Onto the next screen with oil weaker. A couple of pretty good days. Down to a stronger yen, thats a safe haven play. Brazilian riel an example of emergingmarket stress. Francine today we have Christine Lagarde. See are all rallying, we oil sliding. I wanted to show you what im looking at in terms of the european boards. This was quite significantly because european stocks you can see individually the dax and all of them down some 5 . This is my more broader cross asset and i have to say everyone is talking about President Trumps r
Welcome. It is surveillance. Im manus cranny. Lets check on the markets. One view we have had dominating through the program is that inflation will recast itself during 2018. The market has the biggest long bets on bonds since 2004. We have got the three month yield here. That is driving the debt ceiling anxiety, shortterm investors demanding more. The bit to cover ratio, the highest stopover rate since 2008, and the lowest bid to cover ratio since january, 2009. But the asian equity markets and European Equity markets, rallying. Taking the cue from the commodity market. Copper is bid. Oil is bid. An overalleing move higher. Oil, we did make it above 60, i assure you. So, we traded post the close up at the highest levels since 201 5. We have the libya outage. Dont forget, we had the u. K. Outage a couple weeks ago and that spoke to market. This time it is libya, 100,000 barrels a day is a good be taken out of the supply chain as libya has an outage. More on that pipeline explosion a li