Daybreak europe, our flagship morning show from london. Lets talk about what has been happening in the markets and what has not. Volatility has not been happening. Ive got this chart, volatility in fx markets. Swings, currencies remaining well below average. Of volatility is something we talked about with our guest on a number of occasions, and seems important to talk about, given we have seen from the g20, avoiding protectionism. Would there be a mention of trade . Will they produce the communique at all . Volatility still at fairly subdued levels, and this is out of the week where global stocks have had their best performance since january, and emerging markets have had their best performance since last summer. Lots to talk about. Lets put up the risk radar it show you where we are in the asian session. The bloomberg dollar index a little bit weaker. Some nervousness around that g20 story. Itsdollar heading for longest losing streak since the trump win, the yen hitting it strongest l
Down 1 10 of 1 on the s p 500. The euro is firmer. 250 on thestable at 10 year. Alix 100 Day Moving Average is down by 1 1 10 of 1 . Oil continuing its down slide, now off by only 1 , nine days out of the last 11. What a losing streak . Deutsche bank will issue a near 700 million new shares in an effort to raise 800 billion euros in capital. They will boost revenue after spending almost two years navigating legal protein cutting back risks. With us now is michael moore, finance reporter. Walk us through what we have. Weve got the pricing on the capital raise. It was in line with what most people were expecting, a 45 discount. Deutsche put out their annual report. Most of it is backwards looking into 2016 but they did have a 2017 outlook in the key take away their was the revenue being broadly flat. It is a negative given how bullish they were on the start of the year in trading. Jon it is an 8 billion euros share sale. But it has been offered at a deep discount of 35 . Banks typically
Good morning. This is bloomberg surveillance. I am Francine Lacqua in london. Show, we on todays speak to the head of g10 fx strategy at Merrill Lynch international, and the ceo and coast cio at shen of our financial group. At a financial group. Function and a message will come to me. It is monday morning, 9 00 in london. We are seeing a little bit of volatility, but nothing huge. Oil gaining. One i would like to keep an eye kospifter the costly slid this has to do with geopolitical concern lingering in korea. Weis extremely important keep an eye on what happens at the g7, where Foreign Ministers are showing up, and Rex Tillerson on wednesday heads to russia. It seems the world may be a little more uncertain than it was seven days ago. Lets get straight to the bloomberg first word news. Nejra barclays said its board will issue a formal written reprimand and make mythic and cuts to the ceos pay after he tried to identify a whistleblower in 2016. They say he made an error in not applying
Reported. We will talk about that plus a regulatory story. Significant slump in the price of iron ore. Will traders in london take the same position . Matt we are less than half an hour away from the european open. Take a look at futures. They are down not huge drops that we are seeing a quarter of a percent fall in the euro toxx 5050 euros futures. The futures coming mainly out of italy. Bondinteresting is the trade. Investors are seeking perceived safety of Government Debt in germany. I have a threeday chart. Yields as investors buy up the . Bt down to 0. 187 onemonthk at the view. Investors are looking for haven assets. Guy amazing, considering what we got yesterday, a real catalyst to take treasuries out of their range. We have seen some of the aussie data. It is a very volatile employment series. You have a lot of other factors. The peso continues to be on the move, that has been a standout story and the renminbi rising on what donald trump had to say that the chinese are not curr
Tip auction. It breaks even under 2 . Im interested in the demand and the yield that it goes for. And federal reserve, the governor Jerome Powell will be speakingen a panel on washington. And Michael Mckee interviews Robert Kaplan at 7 30 a. M. Eastern. Is going to be an exclusive interview. How do they square that . And that Balance Sheet. David that exciting base book. Jonathan i want to know what the rest of the week looks like. [laughter] lix it has them cringing. David ok. Bank regulations frames the news with preposals kicking around including bringing you back glass seeing toll free up banks in other ways. An exclusive interview with bloomberg, former chairman paul volker thought he thought it would be a bad idea. What i would oppose if they do that and thinking that the Investment Banking operation, trading operation is going to stay super vacation and regulation which is i assume may be the thrust of this. But that just doesnt fly and thats where we were. Nd thats what broke d