The governor of texas warns of a massive outbreak. The imf adds to the gloom, further lowering its Growth Outlook, saying the pandemic will cause even more damage than first feared. Haidi that lead really playing into the downside we are expecting in the asian market session. Lets get it over to Sophie Kamaruddin in hong kong for a look at what we are expecting. Board, pulling up the asian futures pointing to losses of 1 or more amid the imf. Warnings of a deeper recession with japan and the Growth Outlook taking a hit. 1. 2 in theup by red this morning. A down day with trade disruptions back on the table alongside virus risks. Flipping the board, we are seeing bonds on the advance. Aussie tenure yields off by four basis points. Treasury futures to the upside after the overnight flattening we saw in cash yields as the bond market is signaling a more cautious outlook than we have seen in stocks. Check out the dollar extending gains against g10 peers with increasing u. S. Trade tensions
Eurozone. The german lender looks to fill its top job as soon as this week in a bid to end a shareholder revolt. 6 00 and in 6 00 a. M. In london. You have not had it so cheap for quite some time. Five year low in dollars. Record no in pounds. , thedity from my friends munificence of Central Banks is gushing in the form of liquidity. It goes back to the old story which is where do you find the velocity, where do we start riskon. He bonkers jp morgan, citigroup, look to the hinterlands of recovery. Good to see you again. Bita Goldman Sachs takes a of a different view in terms of the rest of the year but i still see some growth coming through in 2021. To jp morgans point, they are saying liquidity will lift stock and bond markets and that comes back to the conversation you and i have been having for so long in terms of our these two markets giving us different signals or is it all about the liquidity . Manus which is priced better . Moves they scrapped their bearish call on risk assets a
Chairman resigned cnbc sources say an internal replacement has been considered. Warren buffets Berkshire Hathaway makes a 10 billion bet on dominion in the first major deal since the on set of the outbreak markets in europe have been open for one hour. Now markets friday here in europe are a little bit soggy. Without the u. S. Direction but futures state side this morning marching higher. You can see the groan een on the board here todayment thats just over 1. 5 . We saw about 1. 75 on the overall bempnchmark but very sml gains for some of the markets. Look at that in the stock market and then geography and this morning the ftse is one of the better performers. Just over 2. 1 and so this has been real versus gains a lot for the French Market and german stocks in particular so its slightly outpacing the other markets. Youre saying almost 1. 9 on the French Market. Sprain has been strong from the outset 2. 6 higher. This has been one market that gained a lot of attention since the start
There would be governments to the rescue of fiscal underpinning to what is trying to be a recovery. You mentioned the important Goldman Sachs story, but clearly the markets are lifting here with a belief that governments will once more step in. Francine and there was a pretty incredible rally with shanghai stocks up 5 . Lets get to first word news in new york city with three. With ritika gupta. Ritika a coronavirus record. The seven day average of new cases reached another new high yesterday, and over the weekend florida and texas established daily records. The county the top county official in the houston area once more restrictions to contain the spread of the disease. The State Government has blocked her from doing more. Indiana has the thirdlargest number of coronavirus cases in has third india the Third Largest number of coronavirus cases in the world, surpassing russia. Theite implementing one of most expensive lucked out at the end of march. President trump sounds as though he i
Global one day record over the weekend. Expects a deeper contraction in the u. S. As the infection rate stateside rises to 2 , but equities prove immune to the bad news with chinese stocks leading gains. Wall street is playing catchup after fridays Independence Day holiday. Vacuum. The power Commerce Bank looks to fill its top jobs as soon as possible in a bid to end shareholder revolt led by activists investor cerberus. Germangetting right now factory orders up 10. 4 percent. Sounds like a big number, but of course, its from a low base and it misses the survey by a lot. The surveyed factory order, the expectations for factory orders soth over month were 15. 4 we only got 10 point 4 . Much better than the prior month s 26 drop and it looks like german factory orders and a lot of things may be in this coming quarter may have a similar feel as Goldman Sachs cuts its expectations for u. S. Gdp growth in the Third Quarter. Here, you see european futures, big gains. Your stock futures up 2.