Process. Carol and we hit the red carpet to celebrate the bloomberg 50. Our annual list of those that have measurable accomplishments. But first, the biggest ipo, saudi aramco. Shares surge to a market value of 2 trillion. At the peak. Carol a culmination of a fouryear effort from the kingdom. We are in wanted to talk about this. A lot of questions. Now it is publicly traded and it is an ipo but it is only a small there ine, 1. 5 is out the public in terms of the company. Reporter the ipo has not turned out the way they expected it to happen. Back to 2016er when the initially announced plans for the ipo, the plan was to sell shares of the company. What we really have to look at is what is the purpose of the ipo . It is seen as a means of diversifying saudi arabia away from its Oil Dependent economy, to raise money from International Investors and to deploy that on projects outside of the core energy industry. Theevaluation did valuation did not get close to what they wanted but it is a
Orecast indonesia decides later thursday while the boj starts a meeting. A straily markets have just open. Sophie, what are you seeing . Markets have just opened. Saw steepening for u. S. Bonds, pushing the u. S. 10year yield to a fiveweek high, and the kiwi dollar off about. 1 , reversing the earlier spike we saw on the back of new zealand hosting a faster than forecast gdp report on a quarterly basis, which may provide relief to the rbc. Nikkei Futures Holding steady. Were expecting a mixed session in asia as we have plenty of Rate Decisions on tap from indonesia, taiwan, hong kong, along with the boj meeting under japanese as we see stocks perhaps getting a little more love from investors, but not to be loved just yet. Investor view on japan is improving slightly with net 6 of global investors. Paul thanks for that. Lets check in on the first word news now with ritika gupta. Proposed budget for the next fiscal year will approach the equivalent of 1 trillion for a second straight yea
Members question the fcc chair about Digital Currency, shareholder protection and climate related financial disclosures. This is an hour and a half. Today we will receive testimony from security and Exchange Commission chairman regarding the work and agenda of the fcc. I thank you for your willingness to appear before the committee today and mr. Clean your willingness to testify the borrower side of the fcc. You ca came before this committa year ago and am sure dusty would continue to take steps to ensure the Capital Markets remained the deepest and most liquid in the world. I commend you and the staff for your actions taken over the past year. Actions worth mentioning include the final rule package on regulation best interest which is great as the appropriate balance in increasing transparency and investors relationships while preserving access to the advice relationships and investment products. They also propose modifying the accelerated definition to reduce the number of registered
An aussie market, had a lot of conviction yesterday. It look at some of the other and allrtainly sterling this, perhaps some doubts about brexit again, if there will be a hard brexit. There are reports Boris Johnson is planning to legally block the brexit transition from extending past january 2020. Have at the moment unnamed sources, but theres always the risk of these losses being clawed back later in the day. , they havego, yields gone up to 1. 88, we were just that one point 87. The hong kong dollar is something david will tell us about in just a little bit. We dont often see that, do we . It is the fed, but it does not mean you cannot make money. We are on the longest rally in five years. Trade. Ly incentivizing the head of asiapacific microstrategy at state street markets, great to see you. We are climbing over walls of worry. What is the other wall ahead of us . We have a few. As we come into the latter part year, iear into next actually see we are in for another strong period,
I thank you for your willingness to appear before the committee today and mr. Clean your willingness to testify the borrower side of the fcc. You ca came before this committa year ago and am sure dusty would continue to take steps to ensure the Capital Markets remained the deepest and most liquid in the world. I commend you and the staff for your actions taken over the past year. Actions worth mentioning include the final rule package on regulation best interest which is great as the appropriate balance in increasing transparency and investors relationships while preserving access to the advice relationships and investment products. They also propose modifying the accelerated definition to reduce the number of registered subject to the requirement. I encourage the commission to move forward quickly to all smaller recording companies. This summer they issued a concept release seeking Public Comment on ways to harmonize the Securities Offering exemption regarding the concept release i en