You go to safety. Youre going to buy volatility, yields, bonds, and the dollar. 10 year yield now 75 basis quite a move from just a few days ago. Crude battered, beaten up today. Less demand for those oil prices. Guy absolutely. Lets recap where we are and what is going on. The german chancellor Angela Merkel currently meeting with heads of the german states. We are going to hear from her we think when that meeting wraps. We are probably likely to hear from her as well tomorrow morning. We are also getting Emmanuel Macron a little later on. Both countries moving toward more restrict of lockdowns. Lets get the latest. Maria tadeo joins us from brussels. Theres a lot of ideas floating around. None of this will be official until both Emmanuel Macron and Angela Merkel speak. The idea is we are moving into something that looks like a fulltime lockdown in the case of the french government, that we understand is seriously considering a onemonth lockdown that would start thursday night, going
Squash competition. All Companies Report today. An earnings onslaught in europe with results from big banks and oil. Standardto the ceos of charter, Credit Suisse, and shell. Welcome to daybreak europe. Lets get to that earnings onslaught. Credit suisse numbers broke a few minutes ago. Credit suisse is to create a Global Investment bank. We were reporting that Credit Suisse was planning to announce a Major Overhaul of the business. We learned that its creating a Global Investment bank, combining the chief risk and Compliance Officer roles as well. In terms of the numbers, net revenue beat the highest analyst estimate. Net income also beat the highest estimate. The provision for loan losses coming in at 296 million swiss francs. The estimate was 443. 9 million. Lower than what analysts were expecting. The common equity tier one ratio coming in better than expected, 12. 5 . The estimate was 11. 6. In terms of the Second Quarter net income number, it beat the height estimate. The estimate
[roll call] is commissioner safai present at this meeting . [roll call] we have a quorum. Thank you, madam secretary. Motion is awarded to vote whether to disclose discussions held in the San Francisco administrative code section 67. 1a. At this time i make a motion. Motion not disclosed. Ill second this. Moved and seconded. We will take Public Comment at this time. Madam secretary. Please open the phone lines. Members of the public who wish to provide Public Comment on this item should call 408 4189388. Access code 1467135208. Press pound and press pound again. If you havent already done so, please dial star 3 to lineup to speak. A system prompt will indicate you have raised your hand. Please wait until the system indicates you have been unmuted and you may begin your comments. Please state your name and make your comment. You will have the standard two minutes to provide your comments. Please let us know if there are any callers. Madam secretary, there are no callers. Thank you. Hear
Good evening, everyone. This is bloomberg surveillance. I am Francine Lacqua working from home. The focus on the World Health Organization, also on the easing of lockdown and oil. After that historic agreement on sunday between opecplus, now also involving europe, we have report. They say the oil storage filling up demand is dropping. That exceeds opec cuts. They are expecting oil demand to fall by a record 9. 3 billion Barrels Per Day year on year in 2020. Brent extending declines. The concern that a lot of markets are pursue Market Participants had is that if opec is cutting production, it also has to match demand. This is what the iea is saying. That demanded drop is exceeding opecplus cuts. It seems that despite the cuts, the iea is still expecting a glut or surplus. Lets get straight to the bloomberg first word news. Here is viviana hurtado. We begin with president donald trump. He is suspending u. S. Funding for the World Health Organization and reviewing its response to the coro
Here its a similar story in the u. S. , our high after going to the past 10 00, but within the s p, you still have the down names doing the best. Is the second best, it remains to be seen if there is any sort of substantial rally or just a rally within a bear market. You can see that reflected in other asset classes, 25 billion worth of supply coming online in just about two hours. Of the threeyear, it is doing continues to roll over today after yesterday. At the bestlding on performing within the s p as well. We will see as we head into the next few hours if we are able to hold on. Guy absolutely. The correlation between what were seeing around the market performance, people are certainly nervous about that relationship. U. K. , Boris Johnsons government is facing a serious challenge at the worst possible time in the virus outbreak. The Prime Minister hospitalized and the foreign minister under pressure to Solta Medical equipment shortages which are making headlines on a daily basis.