Legislation,extra extradition legislation saying it is dead. Deutsche bank shares slumped over 5 as danske bank flashes its profit forecast for the year. Manus welcome to daybreak europe. Time for a little defense. S p, lower. It is blackrock who leads the charge this morning, cutting their equity risk, changing cash balances. Go moderately defensive, the difference between blackrock and blackrocknley is likes u. S. Equities. They still want to be overweight u. S. Equities, so that is something to bear in mind. How much more bang for your fed back will you get . We will put that to the guest host this morning. Lets look at consequences of over ambition. Capital. Apple. The michigan what happened during the session, a downgrade coming through. Fundamental deterioration they are saying. They are worried about the iphone and in terms of analyst, they havent been this negative on apples 2004. Ratings on the stock, the most since 1997. The market is pricing in 87 basis points of a cut. Thre
Strength of the ways negotiations and the data reported on friday. That there is the expectation it will be hiking the key rate, the exit away from negative policy settings. What does it mean for purchase of etfs, that will be another question out of that session or out of that meeting, but here is the outlook we have in the session so far today. Japanese yen holding steady, but still weak around the 149 marker , and equities, you are continuing to see this place higher even though the definition boj has been something that has propelled japanese stocks. There are a lot in the market saying there are plenty of other factors and that is why investors were continue pilot into the market. Nikkei225 just one fraction under the 39,000 mark. Number economics, one of the economist highlighting perhaps the boj is not ready to like can they want to see more data to affirm their belief that we are starting to see strength in the japanese economy. Lets take a quick look at how korea is starting t
They are also making a further move into Wealth Management likewise,s really strong. Feeding through through europe is really nice, and taming one of its competitors. Benefiting from that stock, up by 1. 4 , kaylee. We have big stock movers. Two tech giants moving in very different directions. Amazon the big mover at 11 on the session. A Strong Revenue number. Andy jassy is slowing the pace of spending, so that is ending up a good day for that stock, but not a good day for apple. Down 3 after another quarterly revenue decline. The iphone is a point of weakness. Outlook not fostering confidence. The stock is feeling pressure. There has been a runup, substantially to the prints. It was up 40 year to date before yesterday, i believe. Then the other story is in the bond market. It was job stay in the United States. The Unemployment Rate is at three point 5 . Wage growth was unexpected. Downward pressure on treasury yields. The 10 year yield was at seven basis points. We were at four point
Welcome to daybreak asia, to you live from new york, sydney, and cutting down to the major market opens in asia. The top stories issue sops up ahead of the u. S. Holiday, traders looking at jobs reports and putting bets that the fed is near the end of the tightening cycle. Country garden said to have made a payment on a bond with a separate you on no. And softbank lining up biggest customers as Strategic Investors for their multibilliondollar chipmaker ipo. We are seeing some Downside Pressure today, but muted after the s p 500 saw its best week since june. We are in the Labor Day Holiday weekend in the u. S. , heading towards thin trading. What akin to friday it was interesting because u. S. Stocks rose but they faded after an initial rally as bond yields started climbing. We have a Strong Manufacturing number offsetting that optimism from the jobs data which showed more than of a controlled cooling which could perhaps lead to the fed pausing on its tightening again in september. We a
I am dani burger along sign jeb bush alongside jennifer zabasajja. Fresh data shows the Services Sector in china was as low as rates this year is in august. Bloomberg economics says china may never overtake the u. S. As the worlds biggest economy. Lying low. Philip lowe the governor of the rba these Interest Rates unchanged in his final meeting to warns that some further tightening your choir. May be required. Country garden avoids a default with lastminute payments on dollar bonds. Happy tuesday. It is great to be back on the show with you, jen. Jennifer it is great and thank you for having me. Dani you are a pro. You had the rains yesterday and everything was great but it should be a morning of relief. We have the u. S. Dollar bond payment from Country Garden and goldman seeing a lower chance of recession. Someone should tell the markets that though. Jennifer we should see whether or not the u. S. Will reflect that when they are back from Labor Day Holiday. Lets look at s p futures a