With the election less than two years away. Welcome to bloomberg surveillance. I am manus cranny in dubai. The Global Equity rally rolls on. The inexorable roller. We have some breaking data from the euro area. Pmi at 50. 5. The market had preliminary suggested a number of 50. 1. We saw the german numbers on Services Come in at 52. 5 from 50. 8. This roll up in the equity rally is marching on. One hundred billion euros for the recovery in europe. 1. Have a new date, november the politicization of the vaccine has never been more. That trumps any china rhetoric of building up their tech and chip ability. They are going to use the power of the atomic bomb, as they said, to get there. 10 year yields,. 66, back at the level that they were when jay powell spoke. The glaly re when jay powell spoke. The global rally rallies on. There is this reluctance by the bond market to reprice with the exuberance of stocks. Is it about the dollar or the euro . The euro has been dropping for three days. It
Quickly after the crisis, as u. S. Jobless claims could hit in even bigger number than last week. And daily fatalities continue to rise in spain and the u. K. , as france proposes an economic rescue fund. Lets get the markets. Sixttle weakness in asia, a percent drop for the s p 500 over the last two days. Futures are positive, though, up over 1 , and european futures pretty much unchanged. Its difficult to look at fundamentals, for where equities go. A lot of people looking at technicals, saying there is a range we could fall into in the next few weeks. Is10 the 10year yield steady, but if we see a renewed selloff in equities could more money move into treasuries . The bloomberg dollar index is steady today with yen weakness. Have we found a floor on oil . We are bouncing back a little above 21 a barrel for wti. Now, a classified u. S. Intelligence report seen by bloomberg says china conceal the extent of the coronavirus outbreak within the country. U. S. Officials suggest beijing int
A lead role like youve never seen before. Because of the mere 7 year of it to the ends justify the means. Putins witnesses starts december 13th on g. W. The Trump Administration succeeds in reducing the trade deficit french figures show the u. S. Is importing and exporting some of the trade war with china but it could be a bad sign for the economy. Also on the show after some serious shortcomings and if you use money off Money Laundering efforts like the block now stall an e. U. Wide regulatory authority. And online stickers can become big business in china but the government is not always sharing in the fun. Stuff. Business on the w m how you gonna get us welcome to the program the u. S. Trade deficit drops to its lowest level in nearly one and a half years in october according to the Commerce Department a trade bill fell 7. 6 percent to 47200000000. 00 as both imports and exports declined this could be a direct consequence of Donald Trumps america 1st policy which has seen several ta
Saudi aramco has completed the biggest share sale of all time its much awaited i. P. O. Raise 25600000000. 00 for just 1. 5 percent of the saudi oil producer is the company at a total of 1. 00 trillion dollars its short of crown Prince Mohammed bin salmonds target of 2 trillion but nevertheless confirms the ranko as the most valuable company in the world. Mainly relied on domestic and regional investors after there was limited interest from further afield. On that lets bring in ashutosh pun day we can understand bit more about this so 25600000000. 00 seems like an enormous amount of money is it in this context. Well not really if you as the saudi prince here remember he was definitely expecting to raise 100000000000. 00 from this offering now is just a quarter of that and evaluation as you mentioned 2 trillion dollars its 1. 7 trillion so definitely he would be a very happy man but if you asked the Global Traders they would say that its over prized they are betting the valuation any an
Social elect leaders that favor exiting the coalition with the cdu. Narrowing the lead, four of the five latest polls show the Uks Labour Party closing in on Boris Johnsons tories as President Trump visits britain for a nato summit. 7 30 in london and 8 30 in paris or berlin. 29 minutes from the start of the European Equity trade for monday morning and things look flat on the European Equity markets, but that is not necessarily the global picture overnight. U. S. Futures, looking a little more positive. Probably, we are reacting on the Positive Side of things to the data out of china, the manufacturing pmi coming in higher than estimates. That seems to be something that could lift equity markets in the United States later. Futures look more positive for the u. S. Lets get to the Asian Session and the gmm shows us where we are on asian equity markets on the far side of the screen. 4 , indonesia doing strongly and the russian market, not bad. A slight cleaning for the on equityrisk on mo