Who is responsible . The fed . Jeffrey lacker . Or the new governor of indias reserve bank . We are less than half an hour away from the European Equity market open. We will spin you through what weve got in terms of the equity market. Solid session yesterday. Lets see what the fair value points are. Londono stocks 650 looks like it is going to soften up a little bit. Lets move you on and show you what is happening around the world. Let me just fix what is happening. What we have got is a story of the markets yesterday at what we did get i want to throw your attention here into the commodities market. Gold is stabilizing. We will come back to that story a little bit later. Caroline, the store yesterday, gold has been driven by the european market. It is the bloomberg reporting on the taper from the ecb. Caroline bill gross said he even traded on it. He went for a short duration. Our people miss reading the brilliant story that is saying the overall ecb decides to start exiting quantita
Pulse. Live from bloombergs European Headquarters. Lets get straight some breaking news. To 51. 2. Falling the initial rating was 52. 1. They are pretty much in line with where economists were expecting them to be. Repressing them a touch on the back of this great bloomberg ecb scoop. Currencies from emerging markets falling. Monetary policies are turning commodmmodity of itive. The vixx index pretty much unchanged as well. Watch out for that amazing scoop out of frankfurt. Our team there led by paul gordon. It will to paul in just a couple of minutes. Lets get to the bloomberg first word news with nejra cehic. Told aecb officials bloomberg the bank will wind down bond purchases before ending its program. That may happen in temps in steps of 10 billion euros a month. The euro climbed to a threeyear mario draghi said qe will continue until next year. Frey good like says Jeffrey Goodlatte says it may help prompt central bankers to reconsider their approach. You cannot save you faltering
Im anna edwards. Manus and im manus cranny. Algorithms abound in the market, smashed down 6 at its worst point today, but that is nothing. On the brexit day, we dropped by over 8 . We dropped by 6 and saw it come back to a decline of 1 , standard deviation. There they are. This is one standard deviation, two standard deviations. Has dropped by approximately one and a half standard deviations. Goldman sachs says there has been a big psychological break. That break of 120 changes the dynamic. On one platform, it traded down to 113. 78. Hollandether francois had something to do with it during a very low volume period of trading, that is something to consider. Lets start the risk radar around the pound and show you how we are recovering. The pound was selling against a number of currencies, not just the dollar. We have recovered a bit, that we are still down 1. 5 against the u. S. Dollar into down by 1 against the euro. We have seen is essential move, or the Great British selloff. Manus th
Holding talks about its options including an Asset Management ipo. What will it take to restore confidence . And a spinoff, energy goes public, pricing at the top end of the range. In europes biggest ipo. We will be speaking to the company ceo. Isoline the ftse 100 higher. The outperform or because of the flash crash of the pound. Aversion to all about the Great British pound once again. Little bit talk a about what is going on with the fair value in what is happening with the pound. The pound having an impact around the world. And it will have an impact on the ftse. If there was ever a chart, there it is. The flash crash of the pound rippling around the world. You do not have the british pound sitting up your very often. Down by 1. 23 . That is where we are trading. Seeill be interesting to how this ripples around the world because of the performance. We will find out whether the ftse enters a bull market today. At the moment, fair value suggests not but we are getting close. Will we
Weve got a great show lined up for you today. At 9 30 we have our special Weekly Program brexit, what is next . Our panel will round up a dramatic week for the u. K. Next line the ftses rally. We bring you all of the political news as the country plants its exit. At desperate forget to all of that, lets take a quick check on what is happening. The big story is sterling today. It dropped more than 6 in two minutes. 12455 1. 2455. It did drop as low as 1. 18 41 and one point. The ftse 100 pointing higher, up. 5 . Still well above the 7000 mark. A lot of the gains in the ftse have the currency effect of a weaker sterling. By. 5 . X 600 down just to take a check on the 10 90r gilt yield, where at basis points there. Lets switch of the board and take a look at another essay class. The dollar up for a fifth day. Desk that its of the ahead of the jobs data we are getting out of the u. S. Later. The market beginning to price in that fed rate hike in december. We are seeing its longest rally si