We did get japanese factory orders which were disappointing down 7. 8 in may they were expected to fall only 5 were down full 1. 5 as you can see in hong kong a little more than that in shanghai 2. 6 . European equities are lower, down around about 0 where do we look on the screens 0. 1 there we go, down 0. 2 in france, italy holding on to slight gains we did get some better than expected german Industrial Production data up 0. 3 in may. It was expected to fall slightly treasury yields back about 2 . Similarly the german yield is back above 0, negative 0. 4 and were up 0. 23 . Deutsche bank announcing it will pull out of Global Equity scales, scale back Investment Banking and slash 18,000 jobs as part of a Global Restructuring plan you have been following this story obviously throughout the weekend. And i thought your comments earlier with dom chu were interesting. You sort of term this as ripping the band aid off. Finally. Perhaps a little too late. Finally exactly. So 18,000 had cut
Trump and you jinping say they will meet at the next summit. At the u. S. President not softening the rhetoric. We are either going to have a good deal and a fair deal or we are not going to have a deal at all. The white house explored demoting jay powell. And iag puts in an order for 200 of boeings grounded jets. Theceo says get on board max tomorrow. More to talk about with regards to the aviation sector. Wax today, maybe we will find out about who is going to follow him. November inuntil office. We will hear from Jeanclaude Juncker. There is that horse trading going on in brussels. If it is not going to be a german, she is probably going to want to have a german in charge of the ecb. The dovishat change policy mario draghi wants to put in place . The key personnel decisions, crucial to where the central banking decisions go. We are not expected to go anywhere in a hurry. Similar to u. S. Futures, range bound, waiting for that big decision later on today. Get. Uidance we the statemen
On and of speculation about the financial strength of daunte your bank has pushed it shant prize to a record low of. The u. S. The u. S. Department of justice is seeking to impose a record fine on Deutsche Bank for misleading invest as. Weve been in the headlines last year as full a number of the wrong reasons and this didnt help the. Generalists have a. Traditionally been welcome here now were allowed in to ask all the questions we want but how honest will the answers be how endangered and how dangerous is this bank really. Visitors are greeted by a globe everyone is meant to get that Deutsche Bank is only german in name were a global bank well be speaking to bankers and Financial Experts and will be looking at the figures and asking about old burdens and new risks. And. This is the management floor on the thirty six story high above frankfurt you can see a long way from here from the top of the world down there looks pretty small. Bank has more than one hundred thousand employees in
This is what i am looking at, the 10 year yield. We are a little bit thin in terms of Economic Data this week, so a lot of focus will be on this mega auction sale. The first one kicks off today. That may actually hurt, or change the 10 year yield. Above 3 . About 3 600 the stoxx 600 basically unchanged. Coming up on bloomberg surveillance. , we talk the business of private jets with start up. We have an exclusive conversation with bp ceo bob dudley. Lets get straight to the bloomberg first word news. Isra the u. K. Government said to have plans to withhold billions of dollars if the eu does not give the u. K. The deal that they want. In a speech later today, brexit secretariat will reassure the European Union will not try to undercut the bloc by tearing up regulations. Signalhas sent a strong about her preferred successor as german chancellor by appointing a close ally. Critics on the right have called for more conservative policies as a way to win back voters. The unexcited move is a
Euro, and he is now accused of tearing it apart. Tom where will germany be monday morning . Brendan i do not see how this fails, but germany is talking about having a discussion with itself about the euro, and it is entirely possible that they may be ready to contemplate after some time what we have been talking about. Tom lets get to top headlines. Here is vonnie quinn. Vonnie thank you, tom. Lawmakers in germany are getting ready to vote now on the new greek bailout. The plan is expected to pass backed by the majority held in parliament by Angela Merkels party. The german chancellor spoke this morning in favor of the bailout. Angela merkel the dramatic events of the past days in europe cannot be overestimated. These days are dramatic, first and foremost, for the country that is the subject of our thoughts and consultations greece. Lets imagine for a moment what it would mean is at home in germany pensioners would be queuing in front of closed banks to wait for their weekly pension of