Production. Global bond meltdown. The bull market in bonds is ending with a bank. As global bonds suffered their worst slump last month. Investors look to dump their debt after donald trump won the election. Bracing for swings. It euro volatility is the highest since brexit. The European Central policy decision coming up next week. You have burned up 13 in just two days. Brent up 13 in just two days. The big surprise come iraq cutting 210,000 barrels of a day. As the focus in vienna moves from the deal into specifics. Marty schenker joins us now in london. What is the biggest question as traders wake up this morning . Firstly, you mentioned iraq. Iraq had been the biggest stumbling block. They have a quota again and they agreed to cut production. Many will be interesting to see if they are willing and able to do that. Secondly, russia. Russia pledging an actual cut of 300,000 barrels a day. One of the reasons we saw oil rally so strongly. Will russia really deliver . This never done an
I am mark barton in london. And i am Francine Lacqua, right here in rome. We have been in rome the last three days. When you look at the markets, they seem very calm. Be buying some of the bonds to keep that safety blanket in check. We will find out more on thursday, when i am sure mario draghi will be fielding a lot of questions about the political upheaval here. One thing i keep being told over and over is that investors burned by brexit are still burned by trump, but this time took the right positions. Timetable. Talk when will lindsay step down as Prime Minister . Francine at this point, we dont know. We know that the president met with the Prime Minister, matteo renzi. We understand they met twice yesterday, once in the morning and once in the evening, around 6 00, 7 00 p. M. The second meeting was quite long. It lasted an hour. Matteo renzi tendered his resignation, with the president saying, hold on. I need you to first pass this budget law. Means that failing passing of the law
Forecasts. The policy rate is unchanged. The central bank, in terms of Interest Rates, keeping them as they are, at 6. 25 . This is the dollar versus rupee. 57. 95, however at this point what is most significant is it has cut its 2017 Economic Growth forecast. We will get plenty more on that and market reactions, but first lets get to the first word news with nejra cehic. SharesCredit Suisse trading higher after the bank stepped off step up costcutting efforts. Down from an earlier goal of below 18 billion francs. The company lowered profit targets for its International Wealth management business and its asian division. German Industrial Production rose less than analysts forecast in october. Production, adjusted for seasonal swings, gain 0. 3 from the previous month, compared to a median estimate for a 0. 8 rise. It signals that europes largest economy took a slow start to the final quarter of the year. U. K. Prime minister has agreed to reveal more details of her plans for brexit, bu
Fund your health care. Thats just not the right thing to do. I deeply regret the fact that the cloture motion was denied i hope that cloture will be granted so we can approve v. A. Milcon and approve our response to zika. In terms of zika, i represent the c. D. C. , the centers for Disease Control in georgia, the Worlds Health care center. I was there two weeks ago for a briefing on the zika virus. There are montana than one million zika cases in latin america, there are zika cases in the caribbean, there are 150 in the United States of america. It attacks a pregnant mom, it attacks the child in the womb attack attacks the brain and the Central Nervous system causing terrible brain problems and deformities, something that we hope we can stop and prevent. But you cant do it if you dont fund the nations response and the 1. 1 billion in this motion that was denied today would go towards the zika response. The two real estate sponses we need to there are two responses we need to fund. Some
Integrate our mutual interest but also ensure it doesnt impede our flow of services across the border. When it comes to security, its pretty well embedded. Its intelligence sharing. Its drones. Its 20,000 customs and Border Protection agents. Security is fine, but i think one of the unsung relationships that has proven pretty valuable to both countries is the Sentry Program where we prescreen millions of prescreen individual mexican citizens coming b back and forth across e program, and the secure trade, where people agree to a certain compliance regimen from the manufacturer to the warehouse to the driver to the ultimate importer and they expedite the trade. From day one the relationship has been, okay, its in our mutual interests to preserve a secure border, to try to manage that risk as best we can, but lets do it in a way that doesnt impede this extraordinary trade relationship we have. So one other thing real quick. I got a threat matrix every day, every day. Five, six days a week