Surveillance. He was the two mario monti later. We are seeing that reverses to the earlier losses we saw. If you look at german stocks, they seem to be remaining lower. The dollar is little changed. Treasuries nudging higher. Lets get to the first world news. Here is sebastian salek. Mugabe failed to announce his resignation. The twist means he may face immediate impeachment hearings. He was expected to announce he was stepping down. Todays meeting with a command element has underscored collectivelyus to start processes that return our nation to normalcy. U. S. Senator Susan Collins has said the republican tax plan passed by the Senate Finance committee needs work. Thed if she can vote for measure as written, she said, quote, i have not reached that conclusion left. Republicans can afford to lose only two votes and still pass the bill. Ron johnson has artie said he cannot back the bill as written. Japans recovery remains on track with exports growing by double digits for four straight
Rishaad just about 30 minutes to go until we get going again for the hong kong session. Let us take a look at what has been happening. Has been a winning last day of trading for 2017. The highlights. Looking at 14 months, straight months of a global stock that is gaining. This is unprecedented. Let us go back to the dark days of 2008 when we had steep falls. In one month, 10 of the stocks declined. Since then, recovery taking place. 2009. D bag since the last 14 months has framed what has been going on. The hang seng up about 34 so far this year. Notwithstanding the gains we may be seeing in a little while. And that is when the session kicks off in about 29 minutes. Singapore and taiwan coming online as well. Let us go over to sophie and have another look at the markets. Grant sporre sophie let us take a look. The ringgit is heading for its best year since 2010. In 2017 following the rebound in oil prices. Is expected to test at a number three level. Singaporean stocks. The opening was
A positive upward momentum we had recently. Be one of the reasons we are seeing a pause. Stocks have gotten too overheated levels, according to several measures. One of them is the 14weak relative strength index. We have a chart of it here for the s p 500. Line,y, this of her red when this goes over that redline it indicate stocks are overbought. On the bottom you have a green line that indicates oversold typically. So we have a record level for this 14weak indicator. If you look at the 14day rsi come it shows the highest since 1971. Momentum indicators have gotten a little overheated, and that is something investors have been talking about. Individualk to the stocks, watching some of those financial earnings as they come to a close. Morgan stanley, which has been bouncing between gains and losses this morning is holding onto a gain of half of 1 as the companys Wealth Management fees climbed to a record, raised its target for return on equity. On the flipside, bny mellon reported inlin
That limit their liabilities tied to the satellite. The European Central bank with the change the narrative on the state of Economic Affairs across the continent. Speaking today at a conference frankfurt. It would to focus on the future. We want to strengthen the recovery. It is an extension. It is not about moving out, it is about the pairing for the next session. And as strong as possible when it comes. The link to the better, obviously, but we have to prepare for that. He also said that some economies in europe need Structural Reforms to make the Single Market work better. Global news, 24 hours a day, powered by more than 2,700 journalists and analysts in more than 120 countries. I am mark crumpton. This is bloomberg. It is noon in new york city. 5 p. M. In london, and 1 00 a. M. In hong kong. Markets. E to bloomberg your other top stories and around the world that we are following. U. S. Stocks in retrieval after hitting alltime highs on wednesday. Bonds are under pressure to as th
Coming down. They havees taken a hit. Accompanied this shift for stocks, or the seeming sentiment. Shift in the bond market as well. We see the 10 year old right 2 . Nd six point as we see some money flight out of stocks. We are seeing a similar situation with bonds. This is the net change in yield for the 5, 10 year yield. Andtwo has seen the biggest the past four months. We have seen that 86 point change there. It has been much more moderate for the longer end of the curve. Now the 10 year is picking up with those changes. Gettingd stocks back to the stoxx for a moment. It has gone on the downside today. Today. Trading it was one of the big winners last year. Merck is facing a potential classaction lawsuit contending they made a deal with the generic drug maker to delay competition for their cholesterol drug. Finally General Electric continuing their slide here as it has been battered over the past few days ill and the breakdown related to the Legacy Health insurance business. We are