Change. And its u. S. Jobs day. Could a lower Unemployment Rate upstage the pace of hiring . Welcoming its daybreak europe. He spoke in the rose garden. Its official, the u. S. Is set to pull out of the paris climate agreement. Lets go to s the bottom of the screen. China, the worlds number one polluter. China outpacing the United States of america by 40 . Flip it over and you begin to understand the ramifications of the United States pulling out of Climate Change. That eachount of co2 u. S. Individual emits in a year. 17 million tons versus ones chinese counterpart at 6. 65 million tons. The decries have come hard, fast and wide. The head of Goldman Sachs managed to put out his first tweet. Well talk more about the global reaction, the economic and the and does it matter to market . Thats the question we discuss. Global equities are rocking it out. Heyre at 10 . Manufacturing gauge in the United States of america threeyear high. Topix ripsghest, the getp, need a little more to the dol
We, of course, welcome those who will join us on cspan booktv in the future. For those watching online, youre welcome to send questions or comments simply emailing us at speaker heritage. Org and, of course, we will post the program on our heritage home page for your future reference as well. Welcoming our guest today and leading our program is dakota woods, Senior Research fellow in our center for national defense. Mr. Woods served in the u. S. Marine corps as well as in an assignment in the office of net assessment. Upon retirement, he helped organize the national bio surveillance integration system. For five years he served as senior fellow at the center for strategic and budget tear assessments budgetary assessments. Please join me in welcoming dakota wood. Dakota . [applause] thank you, jon. Its a real pleasure to have you all here, but to have dr. Crane all the way down from carlisle where he took the hyperloop, was that it . The fastest run hes ever made to d. C. , so were glad
Of failure. M it punches the most since november after the ceo quits. Anna welcome to bloomberg daybreak europe, our flagship morning show. I am anna edwards. Manus im manus cranny. The world deals with another terror attack in barcelona. That is the reality of the world we live in but also across the pond, the world deals with the reality of what is happening in the white house. It is a double punch for the market. The s p 500 is down 1. 5 , the second worst day this year. It has only swung 1 in three of the last six sessions. Are we dealing are we building up to more . Is what really unnerved the market yesterday. They report was set to go, denied by the white house. You have volatility rising. Rising but it is not doing what it has done historically which is drifting away after the events. Anna after terrorism in barcelona, not just in terms of white house agenda, but what does it do for the race to lead the fed as well . Lets get to the risk radar and show everyone where we are in
Anna very warm welcome to bloomberg daybreak. Rallied,e yuan has 2. 21 . The biggest weekly rally on record. What do you do when the dollar drops and you want to get control of your currency . Bit less thantle what the market expected. What we have for you this morning i want to bring you back to january of last year. Rateis when the borrowing ratcheted higher. They are squeezing. Is rising andrate the fixing rate is rising and the probability of the market taking the dollaryuan above 70 has dropped from 65 to 36 . Is a veryave here active Interventionist Movement by the pboc. Perhaps they are sending a message to donald trump. Anna china says they are doing some expectation management. Lookesting that when you back to january of last year and what this spike in overnight lead to,yuan deposits it led to a strengthening in the chinese currency over the next two months. Whether that will occur again we will see. Hasus bring it into what been happening overnight in the asian equities sess
Anna a very warm welcome. Our flagship morning show. Manus last week it was mexico in the sidelines of donald trump in the past 48 hours it is seven missions nations from the middle east. Uncertainty as to what that policy will be. Were seeing money come out of the dollar. Buy the dollar on any weakness you see, but you see the dollar broadly lower on the week you have economics will challenge politics. The bank of japan, bank of england, a great deal of ego playing out. It, the no doubt about latest vote from trump has raised the risk off in the markets. Anna in terms of unpredictably the policy, yes. Manus yes. Anna the tradeoffs they have had resulted in donald trump. Dollar. D about the the dollar index drives the point home, don. 2 . 80 week. Banksd meeting, central meeting, corporate earnings out in the u. S. Reflecting japan and australia, much of the region is closed but there is a downward bias to equity market in region. That is even being driven or spilling into the business