The chinese want their stock market to look good before they celebrate the defeat of the japanese in world war ii. More for that in a moment. Stocks in europe rising as well this morning. Up 2. 4 . And europe a poll released this morning could add one more reason for joe biden as he considers a run for the white house. Bidenrvey shows that pulls better nationally against the top three republican candidates than Hillary Clinton does. At the poll shows biden has a higher favorability rate and then clinton or bernie sanders. Republican candidate donald trump says he has plenty of enemies in the hedge fund crowd. One of his proposals on taxes. As to do with carried interest much of that money is taxed at a lower Capital Gains rate. Trump was asked about carried interest. Do you want to tax carried interest in the same way . I would take carried interest out and let people that are making hundreds of millions of dollars a year pay some tax because right now they are paying very little tax a
With the head of fixed income at the management you seen some stability over the last 12 months specifically since the start of 2016 when oil was very low. Middle east rates starting to get impacted, and you have the recovery as oil prices have stabilized. However, the big change and i think that is what we can talk about is middle east versus global because that is where the restoring the real story has been. Essentially you have a situation where if you would look at the spread on the jpmorgan middle east index and compare that to the fiveyear Energy Markets edx spread yousef we have done exactly that on the basis of your notes on the bloomberg, which compares and contrasts versus middle east credit. Tell me more about where this trend goes from here. Guest i think that is the interesting point. I think what we are going to see is probably middle east outperform global e. M. Over the next six months or so, see you are probably going to see that spread widens again. The basic reason f
We begin with our conversation with the head of fixed income Asset Management hussein. I think you have seen some stability it obviously in the last 12 months specifically , obviously because of the best particularly since 2016 when the oil was very low, and you had middle east begin to get impacted. However, the big change, and i think that is something we can talk about, middle east read versus global em. That is were the real story has been in the past 12 to 15th months, the way that i see it. You have had a situation where if you look at spread on about Jp Morgan Middle East index and you compare it with the fiveyear emerging markets cdx spread we have done exactly that on the basis of your notes. Btv 7042, compares and contrasts em versus middle east credit. Talk to me a little bit more about where the trend goes from here. I think that is the interesting point, i think what we will see as probably middle east outperforming global em over the next six months or so. You will probab
President delivering a speech on the economy. At 10 00, my favorite thing, universe Michigan Sentiment numbers, the soft data read. Because it is michigan, that is why it is your favorite . [laughter] therade at the top of agenda and late yesterday, the commerce secretary announced a trade deal with china, exports of everything from beads to liquid natural gas. Cirilli. S kevin we thought we were going to war with china and now we have cooperation. Gashis influence is natural , which is a bit of a concession in some regard from the Campaign Rhetoric of President Trump in that he is looking at this particular industry the coal industry may be snubbed but they feel this good help jobs. Beef and poultry is where things get interesting. The Iowa Governor is not been confirmed iv senate as the chinese ambassador, but driving the political policy point home. Secretary ross said this will be a 2. 5 billion net gain for the u. S. Economy as a result of that portion. The third point is where it
Alex markets are relatively calm. Jonathan and have been throughout the season. The ftse 100 down but about. 1 . The dbacks in frankfurt, germany, performing pretty solidly on the continent. Across the continent, the futures firmer by about five points. I went through the other boards for you. Dollar yen, 149. Close to breaking 100 as we did on june 24. Fourday losing streak. A much stronger japanese currency. Ahead of this jobs report, unchanged. 1. 39 is your yield. Alex no one really taking any big nothings the next hour and a half. Lets check in with our team of our top stories. Julie hyman is in washington counting down to the jobs report. Guy johnson in london with the pound heading for its third weekly decline. And javier with oil taking a big plunge. David a little less than 90 minutes, well have the jobs numbers. Julie is joining us from our washington bureau. What are we expecting . Whats the consensus on what the number might be . So the consensus right now of the economists