85 level and the u. S. Dollar index taking a breather for a minute in conjunction with yields. We will look at that ahead of powell. The twoyear year yield flat on the day about 469. We head for 73 earlier this morning. Tremendous volatility. In one week 15 basis point move from peak to trough. More of the bond selloff further down the iteration card with a two basis point move nearly three basis point at the 30 year and a 10 year at 437 other day about two basis points higher. Earlier today Raphael Bostic reiterated expectation for just one rate cut this year. Look how dramatically the market has changed since january. When the expectation was more than six cuts. Now it is moved to less than three. Sitting on a coin toss for summer rate cuts in and of itself. The market is diverging from the feds dot plot on how many we make it. As we await chair powell today that t. Rowe price cio says the biggest risk for the fed is cutting Interest Rates too soon. Putting for an Economic Perspectiv
I rarely read news articles on me. Even alter isaacsons book, i asked walter should i read the book and he said no so i did not read the book on myself. I actually dont quite know what the Public Perception is. Except that the nature of news is that it is going to be salacious. It is going to be somewhat of a caricature because the more crazy something sounds, the more clicks it will get. When you think about a news story about something you know well and say, how accurate is that new story about something you know well, i think you will find it is not very accurate to that is true for everything. There is sort of a desperate quest for clicks. The more crazy the headline is, the more clicks it will get. This is not to suggest there are not true things by the media. It is best thought of the medias best thought of as a click maximizing machine and not as a truth maximizing machine. I think it is best to look at the words someone says themselves as opposed to what is written about them.
Francine welcome to the pulse. I am francine lacqua. Manus i am manus cranny. Next 40 course of the minutes, we are joined by unicredit chief, it is erik nilsson in the house. Francine first, china stocks posted the biggest two day climb. Manus it rallied on news the government is considering shipping two major companies. Francine after data shows a large drop in it worse last month with the steepest decline in nearly six years. Curranef economist enda joins us. What do the figures tell us about economy . Enda curran a very soft reading. Some of chinas biggest customers. Illustrate how soft chinas economy is when you strip away the impact of the big stockmarket boom we had in the second quarter. Left with a lot of sluggish areas like manufacturing and factories and real estate sector. Car sales falling for the first time in 17 years. To one ofn on exports the big engines of growth for china. Into the second half of the year, pretty sluggish outlook right now. Manus lets talk about the
Point. 1 . Cac 40 pretty flat. Still waiting for the dax to open. Will we see a jump after the export data out of germany . We will take a look at some of the stocks we are watching this morning. A lot of Corporate News coming out today in europe starting with continental europes secondlargest tire maker. Thirdquarter profit grew 11 . Coming in at 1. 0 8 billion euros. What helped to this company was weaker Commodity Prices but also a weaker euro. And sort of a line with what michelob is saying. The biggest competitor. European a u. S. Car sales that helped it. Slowing demand in china. We will wait for that to move. Shares, we saw the jump in johannesburg, the biggest intraday gain since october on the back off the 407 million right off of the Company Previously warned that it was on the brink of collapse in and we could see thousand more job losses. And was of as much as 20 does not seem to be moving at high yet. Bhp, are we seeing a third day of the clients . The ceo is going to braz
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