X are preparing to ditch the u. K. At least the republican senator say they will vote to block the current version of their partys health care bill. What does this mean for tax reform . This is bloomberg surveillance. Mario draghi will speak shortly. We also have all your currency checks. Ecks. First things first, lets check quickly on your stock market. Global stocks, mixed. Investors believing an appearance by janet yellen. She speaks in london later today. They are looking to her for a close on the outlook for President Trump says the Supreme Courts partial revival of the travel ban is a clear victory. People from six majority muslim countries will now be barred, unless they show a genuine relationship with a personal entity in the u. S. The court will consider in october whether the executive order is constitutional. Republican senators will look to block the latest version of the partys health care bill. A new estimate from the Congressional Budget Office found the bill would leav
A busy day in washington plus, the president is abroad, hes in paris for his third foreign trip were going to hear from him multiple times in the next few hour what retail pain target boosts its outlook as traffics improving. And a live and exclusive interview with the cbs chairman and ceo, Leslie Moonves in the next few minutes busy day on capitol hill fed chair yellen returns for a second day of testimony, later in this hour, this time before Senate Banking her comments on rates sparked the dows rally to that record high also this morning, Senate Republicans set to unveil their revised Health Care Bill, and the cbo will release its analysis of the president s fiscal 18 budget. Some questions about whether or not the House Freedom caucus is going to vote for this, unless there are specifics on Corporate Tax rates and more well, look, i still think that its interesting that the fed comes to capitol hill and the second comes were looking at the data, we may do this, do the right thing i
Brazil and russia. In twoe highest and years. Betty i am betty liu in new york where it is just after 7 00 p. M. Yvonne it is just after 7 00 a. M. Here in hong kong. It has been about the apple earnings. It was maybe a slow quarter before the new iphone, that we were going to see potential delays on that front. Betty it feels a little like deja vu. We have seen apple disappoint before on their numbers with investors for giving apple. There is certainly more tepid revenue numbers just in anticipation of the new devices, the new iphones to come. This one that is anticipated really has to deliver or justify the amazing stock rally we have seen an apple. Yvonne absolutely, i think it is 30 this year. Lets see how the rest of the markets will be. A little quiet on the d. C. Front. Here is how new zealand is faring. We just got the jobless rate 15 minutes ago, falling to 4. 8 . The reaction on the kiwi, we are down 6 10 of 1 ,. 7421 for the currency. We are seeing the post rba reaction. A l
Anna a very warm welcome to the program. This is our flagship europe show. Lets talk about what we heard from the fed and what that has done to the dollar. The the dollar the big beneficiary from what we heard from the fed. How the changing expectations from the fed around Interest Rates in 2017 have pushed up the dollar index. The rate went up 2. 75 percent as expected at the fed. The fed also signaling that the economy is strong and will improve and taking what some of our colleagues have called a victory lap. Lets put up the risk radar and on variousere we are asset classes. Weve seen reaction aplenty to what we heard from the fed yesterday. To reiterate what we heard about the dollar, this is the bloomberg u. S. Dollars stop index. What a of focusing on stronger u. S. Economy does to a Global Economy, the preoccupation is on what a strong dollar does to some of the corporate and others in emerging markets and focusing on the negatives there. Dropped to its lowest since march of 201
In play lower neutral straight. Neutral Interest Rate. It is something that can be estimated in retrospect and as we have increasingly realized, it has probably been trending down for a while now. Estimate of the longer run neutral rate come for instance, is one full percentage point lower than our estimate just three years ago. Thinking what is this discussion of esoteric mean to me. If you are a borrower, it means although the Interest Rates you pay on your auto loan or mortgage or credit card will they willep higher, probably not increase dramatically. Likewise, if you could inch higher after a a while, probably not by a lot. From savers who want higher rates. Fromnow beginning to hear buyers who want lower rates. Stronglyemphasize enough that we are not trying to help one of those groups at the expense of the other. We focused very much on the dual mandate i keep mentioning. We all benefit from plentiful jobs and stable prices, whether we are savers or borrowers and many of us of c