Helped ease overall price rises in many countries, but there are concerns that a jump in crude could once again stoke inflation. So, governments are seeking alternatives, while still trying to balance the short term need for oil. Those alternatives could also help tackle Climate Change and keep global temperature rises to 1. 5 degrees above pre industrial levels. Just last week, the International Energy agency renewed its assertion that no new gas and oil projects were needed if the world was to meet that goal. Opecs Secretary General told my colleague, sally bundock, that the group doesnt agree. We have always, at opec, talked about the concern we have for future under investments, as some have called for stopping investment in oil. We believe this is equally dangerous. This will lead to volatility in the future, possibly supply shortages. And therefore, we at opec have always advocated for the importance of continuing to invest in the oil industry, as we also invest in decarbonising
It is 8 00 a. M. Across the emirates. 4 00 a. M. In london if you are up early. This is Bloomberg Markets middle east. I am yousef gamal eldin. What a momentous two weeks we have had in the first of 2018 and bulls have been in charge again, Consumer Discretionary pushing up some of the industries. Of a p 500 up 7 10 percent, the eighth advance in nine sessions and the nasdaq showing strength. We saw a soft spot in some of the property stocks. The story. O year was we look into that trade. Rosengren says that this does not indicate a recession, is that the case . We have quite a bit of weakness. A key scene for the markets going into a fresh week. They are at their lowest since september and basically dropping against all of the g10 peers. That is feeding into other key Asset Classes, eurodollar up. The strongest in about three years at the news the Angela Merkel reached a preliminary agreement for a coalition government. Cable come up 1. 4 against the separate news flow here. And Offic
Lets get to the Global Market picture. Lets look at a start to the year which has been the best start to the s p since 2003. The first nine trading days of the year up 4. 2 on friday the dow was up 0. 9 the other two indices up 0. 7 . Week to date about 1. 5 to 2 of gains. This morning, as you can see, resoundingly positive start in the premarket. Dow up 271 points. The s p up just 14 the nasdaq up 38 very much the dow surging higher this morning tenyear treasury note for you which has been in focus, last week yields rose in lieu of international yields rising at the start of the week, but then gave up some of that gain towards the back half of last week were at 2. 53 we got very close to 2. 6 early part of last week. Look at the mood in asia the nikkei at a fresh 27year high, up 1 in todays trade hang seng closing actually at a record high, 31,904. Stocks there up 1. 8 the shanghai composite up 0. 8 south korea seeing gains of a similar amount the key Economic Data in asia will be chi
Opec the catalonian deadlock intensifies as the regions government moves to declare independence on monday i investors take a dim view of osram sending shares lower, as siemens sells its remaining stake at a discount of 1. 2 billion euros. Rex tillerson said he never considered resigning, but he does not as an nbc report that he called President Trump a moron. Good morning lets look at the european markets this morning looking at stocks across the continent. Slightly more red on the board there than green the stoxx 600 down 0. 15 right now. Looking across europe, the specific bourses, well look at the ftse 100 first, up almost 0. 25 . Dax down 0. 10 the cac flat the ftse mib down 0. 5 looking at specific sectors across europe, utilities looking positive as are autos. Telecoms are up a third of percent. Food and beverages up almost a third of a percent Real Estate Companies are down half of a percent. Now the big story, saudi Arabias King Salman arrived in moscow for talks with vladimir
Doesnt it . How long can stocks and bonds continue to go up together sh. Id say several more basis points out of the bond, judge. We have got low volatility, low inflation. Those are both helping stocks and bonds. The bonds of course are just running like crazy. There must be more shorts in this than in tesla, but down at 214, 212, where ever the ten year is, you could see it push to two. Perhaps under two. K is to bes are going to continue to go up. If its because of low volatility, then where he, and china saying they can see themselves buying more of the bonds again instead of stepping away from them like they allegedly has been doing over the past several months. Thats another thing thats you know, working against the bears on that trade. I dont know what it is. Rick, i mean, i dont know, is it worry about the agenda . Is it i dont know, ahead of comey . The economy . What is it. Why do bond yields continue to go lower. I think we can safely say it isnt comey. Running a memo b abou