Rising supplies in the u. S. And libya. Matt welcome to bloomberg daybreak europe. Our flagship mornings show here in london. Im standing in for manus cranny. Anna todays the day of the queens speech. The name is a little misleading, is not written by the queen, but its delivered by the queen. Is the first glimpse of the legislative agenda that is over the intended next two years by theresa may and her minority government. How many domestic policies does she need . The voting takes place next week. Lots to talk about but more broadly, we need to talk talk about whats been happening in china. Take us through some of the market action. Said there was muted reaction in the market today with chinas msci inclusion, but of course its been long suspected, they tried three times already and failed. Here you can see over the last year a runoff of investors piling into a share etfs before the decision. We talk a lot about buy the rumor, sell the news. Today it was by the rumor and save the news
Bloomberg daybreak europe. From hearing the city of london. Im anna edwards. Lets start by talking about oil. Its been very topical in the last 24 hours. Brent dropping below 45 of arrow, now in bear market territory. What does it do to all the Central Banks . Oilstocks are reliant on revenue. Lets talk about where we been on the inventory story. Too much oil seems to be the basic headline. We are stuck in his air market. Crude inventories slid last week , and thats what you see in the blue at the far side of this chart. But inventories remain above their fiveyear average. 100 Million Barrels above the fiveyear average and u. S. Production is at its highest level since 2015. Opec is aware of this, according to our grant. Consensus is difficult. Radar and at the risk you will see that it looks a little strange if youre expecting the oil story to be rid large across markets right now. Were expecting u. S. Markets to open pretty flat. If you look at the s p 500 energy index, the top perfo
From bloomberg asia. This is Bloomberg Markets. Asia market extending, u. S. , rashaad oil continuing its best winning streak of the year. China and russia say they are getting on famously and the u. S. Is warned about new negativity. Fits,d if the face use facial recognition to unlock the new iphone. Happened, it left a , a mood oflanned about a billion dollars traded, china Corporate Bonds and government Corporate Bonds. What has been happening in the last few years when it comes to the bond market, it seems to have been grinding to a halt in terms of that growth. This will hopefully get this a buit of a fill up. We may see that spread between china tenure Government Debt and 10 year treasuries, perhaps that narrowing. Is this something to watch out for . Haidi the key is really patience here. Give it a couple of months over the next year or so to heat up because ht we are about 30 minutes away from the open of china and hong kong. Sentiment is starting to pick up globally. That is g
Welcome to bloomberg daybreak europe, our flagship morning show in london. Im manus cranny. Breaking news coming in across the bloomberg, this time in regards to you. It is on the path to try to take over huntsman, and we have an activist investor which in part is run by keith meister. Iny have taken a 5. 13 baked , if you wonder about activism, this is the personification of it again. Clarion has noted the investment from cortex, they say that they have had regular contact and they are open to dialogue along with all other investors. This is an acknowledgment in regards to that investment, that morph than 5 holding. They say they are and regulatory discussion. Happy fourth of july. If you are having a late summer, good morning. Have a look at this, have we finally capitulated on the dollar, or have we over arched . I am talking about the hedge funds. They have decided that it is finally time. Arenet short positions negative, this is the First Time Since may,m this 2016. The bloomberg
Rishaad we are looking at Southeast Asian banks. A very competitive market out there. We have new entries to make it even more competitive. Have a look at this. This is a bloomberg chart. As jack ma changing lines of partnerships around the world. 450 Million People have limited access to Banking Services and, buying vying for core customers. We have seen how sales at alibaba have been going up exponentially. This will go up with other internet superstars out of china getting into the action. Absolutely. We are always still watching for that potential ipo, that crown jewel of alibaba. Look at the numbers compared to amazon prime day, we are expecting somewhere south of one billion. 18aw sales of almost billion last year for alibabas day. We are around 30 minutes from the open in hong kong and china. Janet yellens testimony to congress is on everyones mind. We are kicking off Earnings Seasons for the Second Quarter as well. Singapore, taiwan, and malaysia are coming on as well. Sophie t