There is our wonderful gmm function. Strikes stocks are rising today. Both currencies in the second column arising against the dollar today. The dollar rally is running out of steam. Stirling is lower today. I will come to that in a second. Bond yields are falling, you can see that in the third column. About talking a lot volatility. We are down to levels we havent seen 2014. These stocks futures are heading on swings in three months. Month, it has tumbled 31 . The contract on the gauge has fallen to 5 . The difference in performance is pushed futures to a record high versus the current measure, the onemonth measure. A lack of volatility, it is quite incredible in the last month or so. We have a big m a story. They are buying delta lloyd. There was an earlier offer for its national offer rival that was rejected. Bid,ay before the initial they are seeking to boost its scale and intention. The insurance sectors and the economy is looking in pretty good shape. Thehis is back in line over
There is a little bit more bullish than an hour ago on stocks. There is a lot of money going to havens. Tom the flow of news into this mornings call more. Is calmer. The fragility, within the United Kingdom and United States political scenes, Something Else to talk about today. Francine there is a second vote and we understand it will be a twoway race between Andrea Leadsom and theresa may. Lets get to the bloomberg first word news with nejra cehic. Nejra francine, exactly as you say, the race to succeed David Cameron is narrowed to two candidates today. Theresa may and Andrea Leadsom are the favorites. Conservative Party Lawmakers vote in the second round today. The two contenders will face the parties wider membership. The new leader will be selected by september 9. Germanys chancellor Angela Merkel says there can be no sustainable security in europe but without russia. Germany and its partners the agree an offer to have a dialogue. Merkel told lawmakers she plans to boost defense sp
Today, extraordinarily low volatility. Basically, a market that means nowhere and seems to be unchanged every day. Amanda it is inching higher. The s p 500 hit that intraday record. Scarlet maybe hitting is not the right word. Inching up. Amanda playing around with. Huge tech week. Amazon, apple that. Which had a rather good week, was a weight on the market. Basically flat to slightly sold off. A little profit taking. There is hewlettpackard, though. Report today, report only, that kkr and carlisle are considering a run at hp and that has the stock shooting higher. Speculative move up. We have no confirmation of that but the market is interested in the rumor. Joe lets take a quick look at u. S. Government bonds. Lower across the curve today. One of those days were equities rise and bonds and treasuries rise as well. Kind of the story for a while that we see equities and treasuries doing the same thing on the same day. Scarlet in terms of currency, we are focusing on the dollar this wee
Shanghai hanging in there. Higher by about half a percent. European equities, of course, this one often the last week or so has been the tale how we begin the trading day. Ftse might be down. Spain ibex down one and a quarter. Interestingly was in positive territory. 6522. It is higher than before britain voted to leave the eu. Take a look at crude, wti down about a 133. Natural gas has been rallying this year down about the same amount. I want to thank you for being here. Bern stooen was a merrill guy for quite a long time. Made quite a name for himself, but for him to come in here and be the guest host for an hour is really good for richard bern seen the advisers. I think it says you couldnt get anybody else. That may be true to some extent, but im thanking you. Its nice to see you. Im glad youre here. Im sure he didnt need to set his alarm. Couldnt wait to get here this morning. Chopping at the bit. I think either works. Cham champing or chomping. Its champing. 6 02. If youve never
The dow and s p essentially erased about 80 of the losses incured after the brexit vote of last thursday when the uk voted to leave the eu and bank of England Governor Mark carney hinted that more stimulus is coming. Listen. In my view, and im not prejudging the views of other independent members of the mpc, the Economic Outlook deteriorated and some Monetary Policy easing will likely be required over the summer. What selloff . A little quantitative cant take care of. Just wipe it all away with easy money. Hershey rejecting the 23 bid and hershey shares are still higher. The market seems to think mondelez comes back with another offer. Trading above where it was before they rejected the offer. Netflix known for keeping the ratings under wraps and nielsen says it has numbers for some of the streaming services most popular shows, including season premier of orange is the new black. Those details coming up. Hef hertz signed new deals with uber and lyft. The stock is down more than 20 this