Perspective to know whether we should use the tool at all, and what magnitude of the tool we should apply. And in another exclusive, paul singer sees a Market Correction of 30 to 40 whenever the downturn comes. I have been expecting it is but theys epiphany, possibility of a significant market downturn. Nejra good morning from london. Lets get a check on the markets. Big day ahead of the g20. We look ahead to the meeting between trump and xi. We dont know what to expect at the moment. We saw gains in u. S. Equities. S p dead flat, but we are heading for the first weekly drop in Global Equities in four weeks, so that is something to note. In june, we have seen Global Equities rise 6 . The bloomberg dollar index is treading water, but it is headed for its biggest monthly decline in more than a year. Switched up the board and take a look at the pulse of risk in some of the other asset classes. Dollaryen, we are seeing the yen bid is a safe haven in, along with gold. While a little weaker.
Broadcom words pushes deeper into software. Nejra good morning. Just on 6 00 in london. Welcome to daybreak europe. Yields front and center. Drop in global yields, the 10year hitting another 2016 low. Below 2 . We had 195 on that treasury 10 year yield. We see u. S. Stocks hit another record high in yesterdays session. We have to think about the fact that we will have a holiday and markets closing early. Independence day tomorrow. Futures on the back foot ahead of that. The yen also bid. Concerns around Global Growth. Dollaryen. Lets take a look at the euro. This has been remarkably steady over the past couple of days. Tradingear bund yields 36 yesterday. We saw that btp twoyear yields drop into negative territory. How much does that say about italy or the hunt for yield globally . The 10year btb yield below the 190 and a. The euro spiked briefly in the sense in yesterday as we heard that the ecb may not become sintering be considering a rate cut. Gold on the front foot again. Above 14
Lets get a check in on the markets. European equities are pretty flat. The stoxx 600 struggling for direction. You heard and the headlines, three key things we heard. The dovish message from Jerome Powell reiterated and we got better than expected data in terms of retail sales and factory output, pushing the 10 year yield up. It also pushed the dollar higher and we hold on to those gains. The question as whether President Trump can have the weaker dollar at the same time as a strong economy. And can he have gains in stocks as the same time as a trade war continues . As you made those comments, the s p 500 took a hit, dropping for the first time in six sessions. Coming up, we speak to the oecd secretarygeneral. Dont miss that interview live. Lets get bloomberg first workers. Word news. The u. S. House voted to condemn comments from donald trump that are racist. Week, he tweeted for congresswoman should quote go back to where they came from. Trump says he is not racist and does not have
Decision to move the Central Bank Governor. It could undermine the regulators independence. Diluting the case for cuts. Asian stocks and u. S. Futures fly. Morgan stanley cuts its Global Equities allocation to the lowest in five years on concerns about elevated valuations and profit headwinds. New democracy problems. Greeces centerright party leader takes over as Prime Minister abe and am quite election victory, but will his as Prime Minister after his election victory. I have a strong mandate to deliver on my agenda. Which is an agenda to grow the economy, to create more jobs, but also to make sure that people feel safe again. Manus a warm welcome to bloomberg daybreak europe. Deutsche bank is the most read it has all changed. Read headlines coming through. There is an news ceo. Withp is named as ceo immediate effect. He was brought in to take over from the previous dealmaker. He is the new ceo, effective september 1, part of the longterm Succession Planning. What else can until you .
Leadership shakeup. Nejra welcome to daybreak europe. Just after 6 00 in london. Did powell deliver . The bond market seems to think so. We close tire on the s p 500 in yesterdays session. We are on the front foot with futures. We will get to that in todays session. Yield dipping below 2 for the First Time Since 2016. Down another four basis points. Curve flattening. The dollarr and weakened. Down for a three day. That following u. S. Yield lower. Gold jumping to a fiveyear high. Is it overboard . Uti firmly on the front foot. 44. Pot lets get a check on the markets in asia with Juliette Saly in singapore. Great to have you with us. The divergence between the bond and equity Market Reaction was intruding interesting in the u. S. I we seeing a similar thing in asia . Juliet bonds moving higher. Yes, yields are dropping here. Equities also moving higher. We have seen that big money going into gold, holding at its highest level since 2013. Gold miners in australia rally. Nikkei up. You ar