The u. S. Trading day. Julie hyman is tracking the allout from the surprisingly hawkish fed minutes yesterday. Julie but we are having a delayed reaction. Yesterday, stocks came down afterward but finished little changed. Also, as we hear from other fed members who have been making comments this morning, saving to support again that june is on the table, july could be on the table. , s p, and nasdaq are all trading lower, up off the lows to some extent today. Yet, when you look around at other markets, they are not necessarily supporting this narrative. You could look at the twoyear as well as the 10year, and yields are actually lower, which is not what people would take if. Nterest rates are going higher im looking at world bonds and twoyour notes around the globe. The u. S. And canada at the top. As you go down, that blue column, you see a lot of negative numbers, so you are not getting yield elsewhere. The yield still at least relatively by comparison looks attractive. Also look at
Of the morning. We will have the latest from the egyptian capital. So were less than 30 minutes now until the European Equity market opens. How do we think its shaping up . Negative. This is the impact of the fed minutes, rippling through asia and the effect in europe. Looks like we will get a negative start. There are duties in the market today, down by a tenths of 1 , on the fairx lower value calculation. Why . Let me show you. This is the work function crest go and you get a whole lot of other asset classes. This is whats happening on the work function, and what it is showing you is what was only a tiny fraction a few days back is now at 32 . The june selloff could be july because we have brexit in the referendum in june, but we will watch carefully how it works its way through to the market. Lets get you caught up among me you need to know what the bloomberg first word news. Haslinda an egyptair plane headed to cairo with 66 people on board has disappeared from the radar. It was op
We are getting breaking news. Eurozone pmi Manufacturing Service figures. A touchhanged at 53. 1, below estimates, but not by much. Manufacturing pmi fell to 51. 5, also lower than expected. We were expecting 51. 9. Remember, anything above 50 still means we are in expansion, however we are seeing a little bit more of a fall than was expected. This is the picture for eurodollar. Weve had a lot of currency moves, as a lot of central bankers were in japan. You can see eurodollar 112. 14. This is. European stocks falling. 19. E oil, 48 it data briefly sink below 48. Emergingmarket shares extending the rebound we saw on friday. I also want to show you bayer, making an unsolicited 62 billion allcash offer to acquire monsanto, as shareholders worry about overpaying and valuation. Lets get to the first word with nejra cehic. Nejra thanks. The u. S. Economy should be solid enough to merit an Interest Rate increase this year, and the central bank wont cave to political pressure to refrain from
Tom keene is in new york. We have this possible merger, then we have the brexit news, and the market. Tom we will focus on commodities in the pacific. Francine, i totally agree this one month mark off to brexit is front and center. Francine it is. A lot of people have decided, saying, why we are even voting for this . It means a whole conservative the government. Now lets get straight to the first word with shery ahn. A summary and has joined the hunt for the missing plane in the mediterranean, trying to find the egyptair jets voice and data recorder. A french tv channel reports that the pilot spoke to air Traffic Control about smoke in the cabin just before the plane disappeared off the radar screen. One ofnt obama has ended the last symbols of wartime animosity between vietnam and the u. S. In hanoi today, he lifted the embargo on the sale of weapons to vietnam, hoping to strengthen commercial insecurity ties. The u. S. Has confirmed that a u. S. Drone strike killed a leader of the t
Louis fed president. Said officials continuing to talk up a rate increase as early as june or july. A look at what it means for stocks from a top strategist. Desk head to the markets where julie hyman has the latest. The markets are lacking a clear direction today. Julie treading water is the phrase that comes to mind here. We are not seeing too much change whatsoever in the major averages right now. The s p 500 is betting unchanged on a percentage basis. The nasdaq gaining a little bit of traction as investors are following the perception about thated really emphasizing june is on the table for a rate increase. They are now awaiting a host of Economic Data coming out this week. They will have to wait for numbers on new home sales and durable goods. Take a look at the bloomberg for the groups on the move here. As you might expect, it is evenly divided between red and green on your screen at the moment. Materials gaining some traction, as is tech, which explains the outperformance of th