And lisa abramowicz, im jonathan ferro. Is one of the worst charts in the world. With the Stoxx Bank Index hitting a record low, you wonder where that folds into the system. Jonathan theres a line i remember from the former ecb president mario draghi, when he turned around and said rates have to be lower and out to be higher in the future. It was 2014. They just went negative. They are still there. Will we generate an economic recovery on the continent that leads to higher Interest Rates . The answer right now is not any soon. Tom bring up that chart. It is really an elegant chart. This is the thing that we were talking about. It is the xaxis of all of this. Whether it is the european back malaise pushing back 12 years, even 14 years, it is the duration of these agonies we have to focus on. Jonathan weve just never recovered. This week, the equity benchmark , the daxurt, germany since then, we are down, we are down almost 6 . Tom how do you measure the mystery of what is going on and w
A fairly strong currency move this week. Time now for global exchange. We bring you todays market moving news from all around the world. From hong kong to london, frankfurt and new york come our bloomberg voices are on the ground with this mornings top stories. In asia, the coronavirus continues to spread, with south africa reporting a surge in was also inand that south korea. Joining us is stephen engle. Give us the latest. Stephen you have another revision out of china as they get previously unreported cases out of five different prisons in three provinces. You have those supposedly isolated clusters adding to the total again. They revealed the numbers and then added more. In some cases, more than 200 ands in chengdu province another in hubei province. More provinces could report outbreaks as well in those supposedly isolated ecosystems like prisons. As well, we are seeing additional clusters in other parts of asia, not just china. You are seeing a surge in cases of another 52 in sou
Tom good morning, this is bloomberg daybreak europe, im Tom Mackenzie in london. Asian equities getting after softer than expected u. S. Jobs data revives bets the fed will cut rates this year. The Israeli Military asked some civilians in rafah to move out of the city as preparations for a Ground Invasion move forward, after israel closed a humanitarian crossing into gaza following a,s rocket attack. Xi jinping touches down in paris to begin a three nation european tour, as french president Emmanuel Macron seeks to reset ties with beijing. Lets check on these markets. U. S. Stocks ending last week higher with gains coming through friday. The nasdaq up more than 2 , the s p adding gains of a little over 1 , another big week in terms of the central bank story. The bank of england and their decision on thursday. Before that, the rba of australia coming through with their decision tuesday. Earnings in focus with disney out of the u. S. , ubs out of switzerland tomorrow. European futures in
Confirm that. ,onne this is daybreak asia live from bloombergs asian headquarters in hong kong. Ramy betty is out today, i am david ingles. This is the first major market open here in the asian pacific. Lots on the play. Talk the ecb. E to it seemed like it was all about inflation the first time around. It is just not there. We look ahead to mario draghi and taper talk. There is talk about when auto maxx will stop start. Were expecting to go into this trading session with the stark contrast between the boj and ecb. The adjustment you mentioned we saw in the bond markets and currency markets. And the euro. S the dollar is stronger. The euro back to levels of what yvonne 23 month highs, remarkable. The whipsaw, we have a chart. I have to show it off. Twoentioned about those year highs for the euro. We saw whipsaw after the statement came out. It went lower and ran back up as soon as mario draghi started speaking. As much as he wanted to keep that the discussion vague on the timing of tap
And welcome to power lunch, the bears are out today. The dow and s p 500 having their biggest oneday slide since the beginning of july. The s p 500 in fact falling below its 50day moving average for the first time in a month. Wall streets socalled fear index, the vix soaring hitting the high in five weeks gold meantime, hitting a twomonth high retail to blame. Macys is down 9 . Kohls and dillards also getting whacked. Jc penney being taken down here, brian. We begin with your money and investments. North korea, of course, grabbing all the headlines, but the defense stocks are mostly lower today and apple is the biggest drag on the dow. So is all the saber rattling really to blame . Live in washington with the latest on north korea, bob though at the nyc, bob, let us start with you how much are you hearing is north korea, is valuation, or maybe just a normal, healthy august pullback . You know, id say 75 is concerns about north korea, but we do have some High Expectations on the earning