Take a look at the 10 year yield. Of most interest is the japanese yen. The dollar falling against the yen. 1. 10 two go from current levels. To believee reason that yen will continue to strengthen. The important piece is the top and bottom. The dollaryen coming off the top of that range, going below its 50 day, 200 day, hitting that 100 day, so buyers trying to support it, but the greater implication may be a move back towards this range. Investors are going towards the yen, it could suggest risk off, something to keep for sure. King dollar was the big narrative in 20192020. It might reverse. What does that mean for emerging markets . Emerging markets should see a bid going into 2020. This is a jp morgan emerging bond index, two straight months of inflows. We continue to see Asset Allocation outside the u. S. Into these markets as they play catch up following those trade tensions we saw last year. Thanks. Commodities joining that rally today. Im looking at cotton futures also up. Thes
Production capacity of chinas immense. The logistics capability of chinas superb and its hard to replicate that anywhere in the world. Nejra and her lagarde enter lagarde. The german deputy finance minister tells us there should be progress on a Banking Union by december. Think its a question whether we will have something definitively agreed in the next two or three weeks. I think the key thing is that there will be progress soon. We aim to see first results in december. Nejra new pickup line. Entice newooks to buyers as he unveils a cyber truck in los angeles. We are live from the event. Manus a warm welcome to beijing. We are wrapping up a couple of days of great conversation. For me, the defining moment was Henry Kissinger when he sat on that stage yesterday and said we are on the foothills of a new cold war. If things are left unchecked, this could be as bad as world war i. The phrase that really caught my mind was, this is a minor crisis but needs to be mastered. Those are the wo
Action was yesterday. 10 year yields going down the touch after yesterday selloff and yields rising yesterday the most since september. German tenyear yields continuing their assent. The selloff is the biggest since the end of june. Dollar gaining today against currencies stacking up ahead of the open. David lets find out whats happening with first word news. Emma in the u. K. , theresa may is facing questions from lawmakers in the latest eu moves on brexit. These are live pictures from the house of commons. The eu brexit negotiator says the transition will in in 2020 and says there will not be anaa la cart transition. President trump is on the verge of his first major victory in congress. Earlier today, the Senate Approved the biggest overhaul of the nations tax code. The bill must go back to the house for another vote. Budgetdemocrats invoked rules to remove minor provisions. It slashes the corporate rate from 35 to 21 . South korea made delay or with the u. S. Until after the olympi
At 53 basis points and well discuss. David . David time for an update whats making news in the business world. Good morning, emma. Emma 40 People Killed and dozens wounded this morning in the suicide bombing in the Afghan Capital of kabul. Explosions walked the center and afghan news organizations. Interior Ministry Spokesman said the exact number of attacker is unknown. Islamic state claimed attack. Bility for the in the u. S. Secretary of state Rex Tillerson written an oped defending u. S. Foreign policy under donald trump. He lauded the attack. In the president s move against north korea and Islamic State in his first year in office. Tillerson wrote, quote, in spite of the challenges i remain optimistic about the power of diplomacy to resolve conflict and advance american interests. President trump rejected reports earlier this month he was about to replace tillerson. Nd the u. S. Endured 15 weather related disasters costing 1 billion or more through the month of october. According
Mario draghi commits a trillion dollar qe plan. The ecb president did surprise market to some extent with his announcement of the ecbs version of qualitative easing. 60 billion euros a month in various kinds of purchases, in sovereign debt and assetbacked securities and covered bonds. The surprise came from the amount. There were reports it would be 50 million 50 billion euros a month. He said it would last until at least the end of september 2016. Depending on how effective it is. 80 of these purchases will be handled by the 19 National Central banks and they will be on the hook for some of their own losses. Investors did express a lot of confidence in his plan. One of them was the former chancellor current chancellor of the u. K. This is welcome action from the European Central bank. Action from a central bank is necessary but not sufficient for a european recovery. We want to see this a company by clear plans to make the continent more competitive to create jobs, to make sure our Pu