U. S. Took preemptive action in terms of export controls for the city. Yvonne the one thing the chief executive has said is u. S. Sanctions will not scare us. That is the latest response from carrie lam. Given what weve heard from the u. S. Recently when sanctioned chinese officials over the security law, and also now as you mentioned, paring back trading benefits that hong kong has enjoyed with the u. S. As well. The market seems to be overshadowed by better data. Pretty early when it comes to pmi data in china that came out at the top of the hour. It seems like at this point its really about the fundamentals more than the politics that is driving this rebound we are seeing in risk assets today. Look at the asiapacific benchmark, up 1 . Set for the best quarter since 2009. Still, asian stocks have not really recouped most of the losses we saw in the First Quarter, but certainly u. S. Futures pointing positive as well. The hang seng still up 194 points despite what we have been hearing
For the first time in three months. It has just gone 6 00 a. M. In london, 7 00 a. M. In paris, 9 00 a. M. In dubai. Who do you believe . Larry says there will be a 20 upsurge in the United States going into the second half of the year. Morgan stanley says we will have a short, sharp recession. A vshaped recovery on the way . It is reminiscent of the great brexit bubble that many people wrote about but never lived. Our next guest talks about risk on, risk off. We will talk about the markets in a moment. Did you have a good weekend . Nejra i did. We can go out shopping again to nonessential shops in the u. K. I personally will not be rushing out. Last week was definitely gay risk off week. Was definitely a risk off week. Andrew shaw thinks that investors should position as such, that stocks and credit will be marginally higher and tighter. Looking at cyclical and value stocks. Wells fargo and ing are among those also seeing the selloff as temporary. Read on the screen in asian equities.
Bayer is learns that in the process of selling the roundup lawsuit, up to 85,000 suits could be resolved. We are just under one hour away from the start of your cash trading day in europe. A much ameliorated session in terms of liquidity. European stocks futures little bit higher by. 8 . The narrative is clear. It is the easing of the locked down from australia to japan. Japan is expected to lift the state of emergency. That along with the north of italy having almost zero infection rate, the lowest since early march, really changes the narrative. What is the pathway to reopening europe . The dax is up. A oneoff emergency fund. The narrative has changed. Stop futures are higher around europe. To the german data. Let me bring it to you. The gdp for germany quarter on quarter, this is the final reading, by the way, collapses by 2. 2 in the quarter on quarter. The year on year down 2. 3 . What is interesting in regards to germany, there is the dax over 1 , bloomberg expects the economy to
Crudeng with oil, wti ps more than 100 to 1. 5 a barrel. Negative for the first time, june delivery contract, 21 a barrel. President trump says he will suspend immigration to the u. S. Over virus concerns as some states look to end the lockdown, plus u. S. Officials learned kim jongun was in Critical Condition following Cardiovascular Surgery last week. Washington is seeking clarity on the north Korean Leaders health. Just under an hour where from the start of cash equities trade. Lets look at futures after markets went negative with the plunging oil prices. You can see european futures now, down about 1. 5 to 2 . U. S. Futures, the cash trade close lower in new york yesterday so u. S. Futures are down a little less than european futures, but we are still seeing dow futures down two thirds of 1 . European equity markets on the oil price, some geopolitical news out of the korean peninsula, as well and perhaps a little focus on the data coming through. U. K. Data on joblessness coming th
Report tomorrow will be backwards looking and will include the worst of the coronavirus outbreak, but gives ead before the pandemic hit us. Romaine youre talking 13 billion shares swapping hands, well above the average, but in line with where we have been. The sectors prior, energy, utilities, consumer staples. You strip out a lot of the names and we would be more flat on the investorst looks like will take it anyway they can get it. Today, they will take it. Strength, the bloomberg dollar spot index moving higher by 0. 5 . Gains inespite some the currencies overseas. In the treasury market, a modest selloff, but 10 year yields 0. 62, but that is where it has been for some time. Backet lets bring Stephen Dover with Franklin Templeton in san mateo. One thing is dividends, we have sectors,anies, suspending or halt dividends. One group that isnt are the big citigroupdman sachs, Morgan Stanley confirming dividends. That is in contrast to banks in europe. How much does that give them a natu