Europe. The stoxx 600 utility sector is up by 1. 48 , outperforming significantly. 20. Ling pe, trailing pe on the auto sector. Cyclical sectors very undervalued at the moment. Utilities are getting a huge valuation attached to them. Lets move over and talk about this light volume session we are getting in the United States. Vol is trading lower, so the vix is down again. Continue to watch what is happening. Up. Tility continues to be earlier on, we saw a bit of a spike in the euro versus the dollar. And has subsequently faded, it is now trading down on the session. The bloomberg dollar index is pretty much flat on the session. Central banking a big part of all this. You had a lot of news over the last couple of days on this story from both sides of the atlantic relating to the ecb and the fed. Christine lagarde is set to become the first woman to run euro area Monetary Policy. Directoranaging nominated to replace mario draghi as head of the European Central bank. She will be taking ov
Slap the strongest fix ever, 1000 bits hired to stabilize the currency. Yet the currency is not looking at a gains even as we speak. It is also about the bond market rout happening globally, and we have seen in year yield surging 50 basis points in august alone, and when you surge the stocks go down. Msci asia index erasing some of the gains, up to its sixth straight day of losses. Benchmark and new zealand down. The benchmark and singapore also lower, and we have csi 300 index barely in positive territory. We have talks about how some companies are buying back their shares, not lifting sentiment as well. In the fx space, some green, aussie dollar up about what of 1 . You want yuan pretty flat. You have got to question, it is a weaker dollar story today, so how effective has of the yuan fix been . Take a look at where we are in terms of gold. Gold is up, oil surging beyond 80 per barrel. It begs the question what will that do for inflation and the fight against inflation . And terms of
Budget deficit of 3 of gdp which some say is uninspiring. The csi 300 index reversing earlier losses, now boosted after li qiang talked about plans for urbanization and regional development. Traders say while they are not many bright spots, what is important is that there are no scares. The benchmark is really low. Csi eking out gains so far, no abnormal etf trades, so perhaps the National Team is not in play. Hang seng index currently down 2. 5 , were keeping an eye on the nikkei 22, now below the 40,000 level. Our focus is on china premier li qiang presenting his work report to kickoff the npc with a growth target of 5 for the year. Lets listen. In setting these targets, we considered evolving dynamic at home and abroad, and other relevant factors. And it is not easy for us to realize these targets. We need policy support. And a joint effort from all. Haslinda chinese assets showing stability, csi 300 zero point 4 higher, the hang seng under pressure, the yuan 7. 2096, stable but sup
A very good morning, welcome to bloomberg daybreak australia. The top story this hour, australias reserve bank is expected to hold its key rates until the final meeting. China is expecting to hold people in default. And chevron begins mediation with workers at its lng plant as unions threaten strike as soon as this week. A lot to get to underway. We are keeping off a u. S. Holiday, that being said. Early indicators suggest the newest speeches are coming online as we speak and the focus on whats happening in the oil market. We are at 86. That being said, the quality of Risk Appetite for that stock given the volumes were streaming extremely thin. We close lower in europe. Make no mistake the vix suggest weve cascaded down in terms of price erasing all gains across the board. Europe is trading the 108 handle. We are moving into a session now. The adjusted earning, those earnings at five yuan. 11. The revenue no for the Second Quarter is 2 billion you and its worth watching in terms of the
The stock flood in asia, a curve when it comes to the selloff in tech, that was saw in the nasdaq 100. Even in futures trading, extending significant declines. We have seen tech names leading some of the losses across the world. We are seeing skittishness when it comes to currency trading and yen. It is past the key level of 150. We have concerns over where the rba goes, now that the inflation number, even as the rba governor says they will were not terribly surprised. We are seeing repricing when it comes to the expectations in the aussie dollar moves. David yeah. It looks like halloween. Or valentines day. These colors on your screens. Thailand is joining the fun. In fact, that specific market, we have just gone in one direction. We are effectively at 2. 5 year lows on the set index. We are 19,000, nifty futures opening up in a couple of hours. Thailand. The broad pay point pain point. We will talk more about that in a moment. Now just a pivot away and look at the trading session in