Finance minister. President trump says Jerome Powell and his team dont have a clue. Haidi we saw shery we saw a downfall while the s p 500 was down. 2 of your declines on the s p 500. We have a very strong u. S. Jobs two hundred 24,000, beating expectations. That leading to traders curving back the fed rate cut expectations to the treasury yield, the 10year yield come at least 2 , and equity markets fall from highs. We see futures unchanged at the moment. Shaping upow we are for the asian markets. Could be looking at a riskoff session today with stocks already under pressure in wellington. Some we could see in tokyo. Futures are pointed higher. The Tech Industry navigating japan. The south korean president yesterday moved. 200 is set to lose points, but it is not too far off from the alltime high off of that mark. Checking in on the turkish lira, after falling as much as 3. 5 early in the asian session, we are going to see more action when money comes on long, facing backlash from pres
Alix peak accretion greater than 20 . Those are pretty staggering numbers. David they are paying a premium of 45 . Alix we are going to keep following this and what it means for other health care in a day other health care m a. In the markets, sb futures pause until the g20 s p futures pause until the g20. The dollar hit a threemonth low yesterday. 2 . Ds did dip below now we are back about that. Crude a little softer. It feels like a teeny bit of a risk off on the margins, but nothing extreme. David a lot to digest. Go to the morning brief. At 8 30 eastern, we get u. S. Newhome sales data for may. Throughout the day, we hear from a range of said speakers, starting with jay powell, williams, bostic, and parkland. Bullards thenpresident will be on Bloomberg Radio and a conversation with kathleen hays. The best treasury will be selling 4 billion in twoyear notes. At the bell, we will get fedex earnings. Lets turn to bloomberg first take. We are joined by mark cudmore and romaine bostick.
Today, and then he said he did not think they needed to do 50 basis points. That is one of the key questions wall street has had. How far do they go if they go on july 31 . Suggestions from jay powell suggest the center of the fed has not changed. They will closely monitor the data and act as appropriate, which is exactly what he said at his News Conference a week ago after the fed meeting. He said the economy is in pretty good shape, describes in the same way that he did with strong consumer spending, weak business spending, concerns about trade. Nothing new from powell in his remarks that would change the calculation. However, he will be taking questions from people at the council on Foreign Relations, so we may look for some elucidation there. Vonnie repeating again that the fed is weighing whether uncertainties call for using. Call for using. Call for easing. I was struck by what kathleen asked, bond buying in europe, and also japan. He made comparisons in some ways to both economi
Fed. David today is jobs day. Last night, july 4 celebrations, including in boston led by alix steel and carol massar. It does strike me as i talk to you over in europe that one of the really iconic moments is an overture written by a russian composer, tchaikovsky, about a european war in 1812. It is kind of ironic. Incidentally, i remember trying to play that. With all the cannons firing, very difficult. But i digress. Seeing the market may be not hoping for them many fireworks. Lets have a look at the data right now. S p futures pointing downward. European equity markets a little bit sluggish. The euro is a little weaker. German data came in disappointing. Yields on the u. S. 10 year around the 1. 96 level. Weve seen selling in stocks and bonds in the european morning. Ive put iron ore in the data check today, not oil, because we seem big drops in iron ore in the Asian Session once again. It has been dropping like a stone. Story ise iron ore really quite something this morning. It is
Yields are moving a little higher, six basis points on the german tenyear. Deutsche bank as well, starting to get the early look at what this story is going to look like over the weekend. We are waiting for Christian Sewings big news related to how hes going to change that bank. We are expecting a meeting sunday, but it now looks as though the eye bank the i bank head Garth Ritchie is going to be stepping aside. U. S. Employers added 224,000 casein june, diluting the for that fed rate cut in july. The jobless rate taking a little higher, but all in all a pretty positive number, or was it . Lets get some analysis now. In washington, we have michael mckee, bloombergs international correspondent. Your take on this number, and does it change the case for the fed . Michael i think theres a very good chance it changes the case for the fed. This is sort of the mirror image of the may number, revised down by 3000. Still a lousy month, but it wasnt that they were jobs lost in may. The there wer