Betterthanexpected chinese data, giving a lift to the market. It may have gotten a little bit better. Opec up 1. 7 . Of november manufacturing also ,oming out, that tmi figure indicating a contraction because its below 50 but better than the 46. 6 that was our preliminary preview. Coming up its merger monday, all things deals with the cohead of global m a a jp morgan. Lets get straight to the bloomberg first word news. Signaling they will consider deeper cuts ahead of the latest opec plus summit. This is despite the rest of the coalition showing reluctance to refuse output reduce output even further. The meeting in vienna starts in december the fifth. The Junior Coalition partner in the German Government electing a new leadership, throwing the government into crisis. Social democrats are bringing in a team that vocally opposes the alliance with chancellor Angela Merkel. The new leadership signaling it wont bring an abrupt end to the coalition and its more likely to put forward a set of
These are your markets. A bit of a move sideways for the europe stoxx 600. Mix the data across the world and mixed corporate earnings. If you look at the banking sector, it is one of the biggest gainers. We have a german manufacturing orders and Euro Area Services pmi for the month of october. Better than expected. Anything above 50 means expansion and we were expecting 51. 8. So look out for any movement on eurodollar and the u. S. 10 year yield. Coming up, we speak to the president of south africa. Come alk about s escom at a possible ratings downgrade. But first, lets get to bloomberg first word news. We begin with the impeachment inquiry for President Trump. The actions of Rudy Giuliani deeply unsettled to ukraine, outlining a quid quo pro. This is in exchange for investigating joe bidens son. Julienior ambassador said Rudy Giulianis role started as perplexing but quote became more insidious. The world has gone mad with free money according to ray dalio. He decried the current poli
Surveillance. I am Francine Lacqua in london. Here are your markets, you can see the stocks europe 600 is down. But nothing like some of the anxiousness we saw over the last couple of days. There is definitely a deescalation, so in certain parts of the world, there is relief in the markets. Im looking at eurodollar 1. 180. If you are looking at the yen, it is also a little bit off the anxiousness we see out there. This is the picture for the u. S. Yield, one of the main metrics we have been following closely. Look at the 30 year yield over the rest of the day. Coming up, a conversation with mike wells, chief executive of prudential. Lets get straight to a to bloomberg first word news. We begin with the German Economy, shrinking in the Second Quarter, piling pressure on Angela Merkel. Economyht, she said the was going through a difficult phase. From the previous three months, output fell and exports slumped as the trade war hit manufacturers. The italian Prime Minister has been called t
Data check. Stocks them to be advancing. Dollar, treasuries, both slipping. The dollar is edging lower and treasuries are rising as janet yellen said she will step down when her term ends in february. I also wanted to talk to you about the turkish lira, you can see it at the bottom of your screen. It hit a record low against the dollar. We will get plenty more on your market moves. Now, lets get straight to the bloomberg first word news. Sebastian u. S. President donald trump is designating north korea a state sponsor of terrorism. The regime to additional sanctions. North korea joins syria and the sedan on the u. S. Terrorist list. This will impose sanctions on north korea and related persons and supports hour maximum Pressure Campaign to isolate the murderous regime. Sebastian janet yellen has said she will step down from the board of governors wants her successor is sworn into office. It widens the scope for donald trump to shape the Central Bank Leadership for years to come. Jerome
The rally created a little bit of a left in european stocks. The dollar falling, weakening after janet yellen warned of rate increases. Of course, i am looking at the pound on the back of the budget and oil heading for its highest close in two years on extending output puts. We hvave a great show for you today on budget day. That conversation at 10 30 a. M. London time with normon l amot. Of a dodging the risk snap election. While merkel has publicly stated she is open to another vote, the president is to renew the partnership. Zimbabwe is waking up to the post mugabe era. There were to be let there scenes lastnt night. What will take over as the leader. A u. S. Navy aircraft carrying 11 crew and passengers has crashed into the sea. The seventh fleet was on route to the uss Ronald Reagan. They are conducting search and rescue operations. Because of the crash is currently not known. The outgoing chair of the Federal Reserve has cautioned that raising Interest Rates too quickly with infl