We have politics to think about. What a combination we have for you this morning. The canadian loonie is under a depression this morning. Anna there is the Prime Ministers decadelong ball. Markets are interpreting this as a little bit of a negative. It is trading a little bit lower this morning. People are nervous around the fiscal picture. Does this mean more deficit spending . A very challenged economy. Guy a different take from what we look for in europe. This is the chart i love, though. They were having such a good day. This is the db adr. Then, we got this. Mid little crater afternoon, in the adr session. What i want to know is, 6 billion arms up in your hedge fund, what are you going to do with it . Assuming you have it for 24 hours. Answers are all trending on twitter. Back to the market. So much is happening currently in equity markets. Lets go to david in hong kong. David a very good morning to you guys. I can tell you none of that 6 billion appeared in equity markets in asia
Bear market so we are flirting with the bear market as did china today. Today orporate story it happened in france, it lt, thed with renau french carmaker. Aslier, they fell as much 23 . Thats the most since 1999. Offices were raided by government investigators as to part of the probe into vehicle admissions. Took the auto parts index with it. Almost half of those losses but the fear is we have another vw scandal on our hands. Betty as if we werent uncertain enough. Now here is another Troubling Development in the Auto Industry. Of your broader to one favorite topics, the bank of england. When are they going to hike Interest Rates . No one was expecting them to do it today. Mark how to make the bank of england meeting sexy. That is my aim. Today, he is citing outside risks to domestic costs and he says the recent depreciation in inflationmight push above target. Prospect of a lower drag on inflation, but the takeaway was this the confer,m outlook as we we have to say it is looking unli
Todays session. It is a day dominated by earnings. I want to bring up this magnificent shot highlighting the massive nature of todays Credit Suisse declines. Shares have plunged to their since 1992. Off goodwill, it setaside provisions for litigation, drop in trading deepened lawsons as its also is losses and accelerating its costcutting programs, including 4000 job cuts, citing a particularly challenging environment. What a big decline in credit suites shares today. But it is not a bank leading all the other banks lower. This is a swedish lender. Look at the increase on the intraday charts. The biggest rise in three and a half years. It reported profits that beat expectations and record low Interest Rates helping curb credit losses. Definitely a tale of two different banks. Super thursdayas with the bank of england and the big surprise out of that was . Who forn mccafferty, the last six months has voted for a rate hike decided to join the crowd. In interestge rates. Was significant. H
It has been a big week in terms of centralbank policy. We will talk much more about that. No incidents that the dollar had its worst week since 2009 and the miners had a twoday pop. Credit squeeze earnings, and unforgiving market punished the stock. Bnp paribas, you wonder what is going to happen at the open. We will talk about that much more. I am curious to know how the communication strategy is working right now. ,hy the analysts are so off particularly with the Banking Sector. Why are they being caught by surprise . Who is communicating well and who is not . Central banks, we need to bring into the conversation as well. Lets get you up to his. Here is caroline hyde. Caroline the u. S. Dollar heading for its worst week since 2009 as traders bet the Federal Reserve will hold Interest Rates unchanged this year because of a weaker Global Economy the the demand for Government Debt has sent japan 10year bond yields to a record low. Oil has slumped towards its first weekly decline since j
I am mark barton joined by manus cranny. Lets turn to all addicts. 200 lets turn to geopolitics. 280 russian trucks said to be filled with food and water are turned back from entering ukraine. The convoy left from moscow yesterday. It is getting closer to the border. The ukrainian say it is not carrying humanitarian aid. They believe it has military supplies inside. We do not know because we cannot verify it. It seems like an outlandish claim, but how do we know . ForInternational Committee the red cross seems to be getting cold feet on this socalled International Aid effort. At a listen. Have a listen. What we need to have is clarification regarding modalities, practical steps that need to be instituted before we launch and operation. There is a of concern about this convoy. I dont think i have heard so many World Leaders as gus one convoy. I heard the white house discuss how the ukrainians have a structure, a process in place so they can check the convoy. We have heard ukrainian say