Will come down. But no, i cannot see the market roaring ahead. Anna a very warm welcome to countdown. Im anna edwards. Manus and im manus cranny. We are back together ratesa, they leave unchanged. This will be the perennial issue for global Central Banks. The effect of the brexit vote on the Global Economy remains to be seen. Will they move . Would they really want to do that in the face of so much uncertainty . It will certainly be about the pound. Anna we will see what this means for the aussi dollar into the future. We have this great chart, the 100 year story about the story of the pound. The 10 drop we have seen since june 23, just another letdown, manus, in the u. K. s declining global role and influence. Manus weve got to balance this out because boris johnson, hugh gone into the sunset now. Johnson, he has gone into the sunset now. In 1949 and 1967. So, the quest you have got to ask yourself is. Cents below its average since 1971. I redone with the great demise of the British E
Julie i selloff after the weekly gain or the biggest of the year thus far. Great to see you. Already said my hellos off air, but we can say our on air hellos. Welcome back to the United States of america where stocks are selling off. Ons look at what is going with the major averages. We are near the lows of the session. The nasdaq has been leading the decline. I was checking volume, 5 below the 20day average in the s p 500 coming off of the holiday weekend. You will see that there were a couple of small attempts made at a recovery, but then it legs downward, bumping along the low. Groupshe cyclical leading the decline, energy is the worst performer. If you look at the bloomberg, Energy Shares are leading declines down more than 2 . Stocks, tobacco stocks, for example, are doing better. Pepsi is helping to mitigate the losses as people rotate into what they see as more economically resistant. We see the buying of treasuries. That means record low yields. The 10year yield going down to t
Us here on set for a talk about the boe, brexit, and his outlook for global rates continuing to grind lower. Global strategist will join us with his outlook for european banks in the second half of 2016. Again, the story is global yields. Jonathan record lows and its a remarkable story that we will continue to talk about. Lets check in with a Bloomberg Team with indepth coverage of our top stories. Guy johnson joins us on the bank of englands News Conference in the last 90 minutes or so. And the latest on the votes of the uks next Prime Minister. And if possible capital injection into italian financials. In new york, the latest on treasury rates hitting new record lows. Paul allen joins us on this weekends election. I want to bring in guy johnson the bank of englands new policy response. The significance . Guy he is essentially signaling a recession and this is giving the tools by the chancellor and he is now putting that into reverse. Saying tougher times are ahead for the k economy.
In london with tom keene in new york. The pound dropping to a 31 year low and we are back at levels we saw post brexit. Workwe begin the fourday week after your one Day Work Week yesterday. Arkets really moving yesterday the italian banks are front and center, arent they . Francine they are important because there is a feeling among certain investors this could be one thing that breaks the eurozone, not brexit but the fact the italian banks cannot find a solution. Lets get straight to the bloomberg first word news. Nejra in the u. K. The conservative party takes the next step toward electing the next Prime Minister. All 330 Parliament Party members will vote on one of five contenders. Energy minister Andrea Leadsom is in the lead. Grassroots conservatives will pick the leader once the field has been whittled down. Been rocked bys three terrorist attacks in one day. A suicide bomber blew himself up near the prophet mosque. Five security people were killed , and there was another attack
To place all of this volatility in perspective. We see is a flight to quality. We are in for a very long negotiation. That is what the markets are afraid of. Matt bloomberg best is straight ahead. Matt hello and welcome. Im matt miller. This is bloomberg best, your weekly review of the most important Business News, analysis and interviews from Bloomberg Television around the world. Lets begin with a day by day look at the top headlines. Monday sought more potential monday sought more potential saw more potential fallout from britains vote to leave the European Union. A little over a week after the u. K. Voted to leave, francis france is pushing ahead with the claim for the city of londons euro clearing business. They have laid out why he thinks paris is the new natural home for the operation. You have france in terms of organization. I think we have much more players now in paris. And much more deep marketplace interest. He seemed confidence that france could get its piece of the u. K.