Trauma in the asian equity markets. Chinas stocks extended their biggest twomonth tumble since 2008, amid growing concern that Government Intervention to prop up the market will fail. Slipped afteran Industrial Production unexpectedly fell in july. We have all the bases covered and will have the latest from hong kong and tokyo in just a moment. First, lets bring in mark barton. Mark, these markets show no sign of reprieve. Mark the worst month since may, 2012. Markets nd develop the developing market is the worst since may, 2012. You get the just. Gist. Ee world index is china is the epicenter of worry as investors are considering whether intervention will work. China is lumping 12. 5 after slumping 40 in july. What into the next, manus, happened at jackson hole probably the most important speech was that made by the feist german Stanley Fischer by the vice chairman Stanley Fischer. He proclaimed his faith that inflation is poised to move upward, and his remarks werent signaling an imp
The month over 12 lower as china injects over 140 billion yuan into the money markets. Berkshire hathaway has more than a 10 stake in phillips 66 despite the slide in crude prices. Hitting the motherlode, shares in any rally after the eni discovers the mediterraneans biggest gas field. Some numbers just hitting the tape. Eurozone, august inflation is unchanged from july. Cpi year on year, plus 0. 2 is what it is estimated for july. The core cpi year on year is plus 0. 9 which again is pretty much unchanged july, where it was. Plus 1 . Overall, the cpi number coming in fractionally ahead the same number for july. Lets look at the euro, 1. 12, thats what it was around the open, changed a little at trade but not significantly. Changing your attention to u. S. Futures. Last week was a week to remember for the bulls and the bears. Chinas move triggered a selloff in asian stocks. Suggesting a lower open by 1520 points. Nasdaq down 36. S p 500 down 19. Here in europe, reaction to inflation da
The month over 12 lower as china injects over 140 billion yuan into the money markets. Berkshire hathaway has more than a 10 stake in phillips 66 despite the slide in crude prices. Hitting the motherlode, shares in any rally after the eni discovers the mediterraneans biggest gas field. Some numbers just hitting the tape. Eurozone, august inflation is unchanged from july. Cpi year on year, plus 0. 2 is what it is estimated for july. The core cpi year on year is plus 0. 9 which again is pretty much unchanged july, where it was. Plus 1 . Overall, the cpi number coming in fractionally ahead the same number for july. Lets look at the euro, 1. 12, thats what it was around the open, changed a little at trade but not significantly. Changing your attention to u. S. Futures. Last week was a week to remember for the bulls and the bears. Chinas move triggered a selloff in asian stocks. Suggesting a lower open by 1520 points. Nasdaq down 36. S p 500 down 19. Here in europe, reaction to inflation da
Reserve not too worried about inflation. Dax up bying the almost one percentage point this morning. 0. 8 . Rly the cac 40 up by we are also seeing once again the euro playing a bit of hayes and trade. Clearly there is money moving into the europe and yen as well. We will hear from zen becker in asia. The correlation between the yen and the euro with the highest correlation since 2007. Both seen as an area where to put your cash when you want safety. Copper is lower and oil is lower up by 1. 3 . We are at 44. 5 at the moment. Glut butstill a supply more rigs coming online in the united states. The demand on the flipside doesnt look too great. Lets have a look at what is happening in terms of the bond markets playing out. Money going into germany and the united states. Meanwhile we are seeing borrowing costs rise a little bit and the daily check in on what is a very illiquid market and lastly, to check in on some of the big stories. Up. Have eddie coming the biggest find in the mediterra
Tenyearyearo yields around 2. We sit down with Warren Buffett at 11 30 this morning. Dow futures up making up for almost all of fridays losses after the jobs number. You heard on squawk on the street them calling the fed irresponsible but said the u. S. Is not poised for decline. The i think the u. S. Market is fairly valued, and i think the markets in europe, are several years behind the United States. Europe is a bit more interesting. We see japan with qe infinity being interesting. Thats a relative waiting. Would we expect europe to perform the u. S. And japan outperform . Probably. Had some other choice words for Mary Joe White on the up tick rule. Saying all the volatility were seeing with the swings is not the way its supposed to work, and says that rule should come back. Hes been critical for some time, also of lie frequency trading through the years and various market mechanisms. He has been a vocal critic of the infrastructure of the markets or the lack thereof, i guess, in so