Street warnings. Citigroup joins jpmorgan in slacking a downturn as Global Sentiment takes a hit. Manus are we all on our way to 2 . Its a most like a shakespearean drama. We cant turn back. 2. 75 . Ld retrace the we have priced ourselves on most oblivion on the probability of a rate cut. The didnt show up last night for the sevenyear option which could be the bond market sending the signal back to the market. A lousy bond auction was almost a welcome reprieve. James gorman says he will meet hard data, hard facts for the fed to move. Lets have a look at some of the other at risk markets. , 25 basis point cut on that market next week. The dollar is slipping this morning. They cut their target on the aussie to 65 from 70. You will see 1 by the end of the year. The dollar index, we are off of a fivemonth high. The risk is a major escalation. We could trip over ourselves between china and the u. S. Into a real escalation. That is the risk we must fend off. Nejra theres a fair amount of glo
that the spread of the particularly in the u.s. and coronavirus is slowing, especially in china. implications for policy. it is hard to predict the two investors basically at the back of their minds. saying that outcomes of the virus or how the economy can weather the trade will evolve or what will happen in the november elections virus. the u.s. 10 year yield is a good way to look at risk out there. , so we are trying to do fundamental work and have a currently at 1.63%. longer term view on what asset the new zealand dollar. it is currently up a touch after its classes and mary that with bottom-up work with companies central banks of the impact of the virus will actually be who have the best opportunity to short-lived. they did not project any rate generate cash flow over the shortest time. francine: does the virus change cuts. coming up later today, we will be speaking with the chief executive of ep. don t miss that interview on everything when it comes to the markets, or
which might make it more difficult to detect. certainly in bond markets you are seeing it in the 10 year e is at 172 across year 1.72. the s&p 500 down a third of a percent. the dow down even more. shreveport mcnamara coming out talking about coronavirus saying it s affecting mining cost and their outlook as well when it comes to travel in it out of china. the u.s. is pressing concern. , the worst earnings performer in the s&p 500 down after a poor earnings outlook. we will see how that is. sintra systems is the best performer on our earnings by. europe.ilar themes in the coronavirus front and center when it comes to market actions. we are seeing european stocks off session lows but still down by 6/10 of 1%. the mining sector is the loser and you can see why if you take a look at the right hand side. concern that what is happening in china right now may impact growth and that will therefore feed into demand. you ve got a single currency that softer. initially when christine
Stocks declining for a second day. A slump in chinese equities in a , which is why we might see exacerbated moves. More dovish than expected Federal Reserve. We had the minutes yesterday. We are getting pmi edit europe, better than expected. Better than expected if you look at services. Manufacturing also that are than expected. Manufacturing also better than expected. We are looking at a pretty strong economy. Au will get to europe in second. Eurodollar currently 118. 45. Coming up, we speak to alexander stubb. Brexit talk to him about and the eurozone. In the meantime, lets get to the bloomberg first word news. Democratsmany social are ready to start talks with Angela Merkel. Totin schulz is prepared offer her limited support for a full term. It is said he could back her in a minority government but not but would not offer another grand coalition. Philip hammonds budget has been welcomed by members of the conservative party, while stilla mays future is questionable. Some ball boy the
States, it is aired on the usa network there, the older generation may not be watching netflix as much as their children, nieces or nephews, they will have been inundated with a lot of clips from suits in the last couple of hours and over the next few days. It is a huge break for her. And over the next few days. It is a huge breakfor her. She had a typicaljobbing actress life in the United States, a lot of small roles, waiting and hoping for that big break to come along and for someone to realise what a talented actress she was, a dollop of luck that you needin she was, a dollop of luck that you need in a competitive industry. That came along a few years ago when she started doing suits, it was an immediate big hit, a lot of big audiences around the world. She just finished filming, we understand it has been reported, the seventh series of that. It is widely reported that she will now be leaving. Im sure that we will find out more about that later. She appeared in the early 2000 pull i