Half the stocks above their 200 day moving average. To 30 down about 20 depending on what you want to pick. Keep in mind the yom kippur holiday. Your 10 year yield. Taking up slightly. Not quite what i would call a huge selloff in treasuries but you are seeing some people reposition, some folks like citigroup saying this is more of a reset, more they correction until that bond rally resumes. Crude oil Holding Around the 53 level looking for the impetus out of the eia data. That seemed to be a negative but keep in mind a lot of the inventories actually went down way more than expected. A somewhat bullish signal. Most of the hedge fund very bearish lee positioned and take a look at the dollar. We can call this flat on the day. We are high on the dollar. , those we get a selloff Dollar Strength still in place dont let that fool you. Late stake you look at where we are in europe. That is the stoxx 600 over the last five days. We are getting a bit of a bounce today. But not by much and i wa
Could move the eurodollar. We also focused on the oil markets. Saudi arabia faces a daunting oil market surplus. Up, they hear from the former lng executive. He proposed a takeover offer by the Hong Kong Exchange and we will have plenty more on the corporate story. It broke about 24 hours ago. They will have a look at the exact response of the london Stock Exchange. Lets get straight to bloomberg first word news. Bloomberg has learned in a show of goodwill that china may resume u. S. Farm inputs. This comes as donald trump says he is postponing a 5 tariff increase by two weeks. The delay causes u. S. Levies on chinese imports at 25 . Sweeping cats from a no deal brexit. Chaos from a no deal brexit. The warnings outlined in a u. K. Government paper. The internal document is called operation yellow hammer. Ministers were forced to release it to comply with the deadline. Law intendeding a to prevent Boris Johnson from forcing through a no deal brexit but he says he is ready to do it anywa
I am nejra cehic in london, great to have you on the show today. This bank is raising its benchmark rate, 25 basis points to 1. 25 . Talking about the lost last hawk standing, nor just norge s saying they will likely hike again in 2019. It is, by the looks of it, a hawkish hike. You can see the reaction in the norwegian krone jumping. We have also had news from the philippines centralbank, keeping its key rate at 4. 5 . Lets take a look at the markets. We are still dealing with the fallout from Jerome Powells press conference. The bond market seems to take what he said well. In europe, were seeing equities on the front foot. Playing catchup because these markets closed. U. S. Equities gained. 3 . It was the defensives and bond proxies that led the game. It was a muted reaction but futures point to future gains. The 10 year yield down to basis points. Of course, we did a drop below it, hitting a 2016 low. Curve steepening yesterday, flattening today. The dollar down for a third day. Wil
Eurodollar, 1. 20 two. A lot of the conversations today will focus on the dollar. Im looking at gold for a second day, down a touch. Coming up on bloomberg surveillance, we talked doing business in italy and natural gas. Later on, we also speak with margaret from the World Economic forum. She joins us to talk global risks. Plus, janet henry talks trumps first year with us. She the global chief economist there. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra the u. S. Secretary of state offered a sobering assessment about the possibility of war with north korea. Madeillerson said advances the situation very tenuous. He was speaking in vancouver, where top diplomats gathered to explore new ways to enforce sanctions. North koreans know our channels are open, and they know where to find us. But a sustained cessation of threatening behavior is necessary indicator of whether the regime is truly ready to pursue a peaceful diplomatic resolution to the Security Threat it has
London. We have a little bit of data out of london. We understand by speaking to people familiar with the situation that goldman will review its commodities after the worst start in a decade. They are looking into why they were on the wrong side of a trade when it comes to oil and some of the other commodities. One of the commodities had to make a huge correction and lost three to four months. We will update you as soon as we have any more news. In the meantime, lets go straight to the data. I wanted to bring you the stoxx 600. They are rising in light trading. This was one of the longest winning streak of 2017. The dollar is strengthening after they were start to the year since 2006. The ruling party was defeated in tokyos elections and it is the first day of chinas bond link to the rest of the world. The yuan. 6. 7867. Lets get straight to the first word news. Reporter Philip Hammond will today use a speech organized by the confederation of british industry to tell Business Leaders t