The dow has been up seven sessions in a row. S p is up six out of the last seven sessions you are talking the highest closes since late july overnight in asia, the sang high deposit was closed for a public holiday. The hang seng up almost 1 in europe, it looks like now most of those markets are in the green, one exception is the ftse down by about. 1 . If you check out treasury yields in the united states, another big story is what happens to the yields some of that movement started after treasury secretary told us that Treasury Department is looking seriously at the idea of a 50year bond for some time next year. Right now, the 30 year is yielding 2. 28 i saw him later in washington and he started talking about 100year bond for the next consideration. Did you prepare for seeing him by watching the interview we conducted . I did thats why i decided to take the 50 and up theante and ask him about 100. To beat the record, he would have to serve 13 years see, i knew it were you talking abo
Mixed Global Economic data as well. Looking at germany. The signs are not very good. Seng, pretty much flat here in hong kong. Shanghai markets. There,table moves out lets check in with the silver market. Down at the moment. Mix, and into the increase in silver holdings. Brent crude, fears about what is going on in germany and how that could terminate how that could permeate the rest of europe. Saudi oil production, a bit of optimism that it could get stillperhaps spooking investors. , sinking further into negative territory. We did see the bank of japan not do anything today in terms of their bond buying program. Int has put some things stasis, if you will. As a result, we are not seeing very much action apart from a move to the downside. It seems like those positive yields are longshot when it comes to german bund. Guest joins us from singapore this morning. Lets start with germany. The data we got overnight, it seems like it is spreading to the services sector. How close is germany
Omar welcome to daybreak europe. A warmfed took up welcome. If the fed took up dudleys advice, to the boxing ring that donald trump wants to draw the fed toward, which is doing his bidding and contaminating the white house. Farhe big question is how we have gone with the dovish shift and the pricing in the market it would help at the fed walked back the direction its on now without big volatility and without increasing the tightening and financial conditions as well. And of course the whole political separate discussion we will get into within this hour. Manus if they did accelerate the rate at which that shifted gears there, would be driven by politics . Lets talk about the markets. A wonderful phrase that means enough. Have a look at dollaryou want. Its the message from the pboc, they have had enough. Nine days of dropping been consistently time to move the market along. This is the yuan against the basket which reads the lowest level in nearly 15 since 2015. When you got here is the
Rishaad japans recovery on track, growing for a fourth straight month, the best performance since 2008. Investmentaba the to in chinas largest hypermarket chain. Rishaad we started with the markets. 6647. S a technical chart it is showing a double top formation. Msci asiapacific index slipping from last monday to friday, halting a rally that had lifted 6 . The asian gauge risk of a p technical pattern, which means the path of least resistance would be to the downside after it hits it. Fatigue, ifse of nothing else, creeping into the markets. The u. S. Session, thanksgiving towards the end of the week, and in asia, a loss of momentum of the that continuation japanese recovery story taking place. This week is all about centralbank minutes, the ecb, rba, and the fed. Four for rate hikes in 2018 supported by the october minutes. David im looking at the wti screen to show you the nuts and bolts. Sophie the kleins for the despite25 and the topix trade data indicating the best performance now
This is Bloomberg Markets asia. Rishaad lets have a look at the big one. 189s bring up this chart, on the bloomberg terminal. What does the show . Unemployment rate. I refer to that because it is the big yoelater. At unemployment, Holding Steady at record lows, or decade lows, i should say. Seasonably adjusted. 4. 1 here. Wage, wet the annual ratehe unemployment go down. We go back to 2008, and wages are pretty high. Then, they plummeted at the Unemployment Rate went up. Around the 10 level. This is a fine line. Unemployment versus wage growth. More wage growth needed to engender some sort of inflation to take the inflation rate in the u. S. Higher. Likeng at that, something 8 30 hong kong and beijing time. Dont hold me to that. Im not sure. [laughter] haidi here in asia, it is pretty data light when it comes to the inflation. Reserves looking m at the impact. Global synchronized growth story. 30 minutes out from the open in china and hong kong. Singapore, thailand, malaysia, joining a