I know this is all prebrexit vote, but then we also need to look at yields. Thats probably the story of the day. Tom absolutely extraordinary morning. What i find so telling, francine, is i can tell you, ive never seen a bloomberg screen like this. 2007, 2008, even september 11 of 2001, its an absolutely extraordinary environment. How fortunate we are to have jim bullard for the hour. Francine right. Were seeing record lows, so not a bloomberg screen, not any screen. Tom, well get back. Those yields and bonds shortly, but first, lets get straight to the bloomberg first word news. Francine, in the u. K. , the justice secretary will make his case today on why he should be the next Prime Minister. G next he torpedoed the leadership ambitions of his fellow brexit campaigner, Boris Johnson. Now gove has his sights set on the home secretary, the early favorite to lead the conservative party and the country. The Largest Oil Producer in western europe faces a strike at midnight. The government
Pmis, this is essentially data that came out before brexit. We had the vote last friday. Juneacturing pmi for rising. Germany manufacturing came out five minutes ago. Thats rising at 54. 5. The picture for eurodollar at 1. 1108. Lets get you what the european stocks are doing overall. Asian stocks were gaining a touch. I guess we lost a little bit of momentum in europe. Worldou look at the msci index through the week, not adjusting it for currencies, at the same levels we saw last friday. 0. 1 . X index gaining lets get to the first word news. Nejra data out of japan shows another lackluster month for the worlds Third Largest economy. Retail sales and Household Spending stagnated, and inflation fell 0. 4 from a year before. Manufacturers Confidence Health study, although the survey was almost wrapped up by the time the brexit turmoil emerged. The latest figures show chinas Manufacturing Sector treaded water in june. Pmi fell to 50. The services sector, he continue to improve with the o
A very warm welcome to countdown. I am anna edwards. Manus i am manus cranny. There is a relief rally in the turkish lira. A tremendous level of volatility we have seen since the close of business on friday, a military coup attempt in turkey. If you want to understand volatility, this is it. The oneday move on friday, comingmazing pictures from turkey you saw the lira really take a hit. The market saw the biggest drop, turkish air dropping the most in eight years. We recouped some of those losses. Of question is the flight capital, will it continue, or erdogans grip on power convince investors . Goldman sachs say they have lowered their lira forecast. Anna its a country with a big current account deficit. That is why the flow of assets really matters for the company. The country. The government is trying to reassure investors internationally. We will see how stocks do. Wey analysts pointed out havent always seen a sustained hit to the turkish equity market postcoup. Market the ringgit,
Bloomberg. 90 minutes left in the session in europe today. No trading in the europe the u. S. For labor day. Stocks rising for a third day after gaining for the second consecutive week. The stoxx 600 now its highest since january 6. Top of the pile. Oil and gas at 1. 1 . Russia and saudi arabia said they would Work Together to stabilize global oil. Lets get to some of the big movers, the big gainer this was provider of banking software. Jumping to a record earlier after Credit Suisse upgraded the stock to outperform from neutral. It added it to a list of High Conviction ideas among swiss small and midcap stocks. Credit suisse expects the company to exceed its target. A strong momentum and licensing breakf licensing. Large visibility remain strong in 2017. A progressive renovation plan of large banks relicensing contracts as well. The price target is 71 swiss francs. Today we are at 61. 9. Is median price target 53. 54. That implies a 14 downside. Lets get into the big piece of data tod
Live herethe pulse in london. Im guy johnson. Francine lacqua will join you from new york in the next hour. Lets check in where the markets are now. We started off down. Barclays is the standout story for the ftse 100 which is up, but barclays is down. The stock 600 up by half of 1 . We have reach raced 10 of the losses we made at the start of the year. We are now up 10 . Brent is up. 7 . Some of the Energy Stocks are on the front foot as well this one. Here is first word news. Gauge hasnas factory fallen for a record seventh straight month. Dropped to the weakest in seven years. The dater underscores the challenges for policymakers as they seek to cut overcapacity. The japanese government is being paid to borrow money as it sold 20 billion in debt at an average yield of 0. 2 . U. S. President ial hopefuls are gearing up for super tuesday. Delegates needed for a republican candidate to win the nomination are at stake. 1 3 for democrats. In a dozen states, donald trump, and democratic l