Mark welcome to surveillance, im mark barton in london. The stoxx 600 is up by 0. 9 , rising for the fourth day in five, contract for the best week since december, 2016. The european gains surging 2. 8 . Year, coming. S. 10 down today, breaking below 2. 9 , is where we are today. We closed above 2. 9 percent yesterday, the highest level since december 2014. Today, export and import data. Spot indexrg dollar is lower today by about 0. 25 . Sincee lowest level december 2014. A growing number of economists forecast the fed will step up the pace of rate increases. The u. S. Twin deficit becoming a likely catalyst for a new wave of dollars selling after a brief respite, i say a brief respite in february. This is coming up on surveillance today. We talk with the chief executive of metro bank. Withr, we talk the 10 year ylagos. Mateos taylor riggs joins us from new york. Reporter the u. S. Senate has blocked four immigration proposals, leaving a bitter impasse over how to protect 1. 8 million
We felt for a while that the pot of corinth is going to move to a core inflation is going to move to a higher trajectory in the next couple of months. If think there is a chance of inflation in the economy any see strong Growth Numbers coming out, that is going to bring volatility back to a more normal environment. The 10 year near 3 makes sense. , a lotce is in four better than six months ago. When we get a big settle selloff in equities, it will be because of a selloff in bonds. We have not yet seen it, but the idea that bonds will be a safe haven, i dont really get. The likely selloff in equities will come because bonds have to reprice because we have inflation. Jonathan joining me around the table in new york is jeffrey rosenberg, chief income strategist at blackrock, kathleen is from eden park management, and from london, jpmorgan asset management. Its great to have you on the program. Have no that bonds longer given Risk Mitigation quality, equities turn a lower, the bond to stil
Its the last attempt to get a lifeline and keep greece in the euro. German chancellor Angela Merkel says time is running out. Angela weve shown much solidarity with greece. Our last offer was very generous. In these time of challenges be it refugees or terrorism, europe can only keep strong and stand together if every country asumets responsibilities. Vonny they have to decide whether they can cooperate with cyprus and walked out of talks and called the referendum. Theyre trying to prop up the falling stock markets. Foreign investors are selling shares at shanghai listed stocks at a record pace. Vonnie obama warns it will take time and went for a briefing with the top military commander and called the fight against the Islamic State a generational struggle. President obama this will not be quick as a longterm campaign. Isil is opportunistic and it is nimble and many places in syria and iraq including urban areas, its dug in among innocent civilian populations. It will take time to root
Meeting. Policy announcement coming up at 2 00. In global news chinese stocks rallying overnight. This morning snapping the threeday losing streak. The shanghai composite closing up 3. 5 . Big growth. In europe greeces stock market will not be reopened today as some had expected. The exchange is waiting for an okay from the ecb and government decree. Thats 6 or 700 points. Huge. Stocks to watch this morning, twitter earnings and revenue are both above estimates but it was the Monthly Average user number and it grew at its slowest pace since it was public and that is accounting for a pretty substantial selloff today. 32. I dont know the last time it was there. Jack dorsey this weird beard, calls this unacceptable. Have you seen the beard hes sporting . I have. Its like does the not pass by mirrors . People dont talk. He has a lot of yes people. Yeah it looks good. Yeah, it looks good. I like that egg yolk. Right here. More of his comments and reaction from analysts in just a few minutes
Facebook results beating sales, profits, user growth higher than estimated. The stock is lower in the premarket. The big story for cigna, david cordana ceo joins us whole foods des appointments for the second straight quarter. It is down double digits as earnings miss expectations the governments initial reading of Second Quarter gdp coming below consensus, 2. 3 . Stronger Consumer Spending a slowdown of imports and a hike in Government Spending driving those results. First quarter up to. 6 from a previously reported contraction. Construction not bad. It echos what yellen and the fed said moderate growth continues. I had sandy cutler on the ceo. He said, you look around we are the best in the bad neighborhood, the globe. We are the best performing company. He is including china. He this is the numbers are completely phoney saying that this kind of growth is sustainable. It is not great growth. The rest of the world is on the decline. I understand what yellen and company did. Frankly, y