Welcome to bloomberg daybreak europe. We end the week with a risk on. The msci asiapacific index with a fourth week of gains. The s p 500 yesterday closing within 0. 5 of that record high, lifted by this report of a potential interim deal between the u. S. And china. The 10 year yield goes up another basis points. We have risen more than 20 basis points this week, the biggest weekly gain in that 10 year treasury yield since 2016. 108. 14 is where dollaryen sits. The market seemed to take the easy be decision as ecb decision as dovish. 5 higherended 0. 0 yesterday. Brent heading for a weekly drop with the iea warning that opec faces a looming surplus. Thats get back to the ecb. Mario draghi delivered his final stimulus package after overcoming an unprecedented revolt from projectors. The risks surrounding the euro area Growth Outlook remain tinted to the downside. We still think the probability of a recession for the euro area is small, but it has gone up. Outlook andeconomic continued
Major market opens. Paul australia has just come online. China ramps up aid for the economy, a higher budget deficit ratio and asian risk assets, in addition to easing treasury yields, trade is also mixed. Plus, japans biggest listing since 2018. Annabelle what i want to point out is that the Australian Market is sensitive what happens in china. New support measures coming through, Stephen Engle is here and well go through all the details in just a moment. This is an economy very reliant on what happens with china. The Golden Dragon index, that is the last close for that because it tracks u. S. Stocks around the chinese stocks listed in the u. S. But that was the best data we saw since the end of july. Just gives you an indication around how much investors are liking the latest support measures. Were also watching in the aussie session, the inflation focus in particular because we have cpi numbers in the next hour and the handle expected to take down, about 90 minutes from now. China i
A warm welcome to the programme, briefing you on all you need to know in global news, business and sport. Also in the programme instragrammers watch out Heston Blumenthal has introduced a strict photography policy in his three michelin starred restaurant, the fat duck. So wed like to know what social media habits get on your nerves . Do tell just use the hashtag bbc the briefing uk scientists have issued a stark new warning about the fires in australia and Climate Change. They say the fires are a taste of what the world will experience as temperatures rise. At three degrees above 19th century levels, which some believe we are now aiming for, the situation could in the scientists words become normal. Rich preston has the details. As australia burns, this new report draws a direct link between the fires and man made Climate Change. Experts at Britains Met Office say what we are seeing now will become the new normal. The earths temperature has risen by one degree celsius since preindustri
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