Welcome to bloomberg surveillance. I am anna edwards in the city of london. Lets start with a check on the markets. This is how we are doing on the stoxx 600. We did either side of the flat line trading and we are losing around. 1 . A little of performance coming through in the london market as you might expect when you have Oil Prices Going higher by 2. 2 because of the tensions between the u. K. And around in the strait of hormuz. That is the focus for oil traders and they are pushing out some of the oil related businesses listed in london. S p futures point higher. We are a little range bound on these Global Equity markets looking for guidance, looking for the continuation of the equity story. That will come later on this week. Earnings reports from the baking sector. Going to be a lot to talk about. We will be looking for the ecb and the Interest Rate decisions have to make. A little bit later on, mervyn king is going to be joining the bloomberg team. Dont miss that conversation. A
We have the Semiconductor Equipment index up on upgrades from the street. Upertheless, the s p is only 1 10 of 1 . The 10 year yield at 2. 03 . I know we are going to be sticking with markets. A lot to talk about today because we are smack bang in the middle of a earnings season, but there is the whole backdrop of the Central Banks and their moves as well. Forill speak to mervyn king a very interesting conversation in the last half of this hour. Theres fed talk, European Central bank later this week. It is happening on all fronts right now. Guy lets get a take on that. Alberto gallo joins us now from algebris to give us his take this morning. What are we going to bid from what are we going to get from the ecb this week . Are they going to deliver, or talk about delivering this week . Alberto they are going to talk about it, and potentially a rate cut which may come in september, and then an extension of duration of qe. Buying longer dated bonds and more of each single bond, moving from
The eu stop job top job and gives her take on european relations. We should never forget that we are allies and friends. We sit on the same side of the table. Manus warm welcome to daybreak europe. The company that makes the machine that makes the chips, asm beat on their sales number in the Second Quarter. Its their guidance for the Third Quarter where the market will take some umbrage. Of 2. 6liver net sales billion. Thats the top line for them. The estimate was 2. 57. Slippage in the Third Quarter. It will come at 3 billion below the 3. 24 that was estimated. Margins will dissipate to 43 from an estimate of 46 . Unchangedales will be going into the rest of 2019. It is all about the extreme ultraviolet light machines orders. We are waiting to see what those numbers are. Capexms of the industries that come through. You have a little bit of banking. Good morning. Nejra good morning. Numbers coming through from swedbank. The new dividend policy is ofnging from 75 to 50 annual profits. I
Good afternoon if you are watching in asia. There is a risk on mood in markets and looking at the stocks europe 600 gaining. 2 . Treasury gold and yen extending some losses. Eurodollar 113. 69. The u. S. 10 year yield with a bold call from Goldman Sachs. A lot more to say about the 10 year yield talking about centralbank dovishness around the world and some of the Economic Data coming out the next couple of weeks. Also up, we speak to david from Harris Associates, the chief Investment Officer for international equities. We will talk about commodity stocks. That conversation in around an hour but first, lets get the bloomberg first word news in new york city with Viviana Hurtado. Goldman sachs joining j. P. Morgan in slashing forecasts for u. S. Yields. The lender now sees the 10 year years and the carried that is down from the two point a projection as recently as last sunday. The new figures price index that patient of the prolonged trade war and a dovish shift by key Central Banks. T
Decision to move the Central Bank Governor. It could undermine the regulators independence. Diluting the case for cuts. Asian stocks and u. S. Futures fly. Morgan stanley cuts its Global Equities allocation to the lowest in five years on concerns about elevated valuations and profit headwinds. New democracy problems. Greeces centerright party leader takes over as Prime Minister abe and am quite election victory, but will his as Prime Minister after his election victory. I have a strong mandate to deliver on my agenda. Which is an agenda to grow the economy, to create more jobs, but also to make sure that people feel safe again. Manus a warm welcome to bloomberg daybreak europe. Deutsche bank is the most read it has all changed. Read headlines coming through. There is an news ceo. Withp is named as ceo immediate effect. He was brought in to take over from the previous dealmaker. He is the new ceo, effective september 1, part of the longterm Succession Planning. What else can until you .