A big market move yesterday that started with concerns surrounding hong kong and that means yen found a good bed yesterday. Argentinaocus was in after the selloff after the surprise primary where we thought it unlikely the candidate could make it. The second time of voting since october. U. S. 10 year yield that 1. 63 . Coming up, we talk with the chief executive of Steinhoff International holdings. Do not miss that interview after 4 p. M. London time. Lets get to the first word news in new york city. Viviana Senate Leaders in italy failing to agree on the date for a confidence vote in the populace coalition, leaving the deputy premier happy to wait before consolidating power in rome. Discussions in the Upper Chamber continue tonight. If there is a new election, the commanding lead means he will likely be the next Prime Minister. Global anxiety showing up in the treasury market. Yield on 30 year Treasury Bonds approaching alltime low as the 10 year yield also fell. That one point it wa
Priorities. Manus welcome to bloomberg daybreak europe. China has fined fords joint venture for antitrust violations. This marks the latest action against a u. S. Company. Tensions escalate. Ours get straight to james, beijing Deputy Bureau chief. Here we are. This is not so much about the size of the monetary fine, but the principle of it. What does it say to you . we seen a number of actions recently veiled threats against u. S. Companies , anfedex is undergoing it investigation for rerouting packages. How links this is. An isolated case, but when it comes after these warnings the Chinese Government has put out, this list of ,ompanies that are unreliable the idea that these are all part of a concerted effort to push back on the u. S. Because of huawei but also more broadly in the trade war. Nejra good to see you. What is the effect going to be on the trade dispute if that is the case and more broadly, chinau. S. Relations . James the big problem now is the result a lot of uncertainty
It is a bank holiday. A lot of the data in the u. K. Closed. The ftse is not trading today. I still want to give you a quick snapshot of whats happening across europe without the ftse 100. It is down some 0. 4 . Dollareuro is the one im keeping an eye on for the week. Maria draghi, the ecb president , refrained from talking down the euro. This is what im looking at. Im looking at dollar. Kuroda,peak to governor a fantastic interview by Kathleen Hays. Crude oil, 47. 43. We are seeing a Little Movement for gasoline prices. It could also impact the oil prices. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra in the u. S. , houston is battling unprecedented rainfall following the biggest storm in the history of texas. The down for has crippled the core of the u. S. Energy industry. Gasoline has surged to the highest in two years. The president of the cleveland fed urged her colleagues to look past recent inflation data and stick to their gradual pace of lifting Interest
We begin with our conversation with the head of fixed income Asset Management hussein. I think you have seen some stability it obviously in the last 12 months specifically , obviously because of the best particularly since 2016 when the oil was very low, and you had middle east begin to get impacted. However, the big change, and i think that is something we can talk about, middle east read versus global em. That is were the real story has been in the past 12 to 15th months, the way that i see it. You have had a situation where if you look at spread on about Jp Morgan Middle East index and you compare it with the fiveyear emerging markets cdx spread we have done exactly that on the basis of your notes. Btv 7042, compares and contrasts em versus middle east credit. Talk to me a little bit more about where the trend goes from here. I think that is the interesting point, i think what we will see as probably middle east outperforming global em over the next six months or so. You will probab
Matt has a chart for you. Who is next, president xi advancing no clear successor. We will take you live to tiananmen square. The bank of england hiking rates , that is one of the big questions. We have an Interest Rate outlook from metro banks ceo. Than half anless hour away from the start of european trading after new records in the u. S. Line lets take a look at what u. S. Futures are doing. They are down across the board and we have the ibex in here. We expect to hear from the whetherseparatists on they will fully declare independence and on friday you get that vote in the senate to will take over. You can see we have come above this 2. 4 level which is not really magical for any other reason than no gross pointing that out as his indication that the bull market in u. S. Treasuries is over. We have been above 2. 4 at other points in the beginning of the year. Jeff good luck saying it is you are die time for treasury bulls incomemart fixed analyst says if powell becomes the fed chair