And the spanish bond market, 1. 67 is how you print on the 10 year and a good rally in the ibex up 1. 5 . Highlighted dollaryen because japanese stocks are at the highest level since 1996. Crude i wanted to highlight as well, up 4 10 of 1 . They boosted Oil Demand Estimates as the Global Economy we hear that from all of the Major Players in the oil space. They do see less call on their crude. Actually, sequentially higher their crude, 32 Million Barrels this year, 33 Million Barrels next year. David it is time for the morning brief. We will hear from imf managing director Christine Lagarde speaking at the annual Membership Meeting of the institute of International Finance at 10 00 a. M. Then we will get minutes from the federal open Market Committee meeting at 2 00. At 2 40 we will hear from San Francisco fed president john williams, speaking in salt lake city. President trump will go to harrisburg, pennsylvania today to address tax reform at 5 45 eastern time. There is news in europe.
To talk about demand as you said in your report, demand, the pace has weakened in july and august. In september we saw the impact of the hurricanes. Was it off a oneoff effect . Is this something to worry about longer term . I think the focus should shift to the fact that in the Second Quarter of this year we had exceptionally Strong Demand growth year on year. That was partly due to the fact that the year before demand was relatively weak. What we need to say is over the year as a whole in 2017, despite the quarterly variations you mentioned, demand growth is robust it will be 1. 6 Million Barrels a day in 2017 versus 2016, which is strong. In the report weve reconfirmed our forecast for 2018 where we see demand going up again by 1. 4 Million Barrels a day. In 17 and 18 we have good demand growth, spread fairly evenly around the world. Just two days ago we heard saudi arabia was cutting its exports. Thats in part because of some refinery maintenance happening in china ahead of the Peo
Warm welcome to Worldwide Exchange. Im wilfred frost at cnbc hq im safer sar a eisen in washington today were always here when finance ministers from around the globe descend on washington. This time its unusual 2017 for the first year since before the economic crisis and financial crisis is a year of synchronized Global Growth european debt crisis, fiscal cliffs, all sorts of uncertainties in the u. S forget it. This year the Global Economy is in expansion mode together, its not just certain economies were relying on the question is how fragile is that how sustainable is that . How can policymakers take the opportunity to put in place policies that will sustain it. Policies like tax reform front and center in washington for the u. S. One other common theme, apart from the uk, is the lack of inflation. Im sure thats a topic that will come up i thought we would get a catchup first i only see you by video link these days its a busy week for me the p g proxy vote in since nat tichlt ill c
Heads of organizations. This hour, we will also be speaking to one of the biggest names in private equity, jon moulton, and then later Nicolas Dufourcq. Overall, stocks in asia seem to be dropping a touch. European stocks were mixed and bonds rising as investors focused switching back to Central Banks. Several policymakers were cautious about raising Interest Rates again this year. The dollar weakening a touch, you can see. Thats your business flash. Lets get straight on to the bloomberg first world news. Nejra donald trump has said he will announce whether or not he will decertify the iran nuclear deal, quote, shortly. Thats ahead of the deadline this sunday. Trump has called the agreement a badly negotiated deal. Has denied ever calling for a bigger u. S. Nuclear arsenal. His comments came response to an nbc report that he had asked for a tenfold increase in u. S. Nuclear capabilities. He also questioned whether the broadcast license should be taken away from nbc television. Ofbrusse
President trump prepared to give the verdict on iran tomorrow. A new strategy as allies urge restraint. Betty it did feel like restraint in the equity markets. We saw it touched slightly lower. That is raising questions about whether markets are vulnerable to a sharp pullback. , whichook at g btv 1138 shows you the brett breadth of the market. It is the equal weighted indexes in the blue and white lines. That evens out the in influence on the index. You can see the breadth of the market. Falling, hashis is fallen consistently and emerged with europe. It looks like a rally we see in europe, much healthier than here in the u. S. Which goes to the point many people say. Which is, we are richly valued and are due for a correction. Yvonne we are seeing a freeze in this melt of stocks in wall street today. It is no surprise, given the euphoria we have seen today. The big story was the banks. Betty it was the banks. We will talk about jpmorgan and citigroup in a moment. Lets see where the ind