Last week. Overnight, in asia, japans nikkei topped 40,000 for the first time. Stronger corporate earnings and surge of chip stocks with Artificial Intelligence playing things up. The nikkei above 40,000. If you look back here in the United States, the treasury markets show yields are higher. Tenyear yielding 4. 2 . The price of bitcoin has been impossible to stop lately. You will see it is up another 3. 7 . Above 65,000. It will be a new high. Theoretically. We are watching crude prices inching up toward 80. The high end of the range. 79. 68. Opec plus countries delaying production. That means 2. 2 Million Barrels per day of cuts planned for the First Quarter of the year will continue into the next quarter. We will talk more about this and the implications with helima croft in the 8 00 hour. Congressional leaders released the details of the first six budget bills to keep the government funded. Democrats secured full funding of the special Food Assistance program for women, infants and
I am dani burger in london. Holding steady, philly fed parker said the end of the hiking cycle may be near with potential cuts to come next year. Treasuries extend a rally. The u. S. Curbs its ambition bloomberg learns that investment into restrictions in china are more limited than first expected. Plus, after bank stocks stumble, italy clarifies its new tax on windfall profits, saying it will cap. All right, we are going to give it get earnings but first let us look at markets because it has been quite the rally in the 10 year yield. We saw a drop by six basis points yesterday. Most of the gains on the front end of your screen happened during the asia and europe session. Those gains are maintained today, about two basis points. If we can have such a risk off day, such a flight to haven, flight to bonds on such little information, we have a lot about banking stocks we knew the picture for regional banks underscores the fragility of the summer market. Let me show the stocks because yest
George. I knew that one. Okay, so lets get on with the main share. So at 1st up, the us present, joe biden says he hopes a seat 5 can be reached and goes by next monday. More details remote you about the framework for a potential deal. So whats the zip told . Down to 0 . 400 posting in president s could be released in return for 40 as rarely captive United States egypt and caught the immediate control between a mass and israel war on this. Lets speak straight away to political hey, new joins live now from washington, dc. Uh so i probably 1st thought weve had situations in the past where the president says things which had been rolled back by his team. The question is, is that what were talking about this time, or is this for real . You know, this is for real because its been crickets from is age and usually when resident joe biden does that, and hes a, he didnt mean to do that as age quickly come up and try and clean it up. Were not hearing anything from them. And so this was a shouted
Need to keep rates higher for longer. There is progress on inflation but it is too early to declare any victory yet. What we are tracking this morning as we come online, with japan some ecodata. Broadly we sell weakness creeping through, because exports are up 8. 3 on the year. The estimate had been for 11 . We saw the trade deficit in the latest reading. That is the state of play for japan. Tracking the japanese yen, Holding Steady this morning but still at historically weak levels. The big focus on the japanese 10 year yield because we continue to monitor when it will hit the 1 mark, and we continue to track those yields inching higher. Japanese goodies under pressure in this session, so not that optimism from wall street overnight so far. Korea coming online, and the ecodata to note, april ppi coming out earlier today, we saw it rising 1. 8 on the year. 0. 3 on the month, but it was a pickup in ppi, Producer Price inflation. That presents a headache for the bok. We also watching in