also on the show, as global leaders meet in egypt for the cop27 summit on the environment, what are the stakes for one of the most beautiful places on earth? i m going to be asking the big boss of the caribbean development bank, dr gene leon. wherever you rejoining me from around the world, a power grab at the top of china s communist party has big consequences for the global economy. yet with war raging in europe, a cost of living crisis, surging interest rates and a global energy crisis, china s president xijinping s consolidation of power at the communist party s 20th congress could easily get a bit lost amidst the noise. but china s critical place in the global supply chain, in world politics, in manufacturing and exporting and its growing power as a consumer and tourist powerhouse means that these changes are incredibly significant for the way the world s economy is going to develop in the next few years. so with the benefit of a few weeks perspective, let sjust take a
hurricane over the caribbean. we re live at the scene and with the forecast. we begin in ukraine where, for the second time within days, the city of zaporizhzhia is taking a deadly pounding from russian rockets. these are scenes of chaos after multiple rockets slammed into residential areas on saturday, reportedly killing at least 17 people. while further south, moscow is scrambling to get the bridge linking the occupied crimea with russia back up and running. a part of the bridge collapsed after a huge explosion and fire on saturday. now russia says repair work will be under way around the clock. some train and road traffic has already resumed, but drivers will go into the water divers, rather, will go into the water later today to see if the structure can still support trucks. scott mclean is keeping an eye on developments in ukraine including the deadly strike on zaporizhzhia. he joins us from london, scott? reporter: yeah, we don t have a ton of information about th
also on the show is global leaders meet in egypt for the cop 27 summit on the environment, what are the stakes are one of the most beautiful places on earth? i m going to be asking the big boss of the caribbean development bank. wherever you arejoining me from around the world, once again a big hello and a warm welcome to the show. a power grab at the top of china s communist party has big consequences for the global economy. yet with war raging in europe, a cost of living crisis, surging interest rates on a global energy crisis, china s president xi jinping s consolidation of power at the 20th congress party could easily get a bit lost to make the noise. but, because china s critical place in the global supply chain manufacturing and exporting and its growing power as a consumer and tourist powerhouse means that these changes are incredibly significant for the way that the world s economy is going to develop in the next few years. so with the benefit of a few weeks perspecti
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
Santoli. The initial shock has given way to, oh, wages didnt rise as fast. Thats what the fed really cares about. Absolutely. Offsets within the data as well as i think that initial reflex Market Action tested the bounds of where weve been in stocks and bonds over the course of the week. 488ish on the 10year yield, touched it and came back. 4216 on the s p. The intraday pinball, that was a successful test. Beyond that, i do think that, you know, the markets unwilling to extrapolate this pace of job growth and feel as if this is a new regime. Good news is good news. Look at whats going on in the Retail Stocks right now. Theyre getting blasted. Its not as if people are saying, strong jobs, were going to have a big spending binge out here. Yes, its the Consumer Staples in surrender mode, probably should climax soon, but are taking walmart and costco down and other retail. The read so far is, you know, we have the economy we thought we had. We dont have to sit here, if yields arent going t