Mark we will discuss that. And speaking in the nexty hour. And getting real on the rally. Our stock valuations getting [inaudible] says yes. Every bit of good news seems to be incorporated into the market rises right now. There is not a lot of room for bad news. Matt we are less than half an hour away from the european open. We will see how european stocks do this morning. Futures are pointing to a positive open. We do see green on the screen when we look at equity index futures. The interesting thing i think to look at his treasuries. We saw yields creeping up toward 2. 6 percent again today. I have a threeday chart of the u. S. 10 year and you can see we are almost there. Not quite at the level. 0 on treasuries. To computer is rounding up 2. 6. We know better. Tom keene taught me to go out four significant digits. They are significant. Lets see what is happening on the gmm. Wonder whether the bund is going to be the tail wagging the dog today on the treasury market. Keep an eye on th
Surveillance. Lets check in on your markets. You can see the stoxx 600 pretty much flat. They are down a touch, but pretty much unchanged. We did see a nice rally that started in the u. S. Filtering through to asia. Oil advancing. Havea reminder, we may little trading volumes because it is president s day in the u. S. And Chinese Markets are closed after the new year. Coming up, we speak to the former italian Prime Minister. That is coming up next. Then we talked to Credit Suisse. We talk sustainable investing. Later on, we talk bonds, the selloff, and what is next in the markets with andrea silverman. Lets get to the bloomberg first word news. Nejra u. K. Prime minister theresa may and her ministers gather on thursday. May seeks to unite the factions in the cabinet. It is becoming clearer that the u. K. Wants to stay close to the union in some areas while breaking free in others. Employment numbers are scheduled for monday. Imports exports and both registered strong gains in january.
Look at yesterdays super blue moon, this picture taken from the richmond area looking over the london city skyline. Today we are going to keep largely clear skies, for a number of people some sunshine but showers will continue to affect northern and Western Areas and we have a clump of showers working down from the North York Moors where they could be sleet and a bit of snow over the tops, the clu b and a bit of snow over the tops, the club of showers working at east anglia through the afternoon. It feels colder this afternoon on account of the brisk and gusty north and north westerly winds, continuing to blow around coastal counties over night to night. We could see one or two icy patches developing overnight as the road temperatures dipped below freezing. But in the towns and cities we are looking at lows of 24d. Cities we are looking at lows of 2 4d. Tomorrow the winds will be a bit lighter but there will be plenty of sunshine around so it went the us chilly. They will be showers in
Im Francine Lacqua. Manus im manus cranny. Shall we get into this breaking did . Francine we have some european encompass it pmi. Composite pmi falling to 52. 5. Analysts were forecasting 52 5. 5 manus the eurodollar declining. Germany missed on that as well. For the compass it for the whole of europe, it also missed. Francine actually the services pmi fell more than the manufacturing pmi. Lets bring and stephen morel. Great to have you on the program. When you look at the pmi, how much do we care about this . We are still so worried about greece worried about what happens with the debt relief and we are lori that italy may become the next greece. Pmi meh . Stephen if you look at the composite pmi there has been an improvement over the last six to 12 months. Their something that becomes an issue as well. The nature of the euro. Its a q. E. Currency. The balance of payments data suggest significant outflows. If you look at the net errors account, there are clear signs there. Of capital
Im Caroline Hyde. As we were just saying, we are getting breaking numbers from allianz. Just to run you through some of the numbers, the outlook is confirmed on the upper end of the range. This is the number one european insurer, confirmed its fouryear forecast. Of 2e getting net income billion euros, ahead of analyst estimates. The operating profit came in at 2. 84 billion. We are looking at property and Casualty Insurance at 11. 8 billion euros. We will get much more on these breaking numbers with hans nichols. It looks as though the insurance side of things, hans, is missing a combined ratio, that we are seeing better than expected numbers from a revenue perspective. Hans yeah. This that income is a big beat. It is coming in north of 2 billion euros. On that front it is a big beat. When you look at whats happening in insurance, there havent been many natural asasters, so they could have little upside, although it looks like the insurance number is down on the property and casualty.