On downing street, pressure grows on Boris Johnson. Bailout bogged down by wrangling over key details. Swift approval from brussels once the plan is finalized. A warm welcome to daybreak europe. You are going to hear people drone on about liquidity. It does not change the risk sentiment. Equities are leaning into the reopening narrative versus the sino china political discourse. You are seeing lockdown perhaps being lifted in victoria state. Tokyo expected to lift their state of emergency. Equities are leaning into that new narrative of reopening. The yuan drops. Beijing tightens its grip. China sets the yuan at the lowest fixing since 2008. It is all about managing disorderly moves. City joins jp morgan in cautioning asian effects. Citigroup, we do not like asia affects asia fx. Dollars bid, oil is up. Since 2009drill rate gives you crude gushing up by over 1 . Dollaryen, as i said. The market is the longest of yen since october. Let us focus on the china story. What is going on . Chi
Bayer is learns that in the process of selling the roundup lawsuit, up to 85,000 suits could be resolved. We are just under one hour away from the start of your cash trading day in europe. A much ameliorated session in terms of liquidity. European stocks futures little bit higher by. 8 . The narrative is clear. It is the easing of the locked down from australia to japan. Japan is expected to lift the state of emergency. That along with the north of italy having almost zero infection rate, the lowest since early march, really changes the narrative. What is the pathway to reopening europe . The dax is up. A oneoff emergency fund. The narrative has changed. Stop futures are higher around europe. To the german data. Let me bring it to you. The gdp for germany quarter on quarter, this is the final reading, by the way, collapses by 2. 2 in the quarter on quarter. The year on year down 2. 3 . What is interesting in regards to germany, there is the dax over 1 , bloomberg expects the economy to
Francisco is preparing for what could be the First National election in the midst of a for struggling businesses. Global pandemic. That program ran out of funding more now from Christien Kafton last week. President trump said he would who says city leaders are sign the bill, which passed the calling for and preparing for senate by a voice vote without all senators being present. Everyone in San Francisco to vote by mail. Reporter americans im glad they seem to have reached some sort of agreement because the need is really traditionally vote for great out there. I hope we will also see some substantial improvements to the program. The house of representatives is not in president the first tuesday in session right now. November in this Election Year is no different. But what may be different is members though are being called how people cast their ballots. To fly back to washington to in light of the coronavirus vote on this stimulus measure pandemic, the chair of San Franciscos Democrat
Week for the nasdaq. That is the first time youll see stocks down for the major averages in three weeks. This morning, we are still near alltime highs for both the s p 500 and the nasdaq looking at the treasury market, right now, 10year at 1. 486 some additional pressure concerns about Global Growth and what it will mean for the economy. S p was out saying for the year, you could see chinese growth at 4. 4 for the full year that concern if they see a peak to the virus in march. All these new highs and goldman talking potential correction i can see how the case could be made right now is there anything more than a possible Global Pandemic i think about it it is hard to buy any stock that wouldnt be impacted by a bad outcome in this. Right people assume it will be a vshaped recovery and that it will happen sooner rather than later. With coronavirus. After it going away. But we dont know if it goes away and we still dont know what kind of numbers we are getting. It appears it is slowing a
Phone as china prepares tariff countermeasures. Investors bank in another quarterpoint reduction. Powell bow to the pressure . The u. S. Says it is disappointed with the u. K. Decision to release an iranian tanker. Penalties could be imposed on any company that does business take a look at the 10 year yield, coming back. We dipped below 1. 5 yesterday. This is a threeyear chart. Back to 1. 5 . Looking at decent gains across european futures. Dax futures. T the gains of 0. 6 . Across the board, really. Ftse futures up a little more. Wang. Get over to selina Chinese Paramilitary Police seen gathering near hong kong. Some are interpreting it as a sign beijing is ready to use increased force. Mirrors from the in comments yesterday. The hong kong situation is at a critical moment. We have full trust and if the situation deteriorates further, into i say our government, the Central Government will not sit back and watch. Is the special relationship in danger . The u. S. Says it is disappointe