It has just gone 6 00 in the morning. The chinese stock market a little less volatile today as a result of some of the government actions. They seem as if they are wanting to take on the speculators in the offshore market. That means the cost of borrowing surged hong kong, that to another record. It seems the intervention by the liquidityaining yuan in the offshore markets. Murderous ins terms of stamping out the speculation. The whole point about this is trying to bring the offshore yuan and the onshore yuan. This is the start of the day, offshore yuan and onshore yuan are coming together. The first time they have been at the same level since october of last year. Lets take a look at your morning market check. Where is the money flowing . It is flowing into the yen. By 2. 8 e yen increased versus the dollar last week. 7. 53. T around 11 today, a little bit stronger for the japanese currency. Manus oil is moving. We are precipitously close to the 30 level. Contract, volumes nearly 50 a
Manus you are welcome to countdown. Anna welcome to the program. Weve got to talk about what we have seen coming out of japan this morning. A real surprise. Let us show you what happened to the dollaryen as a result. Economistst of 42 expected any expansion of stiff a stimulus and none of them godicted that rates would negative. That underlines how surprising this was. The yen instantly weakened. General kuroda really kicking the yen back down. . Ill it last canmuch of an effect quantitative easing continue to happen on market psychology . A chart showing the diminishing effect of the general kuroda surprise. We will also hear from him in. Close davos. The equity side of the story is this. We dropped 1. 7 . Youre still looking at an overall loss for the month. Up 9 . Tate is rocking, securities and commodity futures are ramping higher as well. The bottom is the bank banks. 330 Companies Reported on the topics today. They are mixing their profitability targets. Commonwealth bank of aust
Of course, today it is all about japan and all about governor kuroda. First, lets get straight to first word news. Nejra thanks. The yen tumbled and japanese bond yields dropped to records after the central governor adjusted negative interest rates. The bank of japans decision halted a yen rally. Stocks have risen for the first time in four days amid speculations that the monthly selloffs as the Global Financial crisis was overdone. The central bank injected more liquidity into the Financial System to avert a cash crunch before next months holiday. Frances recovery slowed in the Fourth Quarter as terrorist attacks cap tourists away and consumers from spending. Gdp growth. 2 in the final months of 2015. The spanish economy grew. 8 in the three months through december, pointing to further momentum for the nations recovery. Oil has extended gains from the n three weeks i after Russias Energy minister said that opec may meet to discuss output. However, no talks have yet been scheduled. Ear
Rich history. Learn more at www. Cspan. Org. Are watching American History tv, all weekend, every week it on cspan 3. Coming up next on the presidency, a conversation about the world war ii leadership styles a president Franco Roosevelt and british Prime Minister Winston Churchill. Policy posse institute hosted this event. Welcome to roosevelt house. , the actingpolsky dean of Hunter College. And professor of political science. Our program this evening features to visitors, who are deeply knowledgeable about the decisions that led up to be historic moment 70 years ago when allied forces stormed ashore of normandy to begin the final struggle of the liberation of europe from nazi germany. Nigel hamilton is the author of the just published book the mantle of command. Works, allenher packwood is the director of director of churchill archives centre. The leading authority on all things western churchill. In a few moments, i will turn thethe microphone to tina, sponsor of our series on churc
Following her introduction, each of our guests will speak for about 20 minutes and then they will join me for a conversation. Well have time for audience questions before we close. History shifts over time and perhaps it is so with the two men who are the subjects of this evenings program. Western churchill exercised an influence over the immediate postwar depreciation of allied leadership. He was admired for his determination after the fall of france in 1940 through the battle of britain and for his warning an iron curtain was dissenting after the war. His reputation was helped in no small measures to build his own magisterial six volume series, the second world war. Perhaps the first great fiction that the war generated. [laughter] fdrs star faded when his political enemies depicted him as the great sellout of the people of eastern europe. More recently though, we have seen a shift in historical perception. Historians have found more to admire in roosevelt, while churchill had lost s