I am francine lacqua. Lets tackle the markets. We have a busy day ahead. In the u. S. , bonds, stocks are closed for president s day. If youre watching from the states, happy residents day. Happy president s day. On the rise. Im tishri japan i want to show you japan. Japanese yen falling for once. Lets get to bloombergs first word news with nejra cehic. Nejra chinas yuan surged in the most surged the most in a decade. The central bank support the Exchange Rate. The currency advanced the most july 2005. Ations hsbc has decided to keep its Global Headquarters in london, saying the u. K. Is an important and globally connected economy. The vote was passed unanimously on sunday. Hass these it hsbc remained there for 20 years and it is important for both investors and shareholders. Say they willders not consider a replacement until after the 2016 president ial election. Scalia died from Natural Causes in texas on saturday. Stocks and bomber could a close today. President barack obama will be
We are live from bloombergs European Headquarters in london. Im guy johnson. Francine lacqua is not here today. Lets start with some big market news. At the end of the first trading our this monday morning, that act in germany the dax in germany has hit an alltime high. We are through 12,000. We are up nearly 1 . European equities are largely money continuing to move into the european space. The gap between u. S. Equities in valuation terms and u. S. Equities, european equities, absolutely massive. How long before we see that starting to compress . Oil is the flip side of all this. 2009 lows is where we are. We are down by nearly a percent this morning. Nymex over in the states trading at 44. 46, down 0. 8 . Big event of the week we all know what it is. The fed, is that language going to be changed . How significantly will it be changed . Anyway lets figure all that out. Lets get some context from hans nichols. Hans, i guess it was an inevitability. With the euro doing what it is doing
Officer. This is like aerial combat. It is about advantage. And all advantage is fleeting bloomberge from here you are never permanently European Headquarters in london. Defended here you are never this is what we are talking about. Breaking news on the ecbs omt. Permanently successful on the offense. It is all a tail chase. But you can make yourself are they will ask the Top German Court for device on it. Less likely to be a successful this just crossed bloomberg target. Look, i understand the turner will terminal about 10 chancellor sensitivity but let me tell you what we did to our president when he was minutes ago. The Constitutional Court has president elect. The senator was wedded to that sent omt, the unlimited bond blackberry. Buying plan at the ecb, to the president elect, European Court of justice. They say the ecb program may the Security Services said, we cannot do that. Overstep limits. The blackberry is unsecured . They are more secure than let me take you back a few said
It is 6 00 this thursday morning. Bloomberg reporters are standing by with stories to deliver your day. And lacing up for the world cup. And the story on google and startups in berlin. Caroline hyde is looking crackdown on and following rate decisions across asia today. We get to the inevitable top story the world cup begins today. Croatia in the opening match plays croatia in the opening match. They are viewing the country as an opportunity. He is lacing up his boots. [laughter] the curious thing for brazil is not how the world cup has been attracting eyeballs to the assets of the country, but the opposite. It has been a magnet for negativity. You have pimco saying it is a good idea that is priced in. They take the contrarian approach. They are not the only ones. Nationalpe corporations there are multinational corporations. They see the longer career term trends is the more positive than what is being presented in adams. Give us the argument for brazil. Is a young population. The medi
I am olivia sterns. Coming up on the program, the worlds greatest golfer gary player shares how to perfect your swing as the u. S. Open tees off today. Our top story. Bnps coo is stepping down. Pressuring theen worlds biggest bank to dismiss de courcell. This link to investigations over sentient violations . Bnp is letting him go of his own accord. It was his decision to step down. There has been a lot of indications in the media that u. S. Regulators were calling for his departure. We should be clear. He has not been accused of any wrongdoing. I want to ask you about your sense do you think bnp can afford this if they get cut off from the u. S. Dollar Payment System . It is a lot of money. I do not think it was their intent to force the bank out of business. Spiraling bigger and bigger. Every bank has to pay more than the last one so the regulators can show they are taking a very aggressive approach. Fair, it is not the reason that is up to 10 billion because of the sense that bnp was