How granular will he get . We will speak to mark mobius and the ceo Michael Spencer. We are less than half an hour to the european open after yesterdays gains across the board, but take a look at where futures are pointing today. Also up. You can see the euro stoxx 50, this was yesterdays intraday trade. There is the futures trade indicating a gain of about. 7 of 1 . Dax and the cac all poised for gains. Guy lets talk about what is going on in terms of the gmm. Yesterday, the massive move yesterday in italian bonds stocks was fascinating, up four point 15 . I was told the italian market is 2. 5 Percentage Points away from a bull market. You heard me correctly. Peripheral markets did well. Spain was up. Most things are down in asia. The japanese yen down point to of 1 . The british pound also down. 2 of 1 as well. This is as we continue to watch the situation in europe unfold and we wait for the ecb and we are about the fed as well. Lets catch up on what you need to know. Heres the firs
In london. It is 9 00 so we have to look at the markets. We have quite a move overnight in asia. Currently our top story is the pound. Pounddollar, 1. 4425, the pound tumbling after that jobs report in the u. S. Everything is linked back to what janet yellen can or cannot do this summer. The european stoxx 600 almost flat. At 49. 2. R in new york lets get to the bloomberg first word news with caroline hyde. Caroline the pound has fallen to a threeweek low after goals suggest britains favor leaving the union. Surveyg weekend after a found 45 of voters would choose to leave. 41 said they would vote remain. Another poll shows the leave campaign ahead. The race has tightened in the past week, spooking some investors. China must improve Monetary Policy communication as it takes on a larger role in the global economy, so says u. S. Treasury secretary jack lew. I think when you talk to the Economic Policy, theres no question that they understand what they need to do in terms of having Market
Rallying, the pal and strengthening by the most in three months. There are signs that britons are warming, and it seems like the polls are heading that way. U. S. Treasuries and gold are down slightly. Lets get to the first word news with nejra cehic. Nejra thanks. Italys antiestablishment movement is poised to win elections in rome, threatening to derail as reform agenda. It would give the italian capital its first female mayor. Consideringin is selling stakes of the state oil company to china and india as he struggled to hit spending targets ahead of the next election according to two people familiar with the matter. Almost 20d raise billion. The deal would not only cover budget shortfalls but strengthen ties with asia at a time of strained relations of the u. S. And europe. Japan posted a surprise trade deficit in may as exports fell or an eighth straight month, undermining shinzo abes efforts to revive the economy. A surplus butted instead saw a deficit of over 380 million. Indias
It has just gone 6 00 here in london. Manus i am manus cranny in the in dubai. A shift in the risk sentiment. Anna gaining momentum over the weekend with the latest polls which put the remain camp three points to six points ahead of the levers. Lets go to the risk radar and show you what is going on in Foreign Exchange markets. This is very much the brexit story, the antibrexit story. Rally in spurred a highyield currencies, up by point at 1. 459 3. The aussie, the kiwi, emerging markets, the euro, all of these getting a little bit of a reprieve because of the polling. The expression of risk sentiment that we saw last week in the pound versus the yen, that is reversing a little bit as well. In there as well, the indian rupee. Over the weekend, we heard that rajan is going to be leaving at the end of his term at the end of september. The r. B. I. Selling dollars. That is according to traders in india this morning. Manus lets talk about some of the other Asset Classes. 2year notes, the y
Stepping down as the rupee plunges. Has india given up on the fight against inflation . Good morning. We are less than half an hour away from the European Equity market open. Looks like it is going to be a thumper if you are along these assets. You dont see this very often lets dwell on it for a moment. Ftse upcks are up 3. 1 , dax up byup by 2. 9 , 2. 8 . A shargh moved to the upside when it comes to european equities later on, and sterling is a big feature. For equities, absolutely on the front foot. Caroline phenomenal news that we saw, the Great British pound point biggest move we have seen since december, 2008, currently searching up against every single Major Trading ld currencythe wor ranker. We are seeing the weakness in the indian rupee is the Central Bank Governor steps down. He says he will step down in september when his term ends, managing to shape the indian rupee, as we hear that there is some state buying going on. The yen asg out of well, not going into the havens anym