Be the worlds biggest ipo. Tata sons votes cyrus mystery off the board. It is 7 00 a. M. In doha. I am yousef gamal eldin. Shery i am shery ahn. Waning, off seems to be safe haven plays, easing and that section, cold and the japanese yen reversing that rally earlier. Investors right now looking for cues on where to go. Taking a bit of a breather. The trumpfueled enthusiasm , and if you look at that data when it comes to consumer confidence. Caught myf things attention and the folks at goldman sachs. Initial hopes for that pro growth drive in terms of fiscal policies, initial euphoria, but since then this massive gap between the soft data and the measures of real economic activity. That is the whitest in six years, that exuberance is probably peaking. Goldman sachs cites the Retail Investment preference for stocks over bonds has almost fully reversed. This tells the bigger story at play here. Confidence may be starting to wane, as well as the reflation trade. Functionhe gg on the bloomb
Eva click a. M. Across the emirates, 4 00 a. M. In london. In hong kong, it has just gone midday. Gold Holding Steady after surging in the previous session, japanese yen is coming down from those eyes. How long will this last given that donald trump could to eat anytime . Anytime . Tweet yousef the u. S. Treasuries are up. There is a tone of caution in these asset classes. This tells the story of how the trump euphoria is starting to fade. This is interesting because we have contrasted this with other victories. You can pull this up on your bloomberg. This yellow line is the s p 500 post the trump election victory. The line is blue are after the victory after shinzo abe. We ask how much further this can go. They asked that investors shift to emerging markets and that the honeymoon is pretty much over at this stage. Bonds inybe corporate emerging markets. Look at my bloomberg. Investors are taking the smallest returns since september 2014 to open corporate bonds. Take a look at the seco
Tracy im tracy alloway. Riyadh. You are in that is not your normal place. What are you doing here . Are not here to look for oil barrels. The story here is about the Stock Exchange. They have the biggest Stock Exchange and they are pushing ahead wiith the series of reforms. Part of it is to make it deeper. Part of it is to perhaps repair as well for the delisting of saudi aramco, but also to diversify away from its dependence on oil. The new parallel market they are is arabichere, tracy, for growth. It requires a market value of at riyals. Million saudi and they are offering a percentage of at least 20 . Of course, all of this again part of the broader efforts to try to prepare the market for the emerging market inclusion. It shows regulators are serious with moving ahead with bold, constructive reforms. The realtors have not really bought into the stock market story. Yousef, one reason they are not buying the story may be oil. Take a look at the chart i have prepared for you. I know i
We will talk about that. New ceoill speak to the about raising sales, earnings, outlooks, why he is putting hockey in the penalty box. Lets turn to the markets. A number of factors that you need to be thinking about today. One of which is we have a decent bid on the yen. Around. 2 point. 2 of 1 . Policy is beginning to work in japan. You can see the yen up by. 2 of 1 . The dollar is fairly flat this morning ahead of payrolls friday. Yesterday briefly week session for equities. A leg lower this morning. Lets move on and talk about what else is going on out there this morning. Lets the bunds open so talk about what is happening. We see yields beginning to push a little bit higher. Backing off their earlier session high. There is the open, bunds initially on offer but beginning to firm now. Of where cashator equities are likely to go. We will talk throughout the program about this incredible spread that is emerging between what is happening with the german on market and the treasury bond
To attack the debt market lifts the veil on the opec society. We will see what the prospectus reveals. It is 8 a. M. A gloss the emirates it is 8 00 a. M. Across the emirates. Welcome to Bloomberg Markets middle east. The one thing we are watching closely, especially after the cpi inflation data coming in better than expected in the u. S. Is what we are doing in asia and it is following u. S. Markets. Let me bring you to the bloomberg terminal. We pulled up a chart where it is about the fx action today. Youee the correlation can see the direct correlation between the u. S. Dollar strength and weakness the based on mounting debts and the fed hike. That is lifting that greenback. We are seeing that pair off a little bit today. It is all about the fed here. Not only does it drive us in asia, also in your neck of the woods, yousef. Yousef it has been a remarkable rebound for the british pound. I am looking at the global movers. This is the trend in global markets. Easingclose eye on those