Haidi china pledges more economic transparency. The pboc will balance the need for stability while controlling asset bubbles. Rishaad sending a different message. Weibo currency opportunities. Global relief rally continues after the french election, seeing a rising tide, listing all markets across the world. , taking a look with attention to the European Central bank. Japano have the bank of starting its twoday meeting as well. That is on wednesday. Gdp growth figures out of the u. S. , looking forward to all that and more as we see the optimism flowing into this part of the world. Haidi thats right. It is a bit of a client trading day, given the australian and new zealand markets closed today to observe a holiday. When it comes to chinese markets, they are not playing ball. Take a look at this chart. A complete lack of correlation when it comes to chinese equities with the rest of the global rally. The shanghai, completely diverting from the blueline, the msci. What we are seeing is t
Minutes into the trading day in the u. S. Julie things are looking a little bit worse than one hour ago. We have negative buys and stocks are relatively unchanged, but you can see the trajectory going lower. It is more easily seen if you look at the futures so you can see the rolling over that we saw going into the open into the cash trading session we bounced a little cash trading session. And weced a little lower have seen yields had higher. The manufacturing data coming in slightly ahead of estimates and we globally have a little bit of a bounce in yields today as chinese manufacturing data, better than estimated. We have selling of bonds globally. Bloombergp on the shows out dish chose how this is playing out on stocks because groups like utilities and telecoms had relief yesterday as yields went down. Now that yields are backup the stocks are back down. That is what is pulling the stocks overall lower. Some of the individual movers include coach and some of the other luxury makers
Fallout from that not only in the oil specific market. Recent slide. It has to do with the crude Oil Inventories number. I looked at the chart. Take a look. This is the weekly change. To taken all the way back 1982. Just a few weeks after we had the biggest draw down on record this is the biggest billed by number of barrels we have seen on record. In percentage terms the week over week change of 3 is the biggest we have seen since 2008. Fairly unprecedented. It comes a time when the oil market is already fragile. Have already seen a pullback that is insignificant. 13 , 12. 5 in the past two weeks alone. Than six dollars being taken off the price of wti already. This doesnt just have an impact on oil markets. It also has repercussions for equities as well. U. S. Averages at their lows of the session. It has to do with energy stocks. Energy shares down by 2 . Thats the worst performing group in the s p 500 now. Utilities, financials and Telecom Services are selling off today. Talking abo
Health and human services. More announcements today. Lets look at where European Equity fund trading now, under 30 minutes to be close at a very different picture from yesterday because we have been seeing a italian banks rebounding, pulling up the ftse and giving lift to european stocks overall. European stocks are still hovering near the lowest level in more than a week. A little bit of thin trading ahead of this referendum and the head of the opec meeting later this week. , italyse equity space ftse makes up 1. 9 , the cap 40 in france at 9 10 of 1 and greece up more than 1 , the euro stock of empty weakness in the ftse in the u. K. , the ftse 100 down some 6 10 of 1 . The u. K. , starting at 7 10 of 1 . We saw this brought below 124 earlier. We will break down the moves later. 6. 20uro unchanged, one of 106. 20. The 10 year yield in italy down 10 basis points. Yields are coming down elsewhere in europe. And how the 600 sector breaks down, overall, the benchmark of some 1 10 of a pe
From the asiapacific to new zealand we are seeing losses this hour. Lower on that1 disappointing chinese data. Retail sales. Right now youre seeing a decline in about one third of 1 . Also counting down to the openings in australia. Futures are pointing to a slightly lower open. Plus including being in the second cut from the royal bank of australia. Dropping to record lows. After that chinese data over the weekend. Lets get over to japan tracking futures trading at chicago. We are seeing signals pointing to a lower opening on monday. Japanese yen is still range bound. Watching out for Producer Prices for april. We will break that to you when it comes. Is the story disappointing data from china over the weekend that highlights the challenge facing policymakers trying to reform the economy and cut overcapacity. How bad do things look . In march we saw a slew of positive data. Some would say this is a corner has been turned. The reality is that industrial output and production and retail