Tenyear, and we are looking at a situation where the euro is going down. Basically, olli rehn has said we are going to get the bazooka out in september. It needs to be impactful. We are going to deliver in september, and when we do deliver, it is probably better we go too far rather than not far enough. That is the effect on the euro. Vonnie in the u. S. , we are seeing the s p 500 trade higher by about 2 10 of 1 . Broadly higher for most of the major indices. The 10 year yield is at 1. 55 , so continuing to decline. The spread is staying positive, marginally. Guy a little bit of breaking news. The Swiss Stock Exchange is said to be considering buying an eu for somerd, looking diversification. Story. Y be yesterdays we will come back to that. Trade concerns causing some fluctuations in the market right now. Treasuries resuming a rally that pushed the 30 year below 2 overnight. Joining us now, patrick spencer, baird vicechairman of equities. What have you made of the last 48 hours . Pat
Nondisclosure agreements to join the android option. Some are calling the move another example of strongarming the competition. First, what a difference a day makes. Major markets have closed in the green after mondays recordbreaking losses. Tech can be partly to thank for the turnaround with apple, tesla, cisco leading gains. The s p closed up 1. 2 while the nasdaq closed up 1. 4 . Should take investors be popping the champagne just yet . Joining us to discuss, bloomberg Senior Editor michael regan. Should they . Ke they can at least breathe a little bit of a sigh of relief. Tech was the leader yesterday mainly because people saw that fix the chinese currency sunday night, monday morning china time. It was a dramatic move, the weakest fix for the currency on basis since 2015 and it allowed the currency to drift above that seven level compared to the u. S. Dollar. People thought that was a line in the sand. Fix, the peoples bank of china fixed the currency below seven. That is psycholo
That continues to decrease as gold and other assets move higher. A big deal today, allergan up theon the neil that on news that abbvie will buy it. 20 is not as much as the 45 premium that abbvie is offering. Hsbcs ceost guy john flint weighing in on President Trumps trade war with china. Take a listen. When we get past trade, i think it is clear that there is a broader desire to see china contained in some way. I think we will move into a chapter that covers technology, and maybe bifurcation of technology and technology standards. Guy containment. Havent heard that in a while. We are joined by john rochester, nomura asset strategy. Does trump do a sort of kim jongun and walk away . It could go that way. The market is not expecting that, so that is a long dollar trade. In essence, holding long dollar is the better choice of the two because since last tuesday when we had the news of the beating between the two sides, we have , the feddollars often now having 95 basis points in cuts pric
Jason lets begin with that cover story, it is a powerful one. Bloomberg businessweeks editor joel weber is here. What a fascinating read. It was not what we were expecting. Joel no, this was the culmination of a yearlong project, with an amazing writer who was going to travel around the world and wanted to come to us with something special. So we wanted to come up with an amazing idea to hear from laborers, workingclass people who most of us would never hear from. Carol what is fascinating is that it is a global story that took a lot of time and a lot of reporters and translators. Joel so basically, as she went around the world, she would look for people that she thought would embody the spirit of the local community. The beauty of this work is that it captures their voice. We hear from them directly in their voice. Not reporting in the traditional sense, it is more of as a told to, being told to the mark and you get to hear from people working in amazon factories in europe as a syrian
Of that. Marriott and hilton is down on a downgrade. The 10 year yield is backup to 2. 06 before the powell testimony tomorrow and plenty of fed speakers today and later in the week. Guy absolutely a firm focus on the fed. European stocks are down again. Stoxx 600 down by 1 . Cable is breaking lower again today. The reason for that the politics, probably more importantly core retail data out of the u. K. Today ahead of gdp tomorrow. Looks like the u. K. Economy hit a brick wall in the second quarter. The market is pricing and more rate cuts from the bank of england. By anothernk down 2. 32 . It was a little worse earlier on. It rallied a little bit, but down hard since that plan was announced. Vonnie fed chair Jerome Powell delivering the opening remarks on the recent Bank Stress Tests at the boston fed conference earlier today. His remarks come a day before his today testimony to congress, with investors expecting powell to pave the way for a socalled insurance cut. Here to discuss no