Together. If you think the increased interest in europe over the last six weeks of so is off the back of the e. U. Recovery fund. Details are pretty good. It means to us that europe is maturing. It is looking a lot more sophisticated. To us, this is something that can run a little further. The market is getting ahead of itself. People are saying this would d to more this is because of the pandemic. Are we going to be back to square one . Or is this Real Progress . I would say it is a little bit of both. Ultimately, this is the first up towards all the things we have been asking that was put into construction mode. Think there is a fundamental improvement. Terms of the long term in terms of a longterm, we still there were still a lot of focus on the old economy sectors, which means it is likely to struggle for a while and you have to remember demographics. The ecb looks more credible than it did a year ago. Plus, as you said, europe is managing the pandemic pretty well. By the time bein
Over the weekend. We are inching closer to that alltime high when it comes to laterchina that was set september. Of focus. Was one those are the biggest movers here today and in particular, they may be looking at that emergency in tokyo and some of the surrounding areas as well as hokkaido. Those are holding amid some of and we are tensions watching currencies as well. We are obviously watching dollar china and dollaryen. You are seeing some of these china proxies following the ram be lower. Forward markete with plenty of action. Citigroup saying we are not bullish. Someg that there should be caution on these simmering tensions. Ringgit inthe particular are ones we should be focusing on. Be closed later on. End ofsed as we mark the the ramadan festival. Asiahief north correspondent is watching development for us. Where does hong kong stand . Questionsa lot more to the power play by beijing invoke its own security laws, basically being rubberstamped, to impose that on hong kong, bypassi
Top aide who broke the lockdown rules. Lcome to surveillance i am nejra cehic in london. We get a sense of the u. S. China protests in hong kong. Equities, of course the u. K. Is closed for a bank holiday today. U. S. Cash stock and bond market closed as well. A positive sentiment coming through in u. S. Futures. Third day of dollar strength. That speaks a little more to a slight risk off tone. In terms of oil, it is being anchored around 33 dollars a barrel but in the green today. Confidencebusiness index is 79. 5. The estimate was 78. 5, so that coming in a little better than expected. In just a minute, we will speak with the Ifo Institute president clemens fuest. First, lets get to bloomberg first word news. Thank you, nejra. Were hit with tear gas in the city. New National Security legislation, being described as the vegas for hong kong since china took control in 1997. Here in the u. K. , Prime Minister Boris Johnsons most senior aides are facing growing calls, breaking lockdown r
Risk rioting from is just something the market is ignoring right now, which is absolutely amazing. Cominge the headline through, mayor de blasio talking about the curfew for the rest of the week. Alix yeah and today is starts at 8 00 p. M. So in a businesses that are open to provide food, that is now off the table. It also may delay recovery in some states, all of this having an impact on the overall economy. We saw as a noble laureate spoke on the ship of recovery. The pattern we are going to see and are already seeing because the economies in various ways are going through this, is a very sharp drop on then it kind of bottom flat. Where thee period virus is brought back under control. It starts to look like a u. It difficult to argue that we will have a vshaped recovery. The closest anybody has come to it is china and it does not look like a v to me. Alix mark mobius, Mobius Capital Partners cofounder joins us. What are you make of what he said, as well as the pictures of the riots,
Consumerfacing businesses and both are on the move in the afterhours session and we have Team Coverage to break down both of these reports and lets kick things off with csx with the call now under way and lets get to Frank Holland with the details. Melissa, shares of csx up, and something weve seen in a number of other companies and one of its competitors, union pacific. On that call the ceo says production demand was too hard to forecast in this covid19 environment. Also during the call the cfo kevin boone said the Company Raised 500 million in debt and the Company Believes it is in position for a potential recovery and maintaining a strong cash reserve. Our Liquidity Position is extremely strong with nearly 2. 5 billion of cash and shortterm investments at the end of march this represents multiples of what we would consider normal, targeted cash levels cash may be strong, but volumes are weaker year over year to start q2 its been seen in the three weeks since the First Quarter ended