Chinas factory deflation deepens in may with Producer Prices falling the fastest in over four years. A surpriseower in jump of u. S. Inventory. Manus its just gone 6 00 a. M. In london. It is seven in frankfurt. The seat of the latest breaking news story about banking. Capital. Erberus a five page letter. This is the language that is being used. You got the same story in front of you. An abject failure to take appropriate actions and the refusal of management and the Supervisory Board to acknowledge the seriousness of the situation. Good morning. Nejra good morning. Exactly. Basically, the letter talks about commerzbank suffering from leadership, lax resolve to slash a bloated cost base. This is according to bloomberg news. That raises the possibility of a shareholder revolt if the bank refuses to appoint its representative. This demand is likely to be a topic of the Supervisory Board meeting wednesday according to a person familiar. What else has caught your eye in terms of what we le
Anna a very good morning, everybody. This is bloomberg daybreak europe. Lets talk about what happened with the Technology Universe and tech stock and into the asia session. Msci asia down, mixed trading but the overall sentiment is one that is negative as some of the Technology Stocks weakness we saw in the u. S. Falling through into the asian session. Fascinating to look at how the session developed yesterday. The markets inching higher early in the day, talk from janet yellen of broadbased growth and then tax cuts coming, lets sell some of those Technology Stocks. That seemed to be the realization that was going on in the market. I know you have more on that. More than 7 billion being lost by tech moguls. Nasdaq futures look to be flat at the moment. Well keep an eye on that for any followthrough. The pound is up a little bit, around. 5 . Talked about this in the program, on expectations that we could see a rate hike sooner than the market might of anticipated. The ftse was down the
Italys leader is handed a new list of things to do. And tracing the dots. Sent. S. 10 year yield is to its highest level in more than two years. What does this mean for the other Asset Classes . We will ask aberdeens head of commercial property. Matt we are less than 30 minutes away from the european open and you can expect to see a lot of action this morning because of that oil srurge. Futures are trading up across the board. We are looking at gains for the ftse, 1 . For the cac, almost. 3 . The dax is gaining as well. Pointing to a positive this morning as oil is expected to produce. They are big heavy components of these indexes. Guy lets see how london opens on the back of what you are talking about. This is the gmm function. Wti crude, it is a big and aggressive move in the commodity space. Brent is up by 4. 45 . We can see some decent sized moves coming through into the energy staes. We are seeing what is going on in the bond market. Look at what is happening with the french 30 y
We have a great show to kick off a big week for the markets. We will discuss what 2017 holds for u. S. Monetary policy. As italy lines up another new premier, in turkey comes to terms with the bombing istanbul, we will focus on the market and Political Risk in europe. As crude oil surges, we also speak live to the Nigerian Petroleum minister on surveillance at 9 40 u. K. Time. Lets check on the markets. This is a picture for oil, gaining 5. 1 at 54. It surged the highest in 17 months as efforts to cut production sent the 10year treasury yield above 2. 5 . Chinese equities tumbling. European shares holding to what we saw last week, pretty much flat. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra president elect donald trump says hes close to naming his secretary of state, dropping hints it could be exxon mobils ceo. A person close to the transition on hasnt beenrs formally offered the job yet but is likely to be the pick. Italys prize minister designate has been hol
A very warm welcome to bloomberg daybreak europe, our flagship morning show. I am anna edwards. Thats a strong dollar. The bloomberg dollar index has sinceeen in existence 2004. No surprise when you look at the relative yields you are getting in u. S. Treasuries. To find a reason to explain the trends in the dollar, treasuries looking their most alluring. Wayef you have spent too much time with their bonds. The kind of movement we have seen is remarkable. That is your dollar spot index and you have the yield spread compared to the rest of the world and that is the highest level since 2007 and credit sweeps putting out a note saying the yield could go up to 2. 8 around mid2017. We are going to go, anna, are we taking a breather . Plenty ofill have analysis. It let us all about oil as well and bring up the risk radar. A lot going on in the anna. Here we have the price of a barrel of brent crude. Going on in vienna. Here we have the price of a barrel of brent crude. All of the saudis seem