They call the process excruciating. Good morning, everyone. Happy friday. We have made it to friday. It has been quite a week. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. The markets are focused on brexit, oil because of opec, and focus on u. S. Stimulus in the u. S. Stocks are holding gains, key data of course out of the u. S. , it is the u. S. Labor market. It is going to give us an indication of whether the economy needs support or not, and Oil Extending Gains after ninemonth high after this opecplus deal. I am looking at the dollar, treasuries pretty much nudging higher. A lot ofve a prett volatility because of brexit do we have a deal, do we not have a deal, have they walked out . It has been pretty unclear so far, talking about lastminute ships come up the british saying it is because of eu demands at the last moment, but it seems like it could be up in the air. Now lets get to the bloomberg first word news. Here is leighann gerrans. Hi, leighann. Leig
Facebook. Fears of celebrity boycotts. And jp morgan has said to have sent some manhattan traders home after positive covid test with plans to restack. Jamie dimon says work from home will cause lasting damage. 6 00 came in london, and a call over the past 24 hours, from the two veterans of markets. Gross. Y dalio and bill its about debt, deficits, and inflation risk. The veteran mindset, the warning shots are plenty. Annemarie good morning, manus. Certainly in different ways both these titans as you say are playing those risks. For ray dalio, he said the dollar is under threat. My question is, what would become the global new king currency as he makes the point in his interview with erik schatzker, the three major currencies all have the same basic problem. Gross, for him its about becoming more defensive, isnt it . Manus it is. We will pick up on the trades in just a moment. Do with to corresponding cash having negative rates. Lets see what our guest host makes of that trade. Take it
2. 95 . There were talks yesterday about another policy easing soon. There we have it today. The china 10 year bond futures rising on the back of that. The taiex currently down by 2 10 of 1 . T mnc will build the new mac chip. Apple is working on its own mac processes. It will be faster than the processors in the iphone as well as the ipad. The benchmark in new zealand currently bucking the trend, up a marginal 1 10 of 1 . Rishaad absolutely. Getting more details on that. The pboc acting in order to show sufficient liquidity in the system. Injecting merely a billion dollars worth of you want into the banking system. Weve got that declining or cut by 20 basis points. 3. 15 . Direction from our chief asian market strategist. Money intoue to pump the system, the financial system. Does it end up in the right places . This is targeted, hence the name. As the we. Look at chinas policy execution in the past six months. Lot that emphasized a these liquidities need to go to the real economy, to
Few smiles and the magic kingdom. Disney suffers a coronavirus hit with seem parks shot, movie theaters closed, and sports on hold. Shery a quick check of the market. This after u. S. Stocks gained ground for a second day in the regular session. We have sentiment being boosted as more economies move towards easing lockdowns. Still, in the last hour of trading, there were some cautionary comments on said officials that cut gains in half. New zealand stock scanning. 8 . This would be a Third Session of gains. Therir rate. Rate. Ir we have the rba leave rates unchanged. We are looking forward to retail Sales Numbers very soon and we will see how all of that toilet paper hoarding that we saw in march is reflected in the numbers. Not Much Movement for the japanese at the moment. Tosident trump continues push the theory that the coronavirus originated and escaped from a lab inside wuhan but sources within the u. S. Intelligence Community Say the intelligence is less than definitive. That as
Bring a malaria drug to u. S. Patients. Global equities make gains amidst tentative signs of Risk Appetite. Surges as President Trump says he may intervene in the price war. Welcome to a daybreak europe. We have seen 30 Central Banks cutting rates this week. 1. 5 trillion dollars of fiscal stimulus pledged worldwide. We have started to see stability in the market. Asian equities, excluding japan. Yesterday, we did not see limit up, limit down circuit breakers. In fact, we saw a little green on the screen, futures are dead flat. We have not yet broken the christmas low. European futures are firmly in the green and darl are dollar weakness is the focus. The fed starts dollar swap lines with nine more Central Banks and concerns around the lockdown pushed the dollar lower. Most beaten up currencies are catching a little bit of a bid. Oil record search yesterday as President Trump says he may intervene. Gold is higher and catching a bid, heading for its first backtoback weekly loss since se