You are welcome to bloomberg daybreak europe, our flagship morning show. I am in the city of london. Anna i am anna edwards in florence, in tuscany, in italy. Theresa may is here. The british Prime Minister. To reset the brexit negotiations. It looks like the talk is going to be about transition. How much money will be on the table for that. Thed like to talk about other things today. We have the opec conversation. We need to the geopolitical risks for north korea and the relationship with President Trump and the united patriot let us tell you about great guests we have on the program. We are going to be speaking with emmanuel oil minister, kachikwu, and we will be joined by the cio at serious wealth management. See irs wealth management. Anna you are looking great on the top of that building. Manus a room with a view. It nearly got smashed. What do you expect . You have this repast from north korea. Rocketled him a man, and north korea responds with the threat of a Hydrogen Bomb. This
Decline isterlings listing the ftse 100. 1 ofund was down 7 10 of she dollar during may speech. She said the u. K. Will honor its commitments made to the budget bonds commodities. This is your final three columns. This is a wonderful function on the bloomberg. We used it ahead of the u. K. Election and ahead of the french election. And we are using it ahead of the german election on sunday. It is everything you need to know about the german election. The race for third place action end up having an outside influence on the election. Merkel is poised to win a fourth term. There is a combined tally of about 22 . Sociale as schulzs party score. This is one of the charts. I can bring up 11. The other partys languishing in third, fourth, fifth and sixth place. It is going to be a fascinating sunday. This is how the German Market is faring as they prepare for the election. Equity investors are not being complacent. Timesx trades at 13 expected profits over the next 12 months, well below the
Joint session of congress all the more interesting for investors who will be looking for more clarity. Jon, youre the one who suggested if we dont get that clarity, a correction could be in the cards. Yeah. If he stumbled and didnt give us basicalically what the marke wants we all know the market, us collectively, we can act like bad children and when that happens of course the markets generally react negatively. I dont think thats going to happen. I think hes going to hit repatriation hard. Ive got an example for you. You take a look at some of the activity in the derivatives contracts. The options. These companies folks have the most money overseas. Microsoft, g. E. , a 8, pfizer, ibm. We have unusual activity in virtual lit every one of those over the last week. What does that tell me . Tells me that people are betting on upside after the talk on repatriation tonight and that 2 1 2 or more trillion dollars that could be pouring back into the country. Do you think, josh, the ramally
The stoxx 600 is down for a fifth consecutive day. Worst losing run since september 4. This is a weekly decline after two weeks of gains. The german 10year yield is up to 18 basis points. The dollar is falling against again. It was rising earlier. Fellmer prices in japan for a seventh month today. Household spending slumped. U. S. Gdp data expected to increase. Oil is falling for the first weekly drop since september as the Opec Committee meets in vienna to discuss output quotas for members participating in an agreement to cut production. This is my chart of the day. Yesterdaysr strongerthanexpected gdp number. Theres a greater chance of the boe raising rates then cutting 2017. N the second half of this is according to overnight index swaps. Traders reevaluating how long Monetary Policy will remain accommodative. Boe governor mark carney suggesting a couple days ago that the prospect of faster inflation is diminishing the case for easing. The greater chance of a hike than a cut in the
And the problem with loose Monetary Policy. We will break down the ecb decision on rates, and the entire mario druggie News Conference draghi News Conference. We count down to the ecb decision. The opec meeting in vienna. Wall street awaits the latest jobs data. Kick it off, less than 45 minutes away from their decision. Lets check in with the team leader, i am told the News Coverage will be watched closely to get the forecast. Interesting,ing is whether there today, no fresh stimulus probably, likely to show the inflation has not changed since the last projections in march and that is something of a disappointment because the last forecast did not include the ramp up of monetary stimulus, extra bond buying, negative loans and another cut in Interest Rates. A signal the ecb is starting to struggle. It will always say it can do more but it wants governments to play their part in helping the euro recovery. Investors will look for more detail. Nots past june, 2016, i do have a date and si