Everyone. Good afternoon if you are watching from asia. This is bloomberg surveillance. These are your markets. We need to watch out for the u. S. 10 year yield and eurodollar. Augustgetting some services pmi rising to 53. 4, little better than expected. ,ut if you have a breakdown also manufacturing is better than expected, but what you need to are member is germany is not doing so great. France is a little bit better remember is germany is not doing so great about frances olympic better. Great, france is doing a little bit better. You can see our interview with Esther George 12 30 london time. Tomorrow, a stellar lineup. We speak to James Bullard all here on bloomberg tv. That may move the markets overall, but now, lets get straight first word news in new york city. The chosen one. That is how President Donald Trump described himself to reporters. He said it is his job to wage a trade war with beijing. Somebody had to do it. I am taking on china. I am taking on china on trade and we
1 despite a couple of earnings reports that were really disappointing, including the kraft heinz report. Management they are saying that kraft needs a plan in place. A new ceo, of course. For now, definitely a lot of selling. Symantec is up about 10 on reports that broadcom may be very close to some and a two symantec. Ith in germany, a pop on 10 year yield. Germany may be thinking about the possibility of maybe breaking the black budget, the budget. Z european bids are higher. Eurodollar leading the story. 1. 5 . Crude also up vonnie we are joined by bostick. s romaine we had these rumblings out of germany, and in the u. S. We are looking at china still. Romaine this would be a huge deal in germany, but this is something that was talked , whichall week long would be a complete game changer when we talk about the direction of rates and where they were. Obviously that is really what fed into the market selloff earlier this week. Chinaou also had providing a little bit more comfort, at l
On china stabilizing the yuan. We are being influenced by europe and germany headlines. The s p 500 right now 2915. The nasdaq is up 1. 5 . The 10 year yield is well higher than it was yesterday. A little bit of selling in the treasury market today. A couple of individual stories to look at, kraft heinz a sadly said, we need a plan. The street said yes, you do, and in the meantime we are going to sell your stock. Down 40 . Symantec up on a proposed deal with broadcom. Guy lets talk about what is happening with that german story. The German Finance Ministry says there is no decision to balance its budget for recovery. We will come to that story in a moment with more detail. Look, weve seen a massive gyration in the market over the last few days. How have you dealt with that . What is your view on that . Twodi e have taken a rightwosided approach now. We dont think there is going to be a recession. We are in a manufacturing recession, but services and consumption are relatively strong, s
Fallout. Deutsche banks sweeping turnaround gets a thumbs down from investors but what will it exit from equities mean for other banks . Tech tensions. Japan says a resolution to the trade spat with south korea is dependent upon souls response. We should hear more about that this hour. Is the European Market open, 29 minutes ago until the start of the European Equity trading day. Bitres look a little sluggish. We are slipping around the Global Equity story. We were slipping on wall street yesterday, slipping in the asian section, slipping back on european futures, slipping and waiting to hear from fed officials, waiting to hear from the fed because the market is betting we will get a rate cut in july despite the strong data on friday and the markets will be looking to test that theory dayshe hypothesis in two of testimony from Jerome Powell. Lets show you where we are on equity markets. Is close to the markets right now, that is something we are watching and watching fed minutes on wed
Worldwide exchange begins right now. Quit playing games with my heart, with my heart, with my heart good morning, good afternoon, good evening, ask welcome from wherever in the world you may be watching. I am brian sullivan. Yesterday the second best day of the year for stocks, the dow soaring 500 points youre probably wondering is that rally going to follow through today . Lets go ahead and find out. Right now at this 5 00 a. M. Hour, we do see a little bit of a continuation of yesterday, dow futures up80 points. Were not soaring on the futures. No ones saying that, but we are not seeing that drop that we had in may every time we went up we take two steps backment not the case today. We are on green across the screen for bonds or bond yields backing up a bit yesterday the fed of course all but came out screaming it might lower Interest Rates this year the benchmark tenyear not reacting too much, still very low, only five bips, basis points as we say in the biz. A similar story in asia