[laughter] maria big show this morning on deck this morning, ohio congressman and member of the house intel and ways and Means Committee member brad is here on yesterdays hearing, darrell issa joining us on new run fur the house, Intel Committee devin nunes on the whistleblower come print and Philadelphia Federal Reserve complaint patrick harper, on Economic Data, backdrop on the economy, we will talk about rates as well, dont miss a moment of it. Top story this hour, whistleblower hearing, Joseph Mcguire sealed question from lawmakers yesterday, intel chief showing some support for whistleblower also had warning for democrats Going Forward, watch. Theres an allegation of a coverup, im sure an investigation and before this committee might disprove that right now all we have is allegation from secondhand from a whistleblower. Maria now weve got the media, New York Times say they know who it is but the republicans want to know who is the whistleblower, maybe hes from the cia, whats your
Global threats keeping haven bulls happy and the yen expected to outperform the g10 years. Peers. Petrol bombs, tear gas and rubber bullets fly as Chinas National Day approaches. We want to get you to breaking news on the terminal now. Industrial production from south korea for the month of august, something of a miss, 1. 4 contraction for the month. The survey expected a 1 contraction for the year on year figure. 2. 9 contraction of the market had been expected, a contraction of. 2 . Decline in expected Industrial Production for south korea in the month of august. Get you started with a quick check of where markets are trading your u. S. Futures gaining. 1 , paring back earlier gains but in the green. We are coming off the s p 500 losing half a percent friday. We had it at one point falling below its 50 Day Moving Average. It managed to bounce back, but still finished in the red. We have trade tensions, concerns across the past week which last which led the s p 500 to lose more than 1
The french president tells Boris Johnson a new brexit deal is not likely and italy has a few more days to cobble together a coalition. We are live from g7. Week japanese inflation stokes talks of further boj easing. Meanwhile, the rbnz governor tells bloomberg it can afford to be in wait and see mode. We can afford to watch and observe what is happening. We have taken a preemptive double cut. Matt good morning. Matt here in berlin. We had a slew of fed speakers yesterday that pulled back expectations for a big rate cut, if any at all. That really changes things in markets. Nejra you saw adjustment in pricing in terms of futures. Have we just heard from the hawks . What is jay powell going to do . Is he going to push back from we know historically jackson hole speeches can give signals of Monetary Policy in the future. Matt interesting we continued to see gains in u. S. Stocks. The s p 500 closed down a little bit, but it was not too bad. Now we see futures pointing to gains at the open
Fed chair jay powell has to strike a fine balance at jackson hole. Fears of recession swirl, but regional fed president s question the need for more cuts. As i look at where the economy is, it is not yet time. Im not yet ready to provide more accommodation to the economy, without seeing an outlook that suggests the economy is getting weaker. Matt a working weekend at the g7. French president Emmanuel Macron tells Boris Johnson a new brexit deal in 30 days is unlikely to happen, and italy has a few more days to cobble together an unlikely coalition. Plus, the perfect storm. Germanys Buddhist Bank bundesbank say it is not time for stimulus even as sentiments hours on the manufacturing sector. Welcome to bloomberg markets, the European Market open. Were looking at futures pointing to gains. The u. S. 10year yield continues to climb. 1. 64 , 1. 65 the next stop, and in terms of European Equity index futures, we see green across the board, on s p futures as well. Upe a look, dax futures. 75
We are seeing green on the screen in terms of equities and u. S. Futures. We finished unchanged on the s p 500, so the markets are a little bit risk on. We are seeing that reflected in the bond market. The 10 year has backed up. We have a number of regional president s pushing back against further rate cuts. The dollar is on the front foot as well. Coming up, we are live from jackson hole as investors take positions on how fast and how far the fed will ease. We have a host of stellar interviews first up, James Bullard. And then watch out for robert m Robert Kaplan and patrick harker. , that iser it takes what new Zealands Central Bank governors says he will do to support the economy. Thef says he will evaluate impacts of this month on expensively large rate cuts before considering further easing. Forward, we were saying everyone is telling us we needed to be lower. Everyone is telling us Global Growth is slowing, so lets get ahead of this. Lets move and reduce the probability of having