Matt the coronavirus spreads stateside. New cases across the u. S. Including in new york city. President trump meets with pharma executive today as the global death toll passes 3000. The fed is in play. Policymakers stand ready to cut rates but doubted they can fully offset the virus in fact. Goldman sachs sees a 50 basis point reduction this month. Berlin reports its first case of the coronavirus. Italy seeks a wider deficit to pay for emergency economic measures as cases soar. We are under an hour away from cash trading in europe. You are getting 1 to 2 gains in futures, the ftse futures up. This is after the biggest route we have seen, we saw last week since 2008 for the broader stoxx 600 european index. Getting gains in the preachers in the u. S. Are not as sharp but we are 7. 5 hours away from the start of trading there. The nasdaq, down, many contracts rising this morning. What are you seeing . Money going into risk assets. That is the theme through the Asian Session and markets
Aggressive policy, stocks get a boost. Sellers deal. Ab inbev of is selling carlton united for a 11 billion. And an ipo of its remaining asian unit is still in the cards. And a downed drone. Oil snaps several days of losses after President Trump says the u. S. Has downed an iranian drone. Matt, good morning. Matt we are less than 30 minutes away from cash trading across europe and in the u. K. Take a look first at the 10 year yields. A big debate today about whether the fed rate cut, almost a foregone conclusion, will be 25 basis points or 50. As a result, the yield continues to come down. Up a little bit today. Still, if it is a 50 basis point cut, expect to see the yield fall further. Look at futures. European equity Index Futures pointing up. Dax futures gaining. Cac and ftse gaining also. the markets have faith in the original statements from william. The asian equity market getting a boost from officials despite the walk back. The market buying into the idea that perhaps there is
Cfo about politics, the economy and the integration of popular. And jes staley tells us the bank is stronger and fitter. Is the same true of Deutsche Bank . Matt will go to the ecb, it is a big game and day in frankfurt. Waiting. Ay of we do need to see what is draghi. G with mario and this is , the banks are the key but central and commercial. Lets show you what is happening in the gmm and give you a sense of what is going on. Interesting day yesterday, the mexican markets in focus. The s p down. 5 of 1 . In terms of moves, those are decent sized moves for some of the biggest benchmarks out there around the world. Currencies this morning, the ones trading higher are the resilient ralph brazilian real. Higher, therading yen is up by. 2 of 1 . Heres juliette saly. Juliette Deutsche Bank has reported a bigger than expected drop in thirdquarter trading revenue as europes Largest Investment Bank keeps losing ground to rivals. Declined 30 from a year earlier. Worse than the 15 decline and t
In other news, online travel aggregator ixigo saw its Rs 740-crore IPO subscribed 1.38 times with investors buying 6.02 crore equity shares against the offer size of 4.37 crore shares on day 1 of bidding.