Earthquake in mexico tops 200 people as the quiake topples dozens of buildings. Good morning its fed day we havea lot to get through. Lets get to one of our top stories on the corporate front shares in thyssenkrupp are trading sharply higher in early trade, this after the german metals group and tata steel agree to merge their european operations in a 50 50 joint venture. Gemma has the details. This deal i dont think comes as a surprise to anybody what were seeing here is its been widely expected for a long time, about 4,000 job losses expected, 2,000 from each company. Looking at Pro Forma Revenues of 15 billion euro. These talks have been ongoing for 18 months. Been waiting for the news we had earlier this month of tata steel being able to dispose of 15 billion pounds worth of pension liability, which means this was able go ahead. Still a few hurdles. Still need both boards to approve it still need the European Commission to approve it need support from the unions support has been te
There is too much towards the top of the market and not towards what some people call the real economy. Anna a very warm welcome to countdown everybody. I am anna edwards. Manus i am manus cranny. You had in the headline. Over they in the u. S. Past five days up by 50 . In europe, up 19 . A wonderful story on the bloomberg. It is called misery, not talking about me. [laughter] misery loves a companion. Have a look at this. It really does tell i suppose a phenomenal story about asset class correlation. Lets have a look at the full screen, dollar for us. Oil a big culprit. Gold down 22 out of 24 of the developed markets. They are indeed done, in terms of the equity market. There is the risk radar in terms of our perspective this morning. Anna msci emerging markets down 3 , misery loves company. Nowhere to hide. But how you like. Manus i love that. Anna are things turning around . Do things look different as we go towards todays trading day u. S. Future pointing . To a stronger opening. A
Dip on concerns it cant maintain the momentum. Jpmorgans jamie dimon outlines his take on the brexit in his annual letter on the outcomes of an eu vote. Large and potentially unknown. Welcome, it is countdown. I am manus cranny. Lets get into the clear message the fed wants you to get. There will be a rate hike this year, a dovish janet yellen, the minutes confirm everything we heard, and mr. Bullard says there is a debate, but if you look at wrip, a rate hike in the usa, that is not on the cards anytime soon. By december, 53 . The dollar is down. That is the message from the fed. Get it and get it clearly. Global concerns will trump the domestic issue. The s p had biggest rally. , the biggest rally in almost four years. What you have here is volatility dropping. There is another story, 1 trillion worth of stocks being shorted. What happens at the u. S. Equity market really takes flight. As talked about dollar again this about dollaryen. The dollar lost 6 since the fed raised its rates