Worn surging numbers may undermine a Global Recovery. Plus, we discussed prospects for the u. S. And the wider picture with the atlanta fed president , who joins us this hour. Haidi lets look at the sydney staggered open, the friday session muted compared to the street we have had in asian stocks, asiapacific stocks seeing 13 consecutive days of gains broken by the thursday session, the longest winning streak since 1988 coming to an end. A flat stock a flat start in sydney, kiwi stocks up, muted start in japan spite heavy inflows of foreign buying. We are seeing a further downside when it comes to trading in the futures session. Getting secretary mnuchin speaking at the moment. He is speaking in an interview with Bloomberg News, saying financial conditions are quite strong, that companies that are need grants,covid not that. We heard secretary mnuchin earlier asking the fed to return unused coronavirus money. We will get you more as we get those comments. This is coming at a time when
Good morning on Bloomberg Radio, good morning on bloomberg television. Too much to talk about. You hear it within those voices, that maybe it is the morning after, and the vaccine is really not out there. Now we get into a churn of the immediate news. Jonathan it is a tugofwar between the forward outlook looking better and the nearterm outlook looking worse. A real divergence between the two. How policymakers navigate the former will allow markets to keep the help about the latter. That is the hope for the market. First half of the week about cyclical appetite. 500 downhalf, the s p 0. 6 and nasdaq futures just about positive on the day. Tom we are going to roll the data check here through because it is a mess this morning. I just saw a 93 print on dollar. That speaks to the resiliency of dollar. Weve had a weaker dollar, but we just seem to come back when the uncertainty reigns. Lisa that seems to be the theme with all of the uncertainty on the dollar. When there is a risk off feel, p
Will talk about this later on, but seems like europe is edging one step closer to that 1. 8 trillion euro recovery fund, which would be huge, particularly as the u. S. Cant get it on stimulus. So huge that the euro barely budgets. [laughter] alix it could be worse. Guy it is big news, but i think there was belief in the market that this is a done deal, and europe will ultimately come to the right conclusion and make the stimulus happen, 1. 8 trillion euros. So i think the market had already priced this one. As you can see, unchanged on eurodollar on the back of that. We are getting the jobs data coming through. 6. 43 islittle light, the number. 6. 5 was the expectation. Actually, the prior number devised down a little bit as well. So maybe a little bit of softer data coming through, but the market doesnt care. The market is looking through the virus. All of the bad virus news, you can put that in the rearview mirror. That certainly seems to be the sentiment right now. Lets dig around w
Across this nation and worldwide. In morning on bloomberg television. Coming up, an important conversation with the vice chairman of the Federal Reserve system, Richard Clarida of columbia university. Jon, were way out front on the collapse of the United Kingdom suffered on the pandemic. But the bombshell you and i didnt see was the Prime Minister taking this Natural Disaster out to march of next year. Jonathan and maybe beyond. We certainly didnt see that in march 2020. We had three months of happy talk around europe versus the u. S. Many people have come on the program and talked about it. The data is not great either this morning. The service data softer than people expected. Manufacturing data ok. Do we start to hit some road bumps not just on the policy around covid, but also on the economy and this recovery . Tom what is your measurement of the American Economy now, in the many conversations you have on this . I am getting the sense of down big, up big, but i dont understand wher
Fed president Robert Kaplan this hour. President trump orders chinese to shutdeo app tiktok down in the u. S. Next month unless there is a deal with microsoft or another leading american company. Breaking news out of south korea. The cpi numbers for the month of july year on year, a growth of 0. 3 . This is of course after inflation remains flat for the previous month year on year. We have seen somewhat muted demand. Perhaps weighing on the month on month numbers. We are seeing inflation at zero growth. This really missing expectations that prices would rise 0. 1 if also inflation is decelerating from the previous month of june. Core cpi take out oil prices, and you get a rise of 0. 7 , in line with estimates, and slight acceleration from the previous month. We have seen brent crude prices recover somewhat from aprils slump but still down 38 year on year also. The are also expecting tokyo Inflation Numbers within the hour so take a look at what japanese futures are doing at the moment.