Exchange. This is where we bring you todays market moving news from all around the world. Frombeijing to beirut, istanbul to washington, our bloomberg voices are on the ground with todays top stories. We have chinese pmi numbers that beat expectations, a positive sign as the sectors improvement is crucial to stabilizing the chinese economy. Joining me on the telephone is beijing. s bureau chief how much encouragement should we take from these numbers . Reporter it was slightly higher than what economists expected. New orders also moved into expansion for the first time pointing toall signs that economic slowdown may be reaching a bottom. Looking into 20 20, we also have indications that Infrastructure Investment is going to increase, and hopefully some of that takes. Of course, if this socalled phase one trade deal with the u. S. Comes to pass, that will involve tariff rollbacks, which will also be a boost for exports. Positive signals here in china. Thank you so much. We go now to the
Stories. We begin with ongoing protests in hong kong. President trump signed a bill backing protesters. This pump to china to threaten retaliation against the u. S. As it nears a phase one trade deal. The chinese spokesman saying u. S. Stopsuggest the sticking obstinately to its course or china will take resolute countermeasures. Where does this leave them in that phase one trade deal . Reporter it is very interesting because for several days, weve had the chutneys threatening nonspecific countermeasures, but there havent really got into any detail. The most weve had is the suggestion they might put a ban on those who drafted the bill from entering china or hong kong, which is a pretty lowkey response. The fact that we had several days of this without any suggestions without any specifics suggests beijing is grappling with how to handle this. It is clear the u. S. Once a trade deal done very soon. The chinese want a trade deal done as soon as possible. They dont want to bring in tensio
Rp much flat are the much flat. S p futures reporting today. Credit suisses thirdquarter results bringing relief to the banks reputation that was dented by a spying scandal. Bloombergs Francine Lacqua spoke to the ceo. Negative Interest Rates are not helpful to the banking sector. Everyone can see that. It will have to change at some point. Alix joining us from zurich is Francine Lacqua. Walk us through some of the highlights of the interview. Francine first of all, the numbers topline werent bad at all, but if you double down and look at the detail, some investors were maybe a little disappointed on the margin when it comes to wealth. The Global Markets did extremely well. This was a problem for Credit Suisse in the past. Youre seeing a bit of a muted reaction. Share price was down 2. 5 a short while ago because they are focusing on betterthanexpected results in some divisions, but the guidance disappointed. The other big question i tried to press on was the spying scandal. A couple o
Economic expansion going. He is speaking at a fed is listening event at the headquarters in washington d. C. Where they make the decision whether to cut Interest Rates or not. Powell says the inflation is running close to or just and 2 target range. Some members of the fomc that the inflation under that target is a big deal. More people are making more money, yes, but that is not enough money there to put inflation pressures in this economy. That is a signal that the fed may undershoot Inflation Expectations again. And the chairman believes that the tools that are being used right now are effective on the economy. Although he does worry that the u. S. Economy as well as world economies are facing challenges like low growth, low inflation low Interest Rates. The reason he says low Interest Rates because in this speech he is concerned that the lower federal funds rate does not leave a lot a lot of room if tht downturn comes to support the economy. Now the fed is getting input at these ev
Exchange, where we bring you todays market moving news from all around the world. Joining us from brussels, bloombergs maria tadeo, from london, ed evans, from the white house, Kevin Cirilli, and Michael Mckee joins me here in new york. First we want to start in brusselss maria tadeo. We are taking a look at euro area confidence falling to the weakest level since 2017. Maria tadeo joins us for more. Maria thats right. The numbers were particularly bad when it comes to industry. Trade uncertainty really weighing on prospects on the outlook. This is particularly bad for germany. This is a very export oriented economy. In europe, germany is coming under huge pressure to engage in fiscal stimulus to drop that black zero, no deficit policy. We are looking for any signs this is going to happen anytime soon. We are just not there yet. Has got to be, brexit. We are just four weeks away from what is supposed to be a hard deadline for a no deal brexit. Officials in brussels tell you the situatio