A very warm welcome to countdown. I am anna edwards. Manus i am manus cranny. There is a relief rally in the turkish lira. A tremendous level of volatility we have seen since the close of business on friday, a military coup attempt in turkey. If you want to understand volatility, this is it. The oneday move on friday, comingmazing pictures from turkey you saw the lira really take a hit. The market saw the biggest drop, turkish air dropping the most in eight years. We recouped some of those losses. Of question is the flight capital, will it continue, or erdogans grip on power convince investors . Goldman sachs say they have lowered their lira forecast. Anna its a country with a big current account deficit. That is why the flow of assets really matters for the company. The country. The government is trying to reassure investors internationally. We will see how stocks do. Wey analysts pointed out havent always seen a sustained hit to the turkish equity market postcoup. Market the ringgit,
We will have exquisite interview with the chairman and founder of Colony Capital, tom barrick. We want to check in on the markets. Jon is taking a look at the turkish indices and the turkish lira. Jon equity markets are down 5 . Not reflected elsewhere, you can see markets in europe fairly stable, the ftse outperforming, a third of 1 . There is a big move there. There is a 40 premium offered by softbank or that deal look looks like the ftse gets a nice little lift. Market, the turkish lira, a big move. Slightly stronger in todays session. But that riskoff tone not really reflected in the fx market, it is a weaker japanese yen story. We trade at 105. 62 on the session. In the bond market, this is where things get interesting. Last week, an ugly session for treasuries. Ields up 20 basis points again today, you see bond yields inching higher on treasuries. In the commodity market, slightly softer. 47. 36 is how we trade on brent. Alix there is news concerning lending club. Chiefk dunn wil
Thate seeing signs drillers are fearing a slump in crude prices. Hot property, china june home price data will give us the latest look at how the wider economy is doing. We will break those numbers down for you and 30 minutes. Follow me on twitter. Dont to forget trendingbusiness. Get underway. Ets singapore and malaysia have just come online. , that is theg short of it. It is a very unexciting day so far. We are looking for the next catalyst. Frosty,ns looking multiyear highs for some. Asia mixed. Basically flat on the msci. Blames are quite thin, especially in australia and center 30 thinner. We are looking at the drop in the kiwi dollar. We were looking at gains postturkey into early this morning, then inflation data came out. 5 , but therer is the drop their, a 1. 3 drop. Once the data came out, the a 62 chen chance chance that the central bank could cut rates. As far as the markets are concerned, this is one of the least exciting at the moment. Angie not even a coup will shake thi
Impact Investor Sentiment . He market is about to open and an arm and a leg. Japans softbank pays 32 billion for arm holdings. Is this a big bet on the internet of things and or an opportunity for currency trade . We will discuss that. Not 29 minutes away from the European Equity market open. Looks like we are going to see a reasonably positive start today. Over to the bloomberg and the wei. The fair value calculation tells us we will probably be of 3. 5 . A big premium being paid for arm holdings. Phenomenal move. We will dig into that m a. Assete see m a across classes . The pound is so much cheaper, particularly when you compare it to the end. The lira rebounding today. The dollar is lower versus the turkish lira. Breaking news that turkish stocks have opened and they have fallen. Turkish airlines, the tourist industry being particularly hit. U. S. Futures up. 3 . Money coming out of the yen. No need for that haven and no need for gold, either, it would seem. Part k aversion sparked
Back in new york. We are seeing bond year its near record lows. We have never seen this before in history. We will be talking about this through the whole program. Theme. Es, a key it is a testament that is splintering forces in the market. We have one of the most accurate henomists, joshua shapiro, will be here. You dont want to miss this. Once again, a historic move that we are seeing in the markets. Jonathan look at the futures markets ahead of the open and we are points away from an alltime high on the s p 500. And another big headline is on brexit. Sie up 20 post back into a bull market. The weaker pound stimulate some stocks with a big flow of foreign earnings. The s p 500 is going to be in , they madethe nikkei big lives overnight. The biggest drop since around march on the nikkei to 25. The market is doing its thing. The fx market response with a stronger japanese yen. Up 1. 84 . A weaker japanese yen off the back of a decisive election with the Prime Minister over the weekend.