I think it is needed for the current condition of the market. Nejra and burning the midnight oil. European leaders pull another allnighter in the search for the next European Commission president. We are live in brussels. Manus a warm welcome to daybreak europe. Oil is higher this morning, brent is up by 1. 5 . There is word on the street below me about certainty, about a surety. Those are the words from the secretarygeneral. The consensus is building. Termsonths is offered in of an extension to the opec cuts. Putined bin salman and agreed this before the delegates arrived. Nejra, good morning. It is a gorgeous day. We will be chasing ministers, we will find out what a ninemonth extension for the current cuts could do for the market with trump and xi talking to one another. Nejra absolutely, and that is the key link. Good morning to you. Because we got that agreement that could be rubberstamped at the opec plus meeting over the g20 weekend. It is interesting how important the g20 has b
Minutes. We will be talking about the banking space in china and what worstCase Scenarios might look like. On the back of discussion on how they deal with local government finance. It is part of unlocking the narrative in china. Session highs on the benchmark, should be day number seven. That should be the longest in about seven months. 171 right now, we are breaking above the key that should be the top end of the range. 4649 the hstech index. This rally certainly continues the risk on mood. More earnings and more bank decisions. Rishaad just under two point five hours before we get the latest rba decision. Overall, it is this rally we are talking about and it has been predicated upon the hope of stimulus, the announcement of stimulus moves. Michael says there is very little in this. He sexually not deep enough essentially not deep enough. Not giving any real practical moves to do so in terms of fiscal space and that what really needs to happen is disposable income needs to go up which
Australia. We are counting down to asias nature market opens. Annabelle im annabelle droulers. A positive lead in with the 24th record high of the year, investors race for a spike in volatility. Haidi bond traders are trimming their bets. Chris waller needs months of disinflationary data. Annabelle holding a key rate with currency markets watching for signs of easing ahead of australias central bank. Haidi that is the decision, markets online. Futures in sydney with an upside, watching names including rio tinto including commodities. Aluminum is the one to watch. A 23 month high. Kiwi stocks are up as we get ready for the rate decision. The aussie dollar is looking for leeway overtrading in the key will kiwi. In particular as we get the twoyear Inflation Expectation holding steady. Weve had the shadow board recommending that the ocr have no cuts until 2025. That is overshadowing the meeting. Nikkei futures showing optimism in china futures softer. I wonder if concerns over property hav
Back of that record, record, record we cannot say that enough because we have indices at fresh record highs and the u. S. Stocks one of them, 23rdthe s p 500 this year. That is playing into the session, the nikkei 225, up. 80 today, and we saw that rally rod base in the session but in japan, the focus is on financials because we had a number of banks yesterday recording better than stronger forecast for the year ahead. What alsos claim into the dynamic are gdp figures what is also playing into that dynamic are the gdp figures. A lot worse than what was expected with the contraction of 1. 2 , and retail and business spending, as well. Lets switch to korea because we are coming back from an extended holiday on wednesday. The kospi pushing up high, 1. 4 , softening the weakness we saw in u. S. Housing and retail sales. We are also seeing the focus in korea is on how korea is trying to boost its online stock market with the program that mirrors what we have seen in japan so far, and we do
Haidi welcome to daybreak australia. We are counting down to asias major market opens. Annabelle im Annabelle Droulers in hong kong. The top stories is our, positive move as the u. S. Inflation gauge slowdown reinforces fed cuts as early as september. Wall street stocks closing at fresh record highs while bond yields retreat. Japans megabanks forecasting Record Net Income as the boj moves away from negative rates, seeing a combined windfall of 21 billion. And china tech earnings on the way. Well bring you jd. Com and baidu results. Haidi take a look at how we are setting up in asia, set to rally after u. S. Stocks and bonds climbed on indications of slowly but surely slowing inflation data from that cpi print. The takeaway was that potentially provides affair with a little more room to start easing sooner, even as weve heard from jay powell that in the face of lacking evidence of disinflation or pressures that we may be staying higher for longer. Its a pretty robust set up, sidney futu