Gdp readings are expected to show an 18 rebound from the covid19 fallout. 15 asiapacific nations formally launched the biggest freetrade deal. The accord covers 2 billion people and is a decade in the making. Howi lets take a look at it is feeding through. Havent seen much of a reaction when it comes to the kiwi aussie dollar. We are seeing bond markets the little bit cautious. We are seeing 3 10 of 1 when it comes to trading in sydney. Thirdquarter gdp numbers showing a sharp rebound in japan. We are seeing nikkei futures trading mildly optimistically. That is the picture when it comes to u. S. Futures. Back to thiss get incredible trade deal. After eight years of difficult negotiations, the largest ever freetrade deal has finally been signed. The regional, comprehensive, Economic Partnership includes 15 countries with china, japan, on. Ralia and all of aussie how important is the timing of this considering the damage caused by covid19 . This will be, as trade ministers will say, a bi
This year, last friday, that round of risk off. It underperformed. That is true today. Over the last two days, down 2. 8 , the worst in more than a month. Investors not buying that area. One factor that could be at play, valuation. In blue, looking at the forward pe on the s p 500. Coming out of the financial crisis in 2009, we see suppressed levels for both. Over the past five years, lets call it 14 to 16 times. A pe on thee had s p 500 of about 8. 4 times. Unable to get back to that level. Last week hitting 20 times forward earningss, coming off of that level. It may suggest there could be a little bit of a coolingoff ahead given the frothy trading action. Renita i am looking at an big reduce her. The last timeshares had fallen this much was back in september. Big prices at the lowest for the season and at least a decade. They recently lost one of their major southeastern customers. All around, bad right now. Shut downans to older, less functioning, less efficient plants to defend th
What is happening with the group market, down attached today. Big moving natural gas in the big move in natural gas in the u. S. Kuwaitis and thes may be doing a deal that would bring more to the market. Dennis muilenburg has been ousted as ceo of boeing. Chairman dave calhoun will take his place. Lets bring in Bloomberg Aerospace reporter justin backman. What did milind berg do wrong what did Dennis Muilenburg do wrong . Justin i think the issue was after these two fatal crashes from a Public Relations standpoint, the way that the families perceived him, the people in congress, and around the world come of the perception was that boeing was ready to just move along, fix this and move along, and it really took a different touch for the situation. Guy guy in terms of what this means for getting the 737 max back, does it change anything . Justin i dont think it is going to affect the timeline for the faa and for european and chinese regulators to do their work, but i think boeing is hopi
Crown the world from all around the world. Our bloomberg voices are on the ground with all this mornings top stories. We begin in china, where the government signals a cash injection is on the way to ensure a strong start in 2020. At a meeting in china, the premier said the resiliency is continuing. The chinese economy is resilient. The Chinese Market is huge. We are determined to open up further. We will reach a winwin relationship with other countries, especially with our neighbors. Alix joining me on the phone is sharon chen, the beijing bureau chief. What have we learned from his speech . Give us a backup of the bilateral meeting. Sharon it basically signaled there are going to be product cuts with the amount of cash the banks have to keep as a reserve. Lending to the private sector is a huge part of the economy that china needs to shore up. It accounts for nine out of 10 jobs every year, and it comes after china already promised wideranging set of initiatives that will boost the n
Of western digital. Index just a little weaker on a stronger euro today, just below 97. The 10 year yield at 1. 86 . Above 60 a barrel on all of the positive trade talk. In europe, its been a positive day as well, particularly in france and germany, even though weve had some disappointments out of manufacturing readings. 1. 3 ,oxx 600 holding up and he ftse 100 up another 2. 4 . Add that to the 1 plus gain we had friday, we are seeing a nice gain for the ftse 250, which is more to masterfully focused. But alsois stronger, we have just a little but of strength for the british pound. We saw most of that coming in after the election results. We are back down to 1. 33 now. I want to point to the yuan because we are just below seven. The u. S. And china reaching that much dissipated phase one of the trade deal. Expected to release the full 86 page agreement in early january. U. S. Trade representative Robert Lighthizer says several issues remain. Phase one willr be up limited to the last de