What weve seen this week goes back to one of the crises coming out of the 1865 civil war. What a week it has been. What is your key observation on what youve seen . Guy this repricing of risks around the fed, the Ripple Effect of that, and the negative rates has negative consequences. That is the world the market is coming to terms with this week. Tom some of the themes this morning on surveillance from london and new york. Right now, to get you up to speed, heres vonnie quinn. Vonnie the u. S. , russia, and other powers have agreed on a partial ceasefire in syrias civil war. Ofre will be airdrops humanitarian assistance in some areas. Coalition attacks would continue against islamic state. The truce represents a cause in the syrian conflict, not an agreement to end it. German chancellor Angela Merkel warns that the country cant throw away its values. Merkel has launched a campaign for the coming state elections. She is working on reducing the Record Number of refugees entering the cou
Iscal plan luring the european membership vote. Mark welcome to countdown. There are a couple of big things on play. The japanese going lower with the lower band. And the chinese ready to take appropriate action to stimulate their economy. But it will all come down to the perspective and the prism of one group of people, the Federal Reserve and just what can they get away with . This is what im talking about. Youve got a new function on your terminal. It is dots go. If you ever wondered how to monitor whats beginning on. The yellow dots which begin here in the far left and rise are the current dot path given by the Federal Reserve president. Thats where they believe raise hikes will go. That is delivered by the green line. So thats the theory. So the theory is that there will be four rate hikes by the end of 2016. The market is having none of that. The market actually believes there is much less priced into the mark. The rhetoric that is used today is going to define how the market per
Here in london. Im Francine Lacqua. Weve had some news for individual countries. Euro area march manufacturing pmi actually rising a touch, to 51. 6. Compared to a preliminary figure of 51. 4. That gain really comes from germany. Germany saying the manufacturing therising 50. 7 instead of 50. 4 we saw previously. We are getting the headlines from the pboc. We had some china gauge figures. The China Economy operation is stable. What we heard yesterday from s p, downgrading the chinese economy. Given the breaking news we had a couple minutes ago, lets check in on the markets. This is a picture for european stocks at the moment. The new quarter was fresh to clients. Down 3. 5 . Investors today really looking to key u. S. Jobs data for indications of the health of the u. S. Economy as stocks slumping also with oil. Oil at 40. 03. Nejra chinas official factory gauge is unexpectedly jumped, showing improving conditions for the first time in eight months. The manufacturing purchasing Managers
The diplomatic spat between saudi arabia and iran, and the fact that they did not find an agreement. Pullback, widely expected. But you really wonder where they go from here. I do not have a handle on what the next next is for opec. Tom we know who is in charge now certainly when it comes to oil policy, the prince of saudi arabia, and we know that opec a second. Nice bow tie. Francine i wore it tom i wore it for the queen. Francine lets go to the bloomberg first word news. Voted in the congress favor of impeaching recess. Now it is up to the brazilian senate. They say it will be difficult eff to win to rous the vote. The death toll is rising due to the earthquake in ecuador. At least 272 people were killed and at least 500 were injured. Some coastal towns were devastated and many people were trapped in collapsed buildings. In japan, the series of earthquakes that has struck the island since thursday are the nations worst in five years. More than 110,000 have lost their homes. Beth kore
It has gone 6 00 a. M. We have got so much to get through. We have janet yellen and we will bring you conversations around those topics during the show but lets start with something that is happening in the markets in that is of movement on the oil story. This goes back three days and shows you the drop we saw in yesterdays session toward the end of the session. Now the bounds were seeing in oil futures this morning, it is an interesting one. It hinges on report by Energy Intelligence suggesting the saudis might propose an eventual cut in oil output. It might be eventual because it might not kick in until 2016 and it might be contingent on support from nonopec countries. Oil has dropped on reports from iran and iranian agencies suggesting there was division among opec as there often is with what to do with oil output. We will continue to watch what is happening with oil and bring you the latest about central banking. Thell eyes will be on European Central bank. Mario draghi is expected