I think the conversation on brexit is continuing to shift but im looking forward to seeing whether janet yellen tackles this issue headon or dances around it. Tom i do not think that is a small idea and i believe she has got to. I would be stunned if she did not directly mention it. Day, Michael Mckee and i will do this at 1 00 p. M. This afternoon. Francine i wonder whether she will focus on domestic risks or international. Lets get the bloomberg first word with nejra cehic. Nejra a new warnings from George Osborne on the risks of leaving the European Union. In a speech he will say that brexit would lead to a 42 billion black hole in the budget that would have to be plugged with higher taxes and cutbacks. The eu is june 23 and recent polls show the leave faction is ahead. Hillary clinton has opened up a doubledigit lead over donald trump in the race for the white house. A new bloomberg poll shows clinton leading trump 49 to 39 among likely voters and 55 said they could never vote for
It is that we have a broken political system we are trying to understand. How did it get to this situation you have with the divided party and what are the repercussions in europe . We are just trying to figure out where it goes and what it means for us here in europe. Tom i totally agree and particularly nation to nation as may makes a visit to merkel today. Now to our first word news, heres taylor riggs. Taylor Donald Trumps son announced that he had the number of votes needed to win the republican nomination. His son says that as president , trump will not take no for an answer. I know that when people tell him and cannot be done, that is when he guarantees it can be done. When someone tells him something is impossible, that is what triggers him into action. Taylor the convention also nominated mike pence. There will not be any hard targeting when theresa may meets with Angela Merkel. Merkel has said there will be no concrete negotiations until the u. K. Triggers the clause. May and
Good morning and welcome to a very special edition of Worldwide Exchange. We are live in london today. I am sara eisen. It is a new day in the uk. It certainly is indeed sara. Im wilfred frost. A very warm welcome to london from me as well. We are across the river thames on the day that uk voters have backed an exit from the European Union. Trait to the the Market Reaction which is severe. The center of the storm t british pound plunging overnight to a level we havent seen since back many 1985. A record fall for the currency. Currently trading at 138 wilfred before many people here went to bed last night, the british pound was at 150 on optimism that britain would stay in the European Union. The vote goes the other way and the pound plummet. Hitting a low this morning of 122. 39 a 30 year low. Records are being shattered across the markets. The euro a record plunge for the currency since its introduction back in 1999. Lets show you do euro against the u. S. Dollar. 111. 23. The concern
Inflation. Welcome to countdown. Happy friday. Nejra im nejra cehic. Manus and i manus cranny. We will get to the geopolitics of north korea and south korea at the moment. But have a look at the bond markets. Are we reaching a capitulation point for building up to one in the bond market . By 2 . Ond yields, up we want to look at the japanese bond yields for capitulation. Here of the global bond yields. Cracks are beginning to appear. Draghi, did not even discussed quantitive easing. Mark carney says the bank of england is not triggerhappy. You can see the beginning of a movement. What are we focusing on the jgb market . Because of the correlation. The correlation between the jgb market and the rest of the market. I think the other thing you can see as well, the 30 year spread. We will hear more from Jeffrey Gundlach later in the show, saying, this is a warning. More on that i look of it later. Nejra that is a great chart. The question is, is japans bond route going to seep into the wor
I am Francine Lacqua. Lets get straight to the markets. That is where revenues coming from. For the first time in a long time, were going to start with currencies. 14. Pound below sayingchanges investors whatever happens, the pound will go lower. The stoxx 600 down 1 . I want to show you eurodollar as well. The ecb will have to consider going into more negative territory. Well get you oil and the right price very shortly. I think that may be copper. Lets get onto copper because this is where we see some of the biggest falls overall. Get to the bloomberg first reviews with nejra cehic. Nara . Declinesl has extended after iran says was ridiculous. Irans oil Prime Minister says it is unrealistic demands on his country. Shouldcost producers bear the burden of the surplus and has reaffirmed the kingdoms commitment. Donald trump has won the nevada caucuses. The nomination the when makes him the victor in three of the four steps that have voted on the desk for states that have voted on the re