The margins there seems to be more optimism in the markets that the yearend wont bring the crunch we had forecast. This is the picture for european stocks up 0. 1 . 1. 3096. D, a phase one trade deal. At 96. 3,ng in betterthanexpected after they had a figure of 95. 5 and thats moving euro a little bit. Coming up we will discuss the and also dont miss our exclusive interview with the chief executive, thats coming up at 1 00 p. M. London time. Lets get straight to the first word news in new york city. President trump is accusing Speaker Nancy Pelosi of turning chamber. Into a star powerump laying out his and obstructed congress. Later today the house is effective vote to approve two articles of impeachment. The u. K. Credit outlook has been upgraded by both s p and after Boris Johnsons conservative party won a decisive majority in last weeks elections. S p raising the outlook from negative to stable. Fitch taking them off rating watch negative. It removes the immediate threat of a downgr
Lets look at these markets and our into the european trading day. Stoxx 600 in europe up by. 1 . And even start to the trading day. Evenly divided winners and losers on the European Equity markets. Lacking any direction. Into the u. S. , also lacking direction. We have seen a little bit above the flatline. Not getting a great bicker great bit of direction. A big focus on Central Banks and a u. S. And a focus on u. S. Policy. Titians, ay trade tensions, that coming up. Wrist bank leaves behind five years riksbank leaves behind five years. Is now what we are showing you. We were showing you the norwegian krone. Not to be confused with the riksbank. Bank, we scroll back to what they did there. That was as expected. See a to this picture, we number of Central Banks leaving policy unchanged. They were treated for negative Interest Rate hiking. They were moving in their own direction moving against the cutting cycle for many previous months. We continue to do that. Lets get a new lets get an
Today, along with utilities. The dollar index weaker. Lets get to the markets now. Joining us in studio is Dennis Debusschere, evercore isi head of portfolio strategy. We have a great piece on the bloomberg today talking about the decade beginning with everything crumbling and a lot of panic, and now we are heading into a new year when apparently nothing can go wrong. Dennis i think part of the reasons the market is acting like that is because people think everything is going to go wrong. That has created what we call the silent melt up. This is actually related to the fire and ice title, which i think is excellent, because there has been a complete change in the relationship between bonds and equities. Bonds are longer duration assets as they had against lung equity exposure globally. That is usually a deflation hedge. Deflation was not something that existed preGlobal Financial crisis. There areist now, and only three Asset Classes you can hedge for deflation. That has anchored 10 ye
Moving news from all around the world. Delhi, newg to new jersey and washington come our bloomberg voices are on the ground todays top stories. In asia, you had the pboc lowering the rate it charges on shorterterm loans to lenders. Index added 150 billion yuan into the banking system. Joining us is tom mackenzie. Is this the start of an easing cycle, or a shortterm term liquidity crunch into the new year . Tom it seems like more of a shortterm liquidity crunch. We are looking ahead to january, what it looks like you will get a withdrawal of cash out of the Financial System here of about 450 billion. They take that liquidity out ahead of the chinese new year, which comes in towards the end of january. It does seem like it is more of a seasonal effect. More broadly in the economy, credit has been tightening. We saw today from the pboc was some gradual measures to try and address this queasy liquidity, and a couple of basis points and a sevenday reverse repo as well. About 28ly, you got b
President trump is headed to battle creek, michigan, where he will host a campaign rally. An opportunity for the president to give his critique and assessment of that impeachment vote. Herd he already gave critique yesterday in a letter to nancy pelosi. What is the reaction on capitol hill to the president going after the speaker strongly . Erik to be candid kevin to be candid, it is business as usual. Both camps are docked in. I had one senior are dug in. I had one senior aide say we started this process with the expectation Speaker Pelosi would impeach the president by the end of the year and he would be acquitted in the senate. So far, that is where we are. Thanks to Kevin Cirilli reporting from the white house. We turn to Brooke Sutherland topping about fedex. Last june you said they fell out of a basement window. Brooke it has not gotten any better. It is the same old story. I think what his head scratching for investors is how have they not figured it out. They are still grapplin