It is a different set of numbers, but tesla is said to be production after a record quarter. Manus welcome to daybreak europe. Battered, bruised. Im not talking about politicians. Im talking about the pound. Kingdom, in the united sentiment is being battered and bruised, something to do with brexit. Pound faces a twoyear low. Why isnt sterling rallying . If it was such a demonstrative statement in the house of parliament or not, as the case may be. No rate hike from the bank of england until 2020. The worst quarter since 2012. Is it brexit or global slowdown . Have a look at the rest of the world. Bonds are a treacherous asset. That was mngs line yesterday. Back up to 2. 3 . Ratios were slacked to say the very least. Have a look at nymex crude. Inventories. In Credit Suisse with a higher core on the oil market. Nejra have bond traders fallen into a dove trap when it comes to the fed . We look ahead to jay powell. The twoyear back above 190, jumped 22 basis points since the lows in june
Thank you for watching bloomberg surveillance. The stocks europe 600 down a touch. A lot of the focus is on the jay powell. You can see the u. S. 10 year yield at 2. 10. And we are looking at the pound. Boris johnson is the person who will probably become the Prime Minister and keep saying no deal brexit should still be on the table. We seeing Market Movement with the pound extending. You can see cable at 1. 2458. Coming up, we talk commodities with blackrock at 10 30 a. M. London time. But first, lets get straight to bloomberg first word news. China are. And holding the first highlevel talks since a truce was called in the trade war. Top trade officials are speaking on the phone. Larry kudlow says the initial talks were positive. There was headway last winter and spring, then it stopped. Hopefully, we can pick up where we left off. Ambassador lighthizer and secretary mnuchin are exploring all that. Discussions today went constructively. But its too soon for details. Factories and bare
Contributor to americas lawyer is standing by to dig into the details of the drug making deal with the past show to this lets go and dive right in. The continuing and increasingly consequential effects of a trade war between the u. S. And china on chinese tech manufacturer why way lead our global report today the shenzhen based smartphone giant announced monday they are ready ng for a 40 to 60 percent decline in International Smartphone shipments as they face falling sales and a serious and perhaps crippling supply challenge the company has been reeling after it was placed on an entity list by the United States which bars them from being able to procure components from american suppliers while we sustain a 40 percent fall in International Smartphone sales in may compared to the month before while hes president and founder ranging fe spoke about the situation on monday cutting the companys expected revenue by nearly 20000000000. 00 saying quote we estimate will reduce production by 3000
Monday cutting the companys expected revenue by nearly 20000000000. 00 saying quote we estimate will reduce production by 30000000000 dollars this year and the next our revenues will be around 100000000000. 00 while way had previously planned for revenue of 120000000000. 00 in 2019 up from 104200000000. 00 in 28. 00. And signs of weakness in the jet in chinese economy that many or it should be doing in part to the lingering trade fight with the United States seem to be driving the slip and Oil Prices Oil prices fell by about one percent on monday on reports of the growth rate of chinas industrial output falling to a 17 year low growing just 5 percent year over year in may concerns about chinese growth appeared to have exerted enough downward pressure on prices to roughly cancel out the upward push late last week in the wake of the apparent attack on 2 oil tankers in the gulf of oman west texas intermediate futures rose by about one percent on friday while brant futures were up by about
This is boom bust broadcasting around the globe and covering the world of business and finance the impact and the impact upon us all im daniel brito in washington heres a look at whats on deck today while prices are in choppy waters with invent some forces pulling prices in either direction in recent days they must lamo think markets is on hand in london to drill through the market prospects for black gold last swine fever continues to spread this time reaching another nation in africa while it continues to roil markets around the world fred kaufman author of bet the farm joins us to sort through the swine situation and later big pharma is back in the headlines of major drug giant pfizer has carried out yet another takeover barrows contributor to americas lawyer is standing by to dig into the details of the drug making deal with the pack show to this lets go and dive right in. The continuing and increasingly consequential effects of a trade war between the u. S. And china on chinese te