Companys shares slumped after reports it could be added to the u. S. Blacklist. Discord rains. Oil retreats as opec fails before todays meeting. The uae and pakistan are said to be opposed to the current cuts. 6 00 a. M. In london. It has just gone 10 00 a. M. In the dad. Rally . Uld stop the maybe if yields bust above 1 , but that looks highly unlikely in a world of quasiyield controls. Good to have you back in hq. Annmarie good morning, manus. Glad to be back in london hq. One of the things the market seemingly continues to forget about, but this weekend we heard from all the top experts in the united states. Dr. Deborah birx saying postthanksgiving we are already seeing the disease likely. S 10 times more awake is w keeps her awake is what could happen after memorial day. Aboutey are dealing with 100,000 infections a day. Manus go to the front of bloomberg. Com. We have the headlines coming up across the bloomberg terminal at the moment. Take a look at bloomberg. Com because at the
Fishing license. Welcome to bloomberg surveillance. Im Francine Lacqua in london. It is the last trading day in november. Certainly a lot of traders will be feeling the same, but stocks are dropping after this recordbreaking rally. A bit of a pullback on the last day of the month, capping this recordbreaking rally. Oil sliding after ministers failed to reach an agreement on supply. Small caps, energy and companies, banks, that group has been leading the rally in november. Today, a bit of profit taking. A couple of other things im watching for is the price of oil. We talked about that, encouraging news on brexit, which is why we see sterling at 1. 3333. The portuguese 10 year yield come i like that because we are on zero watch, or negative watch for that yield. Word newsyour first with leighann gerrans. Opecplus has failed to agree on an allay to januarys height. Many members support keeping production at current levels but the United Arab Emirates and kazakhstan oppose the move unless
Italy lays out fresh plans to halt the spread. Angela merkel urges people to follow the rules. Benefits from volatility, joining european peers posting lowerthanexpected bad loan provisions. A bullish tone with the numbers. Bottomshould look at the line. It stands at 2 versus a year ago. Look at nine months. It basically is ahead of the target we gave for the full year 2020. Headline. The red the savior, guess what it is . Ficc. Fixed income commodity and currency. 36 . Ng rises by it has beaten the estimates out there. Looks like ann marie, lets provision, very much less provisions. 1. 2 billion euros over what we had anticipated. What else have we got . You have the net numbers. That thirdquarter revenue surpassing the one billion euro estimate. Quite a beat. They are bouncing back more quickly than a lot of french peers on equity derivatives. The equity trading revenue rose more than 21 . That beach the highest estimate. Some good numbers coming through. The other big story, we have
Fictitious capital and that you know this is kind of the future that marx would see is that everything is so light removed from Industrial Production or any sort of production or labor that we get to a point a fictitious cow paul and then in that sort of space theres like no limit up really because thats just limited by our imagination right its goes back to neal feudalism in a certain Medieval Church driven notion of how many angels can you dance on the head of a pin right so this bit like Goldman Sachs or j. P. Morgan theyre like how many derivatives can we get to back to you know it can we derive from this nonexistent collateral right thats the same kind of mentality and the leads to a god complex obviously the people the church back in the Medieval Times felt that they were close to got that proved to be not so correct and also the bankers on wall street they believe theyre very close to god as blankfein said hes doing gods work. And that will be equally fallacious well its certain
Feudalism in a certain Medieval Church driven notion of how many angels can you dance on the head of a pin writes of this bit like Goldman Sachs or j. P. Morgan theyre like how many derivatives can we get to back to you know its them can we derive from this nonexistent collateral right thats the same kind of mentality and the leads to a god complex obviously the people the church back in the Medieval Times felt that they were close to god that proved to be not so correct and also the bankers on wall street they believe theyre very close to god as blankfein said hes doing gods work and that will be equally fallacious well it certainly fictitious capital and here is another tweet along that line is well the strongest Gravitational Force reversion to the mean also bring down the stock market the u. S. Market cap has totally decoupled from the real economy and you can definitely see in that 1st car in particular that the real economy it continues to grow like at the rate of gold supplies g