Is long europe and along french financials still. To buy Christian Dior. Is this another bet on global reflation . Just a halfhour away from this tuesday open of the european session. I just want to point out we are looking at gains in futures once again today. If you expected another pullback after the big games that we saw in european, Global Markets yesterday. You might be slightly disappointed this morning, ishough the ftse move mispriced down, so maybe we will see a drop there. Also, look at the bonds right here. Not a lot of change from yesterday. This is a threeday chart, so you can see on the second day of this chart, the big game that we had in bund yields, the big drop , but not a lot of movement. Although 08 t yields continue to fall a little bit. It will be interesting to see how things shake out in other asset classes. Guy plenty to talk about this tuesday morning. Lets talk about what happened yesterday and rolled into today. Massive monday. A fair way to describe it. You
French president due to his lack of popularity. And pobama becomes an obstacle as he says he will block a chinese takeover. Welcome, its friday. And not the casual friday many people were hoping for. We have the italian infrastructure, austria elections, nonform payrolls. And more nominations for cabinets state side. Which is causing people to be nervous. Here in europe, we were mentioning the italian market, we have seen a recovery in the last laugh an hour or so from some of the early underperformance from some of the italian players. The referendum on sunday super important and well be crossing over to julia to get more on the latest of what to anticipate and why its so importantly. We have seen the italian banks continuing to come off a little bit, but again some of these losses that we saw earlier this week having just mild they have neutralized a little bit. But italian banks and stocks have been higher for three days up until today. So we did see narrowing of short positions the
Her policy experience into a clear vision . Welcome to the pulse live from london. Im francine lacqua. We have a great show lineup for you this morning. We speak to the ceo of the. Orlds biggest reinsurer as we wrap up a week of European Bank earnings and look to stress test results this evening, we speak to the ceo of the british bankers association. That is at 9 30 a. M. Lets check on the markets. A lot of market swings. 103. 65 is where we are. The boj opting for limited expansion. It did say it will plan to reassess the policy. It has already been three years. Stocks, iuropean dont know if i would call it unchanged or slightly higher, but we had a lot of earnings news to digest. The banks have been under pressure. We are expecting stress test results this afternoon. Watch out for ubs and barclays in particular. Lets get to the bloomberg first word news with caroline hyde. Caroline Hillary Clinton says america is at a moment of reckoning and has belittled Donald Trumps claim that he
Dividend. We will speak to the ceo of one of the Worlds Largest Hotel Companies in just a couple of minutes time. Hans, good morning. A number of things going on. Yen one of the big movers overnight. We need to Pay Attention to it. Hans we have this axis then show crisis by mr. Kuroda e xistential crisis by mr. Kuroda in japan. I think its one of the main stories, not the only story, but one of the main stories driving this sentiment. Uy the market already got there and it seems to be increasingly ahead of the central bank. Look at whats going on with the fed. We will talk about blackrock later on. Right now. About this let me show you whats happening on the terminal. At ise are looking probably markets coming up by about. 8 . Likeean stocks look theyre going to open a little bit softer in around 29 minutes time. Hans weve got to take a quick look at the assets out there. Sentiment inisk the treasuries, down to about 1. 75. On the 10year, pound continuing to weekend. Weaken. Lets get t
Ulse. If they are having to cut Global Demand for the first time in five months. Overall, the ink the price of oil will rise. They are seeing a nonopec output estimate. The chunk of global out of its that opec does not control but would like to see cut may actually be cut. That is good news. It is anyone within the opec complex but they have been cut by the iea. These guys want to see it handinhand with them as we try to manage the markets. We can see what is happening here. We are up over 1 as you can see. Switching directions. Yesterday confused them. Some interesting headlines coming out of the iea. The Swiss National market to raise the cap on the swiss rank. It is surging as much as 41 yesterday. Lets figure out what is happening here. Hans nichols is in zurich. I guess the morning after the night before. The morning after there are two questions dominating the conversation. What does this do to the swiss economy . The middle companies have a high labor costs. They still pay in sw