This is bloomberg surveillance. I am Francine Lacqua at the Bloomberg European headquarters in london. We are waiting to hear from the german court of legality, coming up shortly. Meantime, this is what im looking at in markets. The markets are on tenterhooks on this ruling from the german government. I have to say, u. S. Futures are climbing. Sentiment being helped by expectations more economies will move toward easing of lockdowns. Oil on the course for its longest winning streak in nine months. What else i am looking at, earnings. We had b. N. P. Paribas rising, setting aside problem loans but warning fullyear earnings will take a pounding from the pandemic. Rallying after it reported a 35 plunge in First Quarter profit. Plenty more on that, and of course we are waiting for that ruling on the legality of qe from the german court, but first lets get straight to bloomberg first word news, with viviana hurtado. Viviana we begin with an internal u. S. Government projection showing the o
Now out of germany. I have my screen here on the bloomberg terminal. We can see the number coming in a little bit better than expected. The business number at 94. 6, the survey was for 94. 5, and that is better than the 94. 3 that was the prior meeting. The expectations worse than expected, this is where we thought we might see the disappointment. Indeed we got it. We were looking for 92 and we got 91. 3. Course lower. This is better than the estimate of 96. 9. But bottom line is the is atations down at 90. 8 disappointing reading. Lets look at what is going on in markets, a little data check, the stoxx 600 is up 0. 2 . It has been up all morning long. We even have the dax showing gains, 0. 1 . The cac is up as well as the. Tse, 0. 2 we see the individual indexes rising. The euro falling a little bit in dollar terms. Down . 48 a barrel. Crude coming down as we see the u. N. General assembly get ready to hear Donald Trumps speech later today. The u. S. 10 year yield also coming down as
Moments about why they might be. Restarting qe and continuing it until necessary. Now for thetiers pointsand further basis into negative territory in terms of the key interest rate. In the United States, we are up three points for the s p 500. N activist story is doing well value act getting in on carport stocks, up about 8 now. The 10 year yield at 1. 70 . Crude is lower. We will be examining why later on. Just want to point to a strengthening china renminbi as well. There are marginal headlines on china. China is trying to tier talks and negotiations into two tracks. Google is up 0. 75 . We have a settlement in europe, 500 million on the part of google. We will talk about what that means for the company. Right now, investors rewarding the company. Coming up, Marathon Asset Management chair and ceo Bruce Richards will join me. An exclusive conversation coming up in one hour. The European Central bank cutting Interest Rates tend more basis points below zero to 50 now, announcing plans
Good morning, everyone. Good afternoon if you are watching from asia. This is bloomberg surveillance. I am in italy for the ember city ambrosetti forum. Lot to do with the economy, the trade war, with no end in sight. Although the two sides did decide to meet her we go back to our wall of worry. What im looking at. European stocks were up at the open a touch, now they are down. 1 . A lot will have to with the number we get from u. S. Jobs. Looking at treasuries, they are slowing some of the declines we saw yesterday and we shot a sharp selloff. Im also looking at gold. It is probably the perfect litmus test when comes to risk on or risk off. And wti, there is little change their. There. So we will get back to the markets and great interviews, but first, lets get straight to london and first word news. Hong kongs Credit Rating has that is as months of persistent protests and violence continue. Fitch says it is testing the framework that governs the relationship with china. Carrie lam sa
Hard place. Theresa mays brexit transition plan is threatened by centuriesold dispute with spain over gibraltar. Good morning, this is bloomberg daybreak europe. Matt miller is here in london. We need to talk about the asian equity session and what weve seen and what weve seen happening in washington even though most people on the east coast in United States should probably be asleep. Theres been plenty of activity in your. A little bit of an industry here feeling about the asian equity session this morning, so no great big movements coming through, but weve seen some substantial movements in the u. S. Treasury market. 2. 45 is where we are at the moment. Sum consists describing this as eyepopping. Something substantial, what is happening . A lot of people trying to work out what it is. Perhaps a realization that with the tax legislation getting closer, maybe that means more borrowing into 2018. As we said in the headlines, the u. S. Senate has voted has passed their version of the bil