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
Afraid. Alix the cotton crop is the most vulnerable now. In the markets, this is your job set up in the middle of easing from russia and china. Both of those contributing. Yesterday. Her continue to see some followthrough buying, up 0. 1 taylor the dollar is kind of back up 0. 1 . The dollar is kind of mixed. You had a sort of large selloff block in asia in the treasury market, so that exacerbated yields moving much higher, but crude all of the sudden off by 0. 2 . Off by 2 . Time now for the global exchange, where we bring you todays market moving news from all around the world. Going us from hong kong is bloombergs jeff black, tony ahrens in london, Francine Lacqua in italy, and Michael Mckee in washington. We want to start with china, where the countrys central bank announced it will cut reserve ratios for banks. Bloombergs jeff black is in hong kong. Put it in perspective for us. Jeff good evening from hong kong. This is all about the ongoing slowdown of the chinese economy, the on
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
Almost two weeks. Youre following through on that rally today, up 0. 6 . Eurodollar around key support levels. It is a broadly stronger dollar story. The bond market obviously in focus. No doubt we are going to talk about that terrible, no good, seven year bond option. I wonder, is that a threshold . Or was that just a fluke . David or was it late august . Globalime now for exchange, where we bring you todays market moving news from all around the world. Joining us in london is tony ahrens, on the phone from hong and on theen leigh, phone from when is a race from buenos aires is caroling a milan is carolina milan. Three activists in hong kong were arrested by police head of a rally. Karen leigh joins us with the latest. Karen Hong Kong Police arresting a number of prominent Hong Kong Police arresting a number of prominent speakers, including warning protesters that they could share that same space at illegal demonstrations this weekend. These are really raising tensions ahead of a 13th
Ceo of canadas largest diversified mining company. Have a look at european equities, trading just about 30 minutes into the end of the session. The far left column is equities. We are down for a fourth day on the stoxx 600. The worst run since november. All of these in the second column arising against the dollar mix there for sovereign bonds. Carrier, the dutch mail has the biggest decline since december. It has announced additional cost cuts today to account for this decline in demand for its postal services. Lowering its forecast for earnings this year and aiming to capture the Additional Savings and push through christ price increases, a percent lower. Today we had the euro Economic Confidence rising to the highest level since 2011. That is the wide line. Areas data confirming the economy is in better shape than it has been for years, falling unemployment with weak inflation providing a boost to consumption. We have got a bevy of Economic Data to confirm the improvements in the 19