Politics and economics here. To my knowledge, nobody has asked for clearing to move from a business standpoint. Francine good morning. This is bloomberg surveillance in london. E lacqua we have a lot to get to. The fomc meeting some underpinning everything we see on the market. Bunds are very important because they are getting closer to taking out that 0. 5 yield level by the day. Todays push could be coming som comments by the bank nonstandard measures. Oilnted to show you crude as well, 45. 47. Lets get straight to the first word news. Reporter the United States has warned military action might be necessary to deal with north korea. This is after the test of a Intercontinental Ballistic Missile on tuesday. The United States is prepared to use the full range of our capabilities to defend ourselves and our allies. One of our capabilities lies without considerable military force. We will use them if we must, but we prefer not to have to go in that direction. Reporter the Trump Administr
We have a packed and great show for you today. We speak exquisitely to the ceo of italys biggest bank. Jeanpierre mustier. In 10 minutes from now. And in our brexit show at 9 30 a time, and another exclusive and that comes from terra firmas justin king. Breaking news out of china, on a day where we are seeing nervousness on the market spirit and this is what we are seeing on these China Foreign exchanges. For the end of june, coming in 5 trillion, below what economists were expecting. Lets check on the markets. Overall, its the selloff we were talking about yesterday that seems to be continuing. So, were seeing a little bit of a repricing on some bonds. Bund,year german yesterday at this time we were at 0. 49 , then we touched 0. 5 , 0. 57 . That means there is a little bit of a repricing, for example in the italian. You can see this index at 12. 52. Lets get the first word news. Is being seen as suspect behind the hacking of a dozen power plant. A Nuclear Facility in kansas was among
Beating Goldman Sachs. Coming in atates 1. 5 billion. R. O. E. Over 9 . There with us to discuss is Alison Williams of Bloomberg Intelligence. Your take on the earnings . Too few things . Wealthover 9 and their margin coming in at 25 . We saw that strength at bank of america, we saw strength at wells fargo which was a precursor but those are key metrics. They focus on that r. O. E. And the margin is one of the goals they focus on to get there. Fixed debt in line, the banking fee is something we have seen. Alix what have we learned about Morgan Stanley on Goldman Sachs . Is it all about commodities . It is more execution. Alison it to be a little bit of both. Every quarter is going to be different in terms of where the strength of the overall business is and depending on where the strength in the industry is, that is going to impact who is doing better. And of it is just business product but goldman also says for a Second Quarter in a row they did not navigate markets well. That is what
Comes on the heels of a disappointing quarter that saw the firm notch its worst ever results in the commodities business they say this is kbws note today we have more questions than answers about the franchises health at this point in time. Should we . Well. You take one quarter two quarters of bad trading yeah, we can ask the question. I think the question is a little bit bigger than one or two quarters this is a firm that over decades has had a little bit of a tugofwar going between Investment Banking on one hand and trading on the other hand. Youve had a guy at the helm for ten years thats a trader extraordinaire in years past youve had Investment Bankers like hank paulson running the firm i think the question is where are the Investment Bankers picking up slack from the trading which in the last two quarters hasnt done so well is it time to rethink owning this stock it is time to rethink it but when you rethink it youll come out its 1. 2 times book value. It can get a little bit ch
With a full round up of all the days news but first of all hard talk with stephen sackur. Welcome to hardtalk from singapore. Im stephen sackur. This citystate is one of the remarkable economic Success Stories of the last 50 years. If you want to find a place that has ridden the wave of globalization, well, this is it. But storm clouds are gathering over singapore. President trump is challenging assumptions about global free trade, Security Tensions are rising across east asia. I have an exclusive interview today with the Prime Minister of singapore, lee hsien loong. Is singapore feeling vulnerable . Theme music plays. Prime minister lee hsien loong, welcome to hardtalk. Lets start with the International Political climate. Donald trump is now president of the United States. He talks about protectionism, he talks about ripping up trade deals that have been bad for america. How dangerous is this new Political Climate for singapore . We are watching it very carefully. We of all countries