But the breakdown of oil today on Global Demand is really significant. Under 40, not only but well on to new lows right now, 39. 71 on world oil. It is much more about the pandemic than it is the epsilon off the american election. Jonathan a breakdown on the equity benchmark in frankfurt, germany, the dax suffering. What is new about today . The dollar bid through g10 against e. M. You mentioned the turkish lira this morning as well. The Dollar Strength returns with a bit of a vengeance this wednesday morning. Tom let me triangulate again here triangulate yen here, folks. You throw the dollar out and look at euroyen, and euroyen clearly indicates weak euro. Lisa teladoc a. M. , german chancellor ashtead 00 a. M. ,erman chancellor 10 00 a. M. German chancellor Angela Merkel discussing new restrictions to stave off the rapidly increasing number of cases of covid. Also at 10 00 a. M. , ceos of facebookalphabet, and are testifying to a Senate Committee on restrictions of political messages
It is an extraordinary day. We are to have a conversation here on what do you do with your money given what we have seen. The fed upstaged by the bank of england today with actual talk about the process to affect negative Interest Rates. Jon they have stepped up the flirtation, that is for sure. In the last 24 years, the whole thing is relatively ridiculous. Theyre forecasting 4 unemployment for 2020, 2 inflation with rates still going nowhere. If they are willing to tolerate that, rates are going nowhere for a long time. Tom the dissidents of the press conference was some really weak questions. Right near the end, mike mckee stopping traffic with a question about the efficacy forward, the path forward for the fed. It is a mystery. Jon you brought up this News Conference a couple of times. Do you want to vent a little bit . Tom im going to vent. Im doing this with jon, who has real experience in europe. The questions that the ecb and see morengland informed them what we see in washingt
The simultaneous listing could bring evaluation of 225 billion dollars and may raise more than aramcos record sale. Day twot lady headlines of the republican convention. The theme is the land of opportunity as Melania Trump makes the case for her husband winning four more years. Working news at the moment. We are getting confirmation that the u. S. Business will be charged in a generic drug pricefixing probe. This coming from the department of justice, saying the Pharmaceuticals Company was charged for its role in a saying teslas u. S. U. S. Mers tevas consumers were charged 350 million. It was charged for conspiracy including landmark and glen tech. Nd apple it is falling more than 4 in postmarket trading. Teva pharmaceuticals being charged with conspiring to raise prices for generic drugs. This is after years of pricefixing in the generic drug market. The doj saying it is the seventh company to be charged with generic drug pricefixing. Teva was charged for pricefixing. You can see th
Technology back to the 19th century, yesterday was a bellwether announcement. Applean the idea that made 26 billion worth of iphones and a shutdown is unbelievable. Tom that is a granularity job lisa job. Something on instagram, researches it on google, and buys the iphone. Jonathan you are describing yourself and projecting onto lisa what you are doing. Lisa [laughter] jonathan it will be about the nasdaq and big tech. Rumor, and it is not just us, it is our kids at home. We are trying to give them a screen and throw out parenting guidelines. As we look to washington, d. C. For guidance, there is none. Jobless benefits will expire without benefits past at the end of the day. U. S. Personal income and spending down over the month of june, but it will give us a sense of how much did ulster the saving and spending capabilities of americans bolster the saving and spending capabilities of americans. The university of Michigan Consumer sentiment speaking about a rollover. Jonathan keep your
Moving news from all around the world. Delhi, newg to new jersey and washington come our bloomberg voices are on the ground todays top stories. In asia, you had the pboc lowering the rate it charges on shorterterm loans to lenders. Index added 150 billion yuan into the banking system. Joining us is tom mackenzie. Is this the start of an easing cycle, or a shortterm term liquidity crunch into the new year . Tom it seems like more of a shortterm liquidity crunch. We are looking ahead to january, what it looks like you will get a withdrawal of cash out of the Financial System here of about 450 billion. They take that liquidity out ahead of the chinese new year, which comes in towards the end of january. It does seem like it is more of a seasonal effect. More broadly in the economy, credit has been tightening. We saw today from the pboc was some gradual measures to try and address this queasy liquidity, and a couple of basis points and a sevenday reverse repo as well. About 28ly, you got b