Risk assets take a beating. U. S. Stock features plummet limit dad down amid a selloff. Europe points to more losses and Oil Nosedives below 30 in new york as an opec plus breakdown see saudi arabia prices saudi arabia slash prices. The entire Treasury Curve sits below 1 for the first time in history. The yen surges the highest level in three years and gold briefly tops 1700 an ounce. Billion in counting. That is how much governments have pledged to pump into the Global Economy to combat the coronavirus. But is it enough, the current market verdict is absolutely not. Awaye just under an hour from the start of cash equity trading in europe and u. K. Lets take a look at futures. A sea of red everywhere you look for risk assets. Seene personally never futures this low. Of course i was not here for the financial crisis, but we have more than 6 drop across the board. Features down seven and a quarter percent. Drops inmassive futures. Said,o see futures, as i limit down in the u. S. They bum
Social elect leaders that favor exiting the coalition with the cdu. Narrowing the lead, four of the five latest polls show the Uks Labour Party closing in on Boris Johnsons tories as President Trump visits britain for a nato summit. 7 30 in london and 8 30 in paris or berlin. 29 minutes from the start of the European Equity trade for monday morning and things look flat on the European Equity markets, but that is not necessarily the global picture overnight. U. S. Futures, looking a little more positive. Probably, we are reacting on the Positive Side of things to the data out of china, the manufacturing pmi coming in higher than estimates. That seems to be something that could lift equity markets in the United States later. Futures look more positive for the u. S. Lets get to the Asian Session and the gmm shows us where we are on asian equity markets on the far side of the screen. 4 , indonesia doing strongly and the russian market, not bad. A slight cleaning for the on equityrisk on mo
We will learn later today. A saudi rate output confirms its commitment to stabilizing the market. Questions swirl about opecs ability to manage the price of oil. Let us take a look through 30 minutes until the cash trade right now at the futures action here in europe. We are looking at gains across the board. Fight gains, but nonetheless, green arrows there, slight gains, but green arrows. What do you see for bonds . Guy want to talk about the pound. Bunds pretty critical as well. Let us deal with the first columns. Let us talk about a bit about what is going on here. Im not sure exactly what scream we have got which screen we have got up at the moment. Let us see what happens when i move this. I think that is going a little strange. Anyway. We will come back and talk about the markets in just a moment. Let us go to Juliette Saly for the first word news update. Guy, thank you. President donald trump made more than 152. 7 million and paid 38. 4 million in federal taxes in 2005 according
Emergency meeting today in brussels. Minister,s new oil pumps alfalih, keeps the under pressure. It looks like we will be a positive performance with equities on the front foot. Let me take you to the bloomberg to show you what is going on. Their value is pointing to a dax that will open up. The cac is up, half of 1 . The ftse 100 is up. 6 . Overall, it will open up. 8 . A different story in asia, wasnt it, caroline . Caroline the shanghai composite went down 2. 3 . We are on our worst two day streak since february. Of course, much talk over the weekend that we are still on track for two rate hikes tihs year. Bill gross has said, look, believe the fed. The pound is flat ahead of camerons speech. Oil is at 45. 93. We are focusing in on what is happening with the oil prices, but we have to factor in that news out of saudi arabia. Should we see more voicing that we should not the production cuts . Guy we will find out. Caroline lets get out to david inglis, live for bloomberg first world
After rbi governor takes the market by surprise with a rate cut citing lower energy and food prices. No deal on the line. Blackberry shares reverse course after jumping as much as 30 after the phone maker and samsung deny a report of a 7. 5 billion deal. Youre watching Worldwide Exchange. Bringing you Business News from around the globe. We have just got confirmation that german gdp has come in at 1. 45 . Thats the strongest rate in three years. Its coming in as expected at that moment and the quarterly number shows a big bounce back to around. 5 . It must be hah number. From q 3 which was only. 1 . If we rewind to october when we got it people were fearful that germany and europe was falling into that falling growth falling possibly into recession category and that lead to a big sell off in risk assets. The fact that we can say that germany is growing with friday jillty around it. Germany is the largest economy in europe. A lot of focus on not only the success but the strength in its