The recovery is under threat from the covid19 resurgence. Frydenberg says the other plumbing rate will jump in the coming weeks. Economy and the government handling of covid19. A look at howake we are shaping up for a new trading week in asia as the market continues to search for direction. U. S. Stocks trading close to fresh highs. We had the stock market up for a fourth straight week friday amid albeit light volumes. Up. 2 this morning and asia and we are seeing positivity going into the start of trading in japan. We have one report Prime Minister shinzo abe is headed back to the hospital so we will continue to watch that story. And the potential applications for policy continuity. Japanese yen Holding Steady at 105. 86, with a rebound in the friday session. Rise in u. S. Treasuries. At 42. Crude trading 49, ending the last week its advancering in asia. Shery lets talk about china. Beijing is offering support to strengthen hong kongs role as an International Financial center. For mor
We are going to talk to the cio of capital. It with some of the atlantic you want to put your money in . We will talk about that in the United States. U. S. Labor market continues to be a big focus. The jobless rate is 10. 2 . Ofs is quite a bit shutdowns, a lot of hotspots. Jonathan ferro talked to larry his take in that. He was raising that point about the hotspots and how good he thinks this number is. Is july 20. Thesurging hotspots in south and west in other places began in the back end of june and lasted through july. There was some pullback of reopens. 1. 8 million. That was a big decline in the Unemployment Rate. This will move the Single Digits easily in the summer and fall. That is larry kudlow talking to Jonathan Ferro earlier on. Larry kudlow is trying to put a positive spin on things. This looks like a good report. Is a good report . We made progress. Thats the important thing. We didnt backslide. It was a very wide range. There has been a lot of noise coming from a variet
Driven by a weaker dollar. Whereturn to istanbul, bloombergs Turkey Bureau chief is standing by, and chris reiter is in berlin. President erdogan has sounded out again, ahead of the central bank decision. What can we expect today . There is a universal expectation that there will be a cut in Interest Rates later Turkish Central Bank Monetary Policy convene committee convenes. What we dont know is how much. If the decision is in line with estimates, which predict around thet of 150 basis points, rate of return on the turkish lira adjusted for inflation goes down to 1. 9 . Thats a crucial number, still above the average of real return e. M. s, which turkey is considered part of, but below countries that turkey is usually judged against like russia and south africa. We have seen anxiety in turkish markets over the last week. The lira has been weakening to levels not seen in about two months, and the decision at 2 00 p. M. Will determine the Market Reaction later today. Matt more Central B
Looking at the european stoxx 600, some downward pressure. The focus is on the trade deal. It is a partial trade deal. Will not round tariffs go into effect. A lot of focus on the chinese economy. The other big story is brexit. 125. 66 is where we are seeing cable at the negotiations are ongoing. And there is a brexit summit as we like to call it with eu leaders in brussels on thursday. Coming up on bloomberg surveillance we speak to the former fed governor. Nobel also expecting the prize in economics to be announced later today. Let us get straight to the bloomberg first word news from new york. Says he ist trump ready to go with more tariffs on turkey. This comes after the u. S. Withdrew troops from the north of the country but the move has pushed kurdish fighters into the arms of president assad. Forces from the Syrian Government are returning to the northeast for the first time in years. And spains top Court Sentenced cut elan separatists catalan separatists to 13 years. Former cat
We are seeing a markets trading sideways. A lot of the focus is on potential risks and the potential headwinds that could hit the markets quite hard. A lot of it to do with geopolitics. Keep an eye on the u. S. China trade talks. You can see the stocks europe 600 gaining. A similar move for the s p 500 futures and the 10 year yield is at 1. 54. Coming up, we will be speaking to the shell chief executive. Dont miss that exclusive interview just after half past 10 this morning. Lets get straight to first word news in new york city. Balance sheet growth resumes for the Federal Reserve chairman Federal Reserve, chairman Jerome Powell says dont confuse this for qe. In no way beuld confused with the largescale asset purchases. Neither are the recent technical issues nor purchases of treasury bills we are contemplating to resolve should materially alter the stance of monetary policy. Chairman powell also hinted at the possibility of another rate cut. He was confidence the economic expansion c