You can see individual markets and you can see how we are seeing most of these north asian performers here. Hong kong is up about. 6 . We just heard from carrie lam who said the social distancing measures may be on for a while in the city. Jakarta coming on pretty strong. We are counting down to that rba Rate Decision and the budget announcement. Super tuesday in australia. We take a look at the yield curve as well. That will be the story here. A massive steepening overnight. Take a look at the two and the 10. As well as the 30 year. That yield reached the highest since june as we continue to price in this blue sweep. Powell the fed chair jay speaking later on. We will watch the aussie 10 year. 89 business points for the aussie tenure. The dollar also selling off on expectations of more fiscal stimulus. You do have the aussie as well. That has been gaining ahead of that dual announcement coming through. Heading closer to 6. 7. Haslinda we want to show off u. S. Live pictures. Mike pomp
U. S. Took preemptive action in terms of export controls for the city. Yvonne the one thing the chief executive has said is u. S. Sanctions will not scare us. That is the latest response from carrie lam. Given what weve heard from the u. S. Recently when sanctioned chinese officials over the security law, and also now as you mentioned, paring back trading benefits that hong kong has enjoyed with the u. S. As well. The market seems to be overshadowed by better data. Pretty early when it comes to pmi data in china that came out at the top of the hour. It seems like at this point its really about the fundamentals more than the politics that is driving this rebound we are seeing in risk assets today. Look at the asiapacific benchmark, up 1 . Set for the best quarter since 2009. Still, asian stocks have not really recouped most of the losses we saw in the First Quarter, but certainly u. S. Futures pointing positive as well. The hang seng still up 194 points despite what we have been hearing
Is something you are trying to achieve . Carrie first of all, in very clear and strong terms, i have to refute the second point. Still verym disappointed that my remarks in a totally private, exclusive session, which is a lunch, actually, which clearly is subject to checks on house roles rules, had been recorded and then passed to the media. I think this is quite unacceptable, ok . So, to further suggest that myself or the government have any role to play in this thing is absolutely unfounded. So, that oinp point has to be made extremely clear. On the first point about resignation, i said on several occasions previously and also reaffirmed by my colleagues and the chief executives office, in response to media inquiries, that throughout this period, from the very beginning until now, i have never, i have never tendered her resignation to the central peoples government. I have not even contemplated to discuss a resignation with the central peoples government. The choice of not resigning
Story of the day, congressional testimony from j powell. The fed chair j powell maintains the economy is in good shape, labor market is strong with inflation coming down but the fed needs more evidence on inflation coming down before cutting interest. How much evidence . Maybe is not as much as we previously thought. More evidence that ill give us more confidence that inflation is on a path down o 2 sustainably. Not looking for better readings then we have had, but more of them and what will happen is as we go forward, 12 months will continue to drop. Because it will be lower than early last year. The first of two days of testimony before congress j powell says the fed can cut before it reaches 2 , he does not believe the economy is close to recession and higher bank capital rules could be re examined. He says it is possible before it goes to capital higher levels being withdrawn, they could be reproposed on commercial real estate. There will be losses, it is a serious problem, but mos
European equities are trading. Just under 30 minutes left in the trading day. Luxembourg is up and iceland is down. Everyone else up driven by corporate earnings with two main currencies rising against the dollar. The others are declining. Big moves in the periphery bond ,arket in france and italy switzerland, netherlands, all those yields rising. The grease yield is falling. Ave seen a failure to strike deal over a plan. Busy day for corporate earnings. The Second Biggest Bank reported a 20 drop in quarterly profits. Setting aside provisions to court with a european ruling on adjustable home loans and announced plans to switch and all Cash Dividend next year. Revenue from lending was better than expected. Shares down by 1. 9 today. Euro area manufacturing expanded at the strongest pace in nearly six years. Is euro areae manufacturing. Germany is the other line. Input costs,nies high demand driving price growth to the fastest gain in five and a half years. We have had strong days with