As germanys spy chief says huawei cannot be fully trusted, we speak to the companys officer to the u. S. In this hour. It is 9 00 a. M. Across the emirates, 1 p. M. In hong kong. Im tracy alloway. This is bloomberg daybreak middle east. Manus im manus cranny in riyaad. There is a new globally important date. December 11, their remco ipl will start to trade. The valuation anywhere between 1. 5 to 1. 7, depending on which analyst or moneyman or woman you speak to. 40 from the u. S. The negative Interest Rates. Billion, buthe 15 only one question that matters in riyadh. What is the valuation and who is going to buy their remco ipo . We have a guest later on. Michael thompson in terms of flow of money. Joins me after 30 minutes. We will get his brexit take, the flow of money and how important the region is. Good morning. Tracy lots of interesting conversation coming up in just a few minutes. Before that, lets check in on the markets this morning. The benchmark 10 year yield on china Govern
These are the markets. A little bit of a lift, and a lot of focus on tray concerns between the u. S. And china. A letter concerns with turkey and possible sanctions. Overall, there is optimism about fed policy and when it comes to brexit. 26 and there seems to be hope on the market. It will be difficult on brexit by the end of the week. Thursday and friday is the allimportant eu summit in brussels. Wirecard under extreme pressure. Aumping this morning after ofry accuses the Company Total nonsense. The share price is down 15 . We will speak to the nobel prizewinning economist who won yesterday, Michael Kremer. Time, a london conversation with James Bullard. Brexit. Gan with the eu chief negotiator Michel Barnier saying a deal is possible this week, after the telegraph reported a mood of cautious optimism. The leader of thin land who says there isnd not enough time to reach a deal before thursday. In hong kong chief executive carrie lam denied the city is a police state. She repeated vio
Some pessimism over in europe. The bond rally echoing what we saw yesterday in europe. Yields down by about four basis points. Bank earnings are kicking off this morning. Beats onp reporting everything except equities and trading. Sonali they did not be dont Equities Trading, but they did beat on fixed income, so that is good. They want to be the number one Equities Trading shop, so not beating there is not a great sign. Average loan growth a little sluggish. Jamie dimon put some notes of caution in the initial statement, saying that Consumer Sentiment might be strong, but generally a lot of weakening sentiment here. In the initial statement, they dont give the outlook for Net Interest Income. However, if they revise downward once again, they already revised downward last quarter, that could be a big deal as well. Alix Net Interest Income is 14. 23 billion this last quarter. Walk us through what we did now. Billion . Ed it to 57 to 57. 5he revised it they revised it from 57. 5 billion
Investors seem to be taking that news prewell. I want to point to the that news pretty well. I want to point to the 10 year yield at 1. 71 . Brexit news countered by a little bit of trade news. Guy absolutely. Brexit news helping the pound out, up a little bit. Volatility is spiking on the sterling. The turkish lira down again, but not by that much. Sanctions coming out of washington could have been worse. The saudi market in a bear market. Back to you. Vonnie i do want to point to a headline about gm. As we know, it is in talks with United Auto Workers union. The ceo of gm is now said to be in the room for those uaw talks, and agreement is near. The stock is jumping. Lets see where we are with the performance. Having been , negative at the beginning of the session, on the news that gms ceo is in the room with uaw. Lets get a look now at the major u. S. Bank earnings and the performance today, as you can see. Jp morgan is up 1. 8 . In descending order, city groom down almost 0. 2 , wel
Trade impact on the economy. Lets look whats driving the action britain and the eu coming to a brexit deal although Boris Johnson still needs to win a vote back at home. U. S. And turkey agreed to a ceasefire in syria and despite ibm the overall earnings picture remains strong with beat from netflix and Morgan Stanley leading the market hire. Were happy to have stephanie link here. I know youre pretty upbeat. So far so good. There have been good reports from csx, from honeywell, from United Airlines jpmorgan, Morgan Stanley. Those have been rewarded also other earnings that have just been good enough. United rentals we talk about positioning, people are not positioned in industrials or health care those two sectors are leading the market today is that why we are where we are. People have your view earnings are good enough . Some are good enough but some are good the best earnings picture was johnson johnson. We also had a lot of health care you entitle e United Health expectations if t