Debt default in argentina hit 75 as all the nations assets plunge in value. The embattled president warns against a return to the previous regime. The greatest problem we argentines have day is that the alternative to the government doesnt have international credibility. Ive been saying this for three and a half Years National investors dont trust us. Protest fallout. Hong kong stocks lead declines tearfully the ceo decries the chaotic situation in the city. And lower for longer. U. S. Bonds hold onto Massive Gains as the spreads hit their narrowest since 2007, negative rates coming to america. Good morning and welcome to bloomberg. First off, i have yield on chinese tenure debt falling to read percent, the lowest weve seen it since 2016. Ats not just europeans negative, u. S. Debt is falling to record lows. Lows the likes of which we havent seen in a few years. Futureseuropean reporting down across the board and right now we are looking at dax futures down. 4 , cac and after we sawis
Stronger level than expected hours after the u. S. Tax beijing and fx manipulator. Stocks shaken. Chinas intervention helps asian equities reduce losses and wall street higher after the worst drop in ae date year. And cutting the session in the u. S. Could the 50 point fed cut come in midseptember . Good morning. Matt where less than half an hour away from the start of european trading. We are less than half an hour away from the start of european trading. Coming down to the the lowest election. E the 2016 the bounce back recovering up to 1. 75 at the moment. Take a look at futures. We saw a earlier bigger gains in futures and then we see then we saw now. U. S. Futures are rising fairly substantially. Dax futures are up. 2 of 1 , byure as ftse futures down. 25 of 1 . What else do you see on the gmm . Yuan suggesting that fixing and working out with a they want to bounce this morning or in europe. We did see losses in the asian equity session being pared back as a result from china fixi
Growth overseas. And a promise and a warning. Talking about Nuclear Weapons and at the 2015 Iranian Nuclear deal. Lets get started with a check of markets. We saw the s p. , 500 fall for a second consecutive session, and finish below the 3000 level. Industrials leading the declines. The dow also down 4 10 of 1 . We have the dow transportation average, a gauge of economic growth, sinking at one point to its lowest since december. A mixed bag of corporate earnings, not to mention lingering trade tensions between the u. S. And china. Unchanged. Lets look at how things are shaping up for the asian market. Looking quiet on the trading front. Volumes likely to continue in asia, futures pointing lower. Stocks adding about 1 10 of 1 . Central banks and earnings will be top of mind. The jury is out on the bank of indonesia, cutting rates today into the chip sector is on watch, following earnings from asml that got a boost in 5g. And also on tap, japanese trade numbers that may show weakness eas
A look at these currencies, hich we appreciate the dollar, as we do have dollar weakness. Lets get to the hang seng. Its beating all the worlds major equity gauges this week barish thing. This this isnt necessarily a death ross, its a 50 day moving average, rather than the hundred day one. 200 day line but quite often does proceed market declines in the past and investors arguably may be about too optimistic next weeks meeting between xi donald trump. There could be an overreaction to the current position with that. To hang seng giving up some of the guns but not by much. Well see what happens. Ets get more on the markets right now. A good one from our global editor. Cs and policy kathleen is with us. Lets start with you. Aid is more of dove for markets to drink . I think the oomph, the push jay were seeing from powell and the fed, its running its course a bit. Know, 10year treasury yields fell to 2 and pushed below a little bit but i also noticed they are failing to hold below 2 so it
Potatoes. This is Bloomberg Markets asia. Haidi small potatoes. Investors have been caught on the wrong side of the bed. A blogger saying it is like a horror movie that you just have to keep watching even though you know exactly what will happen. Lets look at the steepening declines when it comes to japanese equities. Korea taking the brunt of the selling. We are seeing selling across the board. The nikkei 225 down 0. 7 . Lower. Ix 4. 4 the s p as you said, entering true correction territory. David we are very close to that level here in the asiapacific. We put everything together on the msci asianpacific. Take a look at my chart, g btv 6180. The red line at the bottom is the threshold. We are getting very close to that. My gut is, once we get hong kong up and running, that will give more fuel to the downside. That. Happens in about 30 minutes that happens in about 30 minutes. We have taiwan, singapore, asia. Markets mays like be suffering from motion sickness, given the turbulence acr