Anywhere in the bond market. Crudear yield totally bucking its train from yesterday. Were selloff in over four years. The worst selloff in over four years. We are going to kick things off , the morningtters news that is moving the world. We are going to kick it off with china responding to the trade escalation. Ministrygn spokesperson saying china will have to take necessary countermeasures. We took now to bloombergs chief is a correspondent chief asia correspondent enda curran. Enda a pretty robust response, as you would expect. They said they will retaliate if the u. S. Goes ahead with these tariffs. They stop short on specific details, but the thinking is that china could respond by making life much more difficult for u. S. Companies operating within china that could divert purchases of agricultural goods away from the u. S. And scrapped those promises to buy more u. S. And they could let the yuan soften against the dollar. They probably have some restrictions on what they can do in
Cabinet level officials talking about this, even openly is white remarkable. Is quite remarkable. David something that might be affecting the dollar is the gdp numbers. What is the attitude in the house behind you . It was nice, but it was not the 3 or 5 President Trump promised us. Kevin that is right. Privately they feel that the president has continued to hammer jay powell on interest rates. As a result of the economic landscape, two developments regarding gdp. Robert lighthizer meeting on capitol hill with lawmakers about passing usmca, maybe even in september, and then he will fly around the World Next Week with Steven Mnuchin for china trade talks. A lot of Economic News on what was otherwise a slow friday in washington. David never slow at the white house. That is for sure. Our thanks to kevin cirilli. Now lets get more on those gdp numbers with carl riccadonna. Were they encouraging . Carl the 2. 1 would have been 2. 7 were it not a big drag from exports. We can see the impact
The euro continuing to go down against the swiss franc, piling pressure once again on thomas yourdon. Vonnie here in the u. S. , we are seeing continuation of that decline in equities, down 1. 3 for the s p 500. The nasdaq 100, on some chipmakers we are looking at almost 2 . The 10 year yield has been on the decline a little bit today as well, now down at 1. 84, despite a jobs report that pretty much would have been very pleasing had we not gotten those tariff tweets yesterday. Of course, larry kudlow saying this morning that we will see what comes out in beijing today. He seems to be hinting something would indeed come out of beijing. That said, the offshore yuan is trading at 6. 9721. Theres a big spread between where the yuan was fixed at today, which is stronger than 6. 90, and where it is trading at offshore now. Crude oil futures recovering just a little bit. A huge decline this week, but backup 2. 7 now. We will see some of the market moves and perhaps productively, they are low
Truck slammed into it. Its so lucky that no one was there inside the house sitting in this area when it happened. Let me show you what it looked like earlier. This is what it looked like when it arrivedch the suv was sitting on the side of the house. According to glen arden police it came down the hill. They believe the driver had a medical emergency andcould not stop his vehicle, slammed into the corner of the house and then bounced to the right where it see it sitng. Hear now from the chief of the glen arden police department. When a car hits the house you never know whats going to happen, the house could fall down. Someone could be sitting in a chair so were thankful that nobody is sitting in the house. Oh, yeah. Now, as for the man who was behind the wheel of that vehicle, he was transported to the hospital. They do believe that hes going to be okay. There was some bleeding, but they say ths he in stable condition. His mother was able to get to the scene here. Shes quite upset abou
Forecasts dont take into account that nodeal possibility. This is a key thing that mark carney is going to have to navigate. Heres been a big divergence a lot slowing rate and of people expect rate cuts. How do they forecast this . Do they make separate forecasts based on a nodeal scenario . What will it mean for the pound . Weve hit the lowest since 2017 in todays session and if mark carney does come out with a little bit more of a dovish statement in any way and that puts further pressure on the pound, that of course then could feed into inflation. So hes talked recently about the fact that he really does need to try to illustrate these market activities. Thats what the focus will be. Also of course on new growth and inflation forecasts. The key thing they said is that the uncertainty means a wide range of parts for the economy. There could be volatility during that News Conference. Lisa as we see the pound weaken, weve seen Inflation Expectations pick up. Lets throw up a chart here