And see where they stand creeping up. Over the seven handle at. 713. Well see what kind of core relation that may have with the equities market. Melissa, welcome to the club this morning it is great to be here and start the morning with you guys. I say that with a hint of sa sarkasm. Shes a regular you are ready to play. Always, you got to bring it each time. No i in team. Theres only a me upgrading laura overnight and learned it is rapidly intensifying and bracing for great winds. A category 4 with winds of 130 miles an hour. More than half a Million People have been ordered to evacuate from these areas 84 of off shore gulf production has been shut in compared to 90 in katrina not only is this having an impact on Oil Productions and industries from this storm that could impact tonight salesforce shares soaring after the Company Reported earnings of 1. 44. More than doubling revenue is above estimates core sales of the cloud road by 13 . The company got a big boost on investments. Guid
Stabilityas brought he brought his three arrows around Monetary Policy, fiscal policy, economic reform area how long will those policies be . Arried on in japan it is certainly something moving fx markets. Tom our Stephen Engle with us in a bit. To 1955, between essentially the rural party, the natural lbp party, and the parliamentarians. Mr. Abe has straddled that divide for many, many years. With our news in new york city, heres what heres ritika gupta. Ritika the longest serving Prime Minister in japans history is resigning. Shinzo abe is stepping down after eight because of Health Reasons after eight years because of Health Reasons. Reports say he has been undergoing treatment for a chronic digestive condition. He agreed to stay on until the ruling party picks a successor. Donald trump made his case for a second term last night at the Republican National convention. He promised to create 10 million jobs in 10 months enter in the u. S. Into a manufacturing superpower. Pres. Trump in
And social distancing measures have disproportionately hurt the smaller businesses. Just this week, companies filed or are on the verge of filing or group c. If they cant filing for bankruptcy. If they cant survive, how can smaller businesses survive . It is an extraordinary divergence between rich and poor, small and big. So Many Companies forced to shut down due to regulations or activity. Meanwhile, the larger chains in the world online players big retailers who make. New york sports club, century 21, lord and taylor, virgin atlantic. An extraordinary divergence happening right now. An unbelievable amount of inequality being compressed into a short amount of time. Romaine if you look at those names, a lot of them are Consumer Discretionary names. If you look at where the bankruptcies have been happening and in what sector, you get a better sense. Obviously, the first thing to go with regard to spending is going to be the discretionary items. Youve seen that come down. 22 making up a
In terms of pmis. May look ata data august manufacturing pmi, 51. 7, in line with expectations. Economists were expecting 51. 7. The dollar dropping to a two year low. U. S. Features climbing after chinese manufacturing data that indicated exports are underpinning a recovery, and the euro leading the charge against the dollar. The weaker dollar fueled commodities with copper climbing. Lets get to the bloomberg first word news in london, this is laura wright. Expectgermany does not economic fallout from the coronavirus to be as bad as previously thought. The updated forecasts are officially released today. Europes biggest economy has staged a rebound after collapsing in the Second Quarter. Global trade is on course to recover more quickly than the 2008 financial crisis, according to germanys institute for the world economy. It said shipping volumes are back at levels faster than it took after the lehman collapse. Argentina has received support to restructure its overseas debt , that pav
Buying longer on that curve . If so, that will keep rates lower. The path we are leading down is not a good one. What the fed is trying to do is what every central bank is trying to do, which is engineer growth. Tyler george bory is with us now. Talk to me about what you have been noticing, your take on the big reflationary trade yesterday but then a little bit of a comedown in yields again today. George thank you for having me on, always great to be on the show. Powelll question is, is seismic shift, or more of the same . The reality is there are some significant factors here. The biggest is the acknowledgment that there has been a Material Change in the economy. Unemployment can go lower than policy makers expect without causing inflation. They have issue is, also kind of acknowledged there is a limitation of Monetary Policy. Those two factors we view as material. Shift,terms of a policy what they are likely to do going forward, it feels like it is very much same game. The way we are