Those arrive in london today, and the pound appears to gain after jumping to a sixweek high. This is surveillance. Eldinusef gamal in dubai. Toew fiscal stimulus impact mitigate the impact of the coronavirus. Reflecting that degree of caution, a little bit lower at the moment for the s p 500. At the same time, european stocks are falling for a fourth straight day. What is happening in the states is the bund rally is likely to pick up momentum again as the focus shifts away from global input to some of the deteriorating domestic fundamentals. Think along the lines of the german confidence data we got, the yields near the sevenmonth lows we had. Benefiting from the larger dollar risk aversion. It is very much strengthening over the past month, and at the goldt, the philadelphia and silver index up about 1. 4 . Lets check in on the first word headlines for you and toss it out to leighann gerrans. Hi, leighann. Leighann good morning, yousef. Growing signs an agreement is insight. Negotiati
Of tech trade war, while the streaming giant netflix misses estimates. Welcome to surveillance. I am yousef gamal eldin in dubai. Assetse risk eye firmly bid, the state of play of the s p 500 currently called substantially higher after of course the earnings picture continues to fill overnight, including from netflix, which came through with a miss. Latest lawsuit and the uncertainty in stride. U. S. 10year finally Getting Movement in the last 10 hours. We are at 81 bits, and the selloff really taking a little bit of momentum over the last few hours. Behold yield curve beyond five years is trading at four month highs. It is not a volatile rising bond yields. It is doing nothing to help the dollar, though. On the currency note, you have traders testing the chinese governments tolerance for a strong yuan. A major move in the u. S. Fx space keeps rallying, no matter what officials you doing. Gold getting a list as well, up. 7 . Keep an eye on that trade is what Billionaire Hedge Fund mana
Day . I am a graduate of duke university. I got a scholarship there, but not a basketball scholarship i assure you. But i would like to own an nba team. I have never had the chance to do so. But mark cuban is someone that did that at an early age. As a young man, he bought an nba Basketball Team and won a national championship. Because of that, i always admired his sports prowess and business acumen. Me,hildren have always told dad, youve done ok, but mark cuban is a lot better. You have at an early age made some money. You made an enormous amount of money when you sold broadcast. Com to yahoo and made over a billion dollars, then you bought a Basketball Team. Then you have a shark tank emmys that won an award. You are well regarded by entrepreneurs. President s of the United States call you for advice. There is something about your life that isnt perfect. Mark i have kids. I have a 16yearold daughter and a 14yearold daughter. That is all any parent needs to hear. It doesnt matter what
Shortly. Onhave got hopes of progress a vaccine and signals that they are making progress in terms of the u. S. China trade tensions. Both of those really firmly supporting the risk rally that we are seeing. Let me show you the state of play with the stoxx story. The back ofming off record highs in u. S. Stocks. The good times might not last, according to morgan stanley. They are saying the market is vulnerable to shocks, especially rising rates. Treasuries are on the back foot as we speak. We are looking at a weaker greenback. 830. Dollar at 1. 1 yeah,ps a little bit of a strange one given the wider risk appetite. The folks at pimco saying the gold rally is it played out yet is not played out yet. They believe gold remains attractively valued, especially in the context of low Interest Rates. Here are some of the stories we are watching. Both of the u. S. And china are seeing progress under their phase one trade deal. They are committed to the success of that. Senior officials from the
Dividend plans. Welcome to surveillance. Im yousef gamal eldin. We have a situation. The countdown of the trade deal between u. S. And china is being factored in the wider picture. The stoxx 600 is up three tens of 1 , traders looking at two more stimulus measures. The president s actions appears to have bought enough time to get people back to the negotiating table, slightly risk on. Thats getting reflected in the brent crude trade, just below the 45 a barrel handle. We are snapping a today losing streak. Indications from saudi aramco are bullish. Asia getting stronger, as well, back to previrus levels. A little downside. A weaker dollar but the g10 players can find a narrow range ubsu. S. 10 year yields says go short on the five year yield. Plenty to consider, plenty to get through, lets get the first word news with leighann gerrans. Leighann good morning. Billionaire bill gates says its mind blowing the government hasnt approved coronavirus testing. Cnn, he cited long lines at comme