Market. Feeling some tailwinds out of we did not go into this week with a worstcase scenario. The u. S. Government will remain open. We did avert a shut down. Getting initial reaction. Nasdaq futures pushing close to 1 higher. Rishaad dell futures are down. Yvonne there was no a whole lot of banks leading up to it. The market recruit reprieve may not last too long. Youre still talking about higher rates. Rishaad we had first threemonth quarterly loss for the s and p. You have a lot to be playing. We have the 10 year auction coming up in 10 days time. There is a feeling you could see yields going up. Also got a lot of movement for the yuan. Offshore. While the cat as a way the mice can play. No cny to act. A lot of dollar swings. Yvonne the longest break of the year. Rishaad it is a dollar story anyway. Yvonne you take a look at where people are positioning, are things looking when it comes to hedge funds . David we did see that longs pickup second or straight week on the greenback. The
Congress narrowly averts a disruptive shutdown, keeping the government running until midnovember. Buying bonds. The boj announces another bond buying operation this week. Plus, taxing time for rishi sunak. U. K. Prime minister plans to untie his party despite senior colleagues calling for senior tax cuts calling for tax cuts. We have a host of big interviews today including chancellor jeremy hunt and the jp morgan ceo, jamie dimon. First to the markets, it is a relief after the worst quarter for equities since 2022. The relief this morning is thanks to the fact that we have averted a Government Shutdown, but how long can that last . 45 days into we will have this shutdown debate again. Most of the relief from large cap tech. Nasdaq futures up 7 10 of 1 . This is not unusual. The bad news for equities is yields continue to march higher. The bond market selloff continues. Maybe now that we dont have a selloff, may be the impetus isnt to buy treasuries. Lets show you what 10 year yields a
A key conversation. David Central Banks prepared to talk about talking. Yousef it is 8 00 a. M. Across the emirates. This is Bloomberg Markets middle east. I am yousef gamal eldin in dubai. David some markets entering a lunch frank here. Lunch break here. Nothing really happened this morning. Nothing moving the markets. Changes,pacific, some but there we go. That tells this story. A very uneventful day for markets. Copper a pickup overnight. A lot of big contracts. A little more upside now, 1 . Have a look at my bloomberg chart. Yields nowyear bond crossing 4 for the first time in three years. Andmber of brokerages analyst saying because we have crossed this psychological line, prepare for the bond rout to deepen. ,nflation might be picking up and this deepening Deleveraging Campaign is making its way through the system in the form of what we showed you there, higher yields on the mainland. Yousef some other asset classes, hedge funds now working on rising crude. Take a look at what th
Abu dhabis National Energy company, another m of prolonged resist and oil. Its 8 00 a. M. Across emirates, this is Bloomberg Markets middle east. Get you up to speed in terms of the melody, the rhythm, in terms of equity markets in this part of the world. We are two hours away from the open. This is how the gcc pans out. You can see Downside Pressure that oil price is putting significant risk into this equation. There is a lot more conviction in overall volumes. A 60 jump. Retailer is jumping a 10th of 1 . Of telco down 10 . Also more petrochemicals are expected to report earnings in the coming days. Saudi stocks of been the worst performers in the last trading day. Egypt and oman were close for public holiday. We are looking forward to some Inventory Data from that your iap we are seeing big moves on the gcc bond. Bits tightening a little further. As the optimism and equity rallies, the momentum continues 1060 4000. T turkish lira is in focus because we have the Central Bank Decision
Bid. Shery expect profittaking. It is 8 00 a. M. Bright and early in to buy. I am yousef gamal eldin. Shery it is midday in hong kong. I am shery ahn. Taking a look at the asian markets. It is a mixed picture across the board, the hang seng gaining. 3 . Lot to do with just optimism across the board, but function,u look at my markets a bit more subdued for a monday, excellent data out of japan, but also president s day holiday in the u. S. , the dollar index study, losing a quarter while steel is leading the gains when it comes to commodities. Gains seeing doubledigit for steel rebar futures contracts and china. Look at the strain to year yield down to basis points. The 10 year bond yield finally declining after six Straight Days of advances among but i get ahead of myself because so much uncertainty out there. I cant say it is an optimistic picture just yet. Yousef we look at the conventional metrics and a lot of these Asset Classes, for example, u. S. Treasury yields, but let me show