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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

Today toe all of you extorting there news flow. An to an extraordinary news flow. An election in five days. Markets, there they are, and reversal. You see it in the futures of the s p 500. Jonathan we are down five on the s p 500, 0. 2 . The bounce in europe was never convincing, and the bounce in the United States has not held up. Eurodollar clinging to a 1. 17 handle. The ecb is getting what it once for all the wrong reasons. A weaker euro for a fourth straight session off the back of more restrictions in germany and france in the past day. A 1. 16 handle, that will be symbolic. Of course, distracted by the death in nice. Lisa abramowicz, what was so clear yesterday was that the bond market did not move, and that it did. Lisa to me, this is the story of the week. Weve got very hardcore risk off in response to very real threats of a widening pandemic. Treasuries are not the hedge they used to be. Yields rose yesterday, which is ex ....

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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

Surveillance. I am Francine Lacqua here in london. This is what the markets are looking at. We are trying to look out for any spot here in europe. Are am looking at what we in general focusing on, of away fromare that key data hours away from that key jobs data in washington. Of course labor day holiday, gold taking higher. Now lets get to the bloomberg first word news in london with leighann gerrans. Hi, leighann. Leighann good morning, francine. Avoiding a Government Shutdown right before the president ial election. Sources tell bloomberg House Speaker nancy pelosi, treasury secretary Steven Mnuchin and made this in full agreement on a phone call on tuesday. They were on a stalemate after virus relief to hold up a virus a stopgap spending bill. Meanwhile,
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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

Lift. But i do not buy it for a minute. Jonathan it is tricky. You have to be vigilant about the downside risk, but you do not want to boost the euro. That is the fine road it she has to travel down. Tom tom what is so important is all the conversations we have had is they talk about 1. 30. We are are at 1. 18 and talking about this, things have changed in a month. Saw 1. 2 zero last week, gets it done. They will say, we do not target inflation or fx, but rather inflation, but the fx shadow hits are inflation objective. It is like being a kid when your mom shouts up the stairs and uses your full name, you know you are in trouble. If they hear that from Christine Lagarde, that is it. Are you long the euro . Maybe you shouldnt be. Tom there are other distractions. No you will do a data checki know you will do a data check as well. We are riveted by premier league opening this weekend,
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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

What an interesting market. It is not a normal july, and simply, it is not a normal friday. Gold almost touching 1900, better markets in the last minutes off the better than good pmi data in europe. Francine we had betterthanexpected pmi in europe, but also the u. K. It is not moving markets that much, but it is something to keep an eye on. Lets get to first word news with karina mitchell. China has dropped back, ordering the u. S. To close its consulate in chengdu because of the u. S. Decision to close the chinese consulate in houston. China serves as a key u. S. Listening post. China says its action is a legitimate one and necessary. President trump has given into worries about the coronavirus. He canceled his florida nominating convention. That was going to be the biggest event of his reelection campaign. Florida just posted a Record Number of deaths from the pandemic. The president says he did not want to take any chances. Ther ....

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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

On this thursday, jobless are front and center jon jon . A News Conference center. Jon a News Conference over the weekend, lisa, i love this about the great depression. That after delivering record fees worldwide for the firm. Just try to reconcile those things for us. Lisa its a boom of fees in a time of incredible uncertainty coming on the heels of fiscal stimulus and the question is how do they pair these realities . We will have more on that decision at 7 45 a. M. , i am watching it even though guy johnson calls it a snooze. Hopefully the press conference will be less of a snooze. Tom, to your point, jobless claims and retail sales are already anxious history, but we can get a sense of how much momentum there was going into this resurgence of cases in the virus. We are also getting netflix earnings after the bell. Interesting to see if some of these high flyers improve. ....

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