It was above 59 at session highs come about right now just below that once again. The worst performer in the s p 500 right now, brownforman, the maker of jack daniels, among other spirits. Guy in europe, the picture fairly mixed. We been watching equity markets throughout the week be buffeted by the trade story, and we will continue to watch that. European stocks dipping over the last couple of hours. Lets go to vienna, where delegates are telling Bloomberg News that an Opec Committee is recommending an additional cut of 500,000 barrels a day. Bloomberg spoke exclusively to nigerias oil minister, who said his country would agree to more cuts if needed. It would be a tough decision, but we will have to cut, yes, if that is the position. Joining us from vienna, bloombergs Annmarie Hordern. What effects will these cuts have . Cuts wouldell, these take it from 1. 2 to 1. 7. The big question is distribution. How will this be distributed . Thats what the Russian Energy minister alluded to. T
Performance in the s p 500 right now. Saying ite and fitch weighed heavily on their quarter, down 13 . A little selling in the treasury market today. We will be talking about all that in just a moment. In europe, one of the bigger stories today, italy. Prime minister conte has accepted the mandate from the president to come up with a government, sending the ftse mib up to the best performance in europe. It is up in europe as well, potentially on china comments. The italy 10 year yield currently firmly below 1 right now,. 96 . The except to the exception nokia is the vonovia. Coming up, it is the end of the gso era in credit. We will speak with Bennett Goodman about his departure from blackstone. China indicating it will not immediately retaliate against the latest round of u. S. Tariffs announced by President Trump last week. Beijing instead, beijing is emphasizing ways to deescalate the trade war. For more, we are joined by john ryding, rdq economist and founder. John, looks like ther
On china comments. The 10 year yield at 1. 51 . Then we have the ceo comments and outlooks twowa and well, onto weigh, as china tariffs. We will get into details in a moment. Lets get more insight following the latest statement on trade from Chinas Ministry of commerce. It reads in part, china has ample means for retaliation, but thinks the questions that should be discussed now is about removing new tariffs to prevent escalation of the trade war. Joining us from washington to dissect this and more is bloombergs shawn donnan. Avery cleverly worded statement. Does it indicate any kind of . Hange in tone from china shawn this repeats what weve heard in recent months with china in recent months from china. We really dont want to escalate , and we want this trade war to goes away to go away. Donald trump seems to latch onto china calling for calm in these trade wars. We heard that again from him this morning, and a fox radio interview this morning, pointing to a call later today between th
We have the Semiconductor Equipment index up on upgrades from the street. Upertheless, the s p is only 1 10 of 1 . The 10 year yield at 2. 03 . I know we are going to be sticking with markets. A lot to talk about today because we are smack bang in the middle of a earnings season, but there is the whole backdrop of the Central Banks and their moves as well. Forill speak to mervyn king a very interesting conversation in the last half of this hour. Theres fed talk, European Central bank later this week. It is happening on all fronts right now. Guy lets get a take on that. Alberto gallo joins us now from algebris to give us his take this morning. What are we going to bid from what are we going to get from the ecb this week . Are they going to deliver, or talk about delivering this week . Alberto they are going to talk about it, and potentially a rate cut which may come in september, and then an extension of duration of qe. Buying longer dated bonds and more of each single bond, moving from
Manus warm welcome to bloomberg daybreak europe. Starting toare just reassert themselves. One market that is reflecting on everything in 2017 is that the oil market. We had the worst drop in two months. 2733. S it right to the edge of technicals. I have the lower Bollinger Band. Wti drops the most in two months. Brent crashed the most in four months. Before, and ifis history is any protagonist to go by, what happens when we touch on this sequence, we typically rebind. The upper Bollinger Band is narrowing. You can cry at me about using relative strength, bank of america says this oil market will make 70 bucks by next year. Oil is definitely front and center. We pause for thought. We are reflecting. What donald trump does in israel or says he is going to do is the geopolitics this morning. United States Government might close down. This is the show of stabilization and the equity market. He snapped the longest losing streak in two years. Has it ended . Golden saxman set goldman tohs you