Four days of losses is about to become five. Are down 7. 5 over the previous four days. Cross assets, we look like this. A bid into the bond market briefly in treasuries. It did not stick. It was a treasury market selloff. This morning, it is about yen strength. Dollaryen coming down on 0. 3 . Again. Rude is down 0. 9 mark wheret is that you have these massive producing countries like russia and saudi starting to worry. These are very hard prices to deal with when you try to balance your books. It all comes back to demand. Everything is about demand right now. When you have france and germany going into lockdown, that does not bode well. Euroyen is striking me this morning. I feel that for the first time it is acting like a haven. It is her membrane what it is supposed to do. Jonathan a bit of yen strength. Chancellor merkel giving a wakeup call to her fellow eu leaders. They failed to act quickly stop the pandemic. For more, our western europe managing editor joins us. Walk us through
Ive got to go to the pandemic and the fold in to our foundations of this coming quarter, our foundations to 2021. Youve got to comment on what the eu saidd yesterday. Jonathan a call for more fiscal stimulus across the continent as well. Christine lagarde pretty clear about what she wants to do in december. The colder it gets, the harder it gets in europe. Cases are going up. More restrictions are coming on. Big question for the United States, whats next the deeper we get into winter . Tom weve gone back and forth this morning with differences of opinion. It is a movable feast. I would say that the one item this item as the president adjusts his plans for what he will do Election Night because of the pandemic. He had plans to go to his hotel. He will not. The rumor is he will stay at the white house. Jonathan according to open what the new york times. According to the new york times. Lisa we will get some earnings from exxon mobil, the thirdquarter earnings. The reason i am interested
That is pleasing most investors. Isnt stocks soaring. Sent stocks soaring. We are certain to be speaking yields. The10 year in u. S. Surface we are rotating towards a more defensive bias. The food and beverage sector is the outperforming sector. These are attaching a bid once again. The car sector is down today. Those sectors have done really, really well over the last few sessions, as we have seen the risk on rally really get into gear. The german tenyear, a potential bid with two basis points, as you can see, on the move. We are down, that means bond prices are moving up. What we are seeing today is a move against some of the emergingmarket currencies. The ruble is on offer, the South African currency is on offer. You are seeing that around the world. These look a little flat, but actually i think it is probably a risk off five into the markets. Charles evans says that the u. S. Economy is in a good place. In an interview with tom keene he said that the fed has engineered and accommo
China september exports is coming through at the moment. Down. 7 in yuan terms. Going to get you the dollar figures when we get them. Lets look. No trading in tokyo today. It is sports day. Of people lot wouldnt have come to work anyway because of the weather conditions. Seng having a good showing. [indiscernible] look at some currencies. Tad. Strengthening a the ruppee, Inflation Numbers are out later today. On the central bank, which has declined to move last week. Singapore dollar, that is currently the situation. 1. 37. Lets not forget sterling. More uncertainty over brexit continues. Lets get more on what is going on with these trade numbers. David these are in renminbi terms. We have the local currency as well. Suffice to say, a lot worse than expected. We expected a 1. 5 increase in exports. 7 is what we got. Imports as big as well. Expected, we we got 6. 2 . This leaves not just the dollar figures but a whole raft of data set to come out throughout the course of the week, leadi
Ankara. Manus warm welcome to the show. A lovely piece written this morning. What is the scale of the handshake we have had over trade . ,t is a handshake, irregular good oldfashioned handshake. There is still a lot of work to be done and i think that is what the market is waking up to this morning between u. S. Sino relations. Questions and criticisms over this partial deal. The tariffs still on the cards. We are getting a little bit of a lift in the markets. Getbig question, if we do any kind of resolution on trade or brexit, what does that mean for the bond markets or money coming in this year . Manus we will talk about that in just a moment. 10 year Government Bond futures. Some would say irrational exuberance. Secondbiggest rally this year. Morgan stanley really did warn, trade war pause, uncertain rather than durable. Plays fast with the lira. It goes3 last week, down again. The u. S. Is ready to go fullscale. Going against turkey in relation to their position against syria so th