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The markets are clearly telling us that the markets are not pricing in the worstcase scenario when it comes to iran, or at least Portfolio Managers not. Stoxx europe 600 gaining some 0. 6 . On bloomberg surveillance, we will be speaking to the president of euler hermes, Wilfried Verstraete. That discussion is up very shortly. Lets get straight to the blumberg first word news. In new york city, heres Viviana Hurtado. We begin with the first stage of the u. S. China trade deal, set to be signed next week. China says its top negotiator is visiting washington, d. C. It is the latest move towards a detente. Contradictory reports this morning are emerging about what caused the ukrainian boeing 737 to crash and iran. Initially blaming a technical issue, then an engine fire. Ukrainian embassy running out terrorism, but ....
Host good morning and welcome to bloomberg daybreak europe. Lets get to the top stories. Yields sinking on dovish fed speak. Netanyahu vows retaliation against hamas has only started as militants worn they are prepared to kill hostages. In europe leaders are going to hold an emergency meeting. A lot going on geopolitically. Lets see how it is being priced into the markets. We are going to see a potential turnaround from yesterdays price action. Futures action is crucial. You are seeing a complete reversal. The idea here is that if you have war on the horizon and breaking out your gut reaction is to sell everything. Today it is the opposite. Looking at it from a sectorial basis. The defense bid is being actively priced into the market. Some might view it as an overreaction in the market which is why we are seeing futurists outperform. Futures outperform. Some of that is going to be a function of the yield picture. What is lacking is what is going on in the u. S. Markets and that has a l ....
Crude comfortable at 50. 8 0. Another 350 billion honest in hardware deals rummaged in the next three years. Wilbur ross had high praise for the deals that got done. I cannot imagine another business day as good for the United States and the kingdom. Kevin cirilli joins us now from jerusalem. Lets talk about those deals. Energy, andilitary, infrastructure deals done. How important are these for the president at this point . Kevin very important. Coming on the heels of the administration raising questions about the potential collusion for russia. I asked secretary ross of whether or not these investigations would cloud over the trip, and he believed they would not. Over 300 billion worth of new deals, as well as a 109 billion arms deal negotiated between the u. S. And saudi arabia. The folks i spoke with on the ground in riyadh from saudi arabia were impressed by the caliber of ceos in attendance. Representatives and top executives ....
June and july figures were revised lower. Unemployment rate fell a notch to 7. 3 because more americans gave up the search for rork. Jim, were looking for silver lunings here. Not too many when you look at threemonth, sixmonth average now that is nothing to get excited about. Right. And everyone keeps telling me back and forth, well, wait until you see the revisions. Ive done a lot of work on this number. Ive looked at it for the last five years. This is it. This number does not look through. People will trade off this number. Dl is nothing spectacular about it. It does come in right before a fed meeting. If the taper is going to be light. We are going to see Mortgage Rates down. It will be down next week. We havent seen that in a long time. The question this morning is whether or not it would go to five. Whether the 30year mortgage would go to 5 . That doesnt appear to be in imminent danger now. Going back to 4 1 2 . This is rema ....