Mind. About 30 minutes into the trading day, julie hyman has the latest. Julie we are seeing a selloff in stocks here we see little change of direction. One a look at what is going in the u. S. Markets at the moment. We are seeing declines, smaller than they were at the opening bell. A little bit of a pairing of the declines we see. Bonds. Ake a look at we are seeing a little bit of a change in direction here. Bond yields actually going green in the past few moments after earlier falling to a record low of 13180. Movement and what we have seen. We are now selling in the bond market. Driving those although he up to 1. 83 . Level. Very low that means a region gray of what we mean by the stock market. Take a look at the imap on the bloomberg here. Earlier, we were seeing utilities on the green. That has traded lower because we see an inverse relationship. Health care and Consumer Discretionary very slightly. Now down only about one third of 1 . Pairing to clients as we are seeing the move
And crude reality. Discuss 20 per barrel in that it if that is off the table. Here is what is getting the going this morning. Im kind of looking at it, im fairly underwhelmed delegates a regional bias. So how am i viewing what is going on in china. Its another factor that he has got to think about. Clearly they showed robust job growth. The question is really one for steve major. Is the policy diversions basically priced in. Thats a key question. You see no doubt from goldman that the shares are pricing in but not much more. Here is the thing. If draghi disappoints this week you could see one heck of a move. We saw what happened in the european curves. This week, its one of the more pivotal that we have seen so far this year. We are 28 minutes away from the European Market open and at this stage we will have a little bit of disappointment in terms of the market. Let me show you the fair value calculation down by around 0. 4 . You get this line here. Its a smart piece of technology and
Exchange. Were watching ecb president mario draghi here on Worldwide Exchange. Lets listen back in. The final figure was actually lower. And this certainly contributed to restoring confidence in the markets. At that point, when the confidence was just returning, the ecb was of the view that he would have been highly disru disruptive to have 4 billion after it had already before. It would have been highly disruptive. In other words, the cost would not offset the benefits. This was the view. And later on in 2011, this view was confirmed and the foreseeable was about 2 billion. Also because they wanted to exempt to irish banks. So it was small to begin with. With the potential high cost in terms of confidence in the irish program. You also one also should remember that it was restoring Market Access, which, by the way, is the key to programs, really. So the main okay apologetic tif at that time was to achieve Market Access and this was thanks to the compliance with the program. Thanks to
Manus good morning and welcome it hasntdown. Anna just gone 6 00. Good morning. The asian markets really picking up and running with it. I think a lot it is sort of here. The biggest twoday rally in almost seven years. Who called the crash in crude says you can get back to 50, possibly 70. We have seen volatility hit levels we havent seen since 2009. The hedge funds, the all important driver of sentiment, have turned bullish on the russian ruble. One note. 2015s crude imports in phone to the lowest since 1980. That gives you a little bit of an inkling on the demand side. Anna we checked in on the equity story, oil story. Lets talk a little bit about treasuries. Investors have been allowing the oil price to have too much sway over other asset classes. That explains in some way the divergent view on treasuries coming from Goldman Sachs. Talking about how we could see an increase in yields on the u. S. 10 year where they are to 2. 2 or so. Morgan Stanley talking about a bull market in tre
Later on will be paul krugman slamming germany. Question,ssic german we want growth but stay within this pact we agreed to. In the u. S. , personal income and spending at 8 30. At 9 45, chicago purchasing manager index and then the university of Michigan Consumer confidence. Heavy data day, given that it is the friday before labor day. Earnings, big lots. Markets in india are closed fora a hindu festival. 8 00. On indias gdp at european Foreign Ministers meet in milan. Wonder what they will talk about. Westminsterl be in today. I will take this to the traffic desk with scarlet fu. New rochelle and tarrytown. Hes staying overnight to attend a wedding. Scarlet fu in the traffic chopper. The traffictan, shuts down, what do you do in the suburbs . They shut down certain streets. You have to get around everything. Were warned, north of new york city as the president has a little on his mind. That on bloomberg surveillance. Lets look at the data stocks, bonds, currencies, commodities. Future