At the ecb, Christine Lagarde says the central bank will be resolute on inflation. Manus we kick off bloomberg daybreak europe, waiting to hear exactly what the list of unreliable entities are from the chinese back to the u. S. Alive and well against argentina, brazil, france. That is the market angst in global trade. It is not going down. If anything, we are ratcheting higher. Man back at it, and this is the first time President Trump has explicitly tied tariffs to currency issues. We sigh risk on session yesterday and that started to sour in the u. S. On the terrace risk and on the factory data out of the u. S. After optimism around china. Manus of course, you are quite right. Interesting how his view on currencies the bloomberg john, crazy from like a fox in terms of understanding how currency markets move. The backs rose on a of issues. Socgen says the fed will cut 100 basis points year and the u. S. Faces Recession Risk, and you may see yields drop to 1. 2 . Bloomberg say if you s
Up fororget, almost 4 the month of august on the s p 500, even with all the turmoil and volatility. Yields down as well, although we are up a little bit today at 1. 52 on the 10 year. The dollar index continue to strengthen gradually. Several sessions now of strengthening. To best performing in the s p 500 right now is campbells soup after beating on sales. Dell also performing extraordinarily well. Some lower stocks as well. Ulta beauty down to 5 in the session. Ins look at europe 25 the session. Lets look at europe. The worst performer yesterday, best performer today, vonovia, saying it might pull out of berlin if the rent freeze goes into effect. The ftse 100the ftse 100 up 0. 1. The euro trading at 1. 1048. As investors close out this pretty chaotic month, with equity markets advancing and yields retreating, we are joined by christopher smart, bearings Investment Institute christopher smart, barings Investment Institute head. How should we trade on the news we are anticipating, on
Number bang in line with estimates. The transport number is a little stronger than i am its. Youre getting a then estimates. The factory number is a little weaker than estimates, a little better. Than last time around what we are getting here is maybe a bit of evidence of continued weakness in the industrial sector, and may be some transference of that into the Services Sector judging by the ism, which is still robust, but beginning to fade a bit. Equity markets and bond markets are having a reasonably turbulent time. Of bearingssmart institute is joining us. The data are still pretty good, but maybe there are crocs appearing. Arestopher i think there certainly crocs appearing, but as you say, the data is still pretty good. The data youve just gone through is a little weak on the margins, but still in expansionary territory. What is so difficult for those of us who look at the data is to reconcile that with the signals the bond market is sending, which is much more worried about longte
Fall to the lowest since late 2015 as Jerome Powell opens the door to a july rate cut but investors ask, will he cut by 50 basis points . Packed, governor kuroda due to speak imminently after keeping policy unchanged this morning. The yen holds it strongest level against the dollar any year. Economists expect the bank of england to strike a hawkish tone but hold steady on rates as the candidates for next Prime Minister are whittled down later today to two. Good morning. Matt we are less than half an hour from the european open and i want to show you a quick chart of gold. Ands a hike in your chart we are at the highest level we have been in half a decade. 4. 70 1340 dollars. When the fed cuts rates, treasuries look less attractive as a competitive asset to gold and that is why you get the lift in the price. Lets look at the futures. We are looking at games. Plea gains. We didnt have massive rallies in u. S. Stocks. He had rallies in bonds around the world. I see green boxes, but we do
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