ahead? a delayed launch, rocket companies sinking after reporting its first results as a public company, the ceo will join us in just a few minutes to discuss. and later tyler goodspeed as jobless claims come in under consensus and post a new low since the start of the pandemic. a lot to work with today, david and melissa, as we watch that intraday period yesterday where we saw tesla down 10%, for example, worst day for a moment there since early may, david, and then the buyers came in and we will see once again if that happens with some of those names like tesla down about 6% before the bell. yeah, well, listen, i m glad we have melissa with us today for so many reasons but one is because there s nobody who knows more about this company or certainly has talked about it as much as you guys have on fast , melissa, for obvious reasons as it has soared over the last few years and last few months have been truly extraordinary we keep making comparisons to the late 90s w
steps. morgan stanley and wells fargo join european lenders in pledging to preserve jobs during the crisis. deutsche bank says it will pause future cuts amid its restructuring. welcome to bloomberg daybreak: europe. u.s. futures on the back foot today after the best three-day gain in mere nine decades for the s&p 500. the dow is technically in a bull market but it is 25% below the february 12 record. in terms of asia, a mixed picture. following that emergency 75 basis point cut by the bank of india. a big drop in industrial profits in china. that is the news overnight out of asia. the 10-year treasury yeild slipped five basis points. risk off coming back into these markets after the powerful risk rally. we ask the question whether it is a bear market after the devastating rest jobless claims numbers, so weakness in the dollar. the dollar is hedging for its biggest retreat since 2009. gold has its biggest weekly advance since 2008 after the effects of the funding squeeze and
top 325,000.es italy stops all movement inside the country. president trump says automakers have the go-ahead to produce ventilators. thezo abe says postponing olympics may be inevitable. welcome to bloomberg daybreak: europe. morgan stanley adds its call to the list of all three calls on second quarter gdp. claims. jobless james bullard of the fed talking about 30% unemployment in the u.s.. he along with neel kashkari of the fed they the fed can do a lot more. but what is hitting markets overnight and in today s session is the lack of progress on the $2 trillion stimulus package in the u.s. u.s. futures hit limit down after the worst week for the cash trade since the financial crisis last week. we broke through that no one the s&p 500. we saw green on the screen on friday in europe but european futures taking a big hit with european leaders struggling to get ahead of the virus. read on the screen in asia. the 10 year yield had its biggest drop on friday since 2009. it cont
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 old-fashioned 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. second-biggest 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 full-scale. going against turkey in relation to their position against
street warnings. citigroup joins jpmorgan in slacking a downturn as global sentiment takes a hit. manus: are we all on our way to 2%? it s a most like a shakespearean drama. we can t turn back. 2.75%.ld retrace the we have priced ourselves on most oblivion on the probability of a rate cut. the didn t show up last night for the seven-year option which could be the bond market sending the signal back to the market. a lousy bond auction was almost a welcome reprieve. james gorman says he will meet hard data, hard facts for the fed to move. let s have a look at some of the other at risk markets. , 25 basis point cut on that market next week. the dollar is slipping this morning. they cut their target on the aussie to 65 from 70. you will see 1% by the end of the year. the dollar index, we are off of a five-month high. the risk is a major escalation. we could trip over ourselves between china and the u.s. into a real escalation. that is the risk we must fend off. nejra: there s a