Significant challenges. Hedges rise, oil falls for a cplus talks ope are delayed for a third day. Crude had capped its biggest monthly increase since may. Heading for the exit. Unicredits ceo is stepping down after four years at the top of italys biggest bank. It comes amid clashes with Board Members over acquisitions. It is 6 00 a. M. In london, 7 00 a. M. In vienna. We are where we are supposed to be. You wanted to start with oil. I absolutely applaud the decision. There is this line that the prince threatened to resign. My question is simple, is that petulance, posturing, or productive . Good morning . Morning. Annmarie i am certainly sure it is not productive. They are meeting on thursday. A brilliant note overnight saying that like with everything with opec the first day, there is always drama. She compared it to as much as drama you would see in an episode of gossip girl. A lot of infighting. Usually, you and i will report on it between saudi arabia and russia. This time, it is r
Have announced today will provide strong support for the economy. We are saying that roommates rates will remain accommodative until the economy as far along. Leaves stimulus untouched. No move expected either. Todays action could come from south africa as they battle we growth. President trump contradicts his health officials, saying a vaccine could come by october. Deutsche bank says new york city staff can stay at home until next year. 6 00 a. M. In london. Lets get you uptodate with the interpretation of fed speak. Good morning. I take you to ing. Its about the credibility andeen Forward Guidance state contingent Forward Guidance. We got both last night. That makes for more potent situations. Perhaps doubly irrelevant. Annmarie a note this morning saying theres no pleasing some people. What else could the fed have done . Maybe qe. Also talking about the fact, they were saying, monetary stimulus, its time to focus on policies for the real economy. In that moment, jay powell is right
Margin. The result is seen as pivotal for the future ties of the nation with the European Union. And u. S. Banks are braced for the worth order since the quarter for the worse quarter since the financial crisis. Jp morgan kicks off a big rank week. Good morning, it is 6 00 a. M. In london. It is getting hot here. With an untamed virus irrationalional exuberance in stocks. It could get tricky. Goldman has upped their view of their earnings. Yall so have the gilead story in terms of remdesivir helping the severely ill despite the untamed virus in florida exceeding the peaks of new york and texas. They are still below consensus and there are deals there. The dollar drops. Two straight weeks of a demolition of the dollar. Yields traded at. 63. Do you buy the rally . Im a believer, are you . Copper is the shining narrative. Copper is ripping it up there this morning. You are looking at the longest 20 16. Streak since is that a wakeup call to the Treasury Department . On willudis turn the sa
Will reopen the economy if it is safe. And the italy and italy and lowering in the number of cases. Manus we are getting some breaking news. We go to the heart of earning season. Single structure. Jennifer may will leave at the end of may. Numbers, First Quarter, nonir four f. They see a solid start to 2020 despite the eye of the coronavirus storm. And First Quarter results, they theyted some softness and had said there was a little bit of a dent with a significant new business having been derailed. They see a solid start to 2020 amid this covid19 crisis implying a strong rebound. In the structure at sap. We are waiting to see if any other news is coming through on their dividend. Good morning. It is all about the oil market. Nejra absolutely. 20 7 revenue increased for sap. The tech sector is going to be in focus this week. In the u. S. As well, we have the following revenue and the pulling away of the forecast for ibm. Tech has been resilient in the equity market. If that falls, we m
The safe haven bid comes off. The selling in the bond market is not as fierce as the buying and the equity market, something to keep note, as the 10 year yield rises 19 basis points. Crude getting back may be half of the losses from yesterday, up by about 10 . We will see. If that can hold. Time now for globe we will see if that can hold. Time now for global exchange. Our bloomberg voices are on the ground with this mornings top stories. We begin with the markets. Stocks stabilizing globally following the deepest equity route since the financial crisis. Joining me now with more is bloombergs dani burger. s p futures hitting their upper band limit, 5 . Here in europe, we see equities gaining about 4 . Yields gaining back. But given the scale of yesterdays losses, this is no ordinary day. Is this a dead cat bounce . Volume has been a touch light. Back. Not coming yields not coming back is fiercely, as you pointed out. Overnight, it looked like u. S. Futures were heading there to lower th