To the week. We are now focusing back on the virus rather than the vaccine. The german tenyear, some very weak inflation data out of germany today, sending yields lower. The price is coming up higher as well. You are also likely to have a scarcity factor coming into play as well. Yesterday indicating that the ecb is going to be on the bed, buying bonds. Hes got to think about what is going to happen in the bunds story as well. When you look at what is happening with treasuries, greece now has at the front end of its curve a negative yield. Just well on that for a moment. Greece is now a negative yielding country, albeit at the front end of the curve. Nevertheless, an amazing turnaround in a relatively short time. Alix an amazing eight year difference that makes. I was just reflecting on the sovereign debt crisis yesterday, so that is an amazing stat. New virus cases may be easing in some parts of europe as virus hotspots could offer a glimmer of hope and some of the worst hit countries
Politics at home and abroad for years to come. The ipo has taken a dramatic turn with jack ma and other executives summoned by regulators. The company ahead of scrutiny. Shery breaking news out of south korea. We are getting the october Consumer Price numbers. Month for month, we are seeing a contraction of 0. 6 , really missing expectations of analysts. Not to mention it is a slow down and Inflation Numbers from the previous month. Not surprising given we had a pickup because of the weather related issues. We had monsoon season. And lowerlf Pressure Energy prices. Growth of prices is only. 1 which is a deceleration from the previous year. Not to mention it is under analysts expectations. Only in october we saw bright about 30 lower on average compared to a year ago so we are getting pressure on both numbers. For now, lets turn to the market. We are seeing u. S. Futures slightly higher online. Lets turn to sophie in hong kong. S p adding about 1 10 of 1 at the start of the session in a
General becomes the first african megan woman on the ticket. As it trump calls her the meanest u. S. Senator. Activity in the Second Quarter dropping to levels last seen in 2003. Manas 703 million euros, the loan loss provision, thats a beat on what the market had presumed at 837. ,e talked to a number of ceos to exit all nine european Corporate Banking operations. The bank will focus on the netherlands and northwest europe. So the provision story will be the ouster of the financials and the narrative is hunker and focus at home. Absolutely, and in the past we have spoken with the ceo or the cfo on the show and ask a lot of questions on the dividend. Perhaps that will come up today as well. Abn Corporate Investment banking to discontinue trade and Commodity Finance activity. Interesting times in markets right now. Weve had a quite time in yields and suddenly that jumped up yesterday with 10 year yields. Manus absolutely, that spiked and shifted the curve. The other narrative we need to
Tiff movement for 2021 we also see clearly the paces coming in for the third and Fourth Quarter in reverse, the volkswagen numbers fall Retail Therapy shares in the dutch super market giant jump to the top after earnings rise almost 80 in the Second Quarter on the lockdown spending the death toll rises after a massive explosion. President trump suggesting the blast could have been intentional. Our prayers go out to all the families the United States stands with the people of lebanon and well be there to help it looks like a terrible attack. Lets kick off the show with fresh data just crossing the wires. This is the final composite pmi that has come in at 54. 9 that is a touch better than 54. 8, a little color for you on the numbers for july Services Come in at 54. 7 that was a little light. The suppressing strength has come from the Manufacturing Sector which we got earlier this week in terms of the commentary which provides this data, Business Activity rebounded to grow at a rate not
Twitter shares fall after hours on an unprecedented hack on the accounts of prominent u. S. Figures, including elon musk and bill gate. Jack dorsey called it a tough day. Welcome. It may have been a tough day for twitter, but it is also shaping up to be a tough week for tech stocks in general. The nasdaq leadership we have seen falling back a little bit this week. Nonetheless, we did see a little bit of strength come through on the s p 500. Today, we are seeing a little bit more risk off sentiment across assets. Perhaps to do with concerns around the china data, particularly around the retail sales question. Asia, the screen and particularly in chinese equities. The 10year yield is steady. You are seeing the dollar steady after a couple days of weakness. Also perhaps the fact that we are seeing a little bit of softness in crude. It did close that a fourmonth high yesterday, shrugging off plans by opecplus to taper production curves. Lets get to the first word news now. Coronavirus case