Korea, but now we had subsaharan africa. Anotherhad nigeria, and area of great concern is iran. These are countries that do not have the same kind of Public Health infrastructure, the some kind of control over their border. If you start to see transmission and those areas, those will be the ones that cause spread to other countries and a greater rate than we are already seeing q8 david you are seeing already. Fed going tos the do about the coronavirus . Michael fear is in the saddle. We have gone from maybe the fed might have to cut because of this to three full rate cuts and a better than 50 chance of a forth over the next year. The only trouble with this theory and the idea they be they do an emergency rate cut is correlating with central bankers around the world is that central bankers do not seem to agree. The head of the Buddhist Bank has been the head of bundesbank whose country has been affected by this says we have enough accommodation and at this point there is nothing Central
Rollout of disney next week as well. Gap is down 7. 5 after the announcement that the ceo will step down. Change of any business might take longer. Guy here in europe, bit like the United States, moving lower on this trump headlines, and then bounced back up again. We are still negative on the day. The euro down as well. The dollar has been catching a bid today. What has been interesting is the bigger reaction in the bond market. Earlier today, italy was down for five basis points. Down by one basis point sorry, up by one basis point. We have probably seen a bigger reaction in bond markets then in equity markets, which is interesting. Its been a big week. Theres been a big selloff this week for btps. They are up by 21, 22 basis points this week. Lets talk about these markets, try to figure out where we are as we wrap things up. Erik nielsen, Unicredit Group chief economist, joins us out of berlin. How critical is it to the markets, to this trade deal, that we see a rollback of tariffs
Fed chair jay powell has to strike a fine balance at jackson hole. Fears of recession swirl, but regional fed president s question the need for more cuts. As i look at where the economy is, it is not yet time. Im not yet ready to provide more accommodation to the economy, without seeing an outlook that suggests the economy is getting weaker. Matt a working weekend at the g7. French president Emmanuel Macron tells Boris Johnson a new brexit deal in 30 days is unlikely to happen, and italy has a few more days to cobble together an unlikely coalition. Plus, the perfect storm. Germanys Buddhist Bank bundesbank say it is not time for stimulus even as sentiments hours on the manufacturing sector. Welcome to bloomberg markets, the European Market open. Were looking at futures pointing to gains. The u. S. 10year yield continues to climb. 1. 64 , 1. 65 the next stop, and in terms of European Equity index futures, we see green across the board, on s p futures as well. Upe a look, dax futures. 75
City which have turned increasingly violent in past weeks lamb maybe hoping that the move will put a lid on the protests ahead of the october 1st golden week when china will celebrate the 70th anniversary of the founding of the peoples republic. And checking in on the brics a drama in the United Kingdom british Prime Minister Boris Johnson suffered a bruising defeat in the 1st vote on the house of commons under his government as m. P. s voted 3282301 last night to advance legislation that would rule out a no deal exit for the u. K. From the European Union mr johnson then said he would introduce a bill for a snap election to take the issues that question to the people but Opposition Leader germy corben of labor insisted that labor will not supply the loots needed to call a snap election unless and until the entire no deal bill is passed or securely on its way to becoming law today Prime Minister johnson spoke on behalf of his election bill before the 922 committee where he was reportedl
Of the berlin market if the rental cap goes into effect. In the u. S. , its been a not uneventful day so far. The s p at 2927. That belies a lot of movement under the surface, with ulta beauty down 28 . Its been a great month for the homebuilders. Lowes and home depot higher. Target up 25 this month. The 10 year yield right now is just about a basis point lower in the session at 1. 50 . 99 rightose to hitting now on the dollar index. We are joined now by james bevan, ccla Investment Management cio, and london. Brexit is probably first and foremost on your mind in the world, if not in your investment strategy. What do you anticipate will happen next week when Parliament Reconvenes . James we are going to hear a lot of noise and a lot of heat generated. When all is said and done, there is no real shared enthusiasm among those who dont share mr. Johnsons preference for shifting forward, and there are a lot of people who say mr. Johnson is really about playing an advanced game of chicken w