British pound sterling. Lots of development in europe, including the 750 billion euro package, a combination of loans and grants. We will get to that in a moment. Essentially, that massive edge helping to narrow spreads, so the italygermany 10 year spread in seven basis points at 1. 91 . Matt the china story obviously a huge one that markets didnt look like they were pricing and until now. The european rescue package was a story that markets had priced in already. It was 500 billion last time arco spoke. Today it has grown a little bit, with another 250 billion euros attached to it or get still, 500 would be the number in grants. Overall, it doesnt look like that is doing much. In terms of the stoxx 600, it is down. The dax is up or than 100 points again. One of the big reasons is daimler. Renault is up 16 . Macron has unveiled a 5 billion euro loan guarantees to renault. No direct help to daimler, but theres going to be incentives in france to buy a new car, 7000 if it is electric, an
Certainty around. Violent clashes grip hong kong as police and protesters engage at a fierce battle at the University Campus while a High Court Rules a ban on the use of face mask is constitutional. Saudi aram moe highly anticipated falling ipo. And spanish boris becomes the center of a bidding war as its a 2. 8 billion euro offer for the exchange moments after they confirm takeover talks. Tlok the program, happy monday the ministry of commerce in beijing said that telephone talks between chinese and u. S. Officials this weekend were, quote, constructive. They focussed on each sides concerns about a preliminary trade agreement. We all know thats a phase one deal the Ministry Said that u. S. Treasury secretary Steve Mnuchin and Robert Lighthouser requested the conversation with their chinese counterparts and both parties agree to stay in close contact. Reuters reported that the Trump Administration is expected to once more extend the ability of u. S. Companies that do business with Chin
Of that. Marriott and hilton is down on a downgrade. The 10 year yield is backup to 2. 06 before the powell testimony tomorrow and plenty of fed speakers today and later in the week. Guy absolutely a firm focus on the fed. European stocks are down again. Stoxx 600 down by 1 . Cable is breaking lower again today. The reason for that the politics, probably more importantly core retail data out of the u. K. Today ahead of gdp tomorrow. Looks like the u. K. Economy hit a brick wall in the second quarter. The market is pricing and more rate cuts from the bank of england. By anothernk down 2. 32 . It was a little worse earlier on. It rallied a little bit, but down hard since that plan was announced. Vonnie fed chair Jerome Powell delivering the opening remarks on the recent Bank Stress Tests at the boston fed conference earlier today. His remarks come a day before his today testimony to congress, with investors expecting powell to pave the way for a socalled insurance cut. Here to discuss no
We will break and have lunch. We will regather at 12 20. [indistinct conversations] dr. Hertzfeld so this one will not have as many sort of virtual folks. It is all in person. Soho karen has readily managed her risks by not having any virtual dispense on her panel. Not sure how she did that. It is all of this year. We talked about the task and experienced before, and this is more future looking and where are we going now . Karen com over to you. U. Karen thank you, scott, and actually, we are all holograms. No one is actually here. [laughter] i was not speaking into it. I was speaking into this volunteer im not sure why it is there. That is for cspan. [laughter] dr. Pace an advertisement for cspan, im watching their feet, the recording, it looks excellent. Whenever it is available, i urge you to take a look at that. That probably be the reporting of record for this event. Thanks. Karen ok. Welcome to panel 2. Well be talking about future strategies for Publicprivate Partnership. I thin
We will break and have lunch. We will regather at 12 20. [indistinct conversations] dr. Hertzfeld so this one will not have as many sort of virtual folks. It is all in person. Soho karen has readily managed her risks by not having any virtual dispense on her panel. Not sure how she did that. It is all of this year. We talked about the task and experienced before, and this is more future looking and where are we going now . Karen com over to you. U. Karen thank you, scott, and actually, we are all holograms. No one is actually here. [laughter] i was not speaking into it. I was speaking into this volunteer im not sure why it is there. That is for cspan. [laughter] dr. Pace an advertisement for cspan, im watching their feet, the recording, it looks excellent. Whenever it is available, i urge you to take a look at that. That probably be the reporting of record for this event. Thanks. Karen ok. Welcome to panel 2. Well be talking about future strategies for Publicprivate Partnership. I thin