Lets get a quick check on the markets now. The s p 500 is not doing much, down just a point. Data,ing the disinflation the 10year yield at 70 basis points. Not much movement. Grubhub,ng a bid for according to people familiar with the metal. Restaurant brands international, the ceo just on tv making a bid for resuming business in china. Lets get a deeper dive into todays market action. Taylor take a look at the vix. You are seeing an extraordinary come down, down 17 points in the last month or so, now allow 827 handle, the lowest since february 24. We know that the fed will be buying etfs. With that, fear is leaving the market. I want to take a look at the balanced budget, or the lack of balance, that we will get around 2 00. We are looking at what could be the first april deficit since 2011. The tax deadline was extended to july 15, and all of the massive stimulus put in place will make what could be the first budget deficit that we will have in april, going back to 2011. You mentioned
Near its session highs, ending the day with 1 moves in either direction. It looks like some of those could be coming back. We also had crude and oil markets rally and despite concerns that demand was off about 70 . Crude is up 1. 6 . As we know, the fte Energy Consultants have said that it could fall 8 Million Barrels a day in 2020. Cuts. S coming on supply the highyield market, as you can see we are up 2 or so. Strategists say the fed may be buying double b rated bonds. That would be in the junk category. We are seeing some of the highyield markets catch a bid. Now for deep analysis into the markets, joining me from los angeles on the phone is the Portfolio Manager of Causeway Capital management, which oversees a 37 billion. Sarah ketterer is the former morningstar manager of the year. On that note, it is great to have you. There have been many comparisons between 2020 relative to the financial crisis of 2008. You noted in 2008, a lot of the cyclicals over leaving us out of the bottom
Trump about how we could end up in a major, major conflict in his words. Did put some pressure, if you see the nikkei, down about 0. 3 . Same with the hang seng. In europe this morning n some early tlading, things are mixed. The ftse is down by 0. 25 . The cac is up by that much. The dax is up by 0. 10 . With crude oil prices this morning, looks like wti is still below 50. Up 27 cents. Tech stocks on the move this morning. After quarterly reports late yesterday. Lets give around up of whats going on. Amazon eps tops estimates by 36 cents. Saying revenue from the Cloud Business, advertising and Subscription Services helping to drive those results. Alphabet beating the street on both the top and bottom line. Strong ad sales sending profits up 29 , despite some advertisers boycotting youtube. And microsofts ref knew ju revenue just missed consensus. Sales of the Cloud Services platform jumped 93 in the quarter. Last but not least, look at intel. Reporting lower than expected quarterly rev
Held up in april as Global Demand recovers. The forex reserves rose for a third month. Anna welcome to bloomberg daybreak europe. Manus Emmanuel Macron got the votes. The euro had 90 possibility that this event would happen. This is volatility overnight in the euro. You have things like the ecb. Yellow. Meeting is in it has dropped. Euro is down. Euro sterling is down, euroyen is down. Had alreadynagers covered sorry, they were already net long about this by the most on record. Buyn appalling phrase the rumor. Anna we do not know what the ecb will do as we go into june. We do not know how much of power makcron will have. Let us look at asian equity markets. At theng china come asian equity markets are doing very well. The chinese story is different. Down another percent on the chinese equity market. U. S. Stocks closing at a record. Jobs number was decent. All of that lifting the general sentiment but the chinese story is different. Billion loss in liquid chairs in the last month of a
The year. Possibly beyond. Will it be enough to stop the recent rise in the greek market . Third in the crude market . Third time, not enough charm. Akzonobel rejects another takeover offer by bbg, defying shareholder pressure. Could a hostile takeover the next . You are welcome to the show. Emmanuel macron exceeds the power. Votes got over 65 of the and counting. 34 from macron . You can see this is the overall relief. Asia was off on vacation. These equity markets are higher, in part, in part to do with the victory that you saw for the jobs number on friday, the macron relief rally as well, which has come through. That in itself is moving markets. Equity markets are just that little bit higher this morning. Let me move this along. Equity markets are just that little bit higher this morning. London, paris, and frank first are all higher. Up about. 5 percent in london, paris, and frank appeared we have the European Central bank to deal with as well. Let us get to juliette the first wor