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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

Really settle this morning. Ive got to go right to the deepest market exchange. The Dollar Strength is really resilient. Jonathan the treasury marketjonathan not doing what the treasury market would typically do in an equity downdraft. So many people have come on this show talking about it. There it is, the 10 year yield doing nothing. Your yield, 0. 67 . You could clip that, repeat it, and it would have been true for the last five days. Tom when you intrude into market spaces, markets dont give you signals. Ive been surprised by it. The completeness of the bond market and this lethargy has been extraordinary. It is where the bond market gives up giving signals. Jonathan the data 90 minutes away in america. Lisa we get a sense of how much momentum is flowing down in the u. S. We get the latest reading on initial jobless claims in the United States, and continuing claims as we ....

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Transcripts For BLOOMBERG Bloomberg Surveillance 20240712

Steve engle at Standard Chartered with a blistering note about the fed minutes being reinterpreted. Weve got some breaking news. I dont know if you see it there i home in london, but this is critical. Alone,leaves the rate and we get turkish weakness of that headline. Mr. Erdogan simply doesnt want to raise rates, does he . Anna absolutely. They are leaving their oneweek repo rate. The big picture here is that many economists saw this coming, but also thought the Turkish Central Bank should hike rates because the Interest Rate in turkey is well below inflation, and that kind of makes turkey stand out on a number of measures. They are also spending fx reserves to try and prop up that lira. We were talking about a turkish crisis back in 2018. The lira is weaker now than it was then. We will talk more about emergin ....

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Transcripts For BLOOMBERG Bloomberg Daybreak Americas 20240713

Number for the company. Quarterly sales were down 43 year on year. The stock is pretty much flat, though. The bad news now, just how bad would let actually be . Sales roseommerce about 74 . They still need people to come into the store to really make a lot of money. Their comp sales were up by over 10 , if you backout fuel. Clearly a lot of stocking up. Clearly good for walmart. Kohls suspended its Share Buyback program. That stock now off by about 1 in the premarket. Overall, no doubt we are obviously going to take a bit of a pause as we digest earnings and that monster rally. The question is whether the new was that or a bear market rally. Is that really being reflected in equities . We need the Economic Data to really match. Lets get to the news from overseas, as well as here in the u. S. We want to start with the walmart numbers and look ahead to fit your jay powell. Michae ....

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Transcripts For BLOOMBERG Bloomberg Daybreak Americas 20240713

Market. Three year and 10 year bond options coming in superstrong. Watch how that winds up performing. Time now for todays top market moving news from our new york team and washington team. We want to begin with economic the u. K. Economy shrinking on the 6 in march. Predicting what could be its deepest contraction in more than three centuries. Bloombergs Michael Mckee has more. Michael ask not for whom the bell tolls. It is the u. K. This time. Just one week under lockdown was still enough for a 2 contraction during the first quarter. As you mentioned, a 6 contraction during the month of march. Britain plunging into what may be its worst depression or recession, at least, since 300 years ago. Three centuries, according to those who have been figuring out. Tourism fell by 46 , air transport down 44 . Engine ofpending, the the economy, down 1. 7 in the first quarter, the largest drop since the financial crisis. We got data from the ....

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Transcripts For BLOOMBERG Bloomberg Daybreak Americas 20240713

Chinese demand levels almost at precrisis level. Time for todays market moving news from our washington and new york teams. We want to start with fed chair jay powells comments on the economy. In an interview with cbs, he expressed confidence in the recovery, but timing is still hard to predict. Chair powell the economy will recover. It may take a while. It could stretch through the end of next year. We really dont know. Michael mckee, International Economics and policy correspondent, has more. Was there anything new on cbs . Michael nothing really new, just summarizing what we already knew from the fed and from economists and disease experts. He suggested that what it is really going to take is a vaccine before people feel really confident and the economy can start to move back in the direction of where it was before all of this started. He said congress and the central bank may need to do more to keep us afloat during t ....

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