Lets get a check in on the markets. European equities are pretty flat. The stoxx 600 struggling for direction. You heard and the headlines, three key things we heard. The dovish message from Jerome Powell reiterated and we got better than expected data in terms of retail sales and factory output, pushing the 10 year yield up. It also pushed the dollar higher and we hold on to those gains. The question as whether President Trump can have the weaker dollar at the same time as a strong economy. And can he have gains in stocks as the same time as a trade war continues . As you made those comments, the s p 500 took a hit, dropping for the first time in six sessions. Coming up, we speak to the oecd secretarygeneral. Dont miss that interview live. Lets get bloomberg first workers. Word news. The u. S. House voted to condemn comments from donald trump that are racist. Week, he tweeted for congresswoman should quote go back to where they came from. Trump says he is not racist and does not have
2017. anna this is bloomberg. Manus we have breaking news. This is in the retail sector. We have numbers from the worlds number one closing retailer. Clothing retailer. Ebit of 2. 9 9 billion. Those are some of the headlines coming through from in the tax. From inditex. Seeing earlyry fourth quarter, according to some of the analysts. Analysts will be weighing the continuing impact. Story thatting a they are seeking to sell some sores. Stores. In iberia. Is as a result of online sales taking a taking off in spain. Lets check on the risk radar. Program with the shock result in alabamas senate election. The had an impact on dollar. As of also down. The democrats won this seat. Trumpsoing to influence ability to get his legislative agenda for the senate . Maybe he tries to speed up tax plans to get this done before the change in the senate. The s p down on this news. We touched new alltime highs yesterday. It was back to the economic data. Though some of the headlines that we will be watc
Welcome. It is surveillance. Im manus cranny. Lets check on the markets. One view we have had dominating through the program is that inflation will recast itself during 2018. The market has the biggest long bets on bonds since 2004. We have got the three month yield here. That is driving the debt ceiling anxiety, shortterm investors demanding more. The bit to cover ratio, the highest stopover rate since 2008, and the lowest bid to cover ratio since january, 2009. But the asian equity markets and European Equity markets, rallying. Taking the cue from the commodity market. Copper is bid. Oil is bid. An overalleing move higher. Oil, we did make it above 60, i assure you. So, we traded post the close up at the highest levels since 201 5. We have the libya outage. Dont forget, we had the u. K. Outage a couple weeks ago and that spoke to market. This time it is libya, 100,000 barrels a day is a good be taken out of the supply chain as libya has an outage. More on that pipeline explosion a li
We are discussing with joe manchin, the senator from west virginia. It is a big drama. Jonathan as you know very well, there is a big question of whether it is drama or it really affects the world such as markets. Jonathan thank you very much. Lets begin by getting a look at the markets. Looking at futures, this morning. We go nowhere. Up about a 10th of 1 . The euro a little bit weaker. Treasuries on offer at the margin yields, creeping back off those 2017 lows. Alix i am taking a look at dollaryen, a really interesting morning for that currency pair. Exit from a monetary stimulus could be on the agenda at the boj. Dollar caught a bid and now dollaryen up on the day by 2 10 of 1 . Definitely an interesting level to watch. The vix goes nowhere. Well,s where, gold as off by about two dollars. Crude up by 5 10 of 1 . Lets count down to one of the big events. Less than an hour from now, we will hear from the European Central banks latest Monetary Policy decision. It is believed mario drag
0k, time, now, for World Business report, with rachel. Up or down . After the disappointing Growth Outlook the uk received from the imf last week, today we get some real numbers for the british economy. And, after emmissionsgate is a new Scandal Brewing or vw . If so this time its not alone, all the main german car makers are accused of having operated a cartel. But did they . Welcome to World Business report. Im rachel horne. Also in the programme will nintendo continue its comeback . Sharanjit will tell us what to expect from the gamemakers upcoming results. But first, later this morning the uk will unveil its latest Growth Numbers for the three months to the end ofjune. Earlier this week, the International Monetary fund warned that weaker Economic Activity means both the us and uk will expand more slowly than expected this year. However, in the numbers due out this morning, economists are expecting the uks growth rate will have risen slightly in the last three months to 0. 3 . Follo