Significant challenges. Hedges rise, oil falls for a cplus talks ope are delayed for a third day. Crude had capped its biggest monthly increase since may. Heading for the exit. Unicredits ceo is stepping down after four years at the top of italys biggest bank. It comes amid clashes with Board Members over acquisitions. It is 6 00 a. M. In london, 7 00 a. M. In vienna. We are where we are supposed to be. You wanted to start with oil. I absolutely applaud the decision. There is this line that the prince threatened to resign. My question is simple, is that petulance, posturing, or productive . Good morning . Morning. Annmarie i am certainly sure it is not productive. They are meeting on thursday. A brilliant note overnight saying that like with everything with opec the first day, there is always drama. She compared it to as much as drama you would see in an episode of gossip girl. A lot of infighting. Usually, you and i will report on it between saudi arabia and russia. This time, it is r
We got a boost from the bank of england a little early around. We will hear from the governor in just a moment. The cable rate, 1. 31. Keep an eye on the critical lines in the sand as we come through tomorrows session. We are starting to see yields a little bit higher here in europe today. A little bit of stabilization may be in the bond market after yesterdays big move, but a much flatter curve. Lets dive into the bank of england decision to boost its bond buying program. 150 billion, a little bit of a surprise. The market was expected 100 billion to be added to the program. Why the bigger number . That was the question i put to the governor. Gov. Bailey i think that was what we learn from our earlier experiences with covid. It is important that we act both quickly and that we act clearly in scale. That was an important consideration for us. The second thing is that we have to meet the inflation target sustainably over time. So a lot of work we did on our forecasts, employing the pers
1. 1859. Bond markets also turned around. Higher in moving terms of the yield lower in terms of price. That is reflecting what is happening on the bond market as well and by the equity market. Alix, things are turning around a little bit here. Slightlyut to be a more bumpy end of the week than anticipated. Alix watching quadruple witching as me head to the close here in the u. S. The London Stock Exchange is in talks to sell boris teliana to euronext and two institutions. Joining us now from paris is the ceo of euronext, stephane boujnah. We have learned and there were other bids higher than yours but won. Can you give me insight about how that deal came about, and why . I dont know the levels of the bids, and i dont have information on the computing bids. What i know is that the board of directions decided to enter two different positions with us following the process which was run efficiently. Finalizew trying to the signing of this transaction as soon as practical. An options proces
Down nine basis points. Europe is jumpy holding onto positive territory. Who knows . Brexit conversations throughout this week. Coming up later in the hour, we are going to speak to gregory poland of the mayo clinic to get his perspective on the latest vaccine trial results from astrazeneca and pfizer. What does it actually mean for the market . Eu leaders are reconvening about premuch now for stimulus negotiations in brussels. The goal to seal the deal signaled that they are ready to agree on 390 billion euros of funding be made available. German chancellor Angela Merkel sounded optimistic earlier. Night, wealks last worked out a framework for possible agreement. Perhaps today an agreement will be made. Is underground for us. You have been covering this from the beginning. We understand there is a lower provision for grant and loan guarantees. Are they going to have people checking . Is there going to be an Advisory Board . What i would say is the mood has changed over the past hour.
Florida. It is about the pandemic. The Market Reaction to that, as Jonathan Ferro mentioned earlier , we have seen remarkable stability in the pricing of the Global Financial system in the last three or four days. Mathematically brilliant, in the last 48 hours we have seen yields in. There is no question all of our conversations, including Mohamed Elerian and jim paulsen have to be about what the bond yield signal. Jonathan it is not a huge move, but it is a break. It has been so sticky for the last several weeks, and we break lower by several basis points. Yield, which real have moved aggressively lower. Treasuries on the one hand, on the other, dollaryen. Morning, 1. 06, they are not huge moves but we are starting to break down in a way that is maybe complementing the Risk Appetite elsewhere. Tom totally on the point of real yields yesterday. I do not think people understand there is the visible yield, and then there is the yield after you adjust for inflation. Business has trouble g