Yesterday. David time for the morning brief. Apart from the all important fed a. M. Steven 8 00 mnuchin speaks at the independent Community Bankers capital summit. We will get adp Employment Data, the consensus for 185,000 jobs added last month. After the bell, it is earnings watch. Facebook and tesla will be reporting. Alix decision day for the Federal Reserve, the bloomberg surprise index starting to roll over. Sales, week core cpi, week march job numbers. Mckee. Shington, michael how does the fed a dress the weaker data we have seen . Michael they are going to have to mention the fact that the economy slowed in the First Quarter but they do not want to take june off the table and do not believe this will be a continuing problem so they will probably talk about it being transitory. They may mention seasonality problems we had. Tractornta fed, gdp now comes up close to the average gdp numbers we get, shows First Quarters have been terrible for the last couple of years, but look at tha
Yields up by about three basis points, the vix little bit softer. Jpmorgan says you want to buy hedges against the pickup,. 5 jonathan . Jonathan Jonathan Garland im going to borrow. Whether you think the year has passed quickly or not depends whether you are a sterling fx trader. Its on one year since that vote. The british people have made a very clear decision to take a different path, and as such, i think the country requires fresh leadership to take it in this direction. Inevitably, there will be a period of uncertainty and adjustment following this results, but as the Prime Ministers of this morning, there will be no initial change in the way our people can travel and the way our goods can move or the way our services can be sold. We need a negotiation to start as soon as humanly possible and we need to start thinking globally about our future. The other thing i think the it is tohappen is become a National Bank holiday and we will call it independence day. How many im not sure o
Going at the moment. Off by 1 . Its all about the meeting between opec and their allies as to whether they can start to restrain supplies. Its time for your morning brief and a look ahead at the week. Nonopec members will discuss compliance with production cuts. Disney out after the close on tuesday. On wednesday, south african faces at Jacob Zuma Vote of noconfidence. Friday is u. S. Cpi data. The markets will be paying the most attention to those numbers on the heels of strong jobs numbers last friday in a continuing question of why we arent seeing more inflation. As you can see from this chart, the cost of protection inflation is largely down so far. Markets, two bond market tightens, black mark and blackrock and vanguard journey me now is paul richard. Welcome back to the program. Answer this quandary. Where is inflation . Shouldnt it be higher given all the other phenomena . Is hiding somewhere. I think vanguard and blackrock are right. It is coming. We just dont know when. You ca
Us to believe that is the man he knows and is more familiar with. Lets get up to speed, a firm tone. This morning a little bit softer, down about 1 10 of 1 on futures, equities treading water, but in the fx market it is a stronger dollar story with yields pushing higher on treasuries. 2. 47 on the u. S. 10 year. Alix the curve is a little flatter, curious when you have the market relating fed expectations. The fix is slightly lower but im surprised it is not at 10. Softer, and oil not participating in any kind of risk on rally. Jonathan apparently it is not the only game in town but a big player, the Federal Reserve. The chief dov signaling they might be ready to move on rates. Brainard said the economy might be Strong Enough for the fed to make a move this month. We are closing in on full employment. Inflation is moving gradually toward our target. Foreign growth is on more solid footing and risks to outlook are more balanced than in some time. Appropriately be soon to remove addition
David i dont know how you put those two together. They are two different people. Jon neither do i. Deutsche bank chief economic analyst will be joining us this morning. Futures, a little bit softer today in the United States. In europe, lower for tents. The euro, a little bit weaker. German tenure is the best performer in europe. The dollaryen had a little bit of risk aversion overnight. Gold softer on the day, oil, softer on the day. Two political risks nothing like what we are facing here in the u. S. David the Deutsche Bank stock jon the Deutsche Bank stock, down this morning. Own cryan ripping up his. Urnaround plan the effort include selling part of the Asset Management business. Francine lacqua spoke earlier about the new strategy. Remember, i described as Capital Raising. Yet she need to advance it. I think, one year ago it would have been much more difficult for us. There is still a lot more uncertainty. I feel more comfortable sitting in the seat i sit this year than i would h