Index, just marginally down. The real story has been the bounceback after last weeks fall for bitcoin, approaching record highs. 19,595. 1. 1 to the upside. Drivings within opec that crude oil price down. Lets look at what is going on in the emerging market context. Asian markets are bouncing back nicely after yesterdays big move to the downside. What has been responsible for this change in mood . , onethink first of all should partly see yesterdays price action as an anomaly. I think the Way Investors are now returning to the positive things like easy fed policy, Global Economic recovery, which was confirmed by asian pmis and the index that just came out, and optimism about vaccines. Juliette and your team has written a piece on the e. M. Currency outlook for 2021. It reads quite positively. What is the basis for all that optimism . Maybe there are three reasons. First, valuation. We believe that emfx is undervalued and conditions should be conducive to pushing them into overvalued te
He said simply, this doesnt matter, and december could be green. Could be grim. Jonathan the markets are looking at the data in the second half of 2021, not 2020. Tom jon will get to the data of a market lifting and all of that. This ecb announcement a bit ago is buried, and im sorry, it just sets up the theme of extend and pretend into 2021. They are going to extend bond buying forever and ever. It is Central Banks to the rescue. Jonathan the ecb wants you to focus on the duration of the Bond Buying Program and not the size of the package they might announce this week. That has been a big push on the communications side. I imagine that will be the focus for them when they communicate with us. For us, we are all getting used to the idea that Central Banks will be there for us. Weve been conditioned by that all year. The biggest challenge through 2020 was to somehow divorce how you feel about the world around you from your view on financial markets, on where we will be 12 months out. Th
Vaccines. Virus deaths hit a record in the u. S. And in italy. And finding a compromise, opec agrees to slowly add more oil year after days of tense talks. Saudi arabias Energy Minister called the process of excruciating. Welcome to the program, everybody. Welcome to the European Market open. It has just gone 7 00 here in london. German factory orders rising 2. 9 month on month. The estimate was for an increase of 1. 5 . That was better than anticipated. Factory orders arising year on year, 1. 8 . The estimate was 0. 2. We have seen a continuation of growth coming through. We will see what momentum is like in the further winter months. Another story out of germany, potentially more interesting, perhaps. Germany has agreed to extend a to preventr bankruptcies as the economy is hit by the second wave of the pandemic. Germany is extending its 37 billiondollar backstop for Credit Insurance by another six months in the month of june. The industry will surrender 60 of remittance to the gover
Just gone 10 pm here in the russian capital from the whole team. A very rude welcome to well, lets start off by talking about how an investigative news website is claiming to have been blacklisted by british intelligence. Declassified u. K. Is known for exposing military activities and government surveillance reporting, from english capital. Its the saudi, the classifier, the u. K. , and the head of investigations. Matt ken are these a form of financial times. Journalists, theyve been blacklisted by g c, h q, and a number of internal email showing that staff are being told not to engage with. , that doubt that declassified u. K. , blacklisted by g. C, age killed. Britains largest intelligence agency, internal emails from shell, which will not been gauging further with math canada, declassified head of investigations. The day he published what the agency privately disparaged as a negative long read about its secretive schools program. According to declassified, u. K. One particular line
Jimmy li will join me this hour in this exclusive interview. Markets on the upswing to begin futures. Take a look at dow industrials 344 points. Nasdaq up 109. Thats almost 1 . S p higher by 9 points. The dow posting best month since 1987 with gain of almost 12 , other averages also higher by 12 and 11 all this as we await key testimony from federal jay powell and jimmy mnuchin today and unused covid relief funding. Return to high seas, we are taking you on a port on how they are getting ready. Another missing monolith moved. Making a buzz this morning. Mornings with maria live right now. Maria all right, european markets meanwhile look like this as rally is underway on wall street. European markets higher across the board. Ftse up 123 points. Almost 2 , cac quarante up 62 and dax index up 135. British factories reporting fastest growth in 3 years. Purchasing Managers Index rising to 55. 6 in the month of november. In asia overnight green across the board. Chinas manufacturing pmi54. 9