But nothing to write home about. A five day basis is down circa 3 . The stoxx 600 is higher today. We are getting a little bit of a positive bounce, but it is only less than 0. 5 . Considering what weve seen throughout the week, german yields are reasonably flat at the moment. I think its been at the front of the u. S. Curve this week we seen the biggest shift as the market has gone from pricing the possibility of a cut in october 2 the certainty of a cut in october a cut in october to the certainty of a cut in october. Boris johnson under clear pressure now to figure out a way of meeting a deal work. Parliament seems to be getting on his side, but maybe the eu less so. The cable rate trading at one point. 5 vonnie in the u. S. Trading at 1. 2295. Vonnie in the u. S. , the payrolls report has something to do with it. We will talk with erik nielsen about that in just a moment. At 1. 52 . Ar yield spread, weve stopped looking at it above 11 107s points, and well below on the yen. Total n
We see a bit of a drop when it comes to european stock equities, down some 0. 4 . A lot of the focus is on what Central Banks will and wont do in the upcoming days. Looking at pound, because of herschel he parliament and the suspended. Rogued, 1. 63, soear yield at it is stabilizing a little bit. We will be speaking to a Morgan Stanley chief executive. That interview coming up at 7 30 p. M. London time, but first, lets get straight to new york city and the bloomberg first word news. Of the chineser communist party taking aim at comments from a peter navarro, saying they are unconstructive lies. The president ial advisor is considered a hawk. He has repeatedly accused china of seven deadly sins. The peoples daily says such comments are preposterous. Te winningster con the first of two confidence votes in the italian parliament. Withomised to work closely brussels on a 2020 budget featuring lower labor taxes and a minimum wage. Later today, his Government Faces a senate vote. Factory pri
Expected. The u. S. Just continues to get it done. Its all about record highs in the market to lets get a check on the markets. Gain for the first half of the year and that means risk on is gold falling back down through 14 an ounce and a little bit of a lift off on the long end. Rate expectations for a fed cut in july continue to remain in place. That theymething might be happy about is dollar weakness relative to yuan strength. We got some resolution for now on the g20 and some concessions on huawei. As we stick with asia, we have been talking about china and we go over to a conversation we are having in hong kong where you are looking at live photos o building which is the Legislative Council building. We will be live in hong kong in just about 10 minutes time. We know that hong kong protesters had breached the building and there you see it, live photos inside as they march on the july 1 22nd anniversary of hong kongs handover back to china. The union jack is in the center stage. Le
The june 20 record we had of 29. 54. At 2944. Now at 2966. To 14s fallen back down per ounce. We take a look at what that means for the two tens. Inare spending a rate cut july. Trying to get a lift, yields going out to 10 years. The story, as you know, always continues to be about trade in china. You are looking at dollar weakness relative to you on strength two yuan strength. Asiango over to our conversation, particularly over there with hong kong, we know in the last two hours we had protesters breach the Legislative Council for our global audience in hong kong. We had an update by sophie, on the ground for us. This is as they mark the 22nd anniversary of turning back over from the u. K. To china from hong kongs perspective. We will continue to get more updates from her in about 10 minutes time, where we will be live from hong kong. Guy absolutely. We are watching it very carefully in hong kong. Lets get back to what is happening with the markets. Local Global Equities rallying. We
dubai. we had record highs on wall street late friday and all that positive momentum is carrying into the european equities story, as well as into u.s. equities. the s&p 500 mainly. you are looking at lighter liquidity in london markets, which are closed for the holidays. bloomberg commodity index is another highlight as you try to craft the narrative for the coming hours, extending a rally after hitting the highest since 2018. most of it has to do with the ailing dollar. that is what they have in common. u.s. 10 year yields, drifting low were. drifting lower. it is the end little bit weaker after traders are on long positions prompted by news that the prime minister is going to be resigning. let s get you some of the other stories we are watching. the bloomberg first word news with leigh-ann gerrans. saw then: this weekend third death in less than a week amid racial equality protests. a man was shot to death in portland, oregon on saturday night, a supporter of a right-win