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I wanted to point to the mexican peso. Has not moved much today but we are keeping an eye on the earthquake that struck the country. Now lets get a status report on the credit markets. 13 u. S. Companies sought bankruptcy parks section protection last week. It comes even with the intervention of the fed which has injected liquidity across the markets and given borrowers. For more insight, lets bring in srikanth sankaran. The last time we spoke, we were already seeing a calming in the credit markets. Where do we go from here now that the fed has backstopped entire curve in the credit market . Srikanth our thesis over the next 12 months is we get a grind tighter with respect to spreads. Our call is for credit markets to deliver positive exit returns across investmentgrade and highyield markets. Effectively, you want to be more selective, but at the end of the day, this is an environment where you have to look at rerisking portfolios in times of weakness rather than missing out when the m ....
That final tally 52 votes to leave, 48 to stay. David cameron was on the wrong side of that outcome and he announced hell step down as Prime Minister by october. 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. I will do everything i can as Prime Minister to steady the ship over the coming weeks and months, but i do not think it would be right for me to try to be the captain that steers our country to its next destination. On the flip side uk independent leader nigel farag jubilant. Dare to dream that the dawn is breaking on independented United Kingdom. Let june 23rd go down in our history as our Independence Day [ cheers and applause ] obviously v ....
Extending the biggest twomonth tumble since 2008. The purchasing Managers Index was 49. 7, down from 50 in july. Anything below 50 indicates a contraction. Lets get straight to the chief asia economics correspondent, in hong kong. What does this data tell us . I guess it shows that there is no autumn out just yet in chinas slowing economy. I will say that these figures have been distorted because factories around beijing in particular have been shut down to try and clear skies ahead of a very important military commemoration this week. There was a big athletics championship run in beijing also over the last few weeks. A fair bit of distortion on these numbers, but at the same time, it illustrates that the policy the rate cuts arent really getting traction just yet from china. The slowdown that is gripping the factory continues. That thisany sign figure has to be taken with a pinch of salt because it has been distorted . They are t ....