Rates are the second time this year, but Jerome Powell says only moderate policy moves are needed from here. Down, a more turn extensive sequence of rate cuts could be appropriate. We do not see that, it is not what we expect, but we would follow that path if it became appropriate. Anna the fed also plans a cash injection to tame the repo markets. Sticking to its guns, the boj calls for an october review after leaving policy unchanged. Investors look to the bank of england for their Interest Rate decisions later this morning. A halfhour from the european open. Treasuries, let me trim this chart down. We have come back down from the fridayike we shot up to my currently trading at 1. 70 after Jerome Powells press conference. We see futures pointing to a negative open in europe. On the s p more tellingly. French futures flashing a little green. Off almostures are 0. 25 . What do you also see . Anna u. S. Futures do not will bethe late rally sustained into todays session. We see negative r
Central banks are a primary focus, an seen the initial focus this week. Ecb mario draghi is due to address people in sintra in just a moment well stay tuned for that piece coming up in a short while the Federal Reserve is expected to keep Interest Rates on hold at its twoday policy meeting that begins later today. Invest and economists said there remains a high likelihood of a rate cut later in the year analysts from bank of america, jpmorgan and bmo forecast the cut in September Jpmorgan and bmo said they also expect another move in december. Goldman sachs and citi, they dont agree with the assessment. They say their best case is that the fed will take no action at all in 2019. Theyre calling for a cut in june, so thats tomorrow well see what happens here in europe, the ecb flagged it will postpone any rate hike until the middle of next year. Low inflation has hampered the eurozone in recent years and the central Bank Launched a fresh round to boost the central bank. Annette joins us
Critical decision on whether to raise emergency funding for banks. Raising the toolbox. Beijing steps in with unprecedented measures to stem volatility. Thus its another erratic market with stocks giving you have gains. And the rolls royce issues a profit sharing. A new style of management. Okay. Lets get straight to having a look at what markets are doing in reaction to this surprise result in the greek referendum as you can see. Predumb pant thatly red in the to the stoxx 600. The declines 1. 2 . Perhaps not quite as big as could have been expected given so few people predicted the results of the referendum. And we had a similar reaction to the markets exactly one week ago after the announcement of the referendum. I guess the markets learned from their experience last week. They saw this was a knee jerk reaction and will focus on the early talks. Meantime, Yanis Varoufakis has resigned as his position as finance minister. In a statement, it states his absence could help the governmen
Creditors what he called terrorism. Meantime, greek banks remain closed today. The atms are running out of money. The ecb is holding a Conference Call today tole try and decide how long to keep a life live at the banks. Meantime Germanys Angela Merkel will meet with Frances Francois hollande today. And theres a meeting of creditors today. We were talking before the show it just is confounding to me just watching it happen. It almost looks like you get so defiant at some point, youd almost rather inflict your own demise, than have it inflicted by somebody else. And i think thats part of what happened here. Merkel saying by the way, she thinking the greek Prime Minister basically drug his people into a wall. If youre a creditor if youre a socialist and smart money like thought that would never happen. Once it happened i guess all bets are off. You cant assume that theyre going to have some sort of all attitude about in the middle east, about democracy, no longer do i think we can expect
Said, this tax policy could end up in the policy trade jar of 2017. Theres a lot to do to get that through the United States of america. European equity markets are higher this morning. A couple of key stocks reported as well. Slightly better off as well. Opening sweeps on air france stock. 39 , tourism up rebinding, higher fares helping the market. In you will get a supply chain you want to understand and see the apple story. Its usually going to be long. Try to convince anna edwards to sit and sleep for me. It will keep we will keep a response. Energy is up. That will be on the back of a couple of things. Oil is moving. 88 , profitability up 88 . Profitabilitythat 706 million. Seeing a movement in the energy space as well. A lot of that priced into the eurodollar relationship as well. Bottom of your screen, 7. 92 . What are European Fund managers focused on . The stock market, higher than 2011. We are talking about a wave of recovery. For 2011. High s thirdquarter result double digit