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Afternoon towards t close. That will be your best guide to what is happening. We are approaching the point in europe and we are up by 1. 73 . The pound is actually catching a little bit as well. Earlier on it was turning around a little bit. Now abide. 2 . Now up by. 2 . Normality has resumed. Yields are a little higher and prices a little lower as we start to maybe get a little bit of a better news when it comes to the story. We are watching what is coming out of the u. K. We are now getting news from astrazeneca saying the covid19 trials, the vaccine trial may resume next week. This has been reported by the financial times. Alix we are watching that as well. Blackrock,from marilyn watson. It has been quite a week for investors in any asset class. You had a tech selloff in the u. S. , rising cases in europe. Looking to the ecb on thursday. Our bond markets pricing in the correct things . Markets aret bond pricing in our the fact you have supportibly ands weolicy from the ecb and need ....
Nejra welcome to daybreak europe. Lets get a look of the markets. Another day, another record for the s p 500 with communication and tech stocks leading the gains. The s p 500 riding rising above 3200 ever. 3200 for the first times ever. The 10 year yields steady. Still above that 190 handle. Could we push towards 2 on the optimism over u. S. China trade. Atexpect a deal to be inked the start of next year. Lets switch over the board. Yesterday, we touched 31 basis points, the steepest since october 2018 on the 210. That reflects the view in the market that we see a little bit more today. Recession fears receding for 2020. We speak to socgen this hour. They have gloomy forecasts out there. No deal risk has been coming to the top of investor minds again. Oil also heading for a weekly gain on optimism around u. S. China trade even if we are flat today. , andrew of england bailey has been chosen to succeed carney as governor. The chancellor could reveal the appointment later today. Governo ....
Manus a warm welcome to bloomberg daybreak europe. Do you believe that phase one trade deal between the u. S. And china is the most momentous day in trade history . Those are the words of lighthizer. Bank of america, a cracking note out this morning. Get ready. It will be frontloaded. 5 up on the s p 500. To e old rates are going bang up. Nejra how worried should we be about the potential curse of phase one and done . We have seen a risk rally. The phase one trade deal for china but also the u. K. Election, but the question this morning, as we sit here going into 2020 becomes is the absence of some bad news going to be enough for risk assets or do we actually need more good news to come along . Manus indeed. To the markets. There are the believers, the doubters, and there are a course those people that have yet to be convinced. The yuan is truly one of the believers. We come off that break point down to one of the biggest 1 ony drops moving by friday. What does it take to rerate you wa ....
Starting off the week at 1. 53 . Athave an offshore renminbi 7. 1274. One to watch because china comes back from vacation tomorrow. 107. En is firmly below guy letsguy talk about what weve got going on in europe. We have a picture of a positive of a market, which is positive equity market, which is more positive than an hour ago. I will point out volume is very light on both sides of the atlantic. The pound is down, but not by much. 1. 2321 on the cable rate. The turkish lira continuing to weaken quite sharply, now down by 1. 63 . Lets return to the middle of those three markets. U. K. Prime minister Boris Johnson a welcome boost from the courts after a scottish judge ruled in johnsons favor in a case that could force them to obey a law requiring him to obey brexit to delay brexit if you cant reach a deal. Buckley,ined by George Nomura international chief u. K. And european eco ....
cheering thank you for putting your faith in me to thank you for putting your faith in me to lead thank you for putting your faith in me to lead our great conservative party liz truss will become prime minister tomorrow what s her answer to some major questions facing the uk? i will act immediately on bills and on energy supply. he ll have to leave number 10 first have we heard the last of him? he will be a great loss to politics, but hopefully it ll only be a temporary loss. and will prime minister truss be able to unite her party after all of this? £40 billion more borrowing. i that is the country s credit card, i it s on children and grandchildren. it has been a busy summer and a busy first day back. i m joined by gerard lyons, wes streeting, sebastien payne and isabel hardman. we ll bring you all the developments as they happen. first let s show you how the results looked. just over 57% to liz truss, just over, actuallyjust under 43% to rishi sunak. and l ....