Day. Thet issues and trade, ongoing battle between the u. S. And potential cyber warfare. Here in california. A lot of people commute. It is a feeling our colleagues in asia have been living with for weeks. How are markets opening up over there . Paul some unambiguous signals. New zealand has been open for an 2. 5 , aready off by move down of similar magnitude for futures in australia. 4. 5 , theures are off kospi weaker as well. We continue to see strength in the japanese yen. A lot of data coming out of japan today, retail sales, tokyo cpi, both of those contracting, even before the coronavirus outbreak. Take a look at the yields, big move down. Of at a fresh record low. 83. Global stocks plunging to fourmonth lows, u. S. Equities falling the most since august 2011 as anxiety over the coronavirus deepens. Lets get to Abigail Doolittle in new york. A lot of red. And id be on the close. Averages all down more than 4 , there was a rebound rally attempt. Turned briefly higher, but that i
Now, do we want our banks to continue financing fossil fuel projects such as Oil Exploration . Well, europes Climate Change credentials face an acid test today. Eu finance ministers will decide whether to back a plan by the blocs lending arm, the European Investment bank, the worlds biggest multilateral lender, to end loans to coal, oil and Gas Companies beyond next year. The decision comes against a backdrop of investors increasingly offloading their fossil fuel holdings, among them norways sovereign wealth fund, the Worlds Largest, which is dumping more than 13 billion of investments. But, despite millions of eu citizens joining climate strikes and rallies in recent weeks, the eibs plan is opposed by the European Commission and countries including germany, italy, poland and latvia. They want to keep funding gas projects to help the move away from coal to renewables. Germany is aiming to close its Nuclear Power plants by 2022, but doesnt plan to phase out coal Power Generation until 2
Doing very well, up by. 4 . Will play out. Is thiso think it means. 7 . An see pound down by would a trade truce make you happier or a more aggressive investor or do you think this is if we look at the sectors doing something that is going to take uncertainty around global trade well. Even though we see longer, possibly past the 2020 and trade policy is going to persist. It is not just between the u. S. Elections . Truce would a trade and china. Markets up, we shouldnt we still have overhanging europe riskon. That as too at the margin make us more the potential for auto tariffs and we have gotten quiet on aggressive as investors if it that. I do not think that should be was a real truce and not just completely taken off the table. We have other uncertainty some agreement to talk. So that is a look at some of the associated with things like that the tariffs are moving brexit. Markets. Lets look at the other side of is isuggests to me the markets, dollar index. The dollar just a touch to
A bond rout in overdone . Been overdone . Another survey said 50 Job Vacancies have slumped. It talks about a seismic drop in brexit starting to bite. Bitcoin has a bad day. The cryptocurrencies slums on new south korea is planning a crackdown on bitcoin exchanges. We are half an hour way to the european open. Take a look at the futures. The wei trading up and futures mispriced, we will have a slightly positive open. You can see the cac less than. 1 of 1 , the ftse even less in the positive territory. Take a look at what is much more exciting and that is treasuries. The 10 year yield is what anybody is watching. The question is, are the biggest names in finance wrong . Bill not bill gross, jeff dunlop gundlach. Continuing to buy treasury. That would be hard for the market to bear but we have the yield coming back down, 2. 45. Lets get the bloomberg first word news. Says in report claiming officials reviewing the countrys Foreign Exchange holdings have recommended halting purchases of u
Down. 4 . Downllate inventories was 3. 8 million cubic feet, when we were looking for a build. Ninthsting report for the straight week of drawdown, and a big one, mark. Mark take a look at where the equities are trading. 30 minutes away from the thursdays session. Little change for the benchmark stoxx 600. This is the wonderful gmm function. What you can, ireland, germany higher portugal, ireland, germany higher. Greece is lower. The euro this and continues descent continues. Bonds, commodities from your other 2 columns, mixed there. , higheriveyear commodities. Aluminum, natural gas, the other ones we are focusing on today. The economy feeling the first fullyour acceleration since 2010, underpinning global growth, giving authorities more room to purge excessive borrowing. Gdp up 6. 8 in the fourth quarter. Turnaround is too strong a word, says our bloomberg chief asia economist in beijing. He says there is still a mountain of debt and major structural challenges to address, but compar