Surveillance. I am Francine Lacqua in london. Here are your markets, you can see the stocks europe 600 is down. But nothing like some of the anxiousness we saw over the last couple of days. There is definitely a deescalation, so in certain parts of the world, there is relief in the markets. Im looking at eurodollar 1. 180. If you are looking at the yen, it is also a little bit off the anxiousness we see out there. This is the picture for the u. S. Yield, one of the main metrics we have been following closely. Look at the 30 year yield over the rest of the day. Coming up, a conversation with mike wells, chief executive of prudential. Lets get straight to a to bloomberg first word news. We begin with the German Economy, shrinking in the Second Quarter, piling pressure on Angela Merkel. Economyht, she said the was going through a difficult phase. From the previous three months, output fell and exports slumped as the trade war hit manufacturers. The italian Prime Minister has been called t
Taxes, american cartoons and comics during world war ii. I can remember, from my days in tokyo chapel school, where our pastor gave us a sermon that has stuck with me ever since. The lesson of it drove from two part. To separate to biblical text, one is from second kings if youre interested, chapter 4, where the private elisha, not elijah but elisha, has him bringing 20 rolls of barley and he has to feed 100 men. And his servant asked him, how are we gonna do that . We only have 20 rolls of barley. The prophet says, give them to the men, that they may eat, for that as of the lord they should eat and have some rest. So he said it before them in the eight, and they had some left, just as the lord told them, theres an incident from the new testament where, jesus is confronted with a crowd of people 5000, how will we feed all these people . One of his disciples says heres a young bully, with five barley loaves and two fish. Not a lot. It could take like six months of pay to feed the crowd
If need be, but get ready for things to get messy if he tries to. First, our top story, u. S. Another deepng selloff, surging as massive signs of an economic global slowdown stoke fears of a recession. And be tech driving the losses. Amazon and microsoft deep into the red. President trump rekindled the trade war with china at the start of august. The s p 500 down 1 intraday for 11 straight sessions and is now down six are sent from the july record. 6 from the july record. We are joined by an expert. A lot of blonde buying today. Lot ofes that mean a bond buying today. What does that mean . Record low, at the same time seeing a long rally to we see the inversion between the twoyear treasury yield and the 10year treasury year to for the First Time Since 2007. No, we are no longer in negative territory, however, that does stoke concerns, so what does that mean Going Forward . If you think of some of the most high beta areas of the market, tech is largely put into that group, maybe not as
And pushing back president trumps insistence the twoyear viims in the 2016 was a witch hunt but he didnt give democrats the Game Changing moment they were look for. It remains unclear whether republicans will do anythingto mbat what mueller warned was an active threat from russia. Joining me ishe onposi of partners on both sides. There wee key moments in which she indicated that he would not be able o charge the president sitting president under the department of Justice Policy and president could be charged after he leaves office. For republicans, thefound more evidence that in their framing of it, the mueller rert is not producing any damming evidence against the president and it was a last, last gasp hail mary attempt for democrats y to make political out of this. You agree . That was a big moment. Hink its. The witch hunt. But mostly not only stuck to the four corners of the report but we read from it right. Does anything surprise you. Nothing surprises me going into it everyone fi
You mentioned their expectations were heightened with the surprise meeting on the d. M. Z. Between donald trump and kim jong un just nearly a month ago now with the announcement that say yes things were back on track were going to have working level talks to get negotiations underway again were still waiting for those working level talks to happen my pompei o has said that they could well happen in july while july is running out and what you do get a sense that patience on the north korean side is once again running out kim jong un has given a deadline of the end of this year for some sort of resolution of the ongoing ongoing sanctions against north korea and so this does seem to be a further warning that yes these are only short range missiles were not seeing a return to the Intercontinental Ballistic Missile testing or Nuclear Testing so it still gives donald trump the chance to say that his. Signature piece of Foreign Policy is still on track but it is a warning that time is running