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Lizzy good morning. This is bloomberg daybreak europe. Im lizzy burden in london and these are the stories that set your agenda. Rebound in china and hong kong healthstream losses but contagion fears mount over chinas property sector and sluggish economy. Divisions over a decision most fed officials see significant upside risk to u. S. Inflation, but two favored leaving rates unchanged. Plus, the one falls, shrugging off beijings most forceful guidance since october. The yen tumbles through prior intervention levels to near its weakest this year. Welcome to thursday. The two stories of the week have only gathered pace. First the fed looks like it will keep rates higher for longer, that narrative strengthened by the latest fed minutes and strong u. S. Seco data. November pricing picked up slightly and investors are selling treasures. The Market Outlook for 2024 is its most hawkish yet. Twoyear yields hovering around 5 . The 10year ....
Uncalled a critical moment for the region. Stocks in asia rising as investors await the results of diplomatic efforts that may help contain the israelhamas war. Gold is moving lower. Vladimir putin arrived in china on a Rare International trip for talks with xi jinping as the u. S. Presses beijing to reduce tensions in the middle east. Let me bring you breaking news the corporate space. We are getting numbers out of ericsson. The Swedish Telecom maker has Third Quarter net sales come in at 64. 47, will call it 5 billion swedish krona. He got perhaps a number that they already announced a 5. 2 drop previously with 64. 5 billion what they announced last week. This is a drop on the 60 billion a year earlier. You are seeing headlines come around their adjusted gross margin. It is 39. 2 . The ebitda margin dropped as well ....
Annabelle we are counting down to asias major market opens. Paul australias just come online for trade. Traders are looking past a harder than expected u. S. Ppi reading to focus on less hawkish fed commentary. The latest meeting minutes, noting the risks of both over and under tightening. Israel forms an emergency unity government as officials indicate they are preparing for a massive military assault on gaza. Annabelle weve got the open of the asx 200. You can see a very modest gain coming through for aussie stocks. That is a sixth session hi. It follows the gains we saw in the wall street session overnight. What we are watching today essentially is a that story thats come through in treasuries, lower yields, being reflected in the aussie three year, the 10 year. The policy greenback, a little bit firmer aussie greenback, a little bit firm. Traders are taking heed of the dovish views coming through from the fed, expectation around what the fed does next and perhaps we will not see a ....
As consumer spending. Brace for furloughs as the Government Shutdown looms with a lastminute deal looking unlikely. Shares of carmakers gaining again and the Auto Workers Union is dialing back its push for a 40 pay rise. That report said u. S. Stocks slightly higher in the new york session, we saw stocks rebounding and we also had to contend with technicals where we were nearing that oversold territory for the s p 500. Right now, 14 to april tip strength index around the 35 level, you could see u. S. Futures extending those gains as well. We saw the treasury selloff cooling down a little bit, the 10 year yield backbone hope 4. 6 . We have data that we were trying to digest, including consumer spending, rising at the weakest pace in about a year last quarter, not to mention comments from a couple of fed officials that took it more devilishly. We have the dollar index ....
For the time being. Our road map with the markets under continuing pressure after logging their worst day in more than a month yesterday. Jc penney reporting a smaller than expected First Quarter loss and nordstrom reporting a better than expected firstquarter profit. The seafood lover darden selling red lobster to Golden Gate Capital for 2. 1 billion in cash. A whale tale, the money swimming into verizon. Well explain that later on. All right. Futures as you said, you saw relatively stable after the stock markets worst day in about five weeks. The dow posted the 167point drop. S p fell almost 1 and the nasdaq is now in the midst of a threesession losing streak. During our program yesterday you saw the tenyear note fall below 2. 5 for the First Time Since last october and the russell intraday hit that official corr ....