Across this nation and worldwide. In morning on bloomberg television. Coming up, an important conversation with the vice chairman of the Federal Reserve system, Richard Clarida of columbia university. Jon, were way out front on the collapse of the United Kingdom suffered on the pandemic. But the bombshell you and i didnt see was the Prime Minister taking this Natural Disaster out to march of next year. Jonathan and maybe beyond. We certainly didnt see that in march 2020. We had three months of happy talk around europe versus the u. S. Many people have come on the program and talked about it. The data is not great either this morning. The service data softer than people expected. Manufacturing data ok. Do we start to hit some road bumps not just on the policy around covid, but also on the economy and this recovery . Tom what is your measurement of the American Economy now, in the many conversations you have on this . I am getting the sense of down big, up big, but i dont understand wher
U. S. One report says the case has already been pulled. Jack ma seeking more than 17 billion in hong kong as a dual listing. It says it does not need cornerstone investors. We have the latest on this blockbuster sale. Shery he was futures coming online flat after u. S. Stocks fell to an eight week low in the regular session. Warnings from various fed officials of the need for more fiscal stimulus. We saw the selloff continuing. Volume below the average over the past 30 days. 11 sectors on the s p 500, all of them lower by more than 1 . Energy the worst performer as we continue to see Dollar Strength rising against every g10 peer to a seven week high. Oil is extending its losses. We saw some gains earlier in the new york session stop bullish york session. Gains limited by fed speak over the economic recovery. Haidi lets look at how the Asian Session is shaping up. Taking a look at new zealand stocks, we continue to process the rbnz rate decision. A steady beat of the drum roll toward po
Paying more than 1 billion australian to settle a Money Laundering allegation, the largest corporate find never levied in australia. Tiktok drama turns another page, owner bytedance asking a judge to halt the ban in america, Chinese State media slamming u. S. Dirty trip u. S. 30 tricks. We heard from larry kudlow in the last few minutes, downplaying expectations we will be getting any more fiscal stimulus through the pipeline, larry kudlow saying he doesnt think the u. S. Needs another stimulus package and that they will be doing targeted measures only and need to be smart about this measures. This comes after course of fed officials, including chair powell, saying there is a long way to go for the economic rebound, we heard from several others, all saying there is further need of more fiscal stimulus to do that heavy lifting. And that comes after congress ended its pursuit of a bipartisan spending bill and are now focused on replacing Ruth Bader Ginsburg on the supreme expected thisin
Slightly pressured. 650 billion are wiped out in u. S. Equities in one day, yesterday. A lot of it has to do with the dollar. On track for the best week since april. That is hurting sentiment around the region. The aussie dollar is hovering around the july lows. You have more calls for a cut of the cash rate from the rba next month. We see yield heading lower in australia. 105 for yourat offshore renminbi. Slightly stronger for the pboc. Here are where yields are. 67 basis points. We continue to watch whats going on in the aussie 10 year, and the china bond inclusion could happen later on today with that ftse russell. Russell wreste. Could spur inflows into the market. We are watching commodities with the Dollar Strength. The metal is falling off. Silver, copper and aluminum taking the biggest hit in the last 24 hours. The marketre on action we are joined by our mliv strategist in singapore. Question of the day is what i want to start with. What assets suffered most from deleveraging .
Markets slump as warnings from the fed on the need for more stimulus ignites fresh jitters. Powell and mnuchin take the stage again today. Partial measures. France cracks down on gatherings and bars but will not impose a full lockdown to stem a surge in virus cases. Do it like the germans. Richie soon act will set out a new crisis plan to protect jobs today. One proposal is for a wage top up scheme for workers who return parttime. Otherwise known here as we are under no an hour away from the start of cash trading in europe. Big drops anticipated for european stocks. You can see ftse futures down 9 10 of 1 . Dax futures down 1 . Down even futures more. U. S. Futures dont look as bad. Remember, u. S. Stocks took a big hit yesterday. Europe escaped losses. Europe has catch up play on the way down. Set, at least in the s p and dow, to stabilize. Anna absolutely. Thats a crucial transatlantic difference in time. We ended in very different places yesterday. Lets have a look at the gmm. You c