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good morning, everyone. this is bloomberg surveillance. this hour, we are joined by the global head of strategy at martin s family morgan stanley. we also talked to the current coo and soon-to-be ceo of the bank of morreale. in the meantime, we have a little bit of breaking news. pmi out of the eurozone. this is exactly what we are getting. we are looking for a little bit of euro reaction. pmi falling to 55.4. and little bit better than expected. not as strong as the month before, but they have been revised upward at 54. we were expecting 53.7 figure. these other markets over all. we are seeing a little bit of a risk reversal. this after the u.n. is set to meet on the north korea threat. what it means for the markets is yesterday there was clear demand, but today not really phasing the yen. gold is down a touch or pretty much flat. stocks seeing small gains, gaining 0.1%. we will have plenty more on the markets but let s get to the first word news. bank of england p ....
$10 billion a month, ramping that up to $50 billion a month in quarterly increments. they could not agree. several committee members favored starting in a couple of months. that. preferred to do for er that.fer to def it could be argued that some of the dots would prefer to get more time before taking any action related to the balance sheet. some of the doves would prefer. more hawkish members may prefer to move ahead with another interest rate increase before the balance sheet is taken on next. ,n the question of inflation the official message from the committee is still viewing inflation of the recent dip in inflation as something that is transitory. committeembers of the doesn t several participants expressed concern that progress toward the committee to present longer run inflation objective to present longer run inflation objective might have longer run% inflation objective might have slowed. there were some senior fed officials, including janet yellen come w ....
ahead of friday s g-20 summit. at 10:00 we get factory and goods orders for the of may. this afternoon the fed will reap the fomc minutes of last week s meeting. president trump will be heading to europe for the g-20 summit. the question is of may. this afternoon the fed will reap the fomc whether they are going to spend the time talking about geopolitics or trade. here s kevin cirilli. we thought it was going to be all about trade. it doesn t look so much right now. it looks like it s going to be all about north korea. the administration sending clear singles they are hoping to put pressure on north korea. as a result of their testing of an intercontinental ballistic missile on the fourth of july. we should note that secretary of state rex tillerson has echoed u.n. ambassador nikki haley who has called for there to be a laterl you in meeting this afternoon with the security council. i want to pull up a statement from the secretary of state who said in a statement tha ....
good friday morning. welcome to squawk alley. i m kaylee towshe. rick santelli joins us as well. carl quintanilla has the morning off. executive editor kara swisher. good morning to you too. how you doing? i m in d.c., actually. all right. let s get to our top story today. i think we ll work on kara s audio there. shares of microsoft at all-time highs this morning for the first time since 1999, the company beating the street on the top and bottom lines and showing significant growth if the cloud. former microsoft ceo steve ballmer joining our friend op squawk box talking about the stellar quarter and a potential acquisition of twitter. i have never, ever, ever wanted to buy twitter myself. i mean, come on. i ve got a good life right now. i don t need to do that. of course, mike, they asked the question because he is a large twitter shareholder, not just an outside tech observer. interestingly on microsoft this morning, people are joking that it only took 17 ....
surveillance. i am mark barton in london. just getting some data crossing the bloomberg terminal. german business confidence just crossing now. thectation is up on previous month, up from 104.5 to 106.1. the actual business climate and improvement from 109.5 to 110.5. the current assessment is also up. so business confidence in the euro region s biggest economy is increasing. have a look at what is happening to assets today. we have had two days of finishing little changed for the stoxx europe 600, up by 0.3%. a host of companies reporting earnings. the longest losing stretch since may. diversions between the euro area and the u.s. the 10 year yield is down a basis point today in germany. there is the offshore yuan. chinese policymakers signaling they are willing to allow greater currency flexibility assets in then dollar. the german 10 year yield which i alluded to in european banks stocks something special happened. european bank stocks erased all their losses from ....