s&p up by a point. nasdaq down by about 4 points. overnight in asia, the nikkei up 0.2% the hang seng up by a quarter percent. the shanghai up by a half percent. this is all ahead of those talks expected to resume next week between china and the united states when it comes to trade. this morning on the continent, in europe we will see equities for the major averages, the dax is flat. the cac is up by 0.6%. the ftse is up by a quarter percent. in the treasury market, you can see at this point the ten-year is yielding 2.031% we ll be getting a lot of earnings, big earnings movers in just a minute. first a developing story, the embattled governor of puerto rico will be stepping down on august 2nd the announcement coming late yesterday. he had been under pressure from protester force ne he had been under pressure from protester force ne for proteste nearly two weeks after chat messages were released crowds of demonstrators erupted into cheers after that announcement we re looki
expensive until closer to 3.5%, frankly. we ve seen 3% in the past few years. our work suggests the sort of positive effect on the financial sector of the 10-year moving higher right now overwhelms the potential negative effect of the valuation compression as rates rise. we have been talking about this rate rotation for years. people are going to go out of bonds into equities. cinnamon is pretty high in the equity market right now. bond returns, we are only three weeks into the year but they are not very good. maybe you start to see as rates move higher and and returned to start to deepen in the bond market, people moving equities and supporting the equity market. at some point, when the bond yields get up to 2.85%, perhaps it will get to 3% in the 10-year, i don t think so but perhaps, the equity market is going to pick up and take notice. i think it will be to the benefit of the bond market. with higher rates, we think the economy will slow a bit, but ultimately the s
a lori warm welcome to the pulse. i m manus cranny. let s take you to the site of where the next debate on greece s future will take place. this is the german parliament where we expect the debate to start. already, there s a little bit of this and within the german ranks a little bit of dissent within the german ranks. a member of merkel s christian democratic union, the systemic importance of greece for the eurozone hasn t been demonstrated. there can only be one vote, and that is no. how many of the german parliament will vote against the outline basis for a great deal? the german lawmakers say their country s 86 billion euro a package today. let s move it along and get to our reporters. we are going to cross to caroline hyde in athens, paul gordon in frankfurt. caroline, let s kick it out to you first. i love the line that i heard this morning. you were given a hotel bill. on that hotel bill, the rate has changed already. caroline: not happening across the board. many
it is a bank holiday. a lot of the data in the u.k. closed. the ftse is not trading today. i still want to give you a quick snapshot of what s happening across europe without the ftse 100. it is down some 0.4%. dollar-euro is the one i m keeping an eye on for the week. maria draghi, the ecb president, refrained from talking down the euro. this is what i m looking at. i m looking at dollar. kuroda,peak to governor a fantastic interview by kathleen hays. crude oil, 47.43. we are seeing a little movement for gasoline prices. it could also impact the oil prices. let s get to the bloomberg first word news. here s nejra cehic. nejra: in the u.s., houston is battling unprecedented rainfall following the biggest storm in the history of texas. the down for has crippled the core of the u.s. energy industry. gasoline has surged to the highest in two years. the president of the cleveland fed urged her colleagues to look past recent inflation data and stick to their gradual pace of liftin
draghi said the ecb will keep as much stimulus as the eu economy needs. we have an exclusive interview minister, s finance pier carlo padoan. in london, european stocks, little changed. one hour into the trading day, up marginally for the fourth consecutive day. best run since september. we have had fresh threats from north korea, sending money into haven assets. the euro falling for a second day post the german election down to 1.1813. falling five basis points in the wake of the german election. brent crude is just a low $60 a barrel, down by .6%. why we saw gains in the last 24 hours, turkey threatened to shut down curtis shipments shutdown kurdish shipments through its territory. there is no a seven dollar spread between the benchmarks. greece willank of start stress tests to determine if they need fresh capital before the greek bailout program. the results of the test could be ready in early may. that comes as maria draghi said yesterday the single supervisory mechanis