Alleged phone call an apparent trade detente that was apparent flipflops leave beijing unsure of u. S. Policy. Is the first of chinas big touted by the u. S. Administration, we saw the yuan banks to report earnings. Six in terms of the senate how the trade war is affecting devaluation was the largest performance. Shery lets get you started since the beginning of august, when we saw the risk of event with a quick check up on how markets closed. Where the yuan bridged the seven level. Theintent is there from it was a wild ride, with u. S. Chinese site. Dogs paring back gains. The s p 500 finished down. 3 . If we see these levees continue to be raised on september 1 and it is a very financials leading the declines with the 10 year yield falling politically important date for below 1. 5 . He dow gave up 120 points the chinese. It is the 70th anniversary of the peoples republic of china. That is not something the chinese are willing to let slide it was a bit of a mixed picture with volatili
We have a lot of breaking news. We need to literature treasuries and the markets. Im interested in what japanese treasuries are doing today. Oil stockpiles rose in the First Quarter despite the opec cuts. Lets see of its having an impact on the price of crude. You can see its unchanged at 52. 96. We have that report that is extremely important. I am trying to filter through what we know and what we dont know. Despiteles are rising the opec cut. Thats the one significant thing. The Oil Market Needs time to rebalance as january stockpiles rose. There is little affect on the market so far. It. Will be looking at in the broader market, the dollar is slumping a little bit. Talking, he was said the dollar was getting too strong and shares in europe. Lets get straight to the bloomberg first word news. Rex tillerson and his russian counterpart vented their disagreement after hours of talks. They did signal that neither side is given up on improving relations soured by russian hacking and syria
There is quite a lot going on on the bond markets. Mike you are wearing a falllike sweater. Maybe we are past the end of summer and there is a seasonal adjustment problem. Sudden, there is a lot of news affecting the markets. Does it last, does it change direction . As i knock into my microphone there. Francine it still feels quite binary. Lets get to the bloomberg first word news. Here is sebastian. North korea says it has the ability to make Nuclear Weapons that will fit onto rockets. Regime conducted its fifth nuclear test. The president of south korea called it an act of maniacal recklessness. In france, police have arrested three women who were plotting imminent terrorist attacks. Earlier this week, a car containing gas canisters was founded Notre Dame Cathedral in paris. The u. S. Secretary of state john again. S back in russia earlier this week, the United States complains that russia has backtracked on agreements to end the syrian civil war. May is allowing the creation of new
And im dominic chu filling in for wilfred frost today. Our top story is of course oil. Venezuelas oil minister is in tehran today, meeting with officials from iran and iraq. The latest report suggests iran will not join in a deal between saudi arabia, russia, and other producers to freeze output at january levels. Irans opec envoy calling the freeze illogical, arguing the current drop in prices was caused by other producers lifting output while iran was under sanctions. Crude prices have been swinging on every report and comment coming out of these particular talks. I think theres actually a genius move on russia and saudi arabias part. A tactical move. All you have to do is just chatter about it. Have a meeting, talk, and they get lift to the oil price. Also, this puts the blame on iran. It makes it look like russia and saudi arabia are trying to be very productive and helpful on the market. I think its a really genius move on their part. A lot of talking going on. The other potential
Today. One of the emerging markets linked to oil is in. Norway cuts their key rate. You saw the Swiss National bank earlier. This is not about the bank of japan and what yellen did or did not do. Help me francine, with daylight savings time. I am lost. Caroline just where moore concealer and get through it. I guess in your time, it is 7 00 a. M. I guess mark carney will be speaking at 8 00 a. M. Francine lets get straight to the bloomberg first world news. Caroline turkey will be present for concessions after the European Union needs for the refugee crisis. Turkey wants money and a cooker pass to joining the eu. They are going to meet today in brussels to try and work out a deal. French authorities have broken up a possible terror plot in paris. Four people were arrested and at least one posed an imminent threat. A Counter Terror rate in brussels left at least one person that. Choice to fills the Supreme Court vacancy goes to capitol hill today. Merrick garland will speak with democrat