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Largest economy in europe for 2019. There are more concerns about the global trade deals than there was yesterday. You can see european stocks pretty much flat. The dollar pretty much a steady. We are getting some data out of germany shortly. We also speak to the dallas fed president , Robert Kaplan at 3 30 p. M. London time. Lets get straight to the bloomberg first word news. Now, u. S. Story for tariffs on china staying put. The Trump Administration is likely to keep them in place until after the president ial election. Any relief is also contingent on compliance. Steven mnuchin and says tariffs wont be removed until the next stage of a trade deal. These tariffs will stay in place until there is a phase two. If the president gets a phase two quickly, he will consider relieving tariffs as part of a phase two. It has nothing to do with the election or anything else. Toda ....
Close to current levels. Joining us now from our amsterdam euro is the Senior Energy economist at abm amro. Unchanged does not sound so that in a world where everybody is concerned that the economy is teetering on a recession. Do you share that view . Say i dont fully agree. We are a little bit more bearish to be quite honest. Especially after last weeks opec meeting, i think that agnal was rather mixed and little bit disappointing, actually. Saudisderstand why the think it should be 50 it should be 65, but i have my doubts whether we see that. Anna good morning to you. Let me ask you about the impact of the price we have at the moment on the ipo taking place tomorrow of saudi aramco. What are your expectations . We have seen expectations paired back. Creation of the worlds most valuable company. Yes indeed. It was a positive. In that respect. It was well oversubscribed. The price at the top of the range. Indeed, on the other end, ....
The russell up nearly a full percent. The broader markets, though, flat s p just lower dow, just higher joining us for the full hour, stephanie link very good afternoon to you thanks for having me. Markets flat overall, but whats happening underneath . Massive rotation today, and it actually started over the last couple of weeks and a lot of that has to do with a little bit better Economic Data that were getting around the world. Even over the weekend, we got the export import numbers out of china. And even though they were down year over year, the trend is still definitely up. And this comes on the heels of better pmi so i think a lot of it is a little bit better Economic Data. And then its this trade talk seems to be making some sort of progress so the cyclicals are actually the ones that are leading. Its financials, tech, industrials. And within tech, its se semiconductors v ....
Now there are worries that chinese demand is trading off area markets in the region are focused on earnings season. My game is always long term. The Financial Stability of the country has been the core ends core essence of the game. And i will continue to make sure. Hat our longterm ally the institution has to perform. Qatari institutions are driven to achieve this. Cliques give us a sense of how exposed you are. You pointed out strong fundamentals in the system which has come under pressure. This is coming out of the United Arab Emirates specifically. If you look at the balancing from qatar. Ing trade for 125 million. Egypt is 1. 1 billion. That is not going to destabilize in any form. Institutions have a plan b. Whether it is a supply chain and the institutions of to realize. We have in kuwait. It has been a bigger opportunity. I wonder if plan b set plan b invol ....
There ing supplies and are worries that chinese demand is trailing off. He markets in the region are focused on earn season. C. E. O. Et to the the economic stability of the National Stability of the country has been the core essence of the game. Support of the local banks thats to make sure and our long term strategies are getting from plan a to plan b. The institution has to perform in substance. All about and s the National Institutions are commitments. Give us a sense of how exposed you are to the gulf crisis. You pointed out some of the strong fundamentals in the comecial system which have under british, but in terms of ou as doha bank and your exposure to business coming out of the gulf and the united specifically . In ts been substantive expert from the and trade is 25 million. Egypt is 1. 1 billion. Destabilizegoing to in any form. Tradeok at the balance in ....