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despite the $62 billion bid being rejected. good morning to you. let s get straight to what the markets have been doing overnight. it seems like there is good news once again for equity markets. have a chart that shows the moose we seen in global equities. that s what you will the here in blue. this is not just the april numbers for us home sales. we have asian stocks rebounding nearhe dollar holding two-month highs even if it is retreating just a little bit this morning. manus: it s going to be a very interesting day. thing?te hike such a bad let s check into what we ve got in the markets. their but wege have risen over the past two weeks, markets factoring in the fed hike potentially in june, back in the cards. you have negative yields elsewhere in the world. strong data in the u.s.. new home sales coming in the strongest in eight years. never far from a barrel of oil in this region. on the way to $50. inventories dropping by more than 5 million barrels and the norw ....
bayer s choice. bed.nto rejects the rejects the bid. where less than a half hour wait from the european equity market we are less than a half-hour away from the european equity market open. your stocks up. we are pulled up another percent this morning. equities overnight in asia doing very well. i was looking at the hang seng index in hong kong. it was up by 2.5 standard deviations above the mean. doing incredibly well. the dollar showing a little bit of weakness. the oil showing gain. that should give some more boost to today s market. let s get to first word news amin.aslinda haslinda: italy s biggest bank. that is after assets to improve capital lost the support of investors. he will depart once a successor has been named. he and the board agrees there was a need for a management change. bayer says it is still optimistic that its pursuit of monsanto will succeed, despite the $62 billion bid being rejected. offer syrizaare undervalues the company. monsanto s sha ....
i m francine lacqua. getting some figures. of pay. the month the german business confidence at 107.7. inwill speak to the man charge of this report later on. that is better than economists expected. ifo confidence is at 107.7. the median estimate was 106.8. the current conditions also a little bit better than expected. to show apecting ifo little bit of weakness, maybe a little uncertainty regarding growth, regarding deflation. those figures coming in better than expected. do notllar, these things tend to have that much of an impact but when we look at uncertain times and what mario draghi may or may not do, it may. 111.44. stay with the pulse. in half an hour we speak to the president of the ifo institute. let s check the markets. this is a picture for worldwide markets. global stocks rallying with some of these emerging-market currencies. i want to show you yuan and the 10-year greek bond. we have an agreement, not on debt relief, but the european governments will d ....
day. this is about central banks. we are learning about china and we re talking about the pound. tom: it is an interesting economic day. great series of smart guests to give us depth. i would notice are the headlines just out of microsoft. you have the hewlett-packard headlines yesterday of the split up of the split up if you will on hp q and now you have microsoft out with a 1% severance or layoff or job cuts. i like job cuts on the bloomberg banner. 1850 out the door. shows the door of the real economy around the economic data. let me guess, we will also talk about brexit? francine: surprise. [laughter] francine: it is a month away. we may talk about it for the next three years. the imf has backed off and greece will get its next round of financial aid. it will allow the relief of more than $11 billion and they will take steps to ease the burden of the countries $58 billion in debt. they stood down after originally insisting that the program did not offer a path to fi ....
have been performing quite well this year. we saw bond yields rise in materials on the rise. weakness in the more interest rate sensitive groups today like utilities and telecoms. let s look at some of the other asset classes. i want to look at oil prices because the american petroleum institute reported last night a drawdown of more than 500 5 billion barrels, 5 million barrels. we get that data about half an hour from now. this survey is we will only see a drawdown of 1.7 million barrels. we will see what effect it has an oil prices. oil pushing closer to $50 a barrel. gold trading at a seven-week low. also, the u.s. dollar. we are not seeing much movement on that front today, at least if you look at the index. we have not been seeing a very much going on today. if you look at what is going on with bond yields, we continue to see them higher. selling in the treasury market pushing yields up. that is not surprising given this renewed view that the fed is going to b ....