Is the ecb doing every thing it can, or will it do more . I think that is the question the market is looking at. We are trading 1. 94 on btps. Vonnie in the u. S. , we erased all of our 2020 decline on the nasdaq, now down slightly lower, but pretty much flat on the year. Microsoft, facebook, all of the things have been doing all of the faangs have been doing particularly well, leading this rally. The s p is up, but there are a lot of crosscurrents, from earnings to the dire economics. We saw the adp report yesterday, followed by jobless claims today, waiting on the payroll report tomorrow. And of course, different reopens across the states. You mentioned currencies making lows today. The dollar index is higher at 100. 29. We were to speaking about crude, up 7 on saudi arabias goodwill on prices. Still not a huge amount for a barrel of wti. Guy every little bit helps. Lets talk about that bank of an story. The new governor Andrew Bailey making it clear today that policymakers could exp
Performing. The s p lower after this data, now close to 2900 down three quarters of a percentage point. Most all company hills ,ompanies are alloy lower the 10 year yield down to 1. 46 percent today, oil and gas index the worst performer in the index. The dollar index had been exceptionally strong, still strong, having an impact on some other indices as well. Yuan, and a lot going on in britain, we are waiting for Boris Johnson. Absolutely. European equities are low as a result of that ism, and the big story over here will be what is happening with the pound continuing to sink a little earlier on fears about a possible general election. It bounced back a little bit, but nevertheless the outlook at the moment looking distinctly to the downside for the pound. We have guilds trading with a 38 basis points, amazing to see all this happening, some suggestion that they could even go negative in the event of a no deal brexit. Its all about the pound. Weve still got the italian situation devel
The stoxx 600 hit a fresh nineyear high as brent crude is back above 90 a barrel. And polands ruling party is falling short to stay in power with the former president claiming victory with a path to a liberal coalition government. Translator this result might still be better, but already today, we can say this is the end of law and justice rule. Good morning. Our top story today is crowds of people in gaza moved south to the rafah Border Crossing in egypt. This comes as egypt agreed to open the border to allow foreign any nationals to move. Hamas and israel have denied a truce is under way. And gaza has continued to take strikes for the last week. More than 4,100 have been killed since the start of the war. Nearly 500,000 residents left for the south as it gears up for the next stage of the war. The u. S. Secretary of state Antony Blinken will return to jerusalem today. His push for diplomacy came as hezbollah launched attacks on israel. Irans foreign minister called on israel to stop
The european equities failing to. Arry on that rally you are seeing france down 6 10 of a percent and the dax in germany down 6 10 of a percent. The ftse 100 down 7 10 of a percent. You are seeing some broadbased losses, but also if you look across the Industry Groups, most Industry Groups losing on the stoxx 600. The biggest losses coming from carmakers and household good companies. You are seeing Dollar Strength with a little bit of a bounce back from that threeyear low. Cable on the back foot at 1. 3992. Euro strength against the pound is what we are seeing, but a bit of Euro Weakness against the dollar. Look at what is happening in fixed income and you can see yields moving higher in the core and the periphery. The 10year bund yield up. Yields moving higher. Also, oil moving higher. Wti above 62 a barrel. Some of that might have been down to the dollar weakness. Lets check in the bloomberg first word news. Jessica summers has more in new york. Jessica President Trump is open to imp
This is an easing cycle after record high borrowing, it attracted 20 billion of local currency debt. Tracy alloway and i got more on the chief economist. I was expecting a bigger cut, i know that seems like a lot in the context of emerging markets. Remember, rates were raised 700 basis points from the time of the devaluation up until last week. This is the first step of a very long journey to go. To be perfectly honest, i dont look too deeply into the Monetary Policy statements out of the central bank of egypt these days. When it comes to insight that it can provide on the future course of policy, i found them somewhat lacking. Tracy you are phrasing every diplomatically. I am trying to be diplomatic. From my perspective, it is a big cut, it is encouraging, it shows there is confidence. Remember, 100 points is only half of the surprise hike we saw in july of 2017 when they raise they raised rates 200 points when everyone thought the hike tightening cycle was over. We have a long way to