Anna very warm welcome everybody to our new headquarters in london. The confirmation of Jerome Powell there this week and u. S. Tax. On the risk radar, weve looked at the political story in the u. K. He pound down what can be done to enable progress to move on to the tray conversation . On the oil price, we are down by. 41 , but not high not far from the highs. Abouting coming to talk output cuts. And next the tea, what is xp t, its that coin. Rally of 17 . Of 40 in the past two weeks. Up 800 year to date. Is the cryptocurrencies going mainstream . Is it covers investors or fear of missing out . Manus breaking news. There is a new ceo at julian bear. Julius bar julius baer. Holder is the new ceo. The board of directors has appointed him with immediate effect. They look back at a very successful year. Strong operating momentum. He has been the chief risk officer. He was named deputy ceo in 2017. He has been a member of the executive since 1998. Not a shock at all. Lets talk about anothe
Manus welcome to the show. Hope you have had a good rest over these past couple of days. Some markets were open. This is the complexion of Global Markets as london against to come back from its turkey feast and its turkey slumber. We have the risk radar for you. This is the anxiety in the market. The man versus yield. This is u. S. Gg 3m. The debt ceiling anxiety is personified in the demand and cost of threemonth bills. 1. 445 . Thats the highest stop out rate since december 2008. But the bid to cover ratio has been the lowest since 2009. Do you want to because short if the wrangling continues . Some of the middle east markets open on christmas day. You have ulcer in the from a long weekend. Equity markets from a threeweek high. Equities, a little bit of gain. Australia flat after a fourday weekend. Oil is just coming back. This belies a much bigger move upwards in the price of oil. We had another outage. This time youre looking at oil at the highest level since mid 2015. Libya had a
Lineup today. T first, live pictures from moscow as president putin makes his annual president ial address. We will discuss whether russia, brexit, and a u. S. President could make 2017 the year of total reset for Foreign Policy. We have a little bit of manufacturing pmi. The italian data is significant because this gives us a glimpse in the state of the Italian Economy just three days before they vote. These are the figures crossing our bloomberg terminal. We are seeing the Unemployment Rate staying put for october at 11. 6 . Line withty much in what were seeing in spain. Three days until renzis make or break referendum. Votell discuss what a no could mean. Lets get to the bloomberg first word news. Heres Sebastian Salek. Sebastian glencore will reinstate its dividend policy next year and plans to pay out the minimum annually. The worlds biggest commodities trader has seen its shares trickle this year. The chairman of bloomberg lp and the parent of Bloomberg News is a senior independe
First of all, i will show you what has been going on with oil. This is the story. What does this signal about the Global Economy . We down stopped the level, but are very close to it. The sense of the market is, this is a done deal. This was a meeting that took place before the last payroll data. It seems to secure the idea in the market that we are pretty much there for with the december hike. Not much of a move in the qs in the u. S. We will talk about the spread in germany. We will speak to jim mccarthy has the Company Releases its latest earnings. Will talk to the cfo. What is happening with china. What is going on with the german economy. S there a fallout story minutes from the october meeting. That showed a rate hike would be considered at the next meeting. We break down the unusually direct signal from washington. Minutes confirm the market that fed officials will be have to talked out of a december move, rather than talked into it. The minutes show they wanted to send a signal