Cfo says growth will come from a new unit. Be theorate banking will greatest growth driver in the franchise as we see it going forward. Anna erdogan derails the rally. The turkish president fires Central Bank Governor, sending the currency 3. 5 lower. Plus, new democracy prevails. The snap election in greece turn around he will the financial crisis. I will deliver on my agenda, an agenda to grow the economy, to create more jobs, but also to make sure the greek people feel safe again. Anna welcome to the market open program this monday morning, less than a halfhour to the start of equity trading. Lets look at the features. The good news is bad news mantra is dominating. The end of the rally in everything, ftse futures, tax lookses, and cac futures like it will be weaker in trade. We got the jobs report. Stocks stateside and europe falling on that, building in lower expectations for fed rate cuts. Thats the big picture story. Lets look at how thats gone down in asia. Thats part of the as
I am nejra cehic in london, great to have you on the show today. This bank is raising its benchmark rate, 25 basis points to 1. 25 . Talking about the lost last hawk standing, nor just norge s saying they will likely hike again in 2019. It is, by the looks of it, a hawkish hike. You can see the reaction in the norwegian krone jumping. We have also had news from the philippines centralbank, keeping its key rate at 4. 5 . Lets take a look at the markets. We are still dealing with the fallout from Jerome Powells press conference. The bond market seems to take what he said well. In europe, were seeing equities on the front foot. Playing catchup because these markets closed. U. S. Equities gained. 3 . It was the defensives and bond proxies that led the game. It was a muted reaction but futures point to future gains. The 10 year yield down to basis points. Of course, we did a drop below it, hitting a 2016 low. Curve steepening yesterday, flattening today. The dollar down for a third day. Wil
We see little bit of a lack of direction when it comes to stop. The stoxx 600 is pretty much flat, moving sideways. There has been quite a lot of movement in the u. S. 10 year yields. This week we have been looking for the 3 mark. We have not gotten there yet. Investors are trying to figure out exactly the Monetary Policy. And you have a little bit of movement in the euro sck. In the meantime, you can see the andmberg dollar index coming up, we talk brexit and trade. Later, david bloom from hsbc gives us his forecast. E talk gun0 p. M. , w control. Now, lets get straight to the bloomberg first word news with nejra cehic. Nejra theresa may held an eight hour brexit session in an attempt to win anonymous backing for her divorce plan. She went to give european rules in many areas, while breaking away partially or fully with others. The European Commission preempted the meeting by saying what it has heard of her plan will not work. Former Trump Campaign chairman Paul Manafort and onetime a
We are seeing a little bit of risk removal. This is what we are seeing in european stocks. They are joining the rebound as we see tensions surrounding the north korean country and peninsula easing. The yen dropping, gold dropping. Gainingor haven assets a touch. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra north koreas leader says the testfiring of a missile over japan yesterday was a meaningful prelude to containing guam. Kim jongun added that he will continue to watch the response of the u. S. Rex tillerson has agreed with his japanese and south Korean Counterparts that the test was an escalation of provocation while the Un Security Council has condemned the launch. President trump has praised the Emergency Response to Tropical Storm harvey as he and the first lady visited texas. At least 15 people have died in the wake of harvey while thousands more have been displaced from their homes. Early estimates put the economic losses at 100 billion. The u. K. Wants to
Francine lacqua. Resurgence for the far right. Belowdex is a little bit estimate for the month of september, 115. 2. Lets check on your data to see whether it has any impact on euro or not. You can see eurodollar, 119. Politics are dominating trading. The sliding a touch euro sliding a touch. Gold falling, crude edging low as well. That is your data check. Lets get to the bloomberg first word news. Nejra donald trump has stepped up his criticism of the nfl sing fans should not go to the games by saying that layers who protest Police Brutality during the National Anthem should be fired. Said heand patriots ceo was deeply disappointed by the president s comments. Meanwhile a trump has ordered you travel restrictions on a countries replacing the current ban on six majority muslim nations. It targets travelers from iran, libya, yemen and somalia. The move opens the president to what could be a new wave of legal challenges. Iran has testfired a new Ballistic Missile in defiance of citingted