Highs on the news with the money flowing to value and cyclicals. Havens are clawing back some ground today. Retaliation. The European Union will impose tariffs on 4 billion of u. S. Goods starting today. The eus trade achieve calls on both sides to drop countermeasures. A very good morning. If you think about it, we had that tantalizing, parabolic move, i would say, in this market yesterday evening. I was here late. Isar rationing around the markets i saw rationing around the markets. This morning, we face i suppose reality. Feels like a massive night out and this morning was a bit of the hangover reaction. Michael purves says it perfectly, talking about the vulnerabilities of the vaccine narrative. If the republicans gain control of the senate, this is very much so for them less onerous to want to do a fist lee onus less onus for them to want to do a big fiscal package. Lets take a look at what we did see yesterday, that euphoria manus is talking about. I want to show you the close ye
You can see individual markets and you can see how we are seeing most of these north asian performers here. Hong kong is up about. 6 . We just heard from carrie lam who said the social distancing measures may be on for a while in the city. Jakarta coming on pretty strong. We are counting down to that rba Rate Decision and the budget announcement. Super tuesday in australia. We take a look at the yield curve as well. That will be the story here. A massive steepening overnight. Take a look at the two and the 10. As well as the 30 year. That yield reached the highest since june as we continue to price in this blue sweep. Powell the fed chair jay speaking later on. We will watch the aussie 10 year. 89 business points for the aussie tenure. The dollar also selling off on expectations of more fiscal stimulus. You do have the aussie as well. That has been gaining ahead of that dual announcement coming through. Heading closer to 6. 7. Haslinda we want to show off u. S. Live pictures. Mike pomp
And the new imf managing director. Warm welcome to bloomberg daybreak europe. Lets get you straight to the markets. 8 companies have been put on a blacklist. Everybody is going, who cares . Deal,obability of a trade make up whatever superlative you wish to choose. The twoyear Government Bond yield i find fascinating, up by six basis points. It was the biggest move in three weeks. Why . If you take Esther Georges comments and Eric Rosengrens mmments, it does not atter what Neel Kashkari thinks about keeping your foot to the floor. He is not voting. Lets roll it over, because betting away risk is personified in dollaryen. Dollaryen, weve got a lovely note from j. P. Morgan. Yes, yen is lighter on its feet this morning. You see the dollar up, yen down. Struggling to get through that 106 level. If you think about the currencies that are essentially ground zero for trade, it is trade wars, i should say, it is aussie on the trade and new Zealands Central Bank has been most forward acting. Le
225, things are moving. Bitets should have seen a of a better move to the downside given what futures contract suggestion. Suggesting. Aussie dollar, we are waiting for the next salvo in this trade war at the moment. I say currencies because there have been a few signs the Coalition Getting together in the u k to fight a hard. That has been brexit. 105. 77, up a fraction at thesehe dollar but levels, we have exporters feeling it. That is why a cap has been put on the topix. Stronger a onshore yuan, pretty flat. 7. 16 rmb for the dollar. Lets get the first word News Headlines with su keenan. Su we start with hong kongs bountyleader backing a program for identifying protesters who have perpetrated vandalism and defaced chinese flags and emblems. He posted a link on his Facebook Page to a website that promises a crowd funded reward and anonymity to potential tipsters. Is named after the moment on august 3 when a demonstrator through the chinese flag into hong kong harbor. On the corporate
Corporate bellwether. Manus warm welcome to zurich. The numbers hit the tape. Of linesa couple coming through. Net profits recovered considerably after a challenging 2018. Net profit attributable to shareholders, 343 million earnings per share. Adjusted net profit, 398 million, an increase of 18 p. M. When it comes to the numbers that matter, it is net new money, 6. 2 billion in net new money. Course thes of Succession Plan and julius baer. He will join me very soon in the next hour. 1. 7 years ago. To 400t this building up billion swiss francs. He joins me after 7 00 a. M. Some people say he spent two years, nearly two years, tidying it up. What will rickenbacker deliver . Million in net profits. The adjusted net profit, 390. 5. It is all about changing the nejra cehic julius baer. How changing the story act julius baer. T changing the story and julius baer. Nejra secondquarter revenue coming in at 4. 7 billion euros. Estimate with 4. 5 9 billion euros. 4. 59 billion euros. Margin ine