Isolating after coming into contact with lawmakers are tested positive for coronavirus. Good morning and welcome to bloomberg surveillance. This is a picture of the markets. A lot of the focus is on a number of infected. A lot of the focus is on the policymakers can do Going Forward. Onot of the focus will be some of the things we saw for example following asian shares. Buoyed by positive sentiment on trade. In thanar is falling the other thing im looking at is oil pushing higher. Treasuries edging up. The focus is on the sustainability of the economic recovery. Hoping for are also news on more vaccines coming up that could be positive after what we heard from pfizer. Now lets get straight to bloomberg first word news in london. Trump is still refusing to concede the election. The president tweeted the joe biden one because the election was rigged to. A claim flagged by twitter. Commentswalked back to saying i can see nothing. We have a long way to go. The u. K. Prime minister Boris Jo
Strengthening as asiapacific nations signed the Worlds Largest regional freetrade deal. President trump plains fresh hardline moves against china. M a at the double. Pnc financial agrees to buy a usa unit for 11. 6 billion and creating a european giant. Very good morning to you. Market,to bloomberg the european open go lets get the european open. Revenues coming in at 21. 4 3 billion euros, just a touch ahead in line with the estimate, reaffirming their cash flow guidance for the full year 2021, something perhaps to have that kind of visibility at this point. They say they are on track to ipo. This has been a talking point, what kind of money were they going to raise . There has been talk of perhaps a 4 billion euro ipo coming next year. , it hasthe same unit been valued by some at 20 billion euros. That would make it the largest listing in europe in more than three years. We will be keeping an eye on that. Vodafone said they are on track with that plan. Marketst to the broader and loo
Fed president Robert Kaplan this hour. President trump orders chinese to shutdeo app tiktok down in the u. S. Next month unless there is a deal with microsoft or another leading american company. Breaking news out of south korea. The cpi numbers for the month of july year on year, a growth of 0. 3 . This is of course after inflation remains flat for the previous month year on year. We have seen somewhat muted demand. Perhaps weighing on the month on month numbers. We are seeing inflation at zero growth. This really missing expectations that prices would rise 0. 1 if also inflation is decelerating from the previous month of june. Core cpi take out oil prices, and you get a rise of 0. 7 , in line with estimates, and slight acceleration from the previous month. We have seen brent crude prices recover somewhat from aprils slump but still down 38 year on year also. The are also expecting tokyo Inflation Numbers within the hour so take a look at what japanese futures are doing at the moment.
Japans ruling party says the coronavirus will hit harder than the financial crisis. The global stocks rallied after the u. S. Opened the fiscal taps to the tune of a billion dollars. Thats on rate cuts for major Central Banks surge. St. Louis fed president tells bloomberg, dont assume that will be another cut in two weeks. Rate to thee policy right place for now. Given the information that we have now. We took out some insurance against the possibility that this will cause a growth slowdown in the u. S. Matt division in vienna. Agreement over output cuts proves elusive for opec plus delegates as they look to counter the impact of the coronavirus. We are live on the ground for a crucial meeting there. Lets take a look at futures, getting across europe right now. More than 0. 5 . Up 0. 75 . S are futures. In u. S. We finished up more than 1 yesterday across european forces. There was a major surge in u. S. Stocks as a result. You are seeing futures down for the west stocks. Risk on for e
Inflation the worlds biggest economy last month dampened expectations. That decision comes a day before Second Quarter gdp figures are released and many economists are expecting the us economy likely remained in expansion during the april to june period. Rounding off the week will be the bank ofjapan. Last month they saw core consumer prices, excluding food, rising higher than the banks Inflation Target so that put extra pressure on the central bank to tweet its altar easy monetary policy. I earlier spoke to naim aslam and he told me how he expected the fed to go. I think the Federal Reserve isnt under immense pressure, as they were before the inflation data, as you rightly pointed that out. Because inflation is sitting at 3 and im speaking about the headline inflation, which is not that much farther from the Federal Reserve s target of 2 and especially if you compare what this number was. It wasnt too long ago when we saw this number in double digits and falling all the way to 3 . Whe