Giant announces an updated product line. Welcome to bloomberg daybreak europe. Good to be back ahead of the most important ecb meeting of the year. Trade ineing a risk on asia, green on the screen for the msci asianpacific index. We have a tweet from the global times talking about china putting measures to mitigate the trade war giving lift to risk assets. We see Sweet Nothings on the s p on a headline level. What has been going on beneath the surface for sector and factor rotation moving from more growth to value. Looking flatres, so another day of perhaps not much to do on the headline level. The big moves have been in bond yields. Jumps into year and 10year. Hitting its highest since august 5, down a touch today but sitting on 1. 66 handle. Great to see you and great to be back. Manus yes, indeed. Yields just off the onemonth high. We will talk about what james gorman had to say. To show the oil market because what has gone on is john out. N, this was the biggest pricing dislocation
As protesters moved to shut down hong kong. We are live on the ground. A public spending boost from Boris Johnson raises expectations he is playing for an early general election. Parliamentary majority hangs by a thread. Manus a warm welcome to the show. And raise your game the bet higher. That is the message from the chinese. The dam has been breached. The dogs have been unleashed by the pboc. They are letting the hounds run, even though they verbally intervened. Nejra i love your use of language. What a dramatic day of the markets. The question is where the next resistance level is for the yuan and whether the pboc is going to defend a certain level or whether it is just protecting against wild swings in volatility. Whether we now see the start of a currency war and weather will be more challenging for banks which have less room to ease, which means japan. Manus there are five emergingmarket Central Banks, five more to go this week. I think when it comes to pboc, you are seeing the s
, Lisa Abramowicz and annmarie hordern. Live from new york city, good morning. For audience worldwide this is bloomberg surveillance alongside Lisa Abramowicz. Your equity market on the s p 500 down yesterday just a touch down this morning by one third of 1 . Cpi upside surprise, pce coming up a little bit later. A lot of people are saying thats the big data point but how do you trade the market that seems to be driven by its own sentiment. That seems to be with the lack of conviction i read all the notes overnight i have to say the headline of the day frankly is momo fomo or own no. You can translate that later in the program. Ultimately over the last few weeks the last few months this market is repriced aggressively. And the fed hasnt had to adjust at all. President williams sounds like a president williams we heard about a month ago. Three times seems about right for fed rate cuts this year. They havent changed their message. Market kicking and screaming. But heres the real question
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An historic monday for the bond market. Joining us today is Jonathan Ferro working from the Early Morning hours. Manus cranny will be with us. Manus good morning. You see it on television and hear it on radio, 5. 01 of the 10 year yield. His street this morning. As history made this morning. The first lisa first time you seen it lisa the first time you have seen treasuries go above 5 . On we have a lot of good thoughts tom we have a lot of good thoughts on that. A sharp note in the Financial Times. Hobbit l arian looking Mohamed Elerian looking at it saying it is global. Manus there is the overall momentum. With our saying why are Asset Managers and insurers not stepping in your they simply dont have the complexity. They are not forced into it and so the appetite is not there. You have some of the hedges. Tom should we ask him banking questions so he feels comfortable . Lets take your experience with ubs. How scared would you suggest the big banks are with the price down, yield up unra