Survived a year of negative rates with profits intact. A year of survived negative rates with profits intact. Yousef i am yousef gamal eldin. Ahn. i am shery welcome to Bloomberg Markets middle east. The wall street rally, banks leading gains after hence of easing regulations in the u. S. The dollar continuing to slip, oil getting a boost after it rose for a third week already. Absolutely. The geopolitical risk factor is creeping back into croup markets. Since been 23 years talks between iran and the United States. Basis, thisterm goes back to the beginning of , and you can brent see the scale and extent of volatility at the beginning of 2016, and after opec and nonopec reached that agreement, volatility moderating, and that opec, toa key goal of bring predictability back into these markets. Watch out what is happening with u. S. Crude rigs, the latest baker hughes numbers showing that. Shery im taking a look at gold. We are normally seeing the dollar lead the way for the metal, but no
Some breaking news hitting the bloomberg right now. Is going Michael Flynn to be resigning as the National Security advisor. Again, we had already known that Michael Flynns future was in question after a warning from is justice arm, and now he said to resign as the trump National Security adviser, so once again the Trump Administration dead center, and that will play into the trade and the next hour and the days to come. Shery definitely. Cautious ahead of Janet Yellens testimony in congress this evening, so all of that playing into markets right now. , ak at my function, gmm mixed picture, the nikkei down. 7 . We are seeing the dollar index paring back those gains that we saw in the previous session, so other currencies in asia gaining up. Nd, south korean won in the commodity sphere, copper surging again, supply disruptions, up. 8 , and bonds in asia following treasuries lower after yields rose for three consecutive sessions. All of this of course going to filter in the markets as we
8 00 in thes emirates, 4 00 in london. I am uses community yousef gamal eldin into by. We had five Straight Days of declines. If you look at the reflation in the asian session, not a lot of conviction at the moment, is there . Shery it seems to be fading right now. Treasuries just climbing, reversing declines. Look at my gma function. We are seeing the markets in the asiapacific looking pretty maxed. A halfkei fell just percent. We have more strength for the japanese yen, up 0. 2 . When it comes to commodities, we saw the Commodity Index rebound over night, tracking gains in metals. Metals in asia gaining momentum. The big story when it comes to commodities, oil is swinging between gains and losses. Is a lot about oil. Let me show you what happened overnight. We did get debate out of u. S. Crude inventory. I put the wti reference price. That is your line in blue. The important one to watch out is the white line in white. You can see this is a build of 9. 5 Million Barrels last week. An
Bid. Shery expect profittaking. It is 8 00 a. M. Bright and early in to buy. I am yousef gamal eldin. Shery it is midday in hong kong. I am shery ahn. Taking a look at the asian markets. It is a mixed picture across the board, the hang seng gaining. 3 . Lot to do with just optimism across the board, but function,u look at my markets a bit more subdued for a monday, excellent data out of japan, but also president s day holiday in the u. S. , the dollar index study, losing a quarter while steel is leading the gains when it comes to commodities. Gains seeing doubledigit for steel rebar futures contracts and china. Look at the strain to year yield down to basis points. The 10 year bond yield finally declining after six Straight Days of advances among but i get ahead of myself because so much uncertainty out there. I cant say it is an optimistic picture just yet. Yousef we look at the conventional metrics and a lot of these Asset Classes, for example, u. S. Treasury yields, but let me show
The latest from beijing. In the emirates. I am Tracy Alloway in dubai. I in shery ahn in hong kong where it has just gone midday. The boards here have been a hike from the fed. It is affecting markets across the board here in asia. We are seeing equity markets rallying to to the highest level since 2015. The japanese market saw that downward market. The south korean won is losing a asian currency. Optimism the funds will keep flowing into the region after that hike from the fed. Take a look at the offshore renminbis. It is shrink fitting 3 10 of 1 . When it comes to the onshore, they strengthen it by. 37 , the most since january 18. All about sovereign bonds data this morning. Australias Unemployment Rate on gaining rounds as well. Tracy you mentioned the end gaining. The u. S. Dollar doing something on in reaction to the fed decision, it is weakening. It is still weaker today. That is feeding into commodities. Take a look at how oil and gold is reacting. Gold is the big mover. It was