i am francine lacqua. we will try to figure out politics, geopolitics, and all of the participants are waiting to see what president trump will say. that starts in 30 minutes. i wonder if he will talk tariffs and europe. this is where your markets are. a lot of focus because of the thely virus in china, european stocks a little on the downside. let s get the first word news. we begin with the global economy, it will grow but slower than expected according to the international monetary fund. 0.1% of itsdown projection in october. it is optimistic and says risks are less skewed to the downside. president trump and president macron may have reached a truce on digital. the readout from washington was more muted. preventement may escalation into another trade war. hashina a sars virus entered a new state of severity. the world health organization confirms person-to-person transmission. four people have died. 17 years ago the sars outbreak killed 800 people. mitch mcconnell is pl
Over 100 point for the dow about 120 points the s p is down 8. The nasdaq down 29, 30 points. Just over a half percent for the dow. Less than half a percent for the s p and nasdaq this comes off 0. 6 declines yesterday. The nasdaq has now declined three days out of four while yesterday he was saying all 11 sectors of the s p were liar last week, yesterday all 11 sectors of the s p were lower. But lets put this slight decline yesterday and this morning into perspective were still up 7 to 8 month to date for january one of the best starts to a year since 1970 a bit of a pullback yesterday is in perspective we are continuing that selling momentum one of the factors yesterday people pointed to was rising yields the tenyear hitting a threeyear high. We have come back off that today. Maybe that is a reason markets can find impetus during the course of the session. 2. 69 on the tenyear note. Asian equities were selling off. Did have a negative session, and looks relatively scary when you look
On the bloomberg. The reason you do not see a dot beyond on the righthand side, he is saying that is outside of a poor castable four castable forecastable period. This is fascinating. When the summary of Economic Projections came out and we look at that straight up right at the bottom, the answer is there now. Jim bullard. David when you read the statement hes just issued, hes saying a lot of things people the fed is about projecting out into the future well beyond what it can no. Know. S what it can some people think their models are run. Alix how do you forecast a fed that is data dependent . After the dots were released, there was chatter in the market with alie evans statement of a shift in how you view the economy and where you actually think rates should be. Of the f1 all members see are in agreement about the approach to this question. Agreement. In the question is whether other people come to jim bullards side. David we will have a bloomberg exclusive with microsoft cofounder b
Supply. We speak to the banks ceo, Andrew Kostin at 8 20 a. M. That interview is coming up. Greece is back on the agenda. Im really surprised. Can greece move on without debt anief and since we are at important junction with immigration how does this impact the debt relief issue. Hans that brings us back to berlin. Decide theymerkel can give a little bit of Debt Forgiveness . And then work on something regarding greek refugees. It seems like a much bigger story. When of the interesting aspects of this coverage is that they are so far apart on reforms pension records, tax reforms. They really have a long way to go. Guy the fact that the imf and the leaked document it firmly believes that debt relief is critical. That is right out of the imf playbook. Change at a bunch of factors and one of them is normally eight that really for restructuring. That has not happened this time for greece. The imf is going back to what it does best. Intransigence from europe. We are half an hour away, less
Door at barclays. Anna its another american banker. Guy. And halfway between anthony bob. He knows about Investment Banking but hes also good with regulators. Barclays has been on a roller coaster ride not only with c. E. O. s but let me show you the chart. That was the picture they have man well be talking about a lot. The diamond era which was short. The stock actually was up in jenkins tenure but has been falling. Era starting. Anna and now j. P. Morgan, most reclently recently in the hedge fund sector. Thats the banking story. Well be focused on russia today. Russia over there at the calling forum. Guy were going to be talking to a lot of figures, no pressure there. The other stories you need to be aware of today, keeping an eye on the s. A. P. Miller story, we have a report out suggesting the latest offer has been rejected but were getting closer to put up or shut up deadline tomorrow so keep an eye on that story as well. I cant ignore the wolf of walsburg as well. Anna aparaphern