Im Francine Lacqua in london. These are your markets. 0. 4 . An markets down a lot of the market put a position that the economy and a lot of the earnings would go through the coronavirus. Not so after the apple news yesterday. There is more concern about the deadly coronavirus trade looking at treasuries, they are rising. Americans reopening after a holiday. Yesterday was president s day. Jumping as much as 24 after unsuccessful bid for the small arrival. This may be the kickoff of banking consolidation in italy and then further into europe. Coming up on bloomberg surveillance, our exclusive conversation with the hsbc Financial Officer on the banks job cuts. First word news. Viviana hsbc is set to slash 80 of its workforce. The lender taking more than 7 billion of charges and suspending buybacks as part of a restructuring plan. Plans to exit some businesses and cut costs. Hsbc still hunting for a permanent chief executive. We also spoke to the lender cfo about the coronavirus outbreak
That matters w made for mines. Two cities and passed between them the river danube and across the river since eight hundred forty nine the bridge connecting them. The chain bridge was the First Permanent link between. Then and eight hundred seventy two they united to become puta past the new capital of hungary it is possible that without the bridge union of the two cities might never have been accomplished. To this day it is rightly regarded as a symbol of peace and good will. I. Was much of europe past the bridge was destroyed in the Second World War the germans thrown back by overwhelming something that forces holed up in be reconciled and went on fighting. It was hopeless and it took a destructive toll. By february nine hundred forty five the germans have been defeated but the city and the castle lay in ruins. The history of putin past has been one of war destruction and foreign rule and of liberation and reconstruction. I two cities could scarcely be more different and beyond and p
That is what ive been hearing. Lets look at the risk off tone in europe that is being hit the hardest. We are now at eight straight down days and have not seen that kind of streak since 2014, the dax hit particularly hard. A bit of a safe haven bid as far as bund yields. That does not feel like a risk off move in bunds. The dollaryen down 6 10 of 1 . The bloomberg Commodity Index down 3 10 of 1 . Not just oil and copper, the base metals across the board hurt. David now we turn to emma chandra. Emma Senate Republican leaders may have made tax reform a little more complicated. They decided to add repeal of the obamacare individual mandate to their tax package to help them meet the fiscal target but will change the vote calculations in the senate and house. Twice the senate tried and failed this year. The russians have agreed to restructure more than in venezuelan debt. The Credit Rating firm declared venezuela and its state oil company to be in default after missing payments. In zimbabwe
At lunch, 55 degrees later on. So it is seasonal and i think the sunshine will be much more prevalent this afternoon. Cloud cover is leftover and lingering, 40s inland. Thats where most of you will be. If you are close to lake we do have some low 50s to report and not a whole lot going on other than just this leftover cloud cover here as we wake up on our friday. As we look on future view, notice it brings in shower chances. This is really overexaggerated. I have like a 10 passing sprinkle. Most of you are not going see that and most of the moisture associate window the cloud cover itself. Geting into the afternoon, we really start the to see more and more sunshine and it will apply into the evening as skies completely clear. We will look ahead to this first weekend of november, and talk warmer temperature, how warm is coming up. We did it. It is friday. We made it to friday. Congratulate, we will help you make it through this commute. Viewing area and were all green. Same picture to n
Bloomberg exclusive, three hours to set you up, but first, a look at the markets. Yields moving higher from here. Mark lets get you up to speed. Futures on the front foot at the moment, firmer on the s p 500 after yesterdays alltime high. Look at the moves in japan. The nikkei up by two point five Percentage Points and it is a twoday rally up over six fourth Percentage Points. More stimulus potentially from the japanese government. The nikkei rallied and the yen declined. Weaker japanese yen and the dollar yen trading with a 103 handle an approaching one of four. Cable rates gaining as well. The pound doing very well. It is a firmer story for risk assets, but this is what i find the most interesting. We talked about highly correlated markets, equity markets at record highs and bond yields at record lows. Today is different. Equities on the front, bond on the back, little defensive. Yields going much higher. 30 year yields up seven basis points. Yesterday, there was an auction of threey