Professionals, carers, Public Health officials, and volunteers across the country, and the exceptional efforts of the sco abroad. U. K. Citizens the bank of englands role is to help households manage through an economic shock that could prove large and sharp, but temporary. That is why the bank is announcing a comprehensive timely package of measures to help u. K. Households and measures bridge across the economic disruption caused by covid19. These measures will keep firms in business and people in jobs, and they will prevent a temporary disruption from causing longer lasting economic harm. Maximizing our response requires ordination across all of the banks coordinating committees. That is why all policy committees are simultaneously theng today, maximizing effectiveness of our response requires working in concert with treasury. Ys that is why we are acting on budget day, when the chancellor will announce a series of government initiatives to support u. K. Households and businesses. A
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Federal Reserve swept into action yesterday, cutting it
Ahead of his News Conference there later today. And samsung shares rise as the Company Beats on Quarterly Earnings. Memory chip prices finally begin to climb out of a persistent downturn. It is 8 00 a. M. Across the emirates, 12 00 midday in hong kong. This is bloomberg daybreak middle east. Im tracy alloway. The middle east never has a shortage of news that this morning with iran announcing a seriesf missile strikes on u. S. Bases in iraq, the First Response to the killing of general soleimani, as i mentioned. Reporters are on standby to walk us through the latest developments. What are we seeing in terms of the reaction from the u. S. . So far, u. S. Reaction has been muted. The u. S. Did not release numbers for casualties, and basically, they are still assessing. President trump says all is well. Basically saying so far all is good. Meantime, meanwhile, we are looking at a response from the iranians where the foreign minister kind of hinted there might be actually a deescalation bec
Climbed down. David both hong kong and Mainland China have come out in opposition of that senate bill which passed this morning, risk off as you can see here, 8 10 of 1 on the nikkei 225. Talking 25,000 for this one as well. China kospi down 1 , hind sang giving up about 230 points at the a sx 200 leading across the region, 1. 3 . Rishaad banks are under a lot of pressure. Also looking up what is going on elsewhere, other Asset Classes in play at the moment. The 10 year yield is unchanged in china, even as we got that caught. The 10 year yield is four basis points down in the u. S. It was only about a week ago we were talking and questioning whether we would get 2 . One thing adding a bit of negativity is the snp active afters, 3 10 of 1 lower a choppy session in the u. S. , retailers really dragging things down, the snp lower all of nasdaq did hit a record high. Cnh is to tenths of 1 lower. Su keenan has your update on first word news. u. K. Prime minister Boris Johnson Opposition Lea
To a weaker dollar and higher yields across the globe. Time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. We want to start with the breaking news in the u. K. The pound is strengthening against the dollar on brexit optimism. Francine lacqua is live at westminster. Give us the lay of the land as we start trading this morning. Francine i have to say, you are absolutely right. You have to look at the currency. Theres this renewed optimism after a lot of ministers say they will be able to pass this first, we dont know whether Boris Johnson will be eight able to push his deal once again through a vote in parliament. Cow in the past has said no because this is the same deal. We could have various moments forcing the Prime Minister to ask for a referendum or forcing the u. K. To stay in the customs union. If it gets amended, word on the ground is that the Prime Mini