Good morning. This is bloomberg daybreak europe. These are the stories that cite your agenda. A selloff in chinese equities deepens as the property sector crisis continues with Country Garden ocean shares plunging. Save the date. Goldman sachs says the fed will start lowering rates by the end of next june with cuts being gradual and quarterly. Plus the yen weakens through a key level against the dollar, triggering speculation authorities may intervene to support the currency. Good morning. Happy monday. Welcome to a new week. The last week ended with stocks scrambling for something to cling onto. The s p 500 closed a month low. The nasdaq notched its longest weekly losing streak this year and the latest mixed Economic Data did not do much to help. If you are a stock or treasury bull, bill gross has a message for you. He says the fair value of the 10 year up and is about 4. 5 . But look at where we are this morning. 4. 17 , up two basis points. A way off to go. In asia, the selloff in c
Good evening the top stories this hour. Bloomberg learns the u. S. Is set to limit its scope. U. S. Stocks slip on worries about the economy and financial system. Moodys downgrades 10 smaller lenders. They did finish off session lows, the s p 500 lost more than 1 at one point and it recouped half of the losses. We had a haven demand not to mention moves despite the fact we are bracing for the 100 billion wave of options but have to be digested this week. Take a look at crude prices down. 2 after gaining ground in the new york session. We heard from the ukrainian president talking about retaliation and russia continues to block the reports. Its all about the after our session. Look at the bank because we are looking at huge losses. That overshadowed better than expected outlook for earnings that had seen the stock rally earlier on. Supply Chain Disruption said ease, but they expect heavy losses to continue as a boost production and we work plunging. Doubt about their ability to continue
This is gps the Global Public square. Welcome to all of you in the United States and Around The World. Im Fareed Zakaria coming to you from aspen, colorado. Today, an extra special program with three, yes, three former secretaries of the treasury. First, ill talk to Henry Paulson and Timothy Geithner about the state of American Politics and the downgrade of the uss Credit Ratings and the struggles of the chinese economy and then robert ruben talks to me about how to make hard decisions and what a yellow legal pad has to do with that skill. Finally, david burn came to fame with his new wave band talking heads, some 40 years ago. Ill talk to him about his latest wave of creativity which includes a musical about former fill pina first lady Imelda Marcos. Performed in a Broadway Theater thats been transformed into a disco. But first, heres my take. For years American Politics has been shaped by the idea of the china shock. The term coined by three economists in a paper captured the widespr
World. Im Fareed Zakaria coming to you from aspen, colorado. Today, an extra special program with three, yes, three former secretaries of the treasury. First ill auck to Henne Paulson and Timothy Geithner about the downgradingst u. S. Credit ratings and the struggles the chinese economy. And then robert rubin talks about how to make hard decisions. And what a yellow legal pad has to do with that skill. Finally, david byrne came to fame with his new wave band Talking Heads. Some 40 years ago. I talk to him about his latest wave of creativity which includes a musical about former philippina first lady Imelda Marcos. Performed in a broadway theater. That has been transformed into a disco. But first, here is my take. For years now, American Politics has been shaped by the idea of the chinese shock. The term coined by three economists in a 2016 paper captures the widespread believe that trade with china has resulted in the deindustrialization of significant parts of the u. S. And loss of hu
Good morning and welcome to daybreak australia. We counting down to asias major market opens. David im david in hong kong. Stoxx are set to face headwinds, futures are pointing lower amid the u. S. Holiday. Rba decision today, the bank is expecting to hold its key rate. Its governor phil lowes final meeting. On the housing crisis threatening to engulf surviving developers with about two thirds of the 15 major private builders in default. Breaking, alan joyces is stepping down early as qantas ceo after a bad few weeks for the company. Public anger over a series of scandals. We will get to that story later in the show. In the meantime, breaking news out of south korea, all start with gdp numbers, its not important. Whats inflation are the whats important on the Inflation Numbers. Gdp,. 9 . Just this than it takes you to. 6 . That is the gdp story in line with estimates. What is coming in hot right now is the inflation print which looks absolutely nasty on face value. Up 1 on month on mon