Conference. Standard chartered shrugs off trade tensions to surpass expectations with firsthalf underlying revenue. Please speak to the cfo and next. Societe generale beats but revenue for fixed income dips in the quarter. We will hear from the ceo imminently. Matt the Federal Reserve has cut rates for the first time is really, but that only half the story. After the quarterpoint cut was announced, the chairman gave investors more than a little food for thought in what is widely described as a muddled press conference. He described the cut as essentially in the nature of a midcycle adjustment. Stocks hit session lows and the closely watched twoyear and 10 year spread flattened to the narrowest since march of this year. To say the move had an insurance aspect rather than signaling the start of an extended easing cycle. To thefurther adding confusion it with the comment that said i didnt say it is just one cut. The president said on twitter powell let us down. Keepovernors voted to rates
German defense minister steps down as defense minister ahead of a secret ballot that could cement her as the first female European Commission president. Manus warm welcome to your biggest concern to daybreak europe, and what is your biggest concern, a meltdown or a meltup . This is the msci world index. To bail on stocks. Central banks are giving you a gift, that is their message. More of a risk as equity markets go up, and people dont appreciate that. The question is, do you believe that going into earnings season . The least attractive market for them, the usa, their top calls australia and japan. A couple more markets, even i cant make wti more exciting than it is. Downgraded, what will the inventory tell us . And gold, it was red, i do promise you, ahead of retail sales. The point, if you want to protect yourself as yields go back up, do you want a little gold for protection . That is a question for markets. You have the glorious s p. [laughter] nejra it wasnt so glorious yesterday
Nejra good morning, everyone. Welcome to daybreak europe. Its 6 00 a. M. In london. Will powell spoil the . Policy the s p 500 gaining 1 at the height of its rally. We are flat on futures today, the 10year gilts up a basis gont, yesterday we saw it toward 2 . Will we break through that 2 level . What will powell have to say for that to happen . We saw the impact can bull markets in europe, hitting negative territory for the first time. Lets look at what were looking at elsewhere. Emerging markets, a little bit of weakness in the lira, suffering from fresh potential sanctions risk. We wait to see if it lasts. Wti crude on the front foot today as well in todays session. Lets check on the markets in asia, Juliette Saly has more. The rally were seen in global in europe ases well. Jumpre having the biggest since early january, you can see the nikkei up by 1. 8 in late trade. Its really hong kongs market, jumping the most since september of december of last year. Austrian share market gettin
We are live on the ground. Good morning, welcome to bloomberg daybreak europe. Just after six 00 a. M. In london. Lets go to hong kong and get the latest on the protests. Stephen engle is standing by on the ground. Great to have you with us. The debate on the bill has been delayed, give us an update. Stephen good to see you. The debate and the dialogue on the bill in the building behind me it has been postponed until down a littles more. Some of the protesters with masks and goggles and paraphernalia rallied yesterday, and were repelled by the police force, including teargas and rubber bullets and pepper spray. Some of them came here this morning, they congregated around us and were waiting to see if the Legislative Council would have the reading of the controversial bill. It turns out they have decided not to meet today or tomorrow, they saw that as a moral victory. They have not gone home. They have retreated out of the main street here, and we have one protester wanting to jump into
Capital. Protests continue in the region. Oilalling time, kuwaits minister says opec and its allies may end restrictions before 2019 if the market rebalances by june. Yousef this is Bloomberg Markets middle east. I am yousef gamal eldin in dubai. Tracy i am Tracy Alloway in abu dhabi. Good morning. Yousef special coverage out of to us about what we can look forward to. Tracy sure. I am at our annual conference bloomberg invest abu dhabi, our seminal conference in the region and comes at a crucial time for abu dhabi and its gulf neighbors. , theyre, saudi arabia are trying to attract Foreign Investment at a time of low oil prices. We will be hearing from that you ate he Energy Minister and hear from the deputy ceo as well. Later on, we will talk to the ceo of investcorp. Stake andtly sold a we will find out if there are more partnerships to come. Thanks. Cracking lineup. Global markets, yes, the story around bitcoin continues to evolve. It is a big week for Central Banks. This is gmm. W