President , Robert Kaplan. Why one person sees i think we can but it was one of commodity exposed risk currencies . Zach not necessarily. The main reasons why it was that is what we saw the first appropriate we take action this time around when the virus was week and why we are very opportunities. Treated by investors as a china lets check today on the carefully monitoring the shock. Situation. Monetary policy is not the lead something that was concentrated policy option in this situation. In china and therefore negative for commodity demand. We need Good Health Care now the virus shock has gone global. Street, down today, arresting western europe, north america, yesterdays gains. Policies, containment policies. Both dealing not only with the transportation index is it is possible fiscal policy spillovers from china but direct will play a role. Enough fair market. There may be forbearance effects from the coronavirus outbreak itself. Policies from a supervisory that makes the currency
David we are going to go to our colleague guy johnson, the nchor of Bloomberg Markets the european close. Guy the fed is talking about easing, the ecb talking about using. The market is pricing in easing to the expectation for the bank of england. That is really what the bank is noting when it talks about the tension between its brexit assumption, which is for a smooth exit from the eu, and the market is pricing in a much bumpier view of how that brexit story is going to develop. We have the unfolding of the conservative Party Leadership contest. Boris johnson expected to become the next Prime Minister, talking about a hard brexit. Thats what the market is pricing. They are having to recognize the difference in where they are and where the market is right now. The bank has been talking about rate hikes being necessary. The market sees it a completely different way at the moment, and it is putting the bank of england in the context of the Global Economy at the moment, and the context of
Shery theyre watching daybreak asia coming to you live from new york, sydney and hong kong. Annabelle counting down to asias major market open. Paul a risk off move as fears of further rate hike go further south for u. S. Stocks and bonds in the intervention alerts zone as we wait for japan cpi numbers. Beijing is said to tell state owned banks to step up in the pboc also chiming in to stop yuans slide. Goldman sachs planning a hiring spree to address regulatory concerns from authorities, including the fed. Shery u. S. Futures extending the declines we saw on the new york session were u. S. Stocks were down for a third consecutive session. Tech giants leading the decline the likes of microsoft, apple were down today. We have pessimism over the chinese economy, but it was really about the concerns that the fed would tighten policy. We had more data today showing the labor market remained resilient with those jobless claims. We had most treasury yields higher. Talking about the 10 year y
This is bloomberg daybreak europe. I am lizzy burden in london. Wrestling bears, china delivers its strongest ever push back against a weaker currency, seeking to repair confidence as Developers Warn of mounting losses. Bank of america says investors should strap in the return of the 5 world as bond yields surge on bets at rates will stay higher. Plus, shot in the arm. Things get a boost as no fewer than 28 of them have said to be lined up for the arm ipo likely to be this years biggest. The morning. Happy friday. You have made its. What a week it has been for august. We have treasury yields broadly study but the 10 year was near the highest since 2007. The 10 year touching the highest 2011 and tech stocks especially feeling the weight of rising real yield. U. S. Futures flat after the close that stocks are headed for the worst read a streak since march just as yields ease off the highs. In beijing shares heading for a six daily decline. Bear fatigue setting in on the china story now.
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