Welcome to daybreak europe, our flagship morning show here in london. Im manus cranny. Matt and im matt miller in berlin. Manus good day to you, good to see you. It is risk off by a variety of measures, but none more so prophetic than this. Btb, 7694. Euroyen, dropping for 11 straight days. That is the longest losing streak on record. What are you looking at . This is the 200 day moving average. We managed to close below the 200 day moving average, a whole variety of issues. Syria, tillerson going to russia, trade fractions between the u. S. And china, and the french elections. The risk reversal i know you plot the binomial distribution curve of risk reversals it is the lowest since brexit for euroyen. The consensus is we will be 121. Matt . Matt manus, they say genius minds run on the same track. Most of our viewers wont believe we dont plan this, but the first thing i thought of on the risk radar as well with euroyen, because of the amazing run we have seen. Here you see i have the s
Europe is pretty weak. Ten year yield 223, now the lowest since mid november and gold came close to 1290. Our road map begins with a eye on the financials. Jpmorgan, wells and citi all reporting better earnings than expected. Plus, the new centrist president and about face from President Trump on several key Economic Policy positions. And apples big health bet. Sources tell cnbc that the company has a secret Group Developing a new glucose monitor to treat diabetes. But first up, earnings season is here with a bang. Jpmorgan and wells fargo and citi group out this morning. Citi earnings and revenue came in well above the estimates. Mortgages though remain a trouble spot. Pretty good in trading. Equity yeah. Very quickly, jpmorgan is pretty much what im going to say pretty much perfect. But the stock was up very big. People are looking at the futures versus the stocks and just hit them down. That is three basis points better. I love the delinquencies here. Theyre, very very good and comm
Fda notedter the Incomplete Records during an and action on the plans earlier this month in a note seen by omberg says failure to investigate masses that thats is that did not meet specifications. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. Bloomberg. Ching hong kong and china closed for lunch. Barely moved. Bouncedte back back into positive territory after being in the red. I will be back in half an hour. Ousef welcome to the best of Bloomberg Markets president erdogan with sweeping new powers in a referendum area we spoke to the deputy Prime Minister and has its worries for the lyra. Rex tillerson warned it could be another north korea if its Nuclear Ambitions are left unchecked. Capitalhear from our and see why als are being good. Weekendls best rally is due to a surging u. S. Production. Asking opecs chief model for the take on the situation. In the 2016. [indiscernible] q2 withto q1 and traditionally more the resurgence
Hello. Is this the right reaction . Last thursday, cyclicals began to rally. We questioned whether it was the time to make that rotational call. So far, the bond proxies, consumer staples, utilities, theyre outperforming the cyclicly oriented type names. You come in this morning, you question whether you want to get back where you have the exposure to the cyclicals. Ive stayed with financials. I think thats the right play. Then the other question is what do you do with global cyclicals, which have far outperformed domestic. Is there more runway there . Do global cyclicals continue to outperform . Thats the question. What is your answer . The answer to that for me is dont leave the financials. The financials remain the biggest source of opportunity, both on a valuation basis on opportunity to drive earnings growth. To me, thats the one i stay with. There are others that i think are suspicious and questionable. I like joes calls on cyclicals. Theres a big question we just dont know the a
Outrage. This time it involves a mother, her baby, a stroller, and an American Airlines attendant spoiling for a fight. Power lunch starts right now. This time baby ill be bulletproof happy monday, everybody. Im brian sullivan. As you heard your money is making you money. Today a nice rally for stocks. The three major averages having their best oneday gains in months. It wiped out aprils losses. Once again technology is leading, the nasdaq hitting new highs yet again. Financials a top performer. Bopped yields go up. And heres one notable stat for you, the etf that tracks the french stock market on track for its best day since august of 2012. All right. Here is what else is happening this hour. Another big week for earnings as you heard melissa and the group talk about, about 100 firms already reported so far. Of those 77 have topped estimates. Just 16 have missed. The Supreme Court, meanwhile, declining to hear gms appeal of a ruling that allowed faulty ignition switch lawsuits. Invest