Remember on the week u. S. Markets are lower. On the week european markets are higher. Eurodoller trading 118. 30. Taking a tougher line on the link between the Exchange Rate and inflation. The pound continues to fall trading 11787 as we continue to see the stalemate between e. U. And the u. K. On the u. K. s new legislation, the internal markets bill, which will undermind the treaty signed between the Boris Johnson government antie. U. Not that long ago. Alix thanks so much, guy. We are very welcome special guest, we are happy to have him here. Stanley fischer, the former vice chairman of the Federal Reserve. He has just been awarded the first miriam pose yem prize by the m. I. T. College center for finance and policy for his Outstanding Research and leadership in financial policy. Its a pleasure. Congratulations. We truly appreciate you spending this time with us. Not to get right to it but lets get right to t the latest Inflation Numbers out of the u. S. Today, Consumer Prices arose
Monetary policy but says more can be done. A year after listing in hong kong, a Logistics Company discusses real estate, fund management, and the impact of covid19. We speak with the chairman later this hour. Haidi breaking news crossing the bloomberg when it comes to the pmi indicators out of australia. For augustumber still in contractionary territory at 49, better than the previous reading of 48. 1. The pmi composite number, a little bit of an uptick but still in contraction territory. It will be a while before we see a meaningful recovery given we are hearing in domestic media that the state for restriction law down in victoria, melbourne, and surrounding areas could be extended by another two weeks as we continue to get these numbers out of victoria. We have seen a jump about 100 new virus cases for the first time in three days. Another exuberant session for the u. S. Tech underperformed. The s p jumping the most in almost two months to another alltime high but interestingly, the
Here are your top headlines from the bloomberg terminal. The fed flags the risks. Global stocks slide. U. S. Central bank minutes say the virus will weigh heavily on Economic Activity. Also betes will released later on today. The u. S. Suspends its extradition treaty with hong kong. Beijing and washington are also set to play in resumption of trade talks after last weeks flop. The eu rejects the results of the belarusian election. The block falls short of calling for a fresh bowl even as eight individual members back that kind of mood. Move. Lets take a look at futures. We are seeing red across the board in terms of european futures. More than 1 drops on the euro stock. Ftse very widely traded. Dax futures in frankfurt. Acrossseeing red arrows u. S. Futures as well. Still looking at drops their. 0. 5 on s p, dow jones, and nasdaq. Anna . Anna we see the European Equity market having to catch up a little bit. Lets get to breaking news in london. Too late is where they operate. Numbers c
Bought bank of america for 12 Straight Days. You own it, what do you think . The stock is still down we like it, we like it for its diversified businesses ive been wrong for the last, you know, year owning this stock, but as we get forward to i think closer to a normal market, whenever thats going to be, bank of of me and j. P. Morgue aren in a good place. They have a lot of businesses and are trading when you look at the market at a very cheap value. Yeah, the catalysts are not there yes. He as got a good position in it. Jo he, 12 Straight Days, right . Stocks up 8 in that time frame, maybe giving it a bit of a jump start, 337 million they know own almost 12 of the outstand, should investors following the oracle into bac and maybe the banks more broadly . Well, i mean, colt he could buy it for another 12 days he cant fix the headwinds you know im in pmorgan. Thats the one bank in the best in breed the reasoning behind why i am not in that is just the significant consumer exposure that
This is bloomberg surveillance. Im Francine Lacqua in london. Lets go straight to the markets. We are seeing a lift to the market somewhat but a bit flattered then what it was earlier on. 0. 4 . Oxx 600, down by the dollar is rising. Treasuries advancing. We had a little bit of momentum. We saw that historic rally. The dollar strengthening for the first day in nine sessions. The Federal Reserve extended its main Street Lending program which means it is allowing more companies to participate. That lessens the burden on banks that create the loans. Plenty more on that throughout the day. Thats get to the first word news in london with dani burger. Dani hi. Lockdowns across the world may have prevented about a half a billion coronavirus infection. That is according to the first peerreviewed analysis of the impact of health policy. It comes as the World Health Organization says people without symptoms passing on the virus is very rare which contradict speculation about the prevalence of so