Some relatively bullish guidance. People still buying into the treasury market. Going up again, Third Straight day. I want to look at the skew index. This is the tail risk on the s p 500. It is holding at the 128 level. This is above the level we were at in early summer. This gives you some sense of why this market remains rangebound. A little bit of nervousness still out there. 600 trading at 392. They are still talking about breakout. His swansong. Arrivederci, draghi. Weak, particularly out of germany. Well. Ra getting hit as it is cutting way more than anticipated today. We have 250 basis points. A reasonably sizable move in the lira. Arkets watching for what comes next. Draghipresident mario tenure afteris releasing another round of stimulus to counter the slow down. Data confirmsg our previous assessment of wea kness in euro area growth dynamics, the practice of Downside Risk and muted inflation pressures. Lets bring in matt miller from frankfurt. What was the main takeaway here
Fall. Is this a blip or something more meaningful happening, live from london, im guy johnson brayden counting you down to the european close right here on bloomberg markets. Romaine lets get a check on the u. S. Markets. A lot of questions about the sustainability of economic expansion. A lot of uncertainty about manufacturing, can this expansion go on . The answer from the market, you can see is pretty much we dont know. 20 point range over the past month, 40 point range over the past two months. We are going somewhere on the Philadelphia Semiconductor index. Of far off that record high 1625 set back earlier this month. Getting a boost, people looking for a bottom in the semiconductor sector. Research adding to a little bit of optimism. A lot of those concerns about texas instruments, a lot of people shrugging those off. Calling it the tom brady of the market right now. Year,es barclays 20 tracking the long bonds in the u. S. Seeing bids back into this. Short on safety despite the fa
What is happening in the World Economy. Working off a couple signs that the Global Economy is losing momentum. We are also getting october area manufacturing pmi instead of the forecast of 46 pounds. Its all to do with the extension. Were hoping and waiting to hear from the eu. We are getting a couple of key decisions and we have the ecb a little bit later today. All eyes on mario draghi for his last News Conference. Bank norges bank leaving its key rate unchanged. Shares are down 22. 5 and we will have a full roundup of all of your stocks. Coming up, we speak to the acting chief executive of air shuttle in about 10 minutes. But first, lets get straight to first word news in your city. Agree theysadors should accept the eus request for a third extension of the brexit process. Splitey are reportedly over how long to grant the extension. The french are pushing for a tight deadline but many other countries want to permit the three months officially asked for. Johnson was forced to ask for
On 110 billion of product. The apple watch among products subject to the new levy. China responds with incremental duties on 75 billion of u. S. Goods. Official pmis for china show a Manufacturing Sector that is still in contraction. The u. S. The u. K. Labour party readies legislation to prevent a no deal brexit as Boris Johnson pledges billions in domestic spending when parliament returns tomorrow. Good morning. Welcome to bloomberg markets. Im looking at bones. We are seeing that actually the yield is coming back up. Investors are not as worried as you might have thought. Take a look at futures throughout europe. We do see when you look at the futures trade still some green dax futuresexample, are up. Ftse futures are up a third percent. Open,not, at least at the turning out to be a risk off day. The u. S. Has slapped tariffs on 110 billion dollars more in chinese imports. The 15 duty came into effect yesterday. Consumer goods ranged from textiles like the apple watch to Technology
About a hard brexit. The boj has to push back its inflation target one more year. Selling on the margin when it comes to the german 10 yield bund. Morning,ming up this 7 45, the important ecb Rate Decision followed by Mario Draghis News Conference 45 minutes after that. Initial jobless claims and the fed survey. At 10 a. M. We will get the indicators. After the bell we will have fourthquarter results from microsoft. Now, lets get an update on headlines outside the business world. Emma a startling admission from the president about jeff sessions. The president tells the New York Times he would not have appointed sessions if he knew that he would recuse himself from the russia investigation. He called sessions decision unfair to the president. The president may take another shot at getting a Health Care Bill passed after the present parish republicans to stay in washington until they repeal obamacare. Republican senators met with the president. Mitch mcconnell still was to hold a vote on