Investors should prepare for this. What does this mean for the pound, which has been stuck in a range, and for u. K. Stoxx at large . As far as the pound is concerned, the rally you have had reflected a significant reduction in the risk of a no deal brexit, so for the time being that seems to be off the table. We are stuck a bit around 1. 30. We need to know where we are going, and until we get past the election and have a sense of what the majority is, it is impossible to have any assessment about the direction of the pound. We are neutral because we think there is far too much uncertainty and too many permutations to take a significant view. As far as u. K. Equities are concerned, it is an inverse relationship between u. K. Equities and sterling, so when sterling weekends, u. K. Equities outperform. From that point of view, if we get a path that moves us toward a softer brexit or no brexit, that should be good for the pound but worse for the u. K. Equities. Dan morris and Stephanie K
A threeday look at futures, dollarchina. You have sterling on the back foot, relative renewed optimism over brexit and you have dollaryen on offer. On the back of this return into the risk appetite. Donald trump making another comment on top of on top of him saying the talks went well about an hour back, he also said the chinese are very nice. That has driven dollarchina up. U. S. Futures, 29. 50 into the open. Look at the equity markets, the shanghai composite, topix index, decenthave asx session, volumes coming back but not quite to the recent averages. Quickly, look at the bond market. Will talk about a reposition out of sri lanka but that is what you need to know. You haveear yield, japan, australia, the u. S. , and what youve seen in gilts. 13 basis points, secondbiggest in absolute value, biggest jump since referendum in percentage turns, biggest jump on record. We will see if this continues. Are we setting ourselves up for disappointment . Puttinghway to brexit, yield on a stair
Anna not enough progress. E. U. Ound surges as negotiators warned that the brexit plan is not good enough yet. The Prime Minister says there is a way forward. One. S unfazed by phase a partial trade deal lifts Global Equities but weaker export data highlights a risk of a full agreement if a full agreement is not reached. Bloomberg learns volkswagen is assessing options for its supercar brand including either a sale or stop listing. Such moves are unfounded, they say. There are no such plans. We are less than a half hour from the european open. Matt a lamborghini roadster joining into our offices in new york city. Lets look at the markets now. We have gold. I am looking at gold, trading at 1488. Gold has come down recently. S concern has we get the as we get the handshake deal over trade. Issues for Global Growth. Lets take a look at what we have going on in terms of futures here across europe. You have ftse futures gaining but dax futures and cac futures down. Continental futures off.
Attacked by armed, masked men. We are live in the city. Welcome to bloomberg surveillance. Lets check in first off on the markets. We see gains across European Equity indexes. That should show through in terms of u. S. Futures, as well as s p futures. Oil is down. You will see the big majors weighing on the stoxx 600 index. Maybe a turnaround of the gains we saw oil take yesterday. The u. S. 10 year yield is currently up for basis points to 1. 54, so investors feel less concerned and are selling that that. Lets get bloomberg first word news in new york. We begin in argentina. S P Global Ratings cut the Credit Rating to selective default after the nation said it would delay payment on more than 100 billion of debt. They says criteria, constitutes default, but the new terms for shortterm debt came in immediately and they will lift argentinas rating to triple c minus. Boris johnsons suspension of parliament will get an early test. , saying are ruling courts, saying it is an affront to dem
An easter bunny brawl. The fight in front of kids and the costumed character is not the only one facing charges. A spring snow, wait until you see what lonnie is forecasting for the rest of the week. First, they had told us her autistic son was abused at school and administrators kept the attack a cedric. A secret. Im maurice dubois. The parent says he was roughed up and they were never notified. Cbs2s Jessica Schneider is in our newsroom with the alleged classroom cover up and how the reporter i talked to that mother tonight. She is now homeschooling her fiveyearold son. She also plans to file a lawsuit, she says its bad enough her son was allegedly pushed to the ground by a pair of by a paraprofessional but now she feels shameful about how she actually found out about it. Teresa brown is keeping a close eye on her fiveyearold son brendan these days. Extra protective of the autistic boy after yanking him out of ps3 73 r on Staten Island. Brendan has limited verbal skills and could nev