Good afternoon. Im senior fellow with National Security program. Its my great honor to welcome Peter Frazier who is the head of gas, coal for the International Energy agency. He is here to launch the coal 2017 coal has been the worlds dominant fuel for a century. Certainly the robust deployment of renewables but then combined with the cheap gas and has been putting quite a bit of pressure on the generation. So the coal 2017 is one of the ieas signature publications. Its previously known as a midterm coal Market Report. It provides comprehensive analysis heater is here to walk us through some of the analysis and help us better understand where the markets are headed to in the near to midfuture, i guess through 2022. Previously between 1998 and 2004 he was a senior electricity policy adviser. This is his second tour. In between peter worked at the Ontario Energy board. From 1989 to 98 he was an Energy Policy adviser at the ontario ministry. It is with my great pleasure. He will speak for
Got us high as 88 this morning our global map futures falling sharply picking off where friday drop off. We have broadcom raising that bit for qualcomm it would be the Largest Technology deal if it got done it is best and final and it is worth more than 121 billion in cash and stocks. Shares of wells fargo sinks. Stocks are on track to extend the sell off on friday if the dow falls 235 points today, that would constitute a 5 pull back on its all time high on january 26th might we know how long it has been since we gotten that 5. It is been the story. It is how long the streaks have been last week we got rid of two of them which is more than 60 bases point tcp fr drop of the day. It emblems of how extended the market was and everyone i think, a week ago were saying it was overdue. Markets are over heated so this is how it looks and when ever that happens, you can grab at the headlines for why it could go further and i think just looking at the dow open makes a lot of sense they always s
Stay in negotiating the terms. Manus you are welcome to daybreak europe. Mnuchin isnt too worried about the dollar. The chinese are exporting like it is 2010. Equity markets are focused on the data rather than the revenue. There is the bond market that is telling us a little more interesting. The bond market simply doesnt believe the data. It didnt get the memo. You had the gdp number which is retrospective but the bond market lost 16 basis points. That is the steepest monthly decline. Since june has had 2016. We are within spitting distance of the lows set last week. Analysts said you should be 50 basis points higher than where you are now. They said we would be at 3 but the bank of nova scotia summed it up beautifully, this is uneconomic. 1. 4 . Ality is pc, it is the fifth straight month of being below the target of 2 . If you are in the bond market, you are in the 1 . , on thee in stocks verge of 1. 2 . China delivered the numbers, the reactivation. Youve got the eighth month of ga
We are seeing how this all fits into the focus with theresa may and whether she can work with the labour party in particular. We will be looking to talk about that with our brexit team here at bloomberg. We also have great guests coming up. David thank you very much. Lets get caught up on the markets. Alix here is where we stacked up. Equities have gone nowhere. Volume in europe is pitiful at the moment. I am looking at cable, not necessarily on theresa mays speech, but the chief economist at the boe will talk about where he comes down on the hawks vers us doves side. Selling on the margin coming down on the board. Crude goes down, 0. 8 . There is a risk of oil below 40 if opec does not shock and on the markets. David it is time now for your morning brief. We will get u. S. Job opening numbers and turnover for the month of may. And we will get the keynote address on normalizing the Central Banks Balance Sheet in new york city. Sell 123ury will billion in u. S. 10 year notes. That is al
Proponents argue this deadline is necessary to ensure timely consideration by d. O. E. , but given the departments track record, i find this arbitrary deadline to be completely unnecessary. In fact it could be detrimental to the ultimate approval of an export application. In light of recent events related to the jordan cove application in oregon, do you believe it makes sense to force d. O. E. To hastily make a decision on an application based on the final eis . We have consistently said we see no need for this. By performance. And as youve said, i think very correctly, there can be unintended consequences. The jordan cove, when that was rejected by ferc for nonenvironmental reasons, would have caused a problem with the bills as proposed. So, you know, we really should be having records of decision by ferc in this case or marad for an offshore facility because that is the complete set of information that informs our final judgment. I want to ask you about Climate Change and note that C