Oils biggest drop in three decades. Some buyers of saudi crude are said to seek 50 more after it slashes prices. The ferocity of yesterdays in this mornings rolldown. You are seeing a moment of either reprieve, and the best opportunity to sell in terms of the s p futures over the past two days. On a futures front, we are off on the s p up on the s p futures. Up 3. 5 . All out recession was being pumped into the prices yesterday. We turned into a bear market. Dropping futures by 20 . Have a look at the bonds. Yesterday was down for equities. This morning there is a limit down. Thats giving you a nice spike in yields. My last guest said expect a further pump higher in terms of yields. That is when they would seek to enter the market. The fed are active. The new york fed are adding liquidity. Turning on the repo tap. Say the fed as opposed to a Global Central Bank reaction. The fed is acting on liquidity. Roll over the currency market. , yields protectionism rise in the United States of a
Angela merkel does not rule out joint eu debt issuance. Nejra another emergency move from the fed sent stocks and yields soaring, but we are reversing some of those gains today. The 10year yield, we saw the biggest route in 10 and 30year treasurys 1982. We talked seven basis points on that 10year yield today. Asia. N the screen in the moves we saw yesterday in , also theisk on prospect of that stimulus to the tune of more than 1 trillion, but the question for markets is how can risk on continue until we see any kind of inflection rate in global coronavirus cases . Yousef this emergency Lending Program that has come out to try to support primary dealers is front and center in the Monetary Policy side. You mentioned some of the we got on the fiscal side. We are firmly downward, 3. 7 2000. Than also look out for major moves in the commodities and epic space. For the bloomberg in the commodities and these days. If you do have this continued depreciation, then a lot of these measures arent
Political backlash. To rule ea is said himself out of the running for hsbcs top job. Berkley Ceo Jes Staley is expected to leave by the end of 2021. Manus a warm welcome to daybreak europe. The official of unicredit says mustier is staying at the italian banks. That is the headline. You have the jes staley story this morning, a little banking stories. For me it is about the conversation i had with axel weber on the weekend on the sidelines of the g20. Very clear, equity markets are underpricing the gravity, longevity of the potential risk from the coronavirus. That sums it up. And mustier is staying at the italian bank, good news contin. Nejra absolutely. Who would want to take the top row at hsbc with so many challenges . In terms of the coronavirus, seems like investors are trying to find the bottom of this crisis. I think it is pretty fair to now, even ifright some of the rhetoric coming out of the g20 was a little more contained than what markets are reflecting. I think that was do
A surprise appointment at the head of ubs. The ceo of ing to take over from Sergio Ermotti. He is known for the Digital Transformation at ing and a eran of the dutch banking banking a comparison to whats been happening here, hamers is a relative outsider to the rarefied world of swiss management. He has climbed the ranks. He was the head of the dutch and belgium banking units. He has been ceo since 2013. What he is known for is leading the Digital Banking push in an effort to win customers and he is also known for cost cutting, and thats what he has been doing, bringing ing back to profitability by reducing costs. Sergio ermotti recently cut the banks financial targets for the second time in as many years. We were reporting that the search for a successor was starting on friday. That news came through. The International Wealth management cohead was widely seen as an eventual contender for the top rule. His run in with his former boss, Tidjane Thiam, apparently dimmed his standings with
Very warm welcome to bloomberg daybreak europe. Lets get straight to breaking news. Fourthquarter net income, 1. 6 billion euros against an estimate of 1. 4 8 billion ahead of the estimate. The ratio, 12. 1 , looking for other numbers, the revenue number coming in at 5. 1 2 billion. It looks like it has beaten the top and bottom lines, and the dividend comes as anticipated. The story is on Asset Management for growth, trying to offset the impact of lower negative Interest Rates and Rising Capital requirements, which forced them in december to take it right down on the french Retail Banking business. More diversified and less dependent on rivals on the trading side. What expectations do they have for growth in the Retail Business . The creditak to agricole ceo on a European Market and 8 30 a. M. U. K. Time here in london. Lets get to the markets and see where we are trading at. In the asian session, the asiapacific region, the market ,ooking flat, pretty confused unwilling to take risk