Good morning, everyone. This is bloomberg surveillance. This hour, we are joined by the global head of strategy at martins family Morgan Stanley. We also talked to the current coo and soontobe ceo of the bank of morreale. In the meantime, we have a little bit of breaking news. Pmi out of the eurozone. This is exactly what we are getting. We are looking for a little bit of euro reaction. Pmi falling to 55. 4. And little bit better than expected. Not as strong as the month before, but they have been revised upward at 54. We were expecting 53. 7 figure. These other markets over all. We are seeing a little bit of a risk reversal. This after the u. N. Is set to meet on the north korea threat. What it means for the markets is yesterday there was clear demand, but today not really phasing the yen. Gold is down a touch or pretty much flat. Stocks seeing small gains, gaining 0. 1 . We will have plenty more on the markets but lets get to the first word news. Bank of england policymaker says u. K
10 billion a month, ramping that up to 50 billion a month in quarterly increments. They could not agree. Several Committee Members favored starting in a couple of months. That. Preferred to do for er that. Fer to def it could be argued that some of the dots would prefer to get more time before taking any action related to the Balance Sheet. Some of the doves would prefer. More hawkish members may prefer to move ahead with another Interest Rate increase before the Balance Sheet is taken on next. ,n the question of inflation the official message from the committee is still viewing inflation of the recent dip in inflation as something that is transitory. Committeembers of the doesnt several participants expressed concern that progress toward the committee to present longer run inflation objective to present longer run inflation objective might have longer run inflation objective might have slowed. There were some senior fed officials, including janet yellen come who talk about high equity
10 billion a month, ramping that up to 50 billion a month in quarterly increments. They could not agree. Several Committee Members favored starting in a couple of months. That. Preferred to do for er that. Fer to def it could be argued that some of the dots would prefer to get more time before taking any action related to the Balance Sheet. Some of the doves would prefer. More hawkish members may prefer to move ahead with another Interest Rate increase before the Balance Sheet is taken on next. ,n the question of inflation the official message from the committee is still viewing inflation of the recent dip in inflation as something that is transitory. Committeembers of the doesnt several participants expressed concern that progress toward the committee to present longer run inflation objective to present longer run inflation objective might have longer run inflation objective might have slowed. There were some senior fed officials, including janet yellen come who talk about high equity
10 billion a month, ramping that up to 50 billion a month in quarterly increments. They could not agree. Several Committee Members favored starting in a couple of months. That. Preferred to do for er that. Fer to def it could be argued that some of the dots would prefer to get more time before taking any action related to the Balance Sheet. Some of the doves would prefer. More hawkish members may prefer to move ahead with another Interest Rate increase before the Balance Sheet is taken on next. ,n the question of inflation the official message from the committee is still viewing inflation of the recent dip in inflation as something that is transitory. Committeembers of the doesnt several participants expressed concern that progress toward the committee to present longer run inflation objective to present longer run inflation objective might have longer run inflation objective might have slowed. There were some senior fed officials, including janet yellen come who talk about high equity
Ahead of fridays g20 summit. At 10 00 we get factory and goods orders for the of may. This afternoon the fed will reap the fomc minutes of last weeks meeting. President trump will be heading to europe for the g20 summit. The question is of may. This afternoon the fed will reap the fomc whether they are going to spend the time talking about geopolitics or trade. Heres kevin cirilli. We thought it was going to be all about trade. It doesnt look so much right now. It looks like its going to be all about north korea. The administration sending clear singles they are hoping to put pressure on north korea. As a result of their testing of an Intercontinental Ballistic Missile on the fourth of july. We should note that secretary of state Rex Tillerson has echoed u. N. Ambassador nikki haley who has called for there to be a laterl you in meeting this afternoon with the Security Council. I want to pull up a statement from the secretary of state who said in a statement that Global Action is requi