And bank ofs, citi, america all reporting today after j. P. Morgan and wells fargo yesterday. The pboc cuts mediumterm borrowing costs again amid expectations of further easing, after the imf warns this years downturn could match that of the Great Depression. We are just under an hour away from the start of cash equity trading across europe. Lets take a look at how futures are trading. We had gains in the cash trade yesterday in europe, with the exception of the ftse, and big gains in the u. S. To close the session last night. Mixed trade in asia as the earnings season began to kind of way on some investors sentiment. As a result, we see european futures down this morning. Nasdaq, u. S. Futures down as well, about two thirds of 1 . Lets get you the bloomberg first word news from the terminal. President trump says he is suspending u. S. Funding for the World Health Organization while his administration reviews its response to the coronavirus. He says the who was slow to share informatio
The pboc cuts mediumterm borrowing costs again amid expectations for further easing. Holds a virtual spring meeting. Welcome to daybreak europe. Emerging markets are very much in focus with the imf meeting. What a dire warning on the Great Lockdown recession. This is a bank of America Survey. The pessimism with cash levels at their highest since 9 11. Globalinvestors expect a recession in the next year. Manus the question is, our markets prepare for that . We woke up to a world which is driven by unilateralism over multilateralism. The halting of payments to the World Health Organization, the policy in the g7, unilateralism within the United States of america is alive and well. Theavorite line apart from 450 increase in provisions of jpmorgan is from howard marks. A healthy fear of loss in the market has been taken away. Weve got results. Forfirming the guidance 2020. Thats a big call. Nejra the red headline is that asml is refraining from giving guidance for the Second Quarter. 2020,
Woodruff all that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by on an american cruise lines journey along the colombia and snake rivers, travelers retrace the route forged by lewis and clark, more than 200 years ago american cruise lines fleet of victorianstyle paddlewheelers and modern riverboats travels through american landscapes to ustoric landmarks, where can experience local customs and cuisine. American cruise lines. Fidelity investments. Shour. Bnsf railway. Consumer cellular. Carnegie corpation of new york. Supporting innovations in education, democratic engagement, and the advancement of International Peace and security. At arnegie. Org. And with the ongoing support of these institutions and individuals. Ra this prwas made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff Coronavirus Infections have passed the halfmillion mark worldwide tonight,
We will look at the reports across the Global Supply chain. Hsbc puts 35,000 jobs on the chopping block. We will find out what the bank is doing to graphs to grapple with the outbreak. Today, you had a drop in the major averages like the s p 500. The chipmakers getting hit the hardest. This is an art this is after apple of course said they would miss quarterly revenue numbers. Means is a flight to quality, you are now down about 23 basis points or so, very curious. Where they think value is for the 10 year. As around day 180 or so. Yield on the long end, that threemonth 10 year now inverted. The most inverted we have seen it since the beginning of the month. A fairlyis going to be busy day in this part of the world. His hollande new zealand trading already. Futures looking flat in australia as well. Metals, one of the big iron ore minors is reporting earnings. Also crown casino. Gold is priced in gold priced in australian dollars is a record. Currencies, the u. S. Dollar performing fai
Were looking at markets moving into the mid morning. Parts of the morning session and we are not getting a lot of momentum coming through, not surprisingly so, given the momentum we have had across various parts of the equity markets. They just one the latest one to join in as the equity shares. We are back to session lows. The hang seng is zero point 3 . Other things we are tracking of course is the move up in treasuries and ironically speaking, of course, given that it may be in the outlook on treasuries, optics wise given the ratings downgrade, unexpectedly we are seeing that ironically going back into the treasury. Rishaad absolutely. This is a haven which is the one which is effectively being downgraded. There are other things at work here. We have refunding projects for wednesday skewing higher. The treasury barring estimates on monday. Financial and Corporate Bonds issuance lower. There are lots of things supporting the treasury market. This is a catalyst ideally i guess with re