Objective. President trump continues his state visit to the u. K. Playing down dirchfferences over huawein promising a great postbrexit trade deal. The United States is committed to a phenomenal trade deal between the u. S. And the u. K. There is tremendous potential this that trade deal i say probably two and even three times of what were doing right now. The imf trims its 2019 frost for the chinese economy saying more policy easing could be called for trade tensions escalate. And hedro trades near the top of the stock after the aluminum producer delivers better than expected First Quarter profit and signals production is closer to capacity good morning, and a very warm welcome to street signs. Weve got fresh data coming through for the euro zone. That is the final composite pmi numbers as well as services. Let me bring you what those numbers are. On the composite number, the final pmi has come in at 51. 8 for may. That is slightly better than the flash estimate of 51. 6 it also is hi
As to the longer rates narrative. Pets on a november fed hike rising to about 60 . Apple sliding the most in a month under reports of some government chinese agencies banning the use of iphones. We get japans travel outlook exclusively from the ana ceo who tells us that demand from china is soaring. If you look at u. S. Futures, it looks to be shaping up in a fourthdown day. The asia session could change that. We are early in the session. They are pointing lower. I just want to give that warning right now. It looks like we might see little bit more weight to bonds. Yields higher once again today after all of that data. Service is showing a lot of strength but also strengthen prices paid, which is perhaps the most troubling aspect of this whole thing. That adds to inflation. With oil prices assize they are at the moment, thats another troubling factor for those worried about inflation. Those include some fed Board Members and some fed president s including Susan Collins and jim bullard.
Yvonne the markets, the narrative seems to be pretty much the same all week. We are ending on the third week of losses when it comes to stocks. Stocks are lower. Dollar is catching a bid. Gold is catching a flight to safety. Dollaryen, 150. Watching bond markets closely. Extraordinary volatility we have seen. At least we are seeing yields temper a bit. The 10 year jgb yield is when we need to focus on. 0. 84 . Whether we do see some buying from the boj, they are offering some loans to banks to buy these bonds on the cheap to try to cap the yields right now. You take a look at how the rest of the market is set up for india and thailand. Thailand is opening up. India if there is the oil risk, tech earnings have disappointed to die wonder if this rally can continue. Rishaad looking at india and prospects to the downside, the rupee came close to a record low. It was the day before it hit record lows. We got a set index in bangkok on the way down to the bond is stable for a change with no w
Christian all brick ulbrich joins in just a bit. I am Katie Garfield in new york. Welcome to bloomberg markets. We have a green start to the week with the s p 500 up about. 6 . If you take a look at the nasdaq 100, we are talking about. 6 . We have another big week of earnings coming up, so we will continue to watch these lines. Meanwhile, on the bond market it is a quite start to the week, the 10 year yield unchanged following a big rally. We are sitting at about 4. 5 percent. One stock we are keeping an eye on is apple after Warren Buffett praised the tech giant over the weekend. He said apple is better than American Express and cocacola. Despite that praise, buffett revealed he cut his stake in the tech giant. He said a lot of things about several different companies. Sonali he did. When we come to apple, that was one of the biggest headlines because he did praise apple despite trimming his stake. He hinted at tax implications. If you are facing a 21 tax rate, he says your tax rate
China out prices in in half an hour. 4898, it tells you what has been going on since 2006. The white line indicates firsttier city performance. We have had this massive runup in june 2015. Ever since, we have seen this fall back. It has been muted for secondtier and third tear cities. We have early data from china real estate showing a sharp rebound in tier one cities and tier three cities. Is the result of strict controls during the october Party Congress unwinding, so the possibility of a turnaround. All will be revealed after xi jinping said houses are for living in, not for speculation. The lastding day of week in this part of the world, singapore, taiwan, and malaysia kicking things off. Sophie the countdown to christmas, risk on for markets with the u. S. Tax bill passage looking likely. We have the Malaysian Ringgit and the won leading declines against the dollar, and the yen looking to test 113. We have u. S. Key Economic Data deck this week. Shares mostly climbing. The kospi l