Everybody, in for Francine Lacqua today. This is the picture on the stock markets this morning, down 2. 2 on the stoxx 600. Ongoing fears about coronavirus, how its going to be handled. What are we going to see . What damages that going to do to eke economies globally . Thats the question as we watch the death toll rise and the infection rate as well. The u. S. Tenyear, incredible the pace of the movement we are seeing. Money going into the perceived safe haven of bond markets and sovereign bond markets in particular. The u. S. 10 year yield is now below 0. 8 . Brent prices below 50 a barrel, down 1. 5 overnight. Lets get to the breaking news for you. A french mp has been hospitalized after contracting coronavirus. This is the ongoing feat of information we are getting into where this virus is spreading next. We talked about the rising rate of infection in the u. K. , the u. S. , germany, and italy, of course. We will see how long it takes to get to peak infection levels. Lets get to o
The markets are clearly telling us that the markets are not pricing in the worstcase scenario when it comes to iran, or at least Portfolio Managers not. Stoxx europe 600 gaining some 0. 6 . On bloomberg surveillance, we will be speaking to the president of euler hermes, Wilfried Verstraete. That discussion is up very shortly. Lets get straight to the blumberg first word news. In new york city, heres Viviana Hurtado. We begin with the first stage of the u. S. China trade deal, set to be signed next week. China says its top negotiator is visiting washington, d. C. It is the latest move towards a detente. Contradictory reports this morning are emerging about what caused the ukrainian boeing 737 to crash and iran. Initially blaming a technical issue, then an engine fire. Ukrainian embassy running out terrorism, but then it amended its statement to offer no comment on the cause. All those aboard the plane were killed in the crash. Hong kong preparing a bold plan to boost its economy, accord
Can todays sales smash records . Have a look at what is happening to european equities. Gmm is your function. Talking you through all the various asset classes. Those other currencies that are falling against the dollar. Sovereign bond yields are rising. That is the situation. So many things to tell you about. Lets start with a south african rand. The rand rallied, today amid relief from last weeks assessment by Credit Rating companies. A did not deliver the deathblow that some anticipated. This is dollar rand. Earlier today, the rand is rising. The dollar is declining. The fall has been unwound, today. The rand is rallying by 2 . A bit of a move. Moodysratings warned it may do the same, leading to a rewaiting reweighting. This is a chart that abigail showed earlier. It twice on bloomberg markets, because that coin is showing no signs of slowing down, blowing past 9,000, less than a week after shopping 8,000, quickly closing in that 10,000 figure. This does not show you the price, just
Testimony move the markets later on . Matt, we are counting ourselves down to the ecb. Matt that is right. And and into the open of equity trading in europe just about half an hour to go. Equity Index Futures pointing slightly upwards right now. Important to point out that ahead of the ecb, ahead of the, testimony, ahead of everything that is happening today, investors have been a little bit cautious as far as going in and taking risks. They want to see the outcome of super thursday, if you want to call it that before they put anything on the table. A little bit less will i am could be expected today. That you have a busy day. The main event in many ways in terms of what is happening. U. K. Polls close at 10 p. M. I want to take you to the gmm. That is what is happening today. The yen is up by. 2 of 1 . Pay attention to that. Let me roll the board on and show you what is happening with the japanese 10 year. There seems to be the story that way howwill change the it communicates visavis
Mcdowell joins us on this hour of markets now. Dagen a quick news alert for you, Whitey Bulger will not be testifying in his own trial. I read by the same, incredible story, incredible trials, but he will not be testifying. Connell a lot more to talk about on jobs. Dagen 152,000 jobs added in july, 22,000 jobs short of expectations. The Unemployment Rate fell. Nicole petallides on the floor of the New York Stock Exchange with disappointment. Nicole you got these job numbers in, it was a disappointment. We are seeing the Market Selling off. This idea weaker jobs means good news, the fed will keep their bond buying in placee ultimately look, it is the weekend, were getting out, the market at record highs this weekend, the Dow Jones Industrials down 61 points. In addition to the job numbers, fewer people are bothering to look for jobs because they are so frustrated and fed up. Some names lagging including chevron, coke cola and more. Connell the head of finance group at black rock. Good t