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Bubble. The good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. The markets are focused on data in the u. S. , stimulus in the u. S. , and for july manufacturing 51. 1, instead of the 50 that was expected. The other thing we are really ,atching out for is gold, 1897 within a whisper of 1900, which will be a big psychological impact. Now lets get to the bloomberg first word news in london with laura wright. Hi, laura. Hi francine. ,rising for the first time about of march to 1. 4 million, but dropping slightly. The data comes as hundreds of billions of f...

Jim isto ms. Joint joining us now. This is the question of the moment. Is the momentum lost or is the economy going backwards . Jim you can almost go statebystate and tell me what the case counted as and i can tell you how much economic momentum they have lost. The biggest Economic Indicator is rising covid cases. Once that peaks nationally and thets down, we can see acceleration again. But all of these rising case numbers are spooking the consumer. And the consumer is taking this on their own, they are not waiting for their governor to shut down or rollback. When they see their area increasin...

Exists, goes. Meeting,he big fed take a look at the 10 year we are down to 58 basis points, going back with that handle. Earlier in march when the 10 year dipped below 50, a strategist said, i am no longer writing about the 10 year because it is nonsense at this point. I push this story forward to see what the fed has to say about this. Caroline lets push it forward to next week and get jonathans perspective. How are you looking at a week where we headed bloomberg . Next week, we get big earnings. Where are the areas of the market that are unloved that could be opportunities . Jonathan if you ...

Together. If you think the increased interest in europe over the last six weeks of so is off the back of the e. U. Recovery fund. Details are pretty good. It means to us that europe is maturing. It is looking a lot more sophisticated. To us, this is something that can run a little further. The market is getting ahead of itself. People are saying this would d to more this is because of the pandemic. Are we going to be back to square one . Or is this Real Progress . I would say it is a little bit of both. Ultimately, this is the first up towards all the things we have been asking that was put in...

India may miss growth targets as the virus cripples the outlook. Intel plunged after its new chip reduction process was delayed again. The company is under pressure as customers increasingly turn to rivals for chips. We are just getting pmi data out of australia crossing the bloomberg. The pmi actually rising to a record high in july. This is a preliminary number for services coming in at 58. 5. Manufacturing pmi also higher, 53. 4 from 51. 2. Composite at 57. 9. A big jump from the 52. 7 in the previous reading. That returnecting to some semblance of normality as part of australia exit the st...