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Tom good morning everybody. Bloomberg surveillance. An extraordinary friday getting ready for october as well. Fox, mr. Ross drops a bombshell. He will take tiktok away from my children. I dont believe it, including updates. Aboutan shall i be clear what is going to happen . As of monday you wont be able to download the app. If you download the app, you wont get the updates as of monday. As of november 12, if we dont have a deal, that is when the shutdown comes into force. In plain english, that seems to be the story. Jonathan you have to tom you have to believe the chinese will respond to this whether that is the china vehicle of tiktok or the government in beijing as well. An ipo withsider ystrom of instagram leading the company. To the various point, oracle shares down in trading. This is a transaction, we dont know how to identify it. There is very little visibility. Tom the key phrase is hardline. Communication with the americans is clear. How does china react to hardline . Jonath ....
Thise talking about dispute between america and china over intellectual property theft, which means that the u. S. Gave very little notice to china when closing its consulate and that is analogous to this deteriorating relationship that seems to be deteriorating fast. Tom flareup absolutely captures the moment. Now with a news update our first word news from new york city. Discussing, china calls it an unprecedented escalation. The u. S. Has ordered the chinese consulate in houston to be state, according to the department it is to protect American Intellectual property and americas private information. Houston firefighters went to the consulate after reports documents were being burnt in outside containers. President trump reboots coronavirus briefings with a shift in tone and a warning. Theas more reserved than in past and encouraged americans to wear masks avoid risky behavior. The president promised that the virus will b ....
These are your markets. A bit of a move sideways for the europe stoxx 600. Mix the data across the world and mixed corporate earnings. If you look at the banking sector, it is one of the biggest gainers. We have a german manufacturing orders and Euro Area Services pmi for the month of october. Better than expected. Anything above 50 means expansion and we were expecting 51. 8. So look out for any movement on eurodollar and the u. S. 10 year yield. Coming up, we speak to the president of south africa. Come alk about s escom at a possible ratings downgrade. But first, lets get to bloomberg first word news. We begin with the impeachment inquiry for President Trump. The actions of Rudy Giuliani deeply unsettled to ukraine, outlining a quid quo pro. This is in exchange for investigating joe bidens son. Julienior ambassado ....
End of the curve. I dont think it is that problematic, but it is telling us there are different players in different parts of the yield curve. It is not just the shape of the u. S. Curve. It is the differentials with other curves as well. Thats a testament to the influence of other Central Banks besides the fed. The rest of the world is still printing money. Ecb, bank of japan. The ecb promised they will do that until september of next year. It is hurting duration and credit risks. Those two things ultimately end up in the u. S. , and that is a very important driver. One of the weirdest things as about the curve flattening is we are doing it against the backdrop of the fed and potential tax cuts next year. Youve got of billions of extra hundreds supply coming into the u. S. Treasury market next year. My guess is it will be much more difficult for the curve to flip continue to flatten in the next year. If i dont get some pickup in i ....
Gains. Markets and euros doing nothing, even with some german confidence numbers. In the bond market, treasury yields up by three basis points. A steeper yield curve in todays session, as wall street gets back to work. Lets get you some headlines outside the Business World. Hears taylor riggs. And russia have agreed on a former to extend Oil Production cuts, according to people involved. The agreement is set to extend cuts to the end of next year. Balkinglin has been anthonys foreign extension. The current deal doesnt expire until the end of march. The Holiday Shopping season is officially underway, some stores in the u. S. Got a jump on black friday sales. Brickandmortar chains are having positive optimism about their prospects. Theres a signal the former Trump Natio ....