Is going to watch. I am not going to watch. This is much more exciting. Tomorrow, they get three constitutional lawyers, and we get one. Its not going to matter. And they take three, and they give us one. Who ever heard of anything like that . But i want them to testify, but i want them to testify in the senate, where they were get thats where they will get a fair trial. Where they will get a fair trial. What do you want to learn from adam schiff . Pres. Trump i dont want anything from adam schiff. I think he is a maniac. He is a deranged human being. I think he has a very sick man, and he lies. Adam schiff made up my conversation with the president of ukraine. One of the reasons people keep talking about is that what they saw talking about is that is what they saw. He had a beautiful transcription of the conversation, but a lot of people didnt read that. A friend of mine called up, a top person in new york, a great trend of mine, very successful. I didnt like what was said. Wait a min
Was priced in. The story of the day is on the fx markets. You can see the dollar index moving to the upside. Most of that is down to the weakness of sterling. It does look as though volatility is creeping up and spiking further and further. That is implied volatility in the white line. Sixmonth in turquoise. Three months from now, dont forget that is when we have the punitive date of britain leaving the european union. 1. 21 at the moment, some suggesting we could go to 1. 18. Are we pricing in a hard brexit already . Volatility coming up. We are at levels we have not seen since february, perhaps not pricing in a hard brexit when we had the original data for a punitive release of britain from the eu. Lets find out what else is out there. Lets get out to new york and join su keenan for the first word news. Su lets start with the trade talks, which resume in september after the meeting in shanghai ended with no progress. The two sides discussed purposes of forced technology transfer, i.
The rally created a little bit of a left in european stocks. The dollar falling, weakening after janet yellen warned of rate increases. Of course, i am looking at the pound on the back of the budget and oil heading for its highest close in two years on extending output puts. We hvave a great show for you today on budget day. That conversation at 10 30 a. M. London time with normon l amot. Of a dodging the risk snap election. While merkel has publicly stated she is open to another vote, the president is to renew the partnership. Zimbabwe is waking up to the post mugabe era. There were to be let there scenes lastnt night. What will take over as the leader. A u. S. Navy aircraft carrying 11 crew and passengers has crashed into the sea. The seventh fleet was on route to the uss Ronald Reagan. They are conducting search and rescue operations. Because of the crash is currently not known. The outgoing chair of the Federal Reserve has cautioned that raising Interest Rates too quickly with infl
A lot of these stocks are struggling. Ofare seeing a little bit trading volumes. You can see ibex by far the biggest loser. Almost down 1 . The tax cut in the u. S. Has been priced in. They now want to focus on 2018. Volatilityin so much heading down from 50 . He had some just 15 . We had 15 . We had some good stories. Coming up on the program, we are plenty more of catalonia. Garcia. Joseph that is coming up. We have a brexit show looking at the 2017 negotiations and little willater, jason furman talk. We will talk about the shutdown and whether that can be avoided. Lets get to the bloomberg first word news with Sebastian Salek. Cooks the u. S. Senate has given approval for certain extending u. S. Senate has given extension. R such an the final measure will maintain current levels of spending through january. It will provide 4. 5 billion in emergency funding. China has signaled it is ready to back another round of sanctions to north korea. The Un Security Council to set the vote today
Overnight in asia, the nikkei was closed for a bank holiday. If you look at the hang seng and shanghai, both with green arrows shanghai was up by 0. 2 . The hang seng up by 0. 10 looking at europe this morning, a bit of a mixed picture ftse slightly negative you can see both the cac and the dax are trading higher up by onethird of a percentage point each finally look at treasury yields. And yield weve been watching so closely on the tenyear, this morning sitting at 2. 451 . A couple things we are watching watching a lot of things airlines are celebrating the gop tax plan southwest and American Airlines both announcing they will give 1,000 bonuses to employees following that tax overhaul. Southwest specifically announced it will use the tax savings to buy new planes the company saying it intends to reinvest in the business, reward Share Holders and increase its investment with boeing to support future Growth Opportunities. The two Major Airlines are the latest businesses to pay bonuses