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Four days of losses is about to become five. Are down 7. 5 over the previous four days. Cross assets, we look like this. A bid into the bond market briefly in treasuries. It did not stick. It was a treasury market selloff. This morning, it is about yen strength. Dollaryen coming down on 0. 3 . Again. Rude is down 0. 9 mark wheret is that you have these massive producing countries like russia and saudi starting to worry. These are very hard prices to deal with when you try to balance your books. It all comes back to demand. Everything is about demand right now. When you have france and germany going into lockdown, that does not bode well. Euroyen is striking me this morning. I feel that for the first time it is acting like a haven. It is her membrane what it is supposed to do. Jonathan a bit of yen strength. Chancellor merkel giving a wakeup call to her fellow eu leaders. They failed to act quickly stop the pandemic. For more, our western europe managing editor joins us. Walk us through ....
That are against sanctions against iran. And leaked documents outlining 2 trillion worth of transactions and a failure by banks to catch suspicious funds. Its is one bank named and shares fall to a 25 year low. We will come back to hsbc in a moment. A very good moment. 6 00 a. M. Where you are. I am. One 9 00 a. M. Where china and the yuan and the e. M. That whole narrative plays into markets. As you look into the fx story. China will grow and it will be the only g20 country to grow. If youre waking up in the city of london today, you are questioning whether or not we will see another lock down. Radioyor talking to lbc saying he will potentially talk about fresh restrictions today and we have the u. K. Chief medical officer saying the u. K. Is at a critical point. A balancing act for the government. What do you do with restrictions while maintaining the economy . Indy. Indeed. Setting the bank of england on a different path for a status quo mission. Bifurcatione is a and i do like that ....
That is pleasing most investors. Isnt stocks soaring. Sent stocks soaring. We are certain to be speaking yields. The10 year in u. S. Surface we are rotating towards a more defensive bias. The food and beverage sector is the outperforming sector. These are attaching a bid once again. The car sector is down today. Those sectors have done really, really well over the last few sessions, as we have seen the risk on rally really get into gear. The german tenyear, a potential bid with two basis points, as you can see, on the move. We are down, that means bond prices are moving up. What we are seeing today is a move against some of the emergingmarket currencies. The ruble is on offer, the South African currency is on offer. You are seeing that around the world. These look a little flat, but actually i think it is probably a risk off five into the markets. Charles evans says that the u. S. Economy is in a good place. In an interview with to ....
For a conversation with stefon engels. Welcome to daybreak europe. From unicredit, First Quarter net comes in at 1. 1 billion euros. 995. 3 million. S that is a beat. It is confirming its target for 2019, the target for revenue it is confirming it of course, what we heard earlier this week was that it was selling its entire stake. That is a reminder of that. In terms of the update today, the main number to draw your eye to his the Third Quarter net, which is a beat. Lehmans numbers coming in as well. Fullyear adjusted, industrial businesses, 9 billion euros. The estimate was 8. 61. That is a beat, at least on that number so far. Looking through some of the other headlines, decline in market volumes for short cycle businesses. This was a problem last quarter as well so it seems this issue is still remaining. Year 2020 of 6. 3 to seven euros, excluding charges. The outlook will b ....
But the bond proxies are back and they are big, the car sector an similar stories like that are selling off. German tenyear yields catching more of a bid. Something i want to highlight this afternoon is we are seeing emergingmarket currencies being sold off, including the russian ruble and the south korean south american rant. South african rand. For a bloomberg scoop, sources saying Chinese Stateowned entities are in talks to invest 5 billion to 10 billion in aramcos ipo. This comes as saudi arabia seeks commitment from friendlier governments to shore up the sale. We are joined now by our bloomberg reporter. How much is this impacting u. S. Markets and analyst today who might be interested in the ongoing deal . We knew this was going to get attention from a lot of the big sovereign wealth funds, they were going to be the folks to put their money behind it. This is a huge deal for china. Most people want to wait to see what kind of ....