Scenarios. Nejra unicredit shares close emerges as theo top contender for the top job at hsbc. Nejra welcome to bloomberg daybreak europe. Overnight, we learned allianz will buy back 1. 6 billion in shares. Allred headline is saying youngs sees operating profits of 11. 512. 5 million euros. The estimate was 12. 4, so that is in line with what was expected. Revenue is a beat on that number. Areyear operating profits 11. 86, the estimate was 11. 7. We will be looking out for a potential positive rebound in the solvency ratio, which is something that showed weakness in recent quarters. Update already had the on the buyback program. We learned the Program Starts next month and runs through december. This is part of returning capital to shareholders because the ceo was unable to pull off big deals he was looking for. That is something we will discuss with the cfo later in the show. Dont miss that interview at 6 30 u. K. Time. We saw records in european stocks on wednesday, but since then, i
Concern. In an exclusive interview, fetal ceo says things will get worse before they get better. The expectations of how long the virus might last and its longlasting impact, people have probably been reducing their worstcase scenarios over that period of time. Is said toredit ceo emerge as a leading contender for the top job at hsbc. Could another European Banking head be about to jump ship . Lets take a look just under an hour away from the start of cac equity trading at futures this morning. Down across the board, no matter where you look. Red arrows there. They are pretty solid. 0. 5 down on deck futures. 0. 5 drop. S, also almostfutures down 0. 66 . Gmm. A look at the that will show you quite clearly that we had big losses in equities and asia overnight. We continue to see some of those equity indices fall. Hsi. Kong down 1 on the if you look at the bonds, if we go to the next column you will see that investors are buying bonds and that really weighs on the yield. The trend is ris
Lifeline. We will hear from the Morgan Stanley ceo on the big 13 billion acquisition of e trade. Paul. Paul thanks, emily. Lets check on how futures are looking in asia. Looking like a much quieter day than yesterday. Sydney futures looking fairly flat right now. U. K. Futures looking weaker by 0. 4 . A bit of a move down in costly futures. We saw u. S. Markets ending modestly low. Concerns about earnings downgrade. More on that later. New zealand also trading right now. Currently flat. Emily thanks. Lets get a check of where the u. S. Markets closed today. Taylor riggs is in the newsroom. What were the highlights . Taylor sort of a risk off day. Really 500 Big Companies leading the losses. Bonds rallying five basis points after the crucial 1. 51, and the yield curve is inverted by the most since october, six basis points. Take a look at the chart in my terminal that put the selloff into perspective. The chip performance relative to s p 500 performance is still near an 18 year high. On
Previous lows of 1. 54 . A lot lower. The tail is lower than this. Another 25d get basis points. Quite heading toward 1. 5 . 1 . 1 is not impossible. To zero. E way down there is no lower bounds especially if we end up in a recession. If the economy is weak and the leading indicators point to that scenario. We and the rest of the world will go own long government bonds. Lisa on bears are dead. Guests. Me now, our lets start with you. Do you agree that yields, there is no lower bound, but the basement be the ceiling or whatever it is . The data, seriously the constellation of data in terms of inflation growth due point in that direction. There is going to be a limit in terms of how crowded the position will get. We are getting to that stage, the next 25 basis points or so, most are quite long duration. It will be limited in terms of how low they can go. The conversation around negative nominal yields is premature. Kevin you would have to give up on the fact that the u. S. Economy has no
we start with the news that the australian comedian barry humphries best known for his character dame edna everage has died at the age of 89. he d been receiving treatment at a hospital in sydney following hip surgery. barry humphries was a leading figure on the british comedy scene with his many satirical characters. his family said he never lost his brilliant mind and unique wit. our arts correspondent, david silitto, looks back at his life. dame edna everage! hello, possums! dame edna always said she was born with a priceless gift. the ability to laugh at the misfortunes of others. about weight, you could do with losing a little, success has gone to yourjowls, russell hardy. oh, you re being very, very cruel! for more than 50 years, she took pleasure in saying the unsayable. i ve had a little work done. have you? but not quite as much as some. laughter but the thing is, you are still recognisable. she was so familiar, it was easy to forget that behind the glasses and f