Listen: Bloomberg, United States, Nathan Karen discussed on Bloomberg Daybreak
"Nathan Karen, lots going on this morning. We're following the latest reaction the yesterday's remarks from fed chair Powell and looking ahead to the highly anticipated meeting between President Trump, and she and Ueno Cyrus first though, breaking news out of Germany, prosecutors have descended on the headquarters of Deutsche Bank. Bloomberg's Matt Miller joins us live from Berlin. With the latest. Good morning. Matt good morning Nathan. And Karen prosecutor said in a statement that Deutsche Bank's premises including its headquarters in Frankfurt were being searched by one hundred and seventy of its staff as well as Frankfurt police Deutsche Bank confirmed that the police are investigating several German locations in relation to the Panama papers, money laundering, scandal. Two Bank employees aged fifty and forty six have been. Targeted as suspects in the case, according to prosecutors, so Deutsche Bank shares falling as much as four point seven percent on the Xetra Dax in Frankfurt today. Live in Berlin. I'm Matt Miller. Bloomberg daybreak bad. Thank you as we're leaders had to Buenos Aires for that group of twenty meeting. Chinese president Xi Jinping is pushing back against President Trump America, first agenda. Bloomberg's Tom MacKenzie reports. She in Spain. Again, saying that we are at a crossroads the global economy. Gotta choose globalization and free trade or protectionism and unilateralism anything if we choose the 'cause then you're going to see move barriers going up around the world. This was an opportunity for president Xi to once again, get on global stage and drive home. This message that China is supporting globalization, even if the reality is somewhat different and she touted China's links with Spain during a state visit where both countries committed to a global open balanced economy, President's XI and Trumper set to talk over dinner Saturday with the US president threatening additional tariffs unless a trade deal is struck. Bloomberg's Michael Mckee has more from Buenos Aires about a fifty fifty chance. Most people think that the two sides can reach a deal logically. It makes sense for them to do that. Because it doesn't help either countries economy to get into expanded trade work. However, there's difficulty in figuring out how each side backs down being why Mellon investment management says the? Trade war is bound to worsen will weaken China's currency past seven per dollar for the first time in a decade. Meanwhile, plant closures by General Motors has President Trump renewing his push for auto tariffs. Bloomberg's John Tucker joins us live with the details. Good morning. John. Karen in a pair of Twitter posts, President Trump as the prospect of slopping a twenty five percent tariff on imported cars, the president points to a long standing US tariff on imported pickup trucks that has helped the US base automakers dominate that market. He argues a similar import tax on cars would have prevented GM's move to close plants in the US twenty-five percent. Levy on imported light trucks was applied back in the nineteen sixties by president Johnson and has been a major contributor to US automaker dominance in the domestic pickup market. John Tucker, Bloomberg daybreak John. Thank you dovish tone from Jerome Powell boosted US stocks yesterday with traders seeing fewer rate hikes next year following the fed chairman's comments interest rates are still low by store. Standards, and they remain just below the range of estimates of that level that would be neutral for the economy. We also know that the economic effects of our gradual rate increases are uncertain and may take a year or more to be fully realized treasury yields are falling in the wake of Powell's remarks. The tenure yield briefly dipped below three percent for the first time since September. Well, a December rate hike is still likely traders are dialing back expectations for increases next year, Bloomberg opinion columnist Dan moss was at the economic club of New York for Powell's speech for speech. That was supposed to be about financial stability. Hey, just leaned in second paragraph, boom. Here we go. It was unmistakable signal. Same signal receipt. And traders will be listening for more signals today with six regional fed presidents speaking at an event in Boston be also get minutes from the central banks November meeting at two PM, Wall Street time or US stocks surged following Powell's remarks equities in Asia had a more response. Bloomberg's Juliet Sally has details from Singapore. Good morning. Juliet good morning Nathan and Karen Australian banks in Hong Kong develop is gonna base is investors. This J POWs more dovish commentary, but elsewhere the rally faded somewhat as markets instead the hand their attention away from the fed and to the g twenty meeting the three hundred closed down by one point three percent to three thousand one hundred thirty seven points, while Hong Kong's Hang Seng index by more than two hundred eighty points during the session in Singapore. I'm Juliet Sally, Bloomberg daybreak killing you, thank you oil trading below fifty dollars a barrel for the first time in more than a year. Russia's signaling middle urgency to commit to supply cuts while US crude stock. Biles continued to grow checking prices now west Texas intermediate down one point two percent on fifty nine cents at forty nine dollars seventy cents a barrel and straight ahead. We have the latest world and national news. This is Bloomberg. Thank you. Karen 507 on."