Bank Of England, U.S., Vinny Del Giudice discussed on Bloomberg Daybreak Europe


Morning where we are looking ahead to the non von payroll report the drops at 1230 Houston important now for the direction of the fed after the surprise decision by the Bank of England to hold interest rates steady In terms of the stock markets this morning small gains for European stocks up a tenth of 1% 3100 gains four tenths of 1% The pound though is softening again this morning we get a quarter of 1% against the dollar so one 34 66 so that shock decision from Andrew Bailey hits stirring In terms of the stock's breakdown interesting to see that energy and travel and leisure stocks are at the bottom of the heap in terms of declines for European benchmarks The other thing though that we are looking at is the short end in terms of bond yields which were hardest hit in the bond markets yesterday Investors now thinking about central banks whether they're really going to tighten monetary policy as quickly as expected In terms of the bond markets right now on the ten year U.S. benchmark yields trading at 1.519 So down by a basis point and oil also rallies 1.1% but still below $80 a barrel for WTI crude futures Okay Caroline now on to some of our top stories of the morning we start in the U.S. because it is jobs day Investors are eagerly awaiting the monthly employment report and economists are forecasting the best showing in three months with an October gain of about 450,000 jobs that is the expectation Bloomberg's Vinny del giudice reports Bloomberg economics these job growth picking up after two months of disappointment given the pandemic has been easing in many parts of U.S. and industries of gearing up Jobless claims meantime keep setting new pandemic lows and ATP payroll data signal growth Job openings have been running at record levels Then again Bloomberg economics says the labor market recovery could be restrained in part because many COVID-19 victims are convalescing and family members are staying at home to provide care If any Donald Julie's Bloomberg daybreak Europe And on the Bank of England it defied market expectations by keeping interest rates on hold yesterday Officials voted 7 to two to keep the benchmark rate at a record low 0.1% After that decision traders slashed the bets and also send the pound tumbling Now The White House says OPEC and its allies are putting the global economy at risk after the cartel rejected President Biden's pleas to hike production by more than planned OPEC plus stuck to its original plan to raise supplied by 400,000 barrels a day in December citing pressure on oil demand from the coronavirus the U.S. had asked for a hike of at least double that to alleviate high crude prices And just in earnings news this morning British Airways parent company IAG posted a 485 million Euro loss for its summer quarter as pandemic restrictions and the partial closure of the transatlantic market continued to hold back The travel recovery IHEs operating loss however that came in ahead of consensus forecast for a loss of 513 €1 million so just in terms of the share price of IAG at this morning trading in London down 3.1% Okay now back to our coverage of climate masses up in Glasgow and it's to our coverage of cop 26 of course The first week of the climate conference is coming to an end before entering a crucial state next week All major world leaders and companies have reiterated their commitments to combat climate change but concerns remain about the implementation Our reporter on the ground Maria taddeo spoke to Ikea's CEO jesper brodin She began by asking how the push for sustainability can be an opportunity for his business You know we know from our research across 30 markets that's 70% of our customers are deeply concerned about climate change But only 6% now how they can contribute and actually what we are doing as well And interesting enough only 3% are prepared to pay for it So you can say one of the commitments that we have made in our case of course to do what's right But also to support our customers in finding and providing solutions to be part of the change that we.

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