Bloomberg, David Finnerty, Thomas Penny discussed on Financial Issues
Higher by eleven point three percent in the first quarter cash and cash equivalents three hundred ninety point seven million pounds. So an interesting couple of lines here from Accardo which year to date, of course, is higher by forty five percent more than forty five percent. So we'll see the share price reaction at the open in less than an hour's time. Let's delve deeper into our top stories, and every time Theresa May thinks that she sees a way out of the Brexit quoque. Maya something happens to derail her plants the latest spanner in the works was delivered by house. Hausa common speaker, John backhoe loobox. Thomas penny has the details. He told me that if she wants to ask lawmakers device. It again on how Brexit deal you will have to be substantially changed from the agreement. They rejected last week with time. Running out ask any further concessions is increasingly likely that may will have to go to Thursday's EU council us for a long delay. Meaning it might be another year before Britain leaves the block the anger. Team is palpable in London. Thomas penny. Bloomberg daybreak Europe. Okay. Let's cross over to Singapore to talk a little bit more about where this leaves sterling David finicky from the markets lawn team joins us now, David it seems that Brexit is on hold at least in the short term. I suppose the question is whether good EKO data a little bit later. We're getting jobs fake is my to give a boost to to stunning. Yeah. I think it needs. An you catalyst separate Brexit pacey being on hold. And I think the market wants to get ahead of itself. Just given all the twists and turns that the no deal is still on the table until there's a formal extension. So I don't think once the study survey too much ahead of that. But what it could to oversee is the data comes out stronger today the data then that's positive despite at by a flash data tomorrow fairly quickly feet into Bank England decision to this week on Thursday. And obviously if they start. Sound slightly more hawkish with everything that's going on. And obviously that would be positive. Surly or take out at nine thirty AM here in London. Let's also talk a little bit about Ozzy assets. David because we've seen both the AUSSIE dollar as well as the Australian ten year yields soften on the back of Rb minutes that showed that centreback is over in Australia or in. No hurry to become dovish said the minister indicated that quite patient quotas sort of neutral between where to go next hiking or lowering was the market Jeff unease expecting rate cuts, depending on who you speak to some banks thinking like to cuts this year some of the same one. So there's a big discrepancy between the two, and I'll be as big a bastion of strength, shall we say it's really about the labor market, which sent as conforming very, well, even though other economic data says consumer confidence business confidence GDP haven't. So we've got all the payroll data out this Thursday if that comes in strong than they can maintain its however. If it comes in weaken expected an employment rate starts rising. And I think the food for folks, we say, and I think the market we thinking it's time to come out the way of thinking. All right. Thanks so much. David Finnerty for real time market, commentary and analysis. Check out markets live. That's M L I V on your Bloomberg terminal. We are going to stay with the central banking theme. It's day one or the feds two day meeting. This chief stay the central Bank is predicted to keep rates steady on Wednesday and potentially change its productions to show it set hiking once or not at all in one thousand nine hundred eighteen however, the former New York fed president William Dudley says he thinks tightening could be back on the table later this year, if the carry picks up speed again as I expect will happen and inflation starts to drift higher than the federal will be back in play. Maybe as early as the second half of this year. Darvish tell from the world's central banks has helped sputter Roddy inequities from the US to emerging markets and economists expect the fed to reinforce that stones tomorrow. Meanwhile, the US agriculture secretary says China could triplets purchases of American farm goods as part of a trade deal between the country's Sonny. Perdue told Bloomberg that the latest trade talks are very dynamic. But that there are still concerns over how to make commit Smits enforceable. He said all agreements must be fixed. And that any tariffs will be finding is one tool for enforcement. And hopefully, the Chinese will understand that it's a matter. It's like really complying with the law if you comply with your agreement, you don't have anything to worry about if you don't consequences, and that needs to be that that was the US agriculture secretary Sony, Prodi's speaking exclusively to Bloomberg when it comes to other commodities Libya's, oil Minister Mustafa. Sonallah says that the country has increased oil output by a third in the past three weeks. Speaking exclusively to Bloomberg's Sonallah said, it's a biggest oilfield, the Sharara in southern Libya is currently pumping two hundred sixty thousand barrels per day, our production, and.