14 Burst results for "Eleanor Cray"

"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:51 min | 5 d ago

"eleanor cray" Discussed on Bloomberg Radio New York

"Well, some movement to ease Hong Kong travel quarantine. Baxter's on this story and has global news from the 9 60 newsroom in San Francisco at the Yeah. And you guys are there, Brian, There's no definitive data on this is there I mean, they're putting plans together and we'll still take the movement. Yeah. Okay, I guess anything at this point that the government has plans to shorten hotel quarantine for fully vaccinated travelers from most places to seven days. Bloomberg's Steven Angle here hearing from sources that the Hong Kong government has now after hearing all kinds of complaints from business community from the society as a whole. That the restrictions are too strict that they have agreed again. It's not public yet to relax or shorten the hotel required hotel quarantines for fully vaccinated travelers from many places to just seven days. Currently, it's as high as 21 days for most places again, you would have to have an anti body test at the airport. There still trialing those Yeah. Yeah, and sources of Bloomberg's say trials are ongoing for those tests, which provide information on past infection or vaccination. They say no announcement of of when, as we say it will take place. US. White House says today it is committed to dialogue with China's President Xi Jinping, and says talks will be planned soon. Today. President Joe Biden signed the bill to make Juneteenth National US holiday. Great Nations don't ignore the most painful moments they embraced them. Great nations. Don't walk away. We come to terms. The mistakes we made. And remembering those moments we began to heal. And grow stronger, and Biden also championed the bipartisan path. The bill took especially pleased that we showed the nation that we can come together as Democrats and Republicans Commemorating This day with an overwhelming bipartisan support of the Congress. Hope this is the beginning of a change and the way we deal with one so it looks as if tomorrow. Federal workers have the day off. No official announcement on that the SEC has announced it will be closed officially in observance. Same for the Fed JP Morgan and UPS banks are adding it to as a floating holiday for the time being. China has hailed the arrest of Hong Kong journalists is protecting citizens from illegal activities, and Beijing says Let it serve as a warning to any journalist to write articles a challenge Beijing It says freedom of the press is not a shield for illegal activities. New study of Imperial College out of Imperial College London shows what it calls exponential growth of coronavirus and variants, especially in the young. And along that line. The effort in the U. S. To get Children vaccinated is ramping up. CDC Director Rochelle will answer over 19 has resulted in more than 320 deaths in Children under age 18 in the United States during this pandemic and hospitalization rates among adolescents who got covid 19 were 2.5 to 3 times higher. And they are during a typical influenza season. We, Lansky says Children must be vaccinated. Now U. S. Supreme Court has upheld the Affordable Care Act. Senate Majority Leader Chuck Schumer. Spinning some poetry here saying over 10, years of battles, the affordable care act has won. The Supreme Court has just ruled the area is here to stay. Hmm. What a rhyme. Schumer is worth a dime, Schumer says. The job now is to make it bigger and better in San Francisco. I'm Ed Baxter. This is Bloomberg. Brian. Edward. Thank you very much. It's now eight minutes past the hour time for our next guest, Eleanor Cray, strategist at Saxo Capital Markets. Eleanor has the Fed taken back control over the inflation argument. And if so, what are the implications? Look, I mean, certainly you know, the said, reacting to inflation. I guess the market is saying and it left overshoot at this stage. Um, you know, I think major reaction or kind of shock aside, yields are still very low relative to where the C P A. Is. Because I guess the narrative was the Fed would continue to look through this, So I mean, I don't think you can try to have it both ways. I think it's pretty clear that inflation pressures are going to remain elevated three summer and you know, the bond market is going to be very sensitive to any data that shows that inflation may not be so transitory at this stage will continue to see these Apply pressure building off and you know, probably against really aggressive pent up demands rebounds that we have a pandemic Cities team has had into the economy. Saying things like industry sales ratios at 30 year lows. I don't think um, you know now is the time to be a gift betting against reflation in that environment. So on that basis, I guess we'd be more inclined to kind of fake The Ozo dyke moves didn't have that performance overnight. Really, really putting that right effectivity on full display? Um, but you know, it works the other way through. Low free cash flow yield in pockets of math. That means that interest rate sensitivity is quite large. And certainly as we think that you will review their client, Um You know, we see this much more as a kind of positioning clean out rather than a new trend, I guess. So the immediate market reaction was that these inflation hedges, which were big winners are now losers. Write short, dollar long, steep owners long commodities. Do you think that's that's coming to an end? We could We still see more of this? How much further? Could this go? No. I mean, we kind of declined to, I guess fade those moves. You know, I think a lot of it has to do with the setup that we had coming into the event. And there was, I guess, a degree of complacency that the Fed reason surprising the hawkish side, a lot of one sided positioning, and we're just really getting a shake out of that right now. I think you know, it's clear that global price pressures remain that Along with the continued underlying economic momentum. I think that is going to continue to be supportive for domestic people and value portions of the market. After this kind of clean out, we would expect those reflection trades, I guess to be rebooted somewhat. Yeah, I think you know this has been happening. Actually, over the past month or so. These flows into growth and away from value, not exactly suggesting a growth scare but a growth slowdown from maybe the way we had assumed it would be.

Eleanor Cray Ed Baxter Brian Congress Saxo Capital Markets Affordable Care Act Steven Angle 21 days UPS United States Biden Edward White House San Francisco Fed Today Lansky 2.5 U. S. Supreme Court SEC
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:20 min | 10 months ago

"eleanor cray" Discussed on Bloomberg Radio New York

"Speaking as a private citizen. Members of the president's administration are allowed to speak publicly if they're doing so. In private manner there speaking as a private citizen, so it's likely he will be introduced as quote unquote, the Honorable Mike Pompeo, as opposed to the secretary. Of state on Wisconsin Governor Tony Evers has declared a state of emergency after businesses were vandalized Dozens of buildings set on fire this in the wake of the shooting of a black man being shot multiple times in the back. The governor says that the cycle of systemic racism and injustice cannot be tolerated. But also, he says, neither can this path of damage and destruction. In San Francisco. I met Baxter. This is Bloomberg. Thank you. It. Our guest for the half hour is Eleanor crazy market strategist at Saxo Capital Markets joining us from Sydney. Thanks so much for being with us, Eleanor. It's always a pleasure. I guess we've got to talk about what we're seeing in price action here in the states with the records today in the S and P and the NASDAQ, although, to be fair, I mean breath continues to be Very, very narrow. I'm wondering whether that concerns you at all. Man. Look, I think be declining breast is more or less a representation of the fact that the low growth trade is the technology sector because investors continue to I see this sector a zoo a relative opportunity based on the free cash flow yield. Any situation. The predictable revenue streams on DH is take, for example, the cost on a cash low yield on the 10 year Treasury yield at around of the basis points that continues to be very attractive. On relative yields elsewhere, and it's really this sort of secular sanction or their yield trade. I think when you see the narrowing breasts in the technology sector, continuing to be better speed up, and it's quite a contrast, I guess to the session that we saw on the previous night. What we had. I guess This is good news on the plasma treatment, which has been wound back and that's when we really for that sort of sectoral rotation and breasts, beginning to increase. For me? Yes, Certainly The breasts raised concerns in terms of I guess the capacity for this rally values continue because I mean, you really want to see that holding out on pectoral participation. To really maintain the health in this valley. But I think when you look at the current environment that we in which is a low rate environment can continue to be Lee's technology and growth. Stocks speed up under that free cash flow installation. No. And speaking of the divergence as well, You're talking a lot about this kind of bipolar world. We're living in where you've got these hires on markets, but a very different story in economies. Yes, but me, and I mean, I think you want to have to look, I guess that the divergent picture that we have painted by the NASDAQ's at record highs on you could really see that in the consumer sentiment data overnight to be look, a small business closures at small business revenues as well is beginning to get to travel over again, and I mean here in Australia as well. The payroll ST yesterday, really reflecting board with session re dynamics throughout the recovery, Not just the impact off those fresh lot sounds in Victoria on. I think that it is really going to be a problem for I guess the trajectory off the Masons demands recovery. We've certainly seen a strong bounce back as we've had lockdowns listed from this sort of pent up demand scenario, but I think the really shooting is where we laughed. On. It's looking like it's likely to be in a much lower level. Eleanor when we continue the conversation, let's talk a little bit about China relations not only between the U. S and China, but Australia, China as well. Eleanor Cray, Our guest from Saxo Capital Markets in Sydney will take a look at market action and some global news coming up. This is Bloomberg. Kaiser is off the chain. Everything is in one place for you. Your X ray will be down there..

Eleanor Cray Saxo Capital Markets Bloomberg Sydney China Mike Pompeo Tony Evers Lee Wisconsin president Australia San Francisco secretary Baxter Kaiser Victoria
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:14 min | 1 year ago

"eleanor cray" Discussed on Bloomberg Radio New York

"The edge of will be able to look after him safely a few hours earlier I was thinking what if the same always happens to me there's nobody here that I can reserve yes to help he says he doesn't regret what he did although we understand others may disagree we've been reporting that what China's Hong Kong ministry is saying about new security laws are not affecting Hong Kong autonomy I heard Bryan said but commissioner chez Fong says there is no need to panic but then he had a message do not be a rumor monger yourself join the anti China forces in stigmatizing and demonizing the legislation he says only people be affected now are terrorists as we reported yesterday would happen Japan's prime minister Shinzo Ave has lifted the emergency orders for the most part opening the country the WHO's put a pause on research into the drug hydroxy Clark when and how it affects those with cold in nineteen Dr Tadros Cabrera says says it needs to review the volume of evidence that patients taking it have a higher chance of developing potentially fatal condition has agreed to review a comprehensive analysis and critical appraisal of all evidence available globally now this is a drug that been so highly touted by president Donald Trump meanwhile Mr trump is threatening to pull the GOP national convention out of North Carolina unless the governor can guarantee they'll be no restrictions on filling arena the governor says public health has to be the determining factor in that people from all over the country we flying in and gather in close spaces on that subject New York governor Andrew Cuomo says he sure wants to re open but has a message to those folks out this more today if they're not smart the number will go up and then we'll have to slow down the re opening which is what you're seeing all across the country by the way caller says he'll not allowing to surge with more deaths former vice president Joe Biden made his first public appearance in over two months wearing a mask he laid a wreath at the veterans Memorial Park in Delaware as he walked back to the car he addressed the men and women in uniform servers through mask thank you for your service in San Francisco I'm at Baxter art Ryan all right is thank you very much let's get to our first guest on the show today Eleanor crazy Australian market strategist at Saxo markets to is actually with this to look more broadly at global markets hello thank you you might have heard me tease this up investors are embracing something yesterday perfect excuse to sell with the actions from between the US and China it could be the re opening of the con amazing he could be the bending of the inflate inflection or the infection curve because that's something that investors definitely are bracing or could be this wall of stimulus but all those ideas have been around for a while and I know this was a little counter to your your point you're you're standing or your position on this but could it be that it's the more concerted pushback approach to China and maybe Hong Kong was the catalyst in terms of driving equity markets hi I'm well you know the the the notion of if it's just the U. S. against China as we saw during the trade war he was detrimental to markets but now you've got a lot of countries around the world really standing up to China and maybe that makes a difference yeah I mean it's it's an interesting benefits for but I think right now the the more constraining trying to follow as it relates to the mounting US China tensions on the beat in terms of even if we are happy optimistic recovery the prices the market at the moment how does the mounting tensions between US and China play into that how does that play into why train crashes and actually holding back capital expenditure and now also has the potential to I get strange little cover it sounded really I think you're right equities and risky assets are sweeping the five electronic engine I'm really focusing on on there could be political the drivers that need seen continuing to push markets higher sure it is not our job really to try to get out of analysts what do you think that you know we should be a lot lower because of over valuation we we trying to get out why something is happening so I know it's perplexing that markets are rallying so there has to be a reason so that's why I sort of presented in that way but I suppose most people would say it's really opening up economies yeah of course but I think you can you can add on the fact well I think we have to be some right and and a lot of optimism and I mean maybe signing pro football we're in the midst of a health crisis people want to focus on the optimistic side of things but we do also have abundant liquidity throughout financial markets as well that the promise of unwavering central banks before and the pledge to do more it is very I think you also have a while driving price action hired to speculative traders that are coming in and being driven out with spectrum by the fact that you've got a laughable tentative and be expectation now that rates are going to remain low for a very very expensive and I think in in that paradigm where you do have that big action driving market and then made the ninety five to be outside whatever your fundamental view eight but I think that the point that we make use yes there's a lot of he's been meeting with pricing but there's also a lot of uncertainty that we have been saying all potentially what lasting effect and then we will have on non human behavior thank you for all next on the line and I think yeah that's what that's why I said I knew that you felt the markets were complacent so that that's kind of why I said you push back against my argument but let's get Paul Allen into the mix sees he's with me on the program this this hour and he'll be he'll be along with this so far the second part of our discussion we chatted with Eleanor Cray Australian market strategist sexual markets and this is number for the Jewish communal you.

"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:23 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"Students is called for protesters to surround the government's headquarters in tomorrow and initiate civil disobedience of officials failed to respond to their demands by five o'clock this afternoon. Hong Kong US, special Representative for Ron test. Find a congress today that every expert, agrees, Iran is responsible for the attacks on the tankers outside the straight of our mos- US house has voted to repeal the two thousand one authorisation for the use of military force us for Afghanistan, Democrats, worry, the president would use it to go to war with Iran New Zealand is open a six month firearms buyback amnesty in a bid to rid the country of some automatic weapons, China and Russia, have blocked the UN Security Council committee monitoring sang. Actions against North Korea this as China's president Xi Jinping visits North Korea today, and the US is told India, it is weighing caps on H one B visas in order to deter global data localization rules sources to Reuters saying ten to fifteen percent of the annual quota, global news twenty four hours a day on Aaron a tick tock on Twitter, power by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. In San Francisco, I'm Ed Baxter. This is Bloomberg, Doug. All right. Let's get back to our conversation with Eleanor Cray. She's a strategist for the Australian market at sex capital on the line from Sydney. We can talk a little bit about the macro picture in a moment. Continue our conversation. But I want to get your, your take on what's happening the price action in gold here. We are at the highest level since about twenty thirteen. The spot price is just around thirteen seventy eight or so for Western Australia. What is this pickup in the? Price of gold main for the economy. I want to send me support him. And I think we've gold at the moment, the real story is that, while we've got real real heading heading low inflation and nominal rights up fully at supportive environment to gold at the moment. I think it's always fix it. At the action in the pet. You think power of global currency as well driving on the hot asset? And we thought this uncertainty deeming it lodge a London political when it comes to try to China, but as well. Attention. He says, well, so that that's going to remain a very supportive environment football. Right. So back to the macro picture, the Doug just mentioned, well, Australian equities all-time highs. What are they actually discounting? Well, I think the strategy and equities at the moment, I it's really a shoe big hit from the ambi- thoughts, governor low signaling that he's ready to cut interest rates again. We also had some significant developments on the communication from the seat where they signaled, that they now think that a ni- ru is sitting around six point five percent pregnancy was around five percents remains Madan employment at the moment remaining at five hundred percent among way to go before unemployment adults enough to be to me. Liking pressures throughout the economy and keeping saw in the night, statement of monetary policy. The predictions unemployment at five percents taking upon to rate types, and now to see unemployment heading potentially lower than full point five percents before we seem license into cups. I mean that could mean three full right? Cots on their way. So I think not certainly playing into a straight inequities at the moment and why we really have the Geneva sexy hundred. You're talking a moment ago. Eleanor about the kind of the interest rate differential in the impact on local currencies. I mean we're looking at a much stronger yen right now and a stronger AUSSIE dollar against the greenback. Is this welcome news? Or would you like to see the continued weakness in the Ozzy? Well, I think the strength and you could be somewhat transitory and anyone long before advance friend, Bing straighten delivered means. Got to be an environment where we have three full night cuts coming and certainly for the they have tasted that the exchange right straight into the weekend. Australian a lot is a policy, but that they really want to maintain. So I think that, that's, that's another reason why we could see the really ticketed, the senior discussing cycling, why we could see things they potentially Fulbright Todd. He's easy to see the fed moving writes in, in July. It's ten bucks. I guess pressure on that policy of the Ave and it so going back and they have to continue moving. Right. So the adages don't fight to fed, can read don't fight central banks. Is it just equities like liquidate so just stay long? Well, I think the now at the moment he sent me going have she behaved hit from this of easing monetary policy. But I think that being said you walk. He wants to keep six equity, very comfortable in holding cash and fixing from the moment in this environment whilst we have them sitting on.

Eleanor Cray Fulbright Todd China Doug Hong Kong US North Korea president Iran US San Francisco UN Security Council Xi Jinping congress Afghanistan Reuters Bloomberg Twitter Ed Baxter Ron test Representative
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:39 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"Looking ahead. He says there is lots of work that needs to be done. I hope you all understand why. Meanwhile, the Hong Kong Federation of students has called for protesters to surround the government's headquarters in tomorrow and initiate civil disobedience officials failed to respond to their demands today before five o'clock this afternoon and the governments decided not to resume the second reading of the proposed national anthem LA until after ledge goes summer break US laying out what negotiations need to look like to ease tensions with Iran. US special Representative for Ron Brian hooked testifying before the house. Foreign affairs committee today says there are four key ingredients. It's nuclear program. It's. Ballistic missile development, and proliferation. It's lethal support and financial support to terrorist groups and proxies and it's arbitrary detention of US citizens, and he says, all experts are saying, Iran is behind the oil tanker attacks. Meanwhile, the house today voted for the first time to repeal the two thousand one authorisation for the use of military force that gave the green light for the war in Afghanistan has been used for justification and other military operations and New Zealand has opened a six month firearms buyback, and amnesty and bid to rid the country of semiautomatic weapons in San Francisco, I'm Ed Baxter. This is Bloomberg. Brian, thanks very much. We are joined on the line from Sydney now by Eleanor Cray strategist on the Australian market at Saxo capital markets. I just want to ask you Eleanor whether or not plunging bond yields like this make you nervous. Certainly it does make one little Nevis. And I think it signals that we are entering a new structural environment with bond yields fulling soda, and we are going to remain in this Noah along the environment while central banks, signaling ready to that they have to typing practice set on monetary easing. So I'm gonna come at the question from a different perspective. Eleanor the issue, not so much where we are right now in rates, but it's the, the rate of change that we have seen. Let's say since the early part of may when trade talks broke down or are you at all disturbed by the delta here? Yeah. Well, I think that that's an interesting point that it's very t of the move has been pretty insane. Participate in a straight hair. Look at ten years on at six months ago, and let on now now is out three years. Touching on the one percentage well at it, it sent me being a rapid move, and then suddenly this for to continue Loa, but I think it's a very that we've seen play out consent me hold off somewhat a next me. See, I guess an acrimonious writedown of trifle said the twenty and not know this agreement of the traits full and the tariffs, going hard. And I think it's a very handsome move as they played out. So now is it fair to say that equities are discounting, both the rate cut and a trade deal? That's why they're at nearly all time highs while the bond market just sees a rate cut. And and it's somewhere between those two that we need to look for wisdom. Yeah. Well, I think at the moment eighty one meal, we really have to take risks. Right. So I think that's, that's what pardoning inequities at the moment level rights, translating, a high multiples. I could eat really attractive on the hunt for yield and this sort of easy money environment. We'll continue to feel equity prices for the time being even though we do have to sort of trade threat an an emerging technology, coal potentially and a real slowing in economic growth there really cheap. But the equity market we'll have to contend with at some point. And I think it probably likely that we will be the narrow, February feature maybe to of the equity to have to surrender what the bond market, the ready screening. But at the moment, the possibility of breaking out to meet high off the effective. More easy, money is, is quite, like so we talked about the dollar breaking down during the New York session after the Fed Open the door to a rate cut, and we are weaker right now. What is interesting in terms of the commodity space? Is that gold is on a tear? We're at the highest level. Now we've seen since about twenty thirteen the spot price is just under..

US Eleanor Cray Ron Brian Iran Hong Kong Federation Representative Bloomberg Saxo capital San Francisco Noah New York delta Sydney Ed Baxter Afghanistan New Zealand
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:29 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"The Bloomberg business app. Good morning. I'm David Hager. And I'm Karen Moskow. Global stock share falling as trade talks between the US and China breakdown. We're coming up to six one on Wall Street. We check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures are down about thirty three points. Dow futures down two hundred seventy two NASDAQ futures down one hundred fifteen the Dax in Germany's down six tenths of upper sent the CAC in Paris down four tenths percent of all the footsie. One hundred is now little change up less than a tenth of upper set. Nikkei two twenty five in Japan fell seven tenths of a percent. Ten year treasury up twelve thirty seconds yield two point four two percent. Yield on the two year two point two one percent. Nymex crude oil up one and a half percent or ninety five cents is sixty to sixty one a barrel. Comex gold then a quarter percent or three dollars ten cents at twelve. Eighty four twenty announce the euro one point one two three nine against the dollar. The yen at one oh nine point six eight Nathan here in the breakdown in trade negotiations is. Weighing heavily on markets as we await China's retaliatory measures on US tariffs. No details on that yet. But we are hearing from the country state media. Bloomberg's Tom MacKenzie reports from Beijing the people's daily putting in Dettori saying, it should be the US that takes full responsibility for what is essentially a breakdown in these negotiations saying that the US went back on its word the global times putting out on that. It's Oriel saying the fist US offensive is irrational. And it says that China will not accept that deal. That is unequal and that comes down to the nub of it for China is that they will get into a point. They felt where they were gonna come away with the deal that essentially was going to leave China losing face. Of course, we also heard from China's leave negotiates on the back of these Tokyo, Leo her saying that he wants to see the US removed tariffs reduce its demand for agricultural purchases. And again, allow them to come away with a deal that left China with some dignity. Meanwhile, today, we get details on the Trump administration's plans for tariffs on an additional three hundred billion dollars. Chinese goods President Trump says the US is right where it wants to be when it comes to negotiations and chief economic adviser Larry cudlow took the Fox News Sunday to make the case. We don't think the Chinese have come far enough. We'll wait and see the talks will continue, and I will say this is she twenty meaning in Japan toward the end of June next month, the chances that President Trump in president she will get together at that meeting are probably pretty good Kudlow on Fox News Sunday as heard on Bloomberg radio says China invited US Trade Representative Robert lighthizer and Treasury Secretary Steven Mnuchin back to Beijing. No word yet on when that next round of talks won't be the negative headlines on trade hit stocks in Asia hard today. Bloomberg's Juliette Sally joins us from Singapore with details. Come morning. Juliet. Good morning. Nathan. And Karen, the Asia Pacific index fell to a three month low as Chinese Stokes resumed this L off to Friday's rebound, which has spurred speculation of state based intervention the. Csi three hundred was down more than one and a half percent Monday. While the U on also declined to see the currency wipe out. It's gain for the year, Goldman Sachs's cut its three-month full costs for the two six nine five from six foot six five dela following the increase in tariffs. Elsewhere strong again. So then it two to five close lower for six session in a row to twenty one thousand one hundred ninety one points in Tokyo in Singapore. I'm Juliet solid, Bloomberg daybreak. Juliette? Thank you stocks. In Europe are also edging lower this morning. Bloomberg Sebastian satellite joins us live from London with the very latest. Good morning Sebastian. Good morning. Karen, Nathan, the Stokes hundred down Hoffa percents as trade talks remain deadlocked. Telecoms are the hottest hit LA by Vodafone, which is falling off to a newspaper report that might slashes dividends tomorrow. We're seeing some grossing utilities and oil and gas that is crude gains noise. Aca peas, the best performer in that sector group off the DNB upgraded it to eight by live in London Sebastian solid back day. Break sebastian. Thanks friday. Kept to the biggest weekly decline of the year for US stocks. And it's more of the same this morning with us in p futures lower by one point one percent. Eleanor Cray is market strategist for sex. Oh capital? The market is being relatively sanguine on this breakdown in negotiations. But I think that certainly something that can change if we look at short positioning on the vix that shows us that we can really have a rapid escalation here in market sentiment. And we could be looking at much though, the foles particularly in the S and P five hundred and in the Chinese market says, well, no so far this year. The s&p five hundred is still up fifteen percent while China's CSI three hundred is higher by nearly twenty two percent. It wasn't the best week to roll out. The year's biggest IPO. Shares of Uber fell more than seven percent in their trading debut on Friday. We'll see if they can reverse that trend today. Bloomberg's John Tucker joins us live with more. Good morning. John. Good morning. Karen, Uber is down two and a half percent of the pre market this morning. The shares debuted at forty two. Dollars on Friday. Well below the price of forty five not at enviable starts so far this decade just seven other companies that raise more than a billion dollars in their IPO. Have ended the first day of trading in the red still with Bush securities, managing director, Dan is is hopeful in our opinion. We believe this is kind of a near-term speed bump, it's going to be more of a blip. Ran the star trend here. Uber. Racked up a three billion dollar operating loss last year. The company would rather you focus on another metric monthly active platform, consumers otherwise known as people who touch one of its services at least once a month. The company says that number is nine ninety one million John Tucker, Bloomberg daybreak John. Thank you, bitcoin is extending its rally again this morning. The digital currency surpassed seven thousand dollars overnight is now seen its value more than double since mid-december bitcoin rose every day last week in is up about seventy percent on the year. All right, right right now. Let's check bitcoin. It's at seven thousand seven. Ninety nine right now futures are falling. They're down about thirty three points. Dow futures down two hundred eighty one NASDAQ futures down one hundred eighteen and straight ahead. We have the latest world and national news. This is Bloomberg. Thanks, Karen, six oh, seven on Wall Street, and like a bar is right here to tell us more. What's happening around the world. Good morning..

Bloomberg US China Karen Moskow Bloomberg Sebastian Nathan John Tucker Japan Asia Juliette Sally Beijing Tokyo Juliet David Hager Singapore Trump administration Sebastian
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:01 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"More and register today and global stocks are falling as trade talks between the US and China breakdown five. Oh, one on Wall Street. I may check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures are down thirty five points this morning. Dow futures down two hundred ninety six and NASDAQ futures down one hundred twenty two the Dax in Germany is down eight tenths percent can Paris down half percent one hundred as little change. Nikkei two twenty-five Japan fell seven tenths percent ten year. Treasury up twelve thirty seconds yield two point four two percent. Yield on the two year two point two one percent. Nymex crude oil up one and a half percent or ninety four cents to sixty two sixty one a barrel. Comex gold and a quarter percent or two dollars ninety cents at twelve. Eighty four fifty an ounce. The euro one point one two three one against the dollar and the yen one. Oh, nine point six eight Nathan, oh, Karen. You said at the breakdown in trade to go. She is weighing heavily on markets as we await China's retaliatory measures to US tariffs. No details on that yet. But we are hearing from the country state media. Bloomberg's Tom MacKenzie reports from Beijing the people's daily putting out in that it's Oriel saying it should be the US that takes full responsibility for what is essentially a breakdown in these negotiations saying that the US went back on its word the global times putting out in aditorial saying the fist US offensive is irrational. And it says that China will not accept that deal. That is unequal and that comes down to the nub of it for China is that they were getting to a point. They felt where they were gonna come away with the deal that essentially was going to leave China losing face. Of course, we also heard from China's leave negotiates on the back of these Tokyo her saying that he wanted to see the US removed tariffs reduces demand for agriculture. Purchases and again, allow them to come away with a deal that left. China was indignity. While today, we get details on the Trump administration's plans for tariffs on an additional three hundred billion dollars in Chinese goods. President Trump says the US is right where it wants to be when it comes to negotiations and chief economic adviser Larry cudlow took to Fox News Sunday to make the case. We don't think the Chinese have come far enough. We'll wait and see the talks will continue, and I will say this g twenty meeting in Japan toward the end of June. The chances that President Trump in presidency will get together at that meeting are probably pretty good come on Fox News Sunday as heard on Bloomberg radio says China invited US Trade Representative Robert lighthizer and Treasury Secretary Steven Mnuchin back to Beijing. No word yet on when that next round of talks will be the negative headlines on trade hit stocks in Asia hard today. Bloomberg's Juliette Sally joins us from Singapore with details. Good morning. Juliet. Good morning. Nathan. And Karen, the Asia Pacific index fell to a three month low as Chinese Stokes resumed this L off after Friday's rebound, which has spurred speculation of state based intervention CSI three hundred was down more than one and a half percent Monday. While the you on also declined to see the currency wipe out. It's gain for the year, Goldman Sachs's cut its three-month full cost you on two six nine five from six foot six five full owing the increase in tariffs. Elsewhere throwing again. So the Nikkei two five close lower for a session in a row to twenty one. One thousand one hundred ninety one points in Tokyo in Singapore. I'm Juliet solid, Bloomberg daybreak. Juliette? Thank you stocks. In Europe are also edging lower this morning. Bloomberg Sebastian sound like joins us live from London with the very latest. Good morning Sebastian. Good morning. Karen, Nathan the Stokes hundred now down by Hoffa percentage. Those trade talks remain deadlocked. Telecomms the hardest hit lead low by Vodafone, which is falling off to a newspaper report that it will slash its dividend tomorrow. The only so seeing any real growth is when oil and gas crude gaining and noise act could be the best performer that the DNB upgraded. This talk to a by live in London. I'm Sebastian sonic, Bloomberg daybreak. Thank you Sebastien Friday cap. The biggest weekly decline of the year for US stocks. And it's more of the same this morning with us in futures lower by one point two percent. Eleanor Cray is market strategist for Saxo capital. The market is being relatively sanguine on this breakdown in negotiations. But I think that sunny something that can change if we look at short possess. Listening on the vix shows us that we can really have a rapid escalation here in market sentiment. And we could be looking at much fo the full particularly in the S and P five hundred and in the Chinese markets as well. So far this year the s&p five hundred is still up fifteen percent while China's CSI three hundred is higher by nearly twenty two percent. It wasn't the best way to roll out. The year's biggest ITO. Shares of Uber fell more than seven percent in their trading debut on Friday. We'll see if making reverse that trend today. Bloomberg's John Tucker joins us live with more. Good morning. John. Good morning. Karen will this wording in the pre market? Shares are down one point nine percent. This year's debuted at forty two dollars on Friday, well below the IPO price of forty five dollars not an enviable start. So far this decade just seven other companies that raised more than a billion dollars in their IPO ended the first day of trading in the red still Wedbush securities managing director, Dan is is hopeful in our Pinon. We believe this is kind of a near-term speed bump, it's going to be more of a blip. Ran the. Starve a trend here over racked up three billion dollar operating loss last year. The company would rather you focus on another metric monthly active platform customers. The company says that number is ninety one million John Tucker, Bloomberg daybreak ni-, John. Thank you and bitcoin is extending its rally again this morning. The digital currency surpassed seven thousand dollars overnight. It has now seen its value more than double since mid-december bitcoin rose every day last week. It's up about seventy percent on the year on the session today. It's up twelve percent at seven thousand fifty four dollars s and p futures though thirty three points lower. Dow futures down two hundred eighty one points, NASDAQ futures down one hundred seventeen this is Bloomberg. And.

Bloomberg US China Karen Bloomberg Sebastian Nathan John Tucker Sebastian sonic Asia Tokyo Juliette Sally Beijing Juliet London Singapore Nikkei
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:10 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"The truth is MRs Baker, the prime minister's idea of taking back control of our money is to hand the blank check. And after twenty eight no rebate for the UK. Yeah. Carbon pushing on whether what they've seen as a finished product. And the prime minister saying that it will still be negotiated. She's in Brussels say South Korea US will scale back a major military exercise next spring. US defense department says operation fall eagle will be reduced in scope not to put any crimson talks with North Korea. This while the USS Ronald Reagan has docked today in Hong Kong after flying a pair B fifty twos over the disputed South China Sea, Facebook, CEO, Mark Zuckerberg is denying that he and other exacts tried to minimize Russia's role in spreading propaganda, and he stands by C O, Cheryl Sandberg, Cheryl is a really important part of this company, and is leading a lot of the efforts to address a lot of the biggest efforts that the biggest issues that we have on CNN. He says he has been an important. She has been an important partner in hopes that he will be able to work with her for many years to come global news twenty four hours a day on Aaron talk on Twitter. Powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco, I'm Ed Baxter. This is burnt Bloomberg. Bryan. Thank you very much. Our guest is Eleanor Cray from Saxo capital markets. Australia strategist there Eleanor. We've had this possible. US concession on trade talks with China reportedly that Peter Navarro will not be involved in also saying that the fed may pause on rates. Does it start to give investors the notion that if not at least confirmed in the moment, but we could be heading this way in early next year? And maybe we should start looking at risk assets. Again. Sent me. The most mea come cabinet. Reschedule it will be that g twenty meeting between Trump, and she and I think as well we've every ten percent that we see in the US stock market. The likelihood that Humpty maybe feeling more optimistic and wanting to sort of at least come out somewhat triumphant. With a deal that backup ability rises. So I think in some ways be S and P five hundred heading into this is the best gauge of whether or not we will maybe see that pay deal. So I think the most optimistic outcome that we really could hope for is truth negating that increase from ten percent twenty five cents in January and the further impending parents. So that was sent me see some optimism flowing into markets bounce in Wisconsin. So we'd see the Yuan strengthening as well at bouncing probably. But I think really. We can't expect back deal at the g twenty anything that addresses, those deep polluted underlying issues. So Trump deal is very different to US China deal and the truth in economic Cold War that we see unfolding we. Rhetoric regarding intellectual property and SOS subsidies, increasing throughout the last couple of months, and I think that was evident in Pence's rhetoric at the summit. Eleanor with all of that in mind, you're saying a little bit of abouts could come through. If there is a truce. But do you buy into these comments that we've heard we just had on news earlier that we could see a bear market decline of twenty percent next year and a potential recession in the US? I think this scenario would have to be painted to buy into comment would be that we see I guess the US China trade situation worsening. We'd be increase in January. We see the conflict worsening on other fronts with regards to sort of intellectual property transfer technology transfer an export control we also would have to paint into that bay markets. Nari out the state not putting on the right hockey trajectory next year. And then as well China being unable to engineer a turnaround in their economy grew the stimulus they are acting in.

US Eleanor Cray prime minister Mark Zuckerberg China Peter Navarro South China Sea partner MRs Baker UK North Korea Bryan South Korea San Francisco Facebook fed Bloomberg Hong Kong Ronald Reagan
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:29 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"Ago Hang Seng index futures trading down now two hundred and twenty points or so that's about eight tenths of one percent. So if we boil it down there's so much happening today. But one of the most fundamental things is that we've got very strong US data on private American payrolls and on American services industries. So that's good for risk assets. And it's good for Asian economies. But it's just that what comes along with it is higher yields and higher dollar the dollar is right now the Bloomberg dollar spot at eleven ninety four the high of the year was eleven ninety six so we're virtually there. The doll yen one fourteen forty one that's a weak yen. And that's lifted. Tokyo equity prices were up about two tenths of one percent. But back to the story about the dollar and deals. The yield on the tenure up to three point one eight percent that was eleven basis points spike in one day. That's a lot a lot for markets to digest and the two year was up to two eighty seven which is a post crisis high couple of quick notes Li Ka-shing bought five point nine million CK acid shares over three days. That's according to filings stanchart lowers the Hong Kong GDP growth forecast. Three point six percent. And Billy Billy shares jumped in the United States eight percent after it was learned that ten cents was upping its state. All right. Nineteen minutes past the hour to San Francisco. Ed Baxter has news. All right, Brian. Thanks US. Navy's proposing a full show of force near the South China Sea CNN reporting that is proposing a series of operations during a single week in November sailing ships and flying aircraft nurturing Anna's territorial waters in the South China Sea and Taiwan Strait. It says in navigation free passage international waters that is the premise on which its planning to warnings and North Korea's attacking finances of as many as twenty three countries on says hundreds of millions of dollars in the banks of at least eleven other countries US is backing away from the Trump administration goal of North Korea denuclearization by the end of the Trump term in twenty 2021 reports are that the FBI is confused about its goal in the confirmation investigation. It is not talked with either judge cabinet or Dr forward, but their reports that the. FBI pro paperwork is out and that senators can view it privately secure area. It should be made public. They are saying to Mara. We'll have to see how that time-line holds up. The mayor of soccer Japan says he's ending a six decade sister city relationship with the city of San Francisco to protest a statue here honoring women forced into sexual slavery during World War Two the so-called comfort women global news twenty four hours a day on Aaron a tick talk on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco, I'm Ed Baxter. This is Bloomberg. Juliet, and thanks so much. Let's get back to our conversation with Illinois, Cray strategist, Australia market, at Sexto capital markets on the line from Sydney Eleanor, Doug was setting up that story that we heard from him Kelly warning that Australia's property slump could threaten the banks and economy, and this comes after UBS gave that warning that the banks could be under pressure due to the financial standards inquiry as well. What's your view on the financial sector in Australia? Certainly we believe that the financial sector could be under pressure. Also are few reasons behind the so obviously staying in the housing market that was really as well confirmed yesterday with the talked to housing declining planning approval, really showing that downtrend easing tact. And we all still expecting a decent amount of new supplies come onto the market as well towards the back end. But that's only going to cement the downward fall in housing also seen as well. An increase in regulation coming through studying banks, the Royal commission on the banks as well. I haven't put aside a lot of fun remediation costs. We've already seen Westpac last week increase the amount that they'd have to put aside full remediation. For all feed into quite a negative outlook for the Bank. We're also seen as well that they've had to tighten credit standards of that really caused slow slowdown credit growth. A sent me the banks will remain on the pressure. However, I think that the other side of the story Webuye the yields that they offer is very attractive compared to other stock market. The yield is still around seven. But I guess you need that increase yields the titans on. Risk that comes with your capital investment banks, but they are going to pressure. So given the two things that are happening here. There's the housing market. There's the financial system, and I guess three things the overall economy where does this really leave the Reserve Bank of Australia? So I think we heard this week that the Reserve Bank sent me gang to remain on hold for the time being. And that sent me out you at Saxo as well that the Reserve Bank will remain on hold until twenty twenty. And I think actually what we're seeing playing out in the housing market. It's feeding into a story now that we really can't rule out. The next move actually being a cop. Obviously, we've got consumption contributing to around sixty percents of GDP in Australia. So if we do see this folding, how the prices continue we will see how companies after pressure from that at this could severely impact household spending. But now, actually the most recent economic data that we've seen coming out of Australia has that she'd been Donka and it somewhat concerned confirmed the Reserve Bank's optimism over the past few months. Wait and see story here in stadia just wanted to get your thoughts as well on China and J P Morgan of cost cutting these Chinese Stokes on. Risks of a full-blown trade war. You don't think that we will say China? The weaponize the Awan d. No. We don't think that China will recognize the on. And I think that movement that we've seen most recently have come for the PBS be focused on financial stability and in not maybe maintaining key level in the Yuan. But in maintaining a against those lodge moves in the Chinese. So we don't think that the Chinese will. Actively weaponize the Euan. All right. Eleanor cray. Great to get your thoughts. Very quickly twenty seconds. I'll say do you have any top conviction trades through to the end of the year? Tuck conviction trades through to the end of the year is remaining a.

Bank Australia Reserve Bank US San Francisco Bloomberg Ed Baxter China FBI North Korea Eleanor cray Billy Billy South China Sea soccer titans Tokyo Li Brian
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:56 min | 2 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"The story for us from the Bloomberg nine sixty newsroom in San Francisco. Brian was talking earlier at about how nervous this is making investors in the Asia Pacific. Yeah, they're using this. Well, it's it's a big threat. If in fact is true, it's a CNN report at this time using it to warn China bought activities in the South China Sea Jacob Kirkegaard at the Peterson institute says this is risky, which is what investors we worried about. This obviously raises. Is the risk that in this economic environment and political climate that something happens in the South China Sea that maybe nobody really wanted or anticipated and things get out of control warnings out today about cyber attacks on a number of countries perpetrated by North Korea. The first a warning from the US department of homeland security and North Korean a hidden Cobra to attack ATM accounts in Asia and Africa this one affecting Twenty-three countries of the second that North Korea, cyber attacks are increasing US security firm fire. I raising the alarm today saying that hundreds of millions of dollars have been stolen from banks using sophisticated destructive attacks that have spanned at least eleven countries. It says it is a global threat the US has backing away from the Trump administration goal of North Korea denuclearization by the end of the Trump term and twenty twenty one what it is saying is the secretary of state, Mike Pompeo was headed back to work on it. I'm optimistic that will come away from that. With better understandings deeper deeper progress and a plan forward, and he says path plan is the path toward denuclearization. The visit scheduled for this weekend. FBI investigation this week on the confirmation hearings of judge Brad Kavanagh's, reportedly reaching its conclusion there are reports that it's available to senators now in a secure area, and that they can be looking at it. But Bloomberg Shannon penny. P says it got a bit confused regarding the limitation a lot of these claims people are making now that cavenaugh drank excessively and mischaracterizes his drinking when he was in high school in testimony before congress that those don't fit into the scope. Yeah. So we'll see what comes out of it. They say it should be public by tomorrow morning in San Francisco. I'm Ed Baxter. This is Bloomberg Douglas. All right. Thank you so much at Eleanor Cray is with us. He she is the strategist for the ustralian market at Saxo capital markets. Eleanor. Always a pleasure. One of the things. We've got to deal with imminently is this backup in US interest rates the ten year treasury right now at three point one eight percent. How does that impact life where you are? Hi, good morning. Thank you for having me. See yet? But certainly we're seeing highest level on the tenth eleventh, and we had the other night back eleven basis point. Really punchy move. We broken that key level at the three twelve area closing at three point one eight. So we've put a decent steepening up the curve coming through. But I think really. Mr. Really? Moves and that obviously that long yield moving higher all the fat classic resistance equity crisis. Although I'd say that we're not quite at the inflection point yet. Typically, look at history that shown us that inflection point comes at around four to five percent for the long end Domo Yale to generate that inflection point. But I think because of debt saturation now that we're seeing with corporate globally Bisconti closer to around three point five percent. However, obviously would not at that level yet. Sorry. Ellena? You're more worried about what's happening in yields or the strength of the Dollah. I think it's definitely something that investments me to way up between the two I think the US dollar Agassi has ramifications, but blow through that emoji trade and the strength in the US dolla that we saw playing out over the past two weeks ago three weeks ago, the US was backing off a little bit than that was allowing some of the emerging pockets to have that for either and that rest by a little bit of a tactical bounce. So now, we're seeing that resurgence strengthening US dollar. That's calling question not emerging markets bound now, but I think the broader picture to look yields and where they are and what the equity market, generally as we have seen this outperforming, the US equity market, and that could be started to call into question that we start to see those long bribing Eleanor when we continue the conversation on one get your take on a note from pimco, they're saying that Australia's housing slump has increased the possibility of debt. Downgrades for some of the big banks. We're talking with Eleanor crashy is strategist for the ustralian market at Saxo capital markets here on daybreak Asia. Speaking of Sydney, actually,.

US Bloomberg San Francisco Eleanor Mike Pompeo Saxo capital South China Sea Jacob Kirkegaa denuclearization North Korea Asia Eleanor Cray Asia Pacific Bloomberg Douglas CNN China South China Sea Eleanor crashy Peterson institute Shannon penny
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:35 min | 3 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"It tiny Nike we will get one more block out, before, the end of the really, Takagi slowing momentum we think there's sort of, naked tolerant all slowing pricing China and I think as well Slowdown in growth momentum and the tightening the critic is really what had been messing. Effect on the equity market not so much attention, that she so. In, that respect it's quite important for the Chinese policymakers to try and restore trying to restore. Peace and calm in the Chinese, equity market three, sort of gradually loosening acquitted and three switching to a easing bias on the, monetary policy stance so I think we could be some that we we've been. Gone however there is, a point where the PBS would, be. Forced to act to prevent capital flight we have already seen double stabilization and I mean. A lot of people were expecting the PBS to step, in, before this point I guess On, that basis I. Don't think we'll be devaluation much prospects point eight. And. I think we want to get to seven we would definitely have the PBS's stepping in and preventing capital flight because of. The devaluation process that would really sort of calls it the next week classes with confidence which which they don't want obviously and really blow a hole in the UN's credibility as a potential trade currency moving forward and, destroying I guess Beijing but maybe. One day that the, UN replace the US dollar across Asia in in terms of trade yeah I mean it's the worst kind of heartbreak you don't really forget back in two thousand sixteen of course they went through one trillion of their reserves. Just like that I'm guessing they don't want a, repeat of that. Eleanor, I got to ask you about the b. o. j. and speculation about next week whether. Or not they change are not. What do you, think would be the biggest implication if they do allow yields to push higher. From here Jay do allow the yields higher, education that we. Would be in the market is I guess what was. Already starting to see happen is the bad global best deepening across because we've already seen that in this morning in Australia. On peanuts probably going to be the biggest implication there would that necessarily be a big negative thing though In terms of what do you mean well just you know I'm looking at it at the US for example I mean you could make the case that, the economic growth that we have going on. Right now would argue for for much higher rates US ten yeah I think so but I think what we're saying the. Moment is. Really a sentiment, that, possibly be US gross rate is. Not going to continue out into the. Longer term we've, seen, a massive in the US GDP from the fifth, pickiness and, wouldn't that continual out through to twenty nine thousand nine hundred twentieth questionable in my opinion. Eleanor we're going to leave it there thank you. For coming on the program Eleanor Cray there Australia market? Strategist, at Saxo capital, markets on that note of course in thirty minutes. Time and, get the update on very well bond markets head from here that's going to be a big market story today there's this Bloomberg With a Bloomberg. Business of sports report I'm Charlie Pellett at least ten, percent of, the New York, Mets is going up for sale. This according to people familiar with the matter. The people say three minority owners and possibly. Others are.

US Eleanor Cray PBS Australia UN Takagi China Bloomberg Saxo capital Beijing Mets Asia Charlie Pellett Jay New York thirty minutes One day
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:08 min | 3 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"You was equities I mean we've already talked about some select earning story so I won't dwell on Donald I. Should mention, we are entering. Japan earning season as well about ten twelve percent into this set of results and frankly it's been well it's been quite. Bad, two-thirds of companies that have reported so far with with forecasts it is have missed a profit forecasts overall nothing especially groundbreaking. To notice far to tone in. Equity markets overnight was concerned it what's worth what is worth noting days what happened in. The treasury's market you was two year yields up three, and a, half, to three and a half percent ten year yields was up six point one basis points. Two point nine six, percent of the thirty. Year up six and. A half to three point zero nine so in other words. You put everything together. We're going, into Asia this Tuesday staring up at a bare steepening, in the, treasury curb Ozzy bond yields in fact at this. Point in time already up quite early here Tenure is on track for the. Biggest pop there. In about seven weeks we're blaming Japan here and report to the b. o. j. next week. Maybe looking, to tweak it. Stimulus policy seems to be one of the things analysts are pointing to at the moment for this global backing up in. Bond, yields into thinking there is if the back does allow a higher ceiling or yields to move up a little bit higher. From these levels many suspect large. Amounts of Japanese money that essentially when a borough abroad and park their money abroad in. Search for yield we'll pack up and head back home, quick look, at, the equities market s and p futures up a point twenty eight thirteen I'm lifting across. Asian futures at the, moment and it does. He will likely clock. In water at gains early this Tuesday let's that's a look. At markets let's pivot. A global, news now Ed Baxter's in San Francisco for us Ed All right David US is issuing the same strategy that it, says it using North Korea to try now and bring Iran to the. Bargaining table the US president tweeting an all caps that Iran could suffer as few have and the. Globes history and up on the Bloomberg terminal the past few minutes Yonhap story that says the US issued an advisory to buyers and service providers of the risk of violating the US and United Nations sanctions on North Korea Yonhap at the same time running a story, that the president is refuting weekend reports that he's unhappy with the pace of the goes with North Korea saying that he, says he's very happy Japan is recorded. Its highest temperature ever as a badly heat wave continues the mercury hit one hundred six. Degrees Fahrenheit north west of Tokyo Mr. Trump is thinking about. Revoking the security clearances a former intelligence officers in, previous administrations. China's primarily ca Chong has ordered. The government to open a formal investigation of the nation's vaccine industry after violate Nations found Chan Siang biotechnology had misrepresented data Samsung and Google phones have have beaten Apple's iphones and data. Speeds this has data from UCLA LLC which tracks download speeds as the other features have become more commonplace the company's trying to sell. Faster connection global news twenty four hours a, day on air and talk on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco I'm Ed, Baxter this is Bloomberg Doug sir all right let's reconnect with Eleanor Cray she's astray alien market strategist at Saxo capital markets Eleanor we were talking, earlier about the. Possibility that we could see much more weakness in the Chinese currency we. Need we know yesterday the, PBOC injected some, more cash into the. Banking system obviously this is being done to four, defy what seems to be a weakening, economy in, China no move at least on the horizon to tighten monetary policy indeed we had some discussion about Perhaps, a cut in the triple are I mean is it likely that we could see much, more weakness in the Chinese currency and if so what does. That, spell for the global economy I think we all seen weakness in neon? And it's really, due to the slowdown in gross momentum and Of monetary policy, easing. Bias from the see that you just mentioned and on that point we do think that..

Japan Ed Baxter North Korea David US Bloomberg San Francisco treasury China president Iran Donald I. US Asia PBOC Ozzy bond Tokyo United Nations
"eleanor cray" Discussed on WAFS Biz 1190

WAFS Biz 1190

04:18 min | 3 years ago

"eleanor cray" Discussed on WAFS Biz 1190

"Fed chair j.? Paul delivered his semiannual testimony before congress this week he maintained view that a gradual interest rate rise. Was the way forward but added the caveat? For nine he also said that the risks to the, US Sandra banks inflation forecasts roughly balanced and he said. Nothing appeared to be flashing red in. The financial markets at the moment I've got, more with Eleanor Cray market strategist at Saxo Bank I think this is exactly what I'm Jay Paul is, is doing it some exerting a lot of confidence and. A lot, of very consistent rhetoric into the market so as not to alarm anyone, or sort of spook the markets. And really move anything to drastically I think he's very consistent, in his, gradual rate. Hike feces and as well he's not putting too much emphasis on the. Trade tensions so. As not to sort of alarm the markets in any way The. One thing that struck me this morning we put it into the GDP library which is the bond market I mean. I'm using the website Matic's at a batting empowering it over the head but I think that that's. What the bond market is telling me it's the, narrow is bound with of. Trading in treasury seven point seven basis points it is. The single narrows bandwidth since nineteen seventy three what news that dial You're exactly right it's a very sort of narrow, trading range that we're in the moment I really think that the sort of key event. Risk that is looming, on the markets today is the threat of impending auto tariffs if we do see tariffs placed. On automobiles as Trump is quite consistent in, his rhetoric quip we see the authors have, around thirty five percent. Of imported components and at that point, we. Would start to. See a real knock-on effect into the markets maybe less of sort of complacency that maybe. The trade trade war threats are not, real and at that point. We really, do start to see the unraveling of global, supply chains maybe being put, into place you ain't got choas prophet warning last night the reality, they make make product and comedy they bring it in the reality, is higher energy. Prices import tariffs that's the reality this policy has good. Consequences for profit of Ability Exactly and I think a lot of what the market has been focusing on the effect on GDP and at the moment that somewhat. Minimal but if he's sort of go further than that and you look at the effect on corporate, profits then that's where you really start to see the worry creep. In and that's where we could really start to see much more of an effect in the, markets and that's where we need to. Start so the pricing notes effects in the one thing that has came across wherever we caught up with the, MacQuarie that of commodities at, MacQuarie and they said we should be much more focused on the reduction of the balance sheet to this into the GT. Library I wondered to what extent is? This the sort of the underbelly of? Concern the balance sheet is being reduced and balance sheet is being reduced in in in the US your seat emerging market equities. Com lower the fed is going to be stopped from reducing the balance sheet would be Macquarie's central, tenant. Hardy the balance, sheet reduction risk I think we are definitely, seeing dollar liquidity squeeze on, we are seeing not effecting merging Mark emerging markets as well I do think that we all think core inflation at around. On just above two percents we also? See the fed funds rate just below? Two percent so in that way the the real neutral rate is still accommodative we seek core inflation above percent and we see. The fed funds rate below two percent so actually the real fed funds rate is still negative at, this? Stage so in that sense I wouldn't be I. Guess too concerned about the fed meeting to stop unwinding the balance sheet. Right right this minute GDP I this week showed. China's economic expansion is slowed in the first half as trade. Tensions Wade although they failed to make a significant dent I got the. Reaction from our, Tanka from, AXA investment managers but first we went through the numbers with our. China? Correspondent. Tom MacKenzie.

Jay Paul MacQuarie fed China Tom MacKenzie AXA Saxo Bank congress Trump US Eleanor Cray Wade Hardy thirty five percent Two percent two percent
"eleanor cray" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:23 min | 3 years ago

"eleanor cray" Discussed on Bloomberg Radio New York

"Fed chair j.. Paul delivered his? Semi, annual testimony before congress this week he maintained a view that a gradual interest rate rise was. The way forward but added the caveat for? Knives he also said that the risks to the US, Sandra banks inflation forecasts were roughly balanced and he said. Nothing appeared to be flashing red in. The financial markets at the moment I got, more with Eleanor Cray market strategist at Saxo Bank I think this is exactly what I'm, Jay Paul is is doing it some exerting a lot of. Confidence and, a lot of very consistent rhetoric into the markets so as not to alarm, anyone or sort of spook the. Markets and really move anything to drastically I think he's very, consistent in his gradual rate, hike feces and as well he's not putting too much emphasis on the. Trade tensions so. As not to sort of alarm the markets in any way The one thing that struck me this morning we put it into the GDP library which is the bond. Market I mean I'm using the words like Matic's Batard batting empowering it over the head but I. Think that that's what the bond market is telling, me it's the narrowest bandwidth. Of trading in treasury seven point seven basis points it. Is the single narrow bandwidth since nineteen Seventy-three what news not dial You're, exactly right it's. A very sort of narrow trading range that we're. In at the moment I really think that the sort of. Key event risk that is looming on the markets today is the threat of impending auto tariffs, if we do see tariffs placed on automobiles as Trump is quite consistent. In his rhetoric with, we do see the authors have around thirty five percent of imported components and at that point we would start to see a real knock-on effect into the markets for. Maybe less of this, sort of complacency that maybe the trade trade war threats are not real and at that point. We really do start to see the unraveling, of global supply chains, maybe being put into place. You ain't got choas. Prophet warning last night the reality they, make. They make products. In Canada they bring it in the. Reality. Is higher energy prices import tariffs that's the reality this policy has good consequences for profitability exactly and I think a lot of what, the market has. Been focusing on the effect on GDP and at the moment that somewhat minimum But if you sort, of go further. Than that and you look at the effect on corporate profits then that's where you really start to see the worry creek in and. That's where we could really start to see much more of an effect in the markets and, that's where we need to start so the pricing knows effects in the. One thing that has, came across we caught up with the MacQuarie commodities at MacQuarie and they said actually we should be much more focused on the reduction of the balance sheet of this. Into the library I, wonder to what extent is this the sort of the underbelly of concern the balance sheet is. Being reduced and balance sheet is being reduced, in in in the, US your seat emerging market. Equities calm lower the. Fed is going to be stopped from, reducing. The balance sheet. Would be mcquarry central tenant Hannukah balance. Sheet. Reduction risk I think we are definitely seeing dollar liquidity squeeze on we are seeing not effecting merging Mark emerging markets but as well I do think that we are seeing the core inflation at around. Or just above two percents we also? See the fed funds rate just below? Two percent so in that way the the new the real neutral rate is still accommodate we c- core inflation above percent and, we. See the fed funds rate below two percent so actually the real fed funds rate is negative, at this stage, in that. Sense I wouldn't be I guess too concerned about the. Fed meeting to stop unwinding the balance sheet right, right this minute Where GDP I, this week show China's economic expansion is slowed in the. First half as trade tensions Wade although they failed. To make a significant dent the, reaction for Mark, tinker from, AXA investment managers but first we went through the numbers with our. China? Correspondent. Tom MacKenzie Concur with mlive, team really there's no sense of, panic from..

US Jay Paul Fed congress China Saxo Bank worry creek Tom MacKenzie AXA Mark Eleanor Cray Wade Matic MacQuarie Trump Canada