24 Burst results for "Wes Goodman"

"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:39 min | 1 year ago

"wes goodman" Discussed on Bloomberg Radio New York

"If you're a night, owl on the west coast or an early bird in New York, you're hearing us on on digital internet radio. I used to listen all the time in my car. Sometimes also very late at night. So I understand, let's take a look at the markets here as we prepare for the open of European trading and just a couple of hours time from now in Asia, we see kind of mixed trade right now, for example, the Nikkei is up half a percent. And the topics is also gaining about half a percent, but the three hundred is currently down. So hang on a second. Wait. Sorry. I was looking at futures. In any case, it's still similar to to that. The nikei and the topics are up. A third of one percent. Sent and the CSI three hundred is down two tenths of one percent. The hang sang off half a percent. It'll be interesting to see how those protests go they seem to have calmed down in Hong Kong. But they are apparently expected to pick up on Sunday. We'll talk about that throughout the program. In terms of the futures trade for Europe. We do. See green arrows on footsie futures about two tenths of one percent and actually just one tenth of one percent. US futures are mixed right now. Tech stocks down and down s and p futures rising. If you look at other risk indicators, you see the US tenure yield down to two point zero eight percent. So the ten year is bid, the yen is bid as well at one eight and a third gold is bid at thirteen forty five twenty five Troy ounce. So gold trading almost up to thirteen fifty right now and it's been up to thirteen forty eight earlier in this session oil still holding high as well. Sixty one seventy a barrel for Brent. Crude and fifty two. To forty three four. Nymex deadly WTI, so those are markets. We give them to you. Every fifteen minutes of your top stories right now starting with oil. We start with the twin attacks against oil tankers near the Persian Gulf yesterday. American officials released images, they said show and Islam revolutionary guard corps patrol boat, removing a quote unexploded limpet mine from one of the attacked tankers. It was the first evidence public put forward by the US exports claimed that Iran was behind the attacks, which was announced earlier by secretary of state Michael Pompeo, this assessment is based on intelligence. The weapons used the level of expertise needed to execute the operation recent similar rating attacks on shipping and the fact that no proxy group operating in the area has the resources and proficiency act with such a high degree of sophistication. Iranian officials have rejected that accusation US deputy energy secretary. Dan, told Bloomberg he trusts the US government's judgment on the situation but he went on to say that the oil market quote is very resilient with production numbers across the world meeting, demand. Whether Iran is going to continue its maligned behavior is really for them to decide, but I can tell you from an oil market perspective. We're less concerned about those activities than we were say twenty years ago. Brent extended yesterday's rally the losses for the week. We're still steep amid trade and oversupply concerns. And we just told you there, the price of oil, sixty one sixty eight a barrel for Brent fifty to forty four WTI let's cross over to Singapore now. Or Wes Goodman from the markets live team joins us. Wes US, the US now claiming that Iran was involved in that attack a how will this affect markets?.

US Iran Wes US Brent WTI Asia Wes Goodman Hong Kong New York Persian Gulf Europe Dan secretary Singapore Troy
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:10 min | 1 year ago

"wes goodman" Discussed on Bloomberg Radio New York

"We are going to get on now with the latest top stories starting with the US, China trade war. Beijing is gearing up to us. It's dominance of rare earths as a counterbalance with Washington. Bloomberg's Bryan Curtis has more from Hong Kong state, media, published a number of pieces that included, hints from the state planning agency, rare earths are used in high performance. Magnets, catalysts, alloys, electron IX and the defense industry and China has dominant position. The people's daily said it's not hard to answer the question of whether China would use rare earths as a weapon in the trade war implicit in that is. Yes. China would you know, I'm Brian Curtis? Bloomberg daybreak Europe. Meanwhile, the US treasury department again, refrained from naming China, a currency manipulator, here's Bloomberg's Bloomberg's Greg Sullivan in Washington, one thing that was interesting just coming on the heels of last week's commerce action where they said that they would now place countervailing penalties on countries that subsidize their currencies or weaken their currency. So the administration is looking for ways to, to police that currency manipulation even if it won't be necessarily through treasury. The treasury also updated its wash list with five new nations, including Italy Ireland and Vietnam, India and Switzerland were removed. It'd be interesting to see Italy as a currency manipulator, wouldn't it since. Part of the European Union. So it would have to be the entire block. Let's cross over to Singapore. Wes Goodman from the markets live team joins us. Wes, what's the significance of the US, adding, these countries, Italy, Ireland, Vietnam, Singapore, Malaysia to the currency wash list? Good morning. Good morning, everyone. You know, I think the report is really a warning that the US wants is trading partners to buy more American goods. Post. This has been a big theme of the Trump administration. The report spent a lot of time talking about trade, and you mentioned Italy. Yeah. Took us a little while to puzzle the puzzle the south that the US added Germany, Italy, and Ireland to its currency watchlist, even though, you know, they don't even control their own currency, which, of course, is the euro so again, it's called the foreign exchange report. But, you know, it's maybe focused, of course, on currency manipulation, but, you know, more broadly, the bigger picture of getting countries getting these trading partners to buy more American goods. All right. So that sort of explains that treasury five year yields are about to fall below two percent. You see this as good. It's good. If you own them as we talked about yesterday. We talked about yesterday right? There's good and bad points to this rally. Remember when bonds rallied prices go up and yields go down. So as we discussed yesterday, savers are the ones who are going to suffer. We often talk about the people who are going to benefit, but looking at the Bloomberg total bond market index, total aggregate bond index. The yield is down to about one point seven percent was about two and a quarter just as recently as November, so. Get out your retirement calculator and put in one point seven percent. See how many years it's going to take until you retire. This came up during the financial crisis decade ago when people were calling it financial repression. So that's a uplifting term for a Wednesday. So it looks like we're getting some more of that now. All right. Well, thanks very much for joining us explaining some of that complicated some of those complicated issues. Wes Goodman from the markets live team for real time market, commentary and analysis, check out the markets live blog just type 'em Vigo on your Bloomberg terminal turning to Europe. Now, you e- you leaders have gathered in Brussels to discuss who will be next to fill in the blocks, top jobs, differences, were mmediately apparent between German Chancellor Angela Merkel and French president Emmanuel Macron, the contest for president of the European Commission. Could open up a major rift in the coming weeks with front runner Manfred vaber, or he would be front runner. Her. If anybody supported him, he's the Senate rights official candidate failing to gain traction, French president Emmanuel Macron made his priorities for, for the top job clear, mafia dig my priority is to have the most qualified people, those who share this European project, or the most qualified, and who can make Europe as strong as possible. I am not like those who only want someone who would not overshadow the heads of states or governments need strong leaders. It's strong experience and strong legitimacy. And in the UK the speaker of the house of Commons says parliament won't stand aside and let the country tumble out of the EU without a deal. John Burke, owes comments come as some contenders to succeed. Theresa May have promised to force a hard Brexit. But on the other side of the spectrum foreign secretary, Jeremy hunt has warned that trying to leave with no deal would be political suicide. And top corporate news Nissan. CEO says he's interested in learning. More about the proposed merger between alliance partner Renault and Chrysler, Hiroto psycho says the tie up may present opportunities. He was speaking ahead of Wednesday's meeting of the board governing Nissan's current alliance with Renault and Mitsubishi under the terms of the proposal, Nissan, will gain voting rights of seven and a half percent in the new entity. Staying in Japan. The relentless slide in NoMura shares is headed for unprecedented territory it sank towards its lowest level since two thousand twelve that's within a hair's breadth of its all-time low set during the European debt crisis. In two thousand eleven Japan's largest brokerage has dropped nearly seventeen percent this year after reporting its first annual loss in a decade. Now, let's get your other global.

Bloomberg US China treasury Europe Wes Goodman Italy Washington European Union Emmanuel Macron Nissan Beijing Ireland Hong Kong Vietnam Bryan Curtis Singapore Japan
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:42 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"To the program. You're listening today. Break Europe, I'm Markus Karlsson in London. And I'm Matt Miller in Berlin. At the global solutions summit, we're going to hear from German Chancellor Angela Merkel a little bit later on the day. She's going to sit down with our chief execs are sorry chief executive editor in chief, John Mickel. Wait, he is here in Berlin. As well for this Bloomberg conversation. It's gonna be really interesting to hear her comments about the potential over Brexit delay. For instance, the us twenty-seven might have to decide on Brexit delay and Angela Merkel, of course, a very important voice. Otherwise in the markets this morning, perhaps receiving traders in a wait and see mode ahead of the Federal Reserve meeting this week Matt's. Yeah. Absolutely. I mean, there's not a lot of movement. Although what movement there is in Asia is to the downside right now. We're looking at for example. Topics index is down two tenths of one percent nikei down almost one tenth of one percent. The hang sang is Dan two tenths of one percent. And the CSI three hundred is down almost half a percent. So there are some there are some green arrows, but they're few and far between the nifty fifty for example, is gaining just less than one tenth of one percent. The sense Xs gaining just less than one tenth of one percent. So I suppose you could call it a mix trade, but really it is to the downside equity index. Futures are falling here in Europe. Footsie futures are down just fractionally as our Dax futures US equity index futures, however are gaining in terms of the bond market. We have the yield coming just fractionally down right now on the ten year. Two point five nine six percent is the yield. We're looking at by the way, the German blends right now are yielding zero point zero eight percent. Sent. So just eight basis points is what you get for lending your money to the German government for ten years. Taking a look at currencies. We've been talking about. Well, it's hardly worth quoting currencies. If you're if you're a listener, then you know, they don't move the yen. You can buy one hundred eleven and a quarter for a dollar a euro cost dollar thirteen forty five of course, and the pound at one thirty to sixty six even the pound has been in a pretty tight range, which is interesting, given the news on Brexit. But I suppose traders are still pricing in a delay and believing that a softer outcome is inevitable. Let's drill deeper into that news on Brexit. They would just making reference to Matt's every time that Theresa May thinks that she sees a way out of the Brexit. Something happens to derail her plants the latest spanner in the works was deliver house of Commons speaker John beco- boombox Thomas penny. Penny has the details. He told. That if she wants to ask lawmakers devoting, her Brexit tale, you will have to be substantially changed from the agreement. They rejected last week with time running out to ask any further concessions. He's increasingly likely that may we'll have to go to Thursday's council and ask for a long delight me might be another year before Britain leaves the block the anger in her team is palpable. In London Thomas Peggy, Bloomberg daybreak Europe. All right. We are going to cross over to Singapore next writer, Matt. Yeah, let's do that Wes Goodman from the markets live team joins us there. West. What's the outlook for the pound now that prime minister may has asked for a Brexit delay? Hi, good morning, everyone. You know, one observation may be to make is that. Maybe what the pound likes most about Brexit is that it doesn't seem to be happening. That may explain why sterling is rallied one point six percent in the past month. That's the best performance among the major currencies. But even though Brexit has produced nothing, but gridlock, so you know, any separation whether it's hard or soft relief businesses with all kinds of new rules and uncertainties to deal with. I think I'm beginning to to grow more kind of confident or to think more about maybe the best thing for the pound. Is you know, this long delay a delay as long as possible and just to keep kicking the can down the road. Good in in the US. They say gridlock is good for markets. Yeah. The sun newspaper saying that Theresa May may be drafting a letter to ask for a delay of between nine and twelve months. So we'll see what happens once again out that you cancel summit on Thursday. Wes, let's talk a little bit about the AUSSIE dollar and about the Australian central Bank because it's saying that it doesn't see a need to adjust interest rates on the back of that. We are seeing bets on a rate concert growing. Yeah. Right. That seems to be one of the big trades out in Asia bets on an Australian rate cut coming up. Also today, we had a house price index that that fell by a record amount showing housing prices are falling by a record amount. And you know, the statement was dovish you talked about specifically uncertainty over consumption. So the the odds of a cut in the market of about eighty percent. Eighty percent for a cut this year. And that means investors are betting the RBI. We'll have to turn dovish pretty soon here and the outlook for Australian bonds is bullish. Hi, west. Thanks very much for joining us. Wes Goodman there from the markets live team out of Singapore for real time market, commentary and analysis. Check out the blog just have M L I Vigo go on your Bloomberg terminal. Okay. We all sticking next to the central Bank theme. It said day one of the feds two day meeting today. The central Bank is predicted to keep rates steady and potentially change its projections to show its hiking once or not at all in two thousand nine hundred nineteen however, the former New York fed president William Dudley says he thinks tightening could be back on the table later this year, if the county picks up speed again as I expect will happen and play it starts to drift higher than the federal will be back in play. Maybe as early as the second half of this year. Doveish tilt from the world's central banks has helped spur a rally inequities from the US to emerging markets and economists expect the feds to reinforce that starts tomorrow. Now US agriculture secretary says China could triple is purchases of American farm goods as part of a trade deal between the two countries Sonny. Perdue told Bloomberg the latest trade talks are very dynamic. But there are still concerns over how to make commitments enforceable. He said all agreements must be fixed. And that any tariffs will be binding 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 then our consequences, and that needs to be that that was US agricultural secretary Sonny Perdue speaking exclusively to Bloomberg now in commodities this morning, Libyan oil Minister Mustafa Sonallah says that the country has increased all our put by a third in the past three weeks. Speaking exclusively to Bloomberg's Sonallah said its biggest oilfield, the Sharara in southern Libya is currently pumping too. Hundred sixty thousand barrels a day. And.

us Bloomberg Matt Miller Brexit Wes Goodman Europe Angela Merkel Theresa May Asia London Berlin Sonny Perdue Federal Reserve Thomas penny Chancellor chief executive Markus Karlsson
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:23 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"I wouldn't say that. From what I feel right now. I do have good results with come out. We have of course, seen all of that turned on its head in the last few minutes with headlines out of Hanoi that the summit is now in talks as schedules have been abruptly changed. Yeah. Absolutely. So some question marks regarding the summit itself in the with seen the Korean won't take a little bit of tumble, the kospi index also extending losses. Let's talk a little bit more about the potential mauka reaction to what happening in Hanoi. We're going to cross over to Singapore where Wes Goodman from the markets live team joins says. Now, we've been saying previously that this Trump Kim summit west doesn't have a lot of potential to to be a big market mover. But we all seeing some movement here on the back of these latest headlines. Yeah. Right. I mean, I guess the lesson is that people wanna see these these talks succeed part of me. But most of the morning over here in Asia was really quite frankly, very quiet, a big snooze and people were looking at, you know, the two leaders on television and everybody seems to be interested in kind of the small details. And for whatever reason the fact that they had shrimp. Cocktail for dinner was a big talking point for quite a while. But yeah, just over the past ten minutes were given this big jolt. As the talks have been cut short. I think, you know, the messages stocks want geopolitical stability and. Anything that is is is threatening. The talks is is not good for the sheriff's. Now, the kospi is down about one point four percent. Japan drew strong bidding at two. To bond auction, even though securities have a yield of less than zero wire investors buying these bonds. Yeah. Yeah. For two year note. So you know, I mean, there was a big report on industrial production in Japan today that was very weak and no Bank of Japan. Governor Kuroda has been openly discussing things he might do to increase the the central banks easing effort there. So you know, it just goes to show unstoppable demand for safety and a troubled economy for for the safety of government bonds in this case the two year yield is negative point one five percent. So that's how much you're gonna lose. If you hold the bonds to maturity, but people still want him. All right. Thanks, so much Wes Goodman for real time market, commentary and analysis. Check out markets live. That's M L I V on your Bloomberg terminal. President Trump's trade negotiators dialed back expectations for a sweeping U S China trade deal this as US trade reprobate lighthizer testified before the House Ways and means committee. We have had many many examples of the Chinese agreeing to specific not this specific, but agreeing to take steps to forgo certain unfair trade practices, and in very few cases. Have they actually kept their obligations? Bloomberg sources say the two sides are having trouble agreeing on how to enforce China's commitments on its currency. Meanwhile, China's manufacturing sector in February show death the contraction boombox Brian cuts us reports. Now from Hong Kong the official PM. I was forty nine point two compared to an estimate of forty nine point five the non-manufacturing gauge fifty four point three from fifty four point seven in January, and it was also lower than the estimate getting the blame. Well, a number of domestic holidays the global slowdown. And of course, the trade war, even so there were some bright spots business expectations for both manufacturing and services, improved new orders bounced and input and output prices rose. So that staves off deflation concerns in Hong Kong, I'm Bryan Curtis. Bloomberg daybreak Europe. Fed chair Jerome Powell has been asked directly whether there's a so called Powell put in financial markets that is to say the fed being willing to change. The course of interest rates in response to volatility in effect underwriting, risk taking here's what he had to say. When there are major changes in broader financial conditions as you point out, not any one market or set of markets. But when they're sustained period important changes in broader, financial conditions that matters for the macro-economy it matters for achievement of the dual mandate. And will of course, take that into account. Of course, the dual mandate is maximum employment and stable prices now on this side of the Atlantic. Theresa May sort of emerged unscathed through a series of Brexit votes in parliament last night. Bloomberg's rob Hutton says relatively few members of her conservative party decided to revolt. Tori, MP's voted against her plan to give parliament to say whether to extend the nation's if there's no deal around eighteen more abstained that could be a sign that the prime minister is beginning to erode the resistance Tara deal as Brexit supporters realized that they risk delayed departure or no departure tool in London. Robert Hutton, Bloomberg daybreak Europe. Let's get your other world national news headlines.

Bloomberg Hanoi Governor Kuroda Wes Goodman Hong Kong Japan Jerome Powell China Bank of Japan Europe Asia parliament Singapore Robert Hutton Atlantic rob Hutton Theresa fed PM
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

09:08 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Matt Miller. You're listening to daybreak Europe on London. Digital radio. Matt we've got earnings galore this morning. But when we look at the markets, it's all about the Federal Reserve. Yeah. Absolutely. So the Federal Reserve yesterday with an about face and really in some ways kind of bowing to the market as a result, we had a huge risk rally with gains in in the US stocks strong. Dow up four hundred thirty four points yesterday, the S and P was up one and a half percent. And we are seeing earnings effect markets as well. For example, Facebook came out with a positive surprise. That's got to be a boost for tech stocks in Asia. We see the topics and the Nikkei up more than one percent. We should hang sang up more than one percent. So basically across the board gains with the exception of the ASX two hundred in Australia down about third of one percent. We do see in terms of other risk indicators the US ten year yield at two point six. Seven nine three. Remember yesterday was two point seven two or seven three. So the tenure yield has come down substantially from yesterday. At this time. We also have the yen actually strengthening against the dollar right now, you can only buy one hundred eight point seven three yen for the dollar yesterday one hundred and nine and change. So you do see a little bit of a little bit of a risk off signal. Their gold is at thirteen thousand nine hundred sixty a Troy ounce and oil right now, sixty Twenty-three Brent crude at sixty two twenty three a barrel. Just quick check on the pound as well. One thirty one twenty six the pound continues to hold it a relative relatively high level as Theresa May get started talking with her European counterparts. All right. You mentioned Facebook earnings a little bit materials got plenty of earnings on this side of the Atlantic. This morning Roche is reporting a full year. Call EPS above the estimates at eighteen. Spot. Fourteen Swiss francs, the estimate was four seventeenth spot eighty this as the full year sales at Russia's coming in better than the estimates. Fifty six point eight five billion Swiss francs, so that's the latest when it comes to rush Severin Schwan. The CEO of rush will be on Bloomberg TV just off to seven AM London time, another company your reporting fits into this morning swatches fully operating profit is missing the estimate. One point one five billion Swiss francs, the s was for one point two nine billion Swiss francs sort says business slowed in the fourth quarter, especially in December. We are seeing Nokia earnings as well right now with fourth quarter EPS of thirteen cents a share. That's bang in line with the estimate sales were six point eight seven billion euros in the fourth quarter and Nokia now sees its two thousand nineteen adjusted operating margin of nine to twelve percent twenty twenty twelve to sixteen percent. So getting a bit of an outlook there as sales beat and profit is in line with estimates. Nomura also coming out with earnings third quarter net loss of ninety five point three billion yen. So no Moore. Posting a fourth quarter net loss of ninety five point three billion yen. A one time loss of eighty one point four billion yen there on a down of goodwill. So if you take that out it's less, but still in the red or I-, that's the latest earnings. Let's say get then to the Federal Reserve and the details over last night's decision. Jerem Powell's I post meeting press conference of twenty nine thousand nine has left market expectations for a rate hike this year hanging by threads. And it also raised the chances of a cut next year. The fed chair says that the FOMC will remain patient on rate moves we are now facing a somewhat contradictory picture of generally, strong, US macroeconomic performance alongside growing evidence of cross-currents at such times. Commonsense risk management suggests patiently awaiting greater clarity and approach that has service policy makers well in the past Powell also signalled flexibility on reducing the Fed's balance sheet, and what's seen as the substantial pivot away from a bias towards higher borrowing costs. All right. Let's cross her to Singapore where Wes Goodman from the markets live team joins us. Wes, the Bloomberg dollar spot index fell to a four month low after the fed announcement yesterday is it really such a surprise. Oh, I don't know if it's a surprise. But the fact that he is. Really confirming. This patient stance is is what's driving things. Now. I mean, if you'll start going to rise as much as people thought, and they'll be less demand for dollar assets. The US currency will head lower already heading lower. And you know, the things that compete with the US currency like emerging-market currencies in gold can hit higher and to places we're seeing that today. The Todd in the Indonesian rupiah are both are both really on fire today. So that's already happening. That's FX say if we look at the Bloomberg news blog today, the markets live blog the question of the day is has the fed made socks immune to disappointment on trade talks. So let's talk a little bit about the equity side of things as well. How are you coming down on that issue? Yeah. Not one I answered by saying that, you know, it was concerns over higher interest rates that sense stocks down in February. And then again, even more so in December. You know, and now stocks can recover because the fed seems to be on hold stocks already, arm recovering. And in fact, the s&p five hundred is within ten percent of the record high because about nine percents away from the record. So I wrote this the shift from the fed can allow the S and P five hundred to to make another run at the record. All right west. Thanks very much. We definitely see that already revving up in markets yesterday and certainly feeding through into Asia today. Wes Goodman from the markets live blog for real time, commentary and market analysis checkout M L I V go on your Bloomberg terminal. Now, we've also got fresh data out to the world's second largest economy to take into account today. China's slow down has slowed a little the nation's factory gauged contracted in John Reid came in above the December level a gauge of new export orders. Also improved slightly. This comes as high level. Talks continue between the US and China. There are few signs that Beijing will bend to American. Key issues still remain areas of intellectual property and market access during negotiations today. President Trump is expected to meet with China's vice premier you her which who of course is visiting at the US capitol. Now, we talked briefly about Facebook to share surging extended trading after reporting fourth-quarter revenue that beat Wall Street. Estimates earnings also topped the street's expectations showing recent scandals haven't damaged the company too much. Bloomberg's Selena Wang reports Facebook ended twenty eight teen embroiled in controversy the public. Learn more about how the company let Russia manipulate users in election campaigns. It also revealed a major privacy breach affecting fourteen million people, but there's no sign of these scandals on the social networks balance-sheet strong advertising numbers for q four saw sales and profit come in better than expected and daily active users in December were up nine percent from year early. But the company warned that revenue growth would slow in two thousand nineteen in San Francisco. I'm sleet awaiting Bloomberg daybreak Europe. Tesla felon lay trade off to earnings fell short of expectations ended announced that CFO Deepak Ahuja will retire adjusted net income was a dollar ninety three share trailing the average estimate of two ten but speaking on the endings called CEO Elon Musk remained optimistic optimistic about being profitable in q one by a lot. But I'm I'm optimistic about being comfortable quarter scoreboard Tesla's earnings are coming under pressure. As it rolls out cheaper versions of the model three to keep deliveries moving production of calls for Europe and China began this month. Now, not in this diplomatic sources in Brussels. Tell us the European Union is prepared to take the Brexit drama to a last minute. High stakes summit rather than bow to new UK demands Theresa May wants to reopen negotiations despite the EU saying yesterday, there can be no more talks film, allow me to tell you very clearly yesterday's voice has further increase the risk of a disorderly exit of the United Kingdom to fair. We have to continue to do everything in our power for all of the possible scenarios, including the worst now as European Commission president John Claude Yonker, or I let's get some more headlines from.

Federal Reserve US Bloomberg Facebook Europe China Wes Goodman Theresa May Russia Matt Miller Asia London Jerem Powell CEO Nokia Severin Schwan Bloomberg TV ASX European Union
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:20 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"In thug growing faster in China for for the. Reason is a desire -bility. That was the CEO of the LVMH bound avenue. Speaking of what's going on in China, Foxconn is planning to make its LCD panels at Wisconsin. So reconsidering the plans that have previously been dumped this according to a roar. Reuters report wanna keep an eye on that. Because of course, Foxconn employees, so many people in making gear for apple as well as others. Now, speaking of jobs, let me get to sock. Jen report that I think a lot of people are paying attention to today. It is planning cutting jobs at its investment Bank to drive down cost after a trading slump in the last quarter. We're told the Bank wants to trim expenses by more than one hundred million dollars and potentially even more with cuts targeting. It's global banking and investor solutions again, this is sucked gen thing about cutting jobs is investment Bank. Sources also say the plan may be made public next week. And Deutsche Bank has added twenty traders, meanwhile, and sales people as well to it's Asia, fixed income currencies business. The move is part of a plan to grow share of markets in China, Sri, Lanka and Vietnam. According to an internal memo seen by Bloomberg the growth is to help land clients, including European companies operating in Asia with currency or rates exposure. Let's talk about trade Treasury Secretary. Steve Mnuchin is sounding optimistic ahead of a high level trade talks kickoff in Washington China. Speaking to Fox News Mnuchin said, there's a chance the US may lift all tariffs if China presents enough trade concessions, but Bloomberg trade reporter, Sean Don Donovan says investors need to be skeptical. And the Trump administration is a of China hawks American. They don't want to lift what they see is serious leverage over the Chinese side anytime soon. Mnuchin meets the Chinese officials in Washington today and Thursday alongside US Trade Representative Robert lighthizer, let's talk a little bit of a how this story might play out in the markets. We're going to cross over to Singapore where Wes Goodman from the markets live team joins us. Wes, great, odd Bjorn is all waste. So we've seen the Chinese Yuan rising to its highest level against the dollar since July is that in anticipation of these trade talks. Yes. Hi, good morning. Yes. Of course, the any good news on trade is helpful for China and the Chinese Yuan. You mentioned that Steven Mnuchin raised the possibility of the US lifting the tariffs, but you know, beyond that there's some speculation that. The rally that's been happening in the Chinese bond market may come to an end. And the reason that's important is because that would stop yields from falling in the nation. And if that happens Chinese assets may become more attractive to overseas investors, if overseas investors are going to be investing in China. The first thing they gotta do is by the you on. So that's all all helping the rally today. All right. We have the fed coming up. Unfortunately, not not trying to talk to you about it today. But we'll get your reaction tomorrow. Wes Goodman from the markets live team just type in M L Vigo go on your Bloomberg terminal. Yes. Lots to talk about this morning. Let's get some more headlines now from around the world here.

Washington China Bloomberg Wes Goodman US Chinese Yuan Foxconn Steve Mnuchin China Deutsche Bank LVMH Asia Wisconsin Reuters CEO Sean Don Donovan Steven Mnuchin apple Jen
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

10:41 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"To daybreak Europe. London D A B digital radio. Matt. I hope you warmed up ahead of tomorrow's Brexit vote. I am going to be talking a lot about it. Indeed excited. I've got to just do the rest of my job today. Hit the gym to get ready. And then I'll fly straight over to London to join the whole team. It's gonna be exciting. Indeed. I should point out that, you know, the whole world isn't focused on tomorrow's Brexit vote right now. Trae data is really the big concern for equity investors in Asia. We have all red arrows among the exchanges that are open. I say that just because Japan is closed for the day. But the hang Zang is down one and a half percent. In Hong Kong, the CSI three hundred is down eight tenths percent on the mainland. And then, you know, everywhere else from Taiwan to South Korea to Australia. We've got losses in equity index is and indeed if you look at futures futures are fairly negative as well in the US, the S and P mini futures are down eight tenths. A percent and European futures are also down so euro stocks fifty trading down futures trading down half a percent, footsie futures down half a percent. Dax futures down two thirds of a percent. So it doesn't look good. And I doubt any of this really is related to Brexit. That's not to belittle what's going to happen at Westminster tomorrow, but just to point out that there are a lot of other issues. In fact, there's a ton of issues. Yes. Go through today. And we will do that for you look at it. The rest of the data right now, we have well, there's no treasuries trade for a little bit. About an hour. Still because Japanese markets are closed right now. But you do have some strength in the yen against the dollar one. Oh, eight one right now. And you've got some strength in gold as well at twelve ninety two twenty one a Troy ounce. Fires other currencies are concerned dollar weakness against the euro, which cost one fourteen seventy nine right now and the cable rate is up to one twenty eight fifty one although the cable rate had been down. A few times this in this morning's trade sort of bouncing back and forth between gains and losses. But looks like it shows in a solid direction. Now, let's let me just give you the oil picture as well. Because you know, after the big slumps that we have this this recovery seems fairly stable. Now, we're looking at Brent trading down sixty one cents but still at fifty nine eighty seven and WTI down fifty four cents, but that's still at fifty one. Oh five over fifty dollars a barrel for NYMEX crude. As we speak. All right. That's the data this morning, if we delve into our top stories, we will talk about Brexit saying in a moment. First though, let's dig deeper into that Chinese trade data that was weaker than expected overnight. Bloomberg's Bryan cuts is reports now from Hong Kong both exports and imports unexpectedly fell showing the effects of the trade war and China's economic slowdown exports in dollar terms dropping four point four percent from a year earlier while imports dropped seven point six percent. Both the worst results since two thousand sixteen surplus with the United States rose more than seventeen percent to three hundred twenty three point three billion dollars. And this will certainly complicate China's discussions with the United States in Hong Kong. I'm Bryan Curtis. Bloomberg daybreak Europe. Let's get some more on what's going on in China across over the Singapore. Where Wes Goodman from the markets live team joins us. Good morning west. Why was the China trade data laid out for us? Why why it was so bad for stocks? Yes. Hi, good morning, everyone. Yeah. This was bad news all around, you know, exports fell that can be a signal of weaker production weaker manufacturing ahead imports fell which shows that consumer demand is weakening at home on the mainland and the overall trade balance increase, which which is only gonna fuel the trade tensions with the United States. So all the Asia stocks responding down today. Yeah. Hong Kong in particular was seeing the Hang Seng down by almost one and a half percent. We will talk more about these trade figures in just a moment. We'll go to Beijing. But I also want to scratch the surface then on Brexit with US. What's the outlook for the pound before the votes in the house of Commons tomorrow? Yeah. It looks like the outlook for the pound is brightening up a little bit. It looks like a hard Brexit that is leaving the European Union without an agreement is now probably the most excuse me, the least likely outcome. The least likely outcome. You know, which may help the pound the conventional wisdom is the problem. It will vote down the latest Brexit planned tomorrow. And I'll leave it to the political experts to discuss what's going to happen after that was froze the currency goes, you know, the hard Brexit, the hard Brexit would would probably be the worst scenario the worst outcome and that looks like a low probability now which should brighten the outlook for the pound a bit west. Thanks very much for joining us morning. Wes Goodman there from the team for real time market commentary analysis. Check out markets live by typing m L I V go on your Bloomberg terminal. Now Theresa May will warn in his speech later that the UK parliament will kill breaks it if her dealers voted down tomorrow as expected the prime minister will say that such a scenario would be catastrophic for democracy speaking to the BBC's Andrew Moore show. Meanwhile, the labour leader, Jeremy Corbyn has once again indicated that his party is ready to call a no-confidence. Ballot. Should the happen? What if he does news that vote do you immediately without a vote of no confidence in the government? We will table a motion of no commerce in the government at a time of our choosing. But it's going to be soon don't worry about it. So that was the labour leader, Jeremy Corbyn, speaking yesterday to the BBC's, Andrew marr, and the US government shutdown is. Still going on over president Donald Trump's demand for border wall funding, it's become the longest in modern history. And there's no end in sight negotiations are at a standstill, and there are no more talks scheduled for this week. Right. That's the politics in the UK and US. Let's also talk about crude oils rally, which is starting to sweep away. The pessimists prices are up around twenty percent since hitting an almost two year low in December and previously Barish. Hedge funds are slashing bets on falling prices and Saudi energy minister Okada Farley says that he is confident that the market will return to balance we look beyond the noise weekly, data and vibrations and the market and the speculators herd like behavior, I remain convinced that we are on the right track and the oil market will quickly returned to balance. If we find that more needs to be done, we will do. So I'll follow also claimed output cuts by the OPEC plus coalition had provided a lifeline to US shale producers. Meanwhile, investors await another important data point for Europe today following a slew of dismal economic. Reports last week. Bloomberg's John anger has the preview European industrial. Production is expected to show contraction of two point one percent for the year through November. It follows a string of disappointing ratings for the region last week with global trade tensions and recession phase souring market sentiment in the new year, it further complicates the picture for the European Central Bank. With trade is not betting on a hike in interest rates until next year. At the earliest in London joining Bloomberg daybreak Europe. And when it comes to corporate news this morning wa way has fired a sales director arrested in Poland on suspicion of spying. The Chinese company acted before Wang Wang way. John's even enters a plea saying that the incident has brought while way into disrepute it's been under growing scrutiny in several western counties, which suspect it may use which suspects rather may use. It's a quip to help Chinese spice way has rejected all such acusations say. Saying its products are indeed safe. Let's get the latest in global news that we gotta leeann guarantee. Good morning months. Greek Prime minister, Alexis tsipras in for itself week. See process said he'll call the confidence fatal governing coalition split over the Macedonia. Name change, then bugs, Ellen Huet Pratt. Reports majority will be put to test on Wednesday in a confidence vote in parliament see press will need to secure enough support among communities in peace and independent lawmakers to extend his government's lifeline or before to call snap elections. In essence Allen, Bob. Bloomberg daybreak Europe. The cockpit voice recorder of the Linux jet that crashed into the Jarvis in October has been found. Indonesian officials say human berates also discovered on the seabed they've previously retrieve the other black folks with flight data on it. The two month old jet questions the minutes off to take over on the twenty ninth of Taber killing one hundred and one thousand nine people on board. So then African leaders have bicycle. Congolese opposition leader Martin fair, you full recount of last month's presidential election. Bloomberg's pool Richardson has the details for you to lost to rival candidate feats to security and says the poll was rude. The constitutional court on Saturday demanding the electoral commission review the outcome regional heads of states that a recount would provide reassurance to the winners and losers in the election. Constitutional court is scheduled to begin hearing for you this case a Monday in Johannesburg for Richardson, daybreak Europe. And Venezuela's opposition leader was detained by secret. Peace offices on Sunday. And then released a short time later. Bloomberg's Laura reports the government tried to distance itself from what happened by saying. It was a unilateral action from a group of officials though is the head of Venezuela's national assembly and has recently led protests against the President Nicolas Maduro. The young leader is now calling for a nationwide protest on the twenty third of January in Santiago Chile lower million. Bloomberg daybreak Europe cable news twenty four hours a day on Aaron it takes on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm beyond guarantee. This is Bloomberg Markus. Thanks very much. Indeed Leon now the morning sports.

Bloomberg United States Europe Hong Kong China London Asia Brexit Jeremy Corbyn Wes Goodman Bloomberg Markus UK BBC president Matt Japan NYMEX Bryan Curtis
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:27 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Street. Good morning. I'm Nathan Hager. And I'm Karen Moskow. We are just about four hours away from the opening of US trading. Let's get you up to date on the news. You need to know at this hour. Stocks are falling around the world to begin the new year. The drop comes after a gauge for manufacturing output in China fell into contraction territory for the first time since may of twenty seventeen. Bloomberg's Tom MacKenzie has more from Beijing number in terms of the private gauge manufacturing builds on the Monday number. We got we the official data also moving into contraction for the first time since early twenty sixteen other major sectors will major drivers at economy here. Like real estate also consumer spending all taking down quite significantly right now Dow futures are down more than three hundred fifty points. The stocks Europe six hundred is off by one percent in Asia stocks in China dropped one point four percent. While Hong Kong's Hang Seng in. Index fell two point eight percent. Wes Goodman is a market strategist for Bloomberg. This report on China's manufacturing comes after similar reports in the US showing a soda in US manufacturing from the Federal Reserve Bank of Dallas. This is all evidence that the S China trade wars starting to bite we had seen President Trump and she talking by phone, but the message from the markets today is they need to do more than just talk hen adding to global growth concerns. Singapore's export reliant economy grew an annualised one point six percent in the fourth quarter. That's two percent below forecasts Italy's manufacturing sector shrank for third straight month. It's the latest sign Europe's third largest economy is on the brink of yet another recession Sweden's manufacturing activity slowed sharply at the end of twenty eighteen it fell to the lowest level since early twenty sixteen as production and hiring cold on the flipside UK manufacturing growth unexpectedly improved to a six-month high in December we get manufacturing data. In the US later this morning and incorporate news Netflix is expected to announce it is hiring activision blizzard Spencer Newman as its chief financial officer that comes after the video game maker said it intended to fire no men for reasons unrelated to the company's financial performance. It is five thirty two on Wall Street. Now, let's get you have to date on how stocks are faring. We check the markets every fifteen minutes throughout the trading day on Bloomberg in p futures are down thirty eight points. Dow futures down three hundred and fifty eight NASDAQ futures down one hundred and thirty six ten year treasury up seven thirty seconds yield two.

US Bloomberg China Europe Nathan Hager Karen Moskow Dow Tom MacKenzie Hang Seng S China Wes Goodman President Trump Beijing Singapore Hong Kong Asia official
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:45 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Europe on London D A B digital radio Matt's plenty of things to take into account today. We've got some fresh trade headlines pops moving the needle too much ahead. Over those g twenty trade talks that we're looking ahead to between presidents Xi and Trump, but we're also taking into account lots of fed commentary about the state of the US economy. The fed is fascinating to dissect. And I'm not sure if it's if the fed voices are driving the market too much yet. There's a lot of talk on both sides of the aisle as it were my favorite headline today is the Deutsche Bank shakeup. I mean, really Deutsche Bank has been shaking up for the last ten years. They've had four CEOs in the last five, so it's a constant state of shakeup and stock hits new low everyday. We'll see what happens in Frankfurt. As far as the broader. Stocks picture is concerned. Asian stocks up this morning pretty much across the board. Australian stocks kind of just treading water right now drowning slightly but otherwise you see Japanese stocks gaining the Nikkei up more than one percent. The hang up more than one percent. In Hong Kong, the broader CSI three hundred on the mainland in China. Also gaining sort of I think there's an opt there's some optimism coming out of the White House. Larry Kudlow has made some statements about the possibility of a trade deal saying that it can happen if China steps it up, of course, they're negotiating anytime. They make comments like that. So you've got to take everything with a grain of salt other other places in the market. We see oil coming back pretty well right now Brent crude is above sixty one dollars a barrel. So it's an eighty one cent gain. Nymex WTI is up sixty six cents a barrel. Fifty fifty two dollars and twenty three cents a barrel of a NYMEX WTI will cost you. And if you look at cross currencies you see the dollar, not doing very much, the broader bloom. Berg dollar index at twelve twelve almost completely unchanged right now. You do see a little bit strength against the end. Just a little at one thirteen eighty eight a little bit of weakness against the euro, which is trading for one twelve ninety seven the euro back down below one thirteen but coming up coming back a little bit. The pound also had fallen and is coming back a little bit. Just barely right now. One twenty seven five. So the pound is still stuck under one twenty eight right now US ten year yields coming up, but still down at relatively low level three point zero six is what we're looking at for is what you'll get paid. If you lend your money to the US government right now for ten years. So that's a look at the data. We give it to every fifteen minutes here on Bloomberg radio. Let me also break if you headlines on the Bloomberg terminal this morning LaFarge Holcim confirms the two thousand eighteen targets as well. As the strategy for twenty twenty two with twenty nineteen sales growth between three and five percent. And it also sees recurring e dog growth next year, at least a level of five percent. Like for like, we're also getting threes. Some comments from callers gone through his lawyer. His lawyer is commenting after speaking with the now, former Nissan, chairman, still chairman and CEO of rent. Callers go after his arrest in Japan says that he will. He denies reports that he paused trading losses at Nissan. So call is denying reports that he paused trading losses to Nissan. It's fascinating actually, any comments that we get out of Carlos gone are going to be really interesting because keep in mind that he is in a Japanese jail, and he's not allowed to just talk to his lawyer anytime he wants it's you know, they decide when they give him time to talk with his lawyer, and he doesn't get very many visitors in there, even though no charges have been officially press waiting for the meeting tomorrow between Nissan and Mitsubishi and Renault to see how this alliance is going to hold up. Let's get to the top stories. The other top stories we're following for you, Marcus mentioned. Fed officials will kick it off at the fed. We've heard from a host of policymakers speaking New York, Richard Clarita, back more gradual rate rises calling risks less skewed. The downside, but Saint Louis president James borders, more cautious saying officials must monitor possible cracks in the recovery and Atlanta's Raphael Bostick went even further saying he notes pockets of distress. Meanwhile, Kansas City's Esther George said, the China trade standoff, isn't helping okay. So it seems as if we've got some differences in tone between different FOMC officials. Also, we're all looking ahead to fed chair drone Powell speaking later on today for more on that. Let's cross over to Singapore. Now, where Wes Goodman from the markets live team Jones's west great to have you on. So what do we expect from Jay Powell today from your perspective? Yeah. Hi, good morning, everyone. Yeah. Like, you said we've we've heard from a number of these fed officials, but don't forget the boss is going to speak today. So that's that's where we're going to listen to, you know, I think the base case is that he's going to reinforce this idea of the gradual path of interest rate increases that may damp, some of the speculation about a pause next year and. Bond yields a bit higher? If he somehow somehow indicates that a pauses in the cards, maybe he might revive the idea of slowing global growth, then you know, we could maybe see a big stock rally, and like like you said earlier President Trump is blaming Jay Powell for the stock market losses that we're seeing that we've been seeing. So, you know, it's not the base case scenario the base case against for this gradual path of rate hikes. But we're definitely going to be looking for. It's almost like President Trump is in some kind of reality TV show. You know, he can he can make these comments, and he has been for a long time. But it's not affecting the markets. Really mean the dollar spot index is approaching a high for the year. Yeah. I mean, we've heard some concern that, you know, obviously when the president is bashing the head of the central Bank that could hurt the currency. But, you know, President Trump has done this before and, you know, the the Bloomberg dollar spot index is just last look about point three percent away from this year's high. So it looks like it's going to take out this year's high pretty soon. The thing is our rate hikes coming the next one will come in December. We can certainly debate about whether they'll be a pause or an end next year. But I think you know are higher. I'm an American when I say, our the US higher yields in the US, and you can get elsewhere helping the currency and the fed move stop next year. But they'll be a couple more a couple more rate hikes before the end, we can tell we can tell west. I so much Wes Goodman the American as we might call them from now on full real time market commentary out analysis. Check out markets live. That's M L I V on your Bloomberg com. It'll I'm surrounded by Americans. There's so many of us around. All right. Let's get back to the trade story could be a pivotal moment. Obviously in the trade war between the US and China, President Trump and president Xi, you're going to have dinner on Saturday night in Buenos ideas. The top economic advisor for the US. Larry cudlow says the president is open to a deal. But only if China steps up and produces new ideas issues of intellectual property theft must be solved. Forced technology transfers must be solved significant tariffs and non-tariff barriers must be solved. Issues of ownership. Have to be solved. President will probably reiterate his view we wanna world. Ideally.

President Trump US president China Bloomberg Nissan Deutsche Bank Nymex WTI Wes Goodman Frankfurt Larry Kudlow fed Europe Jay Powell Hong Kong Matt White House FOMC drone Powell Singapore
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:03 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"To daybreak Europe on London digital radio. So Matt it seems as if we can breathe a sigh of relief. Well, not not if you're long US stocks, so many people are because it looked like, you know, the only game in town pretty much in equities. And if you use the W E I function on the Bloomberg world equity index is and you see year to year today column only has green in it for basically North America. So Dow Jones and s and p five hundred they only have like two percent or less games left years date everywhere else in Europe is down. I mean big time. If you if you were long German stocks this year, you have literally decimated. Your well. They're down ten percent. And the footsie move is down more. We're talking about yesterday entered a bear market all it is officially in a bear market. So only Asian stocks seemed to be trying to stage a comeback right now. We have the hang up one and a half percent. But it got crushed yesterday. Right. So we have you know, the CSI three hundred is up one percent. But it was down like six. So there are green arrows there. And they're substantial the Thai is up two and half percent almost. But it was it was down six and a half percent yesterday. So they're trying to stage a little bit of a comeback, but it could be confused for a dead cat bounce. If you look in other asset classes across the globe. You see that? We have US treasury yields rising backup as well. So investors feel safe enough. It looks like to sell their US treasuries and pushes the yield back up to three point one seven percent. The yen is losing some ground against the dollar the greenback. Gaining on the Japanese. At one twelve thirty five and the dollar which didn't really act I think is the question of the day actually didn't really act to the sake safe haven. It's still losing ground today. The euro's up at one sixteen o seven and remember I said, I wouldn't call the pound anymore, but I'll still go out three six digits. It's at one thirty two. All right, one thirty two is where we're seeing starting this morning. We'll talk about that question of the day in just a moment. Let's cross over to Singapore. Where Wes Goodman from the markets live team joins us. Wes, let's kick it off. Then with what spin this global equity route Asian shares all stabilizing at some was just outlining for us. What's the outlook for US trading? That's hi, good morning, everyone. Well, of course, you know, the big thing is everyone's looking for an end to this week's selloff a signal that you know, the worst is over. So in the US the big thing right now is to look at this two hundred day moving average for the for the S and P five hundred. Yesterday. We closed a little bit below it. And people are saying that a close below the average, you know, at the end of the week will be bearish signed for next week and on the other hand closed above it will show. Investors are beginning to support the market and that allow everyone to sort of go home over the weekend and sleep a little more soundly so once looking at this two hundred day moving average get on your computers and. And have a look. Yeah. Definitely the Bloomberg makes that very easy. Also, you have the question of the day, which we were sort of chitchatting about earlier has the dollar peaked with its haven bid missing in action. So we didn't see people flocking investors flocking to the dollar as markets cratered over the last couple of days. Yeah. I mean, that's a little bit of a puzzle for sure perhaps one reason is that maybe, you know, people were focused during this global stock selloff people were more focused on the S and P five hundred and if they were thinking sort of the worst of it was in the US, perhaps that lead them to stay away from the dollar. But you know, in my view, you know, demand for the dollar is, you know, it's gonna continue we can expect to see the fed keep hiking interest rates. Remember, the chairman Powell just said he thinks we're still a long way away from neutral. And even though the president President Trump is criticizing the fed people are still betting on this. No, gradual course of rate hikes ahead. So I think we can look for higher interest rates. That'll send treasury yields higher attracting people to the US and helping the dollar. That's my answer to the question of the day. All right. If you are Bloomberg customer and wants to participate in the debate just to mlive go on your Bloomberg time at all, and you can get in touch with the markets live team markets live at Bloomberg dot net. That's the Email address. Thanks very much. Indeed, Wes Goodman, full real time market, commentary and analysis. Check out markets live. That's M L on your Bloomberg terminal. All right now, let's get to some of the other top stories of the day starting with US President Donald Trump. He's doubled down on his criticism of the fed blaming this week slide in US stocks on his central bankers. It's a correction that I think is.

US Bloomberg Wes Goodman Europe President Trump Dow Jones North America Matt London Singapore president chairman Powell two hundred day one seven percent three six digits one percent
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:02 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"But we're gradually moving to a place where they will be neutral. Not that they'll be restrained the economy, we may go past neutral, but we're a long way from neutral at this point probably. Okay. That was at Jerome Powell speaking. Let's get more market action. Now, we're going to cross over to Singapore where Wes Goodman from the markets live team joins us from west as I said, we're now seeing the ten year out of three point two percent handle this morning. What's behind the bond selloff? And and I suppose the question is will keep going. Yes. Good morning everyone. Well, the latest trigger for the sell off with this ISM report on services, the nonmanufacturing part of the economy yesterday, just another report showing strength in the US economy. Of course, you mentioned Jerome Powell. And in the clip you played he said, we're a long way from neutral. Now, of course, suggests that they still have several rate hikes to go. So the the path of least resistance for the fed is going to be to raise rates, the path of least resistance for bond. Yields is gonna keep rising. You know, I think right now what we're seeing is the sell off spread treasuries just took another lay down and Australian bonds are down, and you mentioned Japan and Japan bonds are down and yields are up, and we're just about at the time of the day is one here in Singapore. And Tokyo where the Bank of Japan has come in before. So everybody's waiting to see will they object to this rise in yields which is now as you said about sixteen basis points for the Japanese ten year yield. Or you know, as they mentioned in their last meeting. They wanted to be a bit more flexible, they would allow more flexibility in yields will allow you to rise a bit further. And so if they stay out today, we can we can presume that they're not not quite ready to fight it at the moment. So what is the real risk here of inflation getting real traction and picking up in my view? There are inflation pressures and the latest thing to pop up this news from Amazon that it's giving raises to its employees battle, of course pressure. Other retailers to follow WalMart comes to mind. You know, an Amazon has said it's going to lobby for a nation wide increase in the minimum wage, and you know, designs aren't just limited to the US. We've got German inflation picking up oil prices are rising and that'll translate into higher gasoline prices and higher prices all around the world. So you know, my view there are there are inflation pressures. And again, it's all a big backdrop for the fact to keep raising interest rates and for bond yields to keep rising or thanks very much. Indeed, Wes Goodman, Wes Goodman from Singapore and full real time market, commentary and analysis. Check out markets live. That's M L I V on your Bloomberg terminal. Now, we just have a red headline on the Bloomberg terminal this morning that I want to tell our listeners about Lee's plan announcing its intention for an IPO in Amsterdam as.

treasuries Jerome Powell Wes Goodman Singapore Amazon US Bloomberg Bank of Japan fed WalMart Tokyo Japan Amsterdam Lee ten year two percent
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:34 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Far. Farmers and ranchers and factory workers. We're giving our workers and businesses a level playing field. That was President Donald Trump. Of course, meanwhile, US trade officials in their Canadian counterparts are trying to hammer out a new agreement yesterday. Canadian foreign minister Christie a Freeland met with US Trade Representative Robert lighthizer in Washington. Lighthizer? We'll be meeting. Are officials have done and meeting on. Negotiation. The atmosphere continues to be. Instructive positive. Everyone is working with a lot of goodwill. I don't look forward to continuing my conversation. Candidate needs to reach a deal with the US by Tober. I in order to join agreement the US has already signed with Mexico. All right. Let's cross over to Singapore. Where Wes Goodman from the markets live team joins us. Wes. I think one of the interesting stories today is what's going on with the topics. It's down again, of course. But it has a lot to do with President Trump's focused now on the trade relationship with Japan. What's the story there? Yeah. Hey macaroni. Everyone. Yeah. You know, we had this this article in the Wall Street Journal saying that President Trump seems bothered seems bothered by the US trade relationship with Japan. And so that may be a sign that he's now he's now turning his focuses on Japan. And and you know, we'll we'll try to. Get the Japanese to buy more US stuff Justice. He's doing with the Chinese and not only that the yen is gaining. And that's another negative negative for Japanese companies it it makes it tougher for Japanese companies to sell their exports abroad. So you know, it's one it's a sign that the emerging market selloff is migrating from merging markets into the developed markets. Speaking of emerging markets. The emerging market index has fallen twenty percent from Thai. So that's officially a bear market. Do investors. Think that it can turn around now or is there? More pain to come. Yeah. Not yet. More pain to come. The main themes are still in place, which is that the fed is hiking interest rates in that that helps the dollar helps draw money to the US and out of emerging markets, and the trade tariffs are threatening to slow global economic growth. And there's this kind of consensus that that the US can withstand a slowdown Benner better than any of these emerging market nations. You know, so that's why stocks in Venezuela and Hong Kong and Russia are falling. You mentioned that the the benchmark index has fallen twenty percent. We have an P capital advisors saying that there could be an additional decline of another ten percent. So the the bargain hunters don't seem to be anywhere in sight. Just yet. All west thanks, very much, Wes Goodman there from the markets. Live team. Check out the blog on your Bloomberg type, m L I V go now today is jobs day in the US. Investors are expecting the data to cement a fed hike this month. Michael Mckee is Bloomberg's international economics and policy correspondent the consensus for another strong month of job growth wobbled a bit with yesterday's weak ADP report, but the lowest jobless claims figures since December nineteen sixty-nine short up the view that if US growth is peaking. It's not showing up in the payroll figures. Analysts still see August producing the lowest unemployment rate since that same year nineteen sixty nine the question for the fed. However, and thus for Wall Street is whether such a tight labor market will finally produce outsize wage gains that may feed into inflation. Once again, that's not the forecast, which means a strong, August may cement fed rate increase this month, but investors will probably retain doubts about another hike this year in Washington. Michael Mckee, Bloomberg daybreak Europe. Moving to the Middle East guitars, economy minister said the fifteen month embargo of his country by Saudi Arabia and three other nations has helped to push push push its GDP growth to the fastest pace in the Gulf shake Akhmed been yazmin bin Mohammed Al Tani made the comments in an exclusive interview with Bloomberg. I can tell you today that the embargo or the locate unclutter unjust, the blockade by our neighbor from point of view behind this. We're doing excellent, in fact from economic point of view, it's a blessing. And we'll bring you more from that exclusive interview with guitars economic economy minister, Al Tani later this hour now in another huge interview for Bloomberg Jack, Ma is laying the groundwork for a future away from Alibaba the company he founded and turned into an ecommerce juggernaut. China's richest man said he is dedicating more of his time and fortune to philanthropy now with the creation of a foundation focused on education following in the footsteps of fellow billionaire Bill Gates, I think someday and very soon I'll go back to teach this to go back to education. This is something I have more confidence. I think I could do much better than beat Alabama. Ceo. And that was Alibaba's executive chairman, Jack Ma let's get the world national news headlines right now for that. We go to leeann guarantee. Leeann good morning, mass Brazil's presidential election campaign has been jilted after the leading candidate was stabbed during his street's rally. His icon the controversial former army officer CIA Bolsonaro through want had already been a Rookus race into an even greater state of turmoil. The right wing lawmakers conditioned has now stabilized and Brazilian trade is betting the incident could help propel him to the presidency. Sweden's traditional political blocs are running neck and neck ahead of Sunday's election. That's according to the latest poll by scope, Bloomberg's Raffaella Lindenberg reports the governing social Democrats is headed for its worst relection results in history and the biggest opposition party. The more grits is also struggling to claim lost support is voters have fucking to the Sweden. Democrats a nationalist anti-immigration party, so far the tumor. Most likely governing locks in a dead heat in Stockholm. Bloomberg daybreak Europe, British Airways has always pleased to investigate data hack, which potentially compromise the car. Details of around three hundred eighty thousand.

US Bloomberg President Donald Trump Wes Goodman fed Michael Mckee Japan Europe Washington Wall Street Journal Bloomberg Jack Singapore Alibaba Robert lighthizer Christie a Freeland Sweden Stockholm Mexico
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:37 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Right it seems. That we've lost a Yousef for. A moment out of Dubai will of course be going back. To him as and when we get that signal, back let, me talk you three smother breaking lines in the meantime Banco Santander's second quarter net income coming in at one point seven billion euros better than the estimate of one point six seven billion euros Santa there says that it's confident that it will achieve its two, thousand eighteen goals, that is according to an boughten, the chair of. Santander also coming through doc- stems it seats full year IS eighteen non IFRS revenue at between three point four one and three point four four billion euros Dosso systemic racist it's EPS, guidance for, two thousand eighteen also chemicals company Clariant in Switzerland first half adjusted EBITDA five. Hundred twenty, four million Swiss francs four hundred and eighty two point Five million Swiss francs that was? The estimate there for. Clariant, the two thousand eighteen outlook is confirmed meanwhile let me just talk, you? Through some other lines also breaking from Deutsche Bank let's just to go back to the German lender Deutsche Bank says that it's reaffirming its twenty eighteen adjusted cost. Target of twenty three billion euros that's an important detail that, I just wanted to mention to you will of course be, coming back to Georgia banks links we will be bringing. Our, listeners Yousef more. Details throughout the morning yeah finally found the right password somebody change it without telling me let's go straight into some of the key stories here cross over to Singapore. Where Wes Goodman from the markets live team joins us so straits inflation data that basically showed that the, central Bank is having trouble meeting. At school so what's the outlook for. The Reserve Bank of Australia here. This good morning everyone yeah the Australian inflation data was the. Big news out of Asia today The data I think shows that the the RBI is is trying to help its economy and and it's going to need. To continue to provide help to the economy it's holding its main. Interest. Rate at a record low. Of one point five percent and, it will continue to to keep that record low you know that'll that'll hurt the AUSSIE because rising rates in the US will attract. Investors to US dollar assets and also speaking of the AUSSIE the threat of a slowdown in. China could hurt the Australian dollar because China's the biggest buyer? Of Australia commodity exports. Including, iron ore so that would be another negative for the Australian currency Well that explains why the AUSSIE dollar's down more than five, percent this, year and it will probably have a tough time recovering. Those losses, yeah off by another four tenths of a percent against the greenback just this morning we also need to talk about the US yields. And that's yield curve west because in the US bidding rose at a two year treasury auction yesterday what's the outlook then for the. Five-year sale today as what's the seven year auction tomorrow Yeah. You know I think these. Midterm treasury securities are kind of the sweet spot in the treasury. Market now for two year notes or, the shore, a very short maturity's fed. Interest, rate hikes will probably send yields up their prices down for those shorter maturities for the longer maturity like tencent thirties we've talked a. Lot, about the flatness of the yield curve that means that longer maturities don't offer, much extra yield even though they carry a lot of extra risk so they're not so attractive so I think fives and sevens or kind of the, sweet spot and I think the auctions five today seven tomorrow seven tomorrow we'll go well West good to. Speak to you this morning. That said Wes Goodman quick reminder for real time market commentary and. Analysis check out the markets live blog, that's mlive, on your Bloomberg terminal. Marcus We need to dig deeper into our. Other, top stories this, morning European Commission chief John Claude Yohnka: will be meeting with the US President. Donald Trump in Washington today in an effort to prevent an international fight. Over call tariffs Bloomberg's Jonathan stunts says you will float the idea of coordinated cuts in auto tariffs by major economies Yonkers hope is to stave off. A threatened US duty on imported cars it would, be based on the same national security grounds Trump cited, to justify controversial tariffs on. Foreign steel and aluminum failure to find common ground risks, repeat of what happened over the, American metal tariffs, namely retaliatory duties on, billions of dollars of US goods imported into Europe and elsewhere only the scale of the.

US Yousef Banco Santander Bloomberg Wes Goodman Reserve Bank of Australia Clariant Dubai Deutsche Bank Donald Trump treasury Switzerland AUSSIE China Santa Asia Australia tencent Singapore
UK top diplomat warns no Brexit deal 'now a very real risk'

Bloomberg Daybreak: Europe

03:55 min | 2 years ago

UK top diplomat warns no Brexit deal 'now a very real risk'

"Wes Goodman full real time market commentary on knowledge this check out markets live that's m. l. i. v. on your Bloomberg terminal all right let's get back quickly that g twenty, meeting in Buenos I this the world's top finance chiefs have warned that trade tensions threaten global, growth is engines as the engines. Of leading economies fall out of, sync g twenty finance ministers and. Central bankers said in a statement published at the end of their two-day summit in. The Argentine capitol. That global, growth remains robust and many emerging market countries. Are better prepared, to face the crisis but risks to the world economy have increased it when it, comes to, corporate news this morning the former head of at Chrysler Sergio. Marconi remains, in intensive care struggling with complications after. Shoulder surgery according to the Italian news agency, answer the automaker named fifty four year old Britain And. Mike Manley to replace. Him. Over the weekend and as Bloomberg's Denise pelligrini reports. The choice shows that Fiat. Chrysler thinks it's future is all about Jeep Manley's. Been head. Of Fiat Chrysler automobiles Jeep brand since two thousand nine. And he, has a reputation for inspiring. Here's loyalty and getting the job done but he'll also face a lot of challenges including raising GPS profile in China meeting Beijing's rigorous fuel economy standards electrifying the company's lineup and boosting Alfa Romeo and Maserati GPS Lynch pin at the company's plant double prophet in the next five years and some analysts estimate Jeep alone could be worth, the entire market value of FIA at Chrysler Denise Pellegrini Bloomberg daybreak in Brexit news this morning, Amazon's UK head Doug girder has. Reportedly said there could be quote, civil unrest within two weeks if. Britain leaves the European Union with no deal the times newspaper says the warning was Given, a meeting on Friday organized by. Brexit secretary Dominic Robb it makes Amazon. UK the first business to issue issues, such a stark assessment of the threat posed, by a no deal Brexit quite scary girder girl from Gherman anyway let's move onto some other headlines from around the world we're gonna kick it off with Donald Trump really who's dominating once more let's. Say kick it over to Leon GARRETT'S good morning good morning Markus everyone's political leaders warning President. Trump in no uncertain terms not threaten his nation's. Oil exports exports. Hasaan Ruhani he said the US would be sorry, if it reimposes sanctions Iran. Name is the Americans say they won't allow Iran. To export even a, drop of oil Iran is that week what are you thinking what you cannot do such a thing we will stand up to you we are people have resistance the entire Iranian nation will resist, Meanwhile President Trump. Wound, around not a threaten the US. Tweeting that the country would. Face consequences really seen in history French president Macron has ordered a staff, shakeup after. Video emerged showing his aide beating up a protester officials say being beg scrape Fiske's says Macron has not said a public word. About what's. Shaping up to be the. First real crisis of his presidency parliament Monday will addition. The interior minister and the head of the, Paris police to understand why, security aide, to the French president meeting protesters. On may, first and. Why. The presidential palace kept it quiet and allow the to. Keep managing macaroni security are, we, Macron was singing. And dancing, in the dressing room of. France's victorious World Cup, team now retreated from public view in Paris Gregory Cousy Bloomberg daybreak Europe one woman's died and Thirteen people have? Been injured after a? Gunman opened fire in the Canadian city of Toronto details on scares but. Witnesses say a man opened. Fire in the Greek town area. Of, the city a place no info popular restaurants say the suspects shooter is dead and it's all change in Spain's..

President Trump Bloomberg Macron Chrysler Fiat Iran Britain Mike Manley Paris UK Denise Pellegrini Bloomberg Chrysler Sergio Amazon Gregory Cousy Bloomberg United States Wes Goodman Jeep Hasaan Ruhani
Stocks, commodities recover after latest trade war jolt

Bloomberg Daybreak: Europe

04:30 min | 2 years ago

Stocks, commodities recover after latest trade war jolt

"Very good morning from london i'm markus karlsson in dubai remarkable choppiness in commodities marcus that really sets the stage for these slight shifts in how investors feel about these trade tensions yeah absolutely i think there are plenty of england fans licking their wounds after last night's game against croatia and the same probably goes for commodity traders as you were just alluding to the bloomberg commodity index dropping by the most in three years yesterday trade concerns front and center of course that being said we all sing a little bit of a relief rally taking hold in asia this morning the asia pacific index the regional benchmark when it comes to equities is rising by about a quarter of a percentage point we are seeing green arrows essentially across the board in the asian session with the nikkei two to five index for instance rising by one point two percent the shanghai compared jumping by two point one percent as i look at it now when it comes to commodities crude prices all studying after what was the sharpest plunge in two years yesterday brent crude rising by one and a half percent wti advancing by six tenths of one percent metals also going back some of their losses from yesterday cooper for instance rising by eight tenths of one percent after its biggest fall since december on the enemy yesterday goldman sachs has cut its outlook for metals that needs to be said while ubs says china's actions will be key going forward when it comes to fx the bloomberg dollar spot index holding onto gains from yesterday perhaps weakening marginally edging lower by zero point zero eight percent as i look at it now it's a little changed against the euro perhaps the single currency strengthening somewhat against the yen though the greenback has risen to its strongest in six months with dollaryen trading at one hundred and twelve spot twenty one which means that the japanese currency in this session is off by now the two tenths of one percent yousef yeah marcus let's cross over in singapore where wes goodman from the markets live team joins us so this rebound relative rebounds now a lot of conviction in it what what what do you think the driver of that is is it is it the trade tensions perhaps yeah or an easing of the trade tensions maybe morning everyone we have this article at the top of the top page on bloomberg saying the us and chinese officials are hinting at the prospect of another round of negotiations so that's that's helping both stocks commodities today you know and i think investors have had some time to put yesterday's news into perspective bit you know this this list of tariffs that the president asked for president trump ashley requested this list this list of additional tariffs in june so you know it's been coming for several weeks and it won't be finalized for for several more weeks and you know so it'll be a long lag before these extra tariffs or possibly implemented there might be a might be a compromise in the meantime i think you know there's just been a break in the frantic worrying that's been going on and you know as we said earlier as you said earlier leading to a little bit of a relief rally now you're also right saying that the calm in treasury markets shows that commodities have fallen too far of course a lot of the focus in these markets has been on commodities in the past twenty four hours talk us through your thinking yeah in kind of a minority here but looking at copper you know people are saying the copper is this really terrific gauge of how the economy's doing it is but if you take copper as a gauge of how the economy's doing and you know the trump tariffs are going to slow growth and that sending copper and all these other commodities down you know so in other words that's very negative view of what's in store for the economy but i like to look at the treasury market and i'm saying you know hang on a second treasuries which are one of the world's biggest markets are little changed you know and this is also a market that is driven by expectations for growth and inflation you know so we have one market that's that's tumbling and another that hasn't done anything you know but for me i like to give more more way to the signal from treasuries which is at the tariffs have done enough yet or they don't have enough to slow growth that much if that's you know if that's the.

Markus Karlsson London Dubai One Percent Zero Eight Percent Twenty Four Hours Three Years Two Percent Six Months Two Years
China's consumer inflation picks up in June

WGR Programming

02:26 min | 2 years ago

China's consumer inflation picks up in June

"With brent crude at seventy eight dollars and sixty one cents higher by about two thirds of one percent this is a us government report is expected to show a decline in stockpiles for fourth week out to the past five yousef yeah let's cross over to singapore where wes goodman from the markets live team joins us wes chinese consumer prices for june came in at one point nine percent producer prices were slightly higher than expected at four point seven percent what these figures say about the outlook for the pbc right hi good morning everyone well you know especially the one point nine percent gain in consumer prices i think shows that inflation is in check and this will give the pboc room to ease policy to keep easing policy as the the us us tariffs threatened to to slow growth in china the pboc seems to be pursuing a policy of targeted easing for example by freeing up money for banks last week the socalled triple arcot and there was a central bank adviser today who said there's room to keep pumping money into the money market to keep adding liquidity which has the effect of bringing yields down so inflation in check that will allow the central bank to keep taking these steps what we're calling targeted easing steps which it has been doing to help the economy another story that we're looking at west is these continued gains that we're seeing in asian equity markets the topics index higher for a third consecutive day alongside the asia pacific index as i was saying earlier what's driving this advance and this advance in japan particularly right yeah you know for the past couple of days the all the action has been in china stocks but today it really focused on japan there seems to be some strength fair and that comes in tandem with a weakening in the yen again is approaching its lowest level since january and keep in mind not essential theme for all these asian countries is that a weaker currency helps them keep up demand for their exports so the yen is weakening that's helping japan stocks the topics still down more than five percent this year and so maybe some help for the currency heading into the second half will will help stocks recoup some of those losses there you have it right wes goodman thank you very much for.

United States Japan Yousef Singapore Wes Goodman Producer Pboc China Asia Nine Percent Seventy Eight Dollars Seven Percent Five Percent One Percent
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:40 min | 2 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"See you and speak to you that's wes goodman from the markets live team of course reminded that you can go to dm function on the bloomberg terminal four more real time market commentary and analysis maybe even you can see wes goodman marcus or right yes take a look at west goodman and his commentary of more than anything on that to markets live blog let's dig into our top stories and trade as i say very much front and center china has slammed the impending us tariffs saying that they will harm american other nations if the trump administration pulls the trigger as planned on friday gow fang china's commerce ministry spokesman has been speaking as the us is expected to impose tariffs on thirty four billion dollars worth of chinese exports tomorrow he also says that china won't bow to threats or blackmail if the us goes ahead and imposes these tariffs yeah and we've heard a similar story from australia straight tourism and investment minister stephen chabot who spoke exclusively to bloomberg earlier this talk of dynamic if it comes to pass is unfortunately not good for global growth and we will see an impact from that now the extent to which that impact actually is either mitigated all we feel the full force of it well we don't know it only time will tell stephen australia's minister for trade tourism and investments speaking exclusively with bloomberg from tokyo meanwhile the escalating dispute between china and the us hasn't developed into a fullblown trade war that's according to michael falcon j p morgan asset management's asia pacific ceo he says tariffs set to go into effect tomorrow are extremely minor from an economic point of view and i think we call it a trade war yet we certainly don't think you'll know when it's a trade war the the tariffs that are set to go into effect on friday in retaliation responsive tariffs from china have been telegraphed for quite some time and they're still extremely minor michael j p morgan asset management asia pacific ceo speaking on bloomberg television earlier yeah some ecb policymakers are set to be uneasy investors are aren't betting strongly on an interest rate hike until december of two thousand nineteen now sources tell bloomberg that move is actually on the cards at september or october next year caroline look has the details from the european central bank announced in june will end net bond purchase this year it also said that interest rates will stay unchanged until at least through the summer of two thousand nineteen something which many have taken to mean autumn what's happened since then however is that dovish rhetoric by policy makers seems to have pushed investor expectations for a rate hike too late as december what we're hearing from our sources is that some policymakers are easy about this market expectations as a move in september or october next year is still in the cards depending on the economic environment in frankfurt this is caroline look for bloomberg daybreak europe we also need to talk about brexit this morning a compromise proposal per forward by prime minister theresa may that aims to unite warring ministers is said to have been rejected by her chief negotiator brexit secretary david davis has written tomato tell her that her new idea for how customers should operate after the divorce is unworkable that's according to a person familiar with the situation bloomberg's alex morales has more than you customs plan combines elements from two options that ministers were split over in an attempt to bridge the gap kate would collect tariffs on goods crossing the border that are destined for the eu and at the same time bureaucracy would be kept to minimum through technology accrediting companies.

wes goodman thirty four billion dollars
China drags on Asia shares, politics on euro and peso

Democracy Now

03:37 min | 2 years ago

China drags on Asia shares, politics on euro and peso

"Radio we did see asian stocks capping their worst quarter since two thousand fifteen on friday they've kicked off this week on a negative note as well with the benchmark mci asia pacific index off by about eight tenths of one percent where seeing japanese shares leading the way lower here the nikkei two five index off by one point four percent hong kong is closed because of a national holiday we're seeing the shanghai composite and also off by about one point one percent so chinese sheds receiving their declines we did see a little bit of a left on friday but as i say we're zooming declines looking into the fx space the bloomberg dollar spot index lifting by about a quarter of a percentage point we are seeing euro dollar coming under pressure german politics very much in the spotlight your trading at one spots at sixteen forty eight we're also looking at chinese yuan off by about two tenths of one percent mexican peso very much in the spotlight now declining by half of one percent against the us dollar we'll talk more about that in just a moment all prices slipping this morning after a rather bizarre weekend donald trump tweeted that saudi arabia had agreed to increase our ports only for those comments to be walked back by the white house wti this morning at seventy three dollars and twenty nine cents declining by about one point one percent yousef marcus let's get onto our top story andrea lopez oberdorf is poised to become mexico's i left wing president in decades with exit polls showing he's headed for a landslide victory actually just finished a speech in mexico city survey by the newspaper el financiero gave lopez oprah door who's about to end graft and violence forty nine percent of the vote ahead of candidates from the two business friendly parties even though no official results of this is supporting the public just yet the numbers were decisive enough for the two main challengers to concede and as i said earlier we have of course seen the mexican peso respond to this election results we're going to talk more about the market reaction now we're going to cross over to singapore where wes goodman from the markets live team joins us wes let's pick it up then with the mexican peso it jumped as address manoel lopez alberto won the presidential election those gains have fizzled out what's the outlook for the currency now yes hi good morning everyone i think just because he won the vote the vote is over there was a bit of a relief rally and when i say a bit you know it was even a bit surprising to me how quickly the thing reversed it already has given up its gains and his falling now well remember the mexico peso fell eight percent in the second quarter and the reasons for that are still in place the us dollar is rising and president trump in one of his latest tweet said he's still not happy with nafta and there's concern that more broadly us tariffs will dampen or reduce overall trade overall global trade you know so i i i thought the currency market was going to give him a bit of a honeymoon but now looks like he's not gonna get one after all yeah the folks at that mizuho meghan td securities underscoring than a lot of this has been already priced in and a lot of it depends as well on what cabinet comes together the other big story from china really dragging down the broader asian asian gauges as it were tiny stocks falling again after capping a six week of losses on friday kenny they recover as the us and china plan to implement trade tariffs this this week i.

One Percent Seventy Three Dollars Forty Nine Percent Eight Percent Four Percent Six Week
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:11 min | 3 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"The euro dollar twenty a one the yen one zero nine point eight three bomb china is weakening is currency handle trade talks with the us the people's bank of china weakened its daily fixing more than traders expected with some currency strategist calling the move aggressive more from bloomberg markets reporter wes goodman there are a couple of furious about what the thirties they're trying to do one theory is that china is signaling it's willing and able to weaken its currency to maintain demand for exports and a second theory is that it may give china room to strengthen the currency later on if that's what the us asks for the larger message is probably that china sees a serious risk to its economy from these trade talks and it's trying to take steps now to mitigate those risks the trump administration meantime is downplaying prospects for a breakthrough in talks with china this week trade representative robert lighthizer says resolving differences will be a big challenge in talks could continue for the next year we're getting economic data out of europe this morning euro area growth slowed to four tenths of a percent in the first quarter that's the weakest reading in six quarters and comes after 2017 saw the euro area economy posted its best performance in a decade at the same time you're area manufacturing for april grew at the slowest pace in more than a year yet another signal that the region's economic expansion is continuing to slow here in the us the federal reserve wraps up its policy meeting today and it's likely to keep interest rates unchanged michael mckee has more from the bloomberg ninety nine ninety nine one newsroom in washington the fence decision isn't whether to raise rates they're not expected to but whether to hint another move is coming in june the central bank's preferred inflation gauge the index is finally back to its two percent target and with unemployment around four percent policymakers can say they've met their mandates under their own scenarios that means at least two more rating creases by the end of two thousand eighteen if they don't move now because there's no press conference at this meeting june is the next logical time so the questions are do they signal that in their statement or do traders think they do with an updated assessment of the inflation outlook in.

china bloomberg markets robert lighthizer europe us michael mckee reporter wes goodman representative washington four percent six quarters two percent
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 3 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Date wes goodman for real time market commentary and analysis check out markets live that's an ib arguably back onto some of our top stories this morning the brexit secretary david davis has told british lawmakers that practical measures to resolve the irish border question could take quote years speaking in the house of lords davis also hinted that the government will try to tie the brexit bill payments to a potential trade deal with the eu lesson we get to a substantial agreement if we the commission it's time travel and then we detail that in legal terms between october and point of departure but a talk because you can never be sure your negotiation off so that was david davis speaking now as i mentioned later today you came ministers will discuss how they see the trading relationship with the block after brexit negotiators also due to resume talks in brussels with the issue of the irish border still the biggest risk to a deal that said britain has drafted a new proposal that it hopes will help to break that deadlock theresa may perhaps pushing a customs partnership with the eu going forward that may be a bridge too far for eurosceptics something certainly to keep an eye on meanwhile when it comes to a corporate these this morning apple has reported revenue and profit that beat analysts estimates it's also boosting its dividend unprotected continued sales momentum more from bloomberg's charlie pellett the report calmed concern about demand for the iphone it's most important product apple also unveiled a new plan to return more money to shareholders than set services sales jumped thirty thirty one percent apple sold fifty two point two million iphones in the fiscal second quarter up two point nine percent from a year earlier analysts had projected fifty two point three on average although some investors expected fewer units the average selling price seven hundred twenty eight dollars versus analysts expectations of seven hundred forty that suggested the flagship iphone ten did not perform as well the some anticipated when it launched last year in new york charlie pellett.

david davis brussels britain eu apple bloomberg charlie pellett wes goodman secretary theresa new york seven hundred twenty eight dol thirty thirty one percent nine percent
"wes goodman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:32 min | 3 years ago

"wes goodman" Discussed on Bloomberg Radio New York

"Cut these reserve requirements just just set the market on fire today and so we had ten year yields yesterday yesterday at about three sixty six three point six six percent and then some people early today thought the next target might be three point five and you know we already got there by the end of by the end of the day and now we have some people forecasting three point four down another ten basis points so that's probably the next target but you know for the moment it just seems like this rally has really taken on a life of its own three point five one percent for chinese dow fifteen basis points this power but then i mentioned chinese stokes ashi they're fooling the cy three hundred for example even though the central bank actually just took this big step to support the economy so why that's a bit of a head scratcher isn't it one theory is that the central bank move because policymakers cnn to do things that will help the economy they see a need for assistance to the economy and that would fit in with the idea that bonds rallying no there was also news today that the china's going to open up its auto factories to foreign ownership and that could be siphoned money away siphoned revenue away from chinese companies and then of course you know there's friction over tariffs lurking in the background behind all this so you know it adds up to a big fights equality today a flight from stocks and into china bonds today all right wes goodman reporting that for our markets live team thank you very much.

china cnn wes goodman five one percent six six percent ten year
China stocks: Down $1 trillion

02:25 min | 3 years ago

China stocks: Down $1 trillion

"Big driver on retail with gains of thirty five point four percent and investment in environmental protection up thirty four point two percent steady growth is the key enabler here for president xi jinping's mission shore up financial stability reduced poverty and curb pollution in hong kong i'm bryan curtis bloomberg daybreak europe okay so that's the summary of chinese g gdp let's cross over to singapore where wes goodman from our markets live team joins us this morning we get heavy on the program gdp met expectations west at six point eight eight percent why stokes in the conscious juggling today those are mentioned right yeah you know there were a bunch of numbers out of china today but the main figure on gdp matched expectations so there's probably not of not a lot of reasons for investors to change their views all that much on china you know in one of those views the government can keep going on with its de leveraging efforts that is getting companies to cut back on the amount of money they borrow and that won't be good for stocks and the nation is still facing likely trade tariffs from the us and and president trump you know launched a new round of criticisms about about china and its currency you know stressing that he wants china to buy more stuff so this will explains why chinese stocks are down still lots of negatives for chinese stocks and you know the emphasis on china getting to buy more more us goods may explain why s and p five hundred futures are up today in fact that the highest level in almost a month all right speaking over china buying us staff west data shows that china resumed its purchases of treasury so would put a stop to speculation that beijing might sell its holdings of us debt to retaliate against trade tariffs well remember that china is america's biggest foreign creditor the biggest foreign holder of treasuries and there's been all this speculation that it might resort to you know the nuclear option which would be selling treasuries as a way to retaliate against the the trade tariffs now one thing to keep in mind about these numbers if there is that there for february which is you know a couple of months ago but they certainly do suggest that china's going to use its treasury holdings as a tool in the trade talks you know based on these latest figures china.

Hong Kong Bryan Curtis Stokes China United States President Trump Xi Jinping Europe Singapore Wes Goodman Beijing America Eight Eight Percent Four Percent Two Percent
Apple to build it's own screen

02:20 min | 3 years ago

Apple to build it's own screen

"Of one percent the topics is also nine tenths of one percent also have this popularity plunge for shinzo rb the japanese prime minister that is also rattling markets japanese j g yields on the ten year note for note point north three five percent the japanese yen also strengthens up by three tenths of one percent this morning trading at one eight five spots seventy two as for the united states the bloomberg dollar spot index is stronger a tenth of one percent the sp five hundred broke out of its longest slump of the year on friday a bit of an upturn us yields though pretty much steady at the moment trading two point eight five two percent a little bit firmer and then just other things in the markets oil slips as us explorers resume their drilling been so you've got a deeper for wti crude down about half of one percent brent crude also lower half of one percent trading at sixty five dollars ninety one cents the barrel bitcoin lower down to two percent but having said that we're above eight thousand eight thousand three hundred forty three after bitcoin tumbled so much let's get more of the markets by crossing over to singapore where wes goodman from the markets live teen joins us wes great to have you on the show was always in happy monday to hugh so carolina was just talking about the political story in japan which has rattled rattled the yen and yen traders there's another big story though in the asian space and this when it comes to equities because we are seeing tech shares coming under pressure and the asian trading session on the news that apple suppliers essentially are sleeping as the company is set to develop its own screens good morning everyone yeah you know we we came into work this morning thinking it was going to gonna be a bullish day for stocks and the apple news really put a damper on that idea attack of course bore the brunt of it samsung samsung electronics japan display and sharp were all down you know one interesting twist on all this is that it suggests value stocks can outperformed for awhile and growth shares will underperform no growth shares would be companies like apple or microsoft while an example of a value stock would be berkshire hathaway so it may be time for value stocks.

United States Apple Bloomberg Singapore Wes Goodman Carolina Japan Samsung Microsoft One Percent Eight Five Two Percent Sixty Five Dollars Three Five Percent Two Percent Ten Year
President Trump halts Broadcom takeover of Qualcomm

Bloomberg Daybreak

01:38 min | 3 years ago

President Trump halts Broadcom takeover of Qualcomm

"Nine percent at nine thousand two hundred seventy nine dollars john and we begin with the end of broadcom's proposed one hundred seventeen billion dollar takeover of qualcomm president trump has signed an executive order blocking the deal bloomberg's wes goodman reports from singapore there's been this increasing apprehension in washington about the acquisition of american technology assets especially by china and this move suggests that this apprehension is concern is hitting a new high so the president seems to be willing to sacrifice some business concerns to national security concerns you know and don't forget broadcom had not only offered to make this acquisition but had also offered to move its headquarters from here in singapore to the united states although broadcom is based in singapore china loomed large over the us fears about a foreign takeover of qualcomm bloomberg daybreak editor sharon chan brings us more from singapore it's interesting about this is that it's unprecedented given the government doesn't usually intervene when a deal hasn't even been reached and it seems that the messages us tech is not for sale and there's no way that this administration is going to support any merger that might disadvantage us company cheers of quantum are currently down about five percent in early trading on the economic front the us government issues its latest report on inflation at eight thirty am a wall street time economists forecast consumer prices rose two tenths of a percent in february bloomberg's michael mckee has a preview there's general consensus among economists that inflation is going to rise this is not the month it does many of the sectors that rose in january.

Broadcom Donald Trump Bloomberg Washington China President Trump United States Sharon Chan Michael Mckee Qualcomm Executive Wes Goodman Qualcomm Bloomberg Editor Nine Thousand Two Hundred Seve One Hundred Seventeen Billion Nine Percent Five Percent