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Apr 23, 2024
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services is the driver for the uk uk economy above the estimate of 53. similar to what we saw in the eurozone which was expansion. however, it was led by services with manufacturing in contraction territory. flash composite above the estimate of 52.6. manufacturing in contraction at 48.7 which is below the estimate of 50.4. services continues to be the driver at 54.9 which beats the estimate of 53. a surprise to the upside with services. > >> just as a reference point for viewers, i looked at the potential rate cuts from the bank of england, frank. they are pricing in a 75% chance of seeing the first cut in the month of august. let's see how the data will continue to pan out. with the latest data in mind, i want to take you to the equity markets in europe. we are seeing the major boards trading in the green. we have seen the ftse 100 crossing above the 8,000 mark hitting the fresh record high. it is up by about .30%. we have seen a lower sterling and weaker sterling and investors piling in on the market which contributed to the momentum with the uk equit
services is the driver for the uk uk economy above the estimate of 53. similar to what we saw in the eurozone which was expansion. however, it was led by services with manufacturing in contraction territory. flash composite above the estimate of 52.6. manufacturing in contraction at 48.7 which is below the estimate of 50.4. services continues to be the driver at 54.9 which beats the estimate of 53. a surprise to the upside with services. > >> just as a reference point for viewers, i...
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Apr 19, 2024
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treasuries and european bonds. >> let's bring the conversation to the uk. we are also monitoring what the bank of england is saying and similarly to the united states, there's an upcoming general election we know when it will take place. how do you think about the vote and commentary from the bank of england and what it means for the bond market? >> in terms of the election. the election has not been talked about that much because both looking to the the approach. normally, the labour party is a concern for the labor market with more aggressive fiscal policy the ability for the chancellor who is more to the right of the labour party would be a safe pair of hands and given the likelihood labour is going to win the election with the polling, that is calming markets somewhat that nuance is more how they use the physical pie for instance. they will probably raise on the private education. things like that politically motivated. it's a fiscal size between both parties. >> you know, we are talking about the overall dynamics with the decoupling between the fed and
treasuries and european bonds. >> let's bring the conversation to the uk. we are also monitoring what the bank of england is saying and similarly to the united states, there's an upcoming general election we know when it will take place. how do you think about the vote and commentary from the bank of england and what it means for the bond market? >> in terms of the election. the election has not been talked about that much because both looking to the the approach. normally, the...
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Apr 23, 2024
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the ftse 100 here in the uk has crossed above the 8,000 mark. it has to do with the weaker currency and the investors have seemed to choose more defensive parts of the market in the likes of shell, astrazeneca and so on which has been driving the market here in the uk. we are monitoring the tech space. at this stage, the tech sector is out performing the rest of the market by 2%. here, frank, it has to do with some of the earnings with s.a.p. beating the forecasts and also what is happening stateside. we are waiting to hear from big tech later this week. >> we call football soccer. silvia made a face when i called it soccer earlier. thank you, silvia. >>> turning attention back to the markets which rebounded from the selloff. nasdaq and s&p snapping a six-day losing streak ahead of the busy week of earnings. r one strategist said it is not over yesterday. jpmorgan chase's kolanovic said market concentration has been very high and positioning extended which is typically a red flag. it is all adding to the downside risk. he has had a low-end targe
the ftse 100 here in the uk has crossed above the 8,000 mark. it has to do with the weaker currency and the investors have seemed to choose more defensive parts of the market in the likes of shell, astrazeneca and so on which has been driving the market here in the uk. we are monitoring the tech space. at this stage, the tech sector is out performing the rest of the market by 2%. here, frank, it has to do with some of the earnings with s.a.p. beating the forecasts and also what is happening...
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Apr 22, 2024
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does the ecb pay attention in the uk? >> if every central bank turns hawkish, the ecb would listen to that. on the margin, i think to the extent that the european central banks are shifting to cutting, i don't think there is any marginal effect in any way. >> looking at the dynamics are the ecb and fed, a lot of conversation if we see parity in the schexchange rate. when you compare the comments, it sounds more hawkish with the fed policymakers. >> it is a fundamental battle with divergence. the u.s. has applied a stimulus set up for decades. they continue to do so. the inflation reduction act. chips act. invest in growth. consumers are still experiencing the positive effects from the past stimulus. european economy has been hit by slower china and hit by higher rates to investment. they are diffiverging. the market has not been pricing so far. it has just started to price it. it hasn't fully priced in the last few weeks. >> it just feels like at this stage they have to diverge. the question for the ecb is how long can th
does the ecb pay attention in the uk? >> if every central bank turns hawkish, the ecb would listen to that. on the margin, i think to the extent that the european central banks are shifting to cutting, i don't think there is any marginal effect in any way. >> looking at the dynamics are the ecb and fed, a lot of conversation if we see parity in the schexchange rate. when you compare the comments, it sounds more hawkish with the fed policymakers. >> it is a fundamental battle...
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Apr 26, 2024
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today, we have the benchmark here in the uk trading higher by almost .5% the index has been trading at about fresh record highs it crossed over the 8,000 mark and it is continuing to trade above the higher levels. we know that is related to the fact that sterling has gotten weaker, but some positive momentum in particular in some of the companies that investors have been looking at with the defensive parts of the market which has propped up the index with other moves across europe, cac 40 is trading higher by .3%. in germany, the benchmark is up .6% a lot of these moves have to do with some of the corporate releases we have received this morning. let me take you to the sector to understand a bit more of the picture and message for some of the corporates at the top, the out performer at this stage is the tech sector trading higher by 1.6% we have been following the tech sector closely because we have heard from the big tech companies stateside. some of the corporate releases in europe have been positive let me share this stat with you. st stateside, the tech sector is up 3.2% that has c
today, we have the benchmark here in the uk trading higher by almost .5% the index has been trading at about fresh record highs it crossed over the 8,000 mark and it is continuing to trade above the higher levels. we know that is related to the fact that sterling has gotten weaker, but some positive momentum in particular in some of the companies that investors have been looking at with the defensive parts of the market which has propped up the index with other moves across europe, cac 40 is...
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Apr 24, 2024
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they have twice as many as the uk has so a lot more banking competition there. maybe that's what people are concerned about. with ubs being so big, they could swallow up some of the smaller banks. right now we're looking and the shares are down just over half a percent. >> we have the ubs chairman speaking at this moment. let's try to listen to what he has to say. >> organic growth. it cements our status as the preem neglect global wealth manager and as the leading swiss universal bank, and it boll sters our banking. moving forward, success is key to realizing this acquisition. we have already made significant progress, but there is still a long way to go i assure you we are committed to working trans parentally and with speed throughout the integration. our chief executive officer sergio amati will provide more details about our integration efforts and what lies ahead. balancing the interest of our stakeholders is essential to success. we must be humble and take nothing for granted. complacency has no place at ubs. naturally our space has given rise to a new de
they have twice as many as the uk has so a lot more banking competition there. maybe that's what people are concerned about. with ubs being so big, they could swallow up some of the smaller banks. right now we're looking and the shares are down just over half a percent. >> we have the ubs chairman speaking at this moment. let's try to listen to what he has to say. >> organic growth. it cements our status as the preem neglect global wealth manager and as the leading swiss universal...
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Apr 25, 2024
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when it comes to the moves here in the uk, we have the ten-year gilt lower by 4.32%. let me just mention when it comes to the european yields, we are monitoring the comment from one of the ecb board members who is speaking today. frank. >>> returning to the big story today. anglo america is looking to a sale of debeers. it is looking to be separate from the bhp takeover bid.roader is the portfolio m >> the deal is motivated by copper and it is important to note that anglo america has nickel and iron ore and steel making >> it is the main issue they are fighting for they have been vocal in the desire for more copper, but obviously, not too distant past. the assets are diverse and the copper is the jewel in the crown. >> the driver of the deal in your opinion other people appear to agree with you i want to talk about the deal and possible divestment of the de beers unit. platinum is expected to be under would it be to the benefit of bhp to be sold or spun off >> they made some soundings about that with regard to spinning off the anglo platinum assets how that occurs or
when it comes to the moves here in the uk, we have the ten-year gilt lower by 4.32%. let me just mention when it comes to the european yields, we are monitoring the comment from one of the ecb board members who is speaking today. frank. >>> returning to the big story today. anglo america is looking to a sale of debeers. it is looking to be separate from the bhp takeover bid.roader is the portfolio m >> the deal is motivated by copper and it is important to note that anglo america...
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Apr 23, 2024
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. >> i love hearing that julie ba-uke, we appreciate your time today glad you're happy. stay that way. >> i am. >> ending on a positive note there. >>> and remember, you can always hear us on our podcast, all our happy thoughts be sure to follow and listen to "power lunch" on your favorite streaming service. we will be right back. >>> the dow up 280, but treasury is a bit lower today let's get to rick santelli for the bond report. hi, rick >> indeed, it's been a wild day in treasuries. and it started early this morning. 9:45 to be exact let's show a chart of 2-year note yields. 9:45, global pmis hit the wire, the services and composite were both weaker than expected and yields dropped like a rock then, fast forward, we come to auction time at 1:00 p.m. eastern, 69-year 2 years record size and investors flocked the second low on that chart the low of the session, that was made right after the results hit at 1:00 p.m. eastern now, if you look at 2-year note over the last couple weeks, we had violations, intraday at 5% a handful of times but if you go to the year to date ch
. >> i love hearing that julie ba-uke, we appreciate your time today glad you're happy. stay that way. >> i am. >> ending on a positive note there. >>> and remember, you can always hear us on our podcast, all our happy thoughts be sure to follow and listen to "power lunch" on your favorite streaming service. we will be right back. >>> the dow up 280, but treasury is a bit lower today let's get to rick santelli for the bond report. hi, rick >>...
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Apr 26, 2024
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uk, europe, china, you've had weaker economic environments, even recessions in certain parts. so, what you want to see for markets is you want to see things getting better relative to expectations, not necessarily good, better, and you want to see policy support so, in those parts of the world, that's what you're getting >> yeah, i mean, i think the big difference within the u.s. markets around what's happened over the past three months is we've gone from a situation where strong economy, higher stock prices, and the thought was inflation's coming down and the fed's going to cut six times. now i think reality is setting in that the only way to get inflation to really come down is if the economy slows down. and the idea that we can get rising stock prices, a strong economy, and inflation together sustainably -- >> you want it all you want it all. >> -- at 2% is really just not that realistic and very unlikely to happen. >> it is unlikely. i thought you were saying that's what's going to happen i thought, goldilocks, you want it all >> that could be done. that's part of the rall
uk, europe, china, you've had weaker economic environments, even recessions in certain parts. so, what you want to see for markets is you want to see things getting better relative to expectations, not necessarily good, better, and you want to see policy support so, in those parts of the world, that's what you're getting >> yeah, i mean, i think the big difference within the u.s. markets around what's happened over the past three months is we've gone from a situation where strong economy,...
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Apr 23, 2024
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if you look across the world, in europe, in the uk, in sweden, many other countries, australia, we all got hit with the same pandemic shock, it is all taking time to get inflation -- inflation has come down but it is still north of target and i think that is a common global dynamic in this post-pandemic world. >> interesting. mr. clarida, i appreciate your time. i always enjoy your conversations. >> thank you. >> that is richard clarida. >>> up next, we are tracking the biggest movers into the close. kristina partsinevelos on that. >> tumbling , low revenue outlooks even though it has been on a cost-cutting spree lately. can you guess which one? details on that name and more, next. waystar's technology is the way to make healthcare payments more human. the way for providers to prioritize care and improve margins. the way for patients to have clarity and trust. the way to care for healthcare payments. waystar. the way forward. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can
if you look across the world, in europe, in the uk, in sweden, many other countries, australia, we all got hit with the same pandemic shock, it is all taking time to get inflation -- inflation has come down but it is still north of target and i think that is a common global dynamic in this post-pandemic world. >> interesting. mr. clarida, i appreciate your time. i always enjoy your conversations. >> thank you. >> that is richard clarida. >>> up next, we are tracking...
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Apr 24, 2024
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new this morning, the uk's competition and markets authority seeking comments from interested parties on whether the partnerships between big tech and a.i. companies can impact competition in the uk specifically it is focused on microsoft and amazon and anthropic. this is the first part of an information gathering process and doesn't mean formal investigation will follow. in response, amazon says it is unprecedented for the regulatory to review a collaboration of this type. we talked to the ceo of anthropic about this very issue yesterday because a similar thing is happening here in the united states with u.s. government taking a look at the role of these partnerships between openai and microsoft anthropic, google has a relationship with amazon, what those things mean and whether they are work arounds to some degree, what may have been a merger of sorts, of course, the ceo in this case of anthropic saying they're completely independent, there is no board representation, which is different than the way openai is set up, for example, as it relates to amazon. coming up on the other side
new this morning, the uk's competition and markets authority seeking comments from interested parties on whether the partnerships between big tech and a.i. companies can impact competition in the uk specifically it is focused on microsoft and amazon and anthropic. this is the first part of an information gathering process and doesn't mean formal investigation will follow. in response, amazon says it is unprecedented for the regulatory to review a collaboration of this type. we talked to the ceo...