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May 22, 2024
05/24
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christine lagarde says there is a strong likelihood of a cut. let's check in on these markets. the fed reiterating higher for longer. european futures are flat, s&p notching the 24th record high this year by the end of the close yesterday. and the volatility in focus ahead of an nvidia earnings with market suggesting 8% moves depending on what comes through from the maker of semi conductors. european futures with modest gains. ftse 100 adding 12 points. s&p unchanged, nasdaq pushed higher, 18,000, a modest gain. it will be sensitive to earnings. the pound is in focus. headline around 2.1%, core is moving to around 3.6%. inflation data out of the u.k., or 41 on the 10 year and weighing out the commentary, a consensus it will be higher for longer, three or five months of data for they get confident. still they expected cut. brent at $82, down on a report of inventory buildup, second day of drops. copper is down 1.4%. china is the biggest buyer after it crossed through the record. a bit of wrist bite. let's cross over to asia. avril hong has a check of the markets. avril: we are l
christine lagarde says there is a strong likelihood of a cut. let's check in on these markets. the fed reiterating higher for longer. european futures are flat, s&p notching the 24th record high this year by the end of the close yesterday. and the volatility in focus ahead of an nvidia earnings with market suggesting 8% moves depending on what comes through from the maker of semi conductors. european futures with modest gains. ftse 100 adding 12 points. s&p unchanged, nasdaq pushed...
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May 8, 2024
05/24
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BBCNEWS
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i would imagine jerome i would imaginejerome powell and christine lagarde breathing and christine lagarde breathing a sigh of relief?— a sigh of relief? central banks really need — a sigh of relief? central banks really need to _ a sigh of relief? central banks really need to figure - a sigh of relief? central banks really need to figure out - a sigh of relief? central banks really need to figure out what | really need to figure out what to do with this technology, there are pros and cons. as you described, the head of the central bank had raised concern that al does lack human judgement skills on things particularly like interest rates. there is a great deal of judgement involved, human understanding of behaviour and trying to figure a path forward for how did deal with something like the cost of living? they also raised concerns about al also raised concerns about ai will get into the wrong hands and be used by cyber criminals looking to launch attacks from the system. again, while there are plenty of dangers here, the panel at this conference in switzerland also said they agree the
i would imagine jerome i would imaginejerome powell and christine lagarde breathing and christine lagarde breathing a sigh of relief?— a sigh of relief? central banks really need — a sigh of relief? central banks really need to _ a sigh of relief? central banks really need to figure - a sigh of relief? central banks really need to figure out - a sigh of relief? central banks really need to figure out what | really need to figure out what to do with this technology, there are pros and cons....
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May 21, 2024
05/24
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ESPRESO
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lagarde, is known, she said that the confiscation of russian assets is unacceptable and will violate the principle of the rule of law, which is protected by western countries and the international community. it is not yet known whether the usa and great britain will succeed convince the g7 allies that using these assets as collateral does not constitute confiscation, however. one thing is known: helen came to europe with a message of unity, that allies must act together, and as we know, the us recently passed a law that gives the president the power to confiscate assets frozen in the us, but most of the assets are frozen in europe. and that is why today in her speech in frankfurt, yelen stressed: "allies need to act together and take these steps together." we we must continue to overcome russia's attempts to circumvent sanctions, including when they use third parties to deal with sensitive american or european goods. it is also critical to provide ukraine with the military aid it needs, funds to provide critical services, and ultimately to rebuild in the medium and long term. therefo
lagarde, is known, she said that the confiscation of russian assets is unacceptable and will violate the principle of the rule of law, which is protected by western countries and the international community. it is not yet known whether the usa and great britain will succeed convince the g7 allies that using these assets as collateral does not constitute confiscation, however. one thing is known: helen came to europe with a message of unity, that allies must act together, and as we know, the us...
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May 21, 2024
05/24
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ESPRESO
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lagarde. she talks about what it means, well, violates it sovereign immunity in general, she says that it can have a bad effect on the financial system, that is, it disrupts a lot. i have a very simple, not simple, but clear answer, i.e. russia's violation of international law, illegal aggression, an act of aggression against a sovereign state, this is not an undermining of international law, lack of responsibility for an act of aggression against ukraine is not undermining international law. i'm not talking about the fact that the fables that this can undermine the euro, it does not correspond to the action at all. as of today, the euro and the dollar can undermine only one thing: the defeat of ukraine in this war, because it will be the defeat of the west, and just as the pound sterling was once the key... reserve currency in the world, as soon as the british empire collapsed, it ceased to be the key currency, that is, the loss of power of the democratic world will mean the loss of currency
lagarde. she talks about what it means, well, violates it sovereign immunity in general, she says that it can have a bad effect on the financial system, that is, it disrupts a lot. i have a very simple, not simple, but clear answer, i.e. russia's violation of international law, illegal aggression, an act of aggression against a sovereign state, this is not an undermining of international law, lack of responsibility for an act of aggression against ukraine is not undermining international law....
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May 21, 2024
05/24
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that conversation tomorrow with christine lagarde. jamie dimon telling investors that succession is on the way, saying the timetable is not i've years anymore but that the decision on a replacement is up to the board, adding that stock buybacks are on the way, but not at current prices. two stories, let's start with succession and then we will get to the stop story that i think we can both agree is more interesting in the near term. succession has always been five years, five years. not i've years anymore area lisa: i wonder where the pressure is coming from. his desire, the board, or another job he might be looking at that could potentially be a reason to exit? he shut down the possibility of that job being an washington, d.c., but speculation continues. annmarie: in the pastis has said that he would do anything to help his country. does that mean making the move to washington, if asked? when he talks about succession, he might want to do so when it is advantageous for him and his paycheck. jonathan: 68, been there since 2006, a long
that conversation tomorrow with christine lagarde. jamie dimon telling investors that succession is on the way, saying the timetable is not i've years anymore but that the decision on a replacement is up to the board, adding that stock buybacks are on the way, but not at current prices. two stories, let's start with succession and then we will get to the stop story that i think we can both agree is more interesting in the near term. succession has always been five years, five years. not i've...
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May 9, 2024
05/24
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lagarde's lead and tells us which data points to watch. before the cuts come as a bit of a hint-hint, wink-wink if they are coming in june or august, and also watching the vote split whether you have the deputy governor joining the cut today. our recent speech and suggest he has a dovish tilt, and i will also watch the forecast, because if they lower the forecast below the 2% target, it would suggest whacking the finger on the market curve on which the forecast is predicated, but your question will dominate the press conference today, whether the cuts are coming after they start, and if they do not come in june, if they wait for august, it is going to be incredibly difficult when you already have the chancellor jeremy hunt saying rate cuts would be a feel-good factor for voters, and it will be even harder if inflation gets back to target over the summer before they start to cut. tom: how should we be thinking about potential market reaction then, lizzie? >> markets are currently pricing in the headache i just described, a wait until august
lagarde's lead and tells us which data points to watch. before the cuts come as a bit of a hint-hint, wink-wink if they are coming in june or august, and also watching the vote split whether you have the deputy governor joining the cut today. our recent speech and suggest he has a dovish tilt, and i will also watch the forecast, because if they lower the forecast below the 2% target, it would suggest whacking the finger on the market curve on which the forecast is predicated, but your question...
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May 22, 2024
05/24
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CNBC
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. >> meantime ecb president christine lagarde says, quote, there's a strong likelihood rates will be cut on the assumption data reinforces confidence that rate inflation will return to the 2% target in the immediate term. in an interview, lagarde said she is, quote, really confident inflation is under control. our guest is still with us, of course. so we're getting the divergent comments coming from the ecb and the fed. we know christopher waller, he's quite hawkish, and he wants to wait. he's urging investors to wait, and patience is a virtue essentially. we're back to the same story we were at before. even if we got a softer than expected ci last week, thit's still going to be data dependent. >> yeah, exactly. i gave a c plus grade. the c stands for cautious, not confident, where the ecb is more confident. we're seeing this divergence open up between the banks. the bank of japan is doing steady normalization. the ecb is set to cut in june. like we discussed, the june cut is going to be delayed. all of this creates interesting opportunities for macro investors. we've had several ups
. >> meantime ecb president christine lagarde says, quote, there's a strong likelihood rates will be cut on the assumption data reinforces confidence that rate inflation will return to the 2% target in the immediate term. in an interview, lagarde said she is, quote, really confident inflation is under control. our guest is still with us, of course. so we're getting the divergent comments coming from the ecb and the fed. we know christopher waller, he's quite hawkish, and he wants to wait....
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May 30, 2024
05/24
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. >> exactly, the press conference will be interesting if we get any clear guidance from christine lagarde. bloomberg's oliver crook, we thank you for that update on how the german data feeds into the ecb's thinking. let's turn to the other stories making news, bloomberg has learned at the european central bank is set to impose unprecedented fines on several lenders after they failed to progress enough in addressing the impact of climate change. for banks face penalties after not meeting deadlines for assessing their exposure to climate risk and those fines could be up to 5% of daily revenue. elsewhere, the bank of france governor says the european union should delay implementing new bank capital rules if the u.s. is seen as doing the same. many banks are concerned they could be put at a disadvantage in face penalties if they bring in rules more quickly or more stringently than others around the world. in other news, goldman at veteran has been named by the cleveland fed to replace loretta mester from august. she worked at goldman sachs from 1993 until stepping down earlier this year. she
. >> exactly, the press conference will be interesting if we get any clear guidance from christine lagarde. bloomberg's oliver crook, we thank you for that update on how the german data feeds into the ecb's thinking. let's turn to the other stories making news, bloomberg has learned at the european central bank is set to impose unprecedented fines on several lenders after they failed to progress enough in addressing the impact of climate change. for banks face penalties after not meeting...
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May 24, 2024
05/24
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janet yellen will meet with the ecb president christine lagarde later today. alphabet and meta are offering millions to hollywood studios to partner on ai. bloomberg reports the companies have held discussions with studios to license content for the tech giant's ai video generation software. this technology can create realistic scenes from a text prompt. disney and netflix have declined to partner with the companies. warner bros. discovery is still weighing a decision. the nvidia ceo had a good day yesterday. his net worth grew by almost $8 billion to $91 billion as shares of nvidia rose 9% following better quarterly results.the majority of his net worth comes from his stake in nvidia, the company that he cofounded in 1993. according to the bloomberg billionaires index, he is the 17th richest person in the world. lisa: i love this idea and you nailed it. what do people do with that kind of money? they aren't going to buy a lot of apartments. they are going to funnel it back into stocks. dani: that is why this is different and this market. even if we get hiccup
janet yellen will meet with the ecb president christine lagarde later today. alphabet and meta are offering millions to hollywood studios to partner on ai. bloomberg reports the companies have held discussions with studios to license content for the tech giant's ai video generation software. this technology can create realistic scenes from a text prompt. disney and netflix have declined to partner with the companies. warner bros. discovery is still weighing a decision. the nvidia ceo had a good...
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May 30, 2024
05/24
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we will hear from christine lagarde following what most people imagine will be that first interest rate cut from the ecb. lisa: the question is going to be where did they go next and how much are their hands tied? the divergence from pat -- from fed policy, but we have seen an inflation surprise to the upside. germany first, then we get another one today. maybe they have not killed the beast either. jonathan: australia too. another reason for yields to encz higher over the last couple of days. we will catch up with bankim chadha on his bullish outlook for the second half. looking ahead to cosco earnings later today. in robert sockin weighing in on u.s. gdp. bankim chadha saying this, we are adopting the top of the range is our year-and target. s&p 500 at 5500. while all of the growth may not materialize this year we see market confidence in a continued recovery rising by year end, but look for pullbacks about geopolitical risk and the u.s. election. binky, good morning to you. let's start with the underperformance of cyclicals recently. what explains that for you? bankim: it is, you kno
we will hear from christine lagarde following what most people imagine will be that first interest rate cut from the ecb. lisa: the question is going to be where did they go next and how much are their hands tied? the divergence from pat -- from fed policy, but we have seen an inflation surprise to the upside. germany first, then we get another one today. maybe they have not killed the beast either. jonathan: australia too. another reason for yields to encz higher over the last couple of days....
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May 22, 2024
05/24
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looking at foreign-exchange, christine lagarde saying this about inflation -- we are confident we have inflation under control but that's not what you will hear from the bank of england after the print we got early as morning and not what you hear from fomc officials either. the ecb seems to be in a unique spot at the moment where they are able to commit to their next move. they commit to the idea they've got inflation and price pressure under control. lisa: germany's been basically in recession and you've seen pockets of weakness. that is either a luxury or not but they are catering to that and at summer obvious area to cater to than in the united states. the u.k. is in its own world and the economy is not great but it can -- but inflation is not coming down nearly enough. europe seems like less of a mystery with the weakness offsetting the inflationary pressure. jonathan: in the u.k., one dollar $.32 on sterling. if you are looking for a cut in june, london is shifting to later this summer or perhaps august. think about the growth policy mix in europe. it was absolutely dreadful in t
looking at foreign-exchange, christine lagarde saying this about inflation -- we are confident we have inflation under control but that's not what you will hear from the bank of england after the print we got early as morning and not what you hear from fomc officials either. the ecb seems to be in a unique spot at the moment where they are able to commit to their next move. they commit to the idea they've got inflation and price pressure under control. lisa: germany's been basically in...
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May 7, 2024
05/24
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exclusive coverage by christine lagarde. the euro against the dollar look something like this. the euro at the moment against the dollar is a little bit weaker. down about .06%. dollar-yen as well 154.61. it is the scarf. annmarie: she is a fashion icon. jonathan: you are an icon as well. israeli troops taking control of the rafah border crossing in gaza. the move is the first of its kind since the war began in october. president biden speaking to benjamin netanyahu yesterday. boeing in the spotlight of regulators. the faa investigating incomplete expansions of the 787 dreamliner. this includes suspicions workers may have falsified records to cover up shortcuts they factory in south carolina. boeing saying there is no immediate safety issue. every single time any news comes out about this company is not good. lisa: there's a question mark around when we will get a floor, a sensible washout, something from the authorities saying we understand what happened and we are done. the fact that the faa is embarking on a new investigation at a time they've already had a gazillion other i
exclusive coverage by christine lagarde. the euro against the dollar look something like this. the euro at the moment against the dollar is a little bit weaker. down about .06%. dollar-yen as well 154.61. it is the scarf. annmarie: she is a fashion icon. jonathan: you are an icon as well. israeli troops taking control of the rafah border crossing in gaza. the move is the first of its kind since the war began in october. president biden speaking to benjamin netanyahu yesterday. boeing in the...
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May 31, 2024
05/24
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christine lagarde has already committed to june. then we could see some staggered beginnings for other central banks. the bank of england, there was already market pricing pushing out the timing towards later on this year. june, easing the first cut, that's not likely to happen now. really, it is a staggered easing cycle. but we have a common theme in terms of very sticky service inflation, core inflation. the underlying trend proving to be stubborn across the different countries. it really poses the question -- how much can ease after that? that's the debate amongst investors at the moment. yes, they will start cutting, but the ecb is the case for pausing after that. how quickly can they start using from here? -- easing from here? jonathan: christine lagarde has done a good job keeping a consensus together. do you think the typical north-south divide will reappear as we have to fight be on june and deeper into summer about what to do next? sree: i'm not sure that there will be a big division within the ecb itself. what we are seein
christine lagarde has already committed to june. then we could see some staggered beginnings for other central banks. the bank of england, there was already market pricing pushing out the timing towards later on this year. june, easing the first cut, that's not likely to happen now. really, it is a staggered easing cycle. but we have a common theme in terms of very sticky service inflation, core inflation. the underlying trend proving to be stubborn across the different countries. it really...
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May 22, 2024
05/24
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CNBC
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you know, the christine lagarde, president of the ecb commented in an interview she did in ireland last night stood out because they are in contrast to the message from the fed president which is we have to wait and see about more progress on inflation before we cut rates. listen to how the european central president is talking about it. >> the focus that we have for next year and the year after that is really getting very, very close to target, if not at target so i am confident that we've gone to a controlled phase >> they have another meeting in about two weeks. sounds like she is gearing up for a rate cut so she feels good about the progress of inflation. >> the phrase really confident does get your attention. we mentioned uk cpi throwing cold water on the hopes for early cuts. >> a little bit hotter but so far the data in europe is good, germany is more worried about inflation than the rest of the euro zone so that's a historical thing. the other thing, i don't know if you've been following these polls we've been getting in surveys about how americans are feeling -- >> i can't with
you know, the christine lagarde, president of the ecb commented in an interview she did in ireland last night stood out because they are in contrast to the message from the fed president which is we have to wait and see about more progress on inflation before we cut rates. listen to how the european central president is talking about it. >> the focus that we have for next year and the year after that is really getting very, very close to target, if not at target so i am confident that...
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May 9, 2024
05/24
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lagarde did about which data points they are watching for as to when to cut. will they go for june over august? jonathan: a rate decision, the bank of england leaving rates unchanged in line with estimates in the consensus was always about the vote split. out of the nine, seven votes to keep rates on hold and to voted for a cut. the guidance from the bank of england, risk from inflation persistence are receding. the governor of the bank of england sing optimistic things are moving in the right direction. what needs to happen between now and next month to make that cut a reality? >> there are various bits of data that they are watching for. what would be embarrassing is if inflation gets to 2% and the bank of england hasn't cut by august. it's easier to explain these things when there is a press conference and there is one today and august but there isn't one in june. if they wait until august, there will be a lot of pressure but it will be harder to get the computations right. dani: what sort of bailey will we here today? weise heard from huw pill but what hav
lagarde did about which data points they are watching for as to when to cut. will they go for june over august? jonathan: a rate decision, the bank of england leaving rates unchanged in line with estimates in the consensus was always about the vote split. out of the nine, seven votes to keep rates on hold and to voted for a cut. the guidance from the bank of england, risk from inflation persistence are receding. the governor of the bank of england sing optimistic things are moving in the right...
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May 17, 2024
05/24
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jonathan: it is a question for christine lagarde in a few weeks time. under surveillance this morning, after a turbulent start the boeing shareholder meeting taking place at 11:00 a.m. eastern. the new search for a ceo is the focus following dave calhoun's decision to step down at the end of the year. we have a name? annmarie: they are on the search. this also with calhoun can remain on the board. there is pushback from shareholders that maybe he should just go. potentially boeing will want this to be a nonevent, but it might be. this is about whether or not he will remain part of the company in a broader way and stay on the board. dani: there is irony, will it be larry cole pulled? he was a gl alumni. we have had four past boeing people that have been ge alumni's. we want someone internally? no, because of the mess. what if you get someone externally? this is an insane learning curve for someone new to come in. do shareholders have the appetite for a veteran and boeing? jonathan: the conversation yesterday with george ferguson of bloomberg intelligence
jonathan: it is a question for christine lagarde in a few weeks time. under surveillance this morning, after a turbulent start the boeing shareholder meeting taking place at 11:00 a.m. eastern. the new search for a ceo is the focus following dave calhoun's decision to step down at the end of the year. we have a name? annmarie: they are on the search. this also with calhoun can remain on the board. there is pushback from shareholders that maybe he should just go. potentially boeing will want...