tv Worldwide Exchange CNBC December 4, 2015 5:00am-6:01am EST
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>> hi, everybody. glancing at the u.s. futures we have a couple of hours to go but we're being called delicately higher across the board. dow jones by 85 points at the moment. when looking here in europe today we're seeing slightly lower markets across the board. you have it right there. the ftse 100 lower by a quarter of a percentage point. xetra dax off by a tad. the cac and ftse mib lower this morning.
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the euro dollar was interesting yesterday. right after we had that ecb announcement we didn't see much movement and we were in the region of 105-106 which is where we have been for awhile now and then suddenly overnight we saw this massive drop in the euro dollar. currently at 108, a rise in the euro dollar. we're currently lower but on the weekly picture to the upside by 3%. he justified his actions despite decent from some board members. >> we're doing more because it works. not because it fails. we want to consolidate something that's been a success. >> yeah. we will be speaking to vito vitor constancio in an exclusive interview with the ecb vice president later this morning.
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stay tuned for that. >> oil is trading higher as they will cooperate to help balance the crude market. this as the oil minister says the oversupply is catastrophic for oil markets. steve is at the opec meeting and you got a chance to talk to a number of those ministers, steve. >> yes. i did. i even spoke off camera as well and i said why did everyone always want saudi to do the heavy lifting on the cuts? he didn't necessarily see it that way. i also spoke to one of the absolutely key men in world oil markets. he is the iranian oil minister and the man responsible for trying to get to the big levels iran wants to put back on to the table. i started speaking to him about the wrangle perceived. he said longer term we get on with it but short-term there are differences of opinion but listen listen to what he had to say about the ability of iran to put oil on the table and did they need anyone's permission?
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>> we don't need permission from any organization to increase our production at the previous level that we produced before. >> ultimately, how many million barrels a day does iran want to be able to produce. >> very soon 4 million barrel per day. >> there after, sir? >> depends on the investment and the project that we have with international companies and our investment. >> guess what, iran doesn't necessarily want to stop at 4 million barrels a day. if they can do more than that they want to go a lot higher. maybe even doubling those levels but that's a long way into the future but it does lead to more concern about the fundamentals underlying the oil supply in the market. then i spoke to the venezuelan oil minister. he has taken over from ramirez
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that's the long-term oil minister here and his comments were absolutely critical. critical about what he wants opec to do and the production level he wants to see from opec in this meeting and what it could be. the word catastrophic is key. listen in. >> we are coming here because we want to establish the influence that opec has on the market. 60% in the oil is opec. 60% of the oil in the market is from opec and the inventories we have right now, all the production we have from opec that is going to believe that the inventories will be coming close to 100% and that will push the price.
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that's the reason why we're proposing here today reduction of 5% of the production in order to establish and moderate the inventories at the level that is required to have a stable price. it's going to be convenient not only for the producer but the consumers. >> what cuts does opec need to put into the markets in order to not have that catastrophic scenario? >> we proposing here today at least 5% of the production. >> and i think in those two gentlemen is the crux of the problem for opec and the broader market as well. you have iran that wants to go up to 4 million barrels a day and then you have venezuela that wants at least 5% cut. they are producing a mean 30 million. produce more on that. we're talking about 1.5 million barrels a day. on one hand some want to produce more. on the other hand venezuela needs cuts to avoid catastrophic situation for many members.
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they want the influence back that opec had before. i'm not sure if they can get it. >> thank you. we want to discuss this further with the vice president for refining and marketing research. all this week there's been so much talk about whether we were going to see a coordinated cut that was lead by the saudis. the saudis this morning saying those reports are baseless. so we're nowhere closer to anything coordinated? >> we don't think so. we're not expecting opec cut. it would have to be coordinated. usually a lot of conversations. it happens last time as well. we're not expecting saudi to cut now. >> how is the world going to examine what's been overproduced now? >> we have slightly stronger demand so it's in decline year
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on year if you look at the low prices and also we have delay and deferment. >> can they have the jump from iranian oil next year? >> we think so. a lot depends upon the jump that you foresee. we have a view that says oil supply growth next year is flat. so we have decline in non-opec balanced by modest growth in iraq and iran. we have iranian growth, 200, 260, 300,000 balanrrels a day. >> this opec meeting in vienna or cop-21 meeting in paris. >> or is it a symbolic gathering
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that will evaporate in terms of effectiveness? >> in between. there are mechanisms that can be put in place to reduce carbon emissions. coal is a key driver. we see the restriction of that oil less so. >> how about the issue that steve raised with regards to how iran wants to move up in production and venezuela wants to move lower. how do we solve the difference in output. >> venezuela wants the price effective the oil price higher. it's one of the ones with the highest physical break evens. iran wants to return to the market. we see a natural tension between those two. the view we have is 2016 and we start to see oil prices recover toward the end of the year when it's clear to the market that supply growth is very low and stocks start to be drawn down. venezuela is in a difficult position. >> but the problem is that currently oil prices are stuck in this 40 to $50 per barrel
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range and whenever we get past the $50 price again we're seeing the u.s. oil producers coming back. they have a greater incentive to come back and produce. are we ever going to be past that $50 level again? >> we think so. we think so because you've got u.s. title producers, the most responsive. there's still economic wells to be drilled under 45, $50 brent but not many of them. what you're actually looking at as we go forward there's on going production in existing commercial fields. that's bigger as we go forward in time and that starts to counter the title play. >> thank you so much for joining us. much appreciated. the vice president for refining and marketing research. now u.s. jobs growth likely
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slowed in november but not enough to derail the fed's plans to raise rates later this month. the november jobs report is out at 8:30 a.m. eastern. 200,000 in nonfarm payrolls versus 271,000 in october. holding at 5%. a 7.5 year low. our guesses are on twitter from the three of us. i went 4178. >> carolyn said 179. >> i'm saying 210. >> what do you think? get in touch with us. >> @wilfred frost. >> so get your guesses in on non-farm payrolls. in addition to that november jobs report we also get the october trade deficit this morning. a trio of fed officials are speaking. the philly fed president and the st. louis fed chief bullard and kocherlakota. and big lots and hovnanian.
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could make a big difference over time. i'm going to be even better about saving. you can do it, it helps in the long run. prudential bring your challenges that's why i switched from u-verse to xfinity. now i can download my dvr recordings and take them anywhere. ready or not, here i come! (whispers) now hide-and-seek time can also be catch-up-on-my-shows time. here i come! can't find you anywhere! don't settle for u-verse. x1 from xfinity will change the way you experience tv. welcome back. let's remind you of the headlines. the forecast is 200,000 but
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janet yellen says half that amount could be enough in order to hike rates. we speak exclusively to the ecb vice president to get his take on whether the central bank underdelivered and it could be worth more than 80% of the s&p 500. we look at uber's latest valuation rumors. >> let's look at today's other top stories. uber raised $2 billion in a new round of funding that could value the ride sharing service at north of $64 billion. reports say investors include hedge fund tiger, global management and the investment firm. uber set out to raise $12 billion in debt and equity and before this latest round already raised $10 billion. coming up later today uber's chief advisor and former white house advisor will be on squawk box at 8:40 a.m. eastern time.
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>> now avon products, they're reportedly now in talks to sell their north american business to cerberus capital. separate to that, the investor built an almost 3% position in avon and is launching a campaign to force chaenges at the compan. they would also be opposing a deal as well. we saw avon up by some 7% in after hours trade. a little lower this morning on these reports that potentially we could be looking at a deal but the business is interesting. it's an old business. a very household name type business and it's a business where you rely on the marketing of women essentially. women marketing directly to women. >> i don't think it works anymore. the door to door selling. people or women used to come in and try to sell to their friends or colleagues.
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we have all the online offers. you go to the stores. they have much better offerings than what the women can sell you. they're okay but they're not top notch. they're not a specially budge and they're in between and don't have the edge anymore. >> i still get my lipstick this way. >> does anything exist like this for men? >> tupperware. >> this was popular in the 70s and 80s. >> i get my lipstick this way but not my tupperware. >> you know, men selling directly to men. >> i don't think that exists. >> no, no. >> hike protein powder and stuff like that. >> no, but jokes aside it's very much like carolyn is suggesting. you might be taken in by big advertising or big offers but
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they're not going to come to your door and i don't think it really works to be honest. >> it's real interesting that avon actually rejected a bid by the perfume maker in 2012 for $24 a share. and they're trading now closer to 4. they should have taken that i guess. >> absolutely in terms of the online way in finding cosmetics and time. our society has changed. we no longer sit in each others living rooms and muse about tupperware do we? >> you're really going for that. >> although you still have creative arts and crafts and things like that. etsy for example. anyway. >> let us know what you think. you can find us on e-mail. we're present there. world wide@cnbc.com and also on
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twitter. >> barnes & noble swings to a second quarter loss and reports a drop in sales since the retailer spin off it's college bookstore business. sales fell 1% more than expected on lower online sales and weak demand for the nook e-reader. sales rose more than 1% through black friday weekend. shares off some 16% today in german trade. much more than after hours yesterday. >> i love bookstores. >> you're one of few these days i suppose. >> no, you go in and you hold the book, you can feel it. it's sad only to buy online, isn't it? >> i just bought two books online yesterday. >> not many people -- >> are in the same camp as you for that going into physical bookstores. but it's different. you can browse books.
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>> you're not going to sit there and read the whole book. of all things you don't need the browse the hard product for books is in that category. >> but then they have tiny letters and no pictures. >> let's move on. authorities continue to investigate wednesday's shooting in california that left 14 people dead and another 21 injured. jay gray joins us with the latest. jay. >> hey, good morning. it seems the couple involved here living a double life according to those that worked with them. those that lived in the same neighborhood. never any suspicion. they were a quite family. they didn't get out much but they never imagined that there was anything going on inside that house when they were amassing amo. they were building bombs and plotting it seems this attack. police and federal agents continue to work through evidence, evidence they pulled
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from a hard drive and two cell phones that they reported although they were damaged some what by the suspects in this case trying to apparently hide some of their digital footprint if you will planning for this attack. they had planning with people overseas. federal agents have not yet called this a terror attack. that's part of their investigation as they look to try to determine that and try to determine a motive in this case. that all happening as the community gathered together for a memorial last night. more memorials and prayer services will continue through this weekend as they grieve the 8 men and 6 women killed during the attack. that's the latest live here. now back to you. >> thank you for that. >> now we're a couple of hours ahead of the u. s. market open. let's check in on the u.s. futures and get an indication of what we could be looking at here this afternoon. you have been tweeting through with your bets on the non-farm payrolls. wilfred tweeted a tweet on what
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asleep during a news conference in zurich. the 69-year-old has recently undergone a kidney transplant during which he remained in his current job. >> listen we were just talking about our markets, our european markets. the u.s. futures. those of you just joining us now, we're still being called higher but it is an interesting day wrapping up the week. the non-farm payroll data is going to be interesting this afternoon as well. so that's what we're gearing up for here in europe. >> what about european equity markets, lou? >> a bit red. so lower. >> let's take a look at the bond markets. a spike in yields coming on the back of the disappointment from mario draghi. we're off the levels at 6658 in terms of the ten year treasury note shooting up to 2347%.
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coming off the loftier levels. in terms of the forex markets that's where all the action was happening yesterday. if biggest surge in almost seven years on the back of announcements falling short of expectations. 3.1% was the surge overnight. we're back below the 109 level. 108.74. the dollar index falling to a one month low below the 100 level. >> i'm surprised we saw u.s. equities respond as well. but yesterday's move should, in fact, is made the prospect of a rate hike easier for risk assets in the u.s. to stomach because the strong u.s. dollar reaction is less muted now. >> in theory, yes. but the knee jerk reaction is selling on the back of the selling that you're seeing in europe and that's something that we saw in asia so maybe markets will become more rational as we head toward the next couple of weeks and maybe once we do get
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the fed hike and then the economy is improving. >> but a lot of this is knee jerk reaction in terms of trading on the day. maybe positioning ahead of the non-farm payroll data. >> the last couple of weeks have seen an odd reaction in terms of the middle of last month markets reacted well. traditionally they would react badly to that because it suggests we have a rate hike but the confidence was taken well by investors. much more on that and the discussions on markets. we'll be bringing you an exclusive interview with the ecb vice president coming up in around about 15 minutes time. we're back here on worldwide exchange very shortly.
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we'll be hearing exclusively from the ecb vice president to get his take on whether the ecb underdelivered as european markets continue to trade cautiously. >> 100,000 jobs. that's all we need. the fed chair janet yellen points a bullish picture of the labor market as the central bank inches toward a rate hike. >> venezuela's oil minister calls opec's oversupply catastrophic as they indicate they will be working together to
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balance the price sending crude higher. >> uber launches another funding round which could value the company at over $64.5 billion making the ride sharing firm worth more than 80% of the s&p 50. >> welcome back. thank you for tuning in to the show. >> plans for the weekend? >> nothing much. very exciting. >> very nice. u.s. futures indicated slightly higher on the u.s. markets this afternoon once they open. we're just showing you because of course we're behind in tile in the u.s. if you're just waking up this morning so you might just want to see what's happening and here in europe we've seen our european markets hanging on to a little bit of red. we were called flat to a little
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bit lower this morning and that's what we're seeing in the ftse mib, cac 40, and ftse 100 all off by a tad. it's going to be a big day today. we have the end of the week, the data, you have the u.s. job growth likely slowing for the month of november but not enough to derail the plans to raise rates next month. november jobs report is out at 8:30 a.m. eastern time. forecasts calling for an increasing of 200,000 in the non-farm payroll data itself versus the 271 print we saw back in october. very strong october. still looking at a strong november. just not as strong as the previous months. gains likely to be broad based although the manufacturing and the mining sectors probably lost more jobs. when looking at the actual unemployment rate, the jobless rate, we're anticipating it held steady at 5% at a 7.5 year low. average hourly earnings expected
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to rise by .2%. >> right. fed chair janet yellen is down playing the significance of today's jobs report as a factor in the central bank's decision whether to raise rates. yellen says the u.s. labor market made substantial progress since the recession with unemployment dropping from 10 to 5%. >> we want to see the economy being on a path where we'll continue to erode that labor market slack over time. so we'll be looking very carefully at that but we cannot overweight any particular number. we need to be looking at underlying trends in the data and not overweighting any number. >> janet yellen did take issue with one lawmaker's question about a citigroup report out earlier this week that puts a 65% chance on the u.s. falling into recession next year. she can't put a number of the risk but it's not anything approaching 65%.
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the fed forecast gdp growth of 2.3% in 2016 which isn't a recessionary number. >> joining us live from new york is the senior portfolio manager of the sit rising rate etf. he will be ringing the opening bell today as well. a very good morning to you, bryce. looking forward to ringing the bell i guess? >> yes, it's exciting. >> go on. >> well, it's exciting. we have been implementing a number of interest rate risk reduction strategies for our clients and this fund that we're launching today or celebrating today rather is one that is designed specifically to help bond portfolios remain stable as the interest rates rise. so it's designed specifically for a curve flattening that we expect to happen when the fed raises rates on the 16th. >> so before we get to your calls on how to deal with this
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rising rate environment how sure are you that we do get a rate rise on december 16th? >> well, i think janet yellen has done a good job of managing expectations this time. she has gotten the majority of investors expecting the rate rise by a quarter point. this is better than in september when half the people thought they would raise rates and half didn't. it's not surprising that the market was wiet volatile after that. this time i think that the only way that the market would react violently would be if they did not raise rates. they were expecting the quarter point raise. >> how much do you think, how much elasticity do you think we have compared to europe when looking at the different scenarios we're in? some might look at europe and say it's undervalued compared to the u.s. and given the loose money policy we should be investing in europe and not the
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u.s.? >> there is a big divergence and there's some concern over there why to be. the u.s. stock market does have trouble when the fed starts raising rates. i do think that there's enough strength that we'll continue to have a positive reaction to a small rise in rates. and that's why i think the jobs report is still very critical even though it doesn't have to be strong to raise rates. it is critical in terming how they raise rates and it could have a very significant impact in the stock market. >> in the two year yield that's still sitting at 0.9548. when is it going to be piercing that 1%.
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the jobs report is really strong. if not it might not be until december 16th when it does that. we're on a path when it's not a matter of if, it's a matter of when. because the two year is really concerned about where we will be two years from now and i think it's easy to imagine a scenario where feds funds rate, the feds fund rate could be at 1% or higher a couple of years from now. >> all right. thank you so much for your time. senior portfolio manager of the rising rate etf. >> right it's already being called the miracle in motown as the packers rallied from down 20 points to beat division rivals detroit lions on the game's final play. the lions thought they won the game but a controversial face mask penalty gave the packers one final untimed play after scrambling away from the lions pass rush quarterback aaron
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rogers unleashed a throw that travelled 70 yards in the air and his tight end richard rogers hauled in the pass for the winning score. taf game the quarterback called it the most amazing game of his life saying when he caught it i almost blacked out. i'm not surprised. what an incredible pass that was. he doesn't look like he's about to black out there. >> but if you low a ball for a dog and you throw really hard and it goes like three meters. it's really hard. >> it is but different career paths i suppose. >> a completely separate career path. for playboy what is old is apparently new again. they have now tapped pamela anderson to be the final centerfold before it stops publishing nude photos in march. she got a call saying we don't want anybody else. her first playboy centerfold was in 1990. she has gone on to grace the
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hi, everybody, welcome back. hey, guess what. >> what? >> i don't know. >> it's friday. just in case you forgot. it is friday. european equity markets lower, delicately lower for almost all of them. i'm just seeing a little bit of green coming through from the nordic markets. the market in oslow but that's what we're seeing on the main markets. >> the spike in the euro had everyone talking today. euro dollar 108.64. down by 0.7% but that's after a 3.1% gross in the overnight trading session. that was the biggest surge in almost 7 years given that draghi's announcement fell short of expectation. that had a big impact on the u.s. dollar. the dollar index back below 100 off the 12.5 year highs. it's all about the nfp later on today. it's been a really tough day. >> yeah. i think traders should have been really whacked yesterday. it just shows how overplayed
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that trade was. leading into that week this sort of three broad tools, a rate cut, an extension of the time frame of the bond buying and extension of the size of the bond buying. we have two of those three and we also have nuisances as well as in terms of reinvesting principles and expanding it to municipal bonds as well. he did a fair amount to get that kind of correction. >> but it's by how much on the deposit cut, right? a hot of people had been. >> the non-farm payrolls is saying 250,000. >> okay. >> non-farm payrolls. send through your bets. >> let's move on, julia has been speaking to ecb vice president and joins us live from frankf t frankfurt. >> thank you so much carolin. lots of points covered.
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but i started by asking specifically what he believes these fresh measures will actually achieve. listen in. >> it will reinforce the package as a whole. our policies as it has been decided last year and in january because we are -- we have taken a series of measures that will work together and they are about prolonging the period during which we keep this policy of using our balance sheet more than was forseen at the beginning. this extension goes in the direction of reinforcing the impact of the policy so that we can achieve our target by the end of 2017 which was not as sure as we thought before and also the fact that we extended the policy of fixed rate full alotment of liquidity until the
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end of 17 also. reinforces our policy of forward guidance which is i think important as a guide to the market. and also the reinvestment policy ensures that after march 17th, we will continue to keep the stock of securities that we have bought constant because we will keep reinvesting the proceeds of securities after march 2017. >> you mentioned guidance there. now market expectations into that meeting were incredibly high. in part guided by the governing council members like peter, by mario draghi himself in recent weeks. do you think in hindsight the governing council raised the level of expectations too high? >> well, one can never tell before ends.
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it's very difficult to calibrate and fine tune that. what i can tell you is that what we decided yesterday was exactly what the board proposed to the governing council. so there was no change in what we proposed to the council. so we did what we intended to do. now we have to recognize that the markets got it wrong informing their expectations they did, indeed, add higher expectations that were there and that's why they reacted like they reacted. but that was not our intention. after our meeting in october, we said that we would reassess the degree of accommodation. so we were talking about a recalibration of our measures. we were not talking ever about a new type of qe-2 or something like that. that's not what we were talking
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about. >> so in your view the pull back, the spike that we saw in the euro yesterday wasn't overdone? >> well, what is reassuring for us is the fact that in general, the conditions in financial markets are today as we speak, better than what they were in after hour meeting in october when we first announced that we were going to reassess the calibration of our policies. and so there was this reaction. we hope that of course as markets realize the full effect of all the five measures in the package these may be corrected but even without thinking about it, it's important to say that this consolidated our policy and when the extension of several measures will come due, this
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will impact also the situation then and will help for us to achieve our goals until the end of 2017. >> so the guidance that was given going into this meeting, was that an effort in some way but the doves on the governing council to use the market as leverage to force the hands of the hawks into accepting further stimulus? >> well, no. i could not agree with that statement which by the way would be very convoluted. >> game playing. >> game playing which didn't cross anyone's mind i am absolutely sure. we don't play with these things that way. >> but you just said to me that what you proposed you got. >> yes. >> so absolutely you don't feel that you were bond in anyway by the germans here? because he came straight out and said he totally disagrees with the stimulus. >> well, he had already
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disagreed before when we took the measures but that's of course not important. what is important is that there was what really counts in the end to show there was a general understanding that in view of events since january, our measures lost impact and were working and less than we thought in march when we started the information the asset chases we thought that with that we would be able to reach inflation and we realize that it was no longer enough to achieve that target by
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17. >> why will this now be enough? >> we think it will be. the financial conditions are better than what they were in october when we first announced the reassessment and also because there are measures in our package that will kick in as time goes by and will be prolonged in 2016 and that will produce also an effort on inflation. >> mario draghi said you have other tools you can use. is a further cut in the deposit rate one of those options? >> i'm not going to speculate but just a reminder of yesterday when he had the same question, he said what we did is adequate and we still have of course
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measures in our tool kit that can be used and that depends on development and we have tools that adjust in changes in the overall situation. >> did you perhaps cushion the banks. >> that was not discussed because we proposed a cut that was reasonable and did not require entering such considerations. >> can i ask you what your message to it is? there's a suggestion that the bar now for stimulus is high particularly given the stance of the bank. >> it's not to do with any particular member of the fwov governing council.
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decisions can only be taken when there is enough majority to consider that decision. that's the first point. but depending on events we still have measures in our tool kid we can use and they are fully aware of that. if there would be need to use that. >> you're confident that you have enough dry powder here? some in the markets are saying you're running out. >> they cannot say both things. they say we should have done more and then we don't have the instruments. and we do have measures in our tool kit if they would be needed. >> one of the comments made yesterday was efblfectively sayg
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the ecb can't do this alone? were they calling for further stimulus from euro zone nations? >> what we were say as good that monetary policy cannot do it alone to address all the problems and challenges that the euro dollar is facing and that as much as possible according to the rules other policies have to help and step in and to really help because in such a situation we all know that there is a point where it's less effective alone and that's the main message. the other aspect of your question is subject to further analysis and will continue to reflect on that for sure but we want the other authorities in the euro area also to reflect on the situation and not rely only
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on monetary policy. >> i think we have to face facts. given the moves in the markets yesterday and the comments that we had in the last few weeks there was a disconnect. do you think the ecb has lost credibility in some way in the last 24 hours? >> my view is the fault is with them. they should have thought in our wording in october we are going to reassess the degree of accommodation so it was about recalibration. >> it's very difficult to really measure and fine tune these impac
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impacts. i think the markets got it wrong. many were hoping to make some money if there would be a big eve event. >> he said the markets got it wrong. when i asked him about the euro spike yesterday, he said i hope when they realize the full effects of this package, this may be corrected. guys they got what they asked for. maybe they only asked in terms of stimulus what they knew they could get away with here but interesting comments from a wet and rainy and freezing frankfurt. back to you. >> julia, thank you so much for that. thank you for that fantastic interview as well. the ecb's vice chairman saying the markets got it wrong. they didn't read our reaction function correctly. quick look at the euro dollar this morning. we're back below the 109 level where we spiked over yesterday.
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but at this time yestee're still closer to 105. we saw the 3% jump in yesterday's trading session. the german yield curve is looking like this. we saw that big 20 basis point jump in ten year bund yields. we're lower. 66 basis points is where we are. european markets extended yesterday's losses. we're down for the xetra dax but off by 0.2% after the loss in yesterday's session. >> focus switches from europe to the u.s. today with the nfps and what that will mean for the fed. likely of course to mean very little. yellen seems like she'll want to hike either way. now that's it for today's worldwide exchange. thanks so much for watching. i'm wilfred frost. >> i'm carolin roth. >> up next, u.s. squawk box. stay tuned. buy for now. it's hard to find time to keep up on my shows.
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that's why i switched from u-verse to xfinity. now i can download my dvr recordings and take them anywhere. ready or not, here i come! (whispers) now hide-and-seek time can also be catch-up-on-my-shows time. here i come! can't find you anywhere! don't settle for u-verse. x1 from xfinity will change the way you experience tv.
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good morning, could today's employment report be a game changer for the fed? apparently not. we could go down to 100,000 or below and get an increase. we'll talk market expectations as well as implications. yesterday was interesting, was it not? and decision day for opec. the cartel meets to discuss production plans. no good deed goes unpunished. mark zuckerberg responding to people criticizing his plans to give away 99% of his stock. you knew it was coming. and a thursday night thriller. the packers stun the lions with
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a hail mary pass. it's friday, december 4th, 2015 and squawk box begins -- it's not the 4th is it -- what's the date? oh it is? okay. good morning welcome to squawk box right here on cnbc. it's december 4th. we'll get joe a calendar but he did get the memo on the purple tie this morning. i'm andrew ross sorkin. we have a purple something going on here this morning. she is sitting in for becky quick this morning. of course to queue the countdown clock we're getting ready for the november payrolls report. the numbers coming up at 8:30 a.m. eastern time. the economy likely added
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