i am dani burger in london. holding steady, philly fed parker said the end of the hiking cycle may be near with potential cuts to come next year. treasuries extend a rally. the u.s. curbs its ambition bloomberg learns that investment into restrictions in china are more limited than first expected. plus, after bank stocks stumble, italy clarifies its new tax on windfall profits, saying it will cap. all right, we are going to give it -- get earnings but first let us look at markets because it has been quite the rally in the 10 year yield. we saw a drop by six basis points yesterday. most of the gains on the front end of your screen happened during the asia and europe session. those gains are maintained today, about two basis points. if we can have such a risk off day, such a flight to haven, flight to bonds on such little information, we have a lot about banking stocks --we knew the picture for regional banks underscores the fragility of the summer market. let me show the stocks because yesterday it was banking st

i'm dani burger. mark cudmore

i'm dani burger in london. u.s. inflation reading, but san francisco fed president mary daly says the bank has more work to do to combat rising prices. country garden a penny stock after the largest property developer expects multi billion dollar loss for the first half of the year. ubs has repaid the credit suisse liquidity assistance in full, and is voluntarily ending the 9 billion swiss franc government protection. ubs confirming not only that they are not going to use the backstop, they are not using the safety net given to them by the swiss government. they are saving -- saying, take away the safety net. the first part was they have terminated the 9 billion swiss franc loss protection agreement. this was the backstop they needed to guarantee that they would acquire credit suisse. second, they have terminated the public with quiddity backstop by smb, that was up to 100 billion swiss francs. the third point is they have fully repaid the emergency liquidity assistance plus loan. that was 50 billion swiss francs to

i am dani burger and london. china's exports fall for a third straight month because of slower global demand while imports plunge in a new blow to the nations economic recovery. moody's lowers credit ratings for 10 regional u.s. banks and says it may downgrade major lenders. plus, the bears are not hitting up yet. marko kolanovic is still avoiding stocks while mike wilson says it is to risk -- too risky to look past a downturn. it is not sending people into 30 year yield. the selloff has continued. video -- 30 year yield climbed seven basis points. germany saw the same thing happen. we are avoiding duration but will we come back into it? goldman sachs says it is overdone and based off information that we already know. it is based off of credit ratings. we knew the deficit situation in the u.s. and we knew the auction would be bigger than the u.s. and will come this week. the 30 year option happens on thursday but even so, yields are moving higher. the bond selloff is easy a little this morning. even so, the yield

i am dani burger. alix steel is in new york. a quick look at your markets . here's where we land. it is the macro forces that are dominating us in a very volume delete week. the euro is falling. we did flirt with 109. german two year yields is also down 10 basis points. let's: 11 basis points. we are just below 3%. it is not just germany seeing this it is also the u.k. too. it seems to be based off the european data, but is having the effect of the global bond market. alix: the euro-dollar is interesting. s&p up 3/10 of 1%. we have personal spending coming in stronger, and come lighter. core inflation coming in. some really fun stories within the equity market. dollar general getting crushed 16%. their guidance is not good. they cut their net sales and earnings guidance. it was a inventory issue, theft issue. at amc, this is just fun. some may think of it as a meme stock. taylor swift is going to put her swift in film. it is a great way to get people back into the movie theater. if a barbie is doing it and eventually you will go to taylor swift. the bloomberg dollar index is up to

i'm dani burger in london with the stories that set your agenda. countdown to the u.s. cpi print. asian equities mixed after a tech-led to selloff on wall street. disney gains after i words -- after hours as tax cuts and hollywood strikes save the company millions of dollars. gas prices jumped the most since march as lng workers in australia vote to strike. brent crude traits near an eight-month high. i will bring you the market check. we're looking at equities that are bouncing back after yesterday. yesterday was led by tech, the selloff. a little consolidation in front of the cpi, topping necessarily specific. futures are doing better this morning, up by about 0.4%. treasuries not doing too much either, we're expecting a 30-your auction following the 10-year auction yesterday which had solid demand. yield coming in below 4%. we got siemens earnings. it is a miss pretty much across-the-board, weighted down by china decline and wind turbine loss. third-quarter industrial business profit coming in at 2.7 5 billion euros, the estimate was 2.9 3 billion euros, net income at 1.2 8 bil

from new york, i am alix steel with dani burger in london. guy johnson is off today. i feel like we are going to examine economic data, inflation, and may be divergence between the u.s. and europe. and how to manage that. dani: there is so much data. it would be unusual but we are about to head into an extended weekend. it feels this data as having even more of a consequence. alix: the volume is not as terrible as monday but nothing to write home about. speaking of, we get economic data coming out, u.s. pending home sales coming in less bad than estimated. mike: there are some magazines considered purses. you can on the cover and the opposite thing happens. the media has been talking about the death of the housing industry and it seems to have turned around, pending home sales up in the month of july, better than the revised figure in june. even june was revised. on a year-over-year basis, pending home sales remain down by 13.8%, but that is better than it was a month ago. mortgage applications rose by 2.3% last week after dropping 4.2% to the lowest in about 50 years,

from new york, i'm alix steel with dani burger in london. thank you for being here. i want to get excited about the price action. there is a lot of data coming out but volume is light. dani: volume is so light. yesterday was the lightest for the u.s. we have had in some time if you do not take into account the half days. it comes back to the data we get. how much risk do you really want to put on a volatile summer month ahead of potentially game changing figures? alix: september is already not a great month for stocks. speaking of, we get that right now. we get jolt and consumer confidence numbers. michael mckee parsing through the data. mike m.: mixed report. we have consumer confidence falling more than anticipated to 106.1. the forecast was 116. even last month revised below the forecast was going to be. the present situation at 144 down from 153. expectations at 80.2 from 88. what economists look at is whether people think jobs are easier or harder to get. the jobs not so plentiful rises only a little bit to 45.6. jobs hard to get 14.1 from 11.3. that may weigh on

i'm alix steel with dani burger. we really struggled with the question of the day today. is difficult to get the takeaway narrative here. dani: maybe the question of the day should have been, do you have a question that can possibly be answered in the world we are living in? it is confusing. it's unfortunate we just came off the back of jackson hole where the data dependency question was emphasized. the data is so confusing. we are dependent on the data but what in the world is the data telling us question mark alix: you can see that -- telling us? alix: you can see that in the data this morning. core services. housing elevated. it is a pick and choose. that is why mike mckee called the data weird. i think that is what we are seeing. it is weird over in europe. may be in terms of stagflation narrative in europe but nonetheless weird. dani: right. straightforward but not exact the comforting. we are looking for any certainty at all, which is how we landed on this question of the day. this is a really difficult one to answer. have central banks done enough? whether it is eu

. >> welcome to bloomberg markets today i am dani burger live in london.es managing