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Nov 6, 2014
11/14
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beit is obviously going to the ecb, where does mario draghi go? the bank of england, unlikely they will do anything but you never know. in terms of the market, the sentiment is much more to do with what is going on with other central banks versus the european central bank. this was the moment in time when the dollar-yen went 115 for the first time in seven years. everything that the bank of mpedand does is being tru in japan equity's. that moment of deposit when you thought the machine would not work at the equity markets are opening up. weresense in the market we've gone so far and so fast on the equity markets in terms of revival that it is time to take irontle bit of a positive ore is at its lowest in five years. tinto down 1.3%, 1%.o-american down the dollar is still pacing ahead. we are down 4/10 of 1%. numbers, weheir will go through those. have both beens reporting on the slate today. i picked up a couple of german names it delivered. adidas delivered. quarter.ncome for the running shoes and soccer. football. i don't know why people call it
beit is obviously going to the ecb, where does mario draghi go? the bank of england, unlikely they will do anything but you never know. in terms of the market, the sentiment is much more to do with what is going on with other central banks versus the european central bank. this was the moment in time when the dollar-yen went 115 for the first time in seven years. everything that the bank of mpedand does is being tru in japan equity's. that moment of deposit when you thought the machine would...
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Nov 7, 2014
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how much do we make of this unanimity at the ecb. hey said the statement was unanimous and had been a lot of talk going on about how much he was acting on his own at how much of the other policymakers support he had. >> i think it was important because there had been clearly some divisions within the ecb council summit particularly over be on theult it would qe target. it's a something that draghi had been quite specific about previously. again, he repeated yesterday that they were moving the balance sheet back to the march, 2012 level. the elephant in the room, which is when will they do -- he was bearish. you set the tone of what he said about growth was a bit bearish. does that mean locked in, qe. brave, jump forth. >> we had been saying that we inect quantitative easing terms of sovereign bond buying in the first quarter of next year. view, the measures taken are not going to be sufficient really to make a significant difference to inflation and to growth. if we look at what the ecb, even if they are successful in reaching these 3
how much do we make of this unanimity at the ecb. hey said the statement was unanimous and had been a lot of talk going on about how much he was acting on his own at how much of the other policymakers support he had. >> i think it was important because there had been clearly some divisions within the ecb council summit particularly over be on theult it would qe target. it's a something that draghi had been quite specific about previously. again, he repeated yesterday that they were moving...
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Nov 6, 2014
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for the ecb to respond? l seemed so good for the u.k. economy and fast-forward it has given forward to cautiousness as the biggest trading partner is on the brink of another recession. another miss, another sign of weakness. what does it mean for the open, i am looking at futures, dax futures down around 20 points, really there are only two big main events. beit is obviously going to the ecb, where does mario draghi go? the bank of england, unlikely they will do anything but you never know. in terms of the market, the sentiment is much more to do with what is going on with other central banks versus the european central bank. this was the moment in time when the dollar-yen went 115 for the first time in seven years.
for the ecb to respond? l seemed so good for the u.k. economy and fast-forward it has given forward to cautiousness as the biggest trading partner is on the brink of another recession. another miss, another sign of weakness. what does it mean for the open, i am looking at futures, dax futures down around 20 points, really there are only two big main events. beit is obviously going to the ecb, where does mario draghi go? the bank of england, unlikely they will do anything but you never know. in...
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Nov 25, 2014
11/14
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he is saying the ecb is not going to be in any rush. how do you interpret the comments we have had from the ecb? what is the goldman sachs view of where the ecb goes next? do we get full-blown quantitative easing in december? asked december is unlikely. i think the novelty -- >> december is unlikely. i think the novelty is this pursuit of a bigger balance sheet. mario draghi last friday why aned the reasons bigger balance sheet at this stage is important. essentially to get asset prices up and the euro down. thatnk people take from that government bond purchases are going to be more likely if the ecb were to step up this pace of ellen sheet increase in coming quarters. >> do you think it is a question of timing in terms of taking turning that qe program into one where they are actually buying sovereign bonds? if it does, is it going to be the right move, with yields as low as they are? can qe have the right effect? >> i think it would have the right effect. it offers a lot of complications. there are technical ones. we heard the legal ch
he is saying the ecb is not going to be in any rush. how do you interpret the comments we have had from the ecb? what is the goldman sachs view of where the ecb goes next? do we get full-blown quantitative easing in december? asked december is unlikely. i think the novelty -- >> december is unlikely. i think the novelty is this pursuit of a bigger balance sheet. mario draghi last friday why aned the reasons bigger balance sheet at this stage is important. essentially to get asset prices...
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Nov 26, 2014
11/14
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talking about how the ecb needs to be ready talking about additional measures. we were hearing they were calling for additional easing measures and so the list goes on. we're seeing some of that reflected in the currency trades. i want to mention the aussie/dollar, we've seen it stabilization against the greenback today. we saw a bit of money coming off the back of those comments. this after warning its pay for growth would be moderate next year amid trading conditions. you to, what's going on? helia has more on this. >> louisa, they really shocked the market today. that's nothing to do with their results. the woman who basically has spearheaded the massive turn around with this travel company, just 2 1/2 years ago was on the brink of collapse with debt for over 11.5 billion pounds. herery green was parachuted in. she's taken a company 15 misdemeanor market cap to a 2 billion pound market cap. but, today after the -- she has stepped down. now, the chairman was telling analysts, no, it's not a surprise, it's not a shock. it's a unanimous decision by the board. we'
talking about how the ecb needs to be ready talking about additional measures. we were hearing they were calling for additional easing measures and so the list goes on. we're seeing some of that reflected in the currency trades. i want to mention the aussie/dollar, we've seen it stabilization against the greenback today. we saw a bit of money coming off the back of those comments. this after warning its pay for growth would be moderate next year amid trading conditions. you to, what's going on?...
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Nov 6, 2014
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this is the bank of japan doing much, much more than the ecb. to get our hands firmly over is the fact the ecb is a much more conservative institution than the bank of japan. the bank of japan isn't just buying government bonds, they are buying etf's. they have not bought a simple sovereign bond for a good two years. elsewhere, looking at the euro spot, not just going to be about a news conference dominated by whether we will get extra stimulus or not. remember, we still have to wait for the last set of measures to start to kick in. maybe they say patient, as they always do. maybe they wait until december. the element of this, as you know, francine, is the excitement, the theater. there's mutiny on the council. that is something everyone was a little bit of color on. >> thank you, jonathan ferro. minutes from now, it is "surveillance" with john -- tom keene. under you're focusing on the european central bank. it is so much more than europe's concern. this is central banks around the world diversion questec of a kelly. --cks no question about tha
this is the bank of japan doing much, much more than the ecb. to get our hands firmly over is the fact the ecb is a much more conservative institution than the bank of japan. the bank of japan isn't just buying government bonds, they are buying etf's. they have not bought a simple sovereign bond for a good two years. elsewhere, looking at the euro spot, not just going to be about a news conference dominated by whether we will get extra stimulus or not. remember, we still have to wait for the...
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Nov 6, 2014
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annette is in frankfurt with the latest ahead of the ecb decision. tte. >> well, ben bernanke actually had to pay for arguing that there are legal and also political problems when it comes to qe. just as a reminder, berlin, the german government and the bundes bank are adamant about the fact that they don't want to see qe, but it means that the central bank is going to buy sovereign debt. you know there is this theory that this could promote record high inflation because they are not over that -- at 90/20 when the country was rocked by super high inflation rates which then led to the second world war. another factor here, when we were talking about qe, if the eurozone is -- they're working totally different than the united states when it comes to their banking and capital market models. whereas in the states, qe might have worked because capital markets are far more dominant than here in europe. that is channeled by the banks. as long as they don't fund right, there is nothing that can actually work properly in the economy. so what the ecb is intendin
annette is in frankfurt with the latest ahead of the ecb decision. tte. >> well, ben bernanke actually had to pay for arguing that there are legal and also political problems when it comes to qe. just as a reminder, berlin, the german government and the bundes bank are adamant about the fact that they don't want to see qe, but it means that the central bank is going to buy sovereign debt. you know there is this theory that this could promote record high inflation because they are not over...
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Nov 7, 2014
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we know the ecb is just getting started. there is that question of if this is boosting consumer abilities around the world, it could get us into a positive market next year. low inflation and strong growth. >> and you also have to remember this is playing to geopolitics within the region. so saudi arabia, they have no problem seeing iran take a hit or russia take a hit here in terms of prices. this ultimately has to do with what they want to see happen in the middle east and this is not for them, this is about isis, this is about come nabs in the region. this is about taking on the assad regime. it's not a bad thing for saudi arabia. >> i think the bigger front lines of how this pans out is emerging markets. someone in the central bank needs to step outside of that. no one is perturbed right now. >> we're going to leave it there. hadley gamble, that you can for your time. wilfred, with you, now a look at the markets. >> let's have a look at european markets as seema says. we're on track for a third week of gains. all three in
we know the ecb is just getting started. there is that question of if this is boosting consumer abilities around the world, it could get us into a positive market next year. low inflation and strong growth. >> and you also have to remember this is playing to geopolitics within the region. so saudi arabia, they have no problem seeing iran take a hit or russia take a hit here in terms of prices. this ultimately has to do with what they want to see happen in the middle east and this is not...
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Nov 21, 2014
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presidentghi, the ecb says it is essential to get inflation back to target without delay. ustk over an hour at the same event. and, crowning the king. can the maker of candy crush deliver a sequel to extend its rain? we are going to look at the future of mobile gaming.
presidentghi, the ecb says it is essential to get inflation back to target without delay. ustk over an hour at the same event. and, crowning the king. can the maker of candy crush deliver a sequel to extend its rain? we are going to look at the future of mobile gaming.
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Nov 25, 2014
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we talked about the ecb wanting to expand their balance sheets. n argue whether they can actually get it to those levels. surely, by the process they have alone, unless you have massive takers, that seems somewhat inconceivable that they could get to that 3 trillion target. is going to be the tipping point. that will be the ecb holding out and hoping the economic environment will alleviate some of these stresses. >> growth is creeping down. how low can it go and how quickly? like the yen story, we have to be careful to extrapolate. maybe markets are getting bearish about the eurozone's 2014, but not overly so. we need to be careful how far we extrapolate the move lower. we could see a move down towards the 1.20 threshold, maybe the extreme around 1.18. anything beyond that is looking a little stretched. we are seeing signs that the impact of a low euro and the easing of financial conditions will have some impact. that perhaps act as sort of a break. >> what about sterling? results of the election on friday, speculators were very bullish on the poun
we talked about the ecb wanting to expand their balance sheets. n argue whether they can actually get it to those levels. surely, by the process they have alone, unless you have massive takers, that seems somewhat inconceivable that they could get to that 3 trillion target. is going to be the tipping point. that will be the ecb holding out and hoping the economic environment will alleviate some of these stresses. >> growth is creeping down. how low can it go and how quickly? like the yen...
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Nov 14, 2014
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join us for the next month ecb meeting. th talk about bringing investments to europe with the most recent being international the europeand union -- quickhad to the break, a picture of stocks on the move. airbus. up by higher by over 2%, almost 3% this morning. ♪ >> welcome back to i am jonathan ferro. "on thelcome back to move" i am jonathan ferro. adjustedhing company net profit to be eight to 12% of sales. gnocchi a as focused on more long-term contracts. china reported a $9 million loss for the third quarter and china encourages a possible merging of the store network with tesco in china. sales, to be stable or drop by 1% at work. the french conglomerate said construction of broad is helping us with a slowdown and a lingering price war. another beat out of france, the gdp came out above estimates and airbus's third-quarter results also above average. joining us now from paris, caroling. line.ro >> the airbus is up this morning almost 3%, beating estimated recorders with 820 million euros -- with a hundred 20 million euro
join us for the next month ecb meeting. th talk about bringing investments to europe with the most recent being international the europeand union -- quickhad to the break, a picture of stocks on the move. airbus. up by higher by over 2%, almost 3% this morning. ♪ >> welcome back to i am jonathan ferro. "on thelcome back to move" i am jonathan ferro. adjustedhing company net profit to be eight to 12% of sales. gnocchi a as focused on more long-term contracts. china reported a...
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Nov 5, 2014
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it has been market-friendly, which is good for the ecb. has opened him up to political weakness, which could ultimately be a massive problem because we know the big crisis within europe is europe is not a single country. it is however many different national persuasions and the reason i don't use that is because some countries are five or six different persuasions. >> the news conference at the ecb, it turns it into a bit of a soap opera. i matching questions will be asked about this. when you compare and contrast forlimitations of the ecb, the bank of japan and mr. kuroda, who overnight is saying we will do whatever we can to tackle deflation, he is matching words with actions. it is very different. >> i think this is the problem that europe, this conglomerate, how would you collect, a consortium country, a consortium central bank. it is trying hard whereas kuroda abe werethey -- and able to throw the kitchen's link and and go all in. this man is betting with single-dollar chips. >> we will talk about the politics of europe, as ever. as we
it has been market-friendly, which is good for the ecb. has opened him up to political weakness, which could ultimately be a massive problem because we know the big crisis within europe is europe is not a single country. it is however many different national persuasions and the reason i don't use that is because some countries are five or six different persuasions. >> the news conference at the ecb, it turns it into a bit of a soap opera. i matching questions will be asked about this....
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Nov 6, 2014
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the ecb keeping things unchanged. the pressure remains as always on ecb to do more. >> and the excitement is in the news conference. number one is you want to expand the balance sheet by one chilean euros. how can you do that? can you achieve that with what is already announced? are your inflation expectations still anchored? the bank of japan. how do you react to stimulus from the bank of japan. what it did last week is really expose the ecb with how limited they are. >> talked less about the dissent. >> is the theater you can expect once it gets underway in a news conference and reports this week that members were set to mario draghi under his leadership style. you have got to remember these are fragile markets. for the last two years, that pledge and promise. dissent,is widespread you have to ask the question, how able is mario draghi to do anymore than he already has? >> thank you. the press conference starts in just about a half hour. .et's get back to tesla the company reported better than estimated third-quarter
the ecb keeping things unchanged. the pressure remains as always on ecb to do more. >> and the excitement is in the news conference. number one is you want to expand the balance sheet by one chilean euros. how can you do that? can you achieve that with what is already announced? are your inflation expectations still anchored? the bank of japan. how do you react to stimulus from the bank of japan. what it did last week is really expose the ecb with how limited they are. >> talked...
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Nov 6, 2014
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. >> the european central bank will likely keep its interest rates on the floor. ecb's meeting for the first time since the bank of japan dropped its stimulus surprise. economists believe the bank will eventually launch a large-scale bond buying program to kick europe's economy in the pants. as 6% of tesla up as much in the premarket. the electric car maker a jump in orders for its model s sedan. elon musk says overall it should grow 50% next year and probably for several years after that musk also says he has the world's best problems that she cannot produce enough teslas to meet demand. hein baseball, giants, no, is back. you did not expect alex rodriguez to stay out of the news, did you? we have to talk a rod, officially back after that season-long suspension for violating baseball's drug rules. he testified under oath to prosecutors that he used banned substances from 2010 to 2012. a-rod did not give a gift to derek jeter as jeter exited. captain, my captain. >> he is 40, right? >> he is aging we-- do not say he is 40 and aging in the same sentence. >> freudian slip
. >> the european central bank will likely keep its interest rates on the floor. ecb's meeting for the first time since the bank of japan dropped its stimulus surprise. economists believe the bank will eventually launch a large-scale bond buying program to kick europe's economy in the pants. as 6% of tesla up as much in the premarket. the electric car maker a jump in orders for its model s sedan. elon musk says overall it should grow 50% next year and probably for several years after that...
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Nov 24, 2014
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that's when the ecb meets again. big question investors want answered, is he moving to the buying of sovereign debt? --ggies relationship since with the euro -- draghi's .elationship with the euro >> very interesting. coca-cola has criticized world football's governing body fever over allegations. hans nichols joins us now from germany, where some officials are hinting at a potential boycott. emirates won't rid knew its relationship. are others going to follow? others who have stood behind fif a, are they going to jump off? >> coca-cola made a lot of noise over the weekend. concern over what is happening with fifa. perhaps more crucially, the football hadgerman some scalding comments over the has handledow fifa it. issaid credibility of fifa in freefall. core donated action is needed with support of many countries. ist is a -- coordination needed with support of many countries. that is a hint they are thinking of boycotting in russia and and in 2018. this is a german judge that initially did the investigation. he did
that's when the ecb meets again. big question investors want answered, is he moving to the buying of sovereign debt? --ggies relationship since with the euro -- draghi's .elationship with the euro >> very interesting. coca-cola has criticized world football's governing body fever over allegations. hans nichols joins us now from germany, where some officials are hinting at a potential boycott. emirates won't rid knew its relationship. are others going to follow? others who have stood...
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Nov 17, 2014
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i think waiting is betraying the political independence of the ecb. rom germany, the idea that one country and a couple friends gets to block the majority vote is wrong. >> it is my understanding that the germans talk tough but then angela merkel will give her consent. is she waiting for that kind of implicit consent? he shouldtom line is not have to. in any other situation. imagine if it was the french government or the spanish government. was watchingess and saying we want them to tighten rates but we are waiting for francois hollande to give consent. people would be out to burn the down/ >> > but they have the money. >> they are not actually giving anyone the money. the mandate is to decrease inflation. they are betraying their mandate and betraying the processes. >> why is he doing this? to encourage angela merkel's country to spend more? >> i think they are waiting for german approval. i cannot read into mr. draghi's head. there are people who think we have to hold back to introduce more structural reform. we tried that for the last two years, it
i think waiting is betraying the political independence of the ecb. rom germany, the idea that one country and a couple friends gets to block the majority vote is wrong. >> it is my understanding that the germans talk tough but then angela merkel will give her consent. is she waiting for that kind of implicit consent? he shouldtom line is not have to. in any other situation. imagine if it was the french government or the spanish government. was watchingess and saying we want them to...
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Nov 28, 2014
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it's expected to add further pressure on the ecb to act. >> the u.s. consumer hitting the stores after black friday deals after millions hit the mall and shopped online on thanksgiving. >>> astrazeneca tells cnbc takeover prices would have failed due to u.s. tax rules and that any deal would have been constructive. >> if we had agreed to a deal at the time, just like if deal, it would have had normal disruption and destruction in our company. >>> reacting to that announcement from oh pekt, no cut in product right now. >> a little bit of profit taking today. the big story has been oil. brent crude right now trading at a full-year low after opec decided not to cut production. brent crude is trading at $71 a barrel. oil forecasts for 2015 will be cut. interesting to see if we will see a cut to production later on. >> and a lot of the forecasts will be coming down. a lot of the economy is basing their budget on like $100 a barrel oil, right? that is not happening so a lot of that is going to take place. and we might continue to see downgrades, as well. sho
it's expected to add further pressure on the ecb to act. >> the u.s. consumer hitting the stores after black friday deals after millions hit the mall and shopped online on thanksgiving. >>> astrazeneca tells cnbc takeover prices would have failed due to u.s. tax rules and that any deal would have been constructive. >> if we had agreed to a deal at the time, just like if deal, it would have had normal disruption and destruction in our company. >>> reacting to that...
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Nov 4, 2014
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the market is lower than where the ecb is. e inflation expectations are five years out. the market is ahead of him. maybe the eu is coming more and line with the market and the ecb is a little behind. maybe a little bit like an outlier. >> it will be interesting to see changeorces draghi to the ecb forecast since they are so far behind at the moment. >> we will continue to watch this and analyze this. >> dublin is going digital. but's look at tech. -- let's look at tech. 20,000 of the world's tech entrepreneurs are expected to flock to the 2014 web summit. is there to talk to them. give us a sense of the scale of the event. >> 20,000 people flooding into dublin from 86 different countries. last night, hundreds spilled out to the pubs, there was an organized pub crawl. the founder of uber met one of his key investors a couple of years ago and signed the documents there and then. people are pitching away. last year, there were startups again. they are on this trajectory of harnessing some of the elite of technology. you have face
the market is lower than where the ecb is. e inflation expectations are five years out. the market is ahead of him. maybe the eu is coming more and line with the market and the ecb is a little behind. maybe a little bit like an outlier. >> it will be interesting to see changeorces draghi to the ecb forecast since they are so far behind at the moment. >> we will continue to watch this and analyze this. >> dublin is going digital. but's look at tech. -- let's look at tech....
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Nov 21, 2014
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the ecb will stay extremely ill do moreand w and december. ls are there, interest rate differentials are there. the eurold weigh on and support the dollar on the other hand. when you look into the capital flows you have another confirmation that many market participants will buy that story, too. >> let's talk about a market reaction and how you should be positioned. you're not surprised mario draghi is dovish. it will be interesting to see what he delivers. whether or not we get more moves coming from the central bank. you said you are not surprised by what we've seen in china. how much of this easy money story from the two central banks is priced into the market? how much will the extra easy money compensate for the fed tightening? where does it leave the equity investor? >> that is a very interesting point. we think the majority of all the liquidity pumping, all of that support story and the same with regards to economic growth in the u.s. is priced into the market. a big surprise that markets today, when the speech came out, were quite posi
the ecb will stay extremely ill do moreand w and december. ls are there, interest rate differentials are there. the eurold weigh on and support the dollar on the other hand. when you look into the capital flows you have another confirmation that many market participants will buy that story, too. >> let's talk about a market reaction and how you should be positioned. you're not surprised mario draghi is dovish. it will be interesting to see what he delivers. whether or not we get more...
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Nov 4, 2014
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let's talk about the ecb. in a lesson to european lawmakers mario draghi says the scope for the assets are just program is large and will generate significant volumes. ofare joined by paul gordon bloomberg news. he failed to give precise targets. that is what we want. a number. >> it looks very unlikely they are going to get it. the closest they got was in september when draghi said he wanted to see it go to early 2012 levels. he backtracks on that. he is referring to the word sizable over and over. he is saying that about asset backed securities, which have yet to start. there is some debate about how much he can achieve for volume. our latest survey expects he worth. 200 billion euros close to 5here billion euros already spent on that. of course the third layer will be to target longer-term refinancing operations, which could be bigger. altogether it looks like it is going to be short of a trillion euros. that begs the question. does he go for something else? we don't know, and we won't know until the current
let's talk about the ecb. in a lesson to european lawmakers mario draghi says the scope for the assets are just program is large and will generate significant volumes. ofare joined by paul gordon bloomberg news. he failed to give precise targets. that is what we want. a number. >> it looks very unlikely they are going to get it. the closest they got was in september when draghi said he wanted to see it go to early 2012 levels. he backtracks on that. he is referring to the word sizable...
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Nov 6, 2014
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more on the ecb decision. nathan ferro is watching the mario draghi news conference and joins us live from london. what have you got from draghi so far? >> for literature of the euro versus the dollar and gives a good idea -- a further picture of the euro versus the dollar and against a good idea of mario draghi's performance. he really performed today. a commitment in a statement to return the central bank's balance sheet back to the size it was at the beginning of 2012. that is an extension of one trillion euros. he says that yes, we have unveiled measures to get it back we will do more is needed. you see the reaction in the market. >> the only thing it seems like he has sent from the get-go is we will do whatever it takes. clearly the market likes it. what does the european economy really look like? >> he has cut the deposit rate , asset purchase program in the works again, and what does the economy look like? we have structural problems in europe and they need aggressive. that is not down to mario draghi, t
more on the ecb decision. nathan ferro is watching the mario draghi news conference and joins us live from london. what have you got from draghi so far? >> for literature of the euro versus the dollar and gives a good idea -- a further picture of the euro versus the dollar and against a good idea of mario draghi's performance. he really performed today. a commitment in a statement to return the central bank's balance sheet back to the size it was at the beginning of 2012. that is an...
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Nov 21, 2014
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curve, down the risk what type of assets could the ecb buy? gold, possibly? s speech. there is obviously tension within the governing council about buying government bonds. the issues that you talked about before. it is not my base case, but stocks and gold could be compromised. >> that is rather radical. >> does that mean less risky for the ecb because of the prospects involved? >> the risk, from their perspective, is not default or credit risk, but moral hazard risk. draghi andche and a certainsaid to minister down in rome. many things on that letter have not been done. they have basically wasted three years. >> if europe has wasted three years, would qe make a bit of difference because we are already priced in? 4%, here we. was at are, very annoyed. >> it probably will not make a great difference. it will to the currency, but it will need monetary policy by itself just by time. it needs the governments to do their reforms and they will extraly need a bit of help from the fiscal side as well. just let those budget deficits run a bit more. >> give us an idea
curve, down the risk what type of assets could the ecb buy? gold, possibly? s speech. there is obviously tension within the governing council about buying government bonds. the issues that you talked about before. it is not my base case, but stocks and gold could be compromised. >> that is rather radical. >> does that mean less risky for the ecb because of the prospects involved? >> the risk, from their perspective, is not default or credit risk, but moral hazard risk. draghi...
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Nov 11, 2014
11/14
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from one central bank to the next, let's talk about the ecb. i'm joined by lorenti, a former executive board member. they shouldn't be too worried about what the s&p 500 is doing. the message from the ecb would be very much the same. we don't look at the exchange rate. of course they do, don't they? this is something that they should be very happy with. >> that is part of their job. the lower in the euro, the less quantitative easing you need to do. >> about quantitative easing, this is what the market really wants, not just any quantitative easing, but unlimited bond buying. this is what the markets have been calling for all along. it simply isn't happening in the euro world, is it? >> unlimited first is too much. i guess you need to have a target. we started -- the ecb started with private bonds, private assets, asset-backed securities. and the key question is are there enough private assets to get where the ecb wants to go? which is 1 trillion more than today. at some point, the ecb will have to consider what has already basically understood
from one central bank to the next, let's talk about the ecb. i'm joined by lorenti, a former executive board member. they shouldn't be too worried about what the s&p 500 is doing. the message from the ecb would be very much the same. we don't look at the exchange rate. of course they do, don't they? this is something that they should be very happy with. >> that is part of their job. the lower in the euro, the less quantitative easing you need to do. >> about quantitative easing,...
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Nov 24, 2014
11/14
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i think the ecb was telegraphed ages ago. the china development was something of a surprise to be sure. even there, i think how surprised can you be when you look at their pmi oscillating above and below grade the last two years. i think the reality is the u.s. is fortunately not in the same boat. the fed policymakers are going to basically try to take some of that a stimulus out. it is interesting the dichotomy we have right now. >> heidi, it may not be a coordinated effort, i don't think th is the case but this is the neighbor policy and we have seen this round robin around the globe. how does it work and can it be effective when everybody is trying the same thing? >> for a long time we thought the u.s. consumer would save the world with spinding and inspiring the world economy and then went to the chinese consumer and now the chinese gdp is half of what it was in 2007 when it hit its peak. the chinese consumer can no longer spend enough to support the run up in production and prices, commodities, oil, gas, cotton. we push p
i think the ecb was telegraphed ages ago. the china development was something of a surprise to be sure. even there, i think how surprised can you be when you look at their pmi oscillating above and below grade the last two years. i think the reality is the u.s. is fortunately not in the same boat. the fed policymakers are going to basically try to take some of that a stimulus out. it is interesting the dichotomy we have right now. >> heidi, it may not be a coordinated effort, i don't...
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Nov 7, 2014
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. >> for the ecb? they have tried their best. how much more can draghi do without the support of national governments? >> the ecb has gone very slowly. mostly it seems because of resistance from germany. there is not quite shock and awe but enough surprises to make investors more confident about the outlook. the ecb has done what it can. the ecb should have done more earlier as well. >> there is a feeling that mario draghi has done more. is that a fair comment? >> hard to say. he is probably more authoritarian. the other was much more of a consensus builder. draghi realized that wasn't working. he has been more dictatorial and i think that is a good tactic. that has helped bring some members around to his way. >> thank you so much for now. mark gilbert and seijiro takeshita stay with us for a lot more conversation. next, juncker in the hot seat. the commissioner is under pressure about luxembourg's crafty tax arrangements while he was prime minister. the russian risk, we speak to a ceo in an exclusive interview about the risk of t
. >> for the ecb? they have tried their best. how much more can draghi do without the support of national governments? >> the ecb has gone very slowly. mostly it seems because of resistance from germany. there is not quite shock and awe but enough surprises to make investors more confident about the outlook. the ecb has done what it can. the ecb should have done more earlier as well. >> there is a feeling that mario draghi has done more. is that a fair comment? >> hard...
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Nov 11, 2014
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it is unwise to fight the boj and ecb? et, i think the thing to take away from these squiggly lines, these ascending squiggly lines is that the cost of production of these currencies is literally nothing. , and a figure of speech, the central banks are raising a sweat by creating all , theyse units of -- no don't have to raise a sweat. they tap on a keyboard. the cost of production is nothing. they go out and buy things, securities, bonds will stop the swiss national bank rates swiss francs at zero cost with those francs they euros and with euros buys dollars and with the dollars it has purchased $27 billion worth of american common stocks. that is a miracle. that is something for nothing. >> i just want to get a baseline for where you're coming from. in your book, you describe the gold standard as the least imperfect system for monetary policy. is that still where we are? >> yes, that is still the case. >> least imperfect. >> i am packing up my house to move. let me be blunt. all that we just saw on that chart is not an ec
it is unwise to fight the boj and ecb? et, i think the thing to take away from these squiggly lines, these ascending squiggly lines is that the cost of production of these currencies is literally nothing. , and a figure of speech, the central banks are raising a sweat by creating all , theyse units of -- no don't have to raise a sweat. they tap on a keyboard. the cost of production is nothing. they go out and buy things, securities, bonds will stop the swiss national bank rates swiss francs at...
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Nov 27, 2014
11/14
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on the ecb, what are you expecting for next week? will they be able to expand or are they going to wait until they find out the results from the ltro's? >> the meetings are kind of the wrong way around. it would be much better to do ltro first. expect them to speak in a very dovish way. unlikely they can announce anything big. ktrltro round fir two will be 160 billion euros. anything less than that will continue to show contraction in the balance sheet. to market is starting believe a little bit more in what draghi has been saying. that is a positive for europe. we need to see the facts for the banks and the risk assets. >> at some point, the markets will want more than rhetoric. antonin jullier stays with us. here is a look at one of the stocks that is on the move. i think it is one of the biggest gainers in today's trading session. i also want to draw your attention to what we had in the last five minutes. saying a lot of the indices are still not calculating. we will have more on that next. ♪ >> welcome back. i'm francine lacqua he
on the ecb, what are you expecting for next week? will they be able to expand or are they going to wait until they find out the results from the ltro's? >> the meetings are kind of the wrong way around. it would be much better to do ltro first. expect them to speak in a very dovish way. unlikely they can announce anything big. ktrltro round fir two will be 160 billion euros. anything less than that will continue to show contraction in the balance sheet. to market is starting believe a...
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Nov 5, 2014
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there is still far too much being expected from the ecb. the ball has been in the court of a few governments for quite some time. and for understandable reasons, like i've just pointed out. france and italy are unable to actually deliver. >> nicholas, we're going to continue this discussion later on and we'll talk about the ecb and criticism of mr. draghi's leadership. but for now, let's talk about the other big news feed overnight. >>> indeed. republicans have seized the senate for the first time in eight years and expanded their majority in the house. nancy joins me with more on the details. >> that's right. right now, nbc is projecting 53 seats in republican hands, 44 for the democrats. a few key states we should look at, one of which is west virginia. that was a big victory for the republicans. they will have a senate victory there for the first time in over 50 years, so a big win. but the interesting case here is the state of virginia. mark warner currently has been declared the winner in virginia with about 49% of the votes at the mome
there is still far too much being expected from the ecb. the ball has been in the court of a few governments for quite some time. and for understandable reasons, like i've just pointed out. france and italy are unable to actually deliver. >> nicholas, we're going to continue this discussion later on and we'll talk about the ecb and criticism of mr. draghi's leadership. but for now, let's talk about the other big news feed overnight. >>> indeed. republicans have seized the senate...
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Nov 26, 2014
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as a final thought, the ecb is looking for assets to buy. we could put more money into the eib and change that aaa status, do you think these would be assets that would be useful for mario draghi to purchase? -- one waybe one day we could end up with a monetary policy story and a fiscal policy story working hand in hand. >> that is right. behink this potentially can part of the future policy mix within the eurozone. we are seeing that generally fiscal policy is becoming more expansionary, more willing to fund growth initiatives. at the same time, monetary policy is likely to remain very accommodative. if we see the third element coming in, more willingness to put structural reform into place to create a longer-term growth enhancement, these economic policy elements could work together cooperatively and lift europe to high growth. is one of the options the ecb is looking at. >> on a morning when we are covering two big stories, one of which is what jean-claude juncker is doing and the other which is what is happening in which is the bigger so
as a final thought, the ecb is looking for assets to buy. we could put more money into the eib and change that aaa status, do you think these would be assets that would be useful for mario draghi to purchase? -- one waybe one day we could end up with a monetary policy story and a fiscal policy story working hand in hand. >> that is right. behink this potentially can part of the future policy mix within the eurozone. we are seeing that generally fiscal policy is becoming more...
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Nov 4, 2014
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the ecb could follow suit, some say later this year into next. summary so far of what quantitative easing has done, are you a believer, would it be worth the ride? >> it is definitely worth the ride. america got ahead of the game. the americans responded much more effectively and more dynamically. they have the deficit down to a much lower level. economic growth is much more resilient. they sorted out their banks much quicker. everyone else has been slower in comparison to the americans. >> the sharpest turnaround in its fiscal position. fix that is a monumental move. perhaps that is -- when you look at the dispute between angela merkel and cameron and rick -- regards to the position within europe, that is politics at play. do you think markets understand the consequences of what cameron is doing? >> we have too much political risk at the moment and that is causing structural underinvestment in the u.k. which is slowing down that cannot make rose. able to gethas been its deficit down as it is inting better wage growth the united states and better
the ecb could follow suit, some say later this year into next. summary so far of what quantitative easing has done, are you a believer, would it be worth the ride? >> it is definitely worth the ride. america got ahead of the game. the americans responded much more effectively and more dynamically. they have the deficit down to a much lower level. economic growth is much more resilient. they sorted out their banks much quicker. everyone else has been slower in comparison to the americans....
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Nov 21, 2014
11/14
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cme group: how the world advances. >>> welcome back. let's get you some headlines. ecb president mario draghi vows to falter the asset buying program if inflation remains weak. >>> obama risks his relationship with republicans by pushing ahead with immigration reform alone. >>> and kerry talks over iran's nuclear program enter their final phase this weekend. but officials have warned there could be a delay until march. hadley gamble, the dooem deal here is limiting iran's nuclear activities in exchange for sanctions released, but it's just not that simple. >> and politics always being a major part of anything that happens with the middle east. you've got to secure a breakout time. he wants a breakout time of at least a year. he also wants to make sure this works with improvisation. they can't look weak or this deal will fall through in tehran. so it's very important for them. >> and it comes at such a tough time with many foreign nations. if this fails to get through, does it worsen the anti-american feeling across the world? >> it certainly doesn't help. i think if you
cme group: how the world advances. >>> welcome back. let's get you some headlines. ecb president mario draghi vows to falter the asset buying program if inflation remains weak. >>> obama risks his relationship with republicans by pushing ahead with immigration reform alone. >>> and kerry talks over iran's nuclear program enter their final phase this weekend. but officials have warned there could be a delay until march. hadley gamble, the dooem deal here is limiting...
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Nov 24, 2014
11/14
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and so i think the ecb was telegraphed ages ago. the china development was something of a surprise, to be sure. but even there how surprised can you be when you look at their pmi? it's basically been oscillating sort of above and below break even for the last two years. so i just think the reality is the u.s. is fortunately not in that same boat. and the fed policy makers are going to basically try to take some of that stimulus out. so it's a very interesting sort of dichotomy we have right now. >> heidi, it may not be a coordinated effort. i don't think that's the case. but this is a beggar thy neighbor policy and we've seen this do round robin around the globe. what does it mean? how does it work? can it be effective when everybody's trying the same thing? >> it all comes down to the backs of the consumers. for a long time we thought the u.s. consumer was going to save the world with our spending and by, you know, inspiring the world chi, and then it went on to the chinese consumer. and now the chinese gdp is half of what it was in
and so i think the ecb was telegraphed ages ago. the china development was something of a surprise, to be sure. but even there how surprised can you be when you look at their pmi? it's basically been oscillating sort of above and below break even for the last two years. so i just think the reality is the u.s. is fortunately not in that same boat. and the fed policy makers are going to basically try to take some of that stimulus out. so it's a very interesting sort of dichotomy we have right...
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Nov 28, 2014
11/14
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what can and what should the ecb do and when? to be moving to a little bit of a pageant between mr. draghi and his colleagues between the buddhist bank and the german authority -- bundesbank and the german authorities. the ecb has stated it were to increase the size of the balance sheet and to do it quickly but has not happening quickly and it needs to in simple terms. we are really approaching that crucial juncture where the bazooka really has to come out. i think markets have been patient we are convinced of the dialogue from draghi but we need to see action. sovereign bondn buying and is the bazooka come out in december? >> our excitations are we are waiting for the new year and i think there are other elements in the backdrop including from the perspective of overall global growth the weakening oil price is good and the people's bank of china announcement last weekend show the chinese authorities are taking seriously their responsibility to prompt growth in china and then the election in japan on the assumption that the ldp ge
what can and what should the ecb do and when? to be moving to a little bit of a pageant between mr. draghi and his colleagues between the buddhist bank and the german authority -- bundesbank and the german authorities. the ecb has stated it were to increase the size of the balance sheet and to do it quickly but has not happening quickly and it needs to in simple terms. we are really approaching that crucial juncture where the bazooka really has to come out. i think markets have been patient we...
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Nov 3, 2014
11/14
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the ecb missed this thursday. only do we expect headline news but we'll get forecasts on the other key ending, which may pick up following the results, these are looking to private equities as opposed to government bonds. >>> the u.s. stocks set to follow europe into the red after closing out the week at record highs. french advertising giant publicis is making a $3.7 million on the bet. >>> hsbc is the latest global bank to set back from charges. risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. i'd just gotten married. i was right out of school. my family's all military. you don't know what to expect. then suddenly you're there... in another world. i did my job. you do your best. i remember the faces... how everything mattered... so much more. my buddies... my country... everything... and everyone i loved... back home. ♪ [ male announcer ] for all who've served and all who serve, we can never thank them enough. ♪
the ecb missed this thursday. only do we expect headline news but we'll get forecasts on the other key ending, which may pick up following the results, these are looking to private equities as opposed to government bonds. >>> the u.s. stocks set to follow europe into the red after closing out the week at record highs. french advertising giant publicis is making a $3.7 million on the bet. >>> hsbc is the latest global bank to set back from charges. risks and capture...
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Nov 7, 2014
11/14
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. >> the ecb chief mario draghi made the comments after the bank's governing council eating. analysts are speculating the measures could involve the purchase of corporate or government bonds. the ecb also left its key interest rate at a record low .5% -- or 5%, i should say. apologies. we have the latest on how druggy -- how mario draghi's talk went down on the floor with investors. >> the anticipation of further monetary easing by the central bank caused investors to buy shares, but this was not the only reason why people here were especially anxious this time to hear what mario draghi had to say at his press conference. during the last few days and weeks, many rumors went around frankfurt around opposition within the council of the ecb against mario draghi, but he countered these rumors quite elegantly, saying that his official monthly statement about monetary policy was signed unanimously by all council members, and a dinner the council members had went quite successfully and better-than-expected. so whoever thought that this thursday the cards in the game of monetary poli
. >> the ecb chief mario draghi made the comments after the bank's governing council eating. analysts are speculating the measures could involve the purchase of corporate or government bonds. the ecb also left its key interest rate at a record low .5% -- or 5%, i should say. apologies. we have the latest on how druggy -- how mario draghi's talk went down on the floor with investors. >> the anticipation of further monetary easing by the central bank caused investors to buy shares,...
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Nov 11, 2014
11/14
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one of the dean's ecb will be keeping an eye on. ight of the meeting mario are you intouch suggestions of internal strife within the governing house? >> there's certainly a lot of tension appearing between mario draghi and individuals on the governing council. , a lot of thesay stories are probably true. having said that, drive he is in charge -- drive he -- mario draghi is in charge and he said we agreed on a lot of things. >> a good dinner. [laughter] agreement. the ecb saying, they have covered bond buying and ready to buy assets . the asset buying program? started thet really yet. i think the program is an interesting one. saying, we can make most more liquid and get credit flows going. i am not sure how that's going in terms of the securitization of the loan. is a interesting that it big capital charge that the bank holds. the central-bank is buying either directly from the banks or the collateral with the ecb. it will actually free considerable capital and that is toonstraint to lending corporate sector and that should help eco
one of the dean's ecb will be keeping an eye on. ight of the meeting mario are you intouch suggestions of internal strife within the governing house? >> there's certainly a lot of tension appearing between mario draghi and individuals on the governing council. , a lot of thesay stories are probably true. having said that, drive he is in charge -- drive he -- mario draghi is in charge and he said we agreed on a lot of things. >> a good dinner. [laughter] agreement. the ecb saying,...
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Nov 24, 2014
11/14
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the ecb wants to do a similar thing. there is a lot of dispute about these things. don't know. >> professor, there is an accusation going around that the isman economic story suffering from groupthink at the moment, that there isn't enough radical views out there that everybody is saying the same thing, that there isn't a big enough debate in germany about what german economic policy is doing to the rest of the eurozone. do you have any sympathy for that argument, that maybe we need more radical voices? i hear that when it comes to the finance ministry, there is only one economist there. >> is there only one economist? i doubt of that. while germany has a slightly different view than many other commentators, because we look at the problems of europe as a structural problem. southern europe can be cured with more borrowing. we think it has a structural problem by being too expensive. the euro has induced a credit inflationarycame before the crisis. it priced southern europe off its competitiveness. spain, for example, increased its prices during the good euro relative
the ecb wants to do a similar thing. there is a lot of dispute about these things. don't know. >> professor, there is an accusation going around that the isman economic story suffering from groupthink at the moment, that there isn't enough radical views out there that everybody is saying the same thing, that there isn't a big enough debate in germany about what german economic policy is doing to the rest of the eurozone. do you have any sympathy for that argument, that maybe we need more...
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Nov 25, 2014
11/14
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and that is also said by the ecb and others. we can add demand today, but it will only have a temporary effect. >> we are looking at the german dax trading at a fresh two-month high on the back of that gdp data. we're going to leave it there. thank you for your time. >>> and coming up on the show, find out why twitter cfo might need a lesson on using his own company's site. all the details on this very private message that's gone viral. >>> and can tiffany deliver the bling? after exceeding earnings expectations last quarter, we ask if the luxury kwuler can outshine its competitors. >>> plus, we preview the raid decision later today. toothbrush... sweater... extra sweater... headphones, sleeping mask... oh, and this is the xfinity tv app. he can watch his dvr'd shows from where ever he wants. hey. have fun, make some friends. alright. did i mention his neck pillow? (sniffs pillow) watch your personal dvr library where ever you go. with the x1 entertainment operating system. >>> xhodzties continue to be a focal point for investors
and that is also said by the ecb and others. we can add demand today, but it will only have a temporary effect. >> we are looking at the german dax trading at a fresh two-month high on the back of that gdp data. we're going to leave it there. thank you for your time. >>> and coming up on the show, find out why twitter cfo might need a lesson on using his own company's site. all the details on this very private message that's gone viral. >>> and can tiffany deliver the...
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Nov 4, 2014
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if there's anything we know about the ecb, it is too little, too late and reversed too soon. e's an ackerman acronym you keep coming back to. we were talking earlier, since a lot like the academic work that scott sumner did, this lowly blogger writing for years trying to influence policy. it sounds like it is working with you. >> it is working with me. scott sumner is a leading light. he is huge influence on me. he now has a fairly wide following. he makes the point, it is simple but powerful. if you're looking at a monetary shocker in demand-side shock, you will see that in nominal gdp. if this is just about sure actual headwinds in the eurozone, supply-side factors, it doesn't really affect nominal gdp. nominal growth would look about normal and real gdp would be weak and inflation would be elevated. shock. a supply-side and eurozone, nominal growth flat on its back and inflation flat on its back. that is overly tight money. in of story. >> i want to go back to have the ecb has been consistent doing too little too late. part of the shock was it was a total surprise. some of
if there's anything we know about the ecb, it is too little, too late and reversed too soon. e's an ackerman acronym you keep coming back to. we were talking earlier, since a lot like the academic work that scott sumner did, this lowly blogger writing for years trying to influence policy. it sounds like it is working with you. >> it is working with me. scott sumner is a leading light. he is huge influence on me. he now has a fairly wide following. he makes the point, it is simple but...
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Nov 5, 2014
11/14
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those two things moved the dial. some ecb members complaining. meant to percent to do something. which may be smart. theater could happen tonight. how this plays out i do not know. they sit around the table and mario draghi says what are you doing. very interesting. we cannot neglect the rumor. it has been around for a number of months. and mario draghi is fed up wants out. mario draghi himself has not ignored it. a number of months ago, he said there is nothing to this rumor, i'm serving my full-term until october 2019. everybody is talking about that. adage, no smoke without fire. >> who would want the job? gotets paid less than he paid at bank of italian. want,ch job would you central bank president or president of italy? >> the food is better. although you have to be in rome. >> what i will say is i'm not surprised there is infighting, but i am surprised it has become public. can you imagine the nbc turning on governor carney? -- the mpc turning on governor carney? >> if you look at greenspan in the fed, draghi is more akin to the way greensp
those two things moved the dial. some ecb members complaining. meant to percent to do something. which may be smart. theater could happen tonight. how this plays out i do not know. they sit around the table and mario draghi says what are you doing. very interesting. we cannot neglect the rumor. it has been around for a number of months. and mario draghi is fed up wants out. mario draghi himself has not ignored it. a number of months ago, he said there is nothing to this rumor, i'm serving my...
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Nov 6, 2014
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the ecb was unchanged.>> wait until 8:30 when he starts talking and gets to the questions from reporters. >> that's when we need to pay much more attention. we are monitoring that as you can tell from the music. we'll bring you the highlights. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops, tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so when a market move affects one of your positions, tdd# 1-800-345-2550 schwab can help you decide what to do. tdd# 1-800-345-2550 with tools like free live-streaming cnbc tv tdd# 1-800-345-2550 that give you the latest financial news and trends. tdd# 1-800-345-2550 and bubble charts and price charts that let you see exactly tdd# 1-800-345-2550 how market activity is affecting your positions. tdd# 1-800-345-2550 so when the time comes to decide whether to scale in tdd# 1-800-345-2550 or scale out you can make your move, tdd#
the ecb was unchanged.>> wait until 8:30 when he starts talking and gets to the questions from reporters. >> that's when we need to pay much more attention. we are monitoring that as you can tell from the music. we'll bring you the highlights. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops, tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd#...
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Nov 18, 2014
11/14
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there were a few comments coming out of the ecb that quantitative easing is still on the table. it wasn't enough for significant gains and it's not enough to give significant gains in europe today. let's look at the stoxx 50, as well, doing slightly better. at the individual markets, you can see there is strength across the board, but none too pronounced in any of the individual markets. germany, up 0.6%. france 0.3% and italy 0.4%. let's look at bonds. yesterday i was saying there had been a little bit of yield compression. that unwound yesterday and it's held if you remember today. a little bit of profit taking in bonds across the board. a little bit risk on sentiment. a bit of profit taking in bonds. happens, as well, in germany. 0.79%. and the ten-year n uk, just below 2.11%. let's look at forex. the dollar giving up a little bit of ground today. the yen is basically flawed. 0.87% for aussie/dollar. let's talk about what's happening in asia, center of our thoughts today with developments in japan. handsing over to slee jegarajah stanning by in singapore. >> it's over to you
there were a few comments coming out of the ecb that quantitative easing is still on the table. it wasn't enough for significant gains and it's not enough to give significant gains in europe today. let's look at the stoxx 50, as well, doing slightly better. at the individual markets, you can see there is strength across the board, but none too pronounced in any of the individual markets. germany, up 0.6%. france 0.3% and italy 0.4%. let's look at bonds. yesterday i was saying there had been a...
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Nov 22, 2014
11/14
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the ecb is going to use the strongest weapon to buy government bonds.he chinese central bank also cut several benchmark interest rates to get economy there working again. the flooding with money is going on. there are signals for a turnaround. >> we have a quick look at the numbers. the dax finished 2.6% higher. across the atlantic, the dow up by nearly 4/10 of 1%. the euro down against the greenback. german automaker volkswagen has announced a five-year plan that will involve spending 86 early in dollars -- billion euros. >> much of the spending will be dedicated to developing more efficient production methods and cars. the aim is to develop electric and hybrid motors, and a new sports utility range. they are aiming to expand in china their biggest, investing 22 billion euros by the year 2019. >> the formula one season comes to an end this weekend. racing fans look forward to a gripping showdown between archrivals and lewis hamilton. >> hamilton has a 17 point lead on his german teammate. with double points on offer, they could still champion -- they c
the ecb is going to use the strongest weapon to buy government bonds.he chinese central bank also cut several benchmark interest rates to get economy there working again. the flooding with money is going on. there are signals for a turnaround. >> we have a quick look at the numbers. the dax finished 2.6% higher. across the atlantic, the dow up by nearly 4/10 of 1%. the euro down against the greenback. german automaker volkswagen has announced a five-year plan that will involve spending 86...
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Nov 14, 2014
11/14
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CNBC
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this is something that the ecb should be worried about. it could prompt them to do more. in the meantime, we've got another important data point to tell but. this is the eurozone october cpi. 0.4% on the year and that was, again, in line with expectations. the october cpi number on the month is 0. -- negative 0.1%. so once again, yes, we know that we found the top, we found the bottom in terms of the cpi number. from now on, it should be helping us to move higher overall. but this is an economy which is still mired in the threat of deflation, disinflation and very, very meager growth. >> absolutely, karen. as you say there, although this is disappointing data when you look at it in the absolute sense, in a relative sense, most of it has come in line with expectations today. as you can see from the intraday chart that we were showing you of the euro. it did go down earlier in trade as we have some of the earlier data, but it has recovered. either way, the moves slightly, they haven't been back. ultimately, seema, this is confirmation of the situation in europe, but it hasn'
this is something that the ecb should be worried about. it could prompt them to do more. in the meantime, we've got another important data point to tell but. this is the eurozone october cpi. 0.4% on the year and that was, again, in line with expectations. the october cpi number on the month is 0. -- negative 0.1%. so once again, yes, we know that we found the top, we found the bottom in terms of the cpi number. from now on, it should be helping us to move higher overall. but this is an economy...
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Nov 6, 2014
11/14
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essentially saying the ecb is gearing up for more expansion. and maybe there are hints being dropped we could be moving to proper quantitative easing in the euro zone. >> he's been setting the table for some time. but people are looking for the entire thing to be set. and they have been frustrated it's been slow to come. >> mario draghi is an expert at teasing the market. and kept the crisis under control in recent years because he's been tickling and teasing traders almost every week. this time around the pressure is mounting. inflation is not behaving as the euro zone want. and it's long way off target. and there is growning concern about deflation and stagnation if not recession even in the heart land of the euro zone places like germany. >> paul are you still so bullish it hurts? all right we got wait for paul's audio to come? >> i'm still bullish it hurts still. i'll say it for paul. i think the stock market continues to trade higher. lower for longer is going to play out. when the germans finally come on with draghi and agree to what is dw
essentially saying the ecb is gearing up for more expansion. and maybe there are hints being dropped we could be moving to proper quantitative easing in the euro zone. >> he's been setting the table for some time. but people are looking for the entire thing to be set. and they have been frustrated it's been slow to come. >> mario draghi is an expert at teasing the market. and kept the crisis under control in recent years because he's been tickling and teasing traders almost every...
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Nov 3, 2014
11/14
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BLOOMBERG
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. >> the bank of japan is going that way, the ecb going nowhere it seems. >> so far, but they have to. i think draghi is still trying to nudge the germans in the right direction. >> the germans have their own problem. >> they have low inflation as well. they probably need some stimulus as well. it is likely that they will continue to tinker with the program. not qe for sovereign bonds, but they have to do more in corporate bonds for example. they have to tweak some of the settings. just add more stimulus. i think they are not done yet. >> what needs to be done in order for things to move better for europe? world, you would get the major prime ministers and presidents together and agree on something at last. plenty of meetings, but it is really about structural reform. that just buys you a few quarters of confidence and liquidity. the underlying problems, that is something that needs to be done. i think ultimately what we will find is that the more these big central banks do, the less effective it becomes at the margin. in japan, we saw equities rally. boostcremental diminishes. >> but
. >> the bank of japan is going that way, the ecb going nowhere it seems. >> so far, but they have to. i think draghi is still trying to nudge the germans in the right direction. >> the germans have their own problem. >> they have low inflation as well. they probably need some stimulus as well. it is likely that they will continue to tinker with the program. not qe for sovereign bonds, but they have to do more in corporate bonds for example. they have to tweak some of...
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Nov 28, 2014
11/14
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BLOOMBERG
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next week there is the big ecb day. will depend a lot on the inflation figures we get a little later on. exit the e.u.? will they hold onto their power when the election comes in spring of next year? that is the million trillion dollar? it's want to know. before we discussed that in the next half-hour, you can find me on twitter. i will see you very shortly. ♪ . . >> welcome back to "on the move." i'm francine lacqua at bloomberg headquarters here in london. the dax down fro 0.1%. the ftse down 0.4%. now let's get stock specific with anna edwards at the touch screen. what are you watching? >> the oil story. let's have a look at examples of where sweerg the lower oil price still continuing to affect equities. we got the news from opec yesterday. that doesn't mean we're not seeing reaction today. we are. you can see some of those stocks being picked up today. the moves lower in the oil businesses, oil companies, energy companies, oil services businesses. anybody exposed to that oil price being touched by this trend. 9.7% w
next week there is the big ecb day. will depend a lot on the inflation figures we get a little later on. exit the e.u.? will they hold onto their power when the election comes in spring of next year? that is the million trillion dollar? it's want to know. before we discussed that in the next half-hour, you can find me on twitter. i will see you very shortly. ♪ . . >> welcome back to "on the move." i'm francine lacqua at bloomberg headquarters here in london. the dax down fro...
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Nov 14, 2014
11/14
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BLOOMBERG
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the proper gains for the ecb is not that the ecb is in recession.cing ongoing forces.nary they need a weaker exchange rate. how do you derive that? trade globally is weak. the eurozone is so open it is almost as open as the u.k., but it is as big as the u.s. rate really matters here. risksrall you think the are to the downside. >> it is flatlining. >> could we see deflationary pressure? >> more countries are stocking around zero inflation. week real gdp and no inflation. issue forother markets. >> talk to me about how much the ecb is going to have to downgrade numbers when we get the december stock. >> if they are lucky, they will get growth next year. the inflation forecast will get nudged down. to be hugely revised. the interesting thing yesterday, ecb released the forecasters poll. mario draghi can reference it. expectations in the poll declined. to 1.8. inflation is going to be back at target on a long-term horizon. broadly, we seem to be back from the brink. because of the deflationary , is that likely to put us back in the spotlight? >> german
the proper gains for the ecb is not that the ecb is in recession.cing ongoing forces.nary they need a weaker exchange rate. how do you derive that? trade globally is weak. the eurozone is so open it is almost as open as the u.k., but it is as big as the u.s. rate really matters here. risksrall you think the are to the downside. >> it is flatlining. >> could we see deflationary pressure? >> more countries are stocking around zero inflation. week real gdp and no inflation. issue...
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Nov 27, 2014
11/14
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we're a couple of days away from the actual ecb decision. consensus yesterday indicating that we could be looking at the first quarter next year, being the quarter where we see more stimulus being put in place by the ecb. there was a big hint towards buying of sovereign bonds in europe. incidentally, we saw the bond markets moving higher in germany. we saw treasuries being bought up, too, and peppering that with some softer data stateside, as well. looking here at what weir seeing with regard to the ten-year yield at the moment, we're seeing yields being pushed lower. talking about germany, the bund over here. you've got the ten-year german bund. 0.71 now. we're continue to go push lower on the ten-year bund. let's show you what's taking place on the currency markets, as well. we've been very range bound in trade. euro/dollar, 1.2869 at the moment, moving a little bit lower. quite a bit of data out this week. the aussie/dollar recovering against the green back, higher by a percentage point following a couple of days of being a bit walk. after
we're a couple of days away from the actual ecb decision. consensus yesterday indicating that we could be looking at the first quarter next year, being the quarter where we see more stimulus being put in place by the ecb. there was a big hint towards buying of sovereign bonds in europe. incidentally, we saw the bond markets moving higher in germany. we saw treasuries being bought up, too, and peppering that with some softer data stateside, as well. looking here at what weir seeing with regard...