this is valerie tytel's handiwork. it proves a crucial point.t is now investment grade debt. they are growing in a way that may be the french counterparts all aren't. this is a bond story showing up in the equity story. that's by want to go next. this idea of the underperformance in the french benchmark is actually pretty brutal. we talk about it whether it's a tariff hangover china consumption story which drink makers and luxury names. maybe it's political overhang and this is where it shows up. the performances relative to the stoxx 600. this giant red bar to the downside goes all the way back to 2010. what happened in 2010. this idea of the recovery from the global financial crisis. that's where you see most of the pain. that french had lagged relative to its peer. this is crucial that it's coming in the bond market, in the stock market. maybe not in the currency market. we had a guest earlier saying the euro was far more exposed to maybe the german debts break story. while we wait for what happens with the united states, the federal reserve

valerie tytel, thank you very much indeed for a breakdown.king ahead to pce data out of the ust. israeli shekel higher yesterday on the back of the announcement there has been this cease-fire deal. the israeli shekel is now down about 0.2% versus the u.s. dollar. giving up just some of those gains but we will continue to monitor this for you. trading started at 6:00 a.m. u.k. time so it's been trading for about 15 minutes. let's have a look at what else should be on your agenda this wednesday. 9:30 a.m. u.k. time, we are going to get the gfk consumer confidence gauge, so a touch on the health of consumer. 1:30 p.m. u.k. time come is the gdp printer for the third quarter out of the u.s., we will bring that for you. 3:00 p.m. u.k. time, it is the core pce price gauge, year on year expected to edge up to around 2.8%, month on month around 0.3 percent. will it change the direction for the federal reserve in terms of thinking about the next steps around rates? u.s. president elected donald trump fills two key posts in his economic team as trade pa

bloomberg's valerie tytel, thank you very much indeed. let's continue to focus on the unfolding changes around the political makeup we are likely to see in january, when donald trump takes office. he picked susie wiles, one of the top architects of his political campaign, as his white house chief of staff. she will be the first woman to hold that position paid my goodness, that is a position that comes with a lot of power. let's get the details from vonnie quinn. for our international viewers, give us a sense as to who susie wiles,'s she has been operating in the background for quite some time. >> the ice maiden as trump called her when taking everybody for having won the election. she has been around politics many decades. her first campaign was ronald reagan's in 1990. fast-forward to 2018. she was the architect of ron desantis' successful gubernatorial campaign. get this, when she became the campaign architect for donald trump, it was her messaging that suggested he should distance himself from ron desantis and paint desantis as offput

markets reporter valerie tytel with the details. let's cross over to asia. avril hong cindy by in singapore. quite a day when it comes to chinese equities. avril: absolutely. interesting how they seem to be shrugging off the u.s. election, more concerned with what is happening to mystically. we got data that showed continued signs of improvements and how stimulus is working its way through the economy, through sentiment, and this is following a trend from data, including factory activity in the past week, that shows improvement. the big thing markets are jumping on today where the headlines out of china's mpc. top legislators are said to be considering a proposal that would allow local governments to kind of move some of their off-balance-sheet debt to their official accounts. this is a way for them to fees there -- to ease their financial burden, freeing up money for things like construction and employee salaries, so something that would be stimulative for the economy. this is what we are seeing in chinese equities, outperformance, extending gains from yest

was bring in valerie tytel who has a finger on the pulse of the market reaction. talk about how markets and traders are reacting to the trump victory. >> tom, yesterday we were risk on to the max. we sought not just the s&p 500 have its best session postelection but it set a new record high pre-not just that, you had the dow, then nasdaq the mag seven index all closing at record highs yesterday. we are very positive about this u.s. exceptionalism trade. this progress the u.s. narrative helped with stocks yesterday. i want to talk about other stocks within the u.s. really jumped forward. we had bank stocks surging more than 10%. that was regional banks as well as the big wall street investment banks. highs late last night. that dollar strength rocked the euro. it had its worst session in four years down nearly 2%, lastly, 30-year yields we're worried about the inflationary impulse from more spending from a trump regime. those yields jumped 17 basis points. the narrative in the afternoon did shift toward this progrowth narrative. there is no better way to show it th

tom: valerie tytel, thank you very much indeed, with what to watch for this week and a check on crypto and bitcoin getting further upside this morning on the back of expectations around trump's policies. to germany. olaf scholz says he's open to holding a parliamentary confidence vote before christmas, potentially bringing the february election into play or at least an early election. let's get more and bring in oliver crook, who stands by for us with the details. where things stand this monday morning, ollie? >> we are obsessed with the mechanics of german politics, which will learn about over the next couple weeks. what needs to happen for a federal election to take place is olaf scholz needs to call the no-confidence vote himself, which he will invariably lose, and then trigger the federal election. he was trying to do that in january and have election in march. that has not gone over well politically but also with the german population, which says you need to do this quicker. he has opened the path to doing it before christmas. we could get the election before january and that woul