tv Bloomberg Markets Bloomberg November 30, 2015 11:30am-12:01pm EST
wrapping of trading over the 30 minutes. european stocks rising to the highest level in three months. dictation building ahead of euros -- thursday's european built -- european close. the european close starts right now. betty: on this monday we will take you from new york, london, and paris in the next half hour. european stoxx 600 three-month high. started the month as they ended the month. the stoxx 600 rising for a second consecutive month. sinceas not happened raising one million euros. new regulatory standards.
shares are down. we will say it so many times in the next three days. building.pation as we said earlier, every single economist we have surveyed here at bloomberg, a forecasting some --t of stimulus to forecasting some sort of the newest. it all comes down to the stimulus. whether whatnd they do will sit well with investors. on your own home turf, the pound dropping below $1.50 for the first time since april. what is behind that? >> more a case of who is time that. the monetary policy committee. he spoke to the sunday times and said he is relaxed about keeping interest rates at a record low. just the thing below earlier. -- just dipping below earlier.
the pace of tightening will be limited. we will hear from our guest in just a second. betty: more from her forecast and just a little bit. checking in with our first alert news this hour. the westent obama says coast by climate change is the defining coast. president obama was in paris as the conference on global warming began. he say -- spoke of the goals. >> our goals here in paris is to turn achievements into an enduring framework for human progress. , but atopgap solution
long-term strategy that gives the world confidence in a low carbon future. the president said an agreement would be a rejection -- whoterrorists whose struck in paris earlier this month. the president also met with vladimir putin and urged him to tighten down attacks on turkey. pope francis met with muslims today at a mosque in the war-torn capital of the central african republic. he also visited sick children in the hospital. five lengths has escalated into years since muslim rebels overthrew the christian president. the final stop in the three nation african trip. canceling classes after an anonymous threat. messagewarns an online threatened and attacked.
federal and local authorities are trying to figure out who is responsible. that is a look at the first word news right now. and any time of day at bloomberg.com. you.: thank global investors are gearing up for one of the busiest weeks of the year. stimulus.onetary janet yellen will appear before congress when they the last chance to scrutinize the numbers for the last time of the year. i know this is a biz -- big week ahead. are you rest did for this? >> i have never been so rested. the ecb, the dollar, china. let's ask floor more. more.'s explore the big event thursday.
the ecb. in yet that that is the big question. a rate cut price. how important is it or the ecb to flag that more could be coming? >> absolutely. the ecb is well aware when it think itcurrencies, i is the key thing for the governing council this time around. expectations is everything. down trying to tone expectations. there was talk that it made the last communication from mario draghi. there is raining in of expectation. -- perhaps what they're doing is hard to deliver. and the newion whatever it takes.
>> on the matter of the euro, we are at 105. 103 earlier this year, the lowest level in three years. is there a level they would like it to get to? a steady decline? what are they thinking when it comes to the currency itself? >> they have been quite clear they are pricing in the deflation. two major stories this year. deflation against the press -- fastest-growing region. the other is the commodity price move. even though the euro has weakened against the dollar, it still has not been enough to offset the inflation impact. they are saying there is more that can benefit from the inflation rate.
that is because it is negative. when it comes to liquidity, it it is the direct impact of rising six percent. when you look at the credit theth data, it is still data. betty: mark was asking what is price and with the ecb. i am curious if you think markets are more repaired for ecb easing than they are for a fed rate hike. yes, they are. imo overwhelmed after sitting the two mark again. forgive me.
-0.3. i think the ecb will be over delivery. toward -20.n when you look at the german , the bloomberg terminal, this will be further easing in the pipeline. the year on the quantitive side, the market -- i was talking to the former ecb executive, and was suggesting how perhaps they by sixpand the easing months. that is back in. there is the expectation about decreasing. press on all of
this. i was just going to follow up on the fed though. the ecb is likely to over deliver. the fed cannot afford to do that. >> absolutely. if the ecb was to deliver and do no more, i think the risk is the eurot would say the reason weakness has been priced in. we may see undesirable strength, and project really coming out of the ecb, and if they were to be challenging expectations, and ,he first rate hike this month the 75% probability, the messaging is now changed.
in terms of what happens after the first rate hike. it is clear and of world that is negative zero interest rate does not want to see the dollar exchange rate is appreciating much faster and further. >> lovely name. newest member of the boe said he is comfortable with keeping rate low. are you in the dovish camp? view is it -- is the hawk is in dovish clothing. 2000 15 started with expectations of global pharmaceutical companies.
the ecb launches qe. now ending with bank of england managing to recalibrate the market perception pulling away from the dollar and appreciation from the pound. this could prolong longer toward comfortableaving interest rates longer. even though we have inflation close to 10%. consumer retail edit growth 10%. meets emergency level close to 10%. the market are responding to it. good to see you. do come back. will have live coverage of the ecb rate decision and news conference thursday a. there is a new category of aentral banker, a dove,
obama: i have come here personally as the leader of the world's largest economy to say that the united states of america not only recognizes our role in creating this problem, we embrace our responsibility to do something about it. betty: joining us with the latest from the talks is hans nichols in paris. we know there are some pretty lofty goals here on climate change. the big question is how finding can they be? what is the difference this time around? on --s conference is aspirational. they want some sort of aspirational. whether or not they will get there is the tension of the next 10 or 11 or 12 days. bill gates and other on-chip viewers can pledge 7 billion for
research and development. that is something you hear a lot of on the sidelines. accelerator,o have because when you look at that projections, it is clear they will have to come back to the table if they want to reach the two degrees celsius goal. what additionally will they do? we do have the european union talk about reducing by 40%. the u.s. wants to reduce their emissions. china once to cap their emissions by 2030. we do have incremental process, and a lot of indication and good faith. we have not worked out the details. that is what will be challenging. talk to me about the sideline meetings. are they just as important gekko >> --are they just as important? >> that is a good way to put it.
when he met with the prime minister of india, they good -- they gave a good cop and bad cop routine. he was clear they needed to do more to curb the omissions. they did have some sort of discussion on syria. later tonight, president obama will have dinner for a broader security discussion. there are so many heads of state , i am sure you will have dozens of interviews. i am just drawing blanks. they are all here and all have a sideline conversation. mark: back in copenhagen in 2009, there was discussions between rich and poor nations. is there a fear this could happen again. have we evolved since 2009?
hans: a lot of the richer acknowledged. what you do is the development fund. 100 million is the goal. will that be enough? how do you count the money. there is some debate on that. we did hear from a small country in the south pacific. he is talking about a damaged fund. will they get some sort of renumeration from potentially the harmer's in all of this? two sides of the equation. that is what the negotiations are here for. rings will get serious here. the heads of state have made their opening statements. now. takese real reporting place. you need to get on down here and
start celebrating. >> i will be there in two hours. good to see you. i will reserve dinner for you. >> reserve dinner for me. stops. u.s. a bit of a hangover going on from the long weekend? the stock market hangover. my turkey hangover. just gave us two jobs to do. in terms of market, a little bit of a hangover. pending home sales out about our and a half ago, not great. abigail doolittle has more on how the stocks are reacting. overall that is right. stocks trading moderately lower. one is apple. tv and tablets are among the hottest items out
there. this is based on in-store checks at best by, target and walmart. the stock is up modest weight. holidaydriven by shares. michael tourist sees this as a long-term winner in the cloud. his price target is consistent with comment him makes a strong technical case but has yet to retest all-time high of 60 made back in 1999. much, thank you so abigail doolittle at the nasdaq. breaking news on morgan stanley. talking about the tough time for fixed income traders. morgan stanley planning to cut jobs in the fixed income jobs division worldwide up to 25% of the jobs that will be/.
planning to cut fixed income jobs up to 25%. those jobs will come within the next two week. the job cuts will be worldwide. it is pretty much fluctuating here underwater. much more on the story. we will also keep our eye on the bottle of the chart. back again starting off the week. what do you have for us? >> it is back, you are back. i will head around the world. they may just surprise you. the battle is on. ♪
time to take a look at what they mean for investors. joining us is mark barton. let's go and kick things off. we talk about the spread between u.s. short-term yields and dreary short-term yields and that diversion. a similar thing is playing out in the u.k.. if you look at here, the british pound has been following. thes a goal line between u.k. into your debt. debt.2-year with the pound that has spread between the u.k. and short-term thinks that isne about to hike. the u.k. will be on hold for a while. >> we're basically going in one direction.
betty: i know you just cannot wait to tell us about the chart. i have normalized it at 100. looking at the equity space. the best-performing global stock market. bulgaria up by 10%. going to currencies. we track 100 85 currencies at bloomberg around the world. one central bank raised overnight lending rate to prop up the currency. 21%.at that up by the commodities space, the best performer barely rising up by 2%. finishing with on -- bonds. in nigeria, local government bonds up by 16%. it cut rates for the first time
in 16 years. those are your monthly winners. betty: hands down, mark is the winner, particularly for bringing in the -- >> i have no argument against it. >> it is very rare. a sneak peek at the markets. --s talk 600 at the happiest highest and three months. it is all about the ecb. here is what i am watching quickly. china releases manufacturing data. what are you watching? we have economic numbers tomorrow, including manufacturing data. ♪
from bloomberg world headquarters in new york, good afternoon. i am scarlet fu. mario draghi and the european central bank pondering another round of stimulus. it looks like a done deal, not weakens -- and that weakens the euro against the dollar more. today could be a cyber monday record. what does this mean for brick-and-mortar stores? and beijing may get its wish. they could become an imf currency i the end of the decade. first off, we want to check in with matt miller for a glimpse at the markets. it looks like we are at session lows with a lot of central-bank activity this week. matt: we expect a lot from mario draghi and we may be expecting too much from mario draghi. in any