Squawk Box Europe Express

Swings and roundabouts… easing trade tensions help drive the Dow to a four-day winning streak but Chinese markets tick lower following last month’s producer data marking its steepest decline in three years. In Berlin, rumours of a shadow budget to circumvent national spending laws push Bund yields to a one-month high. In Brexit news, we hear exclusively from Irish finance minister Paschal Donohoe, who doubts much progress can be made in breaking the backstop impasse. Meanwhile, Prime Minister Boris Johnson loses a second vote to call a snap election as parliament is prorogued but he is adamant he will not ask Brussels for a withdrawal extension. We are also live at the Frankfurt Motor Show where Volkswagen CEO Herbert Diess tells CNBC that the U.S.- China trade war is being felt throughout the automotive industry.