>> new world order, german chancellor angela merkel says europe must plot its own course, signaling drifting relations with trump's america. rely andopeans must put our own destiny into our own hands. >> british airways revised some computer systems that are forced to recover from technology failure. passengers stranded across the globe on a holiday weekend. gradualliams takes a -- finding fighting

policy that worked to a goldilocks economy. >> nothing has pushed me away from that. ♪ >> they cultivate mining, you are welcome its daybreak morning -- daybreak europe. i got the last the a's flight back from the anna with my bags. politics is at the top of our agenda, look at the dollar rand. rand accelerated, rallied by 1.7%, it gave most of that back. it give a void. we saw the highest level on dollar rand since april 12. the volatility is fairly muted every this is the chart you want to keep an eye on. why is it so muted? ,hat rally should continue

emerging market currency. the carry trade will prevail. the fact that summa has avoided you are stillve, going to see a return to form. that's what the track later on. lowness as usual for the and higher interest rate environment would drive speculators that to this currency, that to dollar rand. that's from one or two of the analysts we've spoken to in asia. let's talk about the risks in the market. syncretic,s a very corporate story. of what is going on? we have a lot of markets. the cost is just coming back from a new record high. lower, 30, 40% lower. 31% lower. the south korean

won come very muted reaction as north korea launches a another missile. chiefe a comment from the cabinet secretary in japan that says we need to apply pressure to north korea. it will not come from the chinese, will that come from a concerted intervention? $100 three months ago, adding, that's toast. this is a september future as 62% quinn do, contract is the one you want to focus on because that's act the $50 range. china is taking the inventory in the port, all-time high. oil is still at disappointment pervasive across the oil market. we are back to low $50 a barrel. data, deputy i rose by the most this year. those are the state of play for your markets, let's get cap for

first word news with juliet. good morning. >> north korea has conducted another missile test following condemnation from south korea and japan. the missile, which appears to be a scud variant, flute 400 kilometers toward japan's exclusive economic zone. it comes days after the world leaders vowed to take tougher measures against kim jong-un's weapons development. trump lastent donald out at what he called the fake news media in a series of twitter messages yesterday. the comments came after his trip to saudi arabia in which he didn't hold any news conferences. in one of the tweets, he said, it's my opinion that many of the leaks are fabricated lies made up by the aspect fake news media. the u.s. homeland security has said he might ban laptop

computers in the cabins of all international flights into and out of the country. his comments come amid continuing terrorist threats to bring down airplanes. banned 10 has already middle east countries from carrying on the plane. south african president jacob zuma or has survived a trip decided not to vote on a no-confidence motion. pressure has built on zuma to quit following his decision to fire his finance minister, a move that sparked public test. -- protest. amber rudd has said there are potentially more suspects at large in the investigation into the terrorist attack in manchester. speaking to bbc, he said until the operation is complete, we

can't be entirely sure it's close. the suicide bomber killed 22 people at a concert in britain's worst terrorist attack in more than a decade. federal reserve banker of san francisco, john williams has said trade interest rates increasing this year makes sense. that's as the central bank makes gradual progress to prevent the economy from overheating. >> when you are knocking the boat, you don't run in as fast as you can toward surer and hope you can reverse engineer. it can run afoul. isn'tle of talking about never approach a dock faster than you are willing to hit it. similarly, in achieving sustainable growth, the best rule is to close in on the target carefully and avoid substantially overshooting. be talking exclusively to john williams at 7:40 a.m. u.k. time.

global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . it's been a muted session in the asia session. the u.k. will be closed along with the u.s.. you have seen the u.k. rise from around the 10th of 1%, hong kong stock look ok. it's pretty flat at the moment after hitting a fresh record high for a seventh consecutive session earlier in the day despite but we saw in the north over the weekend. a lot of the commodity-based markets under pressure. s&p eight 600 is down. korean defense stocks have been in play after the north five, the tech is up by on the 2%. mighturces are saying it up its stake in video, but note confirmation from softbank.

check out ever grant. no real news, but we are seeing hong kong developers gain significantly. this stock has doubled since early may and it means its founder has seen its fortune go up by $10 billion. let's have a look at some of the hong kong developers when you chart their moves. china ever grant has been the 31% sinceer for about we saw its moves around march 31. a lot of analysts say it's not sustainable because we know there is a digital bubbles in the hong kong property market. jpmorgan says in a note on friday that ever grant business is not sustainable. manus >> thank you. merkel gave up her strongest indication yet that europe and the united states are jerking apart. speaking at a campaign rally in munich, after the g-7 summit merkel suggests that reliable

relations forged since the end of world war ii are coming to an end. the time in which we can fully account on others is almost over as we have experienced in the past few days. that's why i can only say we europeans must rely to take our destiny into our own hands. in french it with the united states. in friendship with great britain. also with russia and other countries. our very own matt miller joins us from berlin. well done, great reporting. some pretty strong words from chancellor angela merkel after what some would say is a challenging g-7. it must have been some very vexed and anxious moments behind closed doors. i think the animosity started

even before the g-7 leaders rather in sicily. angela merkel met up with president obama on the day before he was to meet donald trump on his first foreign visit. president obama had some harsh words for the trump policy. also on the day before the g-7, donald trump said, in a closed meeting, that germany has been very bad on exports and complained the german auto imports to the u.s.. that was picked up by spiegel, which was picked up by every paper in germany and really aggressively. the meeting got off to a rough start to begin with and then adding to that the disagreement, strong disagreement on climate change, between donald trump, the u.s., and not only germany,

but all six other g-7 members as merkel put it, seven if you include the eu because the eu has representation there as well. it really made things, in her words, intense. >> it certainly did make it intense. very aggressive form of electioneering by merkel? not to be seen as a laptop in any way to the u.s. administration. painting europeans destiny into its own hands, what might that look like? is that a form of news pundit isolation? trump has got his own version of isolation. is this merkel's? >> i think you are spot on in pointing out that we are in an election season right now. you can see angela merkel here are right inhe

front of the csu with the logo. it's the same on other german papers. with theting there leader of the csu and the beer is there. really being aggressive, taking an aggressive act toward the u.s. and the u.k. because she said we will work with the u.s. didn't u.k. in friendship. deepen ties too europe and her push to be elected to her fourth term as chancellor. she wants to make it 16 years. >> let's see what the election polls deliver. met joins us -- met joins us from berlin. great to see you, and you. i've just got back from the middle east as he arrived in israel. i am not quite sure.

how would you sum up his g-7 and counter? pushing montenegrin out-of-the-way, rocking on climate change, give me your assessment. >> i think we are seeing a man that is new to the world stage and not quite sure which way he is really supposed to be going. he certainly doesn't seem to be having that leadership with the u.s. in mind that more his own personal agenda. that's something american politics is going to have to come to terms with. >> the one thing that strikes me most importantly is that before trump, before cameron disappeared come before brexit was in our midst, the words renegotiation of global trade wasn't set to be between the u.s., canada, japan, these trade deals were set to add half $1 trillion to global economic growth. to happent not going in the size and scale we

anticipated. are you worried? more worriedam about the slowdown in china during -- china. it's not going to be a hard oneing, but it does add more concern to the global market. you've got the breakdown from trump following his own agenda, from wanting to fulfill his election promises of the -- bringing jobs back to the u.s.. but the reality of economics is that a lot of those jobs are not viable in the u.s.. that's going to come home to roost. at the same time, we have maybe europe doing better come but still not going strong. at the same time, the backdrop against this is come you got all the stock market trading at their highs. investors are fully invested or wanting to be invested, that also have one eye on the exit door. big bluestays with the

chips where there is liquidity. the small companies, small smes that produced the jobs, really art hitting the support they need. -- are not getting the support they need. macron erupts, onto the world stage. the bromance between macron and trudeau. i think it's rather inspiring to see two young, smart, whatever their politics, they are young and smart and switched on with the next generation. in terms of the perspective for the world. >> i think that's very true. i hope france gets behind macron and allows him to deliver on the promises he's made. hopefully he doesn't get marred down by the existing party line

and means he has to compromise on those election promises. it would even refreshing to see change coming through. andrew sullivan, national stage with the daybreak show. some highlights for your daybreak ahead. we've got markets closed today in the u.s., u.k., and china. we have a race decision in preserve -- in brazil. we write off the week with the u.k. theresa may and germany corbyn facing audience questions on bbc television. we -- as close as we have ever been. that's what john williams said, nearing our goals. we will bring you the details. this is bloomberg. ♪

>> it's 1:19 in the afternoon in hong kong. his 6:19 here. hanging onto a little piece of green. it is ever a very own juliette saly. juliette, how are you doing? >> british airways said many of its computer systems are running again. they recovered from a massive technology failure that disrupted hundreds of flights and stranded hundreds of -- thousands of passengers worldwide. it will run a full schedule today. it's a proportion of short whole programs. unionse called by granted 200 flights yesterday. unions called the lockout to urge the government to nationalize the airlines, which

was put into administration after years of losses. the government rolled out the option and is looking for a buyer. last six months. saudi arabia it could attract tens of billions of dollars in foreign investments in the arab world's stock market as it added to the emerging markets index. he said the bank research is up to $35 billion in inflows, the comments come as the world's largest oil exporter pushes to diversify economy away from hostile field. that is your bloomberg business manner. bank ofederal reserve san francisco, president john williams says three hikes this year makes sense. to 20s. economy is close goals and the central bank need to aim for growth that is, quote, not too hot, not too cold. >> attainment of our goal is

close at hand. it's important to work toward this goldilocks economy. not too hot, not too cold. we want the porridge to be just right. >> so goldilocks isn't knocking on the front door of the u.s. economy and sullivan is the manager. they are going to come out. absolutely wall-to-wall trying -- absolutely believe june is a lock in. they need to do this in terms of frederick. it's important. >> i think is important. there is still data dependent and we have the jobs number at the end of this week, but the reality is the u.s. economy is doing well. we are seeing the markets making new highs. the whole reason interest rates are down at these levels is because they were worried about these companies failing. that's obviously not the case.

they got to look at how do prevent from overshooting in the other direction? the way to do that will be cautious moves with regular moves. , but regular. they also want to get the new rates. some would say it's 2% above. i'm going to show our viewers the cpi and pce, personal consumption expenditure, of which are rolling over to a certain extent. the pce will be the data of choice for the federal reserve. that comes on tuesday. in terms of data sweeps, it's a big week. is this phil or kill in terms of the reflation story on the pce for you? data, ink all of this don't think any data is fill or kill these days.

i think they look at the broad spectrum of things they can. economists in general do that nowadays. we get much more data points, we look at the data as well, that the reality is the u.s. economy does seem to be recovering well. we are seeing people more confident and that is going to turn itself into the inflation as we get that shortage of jobs coming through. i think a lot of people need to be watching the average wage and how that is rising and whether that's continuing to rise because we still have the feeling that there are people at the edge of the workforce that haven't come back get that could come back that's going to remain a concern for the fed, as well. >> that comes tech to the discussion of does the full employment number, where is the ever-changing number? one thing that struck me was the lower volatility. the takee bond market, of america merrill lynch index, at a three year low.

a political race which could drive you up 2%, versus inflation which could take you to 3%. when you look at this repressed volatility and the bond market, where d think we break to in the first instance? three or 1.75? >> i think the temptation is that we break lower. but the trouble is these days emma and it comes back to interest rates, when money is mispriced, then every other asset class really doesn't ring true to the long-term averages, is what's making it difficult for investors and institutions these days. aboutterms of debate where the terminal rate is, where do you see that? what infected think that will have on markets? we look at long-term rates, which is where we should definitely be looking, it's going to take us a very long time to get anywhere close to those.

markets are going to remain very buoyant in the short-term because money is still very cheap. if we are getting people back in employment and they have money to spend, that's going to help the companies grow. once we start seeing that being spent, and we are seeing that in japan, which is encouragement -- they believe it's real demand, all the economy is going to be on the best footing. that's when the fed and central banks can really start reading interest rates back into the long-term in line with the long-term averages. that's what people want to see. >> thank you very much for joining us on daybreak. managing director for sales at high flung it international security. we are going to have a conversation with john williams, he joins the team at 7:40 a.m.. we will have that conversation with mr. williams.

now up next, the data this week may show the strongest euro economic confident in a decade. prices are still struggling. ♪

>> welcome back. a glorious day. lostorth koreans have another missile launch and the here inhave gone right the city of london on this bank

holiday. now, good morning. todayare being kept busy and, if you look across the asian equity space, you see some pretty flat gains. he did get this nudged and there is a total of 23 late rate hikes goalhis is as close to the says they have ever been. back a come back -- come sterling am looking at greenback against the and we are seeing it with a poll thisu.k. conservatives and

is why we are seeing a bit of a the poll showed the was theowing and it worst week and i want to show we are slightly flatter. what is the longest lived short? smallestoking at the they have beend betting against the euro and cut possession. >> there is a new addition of let's take a look

at the top surrounding stories and the leaders agreed to keep trade fair and fight protectionism. they say the statement was less than one third and reflected the and hehed common ground said he would decide on the continuation of the paris accord. there is a changing world order after the meetings with trump. they believe that the relationships are over and that europeans must take the destiny into their hands.

maria says it will be a big day this will likely be his final appearance before the policy decision. to lowraghi will point inflation as he makes the case for keeping policy on hold. this is our swiss guest and it is great to see you this morning. so, how dovish will he be today? expectationthis that the time for the unorthodox end ands coming to an

we are not talking about the and weof asset purchases are talking about being less isish and what we're seeing in the european court and we will have pressure to change the policy. >> i know one of those rather bizarre positions and this is basically the market throwing in the towel on short positions and the longest short that we have to is hedge funds close beating the united states of america and i am talking about europe trumping the surprises of america.

are you throwing in the towel on a short euro position? >> this comment was a very that he wantsion change and he says that the inflation rates are transitory and the ecb is in the driver seat with the monetary policy differential. the fed is looking less likely to increase rates. that the emphasis goes back to europe with a stronger euro. >> we just heard from williams and he will sit down in under an hour. he will be doing three more hikes. that is too far?

do you disagree with the scenario we heard? inif he said three hikes september, that is reasonable. if we are talking about more hikes, that is out of line. we are looking for one in june and maybe one in september. economic data has not recovered he put for the progrowth discount awe would lot of what he is saying if he puts out two more rate hikes.

>> he has a prime excuse of missing a target and he has the timed buyer and we are all focused on whether the language would change. timeata supports him for a and we will show our viewers and with the core inflation the gross number is off of the ability withas the this. does it go with a change in language? and weives him more time are talking about a gentle change of the language with an the easingent that's

andess likely to increase less likely to go negative. it would be a signal that change is coming. moving, butis not there has to be some acknowledgment that the policy tools have to come and that is what the market is betting on and it will be difficult to sidestep this type of signaling. >> stay with us and hunker down. of the strategy and it is not such a beautiful day here. it was wet and raining. remember, if you are a bloomberg

customer, it is there. have all the chance and everything and you have the ability to ask the guest a question. up, this iss coming bloomberg.

and blue on the top of the empire state building. ands the last monday of may they are honoring the men and women who served in the military following the civil war. ok.

andvolumes are very thin lower than normal in asian trading. remembrance inf the united states of america as america wakes up. said many airways has of the computer system is running again and a technology failure stranded thousands of passengers worldwide over the last two days. they said they will run a full schedule and in tend to run a long schedule. the flights yesterday and government has ruled out a buyer

and it will last for six months. become the first company to list shares abroad. laterill make officials in new york this week. the jet receive shareholder approval to boost the ownership limits from 30%. have been approached foreign stock exchanges, including london, hong kong, and single or, who expressed interest in the stock. we hope to become the first vietnamese company to have shares overseas. >> that is your bloomberg business flash. that is what is added and

what does this mean for the flow of money? marketst our bloomberg with the msci halo that can bring this. good morning. >> it is good to see you back and vienna. people weecting the $35 billion, which is what is expected with the capital inflows. see what foreigners are doing and it began this remarkable reform process and

october werem massive and this is a massive reference line where the oil price is. the indications are not going to there areaneous and many other distractions, including south africa, brazil, and turkey. reserves forreign the first time and this underscores the necessity at the capital inflows. thank you very much. says he isnvestor

optimistic about the growth said why he is feeling positive about the economy and where he thinks the federal reserve's help test. >> they are looking at inflation and employment. things, for the economy, look pretty good. >> there are concerns of too much too fast. >> there are many companies who have been paying little interest you can expect bankruptcy on the way. emerging markets getting stronger against the u.s. dollar and that is one of the reasons why they are doing so well. rebounded.ies have

would these rate hikes the? would it be protectionism? what is of grave concern to you? bilateral agreements with all of these countries. >> yes. exactly. >> you see what is happening in saudi arabia. >> trump is going to be very careful and he wants to help himself and you will see that

play out in asia. there was a major city around the world that has a very detrimental affect on the psychology of investors. that was his views on the united states and how the markets are going to react. lace --porate air airways systems are recovering from a massive technology failure that surrounded thousands of passengers. he posted a video apology. >> i know that this has been a some of youe and have been separated from your you have to go to

these very trying experiences. now, our managing editor joins us from berlin this morning. where do things stand right now. he says it has been going on and he has been speaking in past tense. we have seen this before and ande are very intricate this takes days or several days for this to shake itself out of the system. andhave displaced luggage

we will see this going on for another day or two until it has left the system and this is coming at a very and a bitensive time of a storm for cruise in the airline. affect will be a tough time here with the lower pound and people are arctic cautious about spending on travel. what are they doing to mitigate the effect? there wase fifth time a major technology outage. should we be concerned about the issue below the surface? >> this is clearly what will happen and how robust was the system that was in place. and, is a lot of criticism if you look at some of the coverage, they are brandishing -- ranting him as a cost-cutting

spaniard who has cut jobs. there is a power outage that should have been backed up. we didn't know the answer and we are talking about hundreds of and they will have to put up passengers in hotels and ship the luggage back to them. will be seenformat in the next couple of days, he has been onnd thisob for a year now and is a big test for him and can he get out of this? we will see in the next couple of days. >> i think i got the very last one.

did notately, the kit make it to me. attention's back to the united kingdom, theresa may and jeremy corbyn will come from to a face-off tonight an audience of voters. as the conservatives have focused on terrorism, labor has been turning attention's to social policies and the polls were unassailable earlier this month and have shot a single digits. to 10 ahead head we the time on this and will look back and say it was the cost of old age that did it in?

was a reflection points spread ofeve that the labor had gotten large because of the electoral blocs. seen't think that we will too much for -- too much more and i think that they are going into the election and we believe that this will be a positive turnout for the conservatives and good for assets. >> so, you think we have given back most of the loss? week forow a tortured sterling and this was the worst week last week. go ahead.

jump in. >> i am sorry. i am sorry. week and youicult cannot express how much the manchester situation was really confusing and the changing dialogue was changing and it was reflected in this volatility and there is a calm and reflection and we are going to go back to the original trend that we have seen. good u.k. data that is being underpriced in the market i think we are looking at there isnts and

pressure to address the rising inflation. >> we didn't quite get to it, but they market has totally reprice the bank of england. forr, thank you so much joining us this morning.

as course. interesting relations with trump's america. >> we europeans must rely -- to take us into are no names >> british airways does computer systems.

>> taking it steady, san francisco resident john williams policy must work towards a goldilocks economy. rape distillates -- free -- three rate hikes makes sense. nothing is pushed me away from that. >> welcome to bloomberg -- this: europe --

giving back third of 1%. we had made a record volumes in 30% versus 30 day average australian -- 31%. the korean won coming back. it's interesting, virtually no reaction to north korea's missile launch. muted in the market. we rising -- weeks of gains in that market. then saying we need to continue to apply pressure to north korea. >> let's have a look at the iron ore.

we're back down and the china outlook is having an impact. they rose the most this year and the market is building. 49, 69. that is where we are. about that from a political standpoint. bloomberg first word. north korea has conducted another missile test. from onele was fired

side of the east coast and flu towards the japanese exclusive economic zone. this came after the announcement of toughest -- tougher measures. lashed out against the fake news media. didn't hold any news conferences. he says that many of the leaks -- new secretary says that he will ban computers and international flights in and out of the country. they have stopped devices on a prohibitionand

of flights from europe. the committee decided not to decision andg a this sparked public protest. said.k. home secretary there are more suspects at large in the investigation to the terrorist attack. they said they cannot be entirely sure the investigation is closed. john williams has said that three interest rate increases makes sense and will take steps to shrink the balance sheet to

prevent the economy from overheating. >> when you are docking a boat, you don't go in as fast as you can. i remember that that can easily run foul. vote is neverck a faster-- approach a job than you are willing to hit it. we will talk exclusively to john. you can find all the stories on bloomberg. asia and china closed and you have the u.s. and the u.k. closed and no real direction. the record highs have been

they are in the andh korean defense stocks there is softbank closing down and there are sources that could be upping their stake in the video. high and theord biggest jump. you can tell how well the property developers would be the china front seenr is up and that has an owner increase the wealth.

this is outperforming the asian pacific index. >> thank you very much for that and let's check in on the significant move down there. upset and iditor is don't want him upset. change it back to green. hillary is happy and you see this roaring and it will be removed and you have this rocking rally. and we will now turn that around debate, do you believe that politics could

trump this trade? that is how we change things and we live on the edge on live tv here on daybreak. merkel has given the strongest indication yet that europe and the united states are rallying suggested that reliable relations are coming to an end. times where we can only say that europeans must bring our destiny into our own hands. with greatiendship britain and with russia and other countries.

there are strong words from merkel and how would you sum it up? how would you sum this up? andhere were six and one trump clashed with everything merkel went into the g7 and met up with barack obama and he praised her in a move that was

the day before she met with the u.s. president on the visit and herself and she build a deepen ties and closer. what does that mean? franco and german access. it is a form of american first and europe first. consider the business ties and you can do that with

bloomberg and i will pull it up at this is a way to look trade. germany, youck on relationshiplose see that they still look at the thing from the u.s. it is something they had to it. which brands build which cars and what is the economic accelerator impact? shortly andyou

joining us for a bit of wisdom ceo and when you look at of the g7, it doesn't create a optimistic view of growth. the reason is very simple and the animal spirits are very clear and europe will have to pay up more. filled forconcrete how much is presented over the next couple of months. willrsely, they say they take this into hands and invest

this more. >> what does that mean to you? does that mean building new plants? does that mean building more in europe? if trump goes down this tariff folly.t is a fixed of >> you mentioned one of the there is a threat of this, but the delivery is thething we will see and relationship between president trump and prime minister abe is

going from strength to strength. the domestic gross accelerated. >> you see the animal spirits power and hee in and don't rely on the united states of america. there are all sorts of things that may or may not be happening. they will have to get the employment growth and the structure of reforms growing.

they want to reinvest in europe and this is something you don't normally see. share yourlove to optimism. fear of brexit. that is the brink of bankruptcy out one country and it did not change their ways. >> you have put your finger on the polls here and merkel is playing her cards well. she says they will have to do and she saysir own

that she is the pragmatist and not the populist. that is the leadership and means to invest. just recall that wisdom tree. up next, we will hear from the fed president about his rate hike expectations.

oflooking at the shot brandenburg gate.

show and for the open they are bailing out a short euro-dollar position. he is defending his dovish position. british airways have said many of their systems are going again after pushing for -- fullid they will run a schedule and intend to -- he nationalize the airline.

working negotiating conditions during the administration that will work for six months. the emerging markets according to the deutsche bank ceo and he said the research anticipates and that is your bloomberg business flash. banks. federal reserve john wayne says that three hikes that comesand says close. not too cold.

and thisclose at hand is a goldilocks economy that is not too hot or cold. we want the porridge to be right. ande have a ceo with us they are not too hot on the wages. is it really goldilocks? expenditure is is anice upturn and it pretty broad-based perspective it is good coming through. >> will that balance against the great expectations of the fiscal

nirvana of a corporate rate with the middle class income tax boom. against thatnce happened over the last seven months? andt will be very special what will happen with the washington budget? anybody's guess. if you are the federal reserve, you would take and i and see approach think the governor is right about the pace. >> i am on the role with literature. robert frost said to roads to

verged in a would and i took the one less traveled and that made all the difference. do you think this will make a difference? the fed is impatient to get ahead. what does this policy diversions mean for the market. thehe diversions since a one-way street across the board with the policymakers and the diversions is now starting to come through. and ais a clearer rift fronts with the policy recovering and europe has a week banking system

with the diversions on a higher rates and europe is not in a position to do anything. viewersl show you our shortrket cutting the is going to it aggressively beat dumped. do you think that that is folly? be athink that this will andt purchase opportunity the u.s. dollar is likely to be higher. call and thank you for joining us. you heard that the dollar will be higher than it currently is.

play is on thef take.nd what is the will sit downs and have a conversation would john wayne's and we have the european market open next. this is bloomberg.

i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪

which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. manus: welcome to bloomberg markets, the european open, where we bring you first trades of the day. i'm manus cranny alongside matt miller in berlin. here is what we are watching. going for goldilocks. san francisco fed president says three hikes in 2017 make sense. we will ask him in an exclusive interview how he expects to achieve an economy not too hot or cold. and a watershed moment. angela