Skip to main content

tv   Bloomberg Daybreak Europe  Bloomberg  June 30, 2021 1:00am-2:00am EDT

1:00 am
dani: good morning everyone. i am dani burger.
1:01 am
alongside me is yusuf, live from dubai. vexing optimism. stocks rise as modernity says they have antibodies against the variance. more than -- vexing doses have been given. chris waller says a strength of the economy since going back purchases sooner than expected. we will bring you that, exclusive interview. plus, inflation focus, we are set for cpi readings from france, italy, and that eurozone today. good morning. happy last day of the first half. as things stand, if global equities can continue or hold on, this will be the best start to the year for the all country world index since 1998. this this mean that good times
1:02 am
keep rolling, or are we now on bubble watch? yousef: you had strong economic data. we had the biggest jump in house prices and 30 years, 14.6%, the latest number three came through. a tweet was righted that housing bubbles are also curing many other economies and emerging markets, the boom and bubble will eventually be followed by a bust and a crash. dani: but that in context of the fed's chris romano telling the word -- christopher wallace sing a successful market does not be more support. will the fed tick action not just because economy is strong but to try and top off the market? yousef: i caliphate officials
1:03 am
keep finessing the message, recalibrating, tweaking, we are in the middle of it try to figure it all out. let's get to some of the market action. here is the state of play across the import metrics. we're looking at the extent of record gains, u.s. 10 year yields, largely unchanged. we did have a massive bond issuance that move things around a little bit. euro-dollar, flat. the dollar strength is falling from its highest level in a week on some of those flows. the preliminary talks at opec-plus have been delayed during divisions of powerful behemoths between the group including saudi arabia and russia, we will see with the next hours bring on that front. let's get to our top story and
1:04 am
more detail. the feds news voting member, christopher waller, he says it is time to pull back on stimulus and has not ruled out a rate hike next year. >> will have to come back very quick and the unemployment rate would have to drop fairly substantially, or inflation would have to really continue at a very high rate before we would take seriously a rate hike in 2022. i'm not ruling it out. yousef: joining us now is sonja laud, legal and general investment management cio. let me get your latest comments. sonja: i don't think it should be too surprising. we have been looking, economic news is very positive, we have watched two consecutive inflation surprises, you had the house price inflation this morning, the cyclical recovery
1:05 am
is fully on the way, the strength is quite phenomenal. the? -- the question mark is on stimulus provided that would be removed. i think this'll be a dominant theme over the summer because we have to think about what is next. dani: does it matter to you what form that tightening takes place? that tapering? if it is initially through mbs, waller has suggested that as we see that rise in housing prices. sonja: overall the market will react very sensitively went and how quickly this happens. whether this is targeted against the classes highlighted here because of the dramatic increase in house prices or more general, big we will have to prepare this will be a more general tapering
1:06 am
emerging leader in the year. i would not be too focused on where it is. i am pretty sure that all central banks will monitor liquidity in particular very quickly when they start tapering and in particular for the asset classes a while. it will be done carefully. we have to assume it is not just topped when sims is removed. yousef: we had that moderna vaccine to show that is effective against the delta variant and a gave a shot in the arm to risk appetites, stocks reaching another record high, is this an inflection point for you in terms of the agility of policy makers some of the pharmaceuticals in your ability to deal with an evolving story of coronavirus? sonja: i'm not sure. i think we had positive news before were pfizer biontech said that there vaccine was being
1:07 am
adjusted and is more flexible and modified to deal with new variants. this will not be the last time we are facing a new variant and the adaptability of new vaccines is important for us to deal with the outbreak longer-term. good news because the indian variant has been so dominant not only in that u.k. but also emerging elsewhere. to me, vaccination now will be a common feature. it is very clear that it is about managing it, whether we will get fully get rid of it is a different story. dani: with that in mind, how does it play into your investing thesis with variants rising, how do judge when it is time to shift gears? sonja: i think it is more of the
1:08 am
question of shifting gears within the asset classes, as we started our discussion, it is still very clear, the economic recovery is fully underway. led by the u.s. who has moved towards midcycle, slightly so but now followed fully by europe and then with a slight like the emerging markets. the economic story is very clearly working perfectly. nursing the early part performing well on behalf of -- on back of this. we are more arriving at the index level in more movement underneath. we are adjusting to the early cyclicals to the midcycle of preparing for potential shifts. the discussion around tapering will have an impact. i think we are expecting a lot more movement underneath and is the in defecation -- the identification. the pandemic has created a lot of shifts, or e*trade to be more
1:09 am
tactical with the shifts in the cycle. yousef: the research suggest that any inflation in excess of 6% will be negative for equities, does that mean you actually believe it will come close to that? what are you penciling in for that journey? sonja: this is not our new base case, we had to adjust to quite significant upset surprises because of the temporary base affects that have been coming through in the data. the question here for us is, what is a new normalized inflation level. clearly we do not expect this to reach levels on a more prominent basis compared to what we have seen now. we actually expect there will be normal level towards the 2% mark by the end of next year and into 2023. as everybody else, we are keenly
1:10 am
watching the more important features, the labor market, that is more important indicators to the sustainability of the inflation trend. dani: we will get more inflation numbers from your this morning. thank you for sticking with us. that is sonja laud. let's get to the first word news. >> opec and its allies have postponed preliminary talks to allow ministers to find more time to find a copper my spirit the group is considering how far a hike upward as oil demand bounces back from the pandemic. they were now conveying the advisory body of the same time as her policy meeting on thursday. modernity shares rose to an all-time high after its vaccine was found to produce antibodies protecting against it delta strain. the studies show that it shot
1:11 am
should protect against newly detected covid variants. shares got a boost after india improved -- approved vaccines former judean use. we will be speaking to the cofounder of madrona at 10:30 a.m. london time. global news, 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bill burck. -- this is bloomberg. yousef: let's get you a bit of a snapshot of what is coming up. we will be hearing from the ceo on investment opportunities and liquidity risks. a fascinating conversation, right up next. this is bloomberg. ♪
1:12 am
1:13 am
1:14 am
yousef: welcome back to bloomberg daybreak: europe. i'm in dubai with dani burger in london. the ceo of -- the warning on liquidity and that there are too many people who are pouring into the same private credit trains and also miscalculated the risks. >> record levels in terms of financial conditions. there is a good reason for that. a lot has been put into the system by a central banks and governments. it has to go somewhere. where is when you go to the -- world, you have a contrast between on the one hand, liquidity, that has done wonderful things to so many assets, on the other hand,
1:15 am
fundamentals or we are seeing an enormous amount of dispersion on account of covid, policy flexibility, an account of financial resilience. the big question any investor must face is a liquidity dominant factor? >> we all know liquidity is there until it is not come we look at investing over the next 6-12 months, are you most concerned about liquidity drying up? >> thank you for having us. that is the challenge i here, there is a notion of foam a it respect in terms of daily basis. we have to put up i make sure it is secure. biggest risk may lie were people think there is the least amount of risk. that is in liquid securities,
1:16 am
when does not get paid for the potential on liquidity. the other task is, the opportunity cost of quitting when one might not be there, and two, this -- do they need their money back? there are better places to go, they need to be careful about what is really liquid and what is not when they need it. matt: what is the turn going to look like and how do you expect that to hit financial markets? we have already seen a more hawkish tone from the fed, ready seen three fed members, that happens, how will that affect liquidity in markets? >> we need to go back in time to the taper, i guess that they
1:17 am
would need to be less liquid than they were. the reason for that, is, how much larger has allocation gone. it is so much larger, size and number of banks is so much smaller. it is not if it is going to happen but when. it is defined by out lose, that is when you see the allocations. matt: runner about that financial system, we did not see, this time around, a problem with the financial system as we slipped into recession, held pretty strong. we credit regulators with that, have they both of enough capital buffers, are their balance sheets in good enough shape to whether anything at this point? >> good news bad news, the good news is that banking system has
1:18 am
built up a lot of resilience. it has done so in terms of capital buffers in the wrist air taking. they are being supervised and regulated closely. the bad news, and we saw a in march of last year, the non-banking system, where there is a lot less resilience and with the paradigm changing, there is not enough risk absorption capacity, what do you get? the thing that everybody fears most. nonfunctioning markets. dani: bremmer see cio, their own investment opportunities and liquidate risks. let's get our view on that from our guest post for this half-hour,l --sonja laud, legal and general investment. does this play into your investment strategy at all, are
1:19 am
there any asset classes you would avoid because of this fear over liquidity? sonja: it is very clear that liquidity observations is a much more prominent feature in the investment process, not only because the regulator is focusing a lot more on how asset managers are measuring and integrating liquidity considerations into their processes, for a good reason, we know that with those changes in the availability of them as an absorption mechanism, it is reduced. we have seen during the pandemic , when it hit the most, we have seen real liquidate bottlenecks emerge, hence the potential making sure that they can help your. there is another shift on the way, with bond you so incredibly low, we clearly have seen a lot
1:20 am
of investors looking for turnips , the average portfolio is not delivering what used to, mainly that the guilds return in the hedging benefit. as investors, we have to be very mindful on whether those alternatives will provide liquidity provision with their average bond portfolio. that is part of what we are watching very carefully and has that regulators attention towards us to say, if you are investing in these classes, how are you making sure you can still trade and provide liquidate when you need it? yousef: are talking to folks at franklin templeton, they were making the point that because the opportunity is a lot less now due to the competition in the united states, or a devote markets, it is time to look abroad, if you are approaching this within is sheet mindset,
1:21 am
this at mean that there are not as many options out there? sonja: very good question. you have to look for alternatives globally, if you look at alternatives for your portfolio, i think in c provides a yield bit looks very attractive. if she consideration is everywhere. does not matter if it is the developed world or emerging world. terms of the headline numbers, if you do not get emerging-market, it looks less friendly. to us, the key is in the engagement and working with companies everywhere. making sure that is she goals can be achieved. to us, it is not so much whether there is a clear winner, to us is that the individual company is aligned with standards we
1:22 am
would see in that there is a clear work towards achieving those goals. in that context, you would probably find q opportunities in the emerging markets, although headline numbers my nuts just so. yousef: thank you for it during the program, very insightful. that is sonja laud from legal and general investment management. we'll talk about china's commonest party because they are celebrating 100 years since founding. we look at successes, failures, and the challenges that lie ahead. this is bloomberg. ♪
1:23 am
1:24 am
dani: welcome back to bloomberg daybreak europe. i am dani burger in london alongside use of in dubai. during to china where the ruling commonest party marks a century
1:25 am
since its founding on july 1 as it tightens its grip on the country and adopts a more assertive foreign policy. our china correspondent tom mackenzie looks at key periods in the history and where it is headed. tom: china's communist party was a seeker group when first congress was held here in 1921. 100 years later, it is the ruler of a fast rising world power. since coming to power, it has been the center of key period's in modern china. a virus outbreak that exposed the authoritarian flaws before a successful containment was turned to the parties advantage. behind me is the site of the first congress surrounded by shops and high and restaurants.
1:26 am
it has arguably reshaped china as much of the dynasties that came before. the party has tight its legitimacy to the economic transformation in the fight against poverty. where than 800 million chinese have been lifted. a brought the party is predicting strength and defiance, pushing back against criticism and that one party rule is china recovers from the pandemic. it remains wary of any challenge. it continues to silence dissent, whether on mainland or hong kong and constantly implores its people to follow the party forever. dani: bloomberg's tom mackenzie on this the foundation of the party. we also check out the month of
1:27 am
june. it does look like there is a sense of stability or at least stabilizing the chinese data. let's go to your gtv to see this chart, the is about where we saw last month, a little bit of cooling. one of the big surprises in here is that services saw a big disappointment. maybe has to do with the outbreak in the south of china, some restricted movement, also restricted movement when it comes to the anniversary as well. how much of that is really affecting assets? yousef: we are pointing a little bit higher on some equity futures. for that united states there will be an extension. the gold announced, headed for the biggest monthly drop in more than four years, the stronger dollar is playing into that and investors are weighing in the outlook for monetary policy after the feds slightly hawkish
1:28 am
shift. sucks in china are up, u.s. 10 year yields -- not much movement and treasuries. look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance,
1:29 am
stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last, a diet pill that actually works. go to golo.com to get yours.
1:30 am
yousef: the morning from bloomberg's middle eastern headquarters in the bite. i am yousef with dani burger in
1:31 am
london. vexing optimism stocks rise as moderna says there shot produces antibodies against the delta variant. more than 3 billion vexing doses have now been given. christopher wilder says the strength of the u.s. economy warrants scaling back some of the asset principle sooner than expected. we will bring you that exclusive interview. inflation focus, we are set for cpi reading some france, italy, and the eurozone today. what a set of data from the united states, dani, u.s. house prices are rising the most in three decades, in excess of 40%. it ties into the broader argument of u.s. outperformance relative to the rest of the world. implications for assets across the world. dani: u.s. does not trade in a vacuum. we saw u.k. house prices rise the most since 2004, that has
1:32 am
some to do with tax relief. if you are looking for potted -- pockets of the market to be concerned about, housing or equities, it feels like it is everywhere, yusuf. yousef: latest commentary from some of the fed officials, christopher waller. it throws a bit of a wrench in all of this. the market taking it in stride. what are some of the moves? dani: i'm curious if anyone in england is trading these markets. there are still people celebrating out in the streets with england's wind against germany in the euros. maybe that is why we are unchanged in the euro sucks. we are seeing -- euro stocks. we could see some rebalancing flow in here as well. we have oil moving higher, over $75 a barrel, with opec delaying their meeting by one day. but natural gas on their, it has been ripping face, as matt
1:33 am
miller would say because of how hot it is in the u.s. probably something you are used to in dubai, they have had to cope with temperature degrees over 40, i think that means everything falls apart in the u.s. infrastructure. yousef: i am used to face ripping. [laughter] thank you, danny. dani: i meant the hot temperatures. i am not used to it. as the u.s. deals with those hot temperatures and increase into your, let's take a look and see how we have been over this first half of the year. something interesting, something in your gtv library. we saw european u.k. stocks keep up with the u.s., which is in blue. over the past few weeks, we have seen the u.s. jump higher, it is outperforming versus your, u.k., that value benefit that those have gotten here in europe is trying to fade. let's get a look on what is
1:34 am
ahead and behind with ben ritchie. thank you for joining us. if you look at the picture of the u.s. starting to outperform europe once again, do you fade that outperformance or do you assume that it is in favor of european equities? ben: i think the story run european equities for me has not always been route -- been about being selected. you have seen outperformance against the u.s. europe has always been a stockmarket, i think that remains the case. but we are seeing in recent weeks is a bit more about refocus, the more structurally growing areas of the market, focus on the way of cyclical. that is what has driven the performance in the u.s.. we need to weigh all of those
1:35 am
things and balance them. malic the most attractive, but it may not be a good opportunity to launch them as well. yousef: you are still attracted to areas that have exposure to structural growth. that is a great scene center, let us flush that out a bit more. we looking at sammy's, software, where are we looking for some of these? ben: absolutely. it is around those companies that you think have a sustainable, long-term profit. that is what we're looking to do. that has not necessarily been the place to be over the last seven or eight months. we have seen that strong value rotation. we very much stick to what we do. we need to do the in a way that makes sense for the long-term. unfortunate for europe, it tracks investors at cyclical points. investors will come to europe
1:36 am
looking to put their money to work in cyclical terms in the market. that not only leaves a little bit dysfunction, with long-term markets, if you're looking for long-term investments in europe, you have got to be focusing on the structural growth areas. consumer goods, luxury brands, those types. dani: when sector we have yet to go over is travel and leisure, recent days it has been hit because of the delta variant. it will point, do those concerns go from something idiosyncratic that affect those stocks to a more general macro issue for europe? ben: i think has been one of the fascinating elements of the covid crisis, we're having this conversation this time last year, talking about covid winners, would be focusing on companies where demand is resilient against the top backdrop. the real covid winners in my opinion would be those greasy
1:37 am
supply disrupted, the has created levels of pricing power for those industries. that is where you see some of the more cyclical segments like steel and mining, even things like freight. those have massively benefited from that supply disruption. with any sector, you need to be quite selective looking at that dynamics, travel and leisure is one of those were demand remains under pressure, we have to balance the impact for some of these elements, it is not just about demand, it is about supply. yousef: in terms of mergers and acquisitions, what is another component that is underscoring your research and you argue that it is going to increase, something that not a lot of people can subscribe to. how is this going to occur, remain on country by country or will be finally see european governments that were about the
1:38 am
rulebook and get some cross-border mergers going? ben: m&a is coming through in major ways, we have seen activity delayed. there are more strategic moves, the same time, we've seen areas where prices have been a little bit depressed and that has attracted investors. we have seen in the u.k. in the midsize part of the market. we have seen investors, private equity, looking to put capital to work. i think that is interesting. we will continue to see that, those very good midsize businesses. i think investors should continue to look in that area and we will continue to see interesting opportunities coming through. dani: what about in the banking sector? there have been rumors about credit suisse and ubs, do you
1:39 am
expect more consolidation in european banking? ben: consolidation in european banking is something people have been talking about since 15 years ago, it has happened as we have seen patchwork deals come to market, i think if you were ever going to see it or start to see it over the next 12-18 months, the conditions are there, it is stable, the banks conditions are in a reasonable shape, they have to cut cost to drive up returns on capital. i think that they will come through. it is that combination of economics against politics and the politics is what makes it difficult at the end of the day. yousef: you have made the point that you believe this is a stock market, if you had to make a bet on a specific index that is likely to emerge in the top spot
1:40 am
by the year end, which one would be? ben: it is a great call. there's one thing that your gives you the is a selection of country. if you're more optimistic around the cyclical recovery continuing, the dax would be the one for you, if you're looking for that value recovery, you're probably somewhere in the ibex. i think this will create sustainable -- for me, the denmark looks better. it is about what your view is on the overall market within that. yousef: we will make sure to compare notes as we get closer. ben ritchie the aberdeen head of equities. let's get you some first word news. annabelle: the u.k. has a close
1:41 am
brexit subsidiary plan promise to be more -- a key sticking point in the talks. the government says the new regime will back into emerging british industries and create more jobs. the new york city board of elections is taking down reported results for the democratic mayoral primary election. 135 thousand ballot images were used were testing and mistakenly counted. results posted earlier suggest the latest runner had narrowed to just two points. the board of suez has recommended a take of veolia paving the way for the water giant. to resolve concerns that they will sell about 40% of acquired assets to a group of investors led by meridian and global
1:42 am
infrastructure partners. global news, 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bill burck. -- this is bloomberg. dani: coming up, an exclusive interview with the chinese automaker geely, his thoughts on tesla and a new car. that will be next. this is bloomberg. ♪
1:43 am
1:44 am
dani: welcome back to bloomberg daybreak: europe. i am dani burger blended with yousef alongside me in dubai. listen to china were chinese automaker geely is exploring its fundraising options after backing away from a listing start born. it is first international media
1:45 am
interview since becoming ceo, daniel lee told bloomberg's tom mackenzie that he is confident about consumer demand in china. let's speak to tom now who joins us from beijing. what were the main takeaways in your mind from your conversation with daniel? tom: this was a long interview, we asked about a number of topics, supply chain, schip -- chip shortage. that shift towards electric. it is china's largest private automaker, they owned a volvo group, they also have the biggest shareholding. i started asking about the demand, they set themselves a target of 2.2 million deliveries period i asked them, given the supply chain challenges, given something of a gap in her own china's consumer, where they still on target for that 2.2 million? daniel: they decided that we
1:46 am
will seek the opportunity to be listed in the stock exchange. we believe the market and its regulators will come with support. tom: will you be looking for evaluation above? daniel: we cannot say we target to be them.
1:47 am
we are confident that it will be a very good variation in the market. tom: and an ipo in september of this year? daniel: we will see the communications with the team and the regulators and also potential investors. we do not have any pressure on the timeline, but we believe it will come fast. tom: did volvo make apple's car? daniel: i think it is possible for new-car development -- tom: including apple's car. daniel: i don't mean the car itself, i just mean the new model of smart cars with all the
1:48 am
best features and connectivity's, auto drive, shared mobility for the best user experience. tom: have you had any conversations with apple? daniel: no. tom: but you would welcome that conversation? daniel: yes. we are open to have the partnerships with strategic, industrial, leaders who found the strategic partnerships. we have a partnership with cebu, we are open to interviews, this kind of partnership and business
1:49 am
models and any potential strategic partners. tom: tesla has faced a few headwinds, a software fix for almost all of their vehicles in the chinese market. some concerns about security features. his china turning on tesla? daniel: i believe the chinese government and consumers are quite open. in the end, it should certified the fundamental requirement, including connectivity's, but also -- i don't think anybody is trying to make -- deliberately to tesla. tom: that was the ceo of geely
1:50 am
speaking to me exclusively, his first international media interview since he took over that role. he did say they think they will meet that target by the end of this year, despite that chip shortage issue. he said that was taking the deliveries across the group off for them. they will meet the target. this is as one of the makers is struggling with that shift to electrification as you are seeing in the u.s.. about 5% of their vehicles delivered last year were electric. yousef: briefly, anything at all about future tieups? tom: he talked about apple, that is a question on many peoples lips, what that technology company will be doing, producing their own car and if they will be tying up with anyone. geely thinks they are well placed in terms of technology to
1:51 am
be able to work with a company like apple, even if they have not yet had conversations. we also -- it is interesting to hear him say they do not think they are turning against that company. tesla has had to go through a software update of almost all of their vehicles in china. there also some security concerns. we talked about fundraising, they were hoping for the group to raise funds in shanghai. as been postponed. we're looking at volvo ipo, likely in stockholm. it could be anywhere in the next few months. sources say they could be looking to raise through the listing. yousef: thank you for that. bloomberg's tom mackenzie. a quick update, unless hour or so, a bloomberg screw the scoop. another dominant appears to have fallen, led be alibaba in the
1:52 am
provincial government, nearing a deal to buy a stake in the retail, the chinese be talking, that is according to people familiar with the matter. we will be watching this in the coming hours. dani: we should also mention a majority owner which tease me up perfectly so what we will be discussing. that is, if anyone was under a rock, coming home. ryan sterling, making a decisive rate through against germany to undo 55 years of hurt for england. how did sterling do after the game? a great pun there. we discussed that next. this is bloomberg. ♪
1:53 am
1:54 am
1:55 am
yousef: welcome back. england and a 55 year wait for a knockout with jeremy. making through to your against ukraine. the decisive breakthrough when you push the ball into the net in the 75th minute, this would not be a bloomberg show if we do not ask, what does it mean for correlations, or does it mean for the pound sterling specifically? let's find that out with bloomberg's fx and rate strategist. run me through what stood out to you in the mid-minute johnson? >> it was a slow market yesterday. i was the perfect approach for traders in london and frankfurt, when they were thinking about the game and all that. and sort of thinking about how
1:56 am
it would perform the day after england got eliminated from the tournament in the past. it turns out that, only two times did the cable advanced the next day. it was wednesday loss from germany and romania in 2000. that was a pattern there. england can advance in the euro. it will be happy days for tom. it was really a striking pattern to see the everyday, every time england got eliminated, for the next day. dani: do people actually make a difference here? if england is playing, do they step away from their desk and celebrate, does it make a
1:57 am
difference? >> the most important thing in trading, it is important. dani: thank you for staying on top of this for us. that is bloomberg's fx and rate strategist. i am so thrilled to england one, but i am conflicted, before you i want switzerland to win. yousef: you will have to commit. [laughter] dani: i promise i will. that is it for us on bloomberg daybreak: europe. the european open is next. this is bloomberg. ♪ mberg. ♪
1:58 am
[ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪ so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating and losing weight. go to golo.com and see how golo can change your life. that's golo.com. ♪
1:59 am
2:00 am
anna: good morning. welcome to bloomberg markets the european open. cash trade is lesson in our

25 Views

info Stream Only

Uploaded by TV Archive on