hello. good morning. and welcome to worldwide exchange. these are your headlines from around the world. a global market sell-off. u.s. futures indicating a lower open with european markets in the red. investors contending with a batch of weak data. japanese fourth quarter gdp lower. the bulls and bears are out on apple. further details on the smart watch and the hefty price tag and increasing competition in

the wearable space. and billionaire to hold stocks with snap chat's management about a potential business deal as the start-up eyes fresh funds that could value it at $19 billion. well welcome to the show. two important bits of information for you. we only have a hour today but it is as action-packed as ever. i'm >> that's right. i'm filling in for seema. i have the new music. it's pretty epic. >> i enjoyed it. big markets days. >> absolutely. we have a lot to fit in the hour. it's interesting what you're seeing across the market. we thought they were ready for rate hikes. it's looking tentative at this point. i think we have a chart i want to show. i want to point to emerging market currencies.

i used to sit in singapore and we watched from the front lines there in singapore all the merging markets around us that tamper tantrum when ben bernanke said he was going to tamper off the quantitative easing program. we saw huge reactions in the currencies in time all theguests have been saying that they're better prepared. they put reforms in place. if you take a look what happened to the emerging market currencies like the peso and the lira we've seen the reaction over the last 30 days or so. >> absolutely. and the u.s. collar as you've been saying has been rallying against all currencies. because the data continues to be so impressive and keeping rate rise expectations. that's why i was quite surprised by the settlement u.s. equities on friday. the data it was a better than people were expecting but it wasn't like a blow out. and rate rise expectations were -- and the comments to

congress in june or september. they haven't really changed. i think it's more than just a rate rise expectations. i think it points to the fact we haven't had a major correction in u.s. equities since january. we're six years in the rally. we have to expect them now. >> the markets are coming off record highs in the case of the nasdaq and lot of european markets. today is the day that qe starts and, you know, the markets aren't looking all that great. they have brought up a huge amount since then. let's get a look at u.s. futures. willed from was saying on friday it was an ugly session. take a look how we're expected to open today on the wall street. the s&p and the dow jones slightly lower falling further away from the record highs. a little bit of weakness there. we continue to watch the data. it comes from the report on friday which is raising expectations that perhaps the fed could raise rates earlier rather than later. so let's take a look how it's

playing out in europe as we will show you, it is a weaker session. they've been trading for about an hour so far. this is when qe officially launches in europe. investors have been anticipating it for a long time and they've been pushing up equities a huge amount in the last few months. we're seeing a little bit of a give back here. there remains some uncertainties such as the meeting today. there was some big rhetoric from the greek finance minister over the weekend ratcheting up the pressure on the grip. it's posted to get a list of reforms today. the euro group will decide whether they're good enough. this is the picture we're looking at ftse 100. coming off some very, very, very loftily levels. >> relatively strong week relative to u.s. equities hence right across the border selling off today. let's look at bond markets. we had interesting moves particularly in the u.s. on friday.

yields ticked up. we saw equity prices comet down and bond prices coming down highlighting that reaction on friday was to rate rise expectations as opposed to the fundamental data. the ten year in the u.s. 2.2%. we flirted back down to 1.9% a few weeks ago. and those moves were short lived. as we were saying a the top of the u.s. coming forward rather than backwards which is the opposite of the case in the u.k. where expectations are yield about 1.92%. they're now, of course quantitative easing kicks off today in europe. the german ten year. greece on the other side of that trade remains elevated. let's look at the u.s. dollar the broader index has been rallied to fresh 11 year highs. the strong usda draft pushing it up. the euro has been the most marked on the other side.

it's bouncing back today. it's up a half percent. on january 22nd we touched the 114 handle -- sorry february 22nd. and only taken a few weeks to get below not just 111 which was an important barrier and now 110 and 109. we're 108.9 and the euro dollar has been sliding significantly all though bouncing back as you can see today. a quick look at the oil price the commodity has been soft. wti below 50 at at 49.8. but also pointing out the gold price around three month lows 1173 it's bouncing back a little bit today. back to you. let's also take a look at the session in asia and it was an ugly one as well. we have it negatively from wall street. the nikkei down 180 points on the session. growth was revised down on the back of disappointing numbers. it's worrying signs of the virtuous cycle we heard of that

was supposed to be abenomics yet to come to fruition. up nearly 2 percent on the back of disappointing data. why did the markets srise? banking stocks surging because the securities regulators said it's considering licenses to banks. that would be a big source of revenue for the banks. that's how we're looking. it was a negative session but we ended mixed because of the news out of china. >> let's give you a run down what to watch in the trading day in u.s. there's no economic data today. look out for reports on retail sales and ppi. results after the bell while mcdonalds reports february sales before the open. let's take a look at the other top stories today. we're on apple watch. the fever is building.

apple holds an event in san francisco today where it is expected to unveil details about the smart watch which goes on sale next month. it includes pricing, the base model starts at $349 but analysts think that higher end versions including the gold watch could go for more than $8,000 or more. somewhere around 8,000 pounds. it's going to be an expensive one. how consumers can upgrade the device. take a look at apple shares. we know it's been on the roll over the last decade but currently at $117.45 up about a third of 1% in the last session. so much to talk about when it comes to apple. the event today and the stock on the roll. we have it included in the dow jones industrial average. >> and the event today is exciting. the apple watch itself i don't think will be a game-changer. but many of the announcements with apple. they put thought and expertise

in there. i was interested in knowing where it was calmed the apple watch or iwatch. will it drive iphone sales as well as watch sales? will there, any other secret announcements today? people are saying there might be a brand new macbook or something else. >> one more thing. but you don't think it's going to be a game-changer. i don't know i remember getting my first ipod and how incredible that was. you knew right away. that's what i'm interested in. i think once you have the watch you can feel, look, and use it. you'll know whether it's going to be the game-changer. but the charging. that's my biggest question. if you have to charge it every night, is that going to be very useful? i use my fit bit and it tracks my sleep. that's one of the best things i like about it. >> it's going to be important to watch. all the details coming out of san francisco tonight. and on that topic, we want to hear from you on this. are you apple? is it going to be a game-changer

or could sales fall flat? join the conversation here on "worldwide exchange." get in touch with us. our personal handles are on the screen. moving on saudi prince has met with snapchat's senior manager including the ceo. a statement from the prince's investment company said they discussed a potential business corporation. the talk comes snapchat is looking to raise new funds at $19 billion. the prince invested in several tech brands including twitter and chinese e commerce site. 2015 has been a record breaking year for european equity issue yans. europe lead global activity for the first time since 2005. joining us more. is it going to be another bumper

year? >> well, it's all about the life blood of the u.k. economy, and a lot that have is driven not just in employment but growth and contributions by small or medium-sized businesses. this event behind me is about making sure those companies which are starting up at record rates lately make that leap to the next stage. i spoke to the london stock exchange chief executive and asked him how that propg was going. and also what are the main differences between the environment here in the u.k. compared to the one in the u.s.? >> i think what is happening in the u.k. here is very important. traditionally europe -- rather heavily. still to the tune of about 80% and bank lending can be a powerful means of accelerating velocity of creating new wealth

but overreliance on bank debt is not the solution. in the united states only 18% of corporate funding relies on bank lending. what is happening in the u.k. is a diversification of the funding ecosystem. to introduce new elements such as equity for example, which is the right type of funding for start-ups to compliment if you want the traditional tools like bank lending to accelerate the growth. >> and last year when this project was launched you railed against the fact that sme were still using credit cards to grow. apart from access to funding and this diversified community of money they could get, what are the other conditions? are things like energy prices a dividing line between success in the u.s. and that here at home? >> yes, there was definitely a big advantage in the united states. it's the advantage of prices up until recently only about a third of what they were here in europe. i think the recent development

in the market at least partially fix that competitive disadvantage, but the one area where the u.k. stands almost supreme is innovation. particularly in the area of technology. many world class anyone elevations ss -- innovations coming out of academia came here in the u.k. there's a host of engineering or software types of innovation that are giving the u.k. a unique opportunity to create the new jobs. the two million jobs that have been created in the private sector in the last couple of years essentially come from the sector. >> lots on the ground here today about the inflow of capital coming from overseas to invest in the u.k. it's not all we've been doing this morning. we've been venn dhurture tureture

-- venturing out to talk to european banks. in is the bank that emerged out of bankers santo. we'll have more on that interview in a short while. >> thank you very much for that. and we look forward to the interview. coming up on "worldwide exchange." general motors set to pay out $8 billion. find out which activist could be joining us. saudi's prince is on a deal with snapchat. could it push the $19 million evaluation even higher? we'll discuss later in the show.

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welcome back. europe's banks need to cut costs by a fifth and grow revenues by 15%. this is according to a new study. the report says european lenders return on equity set to average less than half their costs of capital again this year. they said 69% of european survey respondent ends were considering restructuring options. portugal's banker posted a loss of 468 million euros in the second half of the year. the lender was rescued from -- nearly 27 billion euros.

>> reporter: i was talking to earlier about this bank being really at the epicenter of the european banking crisis. it's almost collapsed at the end of last year with major news brought about great scandal in portugal. these are the major results. the numbers don't look pretty as you said. a loss of $468 million and impairments that run to 700 million pounds. but the capital position improved. i asked those questions and what the outlook was like to the bank and the portuguese economy to the chief executive. have a listen in. >> which we may have some problems, as you know the bank had some real projects that were not in the best shape, and so we have been very keen in doing the right provisioning. doing the right provisional levels we needed to do in that

specific model. i can tell you that concerning the other -- the projects with the export companies. it's much better than the legacy portfolio in the projects related with the real estate or driven by real estate projects. >> and let's talk about the flight of capital. when you first talk about the bank hemorrhaged about 11 billion euros in terms of capital and deposit. has there been any improvement? >> very significant improvement from the moment the bank -- we recovered more than 2 billion euro deposits. if you look at the situation since the end of september we recovered more than 4 billion. so that has also given us the opportunity to improve

significantly our long-term deposit duration. and end of the year 26 and i can tell you january and february we did improve the ratio further and we gotten very close to the 20%. which is good. >> what do you make from the risks of places like greece and the problems they've been having. is this going to affect you in the next year? >> we don't think it will effect us. it's healthy. you can see that by the yields and the 10-year yield of the portugal government. significantly below 2%. we don't have any -- so we don't think that we'll be impacted directly or indirectly. >> a lot of ice on him. he's the mr. fix-it that is supposed to clean up the bank so

it essentially gets sold. it's an auction process at the moments. about fifteen buyers looking to buy the company. impairments today of 700 million euros, but a stronger capital position that hopefully will ease the way to some of that money returning back to the resolution fund in portugal. >> absolutely. we'll be watching closely. still to come on the show the race for electric vehicles and new smartphones has driven a surge and demand for lithium. we'll speak to the ceo up next. and futures as we head to break reporting to a negative open after strong declines on friday. back in a couple of minutes.

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the countdown is underway for apple's big event later today. they're expected to unveil details of the new smart watch. fierce competition in the smartphone and wearables field is one factor helping to drive demand for lithium-ion batteries. the world's lightest metal is used for everyday products including glasses, ceramics and pharmaceuticals. it's one firm taking long-term

bet. they struck a deal to industrialize lithium in bolivia. i'm delighted to say we're joined by alejandro garcia. good morning. thank you very much for joining us. let's talk about lithium, quickly, first, and move on to other parts of the business. despite the global commodity sell-off lithium prices are holding up. >> essentially a commodity in contrast we know it's the trends of oil. lithium the price has been stable and actually going up due to that huge demand that existed. >> and the demand mainly coming for batteries, is that right? >> definitely the industry of the battery, the industry of the energy is the one that is driving that exploit nowadays. >> and do you forecast there to be a big growth in battery-powered cars. is that one of the reasons you're positions yourself in the lithium market? >> definitely the demand on the battery for the cars has driven

it. we in our case are looking at 0 long-term development. not only lithium is the only topic. today the more sexy topic to attract the investors and development but looking also at other -- so there is a vast industries that will be serviced out of that. >> right now as you mentioned a major use for electric cars. but it feels like we've been waiting for song so long for electric cars to become popular main stream. what will it take to have electric cars come main stream. is that one of the risks you look out for because it may not happen because for political or other reasons. >> i think there are several factors. how the technology and, you know, the industry of the car we're looking at able to come out with the long range that will take us beyond 150 or 300 kilometers.

i think technology is one. in this case that is what we're working to establish a sustainable supply. >> let's move on to talk about the other main part of your business. quinoa. it's becoming trendy to eat it all over the world now. >> yeah. actually the quinoa right now one of the main parts of our business. quinoa has been increasing the demand. today there is one of the main commodities. >> what makes you convinced it's not just a fad? the demand for quinoa in the western world? >> as a matter of fact the modesty --tic we are able and that's what we're trying to do with the challenge is trying to stabilize it the supply and demand. trying to establish use of monetary and traceability. trying to get away from just a

simple exportation and getting to the fair commercezation. that's what will get us to the long-term sustainable business. >> thank you very much for joining us. it was alejandro garcia. and still to come on the show. today is the day for apple's spring forward event. where tim cook is likely to pitch the new apple watch. we'll be discussing. that's up next. >> let's have a look at u.s. futures before we go to break. we're expecting a negative open for the s&p and the dow with the nasdaq bouncing back slightly after they declined more than 1% on friday.

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welcome to worldwide"worldwide exchange" exchange". >> these are your headlines from around the world. it's a global market sell-off. u.s. futures indicating a lower european markets in the red. after fears that the fed will hike rates sooner rather than later. chinese imports slide outweighing a surge in exports japanese fourth quarter gdp is revised lower. the bulls and bears on apple. the details on the smart watch and the hefty price tag and the competition. and the prince alwaleed holds talks with snap chats about a business deal. it could value it at $19

billion. if you are just tuning in. thank you very much for joining us on "worldwide exchange." let's have a look at what u.s. futures are doing ahead of the market open. a big sell-off on friday following a strong nonpayrolls printer which increased expectations that rates go up sooner rather than later. all tree were off more than 1%. the dow off more than 1.5. we're expecting the nasdaq to bounce back slightly by two points a day. the s&p and dow expected to open lower still. let's have a look at european market they too, are in the red following a mixed trading session in asia. as you look at things in at the moment, the ftse 100 is lacking. france is down a similar amount. germany is down just 1.4%. this is the day when bond buying in europe does start. we're not doing enough

obviously, for european equity markets. it was a strong week last week relative to u.s. ekquityequities. let's have a look at the euro dollar chart. we've seen extraordinary reaction over the last couple of weeks. february 22nd we heard 114. we're now at 108.72. yes the broader dollar index has been strong. it's been the euro in particular that has been very weak. 108.71. we're back up a quarter of a percent today but a big sell-off, as you can see, over the back ends of last week. indeed over the last month as a whole. back to you. >> and we've been talking about loss today. the day of apple's spring forward event in san francisco. ceo tim cook is taking a bet on wearable text with the launch of the new apple watch. morgan stanley estimates apple could sells a many as 30 million with some analysts speculating it could be the catalyst that

push the tech tie tan's share price to $1 trillion or market cap to $1 trillion. after this -- all of this after apple announcing it's moving home from the nasdaq to the dow on march 18th. you're by the wall because you have more on this. >> absolutely. as we saw the announcement. apple would reat&t on the index. some thinks it makes the dow more hip. it's the first tech firm to be list there had. historically there have been a few at relations on the dow that lead to stock price moves. in 2013 helpp replace inging virgin. in the one that would be happening in about a week's time is at&t replaced by apple. now looking at the performance to each of the stocks since they did exit the dow. they've done pretty well. as you can see alcoa a massive

75%. hewlett-packard up and citigroup up. what does it mean for apple itself as it joins the dow? we're joined by daniel gleason a mobile analyst. we're discussing the smart watch with him. does it change the outlook for apple's stock price? >> it doesn't in particular. real listically the most important thing for apple is the new product announcements is continued momentum with iphone and trying to drive more volume in the laptop business as well. those are going to be, you know the key drivers of the performance. >> let's talk about, of course today's big meeting. the smart watch release. is that going to be a game-changer? >> i think it could be for apple. apple, at the moment is at this point where even though iphone sales hit record numbers in the

past smartphone penetration and many western markets is really plat dougheau plateauing. it's already hitting over 90% in some markets. there may not be huge growth in the market particularly at high end where apple is. it's looking for that next market. that next niche to grow its business further. i believe it found that with smart watches. >> is it possible for the apple watch to be that niche? as you say a niche for apple can be very small. even if they sell as well as some analysts expect that would only amount to 3% of apple's total revenue. that would be sales of $6.1 billion. how is it going to move the needle? >> i think the key things for apple is a. not just the revenue. but b. the most important thing is profitability. it only entered high profitability margin up. oil a lot of competitors are

rolling out android smart watches that would be important. more importantly, it's speaking to build and tie people into a strong apple ecosystem. particularly with the likely expansion of apple to europe which could be announced this evening as well. you'll get people that are very firmly tied into apple with not just with the watch but they'll have their phone, their iphone and possibly even their laptop as well. i think that's been the big thing for a lot of apples recent announcement. trying to tie in the ecosystem much tighter together and increase the loyalty of their customers. >> an, daniel a wider question. how is apple evolving as a country. why is it called the apple watch instead of the iwatch. maybe they want it to be sophisticated. not only a tech driven product. there's some speculation how they're going it market the watch. they had the 12-page spread in vogue. they may revamp stores.

do you think we're seeing that changing apple here? >> yes, i think apple is i don't want to say ditching the i from the iphone and imac. i think it moves away from being seen as a technology company. and that really is what the i kind of implies in many of these cases. so apple wants to be seen as a fashion company. i think that's what a lot of people are pushing. but also, moving away from simply i gives apple a wider range in the terms of amount of device it is can attract or the markets it can attack. it means the naming scheme is freed up and it can do a lot more things within that. i think you've seen apple rumors that apple will be looking at -- and obviously because, you know, everybody jokingly says icare. apples wants to have a wider branding ability. and they want to hammer home

apple as a quality name across a wide variety of things. i think apple is in transition within the brand moving more toward being a fashion, high end brand more than just being a technology company. >> okay. daniel, thank you very much for that. daniel gleason mobile analyst at ihs. a good timing to move from the nasdaq to the dow. i'm we want to hear from you on this. are you an apple bull or bear? will sales fall flat? tim said the apple watch will be huge for the brand and the stock. if you want to join the conversation here e-mail us or via twitter. we also have to work on this somebody said even you would buy it. i don't know what it means? are you fashionable? >> that i'm opposite of fashion. but i have said in the show in the past i wasn't particularly interested in getting a watch. i think a watch is more of a fashion item than a practical item, which of course a or ipod

was. having said that i'm sure we'll see the details. i'm usually a sucker for the latest tech. >> i don't like wearing watches but fitbit changed my mind. if we have time okay i'll save it until later. they're telling me i can't. it's about the music and the show. i'll tell you a little bit later. >> brilliant. keep getting in touch with us. about 20 minutes left of "worldwide exchange." moving on saudi prince alwaleed has met with snap chat's senior management. kingdom holding said they discussed a potential business corporation. the talks come as snapchat looking to raise new funds. prince alwaleed invested in several tech brands including twitter and jd.com. and let's take a look at today's other top stories. most business economists expect the fed to raise rates in the second half of the year.

71% of respondent expect a rate hike sometime this year. the feds' approach is about right. the survey was naeb survey was taken before janet yellen's testimony. maybe the latest data points may change that picture. >> absolutely. i think the data has been very positive. an janet yellen's testimony was taken to dubbish. now we're back quickly and it's responding more to data than rhetoric. greece's finance minister warned the country could call a referendum if the creditors reject the debt plan. it comes as jones finance ministers prepare to meet in brussels to hear at then'hens' latest. let's get live to julia. >> reporter: thank you so much. as you said. greece take center stage and

we're not expecting to reach any conclusions or decisions today. you're not watching a recording. i'm live. we're going to be debating the latest proposals from greece not a complete list. it's just part of the broader negotiations as far as these reform proposals are concerned. if you look at the details of them, you can clearly get a sense they are going to things they can implement quickly. we now they have a financing situation. a immediate financing situation. they want to do things they can implement quickly to get the cash. the message is look we want to see not only a complete plan as far as reforms are concerned but, of course the imf, the ecb got to sign up on these. then they want implementation and then and only then give greece the cash. you can question some of the skepticism that we've seen about some of these reforms. my particular flavor is the unofficial tax agents right now. tourists and students that will go undercover to try to capture those that are evading the at in

particular. guy guys i don't know about you anyone fancy a paid holiday to greece this summer there's a job opening out there. i can think of worse jobs. back to you. >> thank you very much for that. still to come on "worldwide exchange." commerce in the cloud.

welcome back everyone. take a look at gm shares over the last 12 months. they haven't really done a whole lot. this is why. we're going to be watching shares when markets open in the u.s. today very carefully. over the weekend, cnbc has been able to confirm reports that the gm is likely to disclose plans to return billions of dollars to shareholders. this is a move expected to avoid a potential proxy fight with activists investor harry j. wilson. he's previously proposed a buy back plan of $8 billion and he want a seat on the board. we're hearing reports that wall street that gm is going to return money back to shareholders. it will be less than $8 billion that wilson has been proposed. in february wilson criticized the stock price. as you can see lower over the last year. criticized the cash management

as well as operating performance. someone who is not a fan of these plans is warren buffet. he come out and suggested that wilson's pay arrangement creates a short term incentive. wilson has a compensation agreement with hedge funds that are backing him related to the possible service on gm's board. he could receive 2 to 4% of upside of their gm shares over three years. wilson, said he's willing to lock up payments in gvm stocks if an extended period of time. it's an interesting story. gm said it's responsible to all the investors. not just one. but in this case it looks like it might have bowed to pressure. >> absolutely. thank you for that. switch focus and talk about the windy city. it's long been a culture landmark and a main tourist attraction in chicago and now one of the world's recognizable buildings could be coming to new management. let's ged to landon dowdy.

>> good morning to you. black stone is reportedly in advanced talks to buy the former sears tower for about $1.5 billion. it's the highest price paid for a building in chicago the 110-story building is the second tallest in the u.s. after one world trade center in new york. and last changed hands in 2004 when met life sold it to a group of privacy investors for $840 million. willis group bought three floors and bought the naming rights. trying to sell in 2011 but couldn't get the right price at the time. still reeling from the financial crisis. they are willing to make big loans. they lured new tenants. it reopened in 2009 with a set of glass boxes that let visitors look straight down from the top.

it shows how the market for high price property has improved with an influx of money from northern and domestic buyers. they have been more common now. last month black stone sold the waldorf-astoria for nearly $2 billion. black stone has largely stayed away from investing in office buildings in the past several years and said big portfolios of single family homes, and retail space. it has cash to spend. the company raised a record $13 billion for the last real estate fund and seeking as much as $15 billion for the latest. >> landon thank you very much. before we go to break. good news means bad news once again. a solid drop weighs on global markets amid fears the fed could move sooner than expected. the count down is underway for the apple watch event later today, and cnbc confirms gm is set to return billions to

shareholders. we'll be back in a couple of minutes.

welcome back. opec secretary general said that the cartel should not cut output to subsidize higher cost shale. speak at the a conference he said the shale market was, quote, not a challenge for us. he added the market should decide which source of petroleum could survive at current oil prices. u.s. crude dropped as low as 40ed barrel. global crude as a result would rise. a quick look at the oil price today. we have wti just below 59. it's at 58.93. brent at 58.93 wti at 49.4.

both off today. now a run down what to watch this trading day in the u.s. no economic data today. look for reports later this week on retail sales and ppi. urban outfitters reports results after the closing bell while mcdonalds reports before the open. and happy birthday to the u.s. bull market. it was six years ago today occur the darkest days of the financial crisis that cnbc's mark hans called the bottom. >> however, i'm going to step out on a limb here. >> this is the big -- hold on. >> i think we're in a bottom. i really do. >> you prepared to do that today? >> i don't know. let's get through the week. >> yeah. >> since 2009 the market has tripled in value and now the fourth longest and fifth best bull markets ever. the current bull joins three others since world war ii that lasted this long but only two of

the three made it to the seventh birthday. michael, you're a better person to pose that question to. i put wolf on the spot there. we can't be making those kinds of predictions. what do you think? has the bull market run out of steam? especially look at the trading days. we were supposed to be ready for rising interest rates but we've seen the markets stumble >>well you know, that's a good point. i think right now, at least, what the markets love to do is anticipate rate hikes. one of the things that is the normal course is a knee jerk reaction which is why i would not be surprised to see the s&p test at 2062 which is the 50 day moving average and potentially 20346 which is 100. i'm more in line in seeing fed pushed down further. but by no means this summer like the market is anticipating. which means buy those dips.

let the market come up a little bit further. i wouldn't be surprised if we go see 2100 exceeded in the s&p. near term still bullish. very short term. would not be surprised to see the sell-off. >> so, michael, do you think the bond market move in the last couple of weeks is wrong. we have gone from 1.9 to 22.2 pretty quickly. >> that's my point. that's the epicenter of where you'll see a move. it used to be in the euro dollars in the short term contracts, but, you know, when the yield curves at 1% or less up there, that's when you have to go down to the 10s. i think it's warranted from 190. i think you're going nestle in more as you see rates come off a little bit and subside off a further implementing fed by the end year. to see 150 year above 10% is going to be the new norm. i think the calls between 2 and

2.5 over the next two, three, fourth quarter. >> how is the rest of the world going to react to rising rates. emerging markets. you're seeing tamper tantrum 2.07 over the last few weeks with emerging currencies taking on the against the u.s. dollars. is that a case of dollar strength or rising rates? >> well, actually i think it is rising rates to start with. the fact is this, the last time we saw rising rates especially against rising markets the dollar had not started the head wind of being as strong today. that's one of the reasons i see the fed implement later but it's a tone we'll see into the summer. >> thank you for joining us. that's all we've got time for today on "worldwide exchange." next up "squawk box" u.s.

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e the wraps off the new watch today. steering away from a fight breaking overnight. general motors plans to announce the share buy back. the move should avert a showdown with a well-known shareholder and squawk guest. plus a call on crude. goldman sachs predicts prices will reverse. now seeing wti dropping as far as $40 a barrel in the near term. they no longer$200. march 9th 2015 "squawk box"

begins right now. good morning everybody. walk to "squawk box" on cnbc. andrew is on assignment. also with us this morning we have mike senior columnist at yahoo! finance. a lot of markets to talk. today mark six years since the 2009 market bottom. >> i did know that. friday, march 6th was the fiction sixth anniversary. since then the dow has risen nearly 370%. the s&p added more than 206%. and the nasdaq gained more than 288%. also, on the radar this morning two swiss aviation pioneers begun what could be the first around the world trip in a solar