good morning, everybody. welcome to street signs. these are your head lines. isis is suspected after three suicide bombers attacked turkey's biggest airports leaving 36 dead and many more wounded. travel stocks sell off on the news. >> the global rally extending into a second day with banks leading the charge as investors come to terms with the brexit reality. >> closing the door now on david cameron. brussels holding firm that out means out.

the ecu vice president tells nbc exclusivelily that banks were over sold in wake of brexit, but that's not a lehman moment. >> the banks have not changed from one day to the other just like that so we have to wait and see and then adjust to the situation that in the end might be fine. all right. let's get straight to our top story this morning, the turkish prime minister has blamed the islamic state that killed 36 people and injured many more. nbc bill neely filed in report. >> it's minutes after the bombs exploded. scores are dead and injured and there's panic. . hundreds of passengers and their families are fleeing the main

airport in istanbul. turkish officials say at least three suicide bombers blew themselves up at the arrivals area in the main terminal. >> this happened in the arrivals area. >> why. >> did you hear an explosion? >> it was a lot of, you know, gun. >> they opened fire first with automatic weapons. police returned fire, but it didn't stop the terrorists. this cc thrks v footage on a computer appears to show the moment of one of the explosions. this was a coordinated as well as a deadly assault on the third busiest airport in europe. it was crowded as the terrorists struck. they reached a security check point, but didn't get inside the main hall. another video appears to show one of the gunman getting shot. falling and then detonating his explosives. as balances as arrived to cover

the wondered, taxi drivers leaving the terminal shouted don't enter, a bomb had exploded. it's not the first time the istanbul airports have been atta attacked. falling on isis and kurdish. turkey and istanbul braced for more and angry. bill neely, nbc news, london. >> just looking at the implications on the market from that attack. travel stocks in this morning trade are been low. the likes of iag not managing to be in positive territory. speaking of which the european markets in general though are putting on gains on the back of the very large drops we're seeing friday and yesterday we saw a little leveling out to some extent although there still was negative activity in t--

negativetivi negativivity in the markets. like the banks for an example hired by two and a half percent. you would have noted uk banks opened in territory. oil and gas up by two and a quarter percent. everything is trading higher. auto being the weaker of the bunch, but just managing to cling on with some slight gangs. we may have settled a little bit for the time being not gaining back what was lost, but settling or feeling a period of calm, but of course we're just starting this very long process of negotiation from a political angle and european leaders, excluding david cameron, have arrived for a second day of talks in brussels. the uk minister told the summit yesterday that it will agreement movement of people was decisive

factor in last week's vote to leave, but he pledged britain would not turn its back on the continents. >> i threw myself in head, heart and sole to keep britain in the european union. and i didn't succeed. you fight and when you win you carry out your program and when you lose, sometimes you have to say, all right, i've lot that argument, i've lot that debate it was right to hand over to someone else to take the country forward. of course i'm sad about that, but i'm more concerned about britain getting its relationship right with europe. that is a far bigger thing than whether i'm prime minister for six years or seven. >> now meanwhile europe's leaders areal ur lal urging the get a move on. >> all those are telling us we need some time. i thought that if you want to leave you have a plan, a project, you have a global picture.

they don't have it, but i hope that the notification by the next british government will arrive as soon as possible. >> well, nancy in brussels today. good to see you again. talks just starting, really, just in the infancy of what we have ahead. what's going to happen today? >> well, lisignificant to know members meeting just behind me. as you heard yesterday, a lot of regret and sadness expressed at david cameron's last eu leaders meeting here, but they are saying it's time to move on. they want to move on as swiftly as possible. today they're talking about the next stages of negotiations once that article 50 clause is invoked by uk. they made it clear the ball is

in the uk's court when it comes to initiating the separation process here. what kind of free movement of people restrictions and measures they will have to give to the uk in return. that's all up for discussion. it's also worth noting that the devastating news about the turkish blast hit just as the informal dinner was taking place last night with david cameron. we're not shuf whether or not the leaders found out about it after they left here, but it's important it brings up a reminder of how fragile is security situation is here. a challenge they were facing before the eu referendum vote. meeting with leaders discussing the post referendum implications because remember nato had been encouraging the eu to step up collaboration and corroboration

when it comes to military efforts. i had the chance to speak to the nato secretary general and i asked him specifically about concerns of economic impacts following the referendum and what that meant for eu lerds to push forward defense spending. >> defense spending is important and the unite kingdom has been a lead nation because they invest gdp in defense. we have some encouraging signs from several oerl european nato allies. last year we saw the first increase in defense spending across europe after many years of decline and estimates for this year indicates even further increase. a long way to go, but now we are moving in the right direction and i expect united kingdom to continue to invest more than 2% on defense and i expect other

allies to increase defense spending and we are seeing some very positive signs. >> that was yen stolen berg the nay to secretary there. he also stressed they remain the same. continue the to be a strong partner in the nato alliance. a lot of change underway, but leaders are sure to say some things will stay the same. nevertheless, we can imagine that leaders meeting here today will be looking at the devastation coming out of turkey and how to address this coming forward. that is the situation here at the eu counsel. i should mention later on during the day just down the road from me. you know that nicholas sturgen. potentially block the referendum results. others have called that into

question. nevertheless watch for don mattinglys the-- developments there. it was reported yesterday she will not be talking to eu president. that is significant. if there were to be any special arrangement awarded, tusk would need to sign off on that as well. that's the picture here in brussels. >> nancy, good to see you. thank you very much. just giving us the political angle of what's going on in the wake of brexit. multiasset ema at columbia thread needle. how am i supposed to be looking at the rebound for a moment. >> best thing to do keep it all in bigger context. we set out a variety of scenario before the referendum. we had pretty wide confident intervals around that. we had pretty wide margin of

error. what's happening is most assets have moved into those ranges of where we expected them to be in the post leave vote. specifically on the currency side. stunned still the central expectation we had is 134 and can't believe we're still around 1.34. there has been a rebound, but we're basically in the ranges we were looking for before the event. we're not getting too excited about trying to trade every half day or days move on this side. >> do you think looking a the the banking stocks this morning they're back up by two and a half, 3% or something like that. granted things can change and who knows where we end, but do you think some of the sectors that sold off so much on friday, are they going to gain back to the levels we were at even through this political wrangling and negotiation period that's going to take place for the next weeks, months, maybe years.

>> on the banking siel ining si broad allocation point would say that if you got back to the same as the prebrexit as now, that would be in sterling terms. for an international investor, can you get back to that prebrexit valuation any time soon, i would be quite surprised if we got back to international valuations any time soon. that would prompt quite a lot of action, but it's very hard to think about trading these things on a day-by-day basis. we're trying to invest. >> i'm going to be speaking to a market psychologist or an author who has written about market psychology. one of the things he points out. again, many people have said in the past is oftentimes doing nothing can be better than the inand out trades.

are there any big switches though that you are doing that you are thinking about given the result of the votes. >> we've done some meaningful moves to be honest hads of the referendum and since the referendum. going into the referendum a return fund. i really wanted to have nol big position. i didn't want to bet my client's money on the outcome of a popular vote. so put in a variety of position to try to neutralize things. what's happened since that time is we moved from preto post referendum. rebound that we've seen that we moved from an unknown set of environments to another set. with a big shock valuation in between. >> i saw a quote earlier.

the only certainty in europe is uncertainty. >> profound levels of uncertainty. we've sat down again going through the work we did before the referendum thinking about the economic impact. yesterday we recertified our expectations for uk growth, which is a reduction this year and next. reduced or european growth expectations. although the hit to europe is not as big as many have been talking about. >> thank you so much for coming in to talk to us this morning. head of multiasset. as identify been tweeting this morning, get involved, get your questions through. you can also find us on street sign europe. twitter we are there as well. either @street sign. you can tweet me directly as well. coming up on the program, the ecb vice president tells nbc in

an exclusive interview, brexit is not another lehman moment. >> everyone will understand that is very important to maintain and reinforce and deepen the monetary union in order to ensure the stability of our countries.

>> welcome back. you're watching street signs. the ecb board member has told cnbc that brexit is not a lehman moment and he's focused on maintaining stability and deepening europe's monetary union. in portugal has been speaking to him. some interesting comments that he was making during your interview. what would you say was the main

messa message. >> good morning. i would say the first point as you quite rightly said, unlike what alan green span said last week, i think the other point to make is he believes markets have overshot as a result of that vote. listen in to how he described in detail what he thinks is going on here. >> terms of market developments, i think indeed to comparison does not apply because the reaction to lehman as you may recall was that several markets froze. seized to work. no information, no buyers and sellers and the big impact all over the world. that was not the case this time. that's one point. very important difference, of course. and the second is that the negative effects on prices in markets were more extended in

the case of lehman that indeed triggered a major international crisis. so the reaction of the market so far do not justify the comparison. and indeed, i'm sure that i am objective in saying that many market observers and analysts were expecting worse in such an outcome. >> my immediate comeback here was hang on a second, let's look at the shared price performance of some of the european banks since the session began on friday. 15 percent drop for deutsche bank, credit suit 20%. doesn't that suggest a fundamental concern about the european banking sector. listen in. >> that's indeed the weak point where the impact on the euro

area was more severe and very significant, as you say. no doubt. for the rest, even the founding and the liquidity of banks, no problem, but stock prices went down, which is a reflection, as you say, of sudden lack of confidence in the banks. the idea is i suppose in the minds of the investors says this can perhaps revoke a recession. which i don't believe. as a result the banks would suffer and so on. nevertheless, there was a rebound today. the bank stock prices went up around 3%. we will see -- now we have to see where the markets will stabilize. they overshot.

now they're rebound. we have to wait a few days to see where this goes, but there is indeed the that situation of negative depreciation by the market. >> i want to ask you a final question and we'll move on. >> yes. >> i think a lot of investors are looking at italy now as being the next domino to fall and concerns about the italian banking sector. can we draw a line and say there's no further discussion going on about 40 billion-year-old bailout deal. i read this morning. not quite sure how that was going to be financed. >> as i said about market developments, we'll have to wait a few days to see where they go. maybe the rebound will continue because the fundamentals have not changed in a big way and as i just mentioned, the economic

consequences are for the euro area much reduced. just think for instance that the export of the euro area to the uk represent three or four percent of gdp. so even if some investment banks have produced recently to the uk saying that the uk will have this and the next perhaps a recession between minus two and minus three. if they're to materialize with the trade links, they're toll imply just 0.1% drop. of course the transmission is not only through trade. there are aspects of confidence, investment decisions, all that other channels, but just illustrates the fundamentals of banks have not changed, you know, from one day to the other just like that. so we have to wait and see, and

then adjust to the situation that in the end might prevail. >> so he gave some kind of pricing there of the exact of the hit on trade between the breakdown there between the skpuk the eu. as he quite rightly pointed out, what about investment, confidence, the impact that's going to have. at this precise moment, we don't know how this relationship is going to be addressed. ho the divorce process is going to be tackled, if at all. it's tough to engage. some element of complacent feeling into the market because everyone is backing from any kind of divorce plan. on that point i'll hand back to you before i get blown away. this i have to say i think i'm winning some kind of award. >> looks pretty nice from here, julia. stay grounded and we'll see you

back again with a guest in around a half an hour's time. maybe we should tie you to strings or something. anyway, thank you very much. from the japanese adviser to the prime minister is basically saying the japanese government won't be hesitating to respond to speculation in the foreign exchange market. we've heard things like this over the past couple of weeks, but the japanese prime minister adviser saying they shouldn't be rules out solo in case of excess rises in the yen. they stand ready. they should stand ready to hold emergency policy meetings if the market moves and they become to accessive. that's coming through via righters. >> will on friday and monday especially the europe stock 600

bank has an index higher at the moment of 2.5%. off by 15%. senior analyst. good morning. >> good morning. >> the drops that we saw on friday, especially. friday and monday, like barclays opening down 30%. some of that selling continuing on monday. was it just the five to sta extent. >> yes, it was because the market started questioning the brexit in addition to a brexit. it seems following the discussions in brussels, the scenario could be a plain brexit with some compromise the longer senior market access for the uk. >> we don't necessarily think that any banks are going to go under. we're not looking at a lehman moment. so if we think it's just about

negotiations taking place over the course of the next couple of weeks or months or whatever the time frame is, to have a third wiped out of your value in a session for these banks, is it justified or does brexit really cause something like this or is it because people are worrying about the health of the banks in themselves again. >> i would say both. both uncertainty and concerns about the bang balance sheets. the impacts t s typically when look at back, here, uk banks the value is politics. in terms of short term impact, we're looking at additional stress in the market. the lack of financial maneuver to raise some equity and also the incapacity to tap the new

markets with additional. longer term you're looking at deteruation of asset quality, especially for the uk world. you're looking at a version of your profitability margins. especially if the bank of england ends up cutting rates later this year. and lastly the whole of the bank business models in the way they operated throughout europe. >> so how is that going to change. >> i think we're going to move from where london has been ahead so far for the last three decades to a more network where you can continue as a concern even if you lose the availability of one of the note of these network. that's what we're seeing when talking to bank managements that they are definitely looking at plans in order to reform their

business model along those lines. >> how concerned about you are italy and the potential 40 billion euros needed there. >> in italy for the time being is fairly stable political environment. until we get a referendum also in october. there is a lot of reforms, a lot of changes to the banking sector that have been implemented and that's beneficial. so we hope that's for the referendum coming in october that we go through and the 40 billion bail out plan being discussed this weekend is something to ensure italian citizens. >> thank you so much. senior analyst at exyum alternative investments. >> we need to head to a short break.

while we're in that break, check out world markets live. it's a blog. a lot of good stuff on there. you can find us on e-mail still or on twitter. i'll see you in a jiffy.

>> hi everybody. i'm louisa bojesen and your headlines this morning, isis is suspected after three suicide bombers attacked turkeys biggest airport. travel stock sell off on the news. the global rally though, overall extending into the second day with banks leading the charge. they've seem to come to terms with the brexit reality. european leaders closing the door on david cameron. holding firm that out means out. and the ecb vice president telling cnbc exclusively that

bank were oversold in the wake of brexit, but it's not a lehman moment. >> fundamentals of banks have not changed. you know, from one day to the other just like that so we have to wait and see and then adjust to the situation that in the end may prevail. >> eduardo: -- . >> when looking at the market impact, we are seeing iag off by just over 3%. and unfortunately this has become more common of late to see these types of attacks. when moving away from that and when moving over to what otherwise has been taken place on the european markets and across that asset class, the euro dollar currently around

$111 $1.10 at the moment. we've held steady since that rebound scene on friday. we've held steady at $1.10 since then. the pound is back at $1.33 as well. it's been surprising how steady the pound has been holding on over the last sessions or so. rebounding by 1.5% after the 15 drop on thursday's session, but, again, right around $1.33, $1.34. the dollar against the leer off by right-hand side of your screen. now as banks continue today just last week's brexit vote the i ing cfo told us how he reacted to the vote. >> it's a shock. the question is how long will it

last. extends a couple of days as it appears to be. the real momentum i don't think changes. we have positive commercial momentum. we're growing customers. we're pursuing a digital strategy. i don't think that's going to stop with four, five percent lending growth last year. i think we can continue pushing through this. i think it's important to get this thing settled soon. get some clarity on what the british government wants to do and how they want to take it forward. i think then the markets will internalize this and we can move on. >> our next guest says that brexit's harm stems from the nature of the event and the ongoing uncertainty of what it will bring. the psychological angle of this and how to trade your way through it or maybe not, daniel crosby is the founder of the laws of wealth and secret to investing success. daniel you're with us from

atlanta this morning. so we are all human beings in the end regardless of what happens. from a more psychological behavioral perspective, what tends to happen when looking at the market during times of uncertainty like we're in now post brexit. >> the first thing that happens is we have least capacity to deal with these things when we need it most. studies show we lose 13% of iq in times of stress like this so a lot of great things we learned from ourselves or financial advisers are out the door when we need them most. second i think the uncertainty of this event has been a gut punch to most investors and sort of spiralled into great negat e negativivity in the market. that negativivity, that gloom, leads us to see every shadow as a potential threat. >> you do say precisely you hear

a strange noise and every shadow becomes a monster. if we look back at what we've just been through with the financial crisis, shouldn't we be more used to political wrangling and more used to the uncertainty with the central banks very much at the center of the uncertainty too and shobt we also be led to think that we'll somehow figure it out regardless of what happens. >> yes, it's tricky because there are primacy and recent si affects that play so most recently investors have been treated to some great returns even in the last year and a half two years has been flat. the last seven years have been extraordinary. i'm afraid we've forgotten some of the lessons we've gotten used to very little volatility. here i am at a time when the u.s. market is flat for the year down two percent in the last two weeks and people are very upset about what is really very normal

volatility. if you look at the last 30 years, the average intrayear draw down has been 14% and the market has ended up 27 of those 35 years. s so what we're experiencing in some ways isn't unusual, but we've become accustomed to a smoother ride in the immediate past. >> how do you figure out where the opportunities are if you're trying to both temper your own behavior and learn from history at the same time. >> i think the first thing you have to ground yourself new mexico -- in history and say across the countries i talk about in my book, studies say the more active you are the worse you tend to do. this also accounts for a lot of reason why women tend to outperform men, both retail investors and on the hedge fund side. you have to ground yourself in history and say i could do worse

than doing nothing, but if you're going to look for opportunities,ic you have to do what investors throughout time have toldtous do and look for where there's blood in the streets. right now the u.s. market is enormously expensive. top four most expensive broad markets in the u.s. of all time and the forward returns look miserable. europe on the other hand is quite a lot cheep. you've got the european stocks at a cape of 14 versus 24 in the u.s. and with a higher dividend yield. so i think you do the scary thing and you invest right where the panic is. >> well, you say that, but at the same time you say do less than what you think you should. mean in psychological terms, is there any way to kind of outsmart a market if the majority in the market if they're playing in one direction, should i be trying to call the different direction or

not now? >> i don't know that you want to do anything dramatic, but if you're going to be a buyer, i think being a buyer of european equities right now is a good thing to do for a long-term investor. you could certainly do a lot worse than just staying the course and maintaining that perspective. this is a good time to call your adviser. people who work with a financial professional do 2 to 3% better per year. and it's not because they are great stock pickers, they're going to homestead your hand during this time and keep you from making a bad, catastrophic decision. >> daniel, thank you very much. founder at nocturne capitol and the author of the laws of wealth, psychology and the secret to investing success. toyota is recalling almost 1.5 million vehicles globally.

the effected cars are prius and lexus models produced between 2008 and 2012. including vehicles with defective emissions control units, toyota is set to recall 3 million cars in total. no injuries have been reported to either mentioned. ikea is recalling around 36 million of its mound chest in u.s. and canada. linked to sixth death. the items can topple over if not mounted to walls posing a threat to toddlers and young children. sony is getting set to launch its new virtual realty head set. the japanese sec firm announced it will revisit robotics after abandoning the field years ago.

slowing demand for smartphones operating profits for the year beginning of april were held firm at 500 billion yen. nike shares fell by almost 6%. after the sportswear giant quarter posted quarter revenues. >> weak sales and disappointing puchs. on the earnings call saying fiscal year 2017 is largely in line with the prior guidance given in october and for the current quarter, north american gross will contract, but return to growth in fiscal 2015. ceo mark parker saying the company feels good in where we are from a growth standpoint. for the fourth quarter, though, north american sales and future orders did come in short of expectations and took a hit of clearance nike inventory. the stronger dollar also dented

earnings results though they did come in a penny better than expectations. sales in europe were light while greaterer china and japan were stronger than expected. strong sell through of basketball shoes in the coming months. and, of course, offering congratulations to lebron james and the cleveland cavaliers. jiems of course a key nike athlete. looking towards the real olympics as a sales boost in the coming months. coming up on street signs we're all on the titanic with a few days left. that sounds optimistic: that's a warning coming from mark faver. we'll explain that next.

hi, everybody. welcome back. i'm louisa bojesen. let's return back to our top story now. turkish prime minister has blamed the islamic state for the terror attacks that killed at least 36 people and injured many more at the airport. nbc richard angle filed this report. >> reporter: this was a coordinated attack at istanbul's international airport. one of the busiest in the world. the first suicide bomber according to witnesses blew up his device and opened fire with an assault rifle in the parking lot. that drew security forces. it drew onlookers. as that commotion was underway, a second suicide bomber detonated. this time right next to a taxi stand at the door of the arrivals hall. that explosion opened up a whole in the wall. a third suicide bomber was able to get right into the arrivals hall and detonate another

explosive. there was panic. people were barricading themselves in bathrooms, in a barbershop. most people however just decided to run out anywhere they could. police many reports of heroism. police we are quick to react. they fired at the militants. one witness told us he saw a police officer tackle one of the attackers. another video has emerged showing a police officer shooting the militant wo then moments later detonates its explosive. isis is the main suspect. the turkish government says it suspects isis was responsible for this attack and two weeks ago, nbs news reported thad a u.s. official told us that isis had staged more than 35 militants in turkey with the intention of carrying out attacks during the holly month of ramadan.

the month is not other. the rest of the fighters have not been accounted for. and there's a concern this could be the start of a wave of attacks. nbc news, istanbul. looking at european market, trading in positive territory across the board. coming back from what was sold off heading into the weak immediately after the weekend of the brexit vote. at the moment almost 2 percent when it comes to the ftse. pointing higher by a couple of points with the implied open on the right hand of your screen. rebound happening yesterday. the dow up 1.5 percent. nasdaq up by more than 2% with financials and technology. those sectors the top gainers.

to mention to you we did have this upgrade to gdp revised higher in the states. today just looking at the data that is due out, a bunch of earnings. monosan toe, general mills, peer one, the list continues. in the bond markets we're seeing yields even lower. 1.4 hit on friday for the u.s. tenure. germany and japan both in record territorying with bond offering less than 1% now. so it's difficult for the bigger funds that hold this type of stuff in their portfolio. let's get back to some of the other people that have been making noise. we're all on the titanic. that's the warning from marc

faber, but the doom report adds that investors still have a couple of days before the ship collapses so they quote, may as well enjoy the journey. speaking about brexit, the vote will exacerbate. >> you have a market where a lot of people are very cash rates. they have no shares and in my view brexit will give a perfect excuse to the federal reserve not to increase interest rates and be most like ly -- the othe central banks will also join and also launch further easing measures strengthening money to the global economy could worsen and stocks actually could go up. >> i wonder what an economist would say to all of this.

julia is with us once again. marc faber talking about the fed could use this as an excuse. >> >> reporter: joined by alan binder. he's a professor of economics at princeton university. i'm going to come back to the reaction function of brexit for the fed, but i want to ask you first, just how big a blow do you think brexit is for europe and for the uk here. >> first of all, it's one huge question mark tlchlt is potential very large downside for the uk. we don't know, but the potential is very large and it's hard to imagine any upside. for europe, i think it's a sizable, but probably not titanic downside. the ecb number that was leaked other day seemed low to me, but nobody really knows.

it's not like we have a lot of experience with things like that. >> that number affected the trade rather than investment and what impact that's going to have, but as i look around the world it feels like a battle of the uglies at this moment. >> yes. >> who win sns. >> who benefits here. >> that's a good question. who do you think is the least ugly, united states and canada, but the big giant is the united states. that's why unlike what most people are saying, i don't think it's obvious that this is actually a negative for the united states. i remember, for example, the east asian crisis in 1997 where a lot of people -- it was bad for the world economy. a lot of people thought it was going to drag down the united states. it was the reverse. >> reporter: so actually the u.s. could benefit. you made this point to me if you were a u.s. multinational here looking to invest, would you look to invest in uk, in europe. >> no you certainly wouldn't and

what if you were a yurnz multinational or uk mul multinational. it's not observe at all you go to the uk with this giant question mark. >> is this enough of an excuse do you think for them to say, you know what, let's hold off on rate hikes this year. we don't need to do them. >> the nice thing about it from the fed they don't have to decide about this year. they're one meeting at a time. obviously they're going to hold off in july. at this point i would guess they're going to hold off in september. september is a long way off. we'll know a lot more about the world economic reaction to brexit by september than we do now. all we know now is the immediate financial mark. >> where he know nothing about how this is going to work. >> yes. >> this is a very valid point. one of the themes here is better coordination of central banks.

what does that actually mean in practice. >> you may be asking the right or the wrong person. i'll tell whether or not you what i think it means, except in some very rare emergencies, we saw one in 2008, for example, it means being friendly to one another and doing whatever is in your own country's interest. i don't mean to be critical about that. i was vice chairman of the fed. when i fotook that job, i took oath. the oath was not about protecting europe or the uk or asia or anything else. it was about the united states. >> they are far more global. whether they admit it or not, they are. >> i don't think that's right. >> really? >> what the fed does affects the whole world. >> i think they look at the volatility of the market and back off of rate hikes and talk about brexit like it's to have an impact on the policy. >> they're usually pretty

careful because of the mandate to say the concern is the possible back wash on to the united states. they're pretty careful about that. even in the 25 famous basis points that saved the world back in 98, alan green span was careful about his wording. this is not just america issuing all central banks have that kind of a local mandate. >> reporter: do you think this is a big blow to globalization? you said the u.s. could ultimately benefit here? >> what about the trump factor? what about the t factor? >> it's a big turnoff and you can see similarities in the trump factor. i've never been a huge believer in the bicycle analogy like if you're not going forward you fall over. i think that's an exaggeration,

but there's a germ of truth in it. and this is probably the first really big anti-globalization step that we've seen. that's a big deal. >> but we've had notices for the last five years, whether it's tensions in europe, whether what we're seeing now in the u.s. look at the fill pea know election as well. where is the leadership to tackle this and what do they need to be doing? >> well, we're a little short on world leadership right now. can we get churchill back? i think it's a huge challenge to the next president of the united states and to chancellor mer chf whatever is left of the united kingdom. >> reporter: a huge challenge globally. >> very, very big. >> reporter: thank you so much. some great wisdom there.

i'm going to hand back to you. >> thank you very much. we'll see you very soon again. joining us there from lovely sent ra. here in europe, we're seeing the markets hang on to green. a very different story at the beginning of the week so we're higher, but 1.5 to 2%. a lot of you writing in with your views on brexit and on repositioning. >> i agree with doctor gloom that some part of the downturn in the stock markets happened to excuse an outlook, not brexit. when you think about the banks for example and the 30% drop in the likes of bar clay, was that justified or was that the knee jerk reaction that banks are supposed to be healthier now. we had been stress testing a lot of asset classes to in order to try to withstand potential

brexit. keep your e-mails and tweets coming through. we still read things after the show. you can find us on twitter @louisa bojesen. a lot of you writing in earlier on the psychology section we did earlier. every human activity like investing, psychology plays an important role. it was pointed out during that interview, the more you reposition and go in and out of the market, the worse you do looking back over some of the recent analysis that's been done. anyway, that's tend of today's show. we're back tomorrow. same time, same place. worldwide exchange is up next. have a lovely day.

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similarity. good morning. a quick exit. david cameron says the uk will not turn its back on europe, but some leaders are still pushing for a quick divorce. the latest from their summit in brussels coming up. plus a developing story out of turkey. suicide bombers kill at least 36 people at the istanbul airport. officials say isis looked to be behind the terror attacks. it's wednesday, june 29, 2016 and