increasing the soft power status right catherine young investment director for equities at fidelity international in hong kong thank you so much for this. iraq will receive three hundred thirty million dollars worth of immediate humanitarian aid from non-governmental organizations that is the first results of an international donors meeting currently underway in kuwait of the meeting aims to discuss iraq's reconstruction after years of war and economic turmoil what sounds like a lot of money is in fact only the starting point for an efforts that will eventually cost almost one hundred billion dollars. rebuilding iraq will cost eighty eight point two billion dollars after years of civil war and decades of under-investment that's according to the planning ministry complicating matters is the fact that the country is effectively under two governments there's the autonomous kurdistan region in the north with around forty five billion barrels of oil reserves the rest of iraq has at least one hundred fifty billion barrels. but it's difficult to get reliable data from a country like iraq which is plague

catherine young, fidelity international investment director. a lot more coming up.er in the show we will be live in kuala lumpur. david: and with gold, oil, and everything else in commodities really caught up with the market swing, don't miss our exclusive interview with goldman sachs's head of commodities research. this is bloomberg. ♪ ♪ haidi: we're looking at the new york city skyline. it hit me, or are things looking a little comb her compared to the situation yesterday? as we were talking about at the start of the show, quite far from being a calm recovery. we had those wild swings, ending the day with the biggest rally in 15 months, recovering from the most violent rout in about seven years. immediate futures looking flat when it comes to the dow jones, just a marginal downside, down about 1/10 of 1%. we are rejoined by catherine young, the fidelity international investment director. we wanted to pull up this chart that goes exactly to the point ,f what you are saying southbound flows propping up and limiting, to some extent, the damage we saw when it came to

joining us is maike currie, investment director, fidelity international. good morning.ers now come you would be forgiven for thinking one of the volatility over the last couple of weeks was never there, we're back up to the levels of before. we are, the us markets as recouped a lot of losses. all eyes onjerome powell. this is his chance to draw a line in the sand between him and his predecessor, janet yellen. but of course, she did a very good job on reassuring markets, navigating the path towards monetary normalisation. the big question investors will be looking for and scrutinising is whether the us will have four interest—rate rises this year. we know three are on the cards but if there could be another one. quickly, i want to get your take on the changes in south africa. you are from there, cyril roma poser announcing late last night a brand—new cabinet with a new finance minister, your thoughts? i'm very positive, i think mr nene is right for thejob. cyril positive, i think mr nene is right for the job. cyril ramaphosa for thejob. cyril ramaphosa is a businessman,

what's in store for us this week let's ask catherine young investment director for equities at fidelity international in hong kong very good to have you with us catherine first of all i'd like to get your insides into what do you make of last week's market. lost me last week's market correction really was well you could say very much anticipated given that for the past couple of years we really have seen the markets just grinding higher and higher nothing goes in a linear fashion and what happened was resource and wage data coming out two fridays ago this sparked some volatility and then really last week the correction we saw was very much underpinned by what we call known fundamental investors so these are kind of high frequency ikhwan traders we saw the very popular risk parity product really seeing some selling and we could expect more selling from these kind of investors especially given that so many people own so many equities at this point in time. you prefer to use the word correction rather than a mini crash while some people even talked about a bloodbath last week what we've seen last week d

we're also joined by tom stephenson, investment director at fidelity international. jason, you keep a laser focus on the positioning and on the ten-year yield is this a blow off top or does this correction worsen i think it's two-fold. i think the story last week is different from the story this week this week is much more about systematic flows, so you're seeing -- i think the right way to look at this is reverse back to last week and what happened last week. last week was a problem because you had negative bond equity correlation. so yields going up on the inflation story, the same time equities did not enjoy that. you have this environment that created vol. what you're seeing since then, since you created some vol, now you have vol targeting guys selling equity markets because they have to that's the structure of their business at the same time when you have both active and retail money at a 95th percentile long so there is no natural cushion to handle these systematic flows. that's what you're seeing today. this does not mean that the bond equity correlation stor

let's discuss this with fidelity international, an investment director there.goes on and on and on. what is your view of the narrative and how it is involving -- evolving? >> we have seen a cruel month in february. the what is happening is definitely something wrong but from ourappen, perspective what we are saying is that we remain positive on what is happening on the ground in asia with asian companies. there are several things happening. one is earnings. valuations are attractive relative to developed markets, but there are questions and uncertainties about what is happening in the u.s. with a new fed reserve chairman, as with china and what is happening there this week. rishaad: that is what my question was originally about, whether the federal reserve interest rate policies, if we see four hikes in the cost of borrowing, how will that impact the likes of india and china? at what thelook markets are telling you today, the interest rates are expected, the hikes come and that is in the price getting priced in. the question is despite all of hikes out of the u

country che wanted international revolution they came a point when the relationship came to an end the icons of revolution who changed the course of latin american politics. and fidel castro face to face at this time on al-jazeera we have here as if data we know the products of from buying everything that you're doing that's really where the power of the all powerful internet is both a tool for democracy and the threat you believe that any of your companies have adana fide the full scope of russian apted measures on your platform in the echo chamber world of fake news in cyberspace the rules of the game left changed there are no precedents people in power investigates this information and democracy at this time. the united states puts i have mass leader on its global terror list the palestinian group calls it a dangerous develop.

. >> in cuba, fidel castro led daily protests demanding the boy's return to his father. the internationaln for 7 months. until the clinton administration sent immigration agency armed for battle into the home. the fisherman who saved the boy had him snatched from his arms. elian's father, elian joined the young communist union and became an engineer. 18 years later fidel castro is gone from the scene. the u.s. embassy in havana is open for business. this case put a spotlight on the bitterness that divided cuban families. dalripple has never seen the boy he saved and lost. in miami, steve, fox news. >> it wasn't what you expected. was it what you thought was going to happen? did it meet the hype? we will ask the panel about the memo and the interview with the chairman of the house intelligence committee when we come back. claire could only imagine enjoying chocolate cake. now, she can have her cake and eat it too. nexium 24hr stops acid before it starts for all-day, all-night protection. can you imagine 24 hours without heartburn? you've probably seen me running all over the country in sea

this country che wanted international revolution became a point when the relationship came to an end the icons of revolution who changed the course of latin american politics. and fidel castro face to face at this time on al-jazeera. with al-jazeera these are our top stories the united states has designated the political leader of hamas. a global terrorist and impose sanctions against him the state department accuses him of being involved in terrorist attacks against israeli citizen citizens how mass is branding the decision a violation of international law. thousands of syrians of cambridge future in the united states will be allowed to stay for at least another year and a half the trumpet ministration has made the decision to give extended temporary protected status to seven thousand syrians but they must have been in the u.s. since august twenty sixth state which means any new arrivals will be placed on hold . and u.s. president on trucks decided to keep the guantanamo the military prison in cuba. via an executive order his predecessor barack obama had promised to close the facility within a year of taking office. the kenyan government says three t.v. stations tha

fidelity wealth management. >>> thing one tonight, donald trump spoke at a dinner for the rnc, a fundraiser held at the trump internationalotel in washington or in other words, it was yet another example of how the trump family continues to line its pockets through the presidency. it also presented the president with an opportunity to brag about his cognitive abilities. he had the white house press pool escorted out the first few minutes but breitbart obtained audio which jives with the notes from other reporters. they didn't release the audio but wrote about it. in the beginning trump had to identify sketches of animals, which was easych and then later he had repeat disassociated words as the test administrators asked him to repeat them. the last ten questions are hard. there aren't a lot of people that could do that. just to be clear, this is a test to see if you are -- have dementia. it is not an iq or app tude test. that is the memory. but life presents us with memory tests every day and he had a much harder time with one this week in west virginia. thing two in 60 seconds. so why wouldn't you take something for the m

internals of it as well. "squawk on the street" back right after this at fidelity, trades are now just $4.95.des to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. >>> let's get back to today's important jobs report and breaking news on janet yellen. steve liesman joins us. >>> cnbc has learned janet yellen will go to work monday morning at the brookings institution. staying in d.c. even though she's from san francisco she'll be joining former fed chairman ben bernanke along with former vice chairman don cohn there. the hutchins center is the center created by hedge fund magnet glen magnum she leaves the office with another solid jobs report. up 200,000, better than the expectation. november and december combined revised down 24,000. not all that important a nice average hourly wage up 0.3% unemployment rate, unchanged now for the fourth straight month at 4.1% participation rate unchanged for four months at 62.7% here's where the jobs were, education health services, not a big surprise construction is a surp