more volatility good for deutsche. we talked to the ceo of deutsche bank, who says trading revenue is picking up as higher rates drive activity. i am alix steel with guy johnson. welcome to bloomberg markets. all this ties together. higher rates come more volatility, more confusion, and that means more trading. guy: q2 might be a low point in terms of the fixed story for deutsche bank. he was telling me he does not see an end to the macro uncertainty and he was right. out with a 50 basis point hike. the s&p 25, which sounds hawkish. another critical piece of the puzzle picks up a little bit. would you move if you had locked in a good rate? that is the question. the home sales market in the states is broken. alix: i will not move unless there's a strong circumstance, but i also think the interesting part is the homebuilders, for example, because that is where you will get the real action, that index is doing well. the homebuilders, semis and cyclicals, like big banks, are picking up. maybe those areas have had the soft

guy: that was the ceo of deutsche bank, christian sewing speaking with me.eeling good about the situation going forward. will not talk about future acquisitions. talked about seeing a recovery in the second half of the year. tom: thank you very much. thank you for the exclusive. we will come back to check on the stocks on this very bleak day. european stocks down. here in the u.k. off points. stay with us. this is bloomberg. ♪ tom: welcome back to the open. we focus on the poa and its decision later today. european benchmark is down by 1.3%. when it comes to real estate, none more consequential to sweden then sbbb. over in nordisk, 35 euros per share. a deal over at nordisk. deutsche bank, the exclusive interview with the ceo. they see trade equity in stock. for coyness surging past the $30,000 mark for the first time since april. a shot of optimism. let's bring in anna herrera. why are big financial firms subbing up and filing right now, what do they know? anna: they move quickly. what happened is probably that they saw that they can make a lot of money. ma

we will take a closer look with deutsche bank. rishaad: japan's finance ministers saying that government will intervene if the yen touches 145 per dollar since november. details. this is bloomberg. ♪ ♪ (upbeat music) ♪ ( ♪♪ ) woah. ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. rishaad: the hang seng has been coming down since it opened. china stocks are not doing well with that half percent gain for the [indiscernible] amtek is bringing things down on global stocks falling back slightly. one major economy losing momentum is china with data for june showing manufacturing activity contracting again and nonmanufacturing weaker than anticipated. chang shu is with us. what do you make of these numbers? >> the set of data has raised the markets concern for the health of the chinese economy. nothing in terms of services and bits of improving in that manufacturing sector. if we look at details -- the weakness

india's financial crime and energy has issued notices to deutsche bank, hsbc and others over allegedhange action. we arejoined live over alleged foreign exchange action. we are joined live from mondo. action. we are “oined live from mondo. ~ . action. we are “oined live from mondo. . action. we are “oined live from mondo. ~ . mondo. what can you tell us? this is the _ mondo. what can you tell us? this is the case _ mondo. what can you tell us? this is the case of _ mondo. what can you tell us? this is the case of notice - this is the case of notice issued by the enforcement directorate against alleged illegal action by xiamen india account into overseas entities under the guise of royalty payments. the same notice issued to deutsche bank and others for not stopping these illegal payments and not doing their due diligence. this is a case ongoing for the last year orso case ongoing for the last year or so so the investigation to a tune of about $670 million have been frozen in the country and xiamen has lobbied the government to freeze these accounts and they have said all payments are

deutsche bank have raised tui's price target to 843 pence, a more than 50% jump.eutsche telekom heads higher, after an ugly day friday, dropping 9% based on amazon entering as a wireless provider. deutsche telekom holds 50% in t-mobile which would face direct threat from amazon in the u.s. novo nordisk is down 1.6%, it is in talks to buy a controlling stake of a biofarma company for $35 per share. there is a drop because of the cost and difficulty with absorbing a new company. ubs moving to the upside just 0.6%. it could complete the purchase of credit squeeze by next week at the earliest. let's get to some of your other top corporate stories with the bloomberg business flash. the u.k. remains a top destination for foreign direct investment last year. britain landed to 76 investments in 2022, up from the previous year. more than a quarter of projects across the continent. france saw a 25% drop in projects. germany and spain were the third and fourth most important destinations. ubs is looking to retain more than 100 credit suisse investment bankers across asia. th

emanuel rosna at deutsche. >> tesla and nvidia going strong. >>> after a break, the leadership shakeupg of autos, we're watching avis today. morgan stanley goes to overweight, bullish on their flrieet sk management. target of $230 stay with us a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠. what do you see on the horizon? learn your way. not theirs. uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. from big cities, to small towns, and o

in the next hour, we will speak exclusively with the deutsche bank ceo christian sewing. with us for that. this is bloomberg. ♪ dani: volkswagen technology said the ev battery push is proving to be one of the company's biggest challenges. he spoke to our bloomberg germany correspondent. >> it's only possible because were looking for perfect team. we are little bit behind, so we need to catch up. >> one of the challenges a lot of people who are little further ahead, like tesla, they have had issues with scale. volkswagen are masters of scale. what can you do to avoid some of the problems competitors face? >> the advantage of power core or battery companies that have their own firepower, and to have the ability to go fast. it's the firepower of a complex company. in the technology is important because the increased complexity is what gave us speed. >> in terms of those bottlenecks, is it labor, machinery, raw materials? what are the things you need to smooth out? >> everything is a challenge in that business. it's not only the battery factory, it's knowledge about battery b

he joins us and we talk about deutsche bank. began, there is no question about how he has righted the ship, when does the street at deutsche bank have the evaluation of a higher value? guy: there's a number of ways of looking at this. let's start off by how he looks and feels. he is or calm and has one of the most positive views than i've ever heard from him. they made an acquisition in london. that caught a lot of people by surprise. but he's talking about going further. he believes he can take a look at what is going on. but when we look at the credit suisse story, what was the next place window credit suisse story found the momentum. it was at deutsche bank. he certainly feels a sense of frustration. but look at what happened in the situation we got through it and -- that is what he was saying. he is pleased with where they are. is he please with them, absolutely. i think that is the message he's delivering. tom: i like the message and it has to come with expansion. our american audience does not know numinous, what is it and

deutsche bank's jim reid says it is hard to press how this release was yesterday.hat does it mean for the bank of england >> investors took note, julianna prior to yesterday, most believed one more 25 basis point hike and possibly two. the inflation number changed everything just as a reminder, it came in at 8.7% for the headline no improvement from the prior month. similar to april the fourth time in a row that uk inflation prsurprises to the upside notably, the core cpi number without energy and food, which is tracking at a high level of 18% annually and if you remove those two, core cpi is 7.1%. that tells you the domestic pressure that the bank of england talked about at prior meetings is present and persistent the onus is on them to do something about it at this point. markets were quick to react yesterday. going into today, we have 37 basis point rates hiked in that means there a 50% chance of them going .50 basis points higher markets are pricing in a terminal rate of 6% in february of 2024. another 140 basis points from where we are now investors do not rea

i'd be interesting to hear what you're thinking. >>> coming up, as shares of deutsche bank decline and fedex slips after reporting weak forecasts for the full year. we're going to discuss more after the break. >>> also later today but only for our premium subscribers, arabile will be speaking with dani saurymper they will be discussing the aging population you can subscribe by scanning the qr code on your screen right now. hi. i'm shannon storms bador. when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and thanks to shipstation's discounted rates we're saving a ton. honestly, we couldn't do it without shipstation join over 100,000 online sellers who get ship done with shipstation go to shipstation.com /tv and get 2 months free. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even

it is very interesting and there was an analysis by deutsche bank on the u.k.ortgage market in the proportion of homes that are owned outright, 35% in the portion around available and mortgages which is 15 versus 85. as each month goes on there are more variable or expensive rates and that will squeeze economy and ultimately lead to an erosion some profit versions because people have less to spend. dani: let's talk about how to price the end. -- price that in. junk bonds have contracted to regional banks price levels, some around 400. we have seen in the past something like 1000. do you start pricing that in? gordon: with spreads here, it is tough to see them rallying more because we have the risk of recession hanging over us. in comparison to the fairly attractive levels that can be had and government bonds, it is a hard value situation. when we are talking to our investors we are complete -- competing against cash as investment class again for the first time in decades. nonetheless, spreads till do or compensate for default risks -- do overcompensate for defa

they took country and then such a scenario, germany would take on a vital role. deutsch done is gemini, is at the heart of nato's defense planning because of our central location of your items klein operations are planned on conduct a tia. this is where allied forces i received and supplied in this is the place they must through this request and almost logistical support, including from the whole nation. gemini, we still have a lot of catching up to do here, on deutsch loans. the i'm the know a bleaching not loaded up the drum and on us apples spelt atomic them on over 5 years ago. but with the rushes invasion of ukraine meant to exercise is like this one have taken on any significance made to it says it wants to send a political message of the turns. and it is willing to interrupt daily life to make it clear. 3 flights and have to be temporarily close to civilian traffic. meaning luckily delays on some civilian flights. more than 10000 soldiers from nature, the countries all participating in numerous drills, india, and on the ground. but the operation has also drawn criticism deep my

the deutsche bank ceo said he thought it would not.ity would continue. sonali:fic is a large business, fixed income commodities are different banks perform differently in that regard. with goldman in the cooling of commodities in the most recent quarter, they had benefited from that in the prior year but it did not extend. as aggressively into this year thepoint you're are making is interesting because it's not that every fixed income businesses under pressure, it's under asher relative to last year -- it's under pressure relative to last year in certain business lines. deutsche bank has rates that can benefit them across the world and they are more weighted in certain parts of europe and abroad than maybe some of the smaller investment banks might not be. alix: i feel like there have been some modest private equity deals over the last 48 hours and some getting out of clo's. there is stuff moving on the pe front so what do you make of that? sonali: with muted deal activity for so long come you've got to get excited about a 2 billion-do

the investor i gave him is dusty deutsch and on this front end up at present on me not to think creek came. england turned on me a call that safely i am the band. so life threatening to dodge and all within creek gave northland. damn for been the naked guns from doors to bite off on 40 different busy schools so far out tomorrow. allison because the student is going to use from the gun needs diffraction ended march 1945 britain. and the us entered into secret negotiations with germany to negotiate the surrender of german forces in nor financially at estimate no truly on dr. state. tied to name and is little bob getting the best nice to for let's dominate, know for ended as can you just gonna put it focused on. okay, give me what is of it when i leave the payments of i don't know as much as on all the hit on the guy side payments and find in his letter to president roosevelt stone, an open leah key. was this the allies of negotiating a separate piece with jelly? already on his deathbed, roosevelt writes back saying, excuse me, mister font. style responds with solomon so humble from the

shop now only at sleep number shery: ceo of deutsche bank says they expect trading results to improveigate a challenging economy. speaking with bloomberg, they told us the bank sees momentum in the business of fixed-income trading. >> we have a very strong copper bank and nice developing private bank and we can confirm our revenue for the year. we see the momentum and q2 2023 from a revenue point of view was higher than q2 2022 so overall i would say the bank is faring well, the strategy is paying off. regarding the investment bank, we always said we had a record year, we had an extraordinarily strong year in 2022 and i still think in q1 and q2 we have done well but the overall market is a bit weaker then the record year of 2022 but i do believe with some uncertainties, first -- for example the debt ceiling going away in the u.s., with the still complex situation in front of us, i do believe in q3 and q4 there is momentum in the business on the fixed side but for us as a strategy of deutsche bank it is important that we further balance out the investment bank overall with a very stron

jonathan: the bulls, deutsche bank. binky is looking for 4500 on the s&p.e fed meeting, what we are going to do is focus on the guesstimates for it. we are thrilled to bring you someone who runs an economy that is better than good. picking up a trophy in new york this evening, nadia calvino, spanish vice president and minister for the economy of spain. why is spain always the number one performer? jonathan: are you talking about football? tom: yeah. there it is but the answer is spain is unique. we are thrilled the vice president could join us. thank you for joining us. i have got to go to the weather. there is a drought in africa that will grossly destabilize the agricultural dynamo that is spain. quite frankly, and this worry about drinking water as well. how urgent is the drought in southern spain? nadia: it is a very serious issue because spain is a world superpower in the agro food sector. it is impacting the harvest in some areas. drinking water is guaranteed and we are investing heavily, more than 6 billion euros, in the utilization of water manageme

deutsche bank is a name we are following down 2.5%.ndustrials down as well .70%. >>> let's talk about the market impact on russia the oil market is in focus amid fears that the events in russia which is the world's largest producer could impact supply the moves follow declines last week weighed down by further interest rate hikes by the fed and weaker recovery in china bit of a mixed bag you can see most of the oil majors which are the actual shares of the companies are trading in the red weaker to the tune of .50% to almost 1% weaker on the day. deutsche bank is one of the banks we're looking at it is no longer able to guarantee access to russian stocks owned by the investors. the bank notified investors in the month that it identified a shortfall in shares back in the dep deposit receipts it issued before russia invaded ukraine. disappointing news for anyone holding stock. down 1.9%. >>> world leaders are assessing the implications of the revolt that lasted 24 hours speaking to nbc news, u.s. secretary of state blinken says this expo

jp morgan, deutsche bank are some of the big lenders investing on boosting ai in their firms.ore on that when we come back. we push ahead to future earnings. broadcom expecting sales to start slowing but could ai give the company a boost. remember in may, they had their best month ever, up 29%. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh caroline: welcome back to "bloomberg technology." i am caroline hyde in new york. we are halfway through the trading day. the nasdaq, we are seeing risk tolerance come backing to the market. we are seeing a debt ceiling -- hoping the federal reserve might pause. even though the inflationary pressure is styling back a little bit, the jobs market is still on fire. we are waiting for the jobless number to come out. mixed dated today in terms of adp. to your yield back five basis poi

details later this hour plus deutsche bank says it expects better trading results in the second half.is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> it is working families that suffer the most directly from high inflation and it is for the benefit of this country on a sustained basis. >> this is difficult. i do understand that. then it goes on for much longer. >> you are listening to fed chair chair powell. the central bankers meant to concerns of those pressures remaining undefeated. this is a new phase of monetary constriction. more on how that is weighing on markets. let's bring in david finnerty. we already saw the reaction when it came to all of the hawkishness we got from central banks on the rate space with global yields just jumping. >> yes, exactly. they are in a hawkish mode at the moment. they did 50 basis points. w

the comes almost a month after deutsche bank made a similar settlement. eu member countries agreed on rules to protect gig economy workers after months of wrangling. millions of workers could be reclassified as employees rather than contractors. they then have to pay out things like employment benefits and socialistic. . feel less guilty. you see them on the bikes. thank you very much. let's go truth or fate. before ukraine confirmed the start of the counteroffensive, moscow made several false claims would you got on that? >> russia has threatened to display tanks. we have seen more misinformation surrounding the alleged destruction. in my example, this was published by the russian ministry of defense on its official telegram channel. we can see there are over 300,000 views and in this, russia claimed it managed to destroy 28 ukrainian tanks. as proof of this conquest, they included this short video showing the alleged destruction of these tanks. if we have a look at the video. look at what we see. can see the silhouettes and count three silhouettes. when

that's the quote from deutsche bank.is a giant company, bud light takes a small portion of it. lauren: modelo took over the number one stop. it is up one. 5%. %. stuart: quickly on expedia, it's moving up. lauren: it is up 3% taking price target to $160. stuart: here's a story we have been nibbling at the edges of for some time. squatters and renters who refuse to pay leaving landlord's with huge legal bills and few options. jeff flock has more, tell us what happened at the home you visited. jeff: better to show you what happen. this has become an increasing problem across the country particularly here in philadelphia. the property manager, thomas, come this way and show stuart this. >> let thomas walk through this. this is a property that had been rented. >> we had a tent occupy this property for a year and a half. >> reporter: how much rented they pay? >> two months worth of rent. the rest was money that we never saw. >> it was nicely painted in good when they moved in. >> correct. with parquet floors, tile. >> are tor

west coast ports >> we here at deutsche bank are hearing a lot about the reorganization of how portsountry it started with the expansion of the panama canal many years ago. also, because of the inconsistency of the negotiations between west coast ports and pacific maritime association. we are seeing market share divert away from the u.s. west coast ports to the west coast of canada and also the east coast and port of houston as well. all of these ports are making infrastructure improvements. the bottom line is there is a restructuring of the imports >> certainly something to watch, amit that makes me ask about the buy rating on stocks buy rating on the big player on the west coast port. a hold on union pacific and jb hunt huge players what is the long-term outlook on those companies? >> right now, we are in a weak freight environment. we believe that it is darkest before dawn in the transportation landscape the transportation sector is out performing 800 basis points. we are about as bad as it can get right now. there is one direction of travel here which is positive we're quite posi

it will be good for society and the overall industry and for deutsche bank.people need to interact. guy: that was the deutsche bank ceo speaking exclusively to me yesterday about the companies return to office policy. in the united states, they've taken a more clear line that you have to come back into the office. citi is one of a more relaxed banks on wall street and it is making it very clear during the process and the stuff we are about to go through that come back has an impact. with pay and positions and if you do not come back into the office that may have a reverse impact as well. joining us is sonali basak. certainly they have taken a more benign approach than others. why is that now changing? i read this worry on the terminal. it struck me as a straightforward one come back into the office, things will work out. don't come back in, as we go through the process you may see a reduced pay packet coming your way. that seems logical to me. is that where we are? sonali: for citigroup it is one of the more relaxed policies on wall street. like rock recently

deutsche bank says a modest 3% to 5% selloff is overdue.been three months since the last meaningful drop in march. do we need a catalyst or do we fade this equity rally into the end of the month? in treasuries, rally yesterday led to the belly of the curve after some week data seemed to spur some bond buying yesterday. guy was just telling us we are near the end of the rate hike cycle for the fed and that's when we usually see a rally, but what will the catalyst be for the rally? that's not clear. elsewhere, china setting the strongest fix for the yuan versus expectations for the year, maybe 725 is in the line in the sand but the speed at which china was closed for the holiday. what you get when the onshore reopened? substantial weakening that china stepped in and again, the strongest bias of the year. let's get to some other top stories we are tracking. russia being the top one. vladimir putin has condemned the wagner mercenary group as traitors. overnight he made the first comment since so threat to his rule. >> i address once again all r

deutsche bank is using ai to match our customers with particular bonds or securities.y has just produced software which will help it analyze speeches and statements from the federal reserve and get an indication of what interest rates will do next. manus: what about the critics? what do they say of relying on robots rather than humans? >> there were some very high profile critics. warren buffett in particular is concerned about what he calls anything that can't then be uni nvented. bank of america have raised concern about lack of knowledge about how decisions are made by ai. one of the main concerns is particularly if you are using a large language model like chatgpt, it will spit out information at the top that you don't have visibility into the information it is consuming to come to those assessments. these large language models need so much data to trade, that they are reading things like read it, -- reddit and any information on the internet regardless of its quality, analyzing it and spitting it out on this confident, assured voice. there are really obvious risks

. >> and anastasia, it has been a while since we have had a pullback that's what deutsch is talking about. the selloff was now over three months ago and a modest one, 3 to 5% typically every two to three months means a pullback is now arguably overdue you can make the argument that stocks are overbought and a pullback is overdue, and whether you get a pullback whether it's deutsch or gm calling for a selloff. >> i am sympathetic to those getting stretched, and last week we had 1.5 pullback in the s&p, and i think that might be a start of something a little deeper just to drill down into positioning, for example, what has really driven the rally over the last six to eight weeks, is everybody trying to chase the market and chase tech. it's the systematic traders and hedge funds have significantly added, and look at the volatility, for example. the fact that the call option volatility is low as it is, that tells you there's a significant amount of chasing and that part, that chase, is getting exhausted. and even the economists -- it's interesting, even the economists are ratcheting down, and

by the end of the market, you have the deutsche telekom sector because of the amazon story. there is also a property story in here as well, much to talk about. we need to talk about china and the effect it is having. it is having a big effect on names like the copper sector, it has had a good day, which is interesting considering iron ore is a but copper has rolled over a little bit. do we believe the stimulus story out of china? is it going to have a market effect or will it fizzle like the previous ones have recently? svb is another -- sp bbb is another one i want to talk about, rising rates. we now know the seo will be stepping down, i think on the fifth. we also had a story or -- story earlier of early stays talks about a company portfolio. look at the reaction. obviously a lot of shorts in the mix so a bit of a squeeze going on but the stock is up by 53%. alix: let's track that over here. the s&p is up by 1.2% so dish outperforming and that goes to the headline amazon is thinking about offering a phone service with prime membership, t-mobile and verizon and potentially

deutsche bank is using it to pair up there clients with securities in equities and bonds.stanley have applied for a patent which would enable them to use ai to analyze communications from the fed and get a sense of what interest rates will do next in the u.s.. bnp paribas are using it to detect fraud and money laundering. tom: it sounds very positive but can go back to the flesh trading as banks embrace this kind of technology at least built under technology capabilities. there have to be risks around ai. what are people saying about the concerns about how you fold artificial intelligence and largely which models into the banking sector? will: warren buffett has fly concerns on an earnings call recently about how once you have invented ai, you cannot take it back. that is probably the abstract concern. to be more specific, people say you don't really know what goes into a large language model like chatgpt at the beginning. all you see is the analysis that it puts out at the end. there's been little accountability and transparency into how it is coming to conclusions that i

the so they did try to get him jeffrey decides i lose right to be the one that i gave him is dusty deutsche. and on this front in the bed platform done me not to think creek came england to what i mean that safely. i am the band. so life threatening to dodge and all within creek gave northland. damn for been the naked guns from doors to bite off on 40 different busy schools so far out tomorrow. allison because the state is going to use from the gun nieces pricing ended march 1945 britain in the us entered into secret negotiations with germany to negotiate the surrender of german forces in nor financially at the summit. big coleman truly on dr. state died to name and as little bob couldn't the best most for let's dominate, know for ended as can you just gonna put it focused on me? what is of it? and i'll either, if it is over, i don't know. i started on all the hit on the guy side tables and find in his letter to president roosevelt. stall an open leah key was this the allies of negotiating a separate piece with jelly? already on his deathbed, roosevelt writes back saying you have the missin

wau deutsche bank calling the bottom on bud light sales ♪ ♪ every day, businesses everywhere are askingn help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with global secure networking from comcast business. it's not just possible. it's happening. this is dr. arnold t. petsworth, he's the owner of petsworth vetworld. business was steady, but then an influx of new four-legged friends changed everything. dr. petsworth welcomed these new patients. the only problem? more appointments meant he needed more space. that's when dr. petsworth turned to his american express business card, which offers flexible spending limits that adapt with his business. he used his card to furnish a new exam room, and everyone was happy. built for dr. petsworth business. built for your business. amex business. >>> the buzz on bud light continues, but a little different m■■■oday.g,■ parent company abm tojl■a buy initiating a catalyst r for bud light that recent head business does not fully

katie: stephen, there is an interesting research report from deutsche bank flashing a warning for corporateey say credit defaults will consistently rise in 2023. they estimate defaults should peak at about 9% for u.s. high yield by the end of 2024. is that a concern you share when it comes to the fundamentals of this market? >> i don't share that level of concern. it does pick up in a decelerating economy that's fueled by the fed conditions. when you look at the underlying composition and what constitutes leveraged finance as well as the type of economic environment we are headed into. my expectation is that default rates are simply going to rise from ultra low levels we have experienced recently more toward or above historical averages of somewhere at three or 4%. that is far from causing a great deal of concern overall. i would say with respect to leveraged loans, there is expectations that leverage loan default rates would be substantially higher than high-yield bonds. we have a different opinion on that. despite the proliferates of single b transactions, you look at it company by compan

last month deutsche bank where epstein was a client settled for $75 million with epstein accusers.ians western state is on high as an extremely severe cyclone is due to hit later this week. it is currently over th arabian sea and is expected to reach the states coastline. people are been -- people have en told to avoid the beach and fishermen have been asked not to go out into the sea. japan isoised to raise the age of consent from 13 to 16 and an overhaul of sexual offenses legislation going through their parliament. the laws reform, after several rape acquittals in 2019 that caused public outrage. our correspondent spoke with the women challenging the stigma. a warning, her report contains descriptions of sexual assault. reporter: a small gathering where flowers are a symbol of defiance against silence. for four years, sexual violence survivors have gathered every month in this central tokyo spot to share their stories. what is now known as the flower demo has become a national movement after a series of high-profile rape acquittals in 2019. for its founder, every gathering bring

settlement haven't been disclosed yet so we don't know exactly how the money will be divided up but deutschecase about a month ago and they set up a fund where victims can apply, essentially, for a claim. matt: thank you very much, ava, covering that jp morgan epstein settlement. we will continue obviously to cover this case as the other two outstanding cases are litigated and/or settled. for jon erlichman, i'm matt miller is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> a busy week for investors, a big decision for the fed. romaine bostick kicking you walk to the close. a countdown today to what could be a third straight day of gains for the s&p 500, seeking to settle above at 4300 level for the first time going back to august. a modest gain and a relatively narrow one with big tech and big discretionary names leading the way.

deutsche had it at 430. now, of course, as i said is, up to 500.m $415. the photoshop program designer announced it will offer fire fly, its a.i. tool that wety but ad here on fox business about a month ago for yen rating images to its larger business customers, and it's going to offer financial indemnity for any copyright challenges involving the content made with the tools that might arise. investors not gambling on u.s. casino stocks after jeffreys downgraded both wynn and las vegas sands from a buy to a hold. the stocks are off their earlier lows but still down. we've got lvs down about 1, wynn lower by half a percent. the investment bankers also lowered their price targets, wynn from 114 to 65, wynn's at 102 right now, and lvs from $135 to $69, it's at 57 at the moment. jeffreys leaves the macau recovery, the mecca of gambling in china, has already been factored into the stock the prices. and talk about overdrive, whatever you guys are doing right now, stop and look at the screen. carvana investors are gunning the engine. shares up 60% at this

between the opponents and the supporters of mahdist in these conflicts , as the german news agency deutsche welle wrote about the earthquakes of last year's avalanche in the university , allah mehtadi is burning for continuous solidarity. criticism of some members of the congress, solidarity, of course, did not last more than two weeks, hamed ismailiun's hypocrites attacked the separatists again with the monarchist and got involved in the middle of the fight, even it came to sexually harassing the opponents . it was published on social networks that this physical harassment is a form of harassment gensi confirms to you that this situation would have ended in killings among the opponents of the islamic republic if they had weapons. here, the expert of the international network, regarding the conflict among the members of the commission, says that in recent times, the freedom society of the forces that the involvement of the iranian forces is just a child, the difference is this, or through not having a commander that you have a fight with each other, jump on twitter , make statements against

defeated and android tablet 31 and made people, in the year of important dangerous matches and nouri deutsch'ses against opponents, thanks for your support. thursday, june 11, 12 thousand coffee and the first of june in tehran golbaf will be at 19:15 from 19:35 and 23:13 and now today the economy and colleagues of mr. bozor nasib greet you and have a good day. greetings, courtesy and respect to all the dear viewers of the economy, we had in the news that in the seventh program , we have set 90% self-sufficiency in the production of basic goods . now the emphasis is on the existence of today's economy desk how much will it cost to make this happen and how much progress has been made so far? according to our discussion on khabar, follow me, i was telling you that a target of 90% has been set, but today we are talking about the level of corruption and that, in general, self-sufficiency and self-reliance and independence in various economic topics is quite clear, except for agriculture, industry and mining, today i want to tell the son how many of the imam's ideas presented in his orders have been

charged to the conclusion, the dodging. critics go 5 minutes to the automobiles he had taught the deutsch kind of annoyed at the buffer mentioned to them, the dream is to have the most to reach and not the trend wanted to it is to what's coming up on the lines conte starting of rockdale, as you send us, the solo stands and best must be of the on josh's uh yeah, i've been anything for me. it was a medium form yet. and he is as dr. fees, nice to that's enough. we're no longer interested in a union with the russians. so we don't have to abide by the agreements with them. we need to make the alter records non existent, rejoining the but the allies need the red army in the fall. it with a one and a half 1000000 strong quantum natalie is waiting for us. and for a hard time, are we taking several islands from japan, welcome some help or the japanese accredited. the most was the idea that the soviets, by convinced that the stiff as war truman understood this talent assurance of the russians are coming in on schedule. truman writes in his diary, test dollar will be in the draft for by august 15th

charged to the conclusion, the dodge and critics government on such as automobiles via type, the deutsch kind of annoyed the buffer magenta, that the children still have to know and almost to reach to know the trend. when she to it is to put something up on the phones. conte starting across the of us. you send us the cell phone and best must be of the on chargers. uh yeah, that'd be nice. nice to inform you that was in the inform you need those doctors fee like the dish, the west mesa, that's enough. we're no longer interested in a union with the russians, so we don't have to abide by the agreements with them. we need to make the author records non existent very, to him and the but the lies need the red army in the far east with a one and a half 1000000 strong quantum natalie is waiting for us. and for a hard time, re taking several islands from japan. welcome some help with a japanese. it's rather the most was the idea that the soviets might come into the stiff as war. truman understood this solid assurance of the russians are coming in on schedule. truman writes in his diary style and

the supervision of a german bank , reuters writes about this with reference to his letter , the deutscheation by russia's decision to allow investors to convert part of depository receipts into local shares and western countries ended up in critical condition due to the high level of public debt , this was stated by the executive director from russia in the international monetary fund. alexey may in an interview with ria novosti according to him, after the pandemic, budget deficits increased in order to reduce them, countries increased their public debt. this has affected the imf itself, against the background of the huge debts of states, it is difficult for the fund. find funds to issue new loans. this was the news of the economy in short. we watch to know everything about russia , we watch the best historical series for free without registration. mikhail mishustin called for the consolidation of society against the backdrop of an attempted armed rebellion , he stated this at a meeting with his deputies. today russia is experiencing an important period of its history is directed against

deutsche with raik, since 1871. they are, uh, outlawed, but in fact, germany is a young state.you say really about this, and this today's process and, uh, when we start talking, here is a united germany in 1990, it all happened germany is asking itself questions today. well, even if these people are outlawed, but she asks herself these questions. and we are what kind of state we really are. uh , who are we? we are a state that exists there, as we say, german culture is a millennium or german culture and german statehood in general. this is something quite fresh, so these processes, they are going on in germany today. and, of course, he will listen carefully to what putin said. because when he spoke about ilyich's ukraine, then germans can think about bismarck's germany and, in fact, they are already thinking about it. well. private heinrich the thirteenth, who led the entire campaign for the reich's daughter. he is in prison , this whole process is going on, but all this. in general, it’s very sad, but it’s also interesting today’s putin’s speech that no inviolability of ukrain

i've also had to be the one that i gave him is dusty deutsch. non the restaurant in the bed platform doesn't mean nor to think creek became england around me. a call that safely i am about the band. i'm so glad struck the dodge. and albert and creak gave northland down. for ben, the naked guns from doors to bite off on 40 different busy schools so far up tomorrow. allison, because each team is going to use from the gun needs to freshen ended march 1945 britain of the us enter into 6 week negotiations with germany to negotiate the surrender of german forces in northern italy. dissolve it on. that. doesn't mean no truly on dr. state tied to name and this will dial bob could eat the best most for let's dominant know for end of this because here focused on me was, is of it and i leave the payments has already started on a lead or for 100 guys. had a business find in his letter to president roosevelt stall in an open layer, keywords as the allies of negotiating a separate piece with jelly. already on his desk bed roosevelt writes back saying excuse o

adopted as soon as possible, the president of the european parliament, robert matzola, writes to deutsche welle, the purpose of this proposal, which will be considered by the parliament today, is for the eu countries to jointly provide ukraine with a million artillery pieces ammunition by the end of this year, roberta matzola emphasized that the recent drone attacks on moscow cannot change the clear position of the eu after all, russia itself, after all, it was russia that invaded the territory of ukraine, this is because the grain of the agreement harms the whole world, security in the black sea is globally important, and the sea border for ukrainian grain cannot be the subject of manipulation by the aggressor country, stressed the president of ukraine volodymyr zelenskyi in his address and this grain is expected by at least 10 countries of the world, in particular turkey , egypt, bangladesh, it is obvious that the less food is supplied to these countries or regions, the higher the food prices there, the more people in all countries lose from their family budgets, i.e. blockade of one po

we previously mentioned deutsche bank. this agony and it's what we are going through. jonathon: we are going to try to catch up with the bloomberg banking team later on in the program. markets two days away from the fed decision. "in all likelihood, the message will simply be one of expect us to keep the funds rate here for a long time. if and as markets begin to bite down on that message, no cuts on the horizon, but may be some hikes, this could precipitate a stairstep higher in the yield curve." tom: we must focus on what equity pros focus on, which is the fixed income space. they have been very good with total return over the recent decade. rub it to his chief investment strategist. robert, simply right now, what are you doing to adjust for a midyear adjustment? everyone in equity land is adjusting. how does fixed income adjust? robert: to lisa's point, some people ignoring the data. some people have been zeroed in on the narrowness of tech stocks. but the fact of the matter is that on a country basis, europe and japan

we saw santander building up, deutsche bank took a few, barclays.hat is not that many -- the rest of the people that are there are looking at places throughout the history. a lot of banks are doing job cuts right now. is not an easy environment. on the wealth side is a different story. everybody from citi and jp morgan are interested in building of their wealth businesses. they might be looking to post talent. you have local private banks that are expanding and what to potentially take on the wealth bankers. that's an area ubs will not be necessarily cutting first. they are focusing on the markets, the traders, the support staff of those teams, and then they will eventually move on to other parts of the businesses. corporate functions where there is much more overlap. matt: marion broke this ubs news. tom, what is your take on the market for bankers? anyone tuning and now -- in now who is planning on leaving or will be let go, as it looks like 35,000 will be from credit suisse starting next month, they will want to know what is the market. how satur

russia department of the friedrich ebert foundation think tank and my ukrainian colleagues posa from deutsche welle studio in brussels. a warm welcome to all of you, gustav. let me start with you let's just look at the most recent developments there. russia has increased its drone attacks in recent days even during let's just look at the most recent developments there. russia the day. why is that happening? ammunition is available? we see from the wreckage of these missiles that are produced fairly recently. so basically missiles are fired as they leave the factory. russia had a slump in production because of fairly recently. so basically missiles are fired as they leave sanctions because of interruption of supply chains. but these these interruptions only hold temporarily. so there are substitution programs to use chinese electronics instead of western ones. there are smuggling interruptions only hold temporarily. so there are substitution programs to programs to kind of buy these sub components and special materials through third countries and brass plate enterprises to avoid being yes to t

enforcement officers , there were almost 250 people in the dormitory at the time of the fire, according to deutscheas evacuated and resettled to another center, night cotton in the belgorod region, there, due to a drone attack, an energy facility was engaged, the local governor , vyacheslav glatkov, said, according to him, there are no victims, as far as is known, raids on the territory of russia are carried out by fighters of the russian volunteer corps and the legion of freedom of russia, the day before who are in shibekino, where several soldiers of the russian army were captured, they will be transferred to ukraine in an exchange fund, according to the volunteers they are fighting the putin regime, the hungarian government removed them without explanation published a new video without russian crimea, a scandalous video with a call for the earliest possible peace in ukraine was published the day before in the video crimea was shown as part of russia the ukrainian foreign ministry called on budapest to stop provocations and adhere to international obligations as part of its membership in the un,

it is far from complete, it will only develop, wrote an interesting opinion on his facebook page, deutsche wella columnist kostyantyn jaeger is a russian who has not lived in moscow for a long time and now lives in lithuania and wrote so, when lukashenko is involved in rescuing a person, it means that there is nothing to save anymore, a very interesting opinion, by the way, although oleksiy danilov, the secretary of the national security and defense council, stated that lukashenko can be part of one of the groups that will work on possible negotiations peace negotiations with ukraine will include the number of people from the russian federation who will talk about peace, about the fact that this peace must be concluded on certain conditions. by the way, the german edition and the usa referring to the state tv channel ard, they wrote that negotiations on the war in ukraine could take place as early as july, and rd writes that on june 24 , international meetings were held in copenhagen under the strictest secrecy with the participation of diplomats from western countries, as well as represen

countries hungary there are separate positions that can be i literally this morning i see in the deutschewelle did it on the streets of berlin and you know that all the young people you asked asked they said we are for ukraine in nato somewhere someone of the older generation said we are there still over there well the times of the cold war we understand what is happening but they are too much and this is a transformation because 10 years ago all would have said yes no no but now they understand and they say they are also fighting for common values ​​they are also with us and this is important and what i am leading to i am leading to the fact that now there is a struggle for how to accept ukraine faster in my country and for that i would said against the hesitation so when we are looking against the counter-hesitation and to take a risk because this risk is justified, we have already taken a risk and we continue this struggle and we see that our risk is ultimately justified because we did not give up there and did not go to the will of russia and putin and we are now calling on our partne

officers, at the time of the fire , there were almost 250 people in the dormitory, according to deutscheelle, they were all evacuated and resettled to another center, night cotton in the belgorod region, there is an energy facility on fire. according to the local governor , vyacheslav glatkov, the cause of the fire was probably explosives dropped from a drone. the captured russian soldiers will be handed over to the ukrainian side for exchange, because glatkov did not show up for the meeting to pick up the prisoners and responded to the video appeal made public on the telegram channel freedom of russia earlier, the rdk and the legion of freedom of russia announced that they entered the shebekino suburb of the belgorod region of russia, according to volunteers. they are fighting the putin regime. budapest returned occupied crimea to ukraine. the hungarian government deleted a scandalous video about the war in ukraine, in which occupied crimea is not part of ukrainian territory, instead on the youtube channel, a new video was posted with a map where crimea is ukrainian, although the offici