allianz then offered a compromise. a spokesman said, "we're sorry if there was a misunderstanding over what mr. barrera's policy covered and as a consideration are issuing a refund of his travel insurance premium." the barreras were pleased with their $151 refund, but still disappointed, and still out close to $3,000 for the airline tickets. elia: we thought the insurance was supposed to cover us. chris: so, we made one more phone call. we contacted american airlines. when we explained the barreras' unique situation, the airline made an exception, and it refunded the $2,700 they spent on their tickets. in a statement, american said, "we were glad to assist the barrera family. we wish mr. barrera a speedy recovery, and look forward to welcoming the entire family on a future american airlines flight." juan: yeah, actually, we are planning it. chris: the barreras will try again for mexico city late this summer. they say they'll pay for it with the early $3,000 that telemundo 48 "responde"-- juan: [speaking in foreign lang

lucy macdonald is cio of global equities, allianz global investors.mberg markets european open" is up next. manus: if you're traveling to work, you can switch from tv to radio. we are live on your mobile device. rising.stocks the british pound to stands out for me this morning. anna: a little politics in there. will there be 48 mps calling for a leadership change. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. watching "bloomberg markets european open." i'm guy johnson. hurricane warning. the payrolls will be affected by harvey and irma. is the market out of position if the number beats the low expectations? fights or flights?

he is a global strategist at allianz global investors.history does not repeat itself, it might rhyme. poetic justice. we will discuss the 30 year anniversary of black monday, next. i remember those days. ♪ matt: welcome back to "bloomberg markets: european open." i want to quickly check on how equity indexes are doing across europe are now. if you take a look at the stoxx 600, the broader european index, you see a drop of .2%. the ftse down a little bit more. the dax unchanged, as is the ibex in madrid, interestingly. very little changed in madrid. let me bring your attention to what happened in america. the u.s. stock market thoughts biggest single day drop in history. fast-forward to today, and the industrial average is trading time,23,000 for the first and some market participants are questioning whether lessons have been learned. if you take a look at this chart , i had to give credit to david ingles for bloomberg into. #btv 483. it is worth taking a longer look at the big red drop you see on the left side of your screen. it was black

weekend on saturday rb leipzig lost a buyer for a second time in a week they went down to nil at allianz are they not a crushing loss for the rebels coming just three days after that defeat on penalties in the german cup the reigning champions though it was another successful day by in munich they are on top of the bundesliga table for the first time this season suppressed. the match day ten conversation continues with a focus on byron's return to the top of the table and you know now that biron have the top spot are they going to give it up for the rest of the season i mean very difficult to predict funnily enough they got the top spot after one of their weakest performances i think the thing that you punk is has done has he's turned this team around when he came in they were five points behind or one another three points clear so i mean he's done a good job of what he's done very well as a tactical approach right so they completely surprised leipsic by beating them with their own tactics i mean they pushed high they pressured them they made to make mistakes very very high up. in the pi

joining us is lucy macdonald, chief investment officer, global equities at allianz global investors. you for coming in. as i was saying earlier, over in asia we saw this sharp rise again on the nikkei in tokyo. again, rising for a 14th straight day. it's best winning strea k straight day. it's best winning streak since 1961. what's behind this and is a correction due any time soon? it's playing catch up with other asian markets and other markets around the world and it has been a very strong year for all equity markets. so, what we're looking at to see how long can that continue. volatility is extremely low. valuations are quite high and we are going into the earning season 110w we are going into the earning season now which will be distorted by some of the hurricanes that we have seen. so, there is potentialfor a little bit more uncertainty as we go through this next couple of months. and at the same time, you have got politics in the background which is a lwa ys politics in the background which is always got a potential for... politics in the background which is always got a potent

of the ways to achieve that is to start thinking about my parade's as a buyable solution also the allianz should start thinking about alternative sources of energy such as like solar power or wind power and drift away from oil and gas as sources to power its electricity demand. so ok do you think this is what puerto rico needs to move to renewable energy sources and smaller scale grids that can be disconnected so that it doesn't affect the whole island. i think that's a huge part of a part of the solution to what's going on or go right now in part because what we've seen is that one one one power line going down ten thousand people can lose power maybe more one color panel goes out that's not the same so not only is transforming transforming the great a real chance to make the system more stormers only and to make energy cheaper in some cases but it's also put a lot of people back to work which can go to addressing some of the longer term crises like what are we going to dealing up so i mean the biggest challenge we have is that in the u.s. we are going it's actually in the opposite direc

. ♪ haidi: let's pick up on our conversation with global strategist at allianz investors. asked 10 different china watchers about their views when it comes to what chinese economy is going to do, and you get 10 different answers. what is your take, given this theme of centralization, of continuity, of the party at the core, and this upending of any expectation that we are going to get more western model reforms for the market? where does that leave an international investor looking at china? neil: as i said before the break, i think most global equity investors significantly underweigh china. i think we are expecting more of the same. we think the anticorruption campaign is very popular. clearly that allows president xi to encourage investment in china, and diversification of that investment in china, rather than seeing money leave the country like we saw in 2015. we think he will continue the ring in improving -- samet in thing in improving the manufacturing sector, diversifying the services sectors. one thing that does not get mentioned in china is -- so long as he keeps

joining us now from california is mohamed el—erian, chief economic adviser at allianz.ed is we have had a significant increase in the stock market, low financial volatility in the context of significant global fluidity. that is what's unprecedented. how do you explain not disconnect? three factors, first the market has responded well to deregulation coming out of the trump administration, and the hope of tax reforms and the hope of infrastructure. second, we are in the midst of coordinated synchronised global pick—up, led by europe and the emerging world that are now healing just like the us has been healing, and third let's not forget there's an enormous amount of liquidity coming into the marketplace every month from central banks to these three things together have disconnected financial markets from the fluidity elsewhere. is some of that feel—good factor down to what his promised on tax reform, getting rid of red tape? and if those sort of things don't happen, does the bubble burst? the markets have embraced the hope of tax reform and infrastructure for good reason

allianz --id nato discrepanciested over russian military exercises.t mobilized fewer than 13,000 troops. some you and estimates suggest 40,000 troops -- u.n. estimates suggest 40,000 troops took part. differing opinions on whether the attack in niger could have been averted. texas senator ted cruz sees no significant measures that could have prevented the ambush, while pointed to anthal shortfall in intelligence and overhead reconnaissance support as potential factors like troops caught offguard. the government is expected to release its final batch of secret files linked to the assassination of president john f. kennedy later this afternoon. today's releases in keeping with the law passed in 1992 for full disclosure pertaining to the november 20 2, 19 63 murder. scholars of the assassination nearly unanimously agree that the president was killed by lee harvey oswald, who they say acted alone. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. we have more r

u.s.ng us now is mona, investment strategist at allianz global investors which oversees more than 500lars in assets. probably the best decision is the least of investors's worries. when it comes to the backdrop do any have the potential to make this market stumble? mona: i think this week we have two major pieces of news coming out. first is the federal reserve chair, which president trump has said will, on thursday. our best guess is powell will be the winner there. him,e case that it's not that i can't is taylor or yellen, that could be a potential market moving news. betting on indicate 82% chance of powell. we think it makes sense. trumpa new pic and donald as indicated he wants to have his own people. he is in favor of deregulation. yellen has indicated she wants to keep the dodd-frank regulation in place. powell has said he wants to take back some of that regulation. i think that's favorable from a trump perspective. you want deregulation. scarlet: we think it's going to be favorable for the markets. with detector for could be favorable for the markets -- we think caps off want

jamie george scored three of sarries four tries at allianz park, the last securing the bonus point.course record. hatton has become the first player to successfully defend the title. great britain have finished the world gymnastics championships with two medals after claudia fragapane added a bronze to max whitlock‘s gold. going in the women's floor final, commonwealth champion fragapane rebounded from an error at the start of her routine to confidently dazzle in the rest of her display. it's her second world medal following bronze in the team event in 2015. carolin garcia has overtaken britain'sjohanna konta in the race for the last place in the end of season wta finals. garcia beat the new world number one simona halep to win the china open — her second title in two weeks. konta is taking a couple of weeks off with an injury — and must then reach the final of the kremlin cup to regain her place at the season finale in singapore. the men's final in beijing was won by world number one rafael nadal who demolished nick kyrgios to win his sixth title of the season. the spaniard won nin

the big name dominating the but i think of this week heikki is back in business environment fans at allianz arena hoped he would get their side back into gear. hike is led by the ultimate winner with his return to the club out of their current days or what opponents freiburg get in their way and that's not the only big story this match day eight will check out mint with a high scoring table toppers prepared a warm welcome for rb leipsic in their must win top tier battle the black and yellow is not so new kids on the block both thirsty for three points who prevail. welcome to the bone as they go and d w i'm chris harrington take it personally are you any with all the wonderful people in stories that make the games so special. for all.

big name dominating the but i think of this week heikki is back in business in bahrain and fans at allianz arena hoped he would get their side back into gear. hike is led by the old.