i'm david gura. >> on anna edwards.ning over health care, bob corker says he expects gop leaders to scrap the division in the bill that would affect wealthier americans. meets in themp white house. the u.s. is expected to press south korea on trade imbalances like cars and steal. yesterday, he sat with the head of the democratic national committee and today, we hear from his republican counterpart. anna: let's talk about health care still dominating headlines. gop members have an closed-door talks on possible changes as they race to have a deal by tomorrow.

i am anna edwards. vonnie: i am vonnie quinn.he president has issued a statement on the partial reinstatement of the travel ban that he has signed in an executor quarterback in march. he said "today's unanimous supreme court decision was a clear victory and allows travel ."spension from six countries i want to point out two things he said -- "unanimous up in court decision," it was not in fact unanimous. it was a six-justice majority statement. he also said that it's number one response ability as commander in chief -- his number one responsibly as commander in chief is protecting the homeland, "i am also gratified that the supreme court's "ecision was 9-0. it was not. it was 6-3. alito, and gorsuch. waymo will manage about 600 cars in phoenix. about 9% on this surge. mark barton broke the story, and he joins us from san francisco. of 600 selfeet driving cars in phoenix, it sounds hilarious, but what will be terms of this deal be? mark: it is a pretty small deal. we heard on twitter that avis is extremely loyal to the cars. they

. ♪ ♪ anna: this is bloomberg markets, imf anna edwards. -- i am anna edwards.nie: i am vonnie quinn. blue apron slashing the price range for its initial public offering by one third, aiming for $10, $11 a share. joining us with more is our ipo reporter. is it too convenient to say this is because amazon has decided to buy whole foods? >> convenient but true, another stock that has been dragged on by the amazon and whole foods deal and not even trading yet. when the deal announcement came out, a source of mine says the blue apron management on the ipo isew -- i feel that talking about how they add value to the milk it. --meal kit. this knee-jerk reaction to the amazon deal has taken heart in a significant way. if you look at the potential market value, targeting $3.2 billion as the market violation. billion.r to $2.1 a base hit for blue apron in a space that is yes, competitive, but when you have the mammoth of amazon looming, it is a bit more of an issue. anna: 34% cut in price. is that big for an ipo at this stage? a disappointment for management. >> the bigge

anna: i am anna edwards.neals report what was thought to be a done deal between sprint and t-mobile. alex sherman has more. what is the latest? alex: there's a lot of noise between comcast, charter, and possible that is the companies could buy an equity stake or outright acquire sprint. bloomberg has confirmed that sprint has been and will be in next was talks with the two cable companies for one more month. possible that thethat means the t-mobile deal with sprint will not happen if it happens at all. it was not a done deal that this , but manyen to the bu analysts expected it would happen. it sounds very unlikely the cable cubbies will buy sprint out right. even the minority stake in sprint is unlikely. the discussions have been about using the wireless networks in a similar way to how they currently use for eisen's network. -- verizon's network. this has nothing to do with m&a. it is a mobile virtual network operator. comcast and charter already have an agreement set up like this with verizon. it allows co

will anna edwards ever get back to the studios? to talk about the fed and the potential for hikes. what economists are saying about a soft shift in inflation outlooks. this is bloomberg. ♪ anna: welcome back to "bloomberg daybreak: europe." i'm anna edwards in westminster. manus cranny is in the studio. david davis is speaking right now. , theys that george osborne former chancellor, is wrong to say that may is a dead woman walking. that is what he said yesterday morning on the bbc. david davis going on to say that tories will not be adopting dup policies. we will see what demands dup makes. for the moment, let's get to hong kong. juliette saly has your business flash. juliette: business optimism in the u.k. economy has plunged after theresa may's conservative party lost its majority in parliament less than two weeks before brexit talks start. a survey of business leaders showed 57% are pessimistic about the prospects of britain's economy. the institute of directors says that is higher than when the country voted to leave the e.u. u

let's get to anna edwards. anna: thanks, guy. good morning, matt. you mentioned the latest polling.e had another poll overnight that said the gap between the tories and labour are only 1%. the message is the polls have been narrowing for a couple of weeks. let's get a pollster's expert view on what is going on. good morning to you. what is your take on the latest? we haven't had anylet's get a pe saturday's attack. is this going to have a material impact? >> we can't know until the polling is back at my thinking is it probably won't. if you go back to manchester early in the campaign, saw a small increase in the gap in favor of conservatives over the weekend following that. that is understandable given the government monopolizes the news immediately after these things. they are the people offering solutions and can explain the details and things. even then, the cap went from 5% to 7%, then back the following days. gotten back on the offensive with things where that was different the other time around. maybe but i don't think so. saying terrory events always lead to better performanc

anna edwards is in westminster. anna: thank you. we will get to some of those great themes in our conversations this morning. we will have a conversation about financial services and what it wants to see for the next government. us greatic has joined to have you on the program. let me start from asking you what you want to see from the election. on the face we have jeremy corbyn who likes to talk about greedy bankers, theresa may who wants to say that brexit means brexit and is talking tough on immigration. you thing any -- do you see anything the banking sector gets excited about? miles: it is clear that whoever gets into power, we will make sure that the economy continues to work. if you look at trade surplus we generate more trade surplus than trade surplus generating parts of the economy. we generate sound at one billion pounds worth of tax revenue from the financial services element of that ecosystem. article issue is making sure that is understood i whoever comes into parliament. the role of the industry plays understood and i

anna edwards is outside the horses -- houses of parliament. let's start with the upa. at can we expect from this? anna: good morning to you. as we have been saying, the du p -- it was a pre-brexit party during the referendum last year. at the same time it has been campaigning to keep open the border between the north and the republic of ireland. that is going to be crucial and a way of doing that might he staying in the customs union, which has many wondering if the party will soften its stance, but that would be a big change in policy compared to what the conservative party have been going for. to tom with the university of liverpool and he suggested this was an important matter. one of the things threatening the good friday agreement. that gives you an idea of the scale of challenges faced by trying to bring these parties together and get the kind of brexit they want to see. corporation tax, could that be a focus? by europeanlow standards and northern ireland wants to compete with that. could they be allowed? or flowd be investment into money into belfast and beyond,

anna: and i'm anna edwards in westminster. good morning.his was always going to be a week where we focus on the u.k. story, the u.k. political story. today we do that with an attitudes of sadness, given the terror attacks over the weekend, the third in just three months in this country, and we are told that five other attacks were foiled within that period. this is a time when we were going to talk about the election. politics is very much at the fore. political reaction to the events at the fore. we need to check out what's happening in the markets, reacting to the u.k. political story, and reacting to the news out of the gulf overnight. manus: absolutely, they are front and center. this sterling market is a classic barometer we use, fairly immune to the terror attack over the weekend. sterling will run at the bottom of your screen, 1.2869. i thought what we would do was turn to the politics. at one juncture we had a 20 percentage point differential between labour and the conservatives. this is what the market will focus on. the last time

i am anna edwards. and i am manus cranny here in london. , what a spectacular pew hours we have had. let me show you the map. ofs is the personification change, as corbin said, politics has changed, and by gosh, the landscape of the british isles has changed. look at that, north of the border, we turn blue. there is steep -- their seats to both thehe snp labour and conservative parties. at the moment, we have a hung parliament. 306 seats for the tories, 20 left to declare. we have an election special for you. anna is outside parliament. guy johnson is on market reaction. matt miller is at the heart of it all on the trading floor. anna, let's take it straight to you. david lee, you have spent the last half-hour with him, he says we are looking at another election before the end of the year. i cannot take another one. anna: i know, i think we have had that from two guests this morning. we have not worked out the results of the first election, and two guests talking about another election by the end of the year. let's stick to what we know so f

i'm anna edwards in westminster. manus: i'm manus cranny in london. the question is of course, today is a critically important moment for the union. i am talking about the democratic union party from northern ireland meeting theresa may today. this is the linchpin of forming good government. anna: yes, indeed. can theresa may get those 10 mp's on site? she will need them if she wants to get her more controversial policies through parliament. northern be seen in ireland as a once-in-a-lifetime opportunity for northern ireland to influence the policy agenda, perhaps taxation and investment, and also influence the brexit conversation because they also wanted something that could be seen as a slightly softer brexit in terms of keeping open trade relations and keeping open the border between the north and the republic. we will talk all about that. we have a great guest to talk to us about that. theresa may, focusing in on this d.u.p. meeting, after that mea culpa yesterday, where she took responsibility for the mess that was created around the election. ma

let's go to anna edwards. going on there and listening in in the house of parliament, we're waiting for the queen to deliver the speech but let's remember, this is not a speech written by the queen. she does deliver the speech with pomp and ceremony but this time, it will be a parish down experience with the clashes taking place. the queen is talked about a somber mood. for clues as to what brexit will look like. the depth of legislation that will make to go through the house of commons -- we have to prepare the way for exit. that is why they're opening up to two years of parliament with the speech. we are looking for clues but we might not get any. francine: let's listen to the queen. queen elizabeth: as the country leaves the european union. my ministers are committed to working with parliament. to build the widest possible consensus outside the european union. forll will be introduced the community act and will provide certainty for individuals and businesses. this will be complemented by make sure the unit

let's get to bloomberg's anna edwards, who is at westminster. out this terror attack and how it could have changed the results on thursday? anna: we will have to wait for the latest polling data to get a sense of whether it changed anything. butaw the polls narrowing, it is unclear whether that had anything to do with terror attacks, or a policy u-turn around social care from the current government. we will wait to get more information there. it seems both sides, conservative and labor, have get growing, trying to tourity concerns to stick the other party and make their party look better. the labour party has been suggesting that theresa may has a record. maybe she should have done more. ino pointing out, the cuts policing we saw under the last administration. francine: anna, i read john schindler in "the observer" yesterday on the size, the scop e, the scale of this disaster. what does "enough is enough" mean to londoners? when the prime minister says, "enough is enough," translate that. anna: it is a tricky one, tom. she went on to set our four

. -- anna edwards. david: i'm david gura.'s get a check of the first word news with mark crumpton. mark: the supreme court giving president trump a partial ban.ry on that travel a limited version of the ban will go into effect and will hear arguments on the case in the fall. clarence thomas, samuel alito, and neil gorsuch said they would have let the entire fan take effect immediately. and a statement released by the white house, the president says the court's decision "today's ruling allows me to use the important tool for protecting the nation's homeland." the supreme court has refused to consider loosening restrictions on carrying guns in public. the justices rejecting an appeal by gun rights advocates in california. they declined to carve out new constitutional protections for firearm owners outside the home. in london today, the british prime minister theresa may has reached a governing deal with northern ireland's democratic unionists. she needs the party support on key votes after her conservatives lost a majority in p

tom: anna edwards, thank you.ll have ,onversation with benoit coeure a wonderful economist. let me run over to london, as francine is in frankfurt. joining us is the right guy at the right time for everything going on in europe. james bevan is in the investment business, where he worries about multiples and valuations, but he also links it into our political economy. can you do that this morning? is there any dampening effect on gdp because of the political uproar on your side of the ocean? james: when i look at the u.k., i anticipate that it is likely the agenda is more populist then reform. so not the heart agenda designed to deal with supply-side inadequacies. the composition in the uk's materially worse than the united states. and over to senate seat -- and over dependency on services. indicated that this was what she was out to sort. frankly, she will not get the mandate to do that now. tom: i want to go into the real estate business. the best place to go is london. look at pound sterling. this is brexit in t

let's get the latest from westminster and anna edwards. good morning. meanwould a du.u.p. deal for the u.k.? anna: it is crucial to watch the conversation with three set may. there is no certainy that we will get a deal today. this is a party with just 10 mp's, only propping up with a conservative government in london. no doubt they are critically aware of this once-in-a-lifetime opportunity to wield some power over westminster, man something many in northern ireland would seek to drive benefits to northern ireland. what are the implications? investors are watching the conversation about brexit. the d.u.p. has argued for an open border. how do you have an open border and at the same time, leave the customs union? that might not be possible, so do you decide to stay in the customs union? that might not be possible if you want to guarantee the control over euro tarade policy. this is one of the key questions. the d.u.p. also wants to have a conversation around taxation and investment into northern ireland, and they don't want any checks between those traveling in northern ire

julia: that was anna edwards reporting. looking at the economic backdrop with which these brexit negotiations began. it is a look at the u.k. city surprise index. waye indices measure the the data is coming in relative to expectations. of 2016, the economy perform better than expected in the immediate wake of the vote. it did not seem to hurt until we got that big green mountain there. lately it has turned negative with that comment from george soros, the u.k. starting to feel the impact. ,hat real wage number last week inflation decreasing take him pay for people. so some economic stress we have not seen a well in the u.k. julia: george soros says it is a lose-lose proposition. up next, mexico's finance bloomberg in an exclusive interview and why the central bank may start cutting rates by years in. from new york, this is bloomberg. ♪ >> it is time now for first word news. lawmakers in scotland could be given the separate vote on theresa may's brexit legislation that could add a new layer of complexity to the prime ministe

let's get back to anna edwards inistments were -- westminster. anna: i am joined by joe kleiman. you on the program. the queen's speech, we are looking at a number of levels. the domestic agenda. she is going to have to throw out a number of the more controversial policies. >> that is right. grammar schools are gone. preschool meals. that is gone. and of course social care. a hugely controversial issue that led to a collapse in for conservatives. that has been thrown out. we are here to talk about counterterrorism and infrastructure. brexitn emphasis will be . this is a two-year queen's speech. it is designed to cement the negotiations that started this week. about the exit, we are going to hear something about that. there are huge variations in the level of granularity with could get in his speech. either we get a lot of detail or very little. we don't know which we will get. queen was to sit there and say brexit means brexit, that would be viewed badly. instead, what the government wants to achieve will be set out to some degree. the granularity remains to be seen. what can be

. >> i'm an -- i'm anna edwards straight welcome to "bloomberg markets, the trump economy."id: the illinois budget impasse, the state races to reach a deal by midnight it if that's it's not happen, illinois would have no budget for the third straight fiscal year and instead could be rated as junk. the white house prepares a decision on steel tariffs sparking concerns again of a trade war. anna: welcome to the program. acta the big story this week, the senate health care bill. negotiations continue. there is still no deal as we approach the july 4 recess straight president donald trump tweeted, quote, if republican senators are unable to pass what they are working on now, they sh

for more, anna edwards is live in westminster with the guest. anna? anna: thanks very much.new that this was going to be a big week for u.k. politics, when theresa may called the election. the events of saturday night changed the tone and the topic of conversation around the selective security, bringing it to the fore. but there is a business conversation, with brexit on the horizon. with that in mind, let's bring in our next guest. i am joined by the ceo of the eef, a body which champions u.k. manufacturing and engineering. thank you for talking to us. the tone of the election has changed quite a bit. we aren't hearing as much about business as we might have expected. a lot about security, though. having said that, there have been attempts, it seems, to reach out to business a little bit more in the last few days. is that something that happening?have seen are you hearing a more positive tone from the may government? and i thinke that, it has improved in the last couple days. i think this conservative government is pro-business. i have witnessed that myself. some of the mes

anna: i am anna edwards. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories we are following on bloomberg and around the world at this hour. rocky end to the second quarter and the big rotation to finish so the month. money pouring out of technology stocks. off its biggest rally on a rosier sales outlook. plans to the company's sell on amazon and instagram. z drops his first album in at 4 years on black -- backget to the markets with abigail plus -- abigail doolittle.

am at a -- anna edwards.a are three at a more reassuring poll for the conservatives. we covered this at the last hour, it has been developing through the hour. no doubt we want to get back to that end check out the markets and how they have been performing. the sib, the single resolution fund in europe has 's shares andopular capital to santander. depositors, itts says that popular will operate under normal circumstances. the most important line there are about rejection of depositors, this is around the santander so acquires popular. it may consider and it is correct. it is a bigger share sale than anticipated. santander might consider an 8.5 billion share sale. they are going for 7 billion euros worth of capital to fund the acquisition of banco popular. srb, the purchase price, the single resolution fund for banco popular is one euro. will get back to madrid. the size and scale of santander's capital entries. -- increase. a bit ofew chairman, news for anglo american. we have stuart chambers coming in as the

i am anna edwards. and i am matt miller in berlin.g at european car figures that are breaking right now. new car registrations in the eu be moreng 7.5%, 7.6% to exact. i have a chart appear on my screen showing the exact numbers and the moving averages, which are important because last month we had a drop of the .6%, now we will have a bounce up. the moving averages show that car sales have rolled over in the eu. it looks like, although we had a positive number, things to go downhill from here. anna? anna: we will watch out for the story around that. let's talk about tesla as well. -- tesco as well. u.k. sales are up by 2.3%. one point 9%.as getting some commentary coming through from the company. they saw a small improvement in inrovement -- in performance europe. it seems to me, the overall comparatives sales numbers came in below, but if you look at u.k. sales, they seem to have performed pretty well compared to those estimates. let's have a quick word about the broader estimates. we have a snapshot here of where we are on futures.

let's go straight to anna edwards. eems a lot of investors are putting out research in the event of a hung parliament. tell us about the latest polls. anna: yes, indeed. the latest polling we got overnight. what is interesting is the legwork and field work for this poll was conducted after the terror attacks from saturday night and it gives you a glimpse of whether that has boosted the results for the conservative party. it remains the same and 43% in this opinion poll, putting them seven percentage of points ahead of the labour party. we still see that overall trend from the recent polling for a tightening of the conservative party late, although various of my colleagues at bloomberg are talking increasingly about how the fact she is campaigning in those strong brexit areas suggest they are hearing they can win some of those areas, and maybe the polling is not so tight. tom: that is right where i wanted to go, anna, on leave ver sus remain. how are the candidates approaching those two large groups anna: the conservativ

and annas cranny edwards is on assignment.n equities are higher alongsidedraghi is ben bernanke. let's have a look at the futures and we are seeing a slight oilieve in sterling and the maker and a small recovery after five weeks of butchery. dealing with issues of nonperforming loans and setting with the european inflation data a little later this week and it will set the tone for the markets. you have the technology higher and there is a red headline coming through. let me just bring you this. pounds and 7 billion this is a change in the united they have the there ist vehicle and one of the largest chains here this state of play is on dealmaking. european equities are rising and oil is getting a recovery. we have had the biggest monthly drop since july of last year. and you a supply issue still have the lower dollar. this is the lowest in 10 months there are more than 3 million residents here in the u.k., but we haven't seen a run like this since june. the bank of england is having a live meeting. what does it take to turn di

anna edwards, down in westminster. anna: thanks, guy.le above us, i am joined by the labour m.p. john, thank you for your time this morning. your reflections on tonight, do you consider this a win? >> no, we wanted to form a majority labour government. it is not an overall success, but if you look back, we were in an interview three weeks ago where we were over 20 points behind in the polls. people were talking about a complete meltdown for the labour party and a landslide victory for the conservatives. that.e overcome i think we have had some considerable success. however, we are not in government with the majority position. we are offering ourselves a minority government. i don't think the prime minister's position is tenable. the party, should they have the right to go first, to make this work? john: let's start with the prime minister. i just cannot see how she can continue on. leadinga number of conservatives, boris johnson, on maneuvers. anna: they should be given the first was to form a government? john: i don't think it is a stab

let's get to bloomberg's anna edwards in westminster.ving the beautiful english weather this morning. give me a sense of the polls, anna. it seems the conservatives want to talk about brexit. labour wants to focus on security. anna: absolutely. the conservative party are dispatching boris johnson to the northeast of england. anybody who watched the results come in overnight on the brexit might will remember the role played by the northeast of england, typically a very labour leaning part of the country. they are dispatching boris johnson because he was a leave campaign or. he will be in charge of delivering the message because the tories think only theresa may can get brexit right. they want to move the attention back to brexit and labor want to talk about welfare payments. we still have conversation about the aftermath of the attacks. what did police know about the attackers? mean, i: the polls, i know you spoke to somebody from yougov earlier on. how confusing are the polls? do most pollsters think theresa may can win this? anna: the p

is anna: joining me edwards and matt miller. let's begin with you. the nuts and bolts of the last 12 hours and how it shapes things going through the weekend. anna: absolutely. it's good to see you. it's a failed strategy from theresa may. electionthe lack -- that never needed to happen. it was to strengthen her hand and she failed to do so. have 318 with only one seat left account. she has failed in that sense. will she remain in the lead? when we look at the timetable that lies ahead, she goes to the queen to seek permission. as you said, that is a formality. how stable will it be? seats, there the is some casual cooperation going on. how stable is that going to be when you need 320 62 habit majority. then go to the 13th of june and the 19th of june. this assumes she makes it this long that she does not face a leadership challenge. there will be leadership challenge is waiting in the wings. let's look at the trading floor. let's bring in matt miller. when the headline drops on turned to somee of the market participants and asked them if you get a hu

anna edwards joins us from westminster. what are we learning about brexit? anna: partly about substance and partly about tone. the prime minister theresa may saying she will work with anyone in any party in the national interest. an extendingike other hand to other members of the house of commons to work with the government rather than against them on the subject of brexit. is it a tone change or something more material? we will wait and see. brexit dominated the queen's speech. the queen talked about the special relationship with europe, the tone again. the government was setting out 8 bills around immigration and trade. all of that could be pretentious next week when we get a vote and beyond. i will quickly interject. there's something obviously missing. maybe you can explain what that was. .nna: thank you a couple of things missing on the domestic front and international side. on the domestic front, some policies were a contentious during the election campaign around social care. it lost its majority, therefore does not confident it can get those policies

i'm anna edwards. i'm david gura.enator bob corker says he expects republican leaders to scrap a provision in their health bill that would repeal attacks that affects high income earners. the tennessee republican said the decision to retain obamacare's 3.8 percent tax on net investment income would help republicans boost subsidies for low income americans. the remarks came after several senators began to question whether the bill should be repealing so many taxes on wealthy americans and the legislation would scale back's exit -- subsidies for the poor. entry revised ban denies from six predominantly muslim nations that do not have existing u.s. ties. approve aprove -- relationship with those already in the u.s.. it takes effect tonight at 8 p.m. new york time. popee in australia charge francis's financial advisor with multiple sexual assault efficiency. -- offenses. official in his ex abuse scandal. he was taking a leave of absence, proclaimed is in a sense, and looks forward to clearing his name. >> these matters ha

. -- anna edwards.hreeas been just over hours or so since we heard from prime minister theresa may. she made a statement outside number 10 downing street, having been to see the queen to ask permission to form a government . in her statement, she talks about the government she would warm would provide certainty for the u.k.. onesrvatives are the only with the means to form a government, but the conservatives have failed to get a majority in the election. the only way for them to govern is to form a coalition. she talked about an agreement reached with northern ireland's democratic unionist party. it is not clear quite yet what exactly sort of agreement that is. it looks like it might be a bit more of an informal coalition than what we have been seeing between the conservatives and the liberals back in 2000 10. theresa may also talked about security, fighting extremism, and fairness and opportunity. ultimately, she said this government and this arrangement which has been so far formed will push ahead wit

. ♪ anna: i am anna edwards. david bank i am david gura. mark crumpton.k: president obama said health care will does president trump said health care will be -- presidental trump said health care will be "really special" if they can get it done. president trump: it will be great health care at a reasonable cost. we get rid of so much and a lot of the taxes and all of the bad parts of obama care. it's essentially a repeal and replace. mark: senator leader mitch mcconnell postponed a vote on health care until after the fourth of july recess. nine republicans said they would not support of the legislation. microsoft analysts and police tracked the cyberattacks to a ukrainian company. the ukrainian police say a software update on woodley contained -- unwittingly contained the virus, it started in europe and reached asia. pay $300 are told to in crypto currency to unlock a computer. nicolas maduro calling a helicopter attack on the supreme court a thwarted terrorist attack and an attempt to remove him from power. it was stopped and no one was killed. it follow

anna edwards, bloomberg news, london.ine: from policies and electric vehicles to a measure that would allow -- and electric vehicles to a measure that would allow -- it's maintaining and attracting the best tech talent for their workforce. i sat down with rogers agarwal -- rajesh agrawal. rajesh: we have made it very clear that the european citizens already here -- they are londoners to us. they have contributed significantly to london's economy. it's absolutely the right thing to do that they are given permanent right to stay here. >> the london mayor, sadiq khan, has been talking about immigration deals. rajesh: london has benefited significantly from this amazing talent pool. to be honest, when london does well, the whole country does well. we are the economic engine of the u.k. because we produce almost, 1/4 of the country's gdp. when london does well, the whole country does well. i hope there is a solution to this. if not, then we will look at some interesting ideas that have been tabled. caroline: what sort of inter

anna edwards is a preview.ear after the -- key events on the brexit timeline, talks day-to-day with the brexit minister and the chief negotiator staff starting this week. the session will focus on how the talks will be structured and moving on to the right of do you citizens living in the u.k. after brexit and those britons living on the continent. and the queen's speech on wednesday, since this party will set out if a legit -- its legislative agenda for the year. the official opening of parliament, the date had to be pushback because of talks with conservatives and the northern irish union party over forming a government because the conservative lost its majority. they need northern islands support -- ireland's support. the rivals labor party leader jeremy corbyn will put an amendment to the queens speech and urge party to back it. the ireland party can get them what they need for their agenda. they will be watching clues on brexit. will they see any change in tax on the joint manufacturing pledges that they c

anna: and i am anna edwards.mberg markets." ♪ vonnie: from bloomberg world headquarters in new york, here's the top stories that we are following. the u.s. supreme court revised most of president donald trump's travel ban. the potus agreed to -- the scotus agreed to hear arguments. senate leaders are expected to release a revised version of the health care bill today. waymo's selfor driving vehicle service has agreed to deal with avis. so we are halfway into the trading day now, and julie hyman is here with the latest. julie: we now have a mixed picture going on. as we speak, it of war from everything else.

. >> anna edwards joins us from westminster now. great to see you.ard a little bit from queen elizabeth ii there. but he you make of the comments on brexit? -- what do you make of the comments on brexit? >> thank you. the commitment we heard there from the government, they must have confidence. let's get some analysis now. i'm joined by sam from the smith institute here with me. overlooking westminster. very good to see you today. what do you make of the comments? leaving the union to put that kind of trade policy in the queen posse's speech today? >> they have said again and again they will not leave the union. the manifested to the northern iron -- ireland people, they want to have the single market for the only interesting question is when. it is not clear we will leave the day we leave the european union. some people might believe it is more wise to go through a transition time to slowly engage. >> even if it is on the same page, we don't know because we have not seen any details of any confidence that they have come on the even if they are same

anna: i am anna edwards.loomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world that we are following today pit the senate health care plan loses more republican support. e look at senate majority leader mitch mcconnell's efforts to save the bill. under cyberattacks putting across europe and hitting major companies. we look at plans to protect you make and steel industry an exclusive i interview with johnhairman of nucor, ferriola. we had economic data today an individual stories. julie hyman is here to tell us all the important stuff. julie: we have the imf cutting the u.s. growth forecast on the economic growth.

anna: i'm anna edwards, out in my sister. until the u.k. voters go to the polls.ocus remainsthe on the aftermath of the terror attacks. diplomatically, we see the fallout of trump's tweets. that continues to be the focus. plenty to talk about, and the latest polling figures, but manus, we have to talk about the aftermath of the qatar-saudi cla sh. absolutely, we some money flow out of some of those equity markets. the question at 7:00 a.m. today, is will that continue? let's pick up on the narrowing in the lead in the polls? have you taken outlier risk position? you have slower services. what would a labour victory mean for the gilt market? this is a couple of different opinions regarding a minority government, led by labour, what that could do to the gilt market. as it managers sol -- asset managers solt gitllts and bought treasuries. you go all the way up to 1.7% on a minority on coalition, 1.4% to 1.5%. the conservatives maintaining a smaller majority, that would also be a bullish move for the gilt market, taking it down to 0.9%. this is something the market ha

on bloomberg radio, anna edwards and myself. one year on from brexit. where are we?? auction on your bloomberg sums it up. these are live pictures from the summit taking place. we still do not have any idea what britain really wants from brexit. as the leader's filing, we will get more commentary and bring it to you. this is bloomberg. ♪ francine: brexit vote anniversary. an unclear brexit plant. is uncertainty the new normal? theresa may says e.u. nationals can stay in the u.k. a detailed plan emerges monday. jumping the first hurdle. 34 of the largest banks operating in the u.s. clear the fed's stress test. this is bloomberg "surveillance ." sincexactly one year on voters in the u.k. w

i'm anna edwards. let's start by talking about oil. it's been very topical in the last 24 hours.rent dropping below $45 of arrow, now in bear market territory. what does it do to all the central banks? oilstocks are reliant on revenue. let's talk about where we been on the inventory story. too much oil seems to be the basic headline. we are stuck in his air market. crude inventories slid last week , and that's what you see in the blue at the far side of this chart. but inventories remain above their five-year average. 100 million barrels above the five-year average and u.s. production is at its highest level since 2015. opec is aware of this, according to our grant. consensus is difficult. radar and at the risk you will see that it looks a little strange if you're expecting the oil story to be rid large across markets right now. we're expecting u.s. markets to open pretty flat. if you look at the s&p 500 energy index, the top performers , only two of them aren't positive territory so it certainly taken its toll on some of the oil companies. increasing. still also gold increasing.

anna edwards is with us. and brian as well. did we learn anything new? he told the eu 27 on friday, but really, maybe a slightly different emphasis. what was interesting, no mention of the european court of justice, but they just didn't there is an alternative -- there is an alternative. but jean-claude of the european commission, we know he has a different view. the only thing we do not know, the cut off date. she gave the same range. and it is expected to be open to be part of the debate. interesting, the tone she was using. it was friendly. that has not always been the case. we want you to say that the message was clearly directed at the 3 million eu citizens in the u.k. alix: what is your basic case for the u.k. and brexit? what we've been working at is the cost of being underweight in the u.k. they go to relieving the uncertainty. those eu citizens employed by companies, at least operating in the u.k., they need certainty as well about will the employees be allowed to stay, what type of taxes to worry about, so, and what is the incentive for those co

anna edwards and i will be taking to the airwaves on bloomberg radio.ssels will have a busy day. what are they going to be talking about over dinner tonight? theresa may is going to have an interesting dinner, i think. the question is, at the end of all of this, who pays the bill? this is bloomberg. ♪ francine: today, prime minister theresa may travels to brussels, where she could face her first brexit row with the leaders. she will outline how she plans -- salman'shammad bin anointment. he answers questions about the country's direction. too much oil. crude holds it slide. good

my colleague, anna edwards, is on a little bit of a holiday. now how do you look at the markets?tocks are all a little bit stronger this morning but how onequash a rebellious you -- yuan? another lurch again today. .itting a seven-month high we rallied by 1.2% yesterday. we are adding to that again this morning. china is dishing out a tough lesson to those who want to bet against the currency. they ratcheted up the overnight borrowing costs. it's a rebuke to moody's downgraded last week when the authorities call that absolutely groundless. what are the consequences of the , they were yuan 710.nally worth banking and let's set that. for the indexe was this, the shanghai composite a back .5%. may has been the worst month for chinese equities since 2015. the occasion of a lower contraction in the private numbers. a two-week low on the data from china. lowest since january, goldman sachs saying you will see a handle of 60's for the aussie dollar. that would be quite a crucifixion. the vicissitudes of what the polls say. interested --only theresa may, you've got to hand it to the team

joining us now, anna edwards. a confidence in supply agreement . how will it give fair in practice?hen the parties choose to go into a full working relationship with each other and the government would consist of people from both sides. we saw that from the conservative party and liberal democrats. the liberal democrats were the minority coalition party given seats at the table. this is different, this is just a confidence in supply agreement . in exchange for a few things they have agreed to vote with the government on the big-ticket items. crucially around brexit, budgets, confidence in the government, those kinds of big questions. julia: which is a problem in that we don't know how brexit is going to progress or the challenges they will face. how can they sign an agreement to back the government when they don't know what will be in the agreement? >> it's a good question. this tells us that the negotiation we see in the house is likely to be backed by the conservative already, but there could be of course rebels within the party. it doesn't tell you anything about what it looks li

i'm anna edwards. european equity markets. let's see where we plan to open up this friday.from cash trading on equity markets. not much of a handover from the asian sessions. the asian equity trading day was pretty meaty. we saw some weakness coming through in the hong kong market. we are expecting to go weaker at the start of european trading, down by about .2% at the start of the day. maybe more resilience on the cac and dax. here is where we have been overnight in commodities, first of all. this is a conversation we have talked about a week. specifically around oil. 42.93 on wti. bouncing a little bit, but we are still below the $43 a barrel mark. the supply picture very much in focus for us. .25%, upprice up by for a third day, climbing from a one-month low. let's have a look at where we are in the rest of the risk radar. futures, i mentioned we had a tepid day, up by .1% and on u.s. trade. we heard from one jet -- fed speaker, james bullard speaking with "the washington post or coke unnecessarily aggressive. getting news out of irish allied bank. looking to see where t

i'm anna edwards. manus: we brought her back in. she is allowed inside the building. good to have you back in the room. let's get out to matt miller, standing by on location. a big day for the ecb. >> a huge day for the ecb. number one, we are expecting at least 90% of the economist we surveyed expecting the ecb to change the language in its statement and no longer say that risk to growth are tilted to the downside but rather balanced. it's something we've not heard since august of 2011 when jean-claude trichet was president. for me it's going to be an exciting day. >> there were never two words so much focused on in our lifetime. we will catch up for you a little bit later. got to talk about sterling. the one that maybe just got under the radar, this is the probability of a rate hike in september versus december. what you're going to hear from the federal reserve. it's below the probability of a december hike for the first time since march of this year. , all shifting forward their view on when we might get a hike. anna: let's show you where we been overnight in the

i'm anna edwards. matt: i'm matt miller, in for manus cranny. i'm really excited to see about this china decision, but we have comments from the fed that are moving markets and there is so much turmoil here in europe because of the brexit negotiations in the middle east with qatar. anna: we will get that decision later from the msci as to whether the chinese domestic concluded to the benchmark. could it be fourth unlucky for china? this is the fourth time asking to be included within the benchmark. we have this chart here, showing the china rush. this is one example of the appetite for chinese assets. it shows appetite for a particular asia etf, listed in the united states. investors anticipating perhaps, approval, but how much does this matter? we have seen real divergent performance between the shanghai market and the offshore market, which is trading near two year highs. the domestic market, really dwarfed by some of the new technology names that trade overseas, outside of the chinese main shares. matt: nonetheless, it is still 9% of global e

let's get over to anna edwards. very good day to you. for therooted in there long-haul, you might never be back here. talk us through the changes. we are studying the ship, but it had a hint of brexit-heavy. >> let's talk about the reshuffle we saw on friday. it's conversation-worthy. it's also worth noting that the people she left and position, one of those is philip hammond and we understand that the chancellor is the soft brexit chief and he only agreed to stay on in the cabinet if he was given more say. that's interesting. he also left in place the foreign secretary, the brexit secretary, trade minister, all of those say the brexiteers have been promoted to cabinet. secretarythe justice and sacked from that position when he became a minister. she also mentioned to appoint damien green. he is going to be depressed secretary of state and he was a key remainder. you can slice and dice this many ways. theeems to be shaping cabinet around her. she has the first cabinet meeting today. think there are really amazing lines from the weekend,

thank you anna edwards, westminster. with us now is peter chatwell.on't we start on brexit here. in the u.k., it is interesting. the dup can ask for pretty much anything it wants and they are going to get it. peter: it seems like they have a lot of power. matt: how is that going to affect brexit negotiations? will there be an opening at the border? peter: my assumption is that it has to tend towards a softer brexit. what is most interesting in my view is going to be how the has the phrasing, and whether or not they start to show any signs of creating issues within the conservative party. because that is how this is going to pan out. you see, by having a coalition due with the dup, that will put strain on the conservative party, the remainders in the conservative party. problems withave it. going forward, that will be the point of weakness the labour party tries to attack. guy: the party does not seem to be pricing this in. we get a soft brexit. my question is, are we going to get a soft brexit, a pragmatic brexit? or are we going to get a really soft