banks. cut barclays, hsbc and others after the brexit vote but they fell by so much they are regaining a little bit of ground. tom: let's go to the bloomberg. surface of famed ovd sterling. what this shows on busy axis is axis isty and time -- z volatility and time. there is a massive bet toward weaker sterling. it is rare to see this much of a curve, a smile, or a smirk right here on this bet. the message here is a huge bet, a one-way bet toward weaker sterling. francine: interesting because i chose something similar. basically this is the correlation. britain is grappling with its exit from the eu and the 30 day correlation between the pound-euro exchange and the europe stock 60 has reached the strongest since before the introduction of the single currency in 1999. tom: we have done too much mathematics in the last minute and a half. can we all go home? francine: let's, we have not had enough sleep. is -- when you look at these currencies and the easingity that they are a little bit on the

banks, not only bank of --land, which is up to the all the other major central banks cooperate in order to face up with the challenges. i have no short-term anxiety. francine: if you were still head of the ecb or any central bank, would you press to have activation of swap lines or a blanket of safety, or would you wait until next week? be, ifchet: if need there is a real liquidity problem, which would be confirmed, of course the central banks have all the weaponry necessary to cope with it. they can take decisions rapidly and swiftly if necessary. i don't think that we have to , whichquidity problems would be taken seriously by the central bank. the problems we have are more medium-long-term. both in terms of real economy in the u.k., in the rest of the world, in europe, and the political problem, which is very big, gigantic in the u.k. not only because the prime minister leaves, but because scotland might leave too. of course we have the repercussions on continental europe. francine: what do you think is going through the minds of central bankers? draghi, butand mr. actually it is gov

swiss bank. ubs in red. deutsche bank, john cryan running deutsche bank right now. it is not only u.s. banking versus european banking but a real theme today is the new wants of the european banking come all of them under great stress. francine: we will get to banking in a second p it it ties with inflation and it ties with yield. this is a nerdy. the blue line is the cost to protect against u.k. inflation. it's exceeded 2% in one year at 100 for basis points, that is the highest point since 2014. brexit is stoking risks on u.k. inflation banks. we can talk politics, the need for stability. speakingay still saying she wants to be prime minister of this country. there she is, the home secretary laying out a plan. how she would renegotiate with the eu. joining us, we are pleased to , theme howard davies chairman of the royal bank of scotland. great to have you on this ominous day. overall, what are you looking for for for statue -- looking for for financial stability? howard: the bank of england wa

biggest bank, the german bank, falling to its lowest level on record.e bank shares at 12.97. the price target they have for deutsche bank. 12.70 ondown to concerns that investment banking will be slowing. the lower interest rate are not good for bank profits. those don't seem to be good for bank profits. don't want to contradict anything mario draghi would tell you. caroline: of course, governor doesn'tlso saying he think they are feeling the knock from negative rates. 600, it isthe stoxx the worst performer. into dig into the worst -- a chart now. the new anchor for bloomberg markets: middle east. the erosioning with profitability today. it is being hurt by the bond yield. to be on air. i couldn't wait to get my hand on the terminal and start playing around with that. what a week we have had with the government bonds. the flight to safety. there is more to this story. you have investors looking to escape the negative yield. longere jumping towards maturities. they are pushing the rates down on the further end of the curb. -- the curve. a whole iss flat

banks. seen convulsions on the markets and the boe is trying to provide liquidity and stability. tom: you showed me that headline bailingy about italy out the banks. his mark carney doing that in italy -- in the u.k.? michael: what is striking to me is the amount that banks are requesting and the amount the bank of england is allotting is not that big. there are big stock declines which may indicate some trouble down the road but nonperforming loans have not ramped up for u.k. banks. so far it does not look like anybody has capital problems. they may have liquidity problems and that is what the issue is. u.k. banks have been made much stronger since the financial crisis and it is banks in places like italy that we have to worry about. francine: we have seen of course in the last couple of minutes this bid that bankers have a new year to fear. 2008 is a way of putting it very simply. in the last couple of hours many of these british banks recouped losses but over the three days they have been

banks. have a third of more than one trillion euros. these low long-term rates do not need to go much lower down to already be a key issue for the banking sector. francine: as promised, this is a chart i want to show you. the u.k. ten-year and purple. in white, it is japan. japan have been going lower. didier saint-georges stays with us. we will be talking currencies and a little bit about the japanese equities. how the week is been for the u.k. banks. we'll bring you coverage from hsbc's mr.nce where flynt is due to speak. ♪ francine: welcome back. let's keep with the u.k. theme. -- the eu single markets in the wake of last week's exit vote. let's get more with stephanie baker, didier st. george. stephanie, thank you for joining us. did ea, thank you for sticking around. he have any authority left? what is he likely to say? stephanie: if he is convening an emergency meeting which includes executives from across industries. easyjet, techrom sector budget -- tech sector representatives. not a

banks are global banks, unicredit.ou sort of have a tipping point in banking but as i said, i think that before the real crisis and panic and all the stops are pulled, there is more to be done and the interpretation is always to post bond problems. that is a perennial problem in banking. alix: no easy answers but something has got to get done, that is what we can all agree with. professor, thank you very much. up, bill gates talks about investing in the world of biotech. this is bloomberg. ♪ alix: this is bloomberg , i am alix steel in the heward packet -- in the heward packet -- heward pack led -- you do not want to miss this interview with jes staley. this is bloomberg , im david westin. i want to bring you up-to-date on a developing story. this is live at andrews air force base. there is at least one report that there is an active shooter on the base. we are told they are on lockdown and we do not know what is going on. this is a very famous location is this is where the phrase it flies -- the president flie

♪ francine: the bank of japan.he yen surges against the dollar and the central bank leaves rates unchanged. the june hike as possible exit clouds. it will intervene in the fx market if needed. is expected to keep rates on hold. the traders are pricing in at a 25% chance of a cut next month. a slowing in growth may not be all referendum-related. this is bloomberg "surveillance." i am francine lacqua in london .ith tom keene in new york there is a lot in the markets. the havens are under pressure. the yen at 103. we need to look at the banks, as well. tom: more than i expected 12-hours ago. this has been a massive adapt and adjust to the pageantry we saw yesterday afternoon at the yellen press conference. i don't know where to begin on the market interdependencies right now. it is an extraordinary morning. francine: i know you are looking at swiss. we have a great interview with this was -- with the swiss national bank president. let's get to the bloomberg first word news with nejra cehic. nejra: investigators found

those are corny banks. here the credit side when you look at the opportunities in the british preferreds, they're nil. you don't make much money at all. the stocks are wrong or the credit side is wrong. the credit side is always smarter than the stock snide what you bring up and the reason we're focused on these banks in particular, if there is going to be a real systemic problem this is where it would be, why investors have been focused on those banks, that you've been watching the percentage -- i mean, listen, barclays has to be worrisome. huge presence here in the u.s. many people, of course, get that equity investment bankers and the likes, former lee man brothers, barclays behind that, and that hurts people's pocket booxs and deutsche bank, big u.s. operations or credit suisse, so many of them. this is the road people have to go down. now as i said on friday as you and i will say, who knows. we just don't know the path here. the unknown, the uncertainty that may keep a lid on some activity, may create

representation, bank bank boards and others have cyber expertise. i would hope your mood for today. almost lightly on my question my question to the issue around what happened at the new york fed that was through the swift system. that's evidenced by the cyber attack and it has some challenges nervously important to the international banking machine. does the new york fed for the overall veggie feel like you have enough ability to work with swift to increase their cyber protections? >> we are part of an oversight group for swift. it is led by the national bank of belgium and many supervisors from different countries participate in that group and we also participate in that group. swift in the new york fed are working with bangladesh. >> but this will be an area that will exponentially grow in importance both in terms of the fence internal expertise and ensuring that we are working more closely with the overall banking industry to the game. i want to make sure get the others. a number of us have talked about how we generate additional job growth. one

bank investment. of london. the markets reopened. they resume the slide. after a weekend of digesting, a lot of politics. david: yeah, it doesn't look like all the time off did not enough -- did not do enough to calm investment jitters.

. -- banking sector.ce will be beast -- will we see in the banking sector this morning? ♪ you guy's be good. i'll see you later [ bark ] [ bark ] bye. see ya pal. ever wonder what your pets do when you leave home? [ laughing ] aw you cutie pie. aw. aw. aw. aw. [ barking ] [ washing machine running ] party's on! know what your pets are up to with xfinity home. xfinity. the future of awesome. see the secret life of pets, in theaters july 8th. guy: welcome to "on the move." we are caps on you down to the european equity market open. i am guy johnson alongside caroline hyde. she is over in berlin. signs of stability. the selling stocks and the pound of 50 is called higher. is it time to buy or double down on those shorts? david cameron has to brussels to see his european rivals. --l the speedup negotiations will he speed up negotiations?

we have the bank of japan, the ecb, and a bunch of other central banks.at before. what that is doing is driving an aggressive search for yield. in the very near term with people getting concerned about brexit and people again beginning to question the veracity of the recovery in the u.s. given the payroll data, we are seeing this again. what you are now seeing are some technical levels being breached. now that the u.s. 10 year yield has gone below 1.70, the likelihood is we get another surge in those markets. again, the game changes. francine: will germany go negative? it seems like it has been accelerating this push into lower and possibly come into negative over the last couple weeks. if it falls into negative very rapidly, what does this tell us about risk-taking? >> will germany go negative, the honest answer is, who knows. if you look at the volatility markets around bond markets particularly in the u.s., the extra ordinary thing is they are not present much when it comes to the brexit. given that the polls are basicallya a dead heat, it is a coin to

bank. oliver: right, ecb. scarlet: both, really, right? mr. schomer: you see how well have prepared central banks are. this is very different from previous crises. it is something central banks -- markets should be happy about. central bank's are stepping up to reassure investors they are there to stand behind falling equity markets. i think what the bank of england is doing, obviously looking at its own economy. with the ecb is doing is a much more preventative move against rising yield spreads in countries like portugal, greece spain -- countries that would be at risk if there is a wobble in confidence about the european union or the eurozone. i think this comment about expanding the pool is not so much designed to deal with a shortage of bonds, but designed to potentially skew the purchases toward portuguese, spanish, or greek bond yields. in fact, don't even by greek bond yields right now. maybe this is the first to include greek bonds, and that would be positive. scarlet: they would be

bank. and at the very least they must have enough to reach a quorum and conduct its business. i also want to thank my three colleagues for their tireless efforts to get the ex-im bank reauthorized last year. the legislation to reauthorize was carried by the senator from north dakota as well as senators cantwell and murray, after republican obstruction caused it to lapse for the first time in its 80-year here. what a shame it was that it lapsed. the ex-im bank is one of the key tools in our toolbox for supporting and growing manufacturing jobs across the country. we talk about increasing good-paying manufacturing jobs. both sides of the aisle do that regularly, and then when it comes to supporting the ex-im bank, one of the best tools we have, they obstruct it, they vote "no," and now they have found a clever way to stop it from working, because it won't have a quorum. the ex-im bank provides necessary financing for come to stuck manufacturers to compete with foreign companies that are heavi

some interesting effects on bank s. how much does this put you off banking stocks?ess in europe, then in japan. areus the boj, banks extremely important in europe. if you look at that, it is given by the banks. it could be more bullish, bailey because it is more bullish on the euro. we think some financing in the periphery, when the pr's have been helpful. it still seems fairly small. for now, let's call it a volatile sector. strongoo difficult of a conviction. as you then get the increases, we can start doing better math on what the banks look like. then it will become more interesting. inave been playing with -- europe and northern europe to handle the banks. don't want to be overly exposed to the financial industry. spice.pe, you get more need tou mentioned you be bullish on the banks to be bullish on the economies in general. when do you think you can be bullish on these banks? when can you call it bottom, may i ask? everyday we hear, we can you headlines about banks reducing headcount, and everyday day we see italian banks moving limited down. in europe especia

banks eat the european banks' lunch. so this could be an epic market share grab over three to five years for the banks. the u.s. banks have already been pushing for more market share, so that's a big factor. the other factor, please don't get this lost, thursday night we have results of part one of the stress test. so based on that the u.s. banks can absorb multiple brexits and still have strong balance sheets. earnings at risk, absolutely. downward revisions can be coming, but the balance sheets you're not going to get capital raises. the dividends are safe. you take a 3% plus dividend yield at a wells fargo, they can only pay that dividend after assuming a scenario like the global financial crisis. i love the bank balance sheets in the united states. >> but all that doesn't make bank stocks go higher. that's really the issue. banks can come out of ccar and say we're going to raise dividend by whatever percent or however many pennies a share, that's not going to offset the pain in decline of share. how do you justify to

the banking zone is one of those., false perhaps, that the italians would come up with a solution before the brexit vote itself. that was in plate before. they have hatched a plan fairly quickly. the important thing is italy heaping interest rates on the floor, the most important thing to keep the loans in check and obviously try to get to recovery. an importanthave referendum actually in october. david, thank you. chief european columnist at jefferies. markets not doing great but not doing badly as somewhere expecting. we would startht off with this wonderful function. look at rain. 0.03 percent on friday. it set a record 12 point three post exit. reboundseen a small after the election result which elliott was just telling about but generally i'm going to press the button to give you an idea. we are seeing declines across the benchmark. sweden, 6% lower. ireland, down 4%. onembourg, norway could see or 2% lower. the krone is the worst performing currency against the dollar today followed by the pound which i will com

could hurt a lot of the banks. all this happening at the same time, so you can pick and choose any one thing. is notu put it together, surprising that investors are skittish. scarlet: in the meantime, minghella -- coming up, conagra .oods the company comes out with earnings tomorrow. this is bloomberg. ♪ scarlet: i am scarlet fu. "what'd you miss?" is overhauling the company. so far, investors like the results. shares of conagra, which are in white, have outperformed the s&p 500 in orange. one measure of profitability still needs work. these are operating margins. while improving, conagra trails its peers. the move to shed the private label unit and an ill-fated merger and scan off a division should bolster those margins. that is just the beginning. management is open to further asset sales to focus its portfolio. could all be on the chopping block. he is also bringing down costs. his goal is to reduce annual costs by $300 million. these initiatives and adjustments to promotional spending, conagra has improved his

economies, but all of the central banks, including the central banks of china and india, of course.ery much that the response is, yes, we stayed. francine: talking about all the central banks in the world, who has the most difficult job right now? yes.richet: i'm sorry. yes? i was asking you who has the most difficult job of the governors? mr. trichet: oh yes, i'm sorry. they all have a very difficult job, obviously. get it to be launched. it is not yet launched. the fiscal problems are dramatic. i would say mark carney has the brexit ahead of him and it is really one of the worst possible situations, i have to say. if the people in the u.k. say we want to leave, it would be dreadful. i would say the ecb has a lot of problems, that is obvious. and janet has also to cope with a situation which is obviously difficult because, again, the normal functioning of the economies of the u.s. and the others, if there was not accommodating policies, if the $4 trillion were not still in the balance sheet of the fed, then the counterfactual would probably be very bad. you see all central bankers

saudi banks.at? what is the risk? guest: we are just entering a very significant slowdown. the cost of risk that the provision level is low. over 150% ofos are npl's. that doesn't give you much comfort. provisioning could spike quickly from current levels. you start seeing that long growth is out of wack with composite growth. rates,rt seeing cyber the guidelines from salman -- not to lowball your submissions, but spiking as well. wcrs. what i have is this gives you performances on .he tadawul it is energy, real estate. there are some pretty appalling performances. hotels and media. are we going into a new phase in terms of the banks underperforming significantly? guest: they are going to be quite lackluster. pretty it is already gloomy. from that level, there's not much upside. manus: that is a fairly gloomy outlook. stay with me, we have more to get through. we will hear a little bit more from him and you are watching bloomberg markets middle east. setting the trading agenda for dubai and the re

banks than european banks. they have head winds and also currently the brexit pressure, there is a number of banks in the uk that might create a contagion on european banks. >> how much less healthy are european banks compared to the u.s. >> the trend of the earnings in european banks is very negative. we still see european banks far from being good invest opportunity at this point. look at a flexion point to get back to the sector. we far prefer insurance companies in european financials because europe insurance names tend to be more cash flow generative. and find more yield and attract opportunity in that sector. >> aren't the insurer, along where the pension funds, aren't they going to be greatly impacted and suffer from a brexit. >> so we tend to reduce currently, but we still have a wait as we still have a number of names, again, strong cash flow generation that can handle the current stage. >> with regards to some of the nonperforming loans, the bad loans we're looking at, especially when glancing at ital

capitalism good for or for rural america as we see small banks combining with eger banks and bigger banks. my question is, do you see a problem with the process now of banks?ion on our small if so, what are we doing about it? we are heavily focused on trying to find ways s andlieve community bank our tailoring of our provision risk is asuit the core principle for us and proper supervision. effortsmade meaningful of ource the burdens examinations on community banks, to reduce the complexity of capital requirements that they face. we are taking that process seriously and we will come out with meaningful proposals for relief and we are looking at amething that might be significant simplification of the regime for those community banks. important.cation is are you happy with where the fed is right now? ms. yellen: we will continue to focus on it. sen. tester: do you think it is not a good thing across the board? the regulatoryk issues have contributed to the consolidation? i think there have been a number of factors that have contributed to it. this has been challenging and profitability is i

it will be a prophet for the bank of england -- process for the bank of england.hank you for joining us. david: talk me through. what has the bank of england already announced? given the warnings from mark conte, did he have to roll back a little bit? guest: i think what he has done is come out with a very measured word. there is money available for liquidity. they have 130 billion pounds worth of capital. but the bank of england will not hesitate to act. they are channeling mario draghi in terms of this event. and in terms of what you have seen in the marketplace, the one thing that is interesting, we are in a political vacuum with the resignation of david cameron. one thing you can be sure of, the man running that institution ran the bank of canada during a crisis. governor conte, he took the bank of canada through a tough time and he stands ready. that is what will drive the decision-making. and goldman sachs already setting -- saying that they will cut further. when and if the governor decides to get into the market, it will be very different from 1992, it wil

bank? >> a custody bank is one that handles transactions for other customers. >> very important. important to the banking system, is it not? >> yes, they are. >> we certainly are a winner that they are concerned about the supplementary leverage ratio impacting their profitability the balance sheet assets, for safe assets in banks large quantities of safe assets. it can be a burden and it is something that we will monitor but this is the way leverage ratios have always been imposed against all of the assets based on the overall size of the organization. >> thank you mdm. chair, thank you for your participation. i know it's been long, but thank you for appearing before the committee. the committee is adjourned. [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] [inaudible conversation] >> this hearing with janet yellen wa

bigger banks combining with the bigger banks. so is there a problem with the process of regulation on the smaller banks, and if so, what are we doing about it? >> we are heavily focused on trying to find the ways to releave the community banks of undue burden. tailoring the regulation and supervision systems to pursuit of the proper supervision. so we have done, i think that made very meaningful efforts to reduce the burdens of our examinations on the community banks, and to reduce the complexity of the capital requirements that they face. the gripper process we are taking seriously, and coming out with meaningful proposals for relief. we are looking at something that might be a significant simplification of the capital reregime for those community banks. >> i think that simplification is important. are you happy where the fed is right now in regards to the community banks? >> we have made progress, but we will continue to focus on it. >> and do you believe that the consolidation in the banking industry particular is applies to -

how would you expect the bank of england to respond beyond providing liquidity to the bank? that balancing act was highlighted in the minutes and that point in time, one has to take the view that the risks to the economy are more important than any transitory push higher that comes from the exchange rate. the last point i would say on that is the government would probably switch from saying nothing is going to change and then not talking up the economy, but downplaying the risk and pushing out the timeframe that it would take. if we get a clear result and the answer is britain is staying and the european union, than see a sharp reversal what we have seen in the last four or five weeks? will, not onlywe that but what we've seen on the swiss franc and the yen, sharply reversed, and initial move up to 148. quite as much a percentage move on the swiss franc. reaction is the ground will be changed, not as much as would have happened with a brexit scenario, but the political ground has changed and that will be the next thing we look at and the degree to which the data shows, we se

banks and european banks and british ones are operating on different timelines. as our monetary policy. all these things i think causes a lot of confusion and really one of the reasons for better or worse the u.s. market has been a haven. >> a lot of attention at least from where i sit, wilbur has a better perspective has turned back to the process, deliberative process within the uk. boris johnson will not run for prime minister. rest of eu is not interested in negotiating directly with scotland at this point which in a sense seems to me takes some pressure off spain, france, germany saying not exactly the right thing to do. you guys deal with your internal politics yourselves and then we'll see where these things fall. i mean we're looking more at the fall before we have more finality to how this working out. >> for more, we're joined now from london by former british finance minister, former uk shadow chancellor who is now at harvard kennedy school of governor. thank you for joining us this morning. >> good afternoon. >> do you share the view of mark carney th

banks has an overdone.m not sure the recession is likely, if there is one, that it is likely to be that dad, and the rest of the stock market is not really telling you that. you asked questions about what the city of london might he come, banks, shares in general. began terms of regulators and politicians that would help you fear what rbs may cut -- maybe come in the next few years -- >> good at leveraging to the markets. in the case of rbs, we made the decision that we would essentially be u.k. vocus. some of the issues about the status of capital markets in are of less importance. significantly less importance to banks like us. they continue to be able to use the passport and the rest? it is bigger for them is for us. tom: i want to cut to the chase. economics with a regulatory background. what will italy do about banks. nothing -- nothing compared to the italian banks. i know you will not badmouth the time they. foresee as the process of the italian government to bail out the industry? >> it is clear the

the europe stoxx banks index was down 13%. are banks over reacting to this? >> i guess we're slightly more cautious on the banking sector. we still think there is potential for more adjustment to come there and our concern is very much this kind of policies we've been using post crisis aren't the ones to solve the challenges we've got. so more cheap money doesn't solve --. >> thank you very much both for joining us this morning. pleasure to have you with us. >> if you are just waking up. breaking this morning, the uk voting to leave the european union. >> i still can't believe it. >> it is shocking. >> i still cannot believe it. >> it is shocking. we were sitting here how many hours ago talking how the markets were pricing out that risk. the betting odds. pricing out the risk. even the polls showing a substantial lead for the remain camp. >> not just on the 24 hour time frame or 12 hour time frame. on any time frame i look back on. three months ago, one year or my whole lifetime, this is unbelievable the development. and also of course it has led to the resig

and what did day custody bank verses a retail bank? >> because the bank manages the transaction is very important to the system and we are very aware there are concerns about supplementing them leverage ratio -- ratio. they are normally intended to be a backup form of capital regulation they are not oriented toward a risk of assets for the balance sheets with the minimal amount of space is required for all assets so those that oppose -- have large quantity of state assets it can be a burden and something we would monitor but this is the way leverage ratios are imposed against all of the assets over all sizes of the organization. >> madam chair thank you for your purchase a patient to know what has been long but the explorer appearing before the committee. we are adjourned. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations]

for which a bank. -- for deutsche bank. even morgan stanley got conditional permission to boost its dividend 33%. the u.k. home secretary and former mayor of london will today make their pitches to succeed david cameron as the conservative party leader. the bank of england governor mark carney is stepping up to face the brexit crisis. he will speak to members of the media later in a message of reassurance. global news 24 hours a day, powered by 2600 journalists in more than 120 news bureaus around the world. this is bloomberg. caroline? caroline: thank you very much indeed. when talking about the pound, it remains at 30 year lows, but sterling rallied slightly after european leaders called for an orderly british withdrawal from the block. afterpoke in brussels taking the historic step without the u.k. for the first time. >> before we receive official announcement of the u.k. wishing to leave, no negotiations can take place. >> we have made it crystal clear today that access to the single market requires acceptance of all fr

the bank of england relies a long time ago that banks had been willfully undercapitalized in the run-up to the crisis and theed to build up to serve economy in a risky and uncertain world. haveeforms that followed been an but the capital requirements of our largest banks now 10 times higher before the crisis. moreover, the bank has stress tested our banks against scenarios far more severe than the country currently faces. in fact, our 2015 stress test entailed losses twice, two times, those experienced during the global financial crisis. thets meeting last march, ftc included the risks around the referendum was the most significant risk to financial stability. it is because we took those risks seriously in advance that the bank was able to draw on its supervisory expertise. as a result of all of these actions years ago and actions in the last two months, u.k. banks have raised 130 million pounds of capital and have 600 ilion pounds of high quality look at assets. , in order to support market functioning, the bank of england continues to stand ready to provide 250 billion pounds of addit

banks usually do the opposite.d basis, so they are the first in line when there is a bankruptcy because banking should be conservative when you lead money -- lend money. they also usually do it on short-term, five years, three years, not 60 years on a subordinated basis. they are sort of going crazy there in japan. rishaad: we do have some breaking news out of japan. a couple of lines from the chief currency board. juliette: that is right. chief currency strategist baking to reporters in tokyo. they have discussed the fx question with the boj. they are still very concerned about this fx volatility. basically saying that the bank of japan, the ministry of finance, and the fsa discussed holding meetings frequently. they had a good discussion with the boj and are still discussing and watching developments with situation. also saying that volatility is rising and financial markets and more strengthsee coming through in dollar-you next week ahead of the brexit vote. rishaad: we have these bond yields hitting these recor

don't just bank. bank human.this developing story out of oakland following the nba after he fell from a second deck during a fight with another fan. thirbn happened after the game finished. the 20 year old is in the hospital right now. no word yet on what started this fight or if any charges will be filed in this "!%zaccident. i'm angie goff from the live desk. chuck? >> thanks. coming up on 4:41 on your monday morning. a pleasant start to the day. temperatures in most of the nearby neighborhoods are in the mid to upper 60s right now. not too bad at all. going out for your exercise, get it done as early as you code orange. poor air quality today. if you're respiratory sensitiveñ asthmatic, limit your outdoor activities. we'll be mid 80s by lunchtime and most areas will be in the 90s. shorts, t-shirts and sunblock are necessary to be outside today. afternoon high up near 92 degrees.g"bgy rain chances going up for dildine at wtop. >> we're watching and we're waiting to see what kind of íkeñ impact the metrorail su