matt: what do you think the bank of japan wants to continue -- but, do you think the bank of japan once to continue to support that with the weaker yen? do they feel ok with the yen at 111, 112? the bank of japan, first and foremost, wants stability. byrestled confidence introducing negative interest rates at the beginning of the year. that forced a lot of shockwaves and uncertainty both on to corporations as well as to banks. this year, for 2017, the mantra stability,y, stability and i think that is exactly the right thing to do. if you are a private risk taker or a consumer or a private investor, it really want -- really what you want to know is uncertainty or stability. anna: with the boj making no on the privatey consumption side of things, is it time to think about what we have heard from the central banks this week? the fed, not only hiking rates but seeming more hawkish than people expected. itsecb increasing conversation about exit from stimulus and the bank of england surprising this week with the hawkishness if not the decision in the end. how is it the boj needs to be mindful

you mentioned the bank of japan. e a ¥6 trillion per and i'm purchase program, which has not been touched. as i wrote, the next move down the road is probably going to be a shrinkage of the program as opposed to what an expansion or augmentation. as opposed to an extension or augmentation. you are beginning to see some distorting effects of the presence of the bank of japan's withship in the market high market cap blue-chip stocks having anywhere from 70%, 80% ownership. that is something i think people have to keep in the back of their minds that this is not a permanent presence or buyer in the market, but at some point that will be gradually withdrawn. something that is a bit like kids being addicted to candy. the bank of japan has been inside. when it comes to the leader of japan, shinzo abe is populated -- popularity is under pressure. what is the significance of that? is that a cautionary risk to us as we look at japan from a global investment perspective? headwindat is another that gives us pause for the near-te

we don't expect the bank of japan to move. there will be —0 .1% on banks. keep the tenure at about 0%. you have got really free money in japan. at about 0%. you have got really free money injapan. there is no cost to holding an borrowing. free money injapan. there is no cost to holding an borrowingm free money injapan. there is no cost to holding an borrowing. it is jekyu cost to holding an borrowing. it is jekyll and hyde. when can we see sustainability in the economy? we don't see much improving injapan until about 2019, ok? don't see much improving injapan untilabout 2019, ok? we don't see much improving injapan until about 2019, ok? we have real issues in retail coming on in 2008 in. we are still not seeing manufacturing numbers getting better. —— 2018. manufacturing numbers getting better. -- 2018. it manufacturing numbers getting better. —— 2018. it is getting better, but not sustaining. that was tony nash from an analytics company. and now we move to some breaking news on the corporate scene. fuji film has flagged bigger losses than expected from ove

move the front-end up, and it is really hard to move the back end higher until the ecb or the bank of japanoes something. think of canada, the world is moving very glacially towards normalizing policy. until you get other central banks moving, our 10-year rates will stay low. jonathan: will we continue to see a curve that stays flat? >> possibly. i want to go back to what ray was just saying -- rick was just saying. there is a lot of focus on the fed and u.s. cpi disappointment. it is not just the u.s. yield curve that is flattening. global yield curves are flattening. while we are very interested in the shift in the language and the future balance sheet robbed him of the world is still far behind. the pace of that change will be glacial. we can anticipate that at some point this should be about bringing term premium back into the market. for now the term premium is under incredible pressure because of the combination of negative interest rates and ongoing, aggressive qe in the ecb at boj -- and boj. you are still in an environment where the effect of that is a huge dampening on the term pr

bank of england did surprise everybody. three people willing to raise rates. we have a couple of guests coming on. just looking at the statement as well and what the bank of japanmy looking ahead as well. fromout 12, 13 minutes now. he's at bank of america merrill lynch. she's going to be talking about this bank of japan lack of movement, as it were. the aaib meeting, right? kicking off their annual meeting. that will be an interesting one. >> our guest joining us to have a look at all of that. there we go. that is all to come in and is couple of hours. betty? betty: that is it from "daybreak asia." our market coverage with richard haidi, that is next. this is bloomberg. ♪ ♪ it is 9:00 a.m. in hong kong. i'm haidi lun. rishaad: i am rishaad salamat coming to from bloomberg's asia headquarters in hong kong. this is "bloomberg markets: asia." ♪ haidi: japan leads markets higher, the deepest light for the yen since january. -- slide for the yen since january. rishaad:

move the front-end up, and it is really hard to move the back end higher until the ecb or the bank of japanoes something. there is something really critical. there were questions about whether they were moving bank of canada. the world is moving very glacially towards normalizing policy, but until you get other central banks moving, our 10-year rates will stay low. that is part of why the dynamic is taking place today. jonathan: will we continue to see a curve that stays flat? jeff: possibly. i want to go back to what rick was just saying. there is a lot of focus on the fed and u.s. cpi disappointment. but the points at rick were just making is it is a global market environment. it is not just the u.s. yield curve that is flattening. global yield curves are flattening. that impact is because while we are very interested in the shift in the language and the future balance sheet runoff, the rest of the world is still far behind. the pace of that change will be glacial. we can anticipate that at some point this should be about bringing term premium back into the market. now, we have the chart

compare that to what the bank of japan decided to do overnight, which they decided to do nothing. ntinue their experiment with quaubt quantityti quauntitative easing we'll be running off our assets while the federal bank is increasing the purchase of djbs. >> dennis gartman, thank you. >>> president trump is headed to miami today where he is expected to roll out a new policy towards cuba the president will likely reinstate travel restrictions to the island nation cl a senior administration official says the policy change aims to steer money away from the cuban government and towards the cuban people president trump has been critical of warming u.s./cuba relations. on the campaign trail he said obama's lifting of restrictions on cuba is a bad deal. cruise lines and hotel operators were banking on this warming of relations to open up a new market >> it's not clear beyond some political constituencies who this move is serving >> and what exactly -- how big of a move it will be >>> in other washington news, vice president mike pence hired an outside lawyer to represent him into alleged

we talked about the dispersion between the bank of japan and the ecb. of talk about to be issue long debt in the u.s.? what is much more important is quite likely where the central bank's are going to go. jonathan: we're going to answer some questions with one word answers. behind the curve or too far ahead? >> behind the curve. jonathan: european high-yield or u.s. high-yield? >> u.s. high-yield. jonathan: long brazil or long south africa? >> long brazil. jonathan: returns before yellen is out? >> no. jonathan: short or long-term duration? >> short. jonathan: chair yellen to hike three times next year, yes or no? >> i would say yes. that is the general direction. jonathan: rick rieder and the guys at black rock. this is "bloomberg reayield." ♪ ♪ emily: it has been nearly six years since tim cook to go over apple for steve jobs. he put off the largest acquisition in apple history. he is taken on issues like the environment and education. he maintains a dialogue with president trump despite their disagreement on climate change. now, as i've been sales pla

really unfortunate gdp number out of japan, looking at more data points to paint a picture before the bankg in thee background, but looking at machine orders out of japan for the month of april, there could be a slump in that month. we saw last months data -- month's data, companies tapping orders by 60%. -- camping orders by 60%. not all signs are pointing to weakness. we did see the first quarter corporate profits jumping, not enough to raise. we will see what happens. betty: we will see what happens. and we have an analyst joining us. he has called on the market the fed. we all think it will hike interest rates later this week. also says he likes banking shares. we will get more on his calls and where he sees the market. we saw a huge stumble in tech last friday. haidi: we will continue to follow the market follow from that calamitous u.k. election result. we are joined by the nomura fx strategist. he sees greater volatility ahead. this is bloomberg. ♪ ♪ >> markets are assessing the fallout from the u.k. and tech selloff, turmoil the fed coming up this week. >> theresa may embraces cons

bank of england are trying to talk up the pound? wes: i am not too sure about that. the bank of england faces the opposite problem of the bank of japanith inflation at 2.9%. i think it is instructive in how important inflation is. it is the premiere central-bank indicators weer might get from the economy. i think it is instructive in how important inflation is. and maybe kind of a warning to, right -- warning too, right? maybe a warning that if inflation goes up, the rate will, too. matt: let me ask about the damage in tech stocks. you think it is unrelated to the bank policy, though i say there are quite a few people asking tech stocksn about at the meeting, probably because they hold such a big position in equities. is this route reverberating around the world? wes: well, i have heard some people call it the tech wreck, which i think is a fun term. charts,ook at the especially on a longer-term basis, and our stock index -- it is true that stack -- tech they are still near record highs. when i look at these indexes, they still look buoyant. if people want to find something to worry about, i go back to --somedea that the fed talk tha

it gets of the firepower to challenge uber in asia. rishaad: japan's biggest bankdramatic headcounts, the worst for 20 years. mitsubishi ufj may eliminate 10,000 staff, 7% of the workforce over a decade and comes against the background of low interest rates and intensifying competition to squeeze profits. haidi: nike cutting 2% of its workforce is competition stiffens. the company had 70,000 at the end of 2016, suggesting it could affect 1400 workers. downtors sent the shares in the biggest intraday decline in almost a month. the bank of japan's not expecting, any change, but we are looking for hints as to when there on toing program may start stop. no change expected, but had to get out of this? >> we have to what is the target. there has been a change in terms of the target no longer about the quantity of buying, but 10-year jgb yields. we have to focus on this. rishaad: let's have a look at what is going on. does he need these targets? >> it is his mandate to create inflation. rishaad: is in chasing the target and so elusive as to making it look redundant almost

where is the inflation for the bank of japan? that is for the month of may.look at the jobless rate, up 3.1%, that is exceeding what economists estimate of its 2.8% jobs rate. the jobs to applicant ratio at 1.49. it shows pretty much no move on inflation. that continued frustration for japanese officials and for the bank of japan which says, where is that inflation that allows the boj to start stepping back on that stimulus? inflationtheir target, still. let's get more from adam haigh. pylon that the retail sales numbers we got yesterday, the stimulus is still not working there in japan. adam: absolutely. it is hurdle after hurdle, isn't it, the bank of japan keeps jumping over. we have immediate reaction to these numbers. it puts the context of a difficult situation with the economy showing declines here or there. certainly going to be pretty hard for the bank of japan in the discussions going into next month and over the next few weeks. this is in the context of a of a risk off day. these numbers out of japan, head of the big deflator number we will get in

eight and the response amongst the central banks around the world federal reserve bank bank of england bank of japan european central bank was to make these loans to the purple. not for a billion dollars though they made loans of over fifteen trillion dollars to the bankers in america and the united kingdom and in europe to pay down on their bond deposits that were technically insolvent remember they said a smaller insolvency problem it's a liquidity problem even though it wasn't insolvency problem so my my my point being that central banks have another fifteen trillion dollars to create in this way yes they do so that's why i don't agree that this is the time for the financial ization bubble to implode to collapse i don't think it's time yet these banks have another fifteen trillion dollars to create the european central bank. bank of japan is a never ending fountain of free cash percent interest rate so this is a way to go he does say that financialization has done some interesting things namely new york city said if you look at it the brooklyn especially all this money has redevelop the city you

not just the federal reserve, but the bank of england and bank of japan, and the swiss national bank.ross the asia-pacific, fairly mixed. next, and today's presentation at the e3 conference, whether it puts them ahead of the game. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: we begin this evening with developments following james comey's testimony yesterday. earlier today, the president responded to questions during a press conference with the visiting romanian president. the president accused comey of lying under oath to congress and insisted he failed to prove collusion or obstruction of justice. in a tense exchange, president trump said he would be willing to offer his version of events under oath. president trump: go ahead, john.

the bank of japan cannot get inflation up to the 2% level so the central bank has decided to keep its and place. the boj will maintain a negative interest rate and keep buying trillions of yen of bonds. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. riggs.ylor this is bloomberg. tom: thank you so much. one more data check, quieter data after the fed, the beer we, the bank of japan -- the boe, the bank of japan here at little bit of curve steepening, euro weaker, dollar stronger. we will touch on oil at this hour, 44.72. i do not think so much has been made of weaker oil prices through the week francine:. i think you are right and this is the big inflation story that we will get on to when it comes to central banks. global stocks rising, there is not much going on in the markets . shares in japan advancing on the back of the yen weakening. the yen briefly extended declines after the governor said it was too soon to discuss an exit plan for stimulus. we have a snapshot of what the biggest central banks are doing. tom: a shout o

the bank of japan is going to be going up for some time. f england is on hold because of the election results and the confusion over there. the european central bank, the only one that might move higher, that is not going to be until the end of the year and heavily than not -- heavily than through the balance sheet. scarlet: they have painted the stimulus is something they might consider. julia: at least having a conversation about x, at least it's something of which they are aware area mike, the market expects them to raise rates. but then there's the disagreement about what comes after that. . september hike or not balance sheet language. mike: it is a question because the fed has made it clear that they are ready to hike rates now but the market doesn't believe in the three. very for the year. the fed is going to be data dependent. sure that lisa has been following this as well. the fed has raise rates times and we are seeing financial conditions get looser and looser , but at the same time we are seeing economic data coming in softer and

bank of japan, decades. radically different to what the federal reserve is going through. but there is one thing that keeps coming up again and again, financial stability. by other tasks, we tend to underestimate the importance ,f innovation, a productivity and of growth. they are very important in informing monetary -- monetary policy. the last several, i was a 15 years, we have seen the decline and as the economy improves in the eurozone and we are entering an upswing in the business cycle , we will also see a cyclical improvement in productivity. after many years we have been subdued and that's a relatively recent negative for the last few orders we expect an improvement on the cyclical front. we have to deal more with innovation and the diffusion of innovation. clearly forceson the policies around investments in human capital that are the first to come to mind. really,ask, what is every look at something that's a very successful, what sort of today have that has led them to be successful? the professor h

the fed and the bank of england and bank of japan as swiss national bank will all meet. strategist joins us. digested itrket has without being royals in any way, can anything ruin it? >> next week will shift it's a central market policy and how much we might have in the next 12 to 18 month. the key when is the fed not just whether they raise interest rates for what they do to the balance sheet. that is one of the key elephants in the room. how they are going to be drawing the balance sheets down? vonnie: do you think there will be an actual discussion? don't think it will be a battle plan drawn out right away but maybe more hits about what they will do to the balance sheet. fedave had comments from officials but i do not think we will get a clear outline until later. vonnie: we have a broad outline or signals, but if we got something even more detailed, would that could do something to the market, what will be the catalyst to kick of this market off? alex dryden: there are three bits of information, when it will stop, when it may come to an end and how quickly it will go

have another fifteen trillion dollars to create the european central bank but of the five trillion dollars easily the bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. to she's old enough to post the system dropped in. the la la. home. in a live show so i will give it to. you. just. have to leave the most of. the barbecue for about the bride. was i don't know i might. want to sell for what they sell but oh. but to investigate police officers behavior as well. i'll take drugs and weapons and presence here. calling people as you please. here of the capacity to integrate. the refugees at the same time we cannot accept everybody that comes to all come from countries all countries have the control of their borders looks all come from us so beautiful so as the rights to control us for those. of. our own sonar. to deal tomorrow so all the balls are going to be thrown over. there with. all of the. girl is the dog or the one school and the people here are. a. leg. an american professor received death threats over a facebook post promising a compass lockdown and the la

we will hearer, from a bunch of central bank governors, bank of japan, canada . ding the central banks and maybe we will get answers. that is coming up. this is bloomberg. ♪ tom: senator mcconnell's capitol hill. an extraordinary set of events yesterday which means we needed update. guy johnson and myself need an update from kevin cirilli. take us into the hallways of the senate. litesutiful photo of ciril with a statue of benjamin franklin looking to down. what is it like in the hallways? what is the level of sweat among the cementing majority leader's team? with were trying to have a down to see if mitch mcconnell would be able to have enough of votes. the fact is, he didn't print said -- he did it. he was able to win the conservatives or the moderates. the math wasn't there. what does it mean for future policy debates going forward? guy: -- tom: it is politicians looking around and they have their hands doing the control think and everything is in control. baloney, it is about buying votes. which senator will take the pork from o'connell? mcconnel?connell -- he

really make a difference what i mean by that is, no matter what we're doing, if the ecb bank of glaengland, bank of japanhina somehow don't stop purchasing, it really gets lost. we still see yields go down and curves flatten are they close getting to the point where their activity along with our fed will tip us so we actually see some normalcy or maybe a steeper curve or interest rates that send better signals? your thoughts? >> well, we're certainly creeping in that direction and as you mention ed, the othe central banks. even the bank of japan, instead of buying 80 trillion yen a year, they're on track to buy a little less than 60 trillion they're already going through a subtle, quiet, tapering, so to speak. the ecb are going to announce some more of that the later part of the year. the bank of england, bank of canada, people's bank of china, people's bank of china is already trimming liquidity and the other banks are going to be raising interest rates they're going to test the waters and wait to see what the maerrk reaction is goinggotcha. now, let's dig deeper. some news came out today it's been a bi

bank of england meeting on thursday. inflation has been a big talker there. lastly to round things off, central bank meetings in russia and japann friday. the ftse 100 down 0.3% the real center of focus was the pound and the volatility in the uk currency. >> the pound fall on friday allowed the ftse 100 to have a positive return. markets didn't see a big fallout. the other interesting thing in europe over the weekend, the french parliamentary results and also in italy, elections in the five star movement failing to make the second round in seven out of eight local regions perhaps you would have expected european markets to do better. all in all, all these votes pretty good for europe >> on that note, bond yields have been coming down in francis and france and italy. >>> oil prices fell sharply last week because of u.s. smi dauppl data down 3.5%. the momentum today, up 0.3 for wti. 45.96. dollar up last year 0.4% not a huge movement today. a third of a percent against the euro and the yen the pound is flat this morning slightly down. still not managing to rebound after a 1.7% fall off the back of that surprise result leading to

banks out another fifteen trillion dollars to create the european central bank but of the five trillion dollars easily bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. a disturbing video emerges online of a white helmets rescue and led to the disposing of the bodies of the headed syrian soldiers. an american professor received death threats over a facebook post prompting a campus meltdown in the latest example of boiling racial tensions in the u.s. . john howard although portugal all through to the confederations cup semifinals but no such luck for russia the hosts. will bring you the goals will but you would think anything you want to know about the confederations cup will bring it to you. hello you're watching altie international with me whereas on a low could live from moscow thank you for joining us now video has emerged from syria showing a member of the white helmets rescue group allegedly handling the decapitated bodies of syrian soldiers a warning the following video does contain some pictures you may find distressing a man can be seen wearing a t. sh

so for the bank of japan, it is very much steady as she goes. >> the boj did change one thing. at was its conception of consumption. how important was that reassessment on household consumption? >> >> the comments are very encouraging. what we are seeing in japan is interesting and we are seeing other countries in the moment, the economy is doing well. we have had five quarters of growth. on our way to a sixth quarter. but we had this persistent problem with inflation. so, we need to see more happening there. there is a disconnect happening and what we are seeing is economic growth looking not too bad. executives making the wrong kind of headlines. the ge era ends and more tumult at the top four uber. >> we don't understand how the company is going to run when they have to invest on autonomous cars. ramy: this is bloomberg. ♪ ♪ ramy: this is "bloomberg best." i'm ramy inocencio. let's continue our global tour of the top business stories with an unexpected executive shakeup at ge. >> the change out of the top of general electric, they said tim finery will be taking over. explain

look at bank of japan. the sheer size of the european central bank balance sheet is way larger than these banks. they cannot afford to keep these running. he comes the patient isn't really in the hospital we see that unemployment has improved. productivity has improved. need wheno particular it comes to that kind of quantitative easing. something dog lovers can get behind. bringing their furry friends to work. tech companies in california are encouraging employees to bring their dogs. boostsy their presence productivity, relieves stress and improves the work environment. companies call it a win-win for companies and their employers. it benefits our business. our employees work longer hours because they've got their friends here. harvard medical school has published a study that proves that dog help lower blood pressure, reduce heart rate every time you pet them. where everyonent is working hard it's really nice to have the ability to pet the dog. >> back to you. >> thank you for the business roundup. time fo

outside of that, we go to the swiss central bank decision and the bank of japan as well. .cott here andet's begin with you. let's get your thoughts. the yield printed new lows and around 214, 215. it is the treasury curve for the federal reserve. >> interesting for the last month or so, bond markets have been rallying and they have been going closer to 260 and closer to 210, 220. markets have gotten up so bond yields are falling and it is making it one of them that is wrong. the fed would like to start raising rates at some point. every time they do that, there is an external issue. is not at a 90% chance. i don't think it is unusual for them to go but i think it is one and done for this year. jonathan: a lot of people say the treasury market is mispriced . is there a thing like about treasuries right now? mispricedhe most fixed income in general because of the big intervention of the central banks. 10 year treasuries, you could change the range. longer i would rather be than shorter because the equity markets are gaining to euphoric on what delivery you can get from the trump administr

another fifteen trillion dollars to create the european central bank to leverage this up but of the five trillion dollars easily bank of japan is a never ending fountain of free cash at zero percent interest rate so this is a ways to go. and that. tough. kid the. kind of. those who don't consume don't jell you've been talking to the whole joking the on the stand on the most news in that are equal in its own systems and only fools are still small for the managing don't see don't we don't see don't improve move up to those old wooden missiles assume downside acid all to. europe and the capacity to integrate. the refugees at the same time we cannot accept everybody that comes to all come from countries all countries. all come through so you. as the rights to. sell you on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battles of the stone. the new socks credit tell you that what we gossip the. most important day. off the bad guys i'm telling you on the cool enough and that's to fight their prophet. these are the hawks that we along with our loved ones. what this is they're saying is does

work through this, but it does illustrate in real-time the complications of stagflation for a central bank. ♪ >> the bank of japanntained its monetary stimulus program, saying improving private consumption will improve the growing economy. the board voted 7-2. it's inflation target remains elusive. just like for many central banks around the world. >> it is really no drama kuroda here in japan. they just want to keep everything steady, that is because ultimately, economic conditions are good. they are improving modestly. there is neither a sign of a big boom coming, so no risk of any bubbles anywhere. at the same time, you do have a situation where price pressures are few and far in between. so for the bank of japan, it is very much steady as she goes. >> the boj did change one thing. that was its conception of that -- assessment of consumption. how important was that reassessment on household consumption? >> the comments are very encouraging. what we are seeing in japan is very interesting and we are seeing other countries in the moment, the economy is doing well. we have had five quarters of growth. we are on o

so for the bank of japan, it is very much steady as she goes. >> the boj did change one thing. its conception of consumption. in a sea of other unchanged policy, how important was that reassessment on household consumption? >> the comments on household consumption are very encouraging. what we are seeing in japan is interesting and we are seeing in other countries in the moment, the economy is doing well. we have had five quarters of growth. we are on our way to a sixth quarter. but we had this persistent problem with inflation. that is the core goal of the bha at the moment to raise inflation. so, we need to see more happening there. the real problem is this disconnect in some places and what we see is economic growth looking not too bad. ♪ >> so, this has been a big week for monetary policy, and it has been a critical week in global politics as well. ramy: later, we will recap the maneuvers for theresa may after the u.k. election and the bloomberg scoop explores the scope of russian hacking. plus, emily chang's exclusive interview with apple ceo tim coo. we talk about diversi

banks have another fifteen trillion dollars to create the european central bank but of the five trillion dollars easily bank of japan is a never ending fountain of free cash at zero percent interest rate so this is a ways to go. social environment. chemical discoveries over the last century made everyday life easier but at what cost this is cereal is exceptionally sick. no wonder it's confidential. exists as the years old industrial giants reap the benefit. caused by chemical production. you know as if these people aren't people just experimental animals. the toxic environment continues to poison lives and we found these astronomically high levels of dioxin levels that my staff think maybe some of the highest levels ever found in the united states for almost thirty years this very serious problem had not actually been addressed what will that investigation into the chemical industry secrets revealed. this despicable. there's. only one person agreed to break the code of silence. that spends most of her life here near the river this is where she raised her family. oh this is where we have the zip line way back here. w

alicia: i think jgb yields will follow and the bank of japan has stubbornly, since december, put putarget. it has forced them to be more aggressive. into the easy mode. why can't you just lift that first and that interest rates fall to their natural level? 10-year jgb's. they can start with that. they don't need to taper. they don't need to scare the market. that would mean natural rates, which in my opinion, is needed. they are just forcing it down, know? i think that is the first thing i would do if i was the boj. i would not talk about tapering now. it is too early. refrainwe saw the pboc from calling the fed. do you think they can chart their own course? alicia: so they think. i think basically, they were not the first was to do qe. for reducing this massive balance sheet, they are really in uncharted territory, and i think that is why it is so difficult. anchor: great to have you as always. alicia garcia-herrero, economist. disney's $5 billion that on china -- bet on china seems to be paying off. they are breaking even after one full year of operations. that is somethingthin no

vonnie: a summer friday in june, usually pretty quiet, central banks yesterday, and today maybe the bank of japan, but volume wise did the spring investors back into the market? >> it is hard to say because volume wise as his quadruple witching day in the market. you have a lot of volume that pops. if you look at in the shares, typically when you have big selloffs like this, they are accompanied by higher volume. jonathan: -- vonnie: we are to have to wait and see until monday. oliver renick is staying with us. is the seniorst equity strategist at r.o.e. equity. laura, thanks for joining. it appears that investors on both sides are happy with this deal. is there anything to not like? >> there is a lot not to like if you are a high-end grocer, a big box retailer. for amazon, the concerns that this would be a lower returning business because the business is more capital intensive or it might slow down growth, most of those concerns are assuaged by whole foods higher margins than amazon's margins. the growth rate is going to change radically with amazon owning it. vonnie: obviously activist investor

dollars to create the european central bank to leverage the stuff but other five dollars easily bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. to she's old enough to post the she should throw in. the hot topic sit back home. in a loop oh so. you know. if you. just. have to leave. somebody. out the car. was i don't know that might go for the cell phone with a cell phone. but he investigate police officers behavior as well. l.t. drugs and weapons presence here. calling people as you close. the recent spat between the gulf states has highlighted yet another middle eastern conflict while turkey is siding with cretonne iran against saudi arabia the long running tensions between the sunni's into the open minded and create jump into the fray instead of trying to pull the strings from a distance. ballo rather. be and you'll. have a lot of. our own soner calling families allowed to be recreated today or tomorrow so it's all good their balls are going to be thrown over. there with the party i had. down there at the delegate i got. a new. girl i

it involves all the big multi-nationals, the imf, the bank of japan. .hina became involved there were china and mongolia over the dalai lama visit. obviously there are targets and they have to implement tight fiscal policy. that is where some of the concerns live. rishaad: what are the key risks ahead? >> moody's said they are reasonably good at the imf implementing the bailout. once the program ends, they slip back into bad habits. of course, if that does happen, mongolia might lose international markets, which it needs to hold onto. debt is expected to hit 98% of gdp. mongolia has to keep on track and keep a tight policy in the future. rishaad: good stuff. thank you very much indeed. the ongoing elections in mongolia and what is at stake there as well. guest says china's crackdown on overseas dealmakers is for their own good. we will discuss why. this is bloomberg. ♪ inhaad: i am rishaad salamat hong kong has we have a look at the this is flash headlines softbank's $100 billion vision fund looking for investment in quantum computing, searching for new technologies to replace current

crooked bankers is approximately seventeen trillion dollars the european central bank of the federal reserve bank bank of japan have indicated that they're willing to bail out another seventeen or twenty trillion dollars worth of crooked loans so this could go on for a while but the social cohesion risk is mounting and the violence on the streets is increasing but governments unfortunately are in the pockets of these financial terrorist like mario draggy at the european central bank. holds my skies that i'll leave you with those thoughts for a minute with more in thirty four minutes time the next live update from h.q. mosco twenty six in the morning now to choose as going to go good for us to programs coming up by the way you watch a lot international the subset of watching the hoax if you want to get out of the u.k. or all of you go larry king. what politicians do. they put themselves on the line they get accepted or rejected. so when you want to express. something. that you want to be this is what before. you get. interested. this is the coach this is an adult and. i'll tell ya i. didn't believe though so i'

the only friend we have been central-bank land is over and asia, bank of japan, for the most part nowat said, whether the central bank is supporting or detracting from demand in a given market is defined by whether they are tightening faster or slower than what is priced in. what is priced in right now for most central-bank action is a relatively gradual pace of tightening. if we generally do get tightening that is not priced in, that poses a modest problem for risk assets. i doubt it is a huge one. the issues with high-yield are really aboutif we generally do t tightening that is not priced vs to the equity market rather than direct central-bank policy. jonathan: everyone seems to be confused by bank of england policy. jim caron with guy lebas and margaret patel. let's get you up to speed on the markets. what a week it has been. yields higher by a margin of three basis points. big move further down the curve. 13 basis points. on theet back up to 282 30-year treasury still ahead, the week ahead, featuring the first meeting of president trump and putin. you are watching "bloomberg real

banks out another fifteen trillion dollars to create the european central bank but of the five trillion dollars easily bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. now your love of junk food could co see your job at least if you push it to thaw out a lesson to be learned from a recent scandal this works the cia. explains. big news say contractors couldn't steal snacks without getting caught the contractors were working for the cia developed a special payment method to steal thirty thousand more for vending machine junk food and were doing it for about six months until they got busted all in the scheme was quite elaborate going to eat the classified office of the inspector general report they unplug the machines from the net and use special blank prepaid cards to retrieve the snacks for free wow so a cia contractor was annual salary ranges from about sixty thousand to one hundred sixty thousand dollars had the desire to go to such lengths putting their careers on the line all to eat free junk food at the office the social media couldn't resist. and the fun

bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. if you she's old enough to post this isn't girlfriend. the law i still. live. in a live show so i'll give you. this if you. just. have to leave the last a few somebody. took a barbecue at the bar. was i don't know i might. want to sell for what they sell but oh. but gee investigate police officers behavior as well. i'll take drugs in the west against the presence here. calling people as you please. video images online of what some ledge to be of what helmets rescue and disposing of the bodies of beheaded syrian soldiers. american professor. received death threats over a facebook post. and the latest example of racial tensions boiling over in the united states and now warning you may find the following images distressing. plus with fewer than one hundred days to go before she fights a general election chancellor angela merkel publishes a personal aide to said of all things german.

crooked bankers is approximately seventeen trillion dollars the european central bank of the federal reserve bank bank of japan have indicated that they're willing to bail out another seventeen or twenty trillion dollars worth of crooked loans so this could go on for a while but the social cohesion risk is mounting and the violence on the streets is increasing but governments unfortunately are in the pockets of these financial terrorist. draggy at the european central bank. this is alex international coming up after the fear in the philippines these days as squads roam the streets that join the president's ongoing brutal war on trucks. here's what people have been saying about rejected in the senate just pull on. the only show i go out of my way to. really packs a punch. is the john oliver of america is doing the same we are apparently better than. the c. people you've never heard of love jack to the next president of the world bank so. send us an e-mail. with manufacture to send to the public well. when the ruling classes protect themselves. with the flame of. the room sick.

banks add another fifteen trillion dollars to create the european central bank but of the five trillion dollars easily bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. i. think i. got off today's show talking about our lord and savior amazon. she's been busy. amazon is buying the mecca of organic stores. today announcing it is rolling out something called amazon wardrobe so joining the box party that may feel like the online retailer is pretty much taking over your life your t.v. screen your shopping your reading and even your home have no fear pokes it's only taking over your life in your home. amazon has brought breathtaking a fish and sea to consumerism right it is also brought breathtaking inefficiency to consumerism amazon is incredibly convenient for all of us and it is the worst thing to happen to us since the bottom play. it's like of the one at play it got infected with steve bannon when. it came down. those statements that i just said are true and yet they conflict right there a paradox and it makes your brain want to punch itself in the face and ye

banks out another fifteen trillion dollars to create the european central bank but of the five trillion dollars easily bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. the recent spat between the gulf states has highlighted yet another middle eastern conflict while turkey is siding with cretonne iran against saudi arabia the long running tensions between the sunni's. into the open wanted to encourage jump into the fray instead of trying to pull the strings from a distance. and i welcome back now your love of junk food could cost you your job at least if you push it to thaw that's the lesson to be learned from a recent scandal those rocks the cia on things my girlfriend says santiago explains . big news say contractors couldn't steal snacks without getting caught the contractors were working for the cia developed a special payment method to steal thirty thousand more for vending machine junk food and were doing it for about six months until they got busted all in the scheme was quite elaborate going to eat the classified office of the inspector general report

crooked bankers is approximately seventeen trillion dollars the european central bank of the federal reserve bank bank of japan have indicated that they're willing to bail out another seventeen or twenty trillion dollars worth of crooked loans so this could go on for a while but the social cohesion risk is mounting and the violence on the streets is increasing but governments unfortunately are in the pockets of these financial terrorist like mario dragging at the european central bank. talking of money is there's a more of my accident mexico next and so over there as today's cars report zooms in on inflation and the cryptocurrency. bellwether. of a lot of. our own so nerd calling from. bill tomorrow to solve. it with. the dog school and the people here living your creator does lego book. people with stories to tell. the tale so deserve to her. insight. it's still illegal substance. abusers. to see first and since. they're here to speak for you there to hear. i see i don't want to see you come out still at the same time past. those terrible you know. we need to move to the cloud. computing movies. for the middl

we also have a swiss central bank decision and the bank of japan as well.d to break it down, let's begin with you. we look ahead to the fed and get some thoughts on that. 10 year yields have printed lower in the last couple of weeks, 2.14%. is there a message in the curve for the federal reserve? >> jonathan, interesting the last month or so. bond markets have been rallying. 10 year treasuries work trading to $2.60 when trump was elected. now it is equity markets have $2.10. gone up, so bond yields falling, equities going up, one of the two is wrong, and the fed as well. the fed would like to start raising rates. every time they start to do it, there is an external issues stopping them from doing it. the market is pricing at a 95% chance they will go 25 basis points next week. i don't think it is unusual for them to go, but i think it is one and done for this year. jonathan: i have heard a lot of people said at the treasury market is one of the most mispriced markets on the planet. is there anything to like about treasuries right now? mispricedt is a most -

bank of england with five votes on those who want to raise rates. what does this mean for risk assets? there is a shift. get the bank of japan mention that. cameron: we have been in an environment where we have had a massive fail of monetary policy. on the market, it is less supportive. ring theean we will bell and everything will go wrong? not necessarily, but the odds are not in their favor. >> we said it five times already and i said it, this word of normalization. isn't that a loaded term? what does that really mean? cameron: listen, we are at negative real fed cycles, which is abnormal in the grand scheme of the history of the united states. that is not regular. the neutral real fed funds rate is also lower than normal, which we have to take into account. it.that is the gist of we have been very negative for a few years now. --'s get somewhere let's let's get some were less negative. >> can we get into your scary data gesture again? actually, you can. my wife has told me to quit using my hands. [laughter] >> sorry. sorry to cameron's wife. >> thank you very much. >> nike is announcing layoffs at a reorganization. that i

another fifteen trillion dollars to create the european central bank to leverage this up but of the five trillion dollars easily bank of japan is a never ending fountain of free cash zero percent interest rate so this is a ways to go. but. the. kids are. not. going on in. those who don't consume don't tell you that means i can do it on joyful dealing with the single on the most room in that are equal to two inches one to one equals instance me going to. consume don't we don't see don't blow. up to those wooden as a solution. to all the sitting on. my . computer. a disturbing video emerges online of a white helmets rescue and legibly disposing of the bodies of beheaded syrian soldiers as. an american professor received death threats over a facebook post approaching a campus lockdown in the latest example of the. joining racial tensions in the u.s. . who show no one although portugal all through to the compressor russians cup semi finals but no such luck for russia the house. we'll bring you the goals will bring you opinions in fact anything you want to know about the confederations cup we'll bring it to you stephen.