benedikt kammel is joining us. what are you expecting?minutes but even so there are a few trends we can spot. the big trend is that mercedes has managed to maintain its dominance in the market. ahead years, bmw has been and now it looks as if mercedes is going to take them over unless something goes horribly wrong, and that does not seem to be the case. they are doing phenomenally well , their sales are up more than 10% so far. bmw only up by about 5%. a lot of it has to do with the way that mercedes has repositioned itself. traditionally are cities was a company that associated with more staid sedans and a more conservative audience. the have rebound -- revamped their product offering and that has driven home their sales. francine: what is the one thing you are looking out for? i do not know if it is margins for electric cars which would give them the advantage. benedikt: there are several things. always, who rights has the biggest overall sales. that is great. thing inlity is a big the industry and they want to make sure they are not sa

vonnie: benedikt kammel in berlin, thank you for joining us.panish 10 year yield has fallen below 1% for the first time. spanish 10 year yield below 1% now. this is bloomberg. ♪ vonnie: you are watching "bloomberg markets." monetary policy of negative rates is not meeting its intended goals. so says david woo. talks on bloomberg surveillance to talk about how negative rates are affecting european banks. >> unlike the u.s. or the u.k., europe is more dependent on banks and lenders. isthen what you end up with credit punch -- crunch. >> but the credit crunch goes to the heart of the matter. go out and raise more money and dilute equity shareholders. what is your italy waiting for? luigi: equity holders do not want to be diluted. tom: we know that. luigi: we have seen that in the united states. the question is will the government be willing to step in and force this one way or another? i do not think so. i have been trying to advocate in moving in this direction, but there does not seem to be political will to do so. >> w not? this seems dangerous