manus, gv ceo. thank you so much for being here. bill: thank you for having me. toly: you are hand-picked create the venture capital fund in 2008. you have limited investing experience, no clout in silicon valley. how with those early years like? shared was sitting at a office space, sitting next to a corporate development intern who happened to be the founder of instagram. at the time, we were trying to figure out what we were going to do. i was certainly not picked for my clout or experience. in part, my lack of experience has led us to develop a sort of unique model. emily: the story goes that you were going up and down, knocking on doors, trying to get people to take you seriously. career has been a progression of not being taken seriously in volunteering for jobs that i was not qualified for. saying,irm to firm here's what we are thinking of doing, and some took a seriously, and gave us great advice, and still do to this day, and some litter the last. laughed at you? bill: i will not name names, but they probably are not laughing anymore. it seemed out of th

manus: interesting perspective there of course from bill gross in terms of the currency market. in terms of those expectations, the bloomberg survey sees growth falling 6/10 of 1%. gdp could be flat. and the ability to actually see inflation below the 2% target, well, that could burst out about that. a whole range of issues to deal today. anna: i really like the line from our colleague, one of her pieces this morning, the bank of england saying this is the most hotly anticipated bank of three weekse, well, ago. let us not forget three weeks ago, we talk about that extensively. the pound has been under pressure. does the market expect that to continue? manus: well, certainly the positions we see, short positions the biggest since 1992. a great deal, this is what you and i have gotten from a number of guests we have spoken to, the pound is off by 9% on a trade weighted basis as we saw brexit. but bear in mind what you saw from the bank of japan and the australians, bank of japan going for a little extra easing, but not what the market wanted. and the aussie, you saw the currency r

manus: all ahead of the jobs numbers. let us get the bloomberg first word news. facing ais set to be potential tax bill running into the billions of euros. with an eu ruling as early as today. the commission is expected to say that ireland provided illegal aid for a sweetheart deal in terms of creating jobs. apple said it had nothing to add to previous statements. anyand has vowed to fight adverse data. stability may be coming to an end. the relative markets are pointing to depreciation. monthly increase since january. have alsocators -- climbed indicating rising expectations for a decline. german foreign policy spokesperson and ally of angela merkel says the u.k. will have to pay into the eu budget if it wants the single market advantages. if someone wants to benefit from the european union single market structure, he also has to contribute to the cost of that operation. for example, as norway does. they pay into the system. referendum, no one talked about that. joined by be bloomberg reporter in berlin. salaries have come under pressure in the u.k. and companies are advertising more contract position

anna: bill gross saying low rates are not worth the risk. they are bouncing. manusif you know what is happening in the jgb market, and this is where i wonder if we will have a car crash. you were talking about this looking like 2003 where yields ratcheted. they tripled in the space of three months. this could be a shock to the market. what would that do to yen? jeremy: i think that is exactly the point. it is one of those issues where you talk about bond market bubbles. if you are trying to generate profits from your investors and yields move lower, it is difficult to do that. you can trade that strategy as long as you are the first one out. in a sense, that is part of the problem. the first mover advantage is starting to move out of the market. if we see yields moving up in bunds and jgb's, it could be yen goes down and euro-dollar goes up. anna: we have donald trump saying that u.s. rates are artificially low. thank you jeremy stretch, head of fx strategy. manus: we will talk about the company's first half earnings. it is all about the miners. can the rally endure

manus. [ applause ] i'm glad i didn't ask you to hold your applause. this is much better than waiting until the end. okay. ted maxwell. [ applause ] barbara o'malley. [ applause ] bille ] chris strain [ applause ] mark taylor. [ applause ] bob vanderlinden. [ applause ] estelle washington. [ applause ] and ken young. [ applause ] together they have dedicated more than 400 years to this museum in its hundreds of millions of visitors, and are the perfect representatives of our committed staff, present, path, and future. please give them now, please give them a round of applause for their extraordinary service. [ applause ] the national air and space museum is just one part of the smithsonian institution. it is the centerpiece, but it's just one part of the smithsonian. which includes 19 and soon to be 20 museums, 9 research centers and extensive global outreach activities. we wouldn't be able to fulfill our mission at the museum without james smithson's mandate for the increase and diffusion of knowledge which has guided the smithsonian for almost 170 years. our next feature arrive at the smithsonian in 1976 for the nation's bicentennial celebration. for many years he

bill gross is an action. >> i think the market expects them to cut but they didn't cut, there would be near-term chaos. with the fed along and move along with the boj. manus: you and i had a look really?saying are they going to produce any kind of a sledgehammer. we spoke to the aviva ceo dousing the ability for rate cuts or quantitive easing as really adding any fuel, putting a baseline in the u.k. economy. anna. anna: i will pick it up. in a moment we are seeing the pound pretty much under pressure. there seems to be an enormous amount of bearish -- versus the pound. is the market expecting -- will live up to the expectations of more weakness? manus: i think so much is priced in, the figures are the short bet. the highest on record since 1992. what you've got here is a trade weighted sterling, which has dropped by nearly 9% since we had the brexit vote. the question is will the market react as they did on the back of the bank of japan? it was a mediocre response in terms of what they did. the rba cut rates and the aussie bounced. the question for markets is are we finding a new floor in sterling? might we even see a bounce? is a the twitter five basis p

manus cranny and this is caroline hyde. plummet.ofits slowing growth in china and the prospect of a recession here in the u.k. -- the global fund market rally unravels. japan's worst bond drive since 2013 -- bill gross says record low yields are not worth the risk. socgen's net income beats estimates and rises over 8%. the deputy sees -- tells bloomberg the french bank also receiving the brunt of brexit. >> today the risks are still very high. decision is creating an additional uncertainty. caroline: we are less than half an hour away from the european open. we are going to be digging into what we see in terms of the market futures. overall keep an eye on where we are trading. --are up .2% at the moment, perhaps not the risk aversion we saw flow into asia overall. we are starting to see some hope looking forward after the significant selloff we saw yesterday in the banking industry could what a slump, down just industry and what a slump, down .3%. let's have a look at the workers were news with juliette saly. juliette: caroline, thank you. after taking a pounding, global oil prices is set for a violent reversal upwards. that is the story and a hall is telling investors. -- story andy hall is t

manu well. i have been disappointed of his conducting of fund raisiing affairs. going to a buddhist temple and claiming it is not a fundraiser is not my bill of responsibility. >> i think we should attack our country's problem and not attacking each other. i want to spend my time making this country better than it is and not trying to make you out to be a bad person. you may want to focus on scandals. i want to focus on results. as i said a couple months ago, i stand here as my own man. i want you to see me for who i really am. i have been married for 30 years. we have became grandparents and we got four children. i have devoted 24 years of my life to public service and i have said this before and i will say it again. if you entrust me with the presidency, i may not be the most exciting politician, but i will work hard for you everyday, i will fight for middle class families and working men and women. i will never let you down. governor, what are you saying when you mentioned the fund raising scandals and charges. >> we'll factor it in. we make the decision in the voting booth and do a better job. >> in what way? i think people need to be