. >> and bnp paribas is in talks to buy units in a deal.view with the ceo in moments. let's get you caught up to speed on some of these market moves, because as a heavy day for trading across equities. the pickup from asia negative. nikkei down almost 5% overnight. the s&p ending the session down. nasdaq down more than 2.3% as we keep an eye on the data. we had into the print today, focus on the labor market signals, but into the session, all of these futures with the exception of the ftse are leaning red. nasdaq 100 leading to another negative open after after hours earnings came down disappointing to the downside. other boards we are watching. fixed income, big rally after those ism numbers disappointed to the downside. the 10-year yield has traded to 3.96%, another basis point lower. investors start pricing more out of the fed. the bank of england came forward with the rate cut yesterday. as you can see, we continue to see downward pressure on the pound, down 1% for the week. oil, keeping a close eye on that, down for the week. access is

meghan robson is with me in studio from bnp paribas.is the appetite when it seems like there is risk out there, we are not even quite sure what the risks are we look at the economic data. meghan: thank you for having me. we saw the biggest selloff in credit in the last two weeks as we saw some volatility. a lot has recovered but spreads are still sitting wider. in our view there is still some spread upside to capture over the next couple weeks as we head into august. there are some supportive factors. we have $20 billion to get through next week but it is a lot less than earlier this month when it was $40 billion in investment grade. investor positioning was very extended in the u.s. and that happened to come down with the selloff in credit. those factors and stability and growth will be positive for credit. vonnie: on perceived risk in the bond market, we are at something like 52 basis points. it is basically no risk whatsoever. steven: i think the market is pricing in both an economic soft landing to a scenario with accommodations com

tom: the bnp paribas global head on em credit strategy. and political risk could be rising. there is plenty more coming up. this is bloomberg. ♪ tom: welcome back. brace yourselves for more volatility. here is a gauge. the inversion you are seeing, on the front and in terms of pricing of options around volatility you are seeing more pronounced moves. the inversion is there. interestingly, the last four times this has happened, the s&p is nearing a bottom. the other space is getting crushed again today and you can see that in terms of bitcoin and ether. 74,000 was a record high and we are now around 53,000 for bitcoin. and the pressure around the cryptocurrency space remains. you have seen an outflow in terms of bitcoin etf's, the most in about three months. the biggest drop since the implosion of ftx. is this a buying opportunity? the other negative factor for these markets is what berkshire hathaway is doing. warren buffett cutting its stake in apple 50% after cutting its stake in bank of america last week. it has a cash pile. the questio

for more on this, joining me now is trevor allen, head of sustainability research at bnp paribas.g points? where are we at? today — and charging points? where are we at? today the _ and charging points? where are we at? today the uk _ and charging points? where are we at? today the uk is - and charging points? where are we at? today the uk is in - and charging points? where are we at? today the uk is in a - we at? today the uk is in a good position. the uk has around 32 million ought appeals on the road. only about 1.1 million are electric vehicles and about 50% has been sold in the last two years when we think about what the power demands after 1.1 million electric vehicles, looking at about 4300 gigawatt hours or about 4300 gigawatt hours or about i% of what the current generation is today for the uk, so a very manageable problem going forward for the uk. when it comes to _ going forward for the uk. when it comes to range _ going forward for the uk. when it comes to range anxiety, - going forward for the uk. when it comes to range anxiety, is i it comes to range anxiety, is that

. >>> and axa is in talks with bnp paribas for a deal of 5.4 billion euro.t posted earnings of 4.2 billion euro in the period which is up 4% on the year. charlotte has been monitoring the latest announcements from the companies. at this stage, when you think about the share price reaction, axa moving higher and bnp moving lower. we know the overall market is in sell-off. walk us through the benefits of bnp. >> it completed the selloff last year for $3 billion. there was share buyback. we have an answer with this negotiations with actioxa. 1.5 trillion euro of assets under management according to moody. it has been lacking momentum. it makes sense for them to go in that area. a lot of the alternative assets that axa had within the particular area for bnp. that is the latest consolidation with the scale in particular. they want to be a player in this as well. for axa, according to jeffries, axa lacked the scale in asset management to compete with industry leaders. it allows them to refocus in the core business and focus on insurance. it is interesting as this

zero, bnp paribas, and namor all called the bureau of labor statistics and obtained the data directlyer was not released as scheduled at 10:00 a.m. eastern time. a former colleague now at bnp paribas, i love this quote, we call it the public line a couple of times and they give us the number. dani: some of the reporting was that the bls. that maybe they had published on the website so were confused that it didn't. they thought, why not give it to someone on the phone? government clumsiness is especially a problem when it comes to market-moving data, because you have this appearance of giving people an unfair advantage. you have this appearance of giving people favoritism. it is the image that is a problem. this is why, for example, at jackson hole i learned recently they do not invite anybody from banks. they don't invite anyone from firms because they don't want to make it look like they're giving people unfair access. it is not necessarily that they are, but it is the appearance of that that erodes ever so slowly the trust in some of these organizations. jonathan: the effort to avoi