david bloom from hsbc stays with us.g up, recovery threatened as china seeks to inch out of the slump. this is bloomberg. ♪ nejra: this is "daybreak: europe ." china's economy continued to recover in may. industrial output led the way with a 4.4% rise from a year earlier, still less than the median estimate of 5% expansion. consumer demand remains sluggish. retail sales fell. a possible second wave of infections could threaten china's recovery with a number of coronavirus cases jumping in beijing over the weekend. david, how does this latest data and second wave fears and china impact your risk on-risk off thesis? david: i think data at the moment is not really doing it. we know basically how the trajectory of growth works. we don't know how deep the recessions are. if you could get 10 million from payroll in the market moves, you could see that, for the moment, data is not really what matters. for the moment, i would say we just take data with a little pinch of salt. looking for five, you get 4.4. in these days, that is

them in our community garden wanted daily basis planting trees is more than a symbolic act for david bloom the children have learned a lot about the crucial role of step trees play to provide shade to protect rivers and soil that play a vital role in taming the health of our environment. well at the time when our lives overshadowed by the corporate crisis because firing if we can manage to raise awareness of environmental children then there is hope for real change the crisis can also be an. opportunity here in company change is already underway ever since the lockdown was imposed it's been absolved there has been improved air quality i want to see some changes will probably be the fast but could be a good it is a good buy for me. here in kampala. thank you sandra i'll bring about change is our mission here. i'm music is one way of making it happen i'll leave you with a song for mccain young clean up initiative enjoy my single iraqi shoe a highly for environment i'm else right away from lagos nigeria see you next time about 2 churches such as financial. shock. you. don't know from you migh

this takes us back to david bloom's comments. risk on, risk off. aussie, kiwi, you see the disintegration of risk off, straight back onto the fuel. how are the markets? on the screen in asia, which is interesting, because we have kept those gains. we did not see euro stoxx 50 futures budget. firmly in the green for much of the session. the s&p e-mini's, you saw them take a hit, then recoup losses, edging into the green. 10 year yield also moved around a little bit. you are right to point to the dollar. it gained and gave up gains on a broad index. a retreat in the yen. it was also the yuan that reacted. a little weaker right now, not recouping all those losses. oil also taking a hit, falling from a three month high and staying slightly softer. manus: mr. trump has said the phase one trade deal with china is, quote, fully intact after spurred arro temporary stock slump. it all started with this conversation on fox news. --do you think the president he obviously really wanted to hang onto this trade deal as much as possible. he wanted them to make go

as well -- going david: i first met you a number of years ago. today, the bloom to be off the rose in african investing. it was very attractive six years ago. today, it is less attractive. is that because economies in africa have gone down? aliko: i think most of that reason has to do with lack of understanding. look at the investments made, 90% of what we invested in has done well. i think it is where you should invest. myself as an african, i cannot invest in every sector. i have to be choosy where i invest. there is a lot of a wrong perception. people read stories from newspapers and believe what they are reading. i think, as we go along, there are a lot of changes in most african countries to try and change to focus on the economy. david: how many people are there in lagos? aliko: we have 25 million. it is small. david: getting around is not easy. getting around new york is not easy either. when you get around, do you have special police cars? aliko: i get around, sometimes i have a police escort, but not all the time. i drive myself. david: you drive yoursel

david: i first met you a number of years ago, when i was raising my firm's african investment firm, and you invested in it. today, the bloombe off the rose in african private equity investing. it was very attractive to many people for years, five years, six years ago. today, it seems to be less attractive. is that because the economies in africa have gone down a bit? or what would you say is the reason? aliko: i think most of that reason, i think, has to do with, most of all, lack of understanding of where to invest. i mean, you know, look at the investments that were made with you. i think 90% of what we invested in is doing very well. i think it is where you should invest. even myself, as an african, i cannot invest in every single sector. so i have to be very choosy of where i invest. you know, there is a lot of wrong perception. people read stories from newspapers, and they believe what they are, you know, reading. but i think, as we go along, you know, there are quite a lot of changes, in most african countries, to try and change in terms of, you know, focus on the economy. david: you live principally in lagos, is tha

bloom. his credo no chemicals. is wife thought he was crazy. and. step in. order. to stand a chance of. success to. duck academy. starts july 27th. i'm david and this is climate change. happiness in 3 books. this is the book for. smart or for free. is for me. beethoven is for you. is for health. beethoven is for her. beethoven is for the. beethoven is for us. is for. beethoven 2020 the 250th anniversary year on the. this is from china. on hong kong. but pro-democracy activists protest the streets freedoms and ends the one country 2 systems framework coming up.