in a letter to stormont‘s political parties, david sterling said no deal could lead to a sharp rise intural products. his letter has been dismissed by brexiteers as "scare tactics" and prompted sharp exchanges in the northern ireland committee and on the floor of the commons. are you and your colleagues prepared to risk the consequences of a no—deal brexit? if we finish up with a no deal, it will be as a result of the intransigence of the eu. we have been quite clear all along and the government has made it quite clear all along that they would wish to have a deal. this is a really serious issue. i mean, i‘m going to quote from the head of the north ireland civil service, a man of great stature and wisdom, david sterling. who warned yesterday of the potentially in his words, "grave consequences of a no—deal brexit" and he said, "it could have a profound, long—lasting impact on society in northern ireland". is that the risk that the dup is prepared to take for a no deal? i think you've got to look at the timing of this. a regurgitation of an earlier letter that he wrote. secondly, i kno

david sterling... there warning of the dangers of a new deal brings it.week, the real high noon, a few high noon is to be fair. next week is a meaningful vote, as opposed to the others. and potentially another to vote afterwards. if the deal is rejected again, there'sa afterwards. if the deal is rejected again, there's a good chance it would happen, we would have another vote on whether to take no deal off the table, and another vote to extend article 50. the chances of a no—deal brexit are increasing, and this is setting out in stark terms what is at risk, in particular the unrest, food shortages, the economy could absently tank, you're looking at taking 90% off gdp. obviously these are forecast, this won't definitely happen, but this politically puts huge pressure on the dup. everything hinges on whether the dup gives their thumbs up whether the dup gives their thumbs up orthumbs whether the dup gives their thumbs up or thumbs down to the new deal.|j feel sorry for them at the moment. maybe not that sorry because they've had their billion pound bundle,.

in sterling, virginia, david culver, news4. >>> baseball season is here, and there's a new change tof you bring a bag that'sowarger than a, the team is providing lockers where you can store them. any bag larger than 16 by 16. the lockers are on 1st street and on the south entrance on potomac avenue. the cost is $2 an hour for a small locker, $3 an hour for family size. >>> from baseball to hockey, prident trump welcomed our stanley cup champion capitals to the white house week. he said he's a hockey fan, a fan of the caps and a fan of the team owner. he also told them they had ampionship heart. he said he thinks they have a shot at a eproet. this visit also included alex ovechkin in a suit and tie. stark difference from the celebrations we saw around town. seidral players not attend. >>> we saw a different side of one of the caps most feared players this week. number 43, tom wilson on the ice, he's known for his big hits, but off the ice it's his bigheart. wilson partners with make-a-wish foundation t help kids in our area. news4's sherree burruss introduces us to avery cole, a 5-yea

in sterling, virginia, david culver news4. >>>he already won two national scholarships for his academic ess, his story has been circulated around campus and wil probably encourage a lot of other students to find that motivation for themselves t >> not just students. anyone who hears that >> yeah. he pulled himself up and out. >> way to go. >>> what do we have coming in here right now? we have the baseball seasoge ing ready to kick off, we need a stretch of good uff. >> last year baseball started off on a cool note. i remember. >> it was quite cool. this year going to be i will be down there, as well as the nbc 4 crew will be down there all day excited because today we're talking about sunshine coming for the opening day and not just that but temperatures above average. plenty of sunshine. we have lot of -- still a lot of, you know, darkness out there as farhes gray and the brown as far as the trees are concerned. but o thing we're starting to notice, notice some of th starting to look a little greener. we're starting to green

volatility, these tell us that the market is hugely uncertain and doesn't know how to price sterling at the moment. david: one of our headlines today, i just had a look at the bloomberg, cable likes going up the escalator, but chooses to go down a tube. fundamental outperformance of the u.s. economy relative to the rest of the world. i think the u.s. dollar can win no matter what your view of the world. in a situation where all is right, low volatility is ultimately supportive of the u.s. dollar. rishaad: quickly, is there a light at the end of the tunnel? [laughter] sue: i think that it is too soon to tell. clearly a lot of optimism is baked in the cake, but hope springs internal and the market is desperate. rishaad: but no light at the moment. sue, stick around with us. david: we will talk about the other side of that dollar equation. sue trinh stays with us. we talk about the e.m.'s racing for chinese production. rishaad: plus, manila's malaise. we speak with the philippine stock exchange ceo and look ahead. ♪ let's take a look at your currencies, especially in the e.m. asia space. we are seeing dolla

sterling. our reporter david there. still a lot of uncertainty.an markets are shaping up so far this morning. sophie: uncertainty ahead. treasuries are steady and yen is under pressure. seeing the aussie dollar and kiwi dollar declining overnight. in the equity space, tv stocks are off. itsbiggest laggard after disappointing results. looking to extend the kinds that we saw on monday. the kospi is up .6%. the company is seeing a difficult year ahead due to the slowing smartphone market. have korear side, we gaining ground. securities raising the price target by 16%. taking into account the forecast. being reasonable as they gain traction in the u.s. and china. i want to highlight a stock. a four-year low after cutting its earning guidance. seeing sony and nintendo sliding. this after a new game streaming .ervice it largely still runs on sony station four. shery: google getting into gaming. are the losses justified right now? what does this mean for the gaming industry? we did not know how much it will cost on a month to month basis. it is a subscri

david: welcome back. let us have a look at sterling. almost flat at 132. some movement in the last two days.akes a newrama twist with theresa may losing control of the brexit process. foreign and the asian exchange rates. parliament is taking control. an interim measure. thatheresa may is saying they will follow up on that indicatively at least. >> there is a lot of uncertainty moving forward. going nowhere because it is trying to figure out how this will play out. night'sing from last vote, some ministers resigned from the cabinet. and conservative mps, some of them, voted against theresa may. is uncertain moving forward. beyond that, the risks of an to rise.are beginning the conservative party could implode. moving forward, if the votes say we want a mild brexit and we want to kick the can down the road, a lot of the conservative party may not like that which beingsult in an election factored in. if the vote is to kick the can down the road and theresa may is satisfied with that and the eu has do agree with that as well, that would be positive for sterling because it removes any near-term

sterling up .6%. unbelievable. david: i do not think people really believe they are leaving. do not believe you. alix: theresa may horse with passion. -- hoarse with passion. coming up we will talk about the biggest risk in the oil market. this is bloomberg. >> you can see a tightening of the market. the u.s. has to make decisions whether to extend sanctions to iran or not. all of these things can make a volatile year. ♪ viviana: coming up later on bloomberg markets, mike wells, prudential ceo. alix: time for follow the lead, a deep dive into stories making headlines and moving markets. the insights from industry veterans and insiders. we take a look at the risk in the oil market. i spoke to -- he said geopolitical uncertainties are the biggest unknown. >> we made a purchase of the bhp assets in the u.s. -- because of a little bottleneck in the permian we will focus on the eaglefort. we are going to be investing in the permian but we will get the bottlenecks going and then study it. we have big plans for the permian. not yet to be will make a projection. alix: do you feel the

david, she is going to ask for a delay. what do the sterling traders want? short or long extension? >> the favorite one is anything that avoids the possibility of a no deal brexit. you would have to think the longer extension would be more favored. even potentially another referendum on brexit which may result in the u.k. not leaving. thet-term, the catch is chance for no deal does rise given it is the only deal out there. it has already been rejected twice. it,can garner support for it could get past. given it has been rejected twice already, markets would be nervous. brexitrd time, a no deal would not be good. might note a risk she be prime minister by the time this expires? >> i think there is a very good chance. there is a chance she might not survive the short extension. her tos opposition for step down. she survived. they can put a lot of pressure on her. a lot of ministers and cabinet ministers are saying, we want you to resign. even a short deal, she may be forced to resign. that raises the question, who takes over? the and certainty added to mix. to

david culver continues our team coverage. live at the adam center in sterling. >> reporter:hroughout the day today, loudon county sheriff's deputies have been patrolling the parking lfr during the ay prayer services. we're in between one of those services. they have private security you can see one of them behind me that have been patrolling the parking lot. and fairfax county are also stepping up patrols around local mosques. meantime, leaders are trying to find the answer to how to end the hate and violence. tonight muslims gathering at the adamqu center m for friday prayers, lifting their pain and suffering to a higher power. >> our hearts go to the family and the brothers anossisters that their life in this tragedy. >> reporter: the mass shooting in new zealand resonating with world,s across the including here in sterling, virginia. >> we need totand against bigotry determination in faith. >> we must be hopeful and process and stop hate and bigotry and continue our daily life. >> repter: is there any fear or trepidation to step into a mosque on a daydaike >

manus: david, thank you very much, our fx and rates reporter on sterling fast -- sterling nasmachinationsis time, the brexit story is about give i'm ideal for the third time, or you will have a very long delay. is that the right threat? to be working to a certain extent. the negotiations over the weekend were that some tories were starting to get behind theresa may's deal. but it would probably take more than that to get it over the line, and most likely will also require support from opposition labor party as well -- opposition labour party as well. i don't know if they will achieve it this week. perhaps it needs a delay in order to get the troops around further. but at the same time, a lot of question marks about theresa may's position as prime minister. parliament at the moment is not in a mood or a position to back any kind of deal. i think there is very little support for anything that has been offered in recent weeks. was here in abu dhabi last night at the st. patrick's day event. there were a whole host of people in the audience and we were having conversations. they were clear. n

while i'm at it please say hello to my good friend your cousin senator david who provided a sterling leadership in the senate. what an extraordinary bipartisan program we have started together. thank you for that, deeply appreciated. now mr. secretary i am very disturbed, i'm very frustrated with the treatment or lack of treatment of our farmers with these national disasters. according to the university of georgia, georgia has suffered 2.8 alien dollars in losses. on top of that we have got to do something. this is terrible. agriculture is the single most important industry we have. it is the very foundation of this country. it still is. you recognize that. you travel to all 50 states and you know that in 44 of those states it is agriculture and agriculture businesses that is the largest share of these states economies. it's the food we eat, the water we drink, the clothes we wear. shelter, what can be any more important to us than that but right now mr. speaker, sorry mr. secretary we have got to sound the alarm bigger. if we don't get payments down to our georgia farms by april we

i would be a bull of sterling as well over the longer term,but you are going to need tough nerves >> patrick, before that fun to quote daviden it comes to the trade talks, what's your surest guide to the expected outcome? >> i think we're going to kick the can. its think it's going to get close to going through, and i don't think we're going to quite get there. any time you have an opportunity to hope for something that's optimal for you, i think the bias will be just to extend and hope that happens, and it will never happen, and you asked the question do investors sit on their hands, and i think that's probably a fair enough conclusion it's companies that are making big capital investment decisions. they have to defer or redoekt it i think the u.k. is really suffering from this uncertainty, and another kick the can just extends that uncertainty i think it's significant headwinds for the united kingdom regardless of the outcome here because i don't think we're going to get to the thing where there is certainty, where you can make these big capital investments going forward for the foreseeable future because the transition

david: we do actually have exposure to u.k. banks. that is why we have used sterlinge to some of that exposure. i do think that the major u.k. have ample liquidity and operations that even in a disruptive scenario, those banks will be very solid. i think for some of the smaller challenge u.k. retail focused banks, there will be pressure on their business models and more pressure on their fundamentals. but i think the major international u.k. banks -- it is not good news of a disorderly brexit, but they will come out the other side. francine: david riley will stay with us. up, james morris, conservative party vice chair, we'll hear what some of the brexit hardliners want and what they would vote for. , 6t is 10 a.m. in london a.m. in new york, and this is bloomberg. ♪ francine: this is bloomberg surveillance. i'm francine in london and tom in new york. we're talking about the impact of negative rates. foundriley saying that he comforting the fact that mario draghi seems to be aware and addressing some of the concerns out there. theall, when you look at european banking

david: yes, it has been an eventful last couple of weeks. a bit of an understatement. in her may was hoping pass,ase plan hoping to which would have been positive for sterling.n though it sold off initially, sterling has stabilized against the dollar. the markets are saying there still will be a brexit, a delay in the plan so that is fine. march 29, what happens? i have to point out the no deal is still on the table. until an agreement is reached for an extension, the possibility of a no deal does exist. for the moment, sterling is certainly consolidating it. yvonne: so, i'm just wondering then if she has to go to the eu now to extend this brexit, i'm just wondering, is the eu going to throw them a bone and maybe try to negotiate a different type of deal here? what are the options now? david: i think from the eu's perspective, it does not want a no deal. the u.k. is one of its major trading partners. i think -- anything that blocks trade is not good because the eu has common difficulties. you want some extension, without question. the longer the extension, the more options are on the table, including potentially a second referendum. this is a chance brexit m

sterling. yousef: great catching up, thank you very much. of reporter live at singapore. let's get back to garry blackwell. you had a chance to hear some of david'ss, do you think the prime minister is going to survive the next few weeks? garry: i do, i think she has been very stubborn, and she is playing a little bit of a dangerous game, almost russian roulette with the dates now. i don't think she will get a meaningful vote through this week. not without some serious amendments. that's the problem we are having, these amendments, people are not really sure what each one is as we come to market. this is said, as happening, we're seeing volatility go up. and it is not moving. yousef: does that mean you stay away from the trade? how do you approach it? garry: you do. most of the hedge fund communities we speak to, and ourselves to some extent, we are waiting to see we have some certainty, why play this game? yousef: what is the next target for cable, your base case? garry: i think you could look, with a no deal, you could look for it to dip to 110. if she gets the vote through this week, we saw last week, 135 as a possible target. and we are back

david. it felt like ahead scratcher that in the mid it aftermath of that vote, we did see a bounce in sterlingit throws open the door to greater uncertainty when it comes to outcomes. did come offling slightly. glass what this means. it means -- people ask what this means. it means more uncertainty. every outcome has a greater probability. one thing that now has to be factored in is the probability of a general election, believe it or not. that is because theresa may is losing control. we could see a leadership challenge. that, if they vote and they said they vote in the city want to kick the can down the road, the people in the conservative party are very pre-brexit. they're not going to like it. it's a danger that the conservative party might implode. you will see more people going against theresa may. that is one outcome that would not be good for sterling. the second is, even if the indicative votes come out with a general consensus, the question is, will theresa may decide to go with that consensus? it's not a binding vote. it's just indicative of what they would like. the eu has to agree

david: something has to be done about health care costs. it's up to 18% of gdp. markets, it is a wait and see when it comes to brexit. s&p futures now flat. sterling off .7%. market, seeing a little selling on the margins. yields have pared back their gains. crude up .4%. the british pound is down, reversing earlier gains at a deal between theresa may and jean-claude juncker. this morning, the u.k. government released its legal advice on the new deal with geoffrey cox saying it reduces the risk of the u.k. being trapped in the irish backstop. we welcome francine lacqua. it reduces the risk of getting trapped in the backstop but doesn't change the overall risk of leaving the european union. exactly. this is why theresa may went to see jean-claude juncker in strasburg. there was a rally in the pound. she will come back and there's more of a chance that her parliament will vote it through. then, the attorney general said the main risks are still there. the probe brexit hardliners -- saying thehardliners backstop is part of their strategy -- it will trap the u.k. into this relationship with the eu. in the negotiations about the future relationship of the u.k.

david: can the british economy come back from this. adam: yes, but it will take a while. you have to reestablish trust and trade networks. earlier, you can sterlinge moved to being like nem currency. alix: daniel, do you agree? em currency? daniel: hopefully not quite to turkey levels but people have reassessed their assumptions about investing in the u.k. quite difficult to anticipate when a payoff on a project will be if you do not know what the relationship will be like in five years. the short-term it is hitting business investment. even if you do get to a scenario where you are talking about a 20 month extension, you think that investment will be put on hold. alix: daniel morris and adam posen are sticking with us. coming up, trump sings a familiar tune. investors turn a deaf ear. this is bloomberg. ♪ . . . . comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all

yesterday northern ireland's chief civil servant david sterling warned that a no deal would have a "profound of the irish border. but today, senior democratic unionist party mp sammy wilson dismissed that warning. he said his party will only back mrs may's brexit deal if the withdrawal agreement is changed. i would argue that a no deal would be better and best fail because they still draws a line between northern ireland and the mgp with the cost of excluding more than island and participating in any trade deals with the rest of the world. ben wright is in westminster. 23 days to go — i mean, is there any hope now that a deal can be reached before that march 29 deadline? that is the million—dollar question. i spoke to several mps about what they think will happen next week if they think will happen next week if they bill will go through are not? nobody knows. one said to be that it can go either way in single digits. they felt that that the batteries and nate might set that will not be the same as the one injanuary. so much hinges on what, if anything, it jeffrey cox can come back from that