as he is trying out e.m.'s for the 1st time it's like a natural muscle contraction which also involves current running across the brain. with natural muscle contractions the brain dispatches an electrical impulse that travels along the old pathways at its target the relevant muscle fiber that impulse eventually reaches the protein filaments. this causes them to overlap and slide past each other. the muscle contracts and releases its power. with electric stimulation you bypass the brain by attaching electrodes directly onto the muscle. now the current flows through the skin and straight to the nerve endings on the muscle from where the command again reaches the protein strands if the subject now consciously tenses their muscles the 2 commands from the e.m.'s cuff and the brain and. fight each other. occupy the special full body suit contains a range of electrodes to ensure that pull the vital muscle groups can become fit. the electrodes. in the wall. just stand there you start getting a feel for it and i pick t

thomas on the left will be doing classic weight training while mathias will try out e.m.'s they'll be put through their paces by hines klein he's a leading expert in electric muscle stimulation. the 1st step is for both brothers to take to the scales before taking to the weights for a muscle strength evaluation. of. stuff. overall you had very similar results. in some areas your stats were practically identical the few differences are very limited. c.s. is trying out c.m.'s for the 1st time it's like a natural muscle contraction which also involves current running across the brain. with natural muscle contractions the brain dispatches an electrical impulse that travels along your old pathways at its target the relevant muscle fiber that impulse eventually reaches the protein filaments. this causes them to overlap and slide past each other. the muscle contracts and releases its power. with electric stimulation you bypass the brain by attaching electrodes directly onto the muscle. now the current flows through the skin and straight to the nerve endings on the muscle from whe

what happens in china has done great impact on e.m., on everybody. but, if we look at e.m.ive to d.m., and the stimulus that comes from china, 3.5% of gdp, russia just under 3%. a look at the discount on e.m. for the s&p 500 and it is wider than we have seen since 2008. re: overly penalizing bashar we -- are we overly penalizing e.m. at the moment? seema: i don't think so. there is a potential for a catch-up story, but the fundamentals are very concerning to me. they are facing a number of real concerns. six month agos us in regards to coronavirus, a number of these areas are still just experiencing the first wave. cases really rocket and that should be the key driver for those markets. what this has also done is in focused investors minds into the kind of imbalances we are seeing. manus: seema, we will pursue the conversation. seema shah stays with bloomberg. this is bloomberg. ♪ --us: good morning divide good morning from dubai. stocks higher ahead of the fed rate decision. the fomc will release its first quarterly forecast since december. markets will be looking for any

did use weights so the classical training program was more similar to the test than e.m.'s which takes a holistic approach without the use of weights and that really goes with. basically both training methods worked you both improved by the. house no electrical stimulation does work although you still have to sweat for it's. got to be me what's your take on this training when people ask me that i ask them if i can offer you a pill where you have all the nutrients that you need you don't have to eat any more would you take it of course you save a lot of time but you are not going to cook any more you are not going to enjoy the smell and the days of the food you are not talking with friends while you cook or while you eat that means exercise is not only pumping with your muscles it's much more than that this enjoying the nature of moving yourself meeting new people and if you are only using synthetic exercice metal you are going to loose the whole rest thank you so much for those very interesting talk and now it's have a look at our senior citizens of the training goes and w

can you imagine the state e.m. would be if the federal reserve hadn't addressed those issues?no question about it. absolutely. question for jay powell a little bit later from the senate banking committee. we will take that full come alive on bloomberg tv in bloom or radio. that in full, live on bloomberg tv and bloomberg radio. also onounting you down u.s. retail sales. we will bring them to you at 8:30 eastern, in a roundabout 49 minutes. from new york, this is bloomberg. the first word news, i'm ritika gupta. today, president trump will sign an executive order on police conduct and reforms. it is in response to nationwide protests over george floyd at the hands of the police. it urges police to adopt stricter use of force policies. there will be more federal grants to departments that curb the use of chokeholds. the fed is stepping up its emergency lending program. up until now, the fed has bought only exchange traded funds. they will follow a diversified market index of corporate bonds. buying begins today. beijing trying to figure out if a new coronavirus outbreak in the c

space over the past 18 months, yield premium for e.m.d by 100 basis points, and that could dampen the allure. shery: let's focus on indonesia. central bank expected to trim its interest rate by 25 basis points after signaling there is room for further support growth. let's get a preview of the upcoming meeting. will they finally be pulling the trigger now that they have a stronger rupee? guest: the bank of indonesia is honestly quite concerned about stability but we have gains of u.s. dollar.e so that should give them some comfort. improvedmfort has considerably. resulted quite strongly this month in improving the current deficit. keep sentiment stable. it is up to them now to focus on the economic concerns. indonesia has now become the southeast asian country with the most number of coronavirus cases and the curve does not seem to be flattening anytime soon. the country is quite unstable for indonesia. at this time for the bank of indonesia to pull the trigger. shery: we have seen a carnival of vulnerability for indonesia, being the cur

look atrth starting to e.m. ideas, but i wouldn't say it is time to pull the trigger on them yet. paul markham from newton investment management. thank you for joining us. we want to show you live pictures of minneapolis as unrest continues to spread across the united states. it is a week today that george floyd, a black man, died under the custody of police and we have seen unrest throughout the country and it comes particularly as black americans are dealing with a disproportionately heavy impact on their health and finances from the virus. this is bloomberg. ♪ annmarie: welcome to "bloomberg daybreak: europe." the equity market bounce weathered the pandemic and tens of millions of lost jobs. it has to navigate civil unrest. joining us is dani burger. do the gains look sustainable from here? dani: it is certainly hard to put into words the scope of unrest and anguish that has gripped the country. mind, sometimes it feels inappropriate to say what will the economic impact of this be? strategists i've spoken to have hesitated to even begin to answer this question. one thing many a

what we saw when we saw the big selloff in e.m. in particular, we always see some of the dollar i think it's held up relatively well against the u.s. dollar. bundlinghat we saw was back to the g10, but europe held up well. we had two pieces news which i think were significant to the euro. we had the cb really putting its mouth -- the ecb really putting its money where his mouth was and say, look. we do not one fragment patient in europe. stuff going to buy this that sort of talk, which helped the euro. of course, we also had the european commission budget proposal. that was a step forward. clearly, that has got to be ratified, but you still got the euro really buoyant on that. so i think they are in a neutral point on the back of european news, and that is significant. still veryollar is much the funding choice of many countries, and that is why the federal reserve open at swap line and expanded it dramatically in the wake of the dollar crunch we saw in march. last week marks the first time the fed started to taper that, and people

steven: there is no doubt that e.m.'s provide the best opportunity.y are forecast to grow about 6% over the long-term and then you have a market at 1% or 2%. so there's no doubt that is where the opportunity is long-term, but one has to be careful in the short-term and they have to be able to hold through the short-term. for's are not as prepared covid. it's hard to shut down and economy where people live day by day and often live in very tight quarters. that's where we are seeing massive growth -- in brazil, india, nigeria, russia. all of these economies, except for china, presumably, and there are a lot of questions over that data and we saw the spike in beijing, but to go back to it, it is very tough for e.m.'s in this environment. when the economy slows, they slow more and covid is going to be a shock to them. vulnerablem.'s look in the short-term, but there's no doubt someone with the fortitude to hold for the long term, e.m.'s are where you want to be. shery: we appreciate your insight. we are listening to the s trillion prime ministers speaking

e.m.'s over the last 4 years as lost 60 percent of its workforce they leave because they're that making any money here in the benefits and you need people with experience in regular times to manage this stuff. why are the best members a struggle here we are trying to you know fight this enemy that you know this is a losing so much against and then we. can even pay the rent. ok everyone really needs to work. with. them is on to not shut down they're worried about making money they're worried about moving the packages. as the weeks went on the company began texting christian of his coworkers to notify them of the latest kovi cases in their warehouse. despite additional safety measures that amazon added like temperature checks thorough cleaning and protective equipment the techs kept coming doesn't feel great to go in but you know many of my coworkers are also in this same situation and so you know we need to go in here and and we need to fight and so here i am. that's what. we have been news

at e.m. barbers, vinny aiezza is cutting hair again.e reedophis past tuesday and allows one client into the shop at a time, scheduled i advance. how busy have you been since tuday? >> i've been pretty much booked since open to close. >> reporter: aiezza applied for the federal protection program but was denied. he says he was able to make ends meet, in part, by collecting unemployment benefits. >> i'd rather just get back to work, and, you know, i don't want to collect nothing. >> reportera few doors down, workers at the north end tavern are putting out tables and chairs, measured exactly six feet apart for social distancing. jerry dejesus is one of the owners and the executive chef. >> you kw,e've been living off the "to-gos" and deliveries and curbside pick-up and uber eats, and cutting it, to be honest with you. so, it's kind of nice to have tables and have people comanin actually eat. >> reporter: these two businesses are just down the road from the young israel synague, which emerged as a hotspot in early march. this led ta local l

e.m. currencies are being fueled in asia.he thai baht. 30.86.at it has strengthened the most in a year. it is a dollar weakness story. the taiwanese dollar as well. it's basically in thai baht territory. you look at the rupiah, one of the best performers when it comes to asia fx. 13,913. the ringgit is also catching some today. we heard from the fed it has helped bring the dollar down. we expect dollar weakness to persist from here. still to come on the next hour asia" weberg markets: speak to one of the world's biggest software company's head. ceo joins us with an exclusive interview in about 40 minutes. you don't want to miss that conversation, along with a check on the markets. keep it here with us. this is bloomberg. ♪ >> almost 11:00 in hong kong. markets.loomberg here are the headlines. investors weighing the fed, jay powell warning of a long road back as rates will remain near zero through the end of 2022. china second-biggest game maker jumping on its debut. home in a week's time. india's response to the coronavirus h

more on the e.m. complex and the cheaper currencies. ushn, translate you're very, very complex notes written jp morgan about what the asset classes and particularly fixed income and foreign-exchange signal for the equity market. you just said equities are constructive here. how do you take those signals to get to a constructive view on equities? me, the big signal out of fixed income markets is there will be financial oppression over the next few years, meaning massive central-bank purchases that offset these exploding deficit figures and issuance. so low rates is going to be the norm for a very long time, one less thing for equities and credit that you have to worry about as a potential disruptive force. the signal i am not taking from fixed income is that growth is going to be underwhelming over the next couple of quarters. remember, the rates markets are managed markets, and they are managed through qe programs, so there is not a lot of signal in terms of strength of the economy coming out of the dollar market, where you're getting t

that is a huge tailwind for e.m. as a whole.t trading at all-time highs and thet of the moves since march lows, e.m. assets of the biggest catching up to do and also the most upside assuming we are still in the risk on regime. rishaad: how do you value a company like jd.com? should neveruation be about what a company is trading at. it is perhaps what does the company perhaps deserved trade at? >> [laughter] on a fewsagreeing things today, which is great. from my perspective, it's about making money. on the valuation perspective, what's more interesting to me than jd.com, which to be fair is trading up in a poor market in asia, is the theme behind it. i think this is a structural theme here to stay, i.e. a lot of the chinese companies in the u.s. i think it is great for the hong kong exchange, the hong kong market, local markets in asia. of course there will be a lot of brokers to make a killing from all of this. that's more of an interesting trend thinking about what happens on the u.s. listed side with these names. in regards t

. >> under what circumstances would you look at e.m.?if our borrowing costs continue to go down, there's no particular reason to access esm. the main advantages is that you borrow at low cost. right now, there's no need to access that. it's available until 2022. if things go according to plan, i don't see any need to access it. it's a safety net that's there. that shouldcomfort we need it, should something go against what we have, there's always the element of unpredictability. it's there. it should be available if we need it. right now, we don't. nejra: that was the prime minister of greece. daniela russell is still with us. that at theo think start of this month, we were seeing the 10-year treasury yield almost approach 1%. you have some ounces also calling for the tenure bund yield to turn positive by the third quarter. in thed wave virus fears market going to put a cap on rates globally? those yield levels that you are talking about will probably be unrealistic anyway. are certainlyries cheap. wave,ars about a second as you've alread

what does that mean for the e.m. spectrum? >> an important distinction i would argue is valuation.high data currencies have already gone back to the very close levels where they were pre-covid. it weakened more sharply and quickly in the initial selloff. the view is the recovery we have seen and the past three or four weeks!rÑ is likely to persist further. the necessary condition for that to continue his flesh dollar liquidity. the fed ensuring we do not have funding programs. we think that backdrop suggests performance. rugby that, we expect the there was a short dollar cma cmh recommendation. >> that is even weird, that act drop of trade tensions. interesting you have moved to that. i wonder what you are doing around the u.k.? soft going to introduce border checks. that is to avoid adding burdens to u.k. businesses. that is what we learned overnight. there might be no extension to the deadline, negotiations happening in december. we are not progressing too much when it comes to these brexit negotiations. it seems to me the fishing rights is a sticking point at the moment. how bul

eric says deglobalization is the biggest risk to e.m.t goes back to your theory on steepeners and bonds and inflation, doesn't it? paul: yes it does. it is one of the threats we have gotten the next few years from the higher level of costs of doing business generally in developed markets or emerging markets. and you should have higher yields, steeper curbs as a result of that. then you look at where we are now, and we are looking at a deflation trend for the time being, for the next six months to the end of the year, and if you look at a broad index of emerging-market countries, the yield is so much more than that is available in developed economies. kid's screening out as a place for people to invest or park their money. inh low interest rates bonds, cash rates, you are going to get the chase for yield. the difference between the financial crisis and the period after that and this crisis is we are seeing bigger fiscal spending coming through. larger fiscal injections into economies and it is our theory we will see more of this money fee

for we can look for investments, there are even areas like brazil, latin america, even places like e.m., one of the worst performing regions going into the crisis. that could be an area like .razil in the u.s., small caps, another area. europe come i think it will lag a bit of a cyclical trade. arope for us would be more of shorter-term interest. i think over the long run, europe may continue to struggle given the lack of growth. caroline: always great to get your insights. we thank you for joining us. that does it for "the closing bell." "what'd you miss?" is next, where we speak with the amazon head of sustainability. this is bloomberg. ♪ ♪ from bloomberg's world headquarters in new york, i am caroline hyde. romaine: this is "what'd you miss?" caroline: on the nasdaq, once again we march higher. volumes higher, stocks higher. volumes lower on the s&p 500. president trump says not to worry about the china and u.s. trade deal after trade advisor peter navarro signals it could be coming to an end. over 2 million restaurants around the world fight to keep their doors open. as part of the

the bloomberg invest summit and it was something like 5000% worth of rate cuts have gone through in e.mwe on that journey? you have a view on some of the eem currencies, the dollar versus the brazilian real, just to name one of them. georgina: it is interesting, and i think the tolerance for weaker currencies across emerging markets has perhaps increased because policymakers understand that might have to be part of the solution, and it is a trade-off in the sense that their policy response versus what growth and inflation dynamic they achieve longer-term. for our dollar exposure, we are much happier doing that versus selling some specific emerging-market currency. brazil, as you mentioned. she lay. -- chile. looking at china, looking across the board. the difference is in the policy responses and how effective they will be. even new zealand, which is not an emerging market, but opening the door to policy response, that's another currency we have been selling for a while to say those have not quite gotten there yet. they are going to play catch up with the rest of the world, and that wil

e.m. outperform a week ago and have an environment. how much of an impact will that ave.le flight to safety and we see sent metropolitan to drive the equity market and outdrive and especially did you look at hine nd the country to go into -- indiscernible] d it col may well spark of events, recovery is very fragile. >> what are the risks in the horizon but institutional money still to be deployed. >> i think you are making a really good point. he can quits are down and we ll see ta and the market for some time and i'm saying, you will have more allocation to drive equity markets and simply ecause it is a bearish positioning and we see it higher and now with central banks and providing an enormous amount of liquidity. . > where your we heard from the treasurer, ause trail yeah is in a recession and at record highs do you want to be in the playbook right now or markets still cheap here? >> this is a few things here. equity market is a forward-looking instrument. time. six-months now the second thing, australia market has always been a market that provides very high yield an

rise in public investment in digital and green technologies to help hard hit economies let's speak to e.m. bag about this is a professed aerial research fellow in the european institute at the london school of economics is vice cut from london thank you so much for being with us mr begg so the o.e.c.d. is basing its production is that on the impact of covert 1000 and the lock downs on the global economy what do you make of these predictions you think they're being too alarmist oil is not going to be a spot. well 1st a technical point i think what they're projecting is what they call scenarios room the actual predictions they're one of their scenarios says assuming no further outbreaks the 2nd scenario is much more negative figures he's a human you're further spiking infections which requires a further look to. the difficulty that all economic forecasters have of the moment is the uncertainty we just don't know what's going to happen and we don't know what's going to happen you're relying on assumptions in economic models for which they're not really well equipped but say that the trends a

fire in e.m.'s got to the church and was able to extinguish the fire with with relatively light damage to a basement area outside of the main sanctuary of the church so we're happy that that that happened we don't want to see any destruction or arson graffiti smashing looting and our city and the church with the paste and we think that's a terrible thing we reckon i appreciated the bishops comments. that she wasn't involved in in that and was kind of appalled at the church being used as a backdrop. just giving it to. the mayor went out and well you are seeing there was an order to disperse the general practice district in all fours one of the centers for your it so that issue and then there was the helicopters coming pretty close to ground. 0. there's concern that national or human or. i mean this is these military resources . or are we through that concern that. i know. that really ringback is. as we mentioned we we are concerned about we become concerned about any police or non policing forth in

essentially a politician have with hiring a police chief what do politicians know about hiring police fire e.m.'s or other issues or let's say that background they have a spirit in that particular earth so really we need to take a much larger collective look at how we are handling our how rather than policing has to handling our system of policing in this country and more importantly how police are dealing with individuals of color and i also recall that we have a reform mr play devil's advocate here because in a society that has a great deal of sort of gun crime and there's a constitutional right to bear arms it's no wonder police would be guarded as anyone can carry a lethal lethal weapon and therefore they need to think about that safety aspect when they approach or asked to approach individuals be it in a car park on a main highway on a street anywhere they will always be on alert to start with but it's the thinking method behind us to why they need to be on alert that needs to be questioned. this is training. often when you see police training and you see training videos their top issue f

this after the korean won actually led the gains among asian e.m.revious session. there have been lots of expectations for the bank of korea could be joining peers and embarking on q.e. after cutting policy rates. and we have seen sovereign debt sales really doubling with the government funding a third budget. and that's increasing the pressure on bond yields. the a.s.x. 200 up .8%. we had seen a little bit of pressure on australian stocks after the unemployment rate surged to a 19-year high. coming up, an exclusive interview with the hong kong-based private equity firm p.a.g. which oversees a $38 billion. c.e.o. wei zhang to discuss the outlook for the city as officials begin talks on dwessive security legislation. plus the market outlook with morgan stanley china equity strategist laura wang joins us at the bottom of the hour. and don't miss our coverage of the bloomberg invest global summit starting monday. we will bring you the biggest names across finance, economics and investing including blackstone, steve schwartzman, nd jim chanos and apollo