eimear: i guess, in terms of pboc stimulus.ink those do anything aggressive in the short-term. maybe from china we could get reserve ratio cuts. we think this will be very much to mitigate the downside of risk to growth. we do not think this will create upside risk to growth. it is just going to mitigate the ground side -- the downside. nejra: thank you. let's get the bloomberg first word news with rosalind chin in hong kong. rosalind: special counsel robert mueller says he could not reach a conclusion on whether president trump obstructed justice, but his remarks mostly echo his report. he has made it clear he will not testify about any details of the russia investigation that have not already been published, but he says his investigation did not clear trump of wrongdoing. the fed reserve should avoid growth while the u.s. is engaged in a trade war with china, according to a nominee for the central bank's board. she says china is prepared to bring all of its apparatus to the conflict, and she does not want the fed to be a burd

>>that's right pam and can eimear live at park presidio boulevard and lake street where just over my shoulder, not sure if you can really see but there's a big old green box looking camera there. but uh it's an active right. now however come this summer this intersection and 12 others will receive new digital red light cameras, an mta says it's a long time coming. >>these cameras only flash if you're on a solid red light. >>red means stop that's exactly what the san francisco municipal transportation agency is hoping drivers do, especially at these 13 intersections where they've chosen to install new a red light cameras we we find a significant portion of our. >>injury collisions as ours is guarded people running red lights. one tool to help address that. >>and a lot of people didn't end their own lives as she went and hurry suzy wells lives near 4th street and harrison in soma it's the only intersection right now fully equipped with the new digital cameras. >>had a drug to like this where there's a lot of cross locks and it's a very good man highway entrance like i think it's kind o

eimear: will probably get some kind of kickback.learly, we have seen the chinese equities come off. it is bond markets that are probably underpricing. francine: this is a very nice bloomberg risk index, our on-off indicator which amalgamate's indicators and tracks equities, bonds, commodities, and liquidity. what are the markets tracking right now? kallum: there are lots of risks out there, even though fundamentals are good. but they are linked to politics, whether it is brexit, trade wars , potentially between the u.s. and eu. i think the markets will be looking closely at the negotiation and take their cue on the negotiations get to come. that is a good chart of global risk sentiment, it's just dollar sentiment. what we've seen is the dollar tends to weaken when we become risk on. we move out of perceived safe u.s. assets into europe. become -- strengthens because we have become more risk on -- risk off. it is unrelated to fed policy, to inflation expectations. measurehat is a good and i imagine shows a similar trend. francine: bo