haidi: franklin templeton reckons the u.s. dollar is becoming too hard to predict as economic uncertainties way. we are talking later this hour. this is bloomberg. ♪ is bloomberg. ♪ haidi: we are counting down to the opening of trading in sydney. this is monday morning shaping up. we have a bit of a gloomy day in sydney. .1% higher with sydney futures. we have japan quotes, aged a day closedn and malaysia are today. shery: new york stocks also inching -- kind of mixed picture. you are watching daybreak australia of course. we have seen the emerging markets stocks hammered in the last few weeks. the last few sessions rebounded. toby lawson is still with us. we did see a rebound in emerging-market assets but only after the huge selloff we have seen. does the selloff have a cyber lining -- silver lining that it will limit the pain some kind of correction and the pain from further falls? toby: as an investor, you probably look at the relative value of em and say it looks like good value. look at the underlying fundamentals in emer

franklin templeton says the e.m.y be nearing the bottom, and goldman sachs warns that india's rally could be coming to an end. and sergio ermotti says ubs is planning for a no deal brexit, and has chosen the location of his new eu help. he spoke exclusively to bloomberg. >> yes, confirmed. we have existing operations in forkfurt and our choice is multilocation strategy, where frankfurt will be the base. ♪ >> good morning, everyone. 7:00 a.m. in london. we are an hour away from the european equity market open. we've seen losses in the asian session, excluding japan, the msci asia-pacific has seen losses of more than 1%. if we look at how europe might open, the stoxx 600 closed earlier before we got the news flow through about president trump potentially preparing more tariffs. we are seeing futures point , jack, and cace 40. let's see what's crossing the bloomberg. h&m third-quarter sales coming in at $55.82 billion. the estimate was for $54.03 billion. we are seeing a beat their for h&m. in terms of commentary coming

emerging-market currencies selloff, but franklin templeton says the route may be nearing the bottom.cing for a hard brexit. sergio ermotti says ubs is prepared for a no deal brexit, and has chosen the location of the new hq. >> yes, confirmed. we have existing operations in and our choices a multilocation strategy where frankfurt will be the base. we are less than a half hour away from the start of european equities trading. , therrows across the board major indexes are down while the dax is off a half percent. futures are down right now about i have a of 1% stop copy of the index on my screen, the broader chinese mainland equities index over the last three days. the open this morning shows almost a breakaway gap to the downs died. definitely something investors need to watch. this could have something to do with the typhoon but i think it is mostly because of the increased trade war concerns out of the trump administration and the fact that china doesn't want to sit down with steve mnuchin after all. >> indeed, that is the focus, doom and gloom to a screen near you. this is what it

franklin templeton says the em bottom is near.after lehman failed, the 10 year anniversary. we talk with mike mayo about the health of u.s. banks and the next crisis. david: welcome to "bloomberg daybreak." i'm david westin with alix steel. o have to think about -- you have to think about those people in the hong kong and the philippines, we will have a tough time to come. alix: as the climate changes you to get more of these storms and when you hit a developed market, it will have an impact. we think in the next couple quarters, it will be better, but for the emerging markets they do not have those resources. david: maybe those resources not prepared, as well, so the consequences could last for quite some time in asia. alix: a little bit of selloff in asia and is spreading to. europe but s&p futures only off by three. euro-dollar is a little bit higher, a weaker dollar story in the g10 space. and 1.16 is how we print. and with a selloff persist? if wes the question, are not able sustain that level? crude is up by 8/10 of 1%. and

franklin templeton investment says emerging markets may be nearing a bottom.ncertainty, the money manager is keeping a net neutral dollar position while shorting the philippine peso as well as betting the aussie will climb against the new zealand dollar. the uk's prime minister has left no doubt she was prepared to defend her brexit plans amidst growing signs that a deal with the european union. wasesa may said she irritated at the top of leadership contest. important.really i am not one of those advocate for a beer -- a revote. what i am saying, for the first time ever, the british public should have a say on the outcome of the negotiations, plus the option of staying in the eu. daphne: global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ much.ne: thank you so taking on trade, shares in shanghai closed at lows after president trump instructed aides implement tariffs on 200 alien dollars -- 200 l.a. and 200 billion- dollars of chinese exports. what exactly is