there were some soothing woods from italian prime minister giuseppe conte about wanting to work with the same time it says it's not willing to bend too much so we are not sure what the compromise could be. the commission are set to reject the plan. more on that in a moment, but first samira hussain has the details of what's ahead on wall street today. the iconic american motorcycle company harley—davidson will be reporting earnings, earlier this year it decided to move production of bikes going to the european union from the us to its overseas facilities. calls to boycott harley—davidson then followed and they were backed by the american president donald trump. investors will be looking for a financial fallout from that. the golden arches will also be reporting earnings and while investors might be interested in seeing if low price value meals and other initiatives have been successful in drawing in more customers the focus will be on china where the anti—us sentiment following the trade war could dampen sales and overall results in return. joining us to talk about the markets today

don't miss our exclusive interview with the prime minister of italy, giuseppe conte, at 2 p.m.me. nejra: whatever you want to call it, we are watching it. next, jacques van den broek joins us for his first interview of the day. this is bloomberg. ♪ ♪ nejra: this is "bloomberg daybreak: europe." 6:46 a.m. in london. cable doing nothing, but we did see a drop of about 0.8% in yesterday's session. concerns probably -- perhaps ahead of theresa may addressing parliament. by the way, the selloff in cable and the euro have pushed the dollar to its strongest level this year in yesterday's session. let's check in on what's happening across the bloomberg universe. the world's largest see bridge is set to bring hong kong closer to mainland china. it's due to open traffic tomorrow and tipped to carry some 29,000 cars and trucks daily. manus: on to bloomberg.com. the european commission is likely to decide today whether it will formally demand italy revise and resubmit its budget. this would be a step it has never taken before. our most read story on the bloomberg terminal, third place, net

on monday giuseppe conte's government insisted it would stick to its spending plans for next year despite for non—compliance with eurozone regulations. italy's governmeent wants to increase spending despite its huge debts so that it can fulfil its election promises. and now — what's trending in the business news this morning. the government has a strong reputation for preventing sexual abuse and violence overseas, yet is failing to address the problem at home, according to a report by a group of mps. the women and equalities committee is calling on the government to tackle sexual harassment in public places. 0ur reporter lisa hampele has more. the report says that women and girls are being harassed on buses and trains, in bars and clubs, at university and parks along the street. such behaviour is relentless and becomes normalised as girls grow up. the most shocking thing was the way in which young women, particularly, were being forced to change the way they live their life ona change the way they live their life on a daily basis. what they wore, if they were out of running that they w0 r

people who are experts in political contentions. >> do you think there's anyone, whether it's giuseppe conte giovanni tria, that the more they make these comments at variance with one another, the more markets get concerned and the more expensive it gets for the italian state to borrow money? is there anyone that explain that to these men? >> i think they are slowly getting the message, but it only also shows us the level of organization that this government has when it comes to economic policies. >> we're seeing the markets, the bond market in italy driven very, very quickly by comments coming from politicians. in your view, from an investor perspective, who should people listen to and who should they tune out when it comes to these comments >> people should look, i think, at what the actual documents are. there is a lot of -- seems to be in permanent electoral campaign mode elections are coming up. the coalition could great because of the two main parties are not aligned. i would -- my advice to investors is to look at the details of the documents once they land. it's one thing declaring a

that is the message from prime minister giuseppe conte day who says his country will not leave the bloche argues the economy needs a lift. germany has warned rome to be careful with debt, and italy's credit rating has been cut. reporter: italy's prime minister has insisted his country needs a new approach to stimulating the economy because previous efforts have failed. in the second quarter, growth slowed to itsts weakest pace in nearly two years. >> this budget draft i is well coconstructedd and formed.d. the e provisions for growth are very good in respect to what we're doing at the moment. reporter: he has pledged that next year's deficit will not exceed 2.4% of gdp. but that is triple the previous government's forecast. the italian leader said it would fall below 2% by 2021 and guarantee the national debt to gdp ratio would decline. he also dismissed any suggestion that italy would leave the eu or the eurozone. >> for italy, there is no chance, no way, to get italexit. there is no way to get out of europe or the eurozone. reporter: many italians support the tough stance against brus

the language from the italian government they have been more optimistic in terms of progress giuseppe conte talked about the reaction to that letter and moody's decision not to downgrade italy to junk as progress >> i believe today the market shows us that even according to moody's the fundamentals of the italian economy are good >> even according to moody's, a ratings agency that people like mateo salvini have in the past heavily criticized so they will drive forward the relationship with the european commission, whether that's a confrontational one or slightly more conciliatory approach remains to be seen once we get a decision on this draft budget plan from the european commission we'll let you know >> numbers speak louder than words, that's what italian bond investors have been watching out for. we've seen a roller coaster ride for italian bond yields. yesterday at one point we were trading 25 basis points lower for the ten-year and two-year and ended weaker once all of those gains turned into losses but this morning there's also a report from a local newspaper suggesting that potential

described italy's spending plans as an unprecedented breach of budget rules italian prime minister giuseppe conte wants to boost his economy with a thirty six billion euro spending hike but that would lead to a deficit far higher than what the e.u. deems to be acceptable markets have reacted badly to the plan and there are fears the country's credit rating could be downgraded as a result italy's government is due to meet again on saturday to hammer out the deals of the plan the details of the plan rather. brics it could be a threat to the full english breakfast the slap up feast of sausages eggs toast blood pudding beans and bacon is world famous but here's the problem denmark is the number one supplier of british breakfast bacon and it's an e.u. member state which the u.k. won't be next march. what would a classic british breakfast be without it they can and often enough it comes from danish pigs courtesy of pork specialist to some factories. they've been keeping british tables for for over one hundred years with up to ten thousand pigs a week the u.k. is home to the most important customers but

the country its european neighbor italy has also shifted to the far rights earlier this year giuseppe conte was picked was picked to lead a government determined to restrict the flow of refugees from reaching italy then of course there is donald trump who shocked the establishment with his election two years ago he's also tough on immigration and has introduced a raft of policies that have drastically reduce the numbers in latin america chile has moved to the rights with the election of billionaire sebastian pinera earlier this year colombia has swung further to the right this year as well if i was elected on a promise that he would rewrite a peace deal that he says is too lenient on fark rebels finally there is your ball son arab who some commentators have described as the most extreme right wing leader the continent has seen in the history of democratic elect. since they're so let's speak to carlos i say though in london he's a lot in america specialist based at i.h.s. market thanks for speaking to us so clearly though a bore about so narrow has won the selection in brazil so he has manag

we also bring you our interview with giuseppe conte and ask about his fight with brussels, yields, and budget law can be resized in any way. this is bloomberg. ♪ francine: saudi scandal, the cia director is scheduled to travel to saudi arabia. the nation is going through a crisis. the selloff is back. asian stocks sink. bank of america calls time on china's equity rally. assets under management tumble, shares fall two 2009 lows. i am francine lacqua in london. tom keene in new york. we have a busy day. we are waiting for president erdogan of turkey to talk. he is to mention the death of jamal khashoggi. we are waiting for the fii conference to start. later we have an interview with the prime minister of italy. we have gdp in the u.s. later this week. tom: the markets very difficult. dow futures, we don't have a print yet. nger.off, dollar stro francine: we will have plenty more on your markets. first let's get to first word news. president trump says he is not satisfied with saudi arabia's explanation of how jamal khashoggi died. he says he is waiting to hear from tremendously talented