time. jozsef varadi, ceo and cofounder of wizz air. up next, globals lost $4 trillion in value this month. some say it is down to the trade war, but what about the old go away?ll in may, we will talk about what is really knocking stocks. this is bloomberg. ♪ welcome back to "bloomberg markets," this is the european open. we are 21 minutes into the trading day and we are looking at an all-time low that bonds will set in terms of yields at the close of trading if they hold at this level. you were looking at bonds that are yielding, 10-your german debt, that is yielding -20 basis points. of course, you don't actually have to pay germany a coupon, but you just get back 99.8% of your cash at the end of that 10 years. very interesting indeed, what we are seeing in terms of the flight to safety, flight to quality, whatever you want to call it as these mexico tariffs spooked the entire market. equity tariffs may still show a green number for the full year, but for many investors, may was the month that markets woke up to a world of hurt. from a flurry of trad

states a new front in the trade dispute between the 2 countries a report by the state controlled global times newspaper said beijing was already making such plans a state official told voices on the same day that the mystic consumption would be the future priority of china is willing to meet what it calls reasonable demands from other countries china accounts for 80 percent of rare earth metals which are critical as we heard at military weapons. after a record breaking debut in new york in 2014 alibaba wants to work its magic again with a 2nd listing but the chinese e-commerce leader is reportedly looking to hong kong instead of new york so far. is that a wall street launch there raised $25000000000.00 and was the world's largest initial public offering move comes with china and the united states locked in an escalating trade battle beijing is trying to get its tektites titans released closer to home. nice doing business with you. kickoff special. 6 times on disputed european champions 2 world championships and the limbic victory. of a national soccer team but. should so. i'm told still germa

would open a new front in the trade dispute between the 2 countries report by the state controlled global times newspaper said beijing was already making such plans a state official told reuters on the same day the domestic consumption would be the future priority although china is willing to meet what it called reasonable demands from other countries and china accounts for 80 percent of rare earth metals which are critical for tech products and military weapons. and let's stay with china the country's economic transformation has been one of the biggest stories of the past decades since 1979 market reform and foreign investment have helped 700000000 people work their way out of poverty china's become the world's 2nd largest economy and the communist party says that because the because of reform only around $30000000.00 people now live below beijing's poverty line which is about a dollar a day the government says it can bring that number to 0 by 2020 as the next year meanwhile china's wealth gap is growing the richest 100 people now have more wealth than the poorest 2 fifths of the population co

>> he had a hint today from the foreign ministry and the global times.y made the point that the u.s. and china can work together on this, but also the global times made it clear that china is bracing for a fight, even if talks continue. >> china has said there have been very's commitments made and china honors its word and that has been for change. that is all we are hearing from the chinese ahead of the talks. >> the s&p 500 breaking below the 50 day moving average. it looks like there is no place to hide. >> you have a market that was in position for a complete breakdown in trade talks. they weren't position for the escalation of a trade war, for the possibility we will add 15 percentage points to those tariffs. >> i did get last night a beautiful letter from president xi jinping. let's work together. let's see if we can get something done. but they renegotiated the deal. they took intellectual property theft, many, many parts of that deal and renegotiated it. you can't do that. >> we have come off the lows quite a bit. it looks like we will close clos

opening a new front in the trade dispute between the 2 countries a report by the state controlled global times newspaper said beijing was already making such plans a state official told reuters on the same day that the mystic consumption would be the future priority of china is willing to meet what it called reasonable demands from other countries china accounts for 80 percent of rare earth metals which are critical as we heard military weapons. after a break of breaking debut in new york in 2014 alibaba wants to work its magic again with a 2nd listing but the chinese e-commerce leader is reportedly looking to hong kong instead of new york so far shares of alabama are only does that on wall street that launched their raise $25000000000.00 was the world's largest initial public offering the move comes with china and the united states locked in an escalating trade battle beijing is trying to get its tektites titans to list closer to home. ice doing business with you. i'm secure that by working that hard and in the end this for me you are not allowed to stay here any more we will send you back. a

but the "global times" said the response will be proportional but they've got more to go. so there's more here. yvonne: that tweet from the editor in chief as well, they mention they're considering what to do with the horde of treasuries. when it come to chinese retaliation, some sectors were spared, oil, auto parts, were any of these surprises to you? >> i think one of the bigger surprises to me was on the u.s. side in terms of leaving off maybe some rare earth minerals and some pharmaceutical things. it's interesting, these sort of exceptions, and both sides said there could be some exceptions, they hint at what those folks can't live without and certainly can't live with having increased pricing on. it's almost as if they're revealing pain points which is, you know, could be problematic later on if people take it that way. but i d think that -- i do think one of the key things raised in that tweet you mentioned that people should be watching for is what about stuff that's outside of this? right now you're walking -- you're talking about tariffs and about responses that

the united states to basically a game of russian roulette this is the the front page here of the global times you favor a very nationalist tabloid here in china and the headline says basically that any country that uses our rare earths and then seeks to contain china's rise will that will upset the people of china now that is quoting an official from the planning commission here in china a very powerful body and what he's effectively saying is that china is not ruling out using rare earths as leverage in the trade war with the united states not china at the moment controls about 70 percent of the world's supply of rare earths they're used in everything from you know fiber optics missiles magnets and the united states is a major customer and so far and this is significant the united states has not been so far levying any terrorists on rare earths but what china is now indicating and indicating very strongly is that perhaps it might start restricting those exports to the united states actually as a prelude to this statement of president xi jinping visited a rare earths mine in south central chi

>> we had a hint of it today from the foreign ministry and the "global times they both made the pointt the u.s. and -- times." they both made the point that the u.s. and china can work together on this, but also the global times made it clear that china is bracing for a fight, even if talks continue. >> china has said, "there have been various commitments made for us. china is credible and honors its word. that has never changed." that is all we are hearing from the chinese, ahead of the talks. >> the s&p 500 breaking below the 50-day moving average. it looks like there is no place to hide. : right now, you have a market that was not positioned for a complete breakdown in trade talks. they weren't positioned for the escalation of a trade war, for the possibility we will add 15 percentage points to those tariffs. pres. trump: i did get, last night beautiful letter from , a president xi, "let's work together. let's see if we can get something done." but they renegotiated the deal. they took -- whether it is intellectual property theft, they took many parts of that deal and renegotiated

exactly what that comment from the treasury secretary meant and exactly what they conveyed the global times that is a state affiliated newspaper in china and the editor tweeting this saying, i learned from authoritative source that china trade talks did not break down both sides think the talks are constructive and will continue consultations. the two sides agree to meet again in beijing in the future so that is the editor of this state affiliated global times in china. now it's unclear where the president stands on this he said yesterday he would be speaking with president xi jinping and unclear whether that call happened last night but the tariffs did get raised at midnight we expect to hear from the president later today at an event at 4:15 where he's honoring military mothers with the first lady he is tweeting this afternoon but about the disaster relief bill and nothing, again, so far on trade since the tweet storm from earlier this morning. guys >> kayla, thanks very much president trump was also on a tweet storm today about those talks. he said there's absolutely no need to rush sayi

the editor of the global times tweed. china may stop purchasing u.s. oericultural products and energy, reduceg orders and restrict the u.s. service trade withchina. many chinese scholars are discussing the possibility of dumping u.s. treasuries and how to do it specifically. a boeing spokespersonays the company is confident the u.s. and china will continue trade c discussions ae to an agreement that burn fits both u.s. and chinese and consumers. nonetheless, the stock fell more than 4 1/2%. >> what about that line in the chinese editor's tweet about china selling u.s. treasuries. china is the biggest buyer of our de. what wou happen to interest rates and our economy if it started selling those treasuries. ll adams is senior economist with dnc financial services group. bill, thanks for joining us tonight. >> thanks for having me. >> it's considered highly unlikely they would think about selling too many of their treasuries. what do you think -- i't it interesting they even brought it up? what do you think would happen if they did start thinking about se

to underestimate its ability to weather a trade war however long it lasts an editorial in the global times a communist party run newspaper warns quote no one should expect china to swallow better fruit that harms its core interests president donald trump escalated tensions on friday by raising tariffs on billions of dollars worth of chinese goods from 10 to 25 percent.

rainstorm can destroy a pond but not a sea we've also been hearing from the editor of the nationalist global times newspaper and he's saying that essentially it may be time for china to start selling the debt it holds in the united states in the form of u.s. treasury bonds and perhaps for china to start reducing its orders from aircraft makers like boeing now the 2 sides still have a window for negotiation because the new tariffs the china has announced won't take effect really for at least another 2 weeks and of course the terrorists that president trump raised on chinese goods last week well those tariffs were to fly applied to goods that left china for the united states after midday last friday so there is still a glimmer of hope but the time for those talks to happen is rapidly beginning to run out in new york times is reporting that donald trump jr has agreed to be interviewed by the u.s. senate intelligence committee the newspaper says the private closed door appearance will be limited to around half a dozen topics and would last no more than 4 hours that republican led committee had subpoen

he made his comments in an interview with the chinese newspaper the global times. and the vatican were so controversial. there are about 7 million catholics in china, and ever since diplomatic relations were cut between beijing and the vatican in 1951, their situation has been pretty precarious. —— 10 million. they have been split into two — an underground, vatican—recognised church which is subject to quite a lot of harassment, and an official state—sanctioned church, the patriotic association, the bishops, the clerics appointed by government officials. well, that's not an ideal situation. last year, pope francis said he had found a solution. he had done a deal with china, he said, in which both sides would agree on which bishops were to be a ordained and appointed to the dioceses within the country. that's good for the chinese because it means they can keep control of what could be a potential source of opposition. bishops ordain priests, priests work in local churches. that's where people tend to congregate, share their unhappiness, perhaps, with aspects of the

clear what those tears will apply to if they'll apply to boeing's products but the editor of the global times newspaper a some official newspaper in china said china may stop purchasing u.s. agricultural products in energy reduce boeing orders and restrict u.s. service trade with china so what's your take on the effect of this other set of recent events on boeing. i saw that had and i still wasn't really swayed by that because again i think china's demand for travel makes them reliant upon boeing one thing in need to understand is. if they're already flying on boeing airplanes then the pilots have been trained on boeing airplanes they would have to go through another set of training to switch to another airline they would also need to order all the backup parts the spare parts that they now have in stock for the alternative airline so in the end gam could there possibly be a change yes in the near future i don't think the risk justifies the reward for them to move away from boeing because they need them right and that's something we've seen as well in the reporting that it's not so easy to ju

given no firm date for when to go she may or may not resume we've since learned from the china global times editor it's a tabloid that is published by the communist ruling party in china that in fact there is a tentative plan perhaps to try and pick up negotiations again in beijing but that is still not clear in terms of the timeline so there is a little bit of optimism but i can tell you it is a lot less than it was early this morning but of course president trump has been saying that tariffs will actually benefit the u.s. economy what has been the general reaction that to this not just among politicians and congress there in washington but among business owners. well the feeling is that couple of things number one this is kind of a complex issue in the ordinary consumer doesn't necessarily understand how this is going to affect them they just know that it will because that's what's being reported alan fischer did a good job of explaining how that happens that there is a bit of a window of opportunity before the pain gets really bad in terms of the fact that rate now the higher tariffs onl

to underestimate its ability to weather a trade war however long it lasts an editorial in the global times of communist party run newspaper warns quote no one should expect china to swallow bitter fruit that harms its core interests president all trump escalated tensions on friday by raising tariffs on billions of dollars worth of chinese goods from 10 to 25 percent and the white house says top economic adviser expects china to retaliate with countermeasures. natural jordan in washington d.c. zeros and take us through what trump's been saying on twitter. well in the last hour loren the president took to twitter which is his preferred mechanism for talking to the u.s. public and he basically repeated a claim which economists across the political spectrum say is not true which is that china is now facing an additional 25 percent tariff on some $300000000000.00 worth of goods and that that money is going to go to the u.s. treasury what economists saying is that when tariffs are increased on goods made outside of the united states and then those products are sold in the u.s. what usually happe

adults in the room right now but state controlled media is not holding back in particular the global times newspaper which has a very sort of nationalistic leaning it has a very belligerent editorial on monday warning that the u.s. strategy right now was useless and also saying that china is prepared for a worst case scenario but the central thrust of the editorial was essentially this the chinese people have a far higher pain threshold than people in the united states. saudi arabia says 2 of its oil tankers have suffered significant damage in an attack on the cargo ships of the u.a.e. easy eastern coast the yes' government says 4 commercial ships were subject to sabotage early on sunday and says this happened close to the port of fujairah authorities say there were no casualties there's been no independent confirmation of the incident georgia o'keeffe hero is a fellow with gulf state analytics and he says the incident raises the stakes in an already tense region. as the white house is intensifying its so-called the maximum pressure campaign on the islamic republic officials in tehran are

the global times editor and chief said that was an opinion and not an official comment. said it was confident the u.s. and china would reach an agreement that than you cited manufacturers -- benefited manufacturers in both countries. there is more to come on "daybreak asia." stay with us as we unpacked the fallout from the latest trade tensions. this is bloomberg. ♪ bloomberg. ♪ jessica: this is "daybreak asia ." summers refers would headlines. president trump plans to meet xi jinping in next month's g20. the meeting could prove pivotal in the deepening divide over trade. stocks tumbled around the world as the u.s. rate tariffs on chinese imports and beijing hit back with its own measures. make a deal and warned beijing not to go too far in retaliation. china says a solution must be found. tariffs will not solve the problem. we never give in to pressure from outside. we are determined and capable of safeguarding our legitimate and lawful rights and interests. we hope the u.s. will meet china halfway to address each other's legitimate concerns based on mutual respect and

adults in the room right now but state controlled media is not holding back in particular the global times newspaper which has a very sort of nationalistic leaning it has a very belligerent editorial on monday warning that the u.s. strategy right now was useless and also saying that china is prepared for a worst case scenario but the central thrust of the editorial was essentially this the chinese people have a far higher pain threshold than people in the united states plenty more still to come for you here in al-jazeera including ringback. i would love to. picking up the pieces in mozambique survivors of not just one but 2 cyclons need all the help they can get. burned several social media platforms as concerns grow of a possible and to muslim attacks. how loud to the late spring low with cold to share is winding itself up in the north east of china this thing here and this is a frontal system which means it'll get cloudy and it will rain your feel a kick when it goes through a change in the weather type so 1st of all it will spread cloud across the sea of japan level sun to come out dayb

before is connected right now you know we had a story of that appeared on the front page of the global times newspaper here it's a popular nationalist newspaper but it essentially is putting the words rare earths and trade war in the same sentence and quoting a government official from the planning commission and what he's not ruling out is that rare earths might be used as leverage by china in its trade friction with the united states now why does this matter will china controls about 70 percent of the world's supply of rare earths right now and the united states is a major customer and rare earths are used in everything from fiber optics magnets to missiles now so far the united states has not been putting terrorists on rare earth for understandable reasons but what we're getting now is a very strong hint and it's a no bleak hint i have to say suggesting for the 1st time that perhaps china might start restricting those exports of rare earths to the united states now if that were to happen this would go from being a sort of sparring match between china and the united states to basically a g

adults in the room right now but state controlled media is not holding back in particular the global times newspaper which has a very sort of nationalistic leaning it has a very belligerent editorial on monday warning that the u.s. strategy right now was useless and also saying that china is prepared for a worst case scenario but the central thrust of the editorial was essentially this the chinese people have a far higher pain threshold than people in the united states the u.s. secretary of state might pompei o is done playing talk of war with iran last week the white house announced the deployment of extra warships to the gulf the commander of iran's revolutionary guard described the move us psychological warfare mr pompei o says washington does not want war with tehran but a change in behavior. we're not going to miscalculate our aim is not war our aim is a change in the behavior of the iranian leadership we hope the iranian people will get what they finally want what they did so richly deserve the forces that we're putting in place of course as we've had in the region before you know we

moderate but in the chinese language media if here in china the the language is far harsher the the global times newspaper for instance carried a very sort of belligerent editorial on monday saying that the u.s. approach at the moment was in its words totally useless and that china was prepared for the worst case scenario and i think the thrust of what chinese media is saying is a century this that the china's pain threshold is far higher than that of people in the united states you know china is aware china's leaders know that on this issue the democrats are right behind president donald trump but they also know that the people who are hurting in the united states at the moment include farmers in some of those swing states who may not be able to endure a 2nd year of losses and may not be so supportive of president from now that we're entering the electoral cycle in the united states an age in these growing tensions is it possible to gauge how the chinese people are reacting. well you know one thing to make clear nic is that there's no panic a don't see sort of queues outside the shops near the

rainstorm can destroy a pond but not a sea we've also been hearing from the editor of the nationalist global times newspaper and he's saying that essentially it may be time for china to start selling the debt it holds in the united states in the form of u.s. treasury bonds and perhaps for china to start reducing its orders from aircraft makers like boeing now the 2 sides still have a window for negotiation because the new tariffs the china has announced won't take effect really for at least another 2 weeks and of course the terrorists that president trump raised on chinese goods last week well those tariffs when to fly apply to goods that left china for the united states after midday last friday so there is still a glimmer of hope but the time for those talks to happen is rapidly beginning to run out trying to short break here al-jazeera when we come back they will not put us down then as well as opposition leader remains defiant after being shut out of parliament. and how what some voice calls are used to inject israeli spy ware on one and a half 1000000000 phones more and that stay with us. the

adults in the room right now but state controlled media is not holding back in particular the global times newspaper which has a very sort of nationalistic leaning it has a very belligerent editorial on monday warning that the u.s. strategy right now was useless and also saying that china is prepared for a worst case scenario but the central thrust of the editorial was essentially this the chinese people have a far higher pain threshold than people in the united states. voting is underway in the philippines for mid-term elections which could see the president wrote ricotta to strengthening his grip on power filipinos are deciding who filled $80000.00 positions including half the seats in the upper house or senate mr is aiming to have more allies elected to the senate so that he can push through some of his controversial policies including his crackdown on illegal drugs has the details from manila. when polls opened early this morning there was a strong sense of excitement millions of filipinos were eager to cast their vote and make their voices heard but as hours dragged on there had been

to underestimate its ability to weather a trade war however long it lasts an editorial in the global times a communist party run newspaper warns quote no one should expect china to swallow bitter fruit that harms its core interests president donald trump escalated tensions on friday by raising tariffs on billions of dollars worth of chinese goods from 10 to 25 percent and the white house is a top economic adviser expects china to retaliate with countermeasures we want to be as sure as we can be we don't think the chinese have come far enough we'll wait and see the talks will continue and i will say this is a g. 20 meeting in japan toward the end of june next month and the chances that president trump and president xi will get together at that meeting are probably pretty good a senior commander in iran's revolutionary guard has described a u.s. aircraft carrier in nearby waters as a target not a threat earlier the group's new head major general her saying selami said the u.s. doesn't have the ability to wage war against iran he also dismissed the deployment of more u.s. warships in the gulf

the previous comments you mentioned in the last question was coming from the "global times."t was an opinion piece that didn'tsome sources, necessarily reflect the chinese government. this is the mouthpiece of the chinese government but i read the whole thing and have to say, there is absolutely nothing new and nothing substantive from the chinese perspective. they are quoting academics that are spouting the party line as well as a commerce ministry spokesperson from a month ago. even though it is the front page of today's "china daily," there is no news. that leads to more speculation there is an impasse. david: probably why the pictures are so big to make up the real estate. stephen engle, live out of beijing. is still with us, jpmorgan asset management. let's have a look at how the uncertainty is affecting the growthcause you look at reports out of recent reports, south korea, hong kong yesterday. not just low. shockingly low. should i be worried economists don't seem to have a proper grasp of how bad the slowdown is in some places? marcella: we do see a divergence between

that was literally the headline in the global times newspaper, the communist party paper after presidentrump made the comment about china, saying the u.s. is not ready for a deal officially china's argument has been that they want a trade deal, but at the same time, they, too, have their red lines. foreign ministry says they want the negotiation to be conducted with equals and mutual respect the u.s. as you know, brian, has been playing hard ball with china, and the chinese reaction has been to only harden its stance we saw the anti-u.s. american movies, but also i wanted to show you a book that has been gaining more and more popularity this one is by a chairman and it's called "unprotracted war. it's about guerilla tactics against a much larger better equipped enemy that book has been getting popularity in the past couple of days finally over the weekend state media took a turn for the worse saying the u.s.'s demands are arrogant and they say the proposed changes, all of the hard stuff like tech transfers, state subsidies, all of that according to a someoxinhua repor imperative they now

any stand out from that is the global times, which is a very belligerent, hard-hitting tabloid which more leeway to say things other state media doesn't have. they had an editorial which said if the u.s. refuses to do a deal and goes into the election, it's going to take an economic hit. the u.s. will be the biggest joke if it doesn't do a deal with china. a much more aggressive tone. across the rest of the state media and the main business papers, you seem to be seeing a repeat of what was said yesterday and nothing else. rishaad: how bombastic is the tone of these tablets? if people want to find out, are there anonymous blogs they can go to? james: it's a very bombastic newspaper. ought to tell how much this represents the real feeling and china and how this represents the editor in chief. it already has a lovely way to say stuff others don't. you assume the government is okaying that. it's very bombastic, but it's hard to tell. there are other places to go. it has more information. but as i said, it's very controlled and censored here. rishaad: thank you very much indeed for that.

times. it really looks at the global, notjust the financial times. it really looks at the global, notjust the mexican or american impacts of tariffs on mexico. this is a thing happening in a faraway place, you would think, but trump has imposed 5% tariffs on all trade goods between mexico and the united states but this has an impact on our pensions, because there is obviously a trade war already in place between the us and china, £200 billion worth of goods, and it is tragedy for mexico that this happens, 80% of it back support —— exports go to its northern neighbour, and he is using a sledgehammer to crack a nut. it is using a trade policy to deal with a social issue, migrants on the border. but it is more strong arm tactics from donald trump, and it does seem to work, it grabs people's attention. we said here earlier on about entering a leadership contest, thatis about entering a leadership contest, that is a breach of protocol, donald trump does not do things the conventional way. we are hearing from people on the bbc, who it is going to hit, peop

rainstorm can destroy a pond but not a sea we've also been hearing from the editor of the nationalist global times newspaper and he's saying that essentially it may be time for china to start selling the debt it holds in the united states in the form of u.s. treasury bonds and perhaps for china to start reducing its orders from aircraft makers like boeing now the 2 sides still have a window for negotiation because the new tariffs the china has announced won't take effect really for at least another 2 weeks and of course the terrorists that president trump raised on chinese goods last week well those tariffs weren't a fly applied to goods that left china for the united states after midday last friday so there is still a glimmer of hope but the time for those talks to happen is rapidly beginning to run out. north korea is demanding a return of its cargo ship seized by the united states john yang says a seizure goes against the spirit of the recent summit between the united states and north korea the vessel was detained in indonesia last year into 2 american samoa on saturday washington says the vess

>> well, it is interesting cctv, that is bbc of china and global times, the tabloid of people's daily, i think this first time in living memory they have gone after a private citizen, that shows how nervous they are, it shows that president trump gets the economic war, they are in shock that donald trump stood up to them, said, i'm not signing some trade deal with -- we don't have you commit to start to restructure your economy, to fit into the world economy. really it stopped this economic war on technology front and force technology transferred, trump's deal with light -- was a well thought deal, the reason that donald trump is president, the working people in country, the demore ables understood that the elites had managed decline. you see it remember they rejected that, the chinese, drafted off that for 20 years. wall street, london, corporatist, they made a ton of money shipping my high-value added jobs to china, they were not prepared to have a guy like donald trump say, we're not doing this deal, you have to commit to stop the cheats or stop the theft, and commit to alike a goo

the editor-in-chief of global times, mr. has a long tweet today saying this is all good, we're going to turn on our own efforts from now on for research and development. of course, i think he means the theft will still continue, but he wants to have a more separate, can decoupled, if you will, e chinese economy from us. it's a bad turn in chinese politics to see the hawks have this much power. lou and there's also, perhaps, a turn in this country too. rather than negotiate our security for intellectual property, our technology or innovation, perhaps it is well past time that the united states protect itself and secure its own properties, intellectual property in particular. do you think that's possible? >> it'd take a lot of effort, because they've gotten away with murder, as president trump says. but, lou, i hope you noticed president xi is kind of responding to your program. you've had some guests talk about sievizational challenges between -- civilizational challenges between the u.s. and china. president xi is saying it'

the editor for the global times newspaper tweeted that china is seriously considering restrictions onports to the u.s this morning the paper said the u.s. should have seen that china has the rare earths card and the official people's daily posted an editorial saying don't say we didn't warn you. analysts say it'd be difficult for china to pull the plug on the u.s. right away since the u.s.'s direct imports of rare earths are relatively small and other countries that would use the minerals in their products probably wouldn't be subject to any restrictions cnbc business news, beijing. >>> the u.s. treasury department said none of its major trading partners has met its criteria to be considered a currency manipulator, but the department said it still has quote, significant concerns over china's currency practices and it insisted that it would continue to monitor the country. in a new report, it called on beijing to be more transparent about its exchange rate and reserve management goals the treasury department included germany, and italy on the list of nine countrys th s. >> all of those

in response, china's global times saying the system is, quote, beyond the understanding of western culturesjust can't handle it. so much so that the website bark.com is offering counseling sessions to help fans move on. not only is the series ending, causing headaches, but season 8 is angering fans. we told you about a petition to redo the entire season last week and now that petition has reached over 1 million signatures. as if that wasn't enough, more than 10 million people are expected to call in sick to work today, following the series finale. i'm sure if people do actually show up to work, they may not be as productive, maybe they show up late. ashley: that's true. i want to point out, lauren and cheryl are apparently so distraught, they couldn't make it in this morning. the final season was $15 million per episode, that worked out to $90 million. hbo said it's not going to happen. tracee: a lot of actors were offended that fans didn't like the ending, they were appalled that fans would want them to redo it. ashley: do you watch it. tracee: i do not, know. ashley: neither do i. tracee:

globally. i think that was probably the proximate cause. also the s&p spent a lot of time right on top of the lower end of its recent range. support levels around 2800 it didn't break. maybe that was enough to give a little bit of relief at least pour now >> when you hear things, stephanie, like we're not at payne levels on the vix or on retail sentiment, how does that make you feel? what does that signal? >> i think retails, he hthey mi the whole rebound from the december lows. actually took out $80 billion from november to december last year and then over $100 billion they've taken out year doto date so they have been pulling back for a very long time i don't really read a lot into it other than they're cautious that makes me more positive as a contrarian and trying to be a contrarian but you know, we are kind of hostage to every day these headlines. you have to either ignore them or you have to pick your spots and just have faith in the long term that's what our firm does. >> you like some of the brands the strong brands. >> i do. i always look at if i can get the numbe