euro swedish krona, and the krona is the worst-performing g10 currency.he spike there in the euro. the krona is weakening against the euro further. we are now 31 minutes into the trading day. going onok at what is in the session as far as stocks. the biggest winners and losers in terms of percentage gains. safran is the biggest gainer after earnings beat expectations. melrose industries is rising. a good day for ex dividend stocks. losers, at at the least a dozen stocks going ex dividend today. they do weigh on the index. let's get the bloomberg first word news. donald trump has demanded the new york times revealed the identity of the senior official who wrote an anonymous op-ed. ter said he or she and others in the government have vowed to support the president's hee misguided impulses until is out of office. he says the root of the problem is the president's amorality. >> they were forced to apologize to their subscribers. they wrote a letter of apology. they covered the election incorrectly. if the failing new york times has an anonymous editorial, mee

definitely holding down the krona for a while. that mean you would be selling any strength in the krona? it is a strengthening in today's session. >> to be honest with you i think it is a very volatile path ahead. taking a trading stance on day-to-day outcomes is going to be difficult. as politicians prevaricate over who they will or will not do deals with, how do you look at the broader equity markets in sweden at the moment? >> it is important to note this is fundamentally a strong economy. fundamentals.ying i think it can run on autopilot for some time. it awaits the formation of a new government. i think the main aspect on the financial market is going to be the exchange rate. less of an impact on equity markets. there are other factors playing into the equity markets. could lendeek krona support to some of the cyclical investors. nejra: what does this mean for the outlook for the bank? >> this is a political complication. on actual economic policy, the differences are not that big. the riksbank i assume would be really affect

. >> in the short term, we have seen the swedish krona capture a few bits.t is rising against the dollar. why? democrats could have done much worse. the conservatives could have done much worse. i think from the established parties, it is a bit of a relief. now i think economic policy will be to some extent on autopilot. the market takes a kind of relief. >> one of the questions a lot of foreign observers will be asking is to what extent the sweden democrats will get some sort of a say in swedish politics going forward. a lot of folks were saying before this, if we see a populist surge in sweden, to what extent does that pass as a more general movement toward populism in europe? what are the implications of that? >> the problem is that the swedish democrat is obviously populist. i do not think any of the established parties are willing to base their governments on them. it is pretty clear that have already won the issue of migration. there will be very limited migration in the next four years. the social democrats in the moderates are really helping that in

-- the weak krona.r,r -- fiat kkr offered less than the 6 billion euro valuation which ended the x facility of the talks. the italian carmaker can evaluate other offers it received while it prepares to separate the milan-based company and distribute shares. david -- jamie dimon says he is done with politics. that he has no intention of making a run for the white house, saying the current administration is handling the economy well. last week, he boasted he could beat the president in an election before rapidly backing away from that claim. >> i shouldn't have said it. more out of frustration and my on mckee's not, but i should not have said it -- my own much ease know, that i should not have said it. much.ne: thank you so frankfurt as its post-brexit hub. is assuming there will not be a deal between the u.k. and the eu. >> we are preparing ourselves. is fact, whatever solution coming out, de facto no longer relevant for us. a few weeks ago, we had to make a decision to go and execute for a worst-case sc

i have to ask about the swedish krona in light of this election.his something you're positive about >> we're quite brearish on the swedish krona. you have also not the election but the riksbank meeting on thursday we don't think they'll signal a stronger tightening path so that's coupled with what looks to be asymmetric downside risks. the most likely outcome is that it will be messy, probably be protracted period of political uncertainty, again both just negative in the short run. >> isn't that already in the price? we've seen -- we've talked about the carry trades it's been used as a funding trade because of the issues you cited. don't you think much of that is already in the price >> a lot of it has been the global story a bit has been the domestic story. there's more domestic pain to come we have it going up to 11 by year-end that's how bearish we are. >> that puts the riksbank in a difficult situation and that depends on what happens on the september 9th elections. another curren there's a lot to like about the nor rewegian krona you have elev

. >>> sweden's prime minister will step down after he loses a vote of confidence sending the krona lower against the dollar. >>> comcast gets busy buying up sky. the u.s. cable giant acquires over 500 million shares at its offer price and is looking to buy more to reach its 50% target. >>> and next raises its full-year profit guidance after sales in august and september top expectations despite an uncertain year ahead >>> good morning happy tuesday. let's look at how markets have been doing yesterday i should tell you that the dow saw its worst day in more than six weeks. this is on the back of a flurry of conflicting reports about the future of the deputy attorney general, rosenstein. we saw the u.s. index dow ended day about 0.7% weaker in the session. china coming back from holiday, also slightly weaker performance there. you can see in europe, the overall index is bucking that weakness about 0.2% stronger an hour into the trading session. let's get into individual bourses. get deeper into the stories driving some performance today ftse 100 is very much the focal piece. we have lots o

>> they do go into this meeting with a pretty weak krona.t is something that should push them in favor of an interest rate hike this year. they haven't outward speaking -- they have an outward speaking bank. they are very candid. have indicated they will be hiking interest rates by the end of the year but the market is extremely skeptical. there is not much of the year left. to see whether or not they will hike, the fact that the swedish krona is so weak is something we can argue in favor of the hike. i am still reasonably optimistic that we will get that hike but i think today's message is -- can really make or break that perception. anna: thank you very much jingle, head of fx strategy for rabobank. they are said to have dropped some key brexit demands in britain. could a deal the insight -- be in sight? -- we arerom the eu joined for next lose of us plenty ofnging coverage. this is bloomberg. ♪ manus: another day, another set of headlines. turkey day in the italian press. this time from the leak and five-star artists -- government is head

we see it in the green here in the euro versus the e-krona. this is the swiss gaining.ranc as a safe haven bid comes in thanks to create concerns and a new round of tariffs. finally, the pound versus the dollar strengthening today. some optimism in the market it will be able to reach a deal with the eu pre-brexit. of course, a weakening dollar helping out this picture. that is a look at european markets. vonnie: we have the vix higher by a price margin today at a dollar index a little weaker. this because we are getting a little bit of a respite when it comes to emerging-market currencies. canadian dollar and mexico peso bush leaguer given that we have gridlock still on the canada portion of the trade talks. 38 for the mexican peso. 67.de oil now trading at 68.8 -- 67.68. let's move to global macro .m.m., where we shall see we are having a pretty negative day when it comes to other emerging markets in countries like russia. dani mentioned this. .89 again, copper up 1%. romaine: thank you. with a third quarter full of uncertainty from italy to midterms to trade, were nex

versus the dollar, the krona is trading on the back foot today, about 0.5% weaker. perhaps because this hike was fully priced in. >>> the swiss national bank has kept its rates on hold as expected citing the fragile exchange rate situation and rising international trade tensions and protectionism the central bank kept its view of the swiss franc as highly valued and said it remained ready to intervene to stem the strength if necessary. the bank raises expectations for the swiss economy this year and cut its outlook for 2019 and 2020 >>> the white house has nominated former fed economist nellie liang for a seat on the board of governors she is a firvisiting scholar she has been credited with developing the fed's office of financial stability in the immediate aftermath of the financial crisis >>> double line capital's jeffrey gundlach says a game changer for the bond market is on the horizon he's telling investors to watch out for a rise in treasury yields saying a two-day close above 3.25% would see bond prices across the u.s. yield curve fall. >>> jpmorgan's jamie d

i think it's interesting to look at the swedish krona are -- krona.ne of the worst pursuit -- worst-performing currencies today. decimated up until the election. currencysee the falling. actually gaining some ground against the dollar because the dollar rises in kronor. that's it for the european open. bloomberg surveillance is up next. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. nejra: china sticks to its guns. beijing says it will negotiate with a knife to his neck. stocks drop. the argentine president tells bloomberg there's no cha

third quarter pretax coming in at 3.0 one billion swedish chroma -- krona.stimate was for 3.2 so that is a miss on the call. you want to focus on the headlines coming through. this is an important thing to 15 .2%. 15.2% so up the estimate was a rise of [indiscernible] the third quarter pretax number was a bit of a miss. store sales impacted by logistics problems and they lead to 400 million swedish krona, extraordinary cost. online sales increased by more than 30% in the third quarter. h&m saying that the positive market situation for external factors in the fourth quarter. saying coming through more indications that we are on the right track so h&m trying to give a positive message to the markets, will the markets listen when markets open in an hour? let's take a look at how futures are looking. we saw the u.s. session close lower and that was down to the final 20 minutes of trade. in u.s. features that we look at earlier, pointing higher, a different picture in europe am a the ftse, cac, and dax futures trending higher by .3 of 1%. we could see a weaker op

experts say that people are more -- the swedish krona strengthened on the news. they tend to raise rates in the next six months. that could be next december our next february. they have always delayed these hikes. for the moment, the are starting to believe there is a chance they will get a rate hike sooner rather than later. thatentral bank made clear the political merry-go-round will not affect interest rates. david: let's come back to new york and the speech that president trump just gave. let's play a little bit of what he had to say about iran. >> they do not respect their neighbors or borders or the sovereign rights of nations. instead, iran's leaders planner the nation'z resources -- the resources to enrich themselves and to cause mayhem in the middle east and far beyond. anyone who thought there would be an olive branch extended to iran were clearly wrong. john bolton and mike pompeo at ane keynote speakers there was talk before the summit that president trump and president rouhani might meet somewhere along the way. that is clearly off the table. wasd: o

we are also seeing those swedish krona no posting some losses. report that missed analyst estimates. , the dollarruble falling against the ruble after a decision from the russian bank to raise interest rates for the first time since 2014. >> breaking news on blackstone. it's expected to raise $18 million for its biggest real estate fund ever. it is expecting that it will raise 18 elegant dollars. -- billion dollars. we will bring you more as we have it. a spokesperson declined to comment. for a look at u.s. markets, we can see that the dollar index has regained ground. it is still below 95. partially because of the currencies that are moving including the turkish lira which is weakening today. it reading a lot of ground. the ruble is down. the two-year yield i want to point that out because it is rising. it is now at 2.78%. let's have a quick look at the macro movers. crude finishing out around $69. primarilyis stronger because of the central bank action of the 25 basis point increase. you can see the other commodities are losing ground again as

carola: a more sort of general concern is it does not feel representation of the swedish krona. a bit like doping actually. .t can hide for politicians it is a little bit too good to be true. it helps. of course it helps with exports. but it will not remain like this. we might run into real problems and the stock getting to a realistic value. stephan has refused to step down. is it needed for things to progress? carola: no, not really. he needs to for constitutional reasons. that is how we do it. for people that have been around for a wild, they know they have a social democrat government with very difficult reforms as well as conservative governments. it is not as easy as saying social democrats are bad and conservatives are good. it is more the last four years when the social democrats have been very dependent on the left party, that has been perceived quite negative by the business community. ourwhen he came to there were -- power, there were many people that said he knows the industry, has experienced, understands what companies need. they did not act that way for four years

the krona has reached its keyest level th ahead of a policy meeting tomorrow.ates for the first time since 2011. een ared steve k still with us. when you look at some of the nordic currencies, is there one we should be watching out for? elsa: it was a very popular trader earlier this year. it has taken up a little bit in popularity, but this time people are shorting the swedish krona than the other way around. on the norwegian side, there's consensus. and was the favorite pick this week. francine: when you look at dollar flows and the emerging-market currencies are headed, where do you see value? elsa: that's a really interesting question because at the moment we have seen a bit of a pullback in dollar em. we like taking other side of that trade at least technically. you are seeing a lot of people using this as an opportunity to get back to those long dollar e.m. trades, but if china is going to take a more measured approach, it could be a decent environment at least in the short run. tom: do you see the amplitude you saw a number of months ago with a significa

result of thethe incredible drop in the swedish krona? it's the worst performing currency and all of the g10, losing 10% of its value. guest: i think that's part of the swedish monetary policy that's been going on for a while, actually. it's not just the political turmoil. the natural bank -- national bank in sweden wants the k rona to be low to improve the export. guy: in terms of the determination to vote, how undecided or decided are the swedish people in terms of where they are likely to put their x in the box on sunday? how predetermined is this? guest: about 60% have more or last completely decided today what they're going to vote on. about 10% of voters have already placed their vote ahead of the day. but what could happen is that we might see shifts in right-wing consolations between the parties, and the same with the left side. and what we need to focus most is the flow from voters from the swedish democrats to maybe the moderate party. that could happen very late. see the results, is there a possibility that you can see the curr

longer trusted inflation and interest rates rose that was so bad the icelandic national currency the krona was worth not a lot more than the zimbabwean dollar which was barely heard anything the difference in iceland though is the banks were left to fail. a country not on that list though is germany a robust strong european economy which managed to steer clear of trouble but there are those who accuse germany of being too strong certainly in its financial decision making which they say helped wreck the greek economy in the end the list bailouts lawrence reports from berlin on how that stance is being viewed a decade later. in the corridors of power in berlin there are reasons to be cheerful ten years ago the german economy was so well insulated that the big crash was never going to cause a crisis so much has changed in other european countries but not here in the first six months of this year alone the german economy run a budget surplus of over fifty billion dollars that's almost three percent of germany's gross domestic product or annual wealth it's the kind of figure that makes other co

trust there inflation and interest rates were rising it was so bad the icelandic national currency the krona was with not much more than the zimbabwean dollar the difference though in iceland those that its banks were left to fail not on that list is germany of course that was an economy which managed to withstand the financial crisis mostly on the scale youth but there are those who accuse germany of being too strong certainly in its financial decision making which they say helped wreck the greek economy or it's the reports from berlin on how that stance is viewed now a decade later. in the corridors of power in berlin there are reasons to be cheerful ten years ago the german economy was so well insulated that the big crash was never going to cause a crisis so much has changed in other european countries but not here in the first six months of this year alone the german economy around a budget surplus of over fifty billion dollars that's almost three percent of germany's gross domestic product or annual wealth it's the kind of figure that makes other countries either extremely jealous or ab

look what has happened to the krona.not gone down and it turns out as far as we can tell, the markets care more about the likelihood of a rate rise in december than about the politics. alix: totally. up.ve that you brought that a lot of that political jockeying sounds like the u.k. and italy and that you have a government that cannot function with each other and there turns out to be no good solution. david: even germany. alix: that's true. david: we have the chancellor of germany apologizing as they have about thendal securities chief. alix: coming up, an exclusive interview with bob dudley, bp's ceo as we dissect the rally we have seen in oil. this is bloomberg. ♪ alix: won't negotiate with a knife to its throat. china digs in its heels and blames its trading stance on the u.s. follow the new leader. health care industrials steal the spotlight from tech. david kostin, goldman sachs chief u.s. equity strategist helps us break it down. the market turns bullish after opec ignores president trump's tweet for lower prices.

and then the 1952 film, long jeans krona scope. watch hawaii weekend, next weekend on c-span , book tv, and american history tv. listen to hawaii weekend on the free c-span radio app. we are preaching honolulu mayor kirk caldwell, saturday at 10:00 a.m. eastern.

the fashion retailer offer discounts to clear out inventory, plus a boost from the swedish krona.ced increasing come petition from online stores. and abu dhabi's sovereign wealth fund pushing ahead with what could be the largest oil ipo in a decade. the investment committee will offer a stake of 25% in the spanish oil company. the offering could raise $3.5 billion. bloomberg has learned that they want an ipo rather than a sale, after bidders were never down to the carlyle group. and the largest beverage company may be getting into the cannabis tricks business. according to bloomberg television in canada, coca-cola is in talks with a canadian marijuana producer to develop cannabis tricks. cook says the interest in this says nos in cbd, but decisions have been made at this time. that is your bloomberg business flash. alix: now we turn to wall street beat, we cover three things this morning. the financial regular scolds the bank for failure to oversee a fraudulent wealth manager. and the hedge fund seeking its largest real estate fund ever and dimon jobs politics, after saying he cou

and then the 1952 film, long jeans krona scope. watch hawaii weekend, next weekend on

-- we are krona live with the governor of the world's largest central bank this morning.mberg surveillance." scarlet is in new york in for tom keene. we go to politics in the u.s. to politics in italy. i just wrapped up an interview with the former prime minister, tony blair. we talked about brexit. he is trying to push for a second referendum because he says that is the only way out to get elegantly out of this brexit. scarlet: he has been pushing that second referendum for a while. the president in the u.s. now on a rampage look for the person who wrote the anonymous op-ed in the new york times. we will see how that all plays out especially has he begins to -- as he begins to campaign for the republicans. francine: let's get the taylor riggs. taylor: president trump calls it a matter of national security. he is demanding that the new york times revealed the identity of a senior official who wrote an anonymous op-ed article of -- arehat members working against him. says he is open to accepting stronger steps to get rid of nuclear weapons, but that is only if the u.s. tec

and then the 1952 film, long jeans krona scope. watch hawaii weekend, next weekend on c-span , book tv, and american history tv. listen to hawaii weekend on the free c-span radio app. we are preaching honolulu mayor kirk caldwell, saturday at 10:00 a.m. eastern. >>> next, discussion about the future of the nuclear is h and between the u.s. and north korea. speakers include a former u.s. ambassador to south korea, and a former south korean national security advisor. this is hosted by the korea economic institute of america. this is an hour and a half. >>> good afternoon. i want to welcome you here to the korea economic institute. we are fortunate today. we have a very distinguished panel with us. we are talking about an important issue. how do we develop the negotiation strategy moving forward with north korea. we have fortuitous timing. i will be honest. we did not know the summit would be ending when it did. that is well-timed for us. i want to move through things relatively quickly. we have a lot to discuss today on important iss