manus: i am manus cranny. today is a little bit risque.asn't the t-boned market that its key boots on. we are going to jackson hole. the market is getting worried about the debt ceiling. states coulde net be under pressure. what does the market do? they want their money and they wanted now. they want a premium. -- they want it now. they want a premium. they want their money for october and that king in the you curve is because -- in the yield curve is becoming more pronounced. they want a timely readdressing of the debt ceiling. manner. a timely anna: they are concerned if they do prioritize the repayments, what does that do to the other parts of this spending obligations? it would be in uncharted territory. we'll discuss that later. in terms of the reaction, it was interesting when we were covering trump and everything he has to say about the wall and nafta, he didn't seem to move markets all that much. it didn't seem to make markets fall off a cliff. by .1% on the msci asia pacific. still another date to go before we hear from yellen and

manus: where does that slelf ca p come in? >> is hard to say, manus.eauty of the shale production is, with the cost-cutting, we cannot really be sure what their ability to ramp up production is. i suspect you are right, somewhere in that mid $50's range. anna: thank you, neil atkinson. fascinating conversation around the oil story. manus: south korea's president says the military action against kim jong un requires his nation's approval. this is bloomberg. ♪ ♪ manus: u.s. defense secretary james mattis ones that north could strike on guam quickly escalate to war. asian stocks rally as kim jong-un says he'll observe washington's conduct a little more. anna: in could quickly escalate to war. washington, the third ceo to quit president's business panel has been a class over handling of the riot. opposes.k. government it. of tariff free trade after brexit. >> and serving the part. investory act best sending the stock surging in the u.s.. ♪ manus: welcome to "bloomberg daybreak: europe." welcome to the program. ; k london, let's talk about the german growth

manus. manus: juliette, thank you very much.ressure following the dollar plus rebound, and now a major australian producer says, to beat the global slump, mining companies need to go underground. goldman sachs estimates supplied will be this year, and the executive chairman of northern star resources says, smarter exploration and lift output. let's get to paul allen. he joins us from the diggers and dealers conference in western australia. all, good to see you this morning. a lot of the aussie gold miners are sitting on healthy cash piles. we heard this from one of the gold miners here last week. he wants to keep a hefty bit of cash on the side. are we expecting to hear news of acquisitions? there is no doubt that the aussie miners are sitting on an awful lot of cash at the moment. the top 10 miners between them have about $1.4 billion cash piles. but as to how to spend that, there is a difference of opinion. tolier here, we were talking ceo bob bessey. he said the company would be looking at acquisitions, possibly even mergers,

manus: thank you very much.orth is the legal and general ceo, it is time for people to change the record. thank you for your take here. g4s joiningceo of us for his first interview of the day. we will go through the numbers. this is bloomberg. ♪ manus: it is 7:19 a.m. in the city of london, this is a market look. futures are looking at the moment just like -- slightly stronger by .2501%. 10 year government bund yields are flat at .4 of 1%. for some reason, i do not think that reflects the true situation. oureuro stoxx 50 right now, apologies in terms of data. down .6 of 1%. london, paris, and frank for down, paris down .8 of 1%. markets are lower. shery ahn is standing by. shery: thank you. disney has outlined plans to sell some of its premier content directly to consumers online starting next year. the world's largest entertainment company will offer live sports and animation. to pay-tv providers. shares fell in extended trading is losing aix who key supplier. >> the distributors will look at this more as a thr

manus: thank you very much.he central bank forum, fed officials offered opposing views on the inflation debate. another rate hike is said to be feasible this year. kaplan calls for patients. >> -- calls for petience. >> you have to understand that historic cyclical forces and the models that would have suggested be hase impact would been offset by new forces. think those are having an immediate effect on inflation. manus: mario draghi and janet yellen will deliver their speeches today to investors. now is kathleen hays. thank you for staying up silly. -- staying up so late. expecting?u >> i love that bingo card story. it is clever and delightful. when of the cards would have to be inflation. it is a been conundrum. -- it is a big conundrum. people were probably hoping that janet yellen might -- that would be of boosting inflation, but instead the topic is going to be financial stability. financial stability and raising this question could be raising the question that jacob frenkel raised. j.p. the chairman of mo

manus: thank you very much.as much as 18% in late trading as it reported disappointing second-quarter numbers. it is short of analysts estimates of a the fear that competition from facebook is potential. snapchat announcing earnings, the second quarter since the ipo of 2017. they are not too far from what the estimates were, but not too good. lost $449 million. wrap your head around that. that is hard to do, but he managed to pull it off. -- but they managed to pull that off. user growth has slowed down for snapchat. was that at the ipo when facebook him out with a copy of a snapchat service, instagram stories, that the that slowed down might have been caused by facebook and instagram. the growth rate continues to be slow, continues to be a worry. it looks like a problem for this business. they are losing so much money, revenues are not going that fast , and user growth is not accelerating. stock trading is down big time after those results were posted. we will see it means -- we will see what it means for the l

manus. manus: juliette, thank you very much.reaking news coming through from the nikkei newspaper reporting that astrazeneca made for a japanese pharma company. it is trading at 6.5%. biggest that is the one-day move since november 10, 2016. ¥13 billion has been added to the value of the stock. this is according to nikkei business. they do not accept the bid but the possibility of an acquisition does remain. we are roughing along their. m&a -- along berin:. m&a is a rough thing. let's go back to one of our big themes, the data from china. it strengthened in august, manufacturing pmi strengthened to 51.7. that was a headed -- that was ahead of the economists forecast. tom mackenzie joins us from beijing. good to see you. this bodes well in terms of china, or does it? what does it tell us about the current trajectory of growth? a lot can change after a big congress. tom: that is an important emphasis. the economists seem to be around the consensus that this data in terms of the pmi number does flesh out a stronger second-half grow

manus: thank you. north korea has fired a missile over japan reigniting tensions words between pyongyang and the united states. anna: south korea has promised a show of force in response to shinzo abe spoke with president trump iphone and describe the launch as unprecedented. manus: the world leaders including abe and trump have had phone conversation, agreeing to more pressure on pyongyang. nothing from the white house formal yet. what kind of responses could they be weighing at this point? rex tillerson is still, was on sunday still in favor of negotiations. have seen the u.s. trying to get dialogue going again, praising kim first-rate. this was very provocative act, shooting the missile basically directly over japan. now to go back to the drawing board in a sense. and they will be looking at what u.n., japanwith the has called for an emergency session of the yuan security council. what sanctions can they implement, can they tighten? including food and fuel exports to north korea which are a vital ec

manus: thank you.enior investment manager at aber zone standard, we're listening for more numbers to drop. when you look at the phenomenon run, for you as a bond manager, you look at these equity evaluations and you have a lovely line that everything eventually fines -- finds -- is drawn to gravetifment >> i talked to them about whatever we're calling them this week. this is a question about value and growth. these kind of growths go -- stocks, i've been there before. i was managing equities in the late 1990's. this time, there is revenue growth. that is different. but you're still seeing companies that are burning cash flow like amazon with a debt issue the other day. you have to be cautious. did go in for some long debt. we didn't buy any of the u.k. debt. just didn't look attractive. anna: the rates are -- it is un-- why a company would go out and issue over 40 years. you have confidence enough in this business model over such a long time. >> i think even if you buy it you're not taking a view for 4

manus: thank you very much.ore to come. ♪ got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over here. find your awesome with the xfinity stream app. included with xfinity tv. more to stream to every screen. londonit's 6:30 a.m. in and 2:30 in the afternoon in tokyo. that's the emperor's palace. lackeding of fairly dollar-yen. -- a fairly flat dollar-yen. just waiting for some numbers to omb, the the pike on oil and gas producer. we will get those details very shortly. nejra: we've seen two days of strength falling on geopolitical concerns. take a look at one week volatility and one month risk reversals. were still seeing some risk aversion elsewhere in the market. in asian equities, some msci-based losses, the down, the hang seng heading for its biggest decline of the year, among the biggest losers out of the asian equity benchmark. if we look at the korean won, after the new zealand dollar, comee

manus: thank you. joining president trump's staff, anthony scaramucci has been removed from the white house as medications director. this happened as john kelly's first day at the white house as chief of staff. anna: last week he profanely criticized bannon and priebus. form on -- for more on the are the new chief of staff's priorities and what is the president looking for from kelly? jody: discipline. it looks like what they need right now and with the president realizes they need as his close advisers is to stay on message, to move past constant turmoil which is what we are talking about today. a unifiedcus on message, they want to move forward with legislation and the thought is that i having a general, retired general who is respected with direct powers of the president and more authority than his predecessor had that that might allow them to do that. manus: how likely is it that they will move past this turmoil, you read some of the op-ed's and they talk about an implosion at the white house. jody

matt and manus.att: juliette saly joining us with an excellent chart from the bloomberg out of singapore. ray dalio has reiterated his warnings against exposure to risk arguing that politics will probably play a greater role in affecting markets that we have experienced in any time before in our lifetimes. ceonew linkedin info earlier today. in there any bright spots this morning, in the risk that he sees? it is kind of depressing to read that this is a guy fighting mentality for the u.s. government rather than doing everything in the best interest of the country. similar did make a warning two years ago. it is not like somewhere fresh out of nowhere. he said this two years ago and it did not come about then. his warning is generally valid. there are risks at the moment. we clearly are in a populist phase and it is worrying. we are trading ok today because it is quiet and call him. if markets can get through the end of august without a more severe it -- severe time of risk aversion. there is a risk o

manus: coming up.ed lines fade to gray as the british prime minister makes a concession on eu laws to aid brexit talks. we will bring you the story. this is bloomberg. ♪ , 720 a.m. in back london. futures will be a little bit lower at the start of the european trading day. president trump talking about nafta, talking about the border wall, talking about the possibility of a government shutdown in fighting form in arizona. let's have a quick check on the market. will be weaker at the start of the trading day. pretty unchanged on the german bund market. the market in dubai, middle east market a little more [inaudible] the state of play on the markets, juliette saly is standing by. juliette: nikkei companies are getting more worried about the economy and feeling less confident in spending money on hiring or investor -- investing. and index of economic decision has fallen to the lowest this year. saidndents to the survey they are still looking to hire, confidence has diminished. great wall motor has worked

manus: u.s. treasuries at 2.2 6%.ket does not believe that the fed are going to be able to execute everything they anticipate to do in terms of rate hikes. lackluster auto sales, we saw treasuries jump. they are not spending what the federal reserve had hoped to do. buttonsve a look at the and the o.a.t.'s. and theetting started ing cfo said the markets had priced again, getting a slight -- getting slightly ahead of themselves. anna: here's juliette saly. juliette: u.s. president donald trump was involved in crafting a statement released by his son about a meeting he had with a russian lawyer. a white house spokeswoman sarah huckabee sanders said trump weighed in as any father would based on the limited information he had. it provides an account of the events that conflicts with the assertions made by the president's own lawyer to weeks ago. u.s. and has confirmed christopher wray as the new director of the fbi. the nomination was approved on a bipartisan vote of 92-5. he has vowed to defend the organization's indepen

manus: i'm manus cranny. the world deals with another terror attack in barcelona.hat is the reality of the world we live in but also across the pond, the world deals with the reality of what is happening in the white house. it is a double punch for the market. the s&p 500 is down 1.5%, the second worst day this year. it has only swung 1% in three of the last six sessions. are we dealing -- are we building up to more? is what really unnerved the market yesterday. they report: was set to go, denied by the white house. you have volatility rising. rising but it is not doing what it has done historically which is drifting away after the events. anna: after terrorism in barcelona, not just in terms of white house agenda, but what does it do for the race to lead the fed as well? let's get to the risk radar and show everyone where we are in the asian equity session as we go to the night. these insane concerns around terrorism and geopolitics and around dysfunction at the white house are influencing the white house. the flight to safety illustrated by the fx market, we have

manus: it is super thursday. while the bank of england is expected to hold their interest rate at a record low, economists think it would probably down groid its -- downgrade its forecast for 2017. ann namplet the m.p.c. surprised the market with the 5- vote in june. since then there's been personnel change. could we see something similar, though? >> the consensus, good morning, they're expecting a 6-2 vote in favor of keeping rates unchanged today with mccafferity and saunders voting for a rate hike again. tpwhack june it was forbes that was the third dissenter. she left the bang of england. her replacement, her views on policy specifically aren't known but it would be a little surprising for or the go against the consensus on her first meeting. another surprise that happened since june was a bit of a hawkish term from the usual dove, andy halladay in a separate peach. r began stanley thinks he could be another dissent today. we could see 5-3. goldman sachs thinks we could see 5-3. nomura said the bank of englan

manus cranny alongside me. filling in, thank you manus, for guy johnson in london.nutes away from the open, six and a half to be exact. red stickyg headline, maersk oil is being a 7'4" $5tal for billiondeal -- $7.4 deal. $2.5 will assume debt for billion, a total of $7.5 billion in what is turning out to be in m&a monday because we got the on court news as well, the battle between warren buffett and paul stinger looks to be won by a third party. manus: it has been rattling around europe between act and nobel, certainly an active participant. i think the miners could be in play. juliette has been telling you that. this is the commodity board deal seo if you want to understand -- this is the community board glco if you want to understand what is affecting the market. are up 1%.these flat, ray dalio basically saying, by gold. -- buy gold. you have copper, iron ore, upures are up 5.3%, real was 4.5% in australian trade. matt: i am watching gold to see if they can break through the 1300 level. and close above it, as well. i'm also watching bitcoin come down on little tod

manus: thank you very much.h texas still being lashed by rain and rescue still underway, president trump out that the u.s. government response to tropical storm harvey would serve as a model for disaster recovery. rangeds early estimates up to $100 million, the president received a briefing at if fire station in the texas town of corpus christi. been i'vect you told how great your representatives have been in working together as a real team. we want to do it better than ever before. we want to be looked at by virginia or now as this is the way to do it. this was of epic proportions. anna: president trump giving his thoughts on hurricane harvey. events, 15atic life people are dead, the entire area of texas is suffering. thatwe try to do is marry level of suffering with the economic impact. we have done a survey of economists, what is the propensity for this to impact the fed? and the consensus seems to be in the third corvette will be a rebirth because of what has to be done to regenerate. when you look at it fro

manus: i am manus cranny. carlsberg delivering -- the organic volume declined by 2%.hey are being hit by russia downsizing. they see the full year is a positive impact, a positive translation impact on 50 -- 50 million danish krone. the organic beer volume drops by 2%. the estimate was for 3.85. they are warning that the organic volume is down by 2%. that in part being hit by russia. sales numbers missed the estimates, 31.70 7 million. .- 31 point you're looking at ab inbev. that is who you have got to go up against even though you have got decent recovery in europe. we are spending more. anna: let's go around to other corporate earnings. the insurance sector, first-half net income 25.4 million francs. any good position to achieve their full-year target. recently we heard from the ceo after some illness. swiss life will be restrained on acquisitions. that is with the ceo told a provocation -- that is what the ceo told a publication. manus: who is the king? it is china. they are back on top. they had the most amount of treasuries in june. reserve, they have improved fo

manus: extremely select.e the data this morning, i don't think anybody wants to get too bogged down in one month's piece of china is ana, but incredibly important part of that particular stock story. when you see china, it seems to have been less of an issue in the first eight months for us and what level of exposure are you taking there. what adjustments are you making to say the chinese exposure in the portfolios? lucy: china story we have is very industry select if. -- selective. you have policy support and they tend to be ones without overcapacity, not the old economy more than new, but areas like life-sciences where you have good policy support behind, environmental, testing water, that kind of thing where you have good support from the government. those are the areas we tend to focus because they have better structural and less volatility. manus: we have a story from jeffrey to block and he is saying, he wary of a pricey market and he is saying you can buy anything a few months ago and be grand. this is

matt, manus. manus: thank you very much.ister theresa may in this country has conceded that they european union law will influence the u.k. long after brexit. directseeking to end jurisdiction of the european court. that is a climb down from a declaration to bring an end to the court's jurisdiction altogether. the compromise is aimed at speeding up divorce talks, but is likely to open her to attack from the eurosceptics. will hobbs is the head of euro investment strategy at barclays. the u.k. leader wants to end direct jurisdiction of the european court of justice. this would be perhaps tacit acceptance that there has to be some relationship with the european court of justice if she's ever going to get divorced talks moved ahead. is this a breaking of redline for you? the potential compromise moment? william: it is some part of compromise. the government's positions have long been inconsistent. we are still in a have your cake and eat it phase of the talks. the government is looking for unrestricted access to the e.u., but i

anna, manus. you very much. anna: she has talked about the rba. it is the second day. it in strategy and -- australian insight. manus: positive day for to yoda. they raise their profit from first quarter on the numbers. we will discuss everything toyota. that is next. ♪ ♪ anna: welcome back. 8:21 in paris or berlin. get a quick check on the markets. this is where we are expected to open. a -- upper around 0.2%. the u.s. features are pretty mute. -- u.s. futures are pretty mute. the pounds, we put that in there because there are comments coming through from the bank of england. he was talking about how rates may have to go up faster than market expectations currently, but also mentioned it will be very gradual. he was talking on u.k. radio. manus: let's face it, it did take a spanking yesterday. as christian forbes let the bank of england, it was trading at 131.89. let's go to juliette. juliette: shares in southeast has fallenest bank in singapore trading. that is after it posted a profit that beat

manus: good morning to you.l, she reminds me a great deal of margaret thatcher in many ways. she wants to build her epitaph how she might be remembered. do you think that is going to be around immigration and her role as the one that did the right thing for europe? wolfgang: the rest of europe hasn't really, in regards to immigration, has it? the refugeethink crisis and immigration is ,omething which came to europe not that you wouldn't have seen it coming given the globalization and its effects and the stability and her way of tackling it is a courageous, ambitious. europe will have to rally behind it and find a solution. the more time we have to get to a solution, the better. having her in office for much longer would clearly help us getting there and building this consensus. there is much to be done in europe on various levels, policies, issues, topics. this could be a great additional to build europe further, which is necessary coming given what we are seeing on a global scale. matt: i have to ask you about

manus: matt, thank you.alk about donald trump in the thread about a shutdown of the government. over the border wall. concerts across capitol hill. he hinted he would veto a bill that doesn't fund the wall. congress needs to pass a spending measure to keep the government open, but it is also facing the deadline to fake -- raise the nation's debt ceiling. paul ryan spoke during his visit to oregon. >> i don't think anyone is interested in having a shutdown, i don't think it is in our interest to do so. while we work on doing what we said we would do, what we have been in the house and need to do, which is control our border. you don't choose between the two. , the: joining us nowmanus: global strategist at allianz. you have seen this party, you have seen this before with all this was -- all due respect. you have seen the punch outs when it comes to debt ceiling. paul ryan, from my reading, this is why markets became less perturbed. ryan is not interested in shutting down the government. what do you see as the

manus: what about the capital expenditure side?nt to the demand side of the equation, what is the -- the quid pro quo is due we see a scale up in terms of capital expenditure on your side. ivan: we will be cautious because over the past several years during the super cycle misallocation of capital and there is that concern. in our case we benefit from the fact we have two districts. large inventories so we can develop them incrementally. they will be more measured development and capital going into projects as we move into this new phase. there is -- it is cautious and it is healthy. constrainedlatively and we have this upside in demand which is good area anna: you are excited about electric vehicles and then production will be -- you will be sensible around the section story. vehicles the for the copper market, what percentage are we talking about that going into that and the networks because the supply networks will need to be listed. i've been: there is a network upgrade which needs to be made. 2025, thek that by community deman

manus: the u.k. government thisshes the first of week's five position papers as it seeks to's shift -- to shift discussion toward a trade bill. refugeefending the crisis as martin schulz steps up his campaign. looking back, if the situation was identical to the one in 2015, i still think my decision was right. of course, we have done a lot to ensure it will not be repeated this way. collidesu.s. worship with an oil tanker to near singapore. ship collides with an oil tanker near singapore. ♪ anna: a warm welcome to our flagship show in the city of london. the week we are getting ready for, jackson hole, a lot of job owning at the end of the week. the u.s. and south korea will have drills. what does it mean for the bond market? this is the charlottesville it shows you. yields creeping higher. speculation that cohan could disappear. -- cohen could disappear. the bond market have a week of terminal -- turmoil. 2.2%.t to we broke the 100 day moving average to .28% on the prospect, on the threat of war wit

manus: juliette saly has your news. juliette: financial restrictions on north korea after it slapped sanctions on russian entities, assisting pyongyang's ballistic missiles. rex tillerson said it north korea hasn't carried out provocative acts the security council imposed new sanctions on the country, saying restraint might lead to negotiations. repudiated heras party as being of service. -- obsess. -- obsessed. in an exclusive interview with bloomberg, merkel's chief of staff says germany has interest in preserving the scandal in the diesel automotive's industry. >> i am optimistic we will overcome this and the german industry will come out of this

even the minister of the mp in manus island said pa pa the minister of the mp in manus island said papa have the facilities to accommodate a man with such severe psychiatric conditions. he was not brought to australia. was he given treatment? not appropriate treatment, no.- this point, doctor, it's not clear whether he took his own life, how common arsenal sides in the detention centres? they are incredibly common. according to the department of and in statistics, in a12 department of and in statistics, in a 12 month period there were approximately 1000 cases of self harm and suicide attempts. this isn't is a population in offshore and onshore detention centres of a little over 3000 people so one 3/12 months had a suicide attempt. if that occurred anywhere else in any other population group they would be national outcry, but unfortunately the way the government views the people in the detention centres is that they are essentially dispensable. we reached out to the border protection organisation in australia and they said they are aware of a death and authorities are investigating the m

manu raju will have a better handle on it up on capitol hill. wolf, when the hill is complaining to white house correspondents they're not happy there and we have to remind viewers this is not the democratic party complaining about the president. this is the president's own party, wolf. >> a fair point. manu, the tweets from the president make it sound like he's just upset with leader mcconnell over the debt ceiling, health care, but you're learning that that may not necessarily be the total case. tell viewers what you learned. >> reporter: right. in fact, what i'm told by sources with direct knowledge of that august phone call that happened between mitch mcconnell and president trump. the president really was more angry about the issue of russia. those investigations happening on capitol hill. there are two investigations happening both in the senate judiciary committee, senate intelligence committee and on mitch mcconnell's chamber. the president made it clear he wasn't happy what was happening on those investigations including one that the ju

manus: how many people are we looking at potentially?> i don't think it's a large number of people but we are in discussions with the dutch regulator at the moment and in discussions with the right people. manus: it will always be difficult and this migration to frankfurt, what is your of the scalable ecosystem that appears to be happening in frankfurt, any concerns? >> not at all, the dutch national bank is very familiar with regulating investment banks in the past. we have had a long history going /amro day so we are comfortable setting up our business there. manus: let's talk about growth -- the second consecutive quarter of profit to shareholders, where does the growth story come into 2018? >> if you look at today's numbers, continued good growth in mortgages for us. we are growing about three times faster the market growth rates. i think we will continue to prioritize in this environment. insme's we are seeing good growth. at the top end, we tend to be more cautious with commercial real estate and other areas. mark: the rbs ceo ther

the day and await you i'm manus cranny ellen sign matt miller in berlin. here is what we are watching today. mountains, yellen and draghi are off to jackson hole for a summit in what will we learn from the heads of central banks as they cope with low inflation? trump's makes a primetime speech and edited to reset his presidency after controversial advisors after bannon's ouster. how much has changed at 1600 pennsylvania avenue? juncker martin schulz steps up his campaign to unseat her. -- challenger martin schulz steps up his campaign to unseat her. in the u.s., he saw the s&p and of dow futures starting to turn around. we have green arrows on european futures. if you take a look at the bond

i am manus cranny alongside matt miller and here's what we are watching for you. man with the plan. president trump announces and open ended him to ending the war in afghanistan but warns his support is not a blank check. activist pressure. bhp billiton unveils plans to streamline the business with the sale of its u.s. shale asset. in 30 minutesns time. 100 days of macron. four months after the french president prospector he, the initial market euphoria about his win has managed. just how likely is it that he is able to pass labor reforms? matt: we are less than half an hour away from the european open . i'm am looking at futures that signal we will see gains at the open. you see the same in u.s. futures and it is an interesting trade today after the trump speech yesterday. you see people selling bonds,

i am manus cranny alongside matt miller. here is what we are watching for you today. shutting it down. president trump says brace for a government shutdown if his border wall does not get funding. stocks stall and the peso falls as trump says he might terminate nafta. brexit back down. u.k. prime minister concedes that you law will influence britain long after brexit. will this, my's speed divorce talks? waiting for draghi. president speaks ahead of the jackson hole summit. will he give any substantial clues about the central banks next steps? matt: we are less than half and a lower -- half an hour away from the open. futures are trading, a bit of a mixed bag in my you see dax futures a little bit, ftse and cap futures down a little bit but not a lot of direction so -- gains the games we

bring this to you, manu. you are cnn's eyes and ears and pretty much the world's on capitol hill when it comes to russia because you are everywhere at once. thom tillis is, a republican working on bipartisan legislation making sure mueller has hayes job. listen to what he said this weekend how he views the investigation. >> i'm not sure that i agree with the witch-hunt and we'll let the facts lead us to whether or not it was a hoax or a distraction, but we where we are and i want to see this investigation concluded so that we can get on to doing the good work that had presidential already started with regulatory reform, health care and tax reform. >> he's hardly an outlier as it refers to republicans pushing back on the president calling his a witch-hunt. >> absolutely. the fact he's come out with a bipartisan bill to say essentially, if you do fire up a special counsel, there has to be a judicial review to make sure that this is actually done legally, and some sort of recourse to prevent them from doing that

great reporting, as always, manu. thank you so much. >>> m.j., you walk the halls, probably wore out i don't know how many pairs of shoes during the health care back and forth. i wonder what your perspective is on what manu just reported in all the time spent with republican lawmakers, worried that, on the one hand, they need to keep their promises. their political promises. on the other hand don't want to mess up the health care system. >> right. no. this was a very, very tough period for these republican lawmakers. they were feeling the tug and pull from both their constituents and also the big promises making for years weighing over them every step of this process. i think this recess is particularly hard for them, and that's not -- that's expected. we knew this was going to be a lot of, a recess filled with town halls, constituents yelling, we've seen it throughout the year and it's important to emphasize this is not only about health care and whether republicans were able to make headway on that one issue. also t

i'm manu raju, john king is off. president trump's outline tonight for the future of the afghanistan war. >> the president has made a decision, as he said. he wants to be the one to announce to the american people so i'll stand silent until then. >> plus, steve bannon locked and loaded and free with his hands "back on his weapons." president trump exiled chief strategist vows not to go quietly into that good night. >>> then total, beautiful and a little dangerous. the moon does something it hasn't since 1918. block out the sun. how to catch a glimpse of histories. >>> with us to share reporting and insights, julie davis of the "new york times." jonathan martin of the "new york times," jeff mason of reuters and cnn's m.j. lee. president trump is back at work preparing for a primetime address with huge stakes and even bigger consequences. tonight at 9:00 p.m. the president will lay out how the united states will keep fighting america's longest war. candidate trump ran on the promise to pull out of a combat fatigued cou

i want to bring in manu raju. thank you for joining us.dent's personal person michael cohen discussed this moscow housing with president trump. what can you tell us? >> yeah, don this seems to undercut the president saying he had no business with russia. we're learning the president on three separate occasions discussed this hotel and ko condominium complex in moscow with michael cohen. he tried to restart the talks. the man who tried to broker this moscow deal is a russian/american businessman. he says in the "new york times" today our boy could become president of the usa and we could engineer it saying he could get the putin team's body in for the project. cohen did downplay this matter saying i abandoned the proposal because i lost confidence the prospected licenses would not bring the project to fruition. >> okay manu, you also learned about another effort to set up another meeting with trump campaign officials and russias. tell us about that. >> yeah that showed him relying a message from an individual from west virginia who wanted t

here is manus cranny. manus: technology is such a pesky yet beautiful thing.as rekindled the fire of technology around the asian session and around the european session. technology up .2%. they were the alpha of asia. financials up. we spoke to the ing cfo. bullish stories. they are delivering very much in a fixed income space, trashing their peers in the united states of america in terms of what they delivered on the fixed income space and equity trading. rally thatoldilocks has more to run. that is what we are hearing from. there is still juice in the rally. see what we can get for rio. are you bothered about the price of the euro and where it could get you? the breakpoints are btv 318, by the way, is 118.77, the low. if you look at it to the 2012 low of 12043. band witho into a new terms of euro trading. the ing cfo saw the market was fairly fully priced for an adjustment process from the european central bank. and markets would not dislocate that much. this is the gilt market. this is gilt futures. the price has dropped. alex is here from jpm. sterling wil

manus cranny come over to you. manus: thank you very much.se equity moves in europe are certainly noteworthy. the new york times has an op-ed. mr. trump's menacing remarks. could the tone and cadence of harry truman in 1945 -- the united states had dropped a bomb warning that it did not expect rain of ruin from the air, the likes of which have never seen on the earth. industrials -- these markets are definitely concerned that the geopolitics scenario is changing. the kind of rhetoric he is using is different to kennedy and the cuban missile crisis. it is different and more aggressive than truman in terms of his message. it is quite a reasonable shift in some of the markets. what do you do when you see this ratcheting higher in volatility? this is a moment when you want to say is this my opportunity? this is btv 2791, and this is the vix. it has had the biggest inflow since june. is this your opportunity? do you believe that the missed calculation will not happen and the world may not go to war or war?.s. may not go to i use that very singular

manu zack, nbc 7 news. >>> nbc 7 news was in the park as part of the search and rescue pack packed up to leave for texas. it's one of the fema teams being when they get there they'll get straight to work evacuating people out of homes to dry land. >>> san francisco's yearly rainfall was dropped op parts of houston in one day. drew joins us with the look at the dangerous conditions in south texas. >> yeah, you can see why they're having so many issues. all that rain if a short amount of time. doppler 7 tracking heavy ran that just rocked houston. the storms is slowly spinning to the east at about 3 miles per hour. take a look at the rainfall over the past 48 hours. a lot of pinks on the screen and that is rainfall close, if not over 2 feet in the past 48 hours. 23 inches south of pasadena. 24 inches to the north and east of houston. the track of harvey will take it over the gulf over the next 24 hours, strengthen slightly and make its way back towards houston by wednesday evening. we still have several days of rain to get through. future track showing us this is additional rain on the

bring in senior congress many reporter for cnn manu raju. what are you learned about this call and the relationship between trump and mcconnell? >> reporter: well, jake, mitch mcconnell is doing everything he can to avoid a public back and forth with president trump, even as the president himself continues to go after the senate majority leader. remember the last time mcconnell has spoken publicly about trump was on august 9th when he made rather mild criticism against the president saying that he had excessive expectations coming in as president. perhaps didn't realize the art of legislating, and can't really set deadlines to get things done. we know now from sources that tell us that that really set off the president who went on a tirade against mitch mcconnell. really laid into him. more so about the issue of russia than about health care, despite the president's own tweet this morning. now, we do know that both men, at least their staffs, want to move forward. mitch mcconnell realizes that they have a very ambitious agenda, things they a

manu said it before.g that gets a bad reaction and then it goes days and days and days and he sort of resists correcting it. because he, you know, he sees it as, you know, an attack on him and admission of failure. this is not a guy that admits failure or says i'm sorry very easily. i don't know if we should be surprised if this goes for days. >> when he looked up yesterday and said not donald trump, not barack obama. to your point, that's when he made it about him. he gets sensitive or defensive about these issues. >>> a special counsel investigation turns a corner. a raid at the campaign chief and now key west wing are being asked for records and interviews. >>> welcome back. the russia investigation is hitting closer and closer to home. that bold tactic clearly got the president's attention. >> i thought it was a very, very strong signal or whatever. i know mr. manafort. haven't spoken to him in a long time, but i know him. he was with the campaign, as you know, relatively short period of time. but i h

thanks very much, manu raju reporting for us. let's get a little bit more on the state of the trump presidency. >>> leon panetta joining us. the former defense secretary, former cia director in the obama administration. mr. secretary, thanks so much for joining us. and i want to begin, i want you to listen precisely to what the former director of national intelligence james clapper said, responding, reacting to the president's speech in phoenix last night. >> i really question his ability to -- his fitness to be in this office. and i also am beginning to wonder about his motivation for -- maybe he is looking for a way out. having some understanding of th exercise, i worry about, frankly, you know, the access to the nuclear codes. >> all right. mr. secretary, you've held the highest national security job, cia director, secretary of defense. do you share those fears? >> well, you know, i have a lot of respect for jim clapper. he's a good man. and he's very dedicated to this country. and i think all of us to some extent understand h

matt: manus, thank you very much. be sure to play that out for you many times throughout, but you can also access it on bloomberg.com and on your terminal as well. we are minutes away from the stocks open. let's get a couple of stocks for you to keep an eye on. we will talk to an executive for . in a moment. will join us in a few minutes. either way, allianz because of strong inflows. $52 billion coming from pimco. record inflows in the third quarter from pimco. even though that bond manager is smaller than it was before bill it is still putting up record numbers at a time when other people are looking at outflows. guy: let's talk about what is happening. net is declining, down to $1.12 billion. there talking about a physical market. on the call,cole the cfo, talking about this. he talked about the fact that they will wait until after the u.s. currencies, the wind is labeled, after they make a decision on what to do with the by backstory going forward. european markets fairly flat from the get-go. it is jobs day in th

it is a massive error of judgment from solomon and manu tuilagi.meal locally from the team hotel and then the whole squad came back and then solomona and tuilagi went back out for a night on the town and the england coach eddie jones took a dim view of that and send them home from the camp this morning. solomona has onlyjust coming into the england setup after switching from rugby league qualifying on residency. and tuilagi, who has had such chronic injury problems in the past couple of years, it is the latest in a long line now of disciplinary lapses for him. soa line now of disciplinary lapses for him. so a big error ofjudgment for both players. poor timing as well as they both seek to prove that they are men who should be involved in november. it is likely thatjones will take a november. it is likely thatjones will takea dim november. it is likely thatjones will take a dim view of what has gone on. you mention how eddie jones might react. do you think he will jettison them straightaway? what will he be thinking? it is difficult to say, because t

manus: let's talk about the story of growth.growth story come when i talk about rbs in 2018? >> if you look at today's numbers, continued very good growth in mortgages, growing about three times faster than market growth rates. i think we are going to continue to prioritize. we are again seeing good growth in business banking. at the top end, we continue to the more hawkish. menon here. very quick questions. transition agreement, what is it looking like? anand: it looks like the government is recognizing the need for one. mark: two years, three years, one year? anand: it has to be done by the election of 2022. three years maximum. mark: may, how long does she last? anand: very hard to say. probably depends on whether she has the stomach to keep going. mark: october tory party conference, big speech if she's still around, what is the message? anand: trust me. we are studying the ship. we made a mistake with the general election. mark: have we seen peak corbyn or not? anand: it is very hard to know. he defied expectation in the ge

manu raju with the story. have breaking news on this russian investigation involving a top trump campaign aid. what can you tell us about that? >> yeah that's right. rick who was a chief of staff and top trump policy adviser sent an e-mail, someone from quote, wv was trying to set up with a meeting between campaign officials and russia. this was one of thousands of e-mails that congressional investigations are pouring through as it relates to the russia pro. we don't though who this individual from one virginia is or what he or she may have been seeking. we do know from intelligence experts says russia was looking for cooperative partners as industry points into the campaign. we don't know what happened here because the warehouse declined to comment and answer a slew of questions we had. we're trying to figure that out as the inversion pushing forward. >> manu give us a sense of context here. when was all this happening and was it related to the meeting we now know took place with donald trump jr., paul manafo

want to bring in now, senior congressional reporter, manu raju. good evening.or joining us. the president, person attorney, what can you tell us? >> the developments undercut the president's claims of having no business dealings in russia. we are learning that the president on three separate occasions discussed this hotel and condominium project in moscow with his attorney michael cohen. jane 2016, cohen wrote an e-mail to one of vladamir putin's trusted aides, to note that the talks between the two over this project had stalled. the man trying to broker the deal. felix sader russian/american businessman associate of the president. sader says in a 2015 e-mail obtained by the new york times to "our boy can become president of the usa we kaine gyp near it saying he would get the putin team buy in for the project." cohen did downplay the matter in a statement to cnn saying in late january 2016 i abandoned the moscow proposal i lost confidence that perspective licensee would not bring the proposal to fruition. the e-mail didn't go anywhere either. trying to downpla

then there's a shutdown and a lot of republicans don't think he'll do that. >> manu, thanks. >> thank you. >>> unfortunately, any infighting with the panel will be possibly entertaining. kristin powers, david gregory, bakari sellers and susan page. is there a strategy -- lindsey graham was on television earlier saying it's not just that people think he's unhinged. there's a strategy. is there a strategy and is it a smart strategy? >> i think it absolute is he a strategy and how smart it is, we don't know yet. president trump as a candidate made it very clear that he was going to roll through both the democrats and the republicans and, of course, he started with the republicans saying that establishment republicans weren't getting the job done, weren't responsive to concerns of too many americans and i think we have to remember, this is an astute part of how he ran and how he's governing. where i think it's less smart is what manu referred to, which is if you're actually going to get the legislation done, you've got to work the process. even if you want to play more of an outsider. rig