mark barton joins me live from london as we wrap up trading in the next hour. you are there in london. it has an brutal today. what are you watching gekko mark: stocks have fallen to the lowest level since 2014. the european close starts right now. brendan: taking you from new york to london in the next hour. straight declines. we have not seen again since february. we have fallen to the lowest level since october 2014. happened significant january 20, the day before mario draghi indicated there will be more stimulus in march. the market rose for two weeks. it has cut back today. it has wiped away all of the gains. have a look at the industry groups. a broad-based selloff today. every single industry group is getting hammered. media. basic resources the best performer down a mere 1.1%. we do have a gain or, the biggest of 2014. look at the gain. shares of by 11% today, biggest years. 2.5 shares rising after a proposed to boost the annual dividend by 10% because of strong cash flow. this is a minor that makes money as long is gold is about $1000, which it is. the

mark barton will be kicking things off. anks and europe have been falling for seven weeks, the longest run since 2008. got was a month before draghi said his favorite words -- his famous words. the stoxx 600 has fallen below 30 12 times this year. more than atord, the height of the financial crisis in 2008. the priced earnings estimate is eight and that is cheaper than the broader market by 40%. that is almost a record. buy.: buy, buy, matt: i have more of a function than a chart. what we are showing you hear is, if you put in any index or any kind of industry group, it will show you improving sectors, leading sectors, weakening, and lagging. the energy index is lagging but headed towards improving. the same is true with basic materials. financials are fairly weak. weakening, headed towards losses really industrial and tech stocks. betty: a very cold chart. mark, i'm going to give it to matt miller because you do not realize how many charts that has prepared to battle you. he had like five or six. i feel guilty because we ar

i am mark barton. vonnie: and i'm vonnie quinn in new york. fran reported a earnings mostly line with expectations. mark? mark: let's take a look at the shares right now. they are following -- not as much as they were earlier. they when ad with what lies ahead for the -- here to share with what lies ahead for the company, bernard delpit. delpit, thanks for joining us. guest: good afternoon. mark: we mentioned the charge in est engine for corporate jets. are you sure you know how to fix it? guest: we have written off all sttangibles on the silvercre program. and having reviewed the program, we agree on what has to be done and the new schedule of this program, so we know exactly how to do it, and that is why now we are in the inff terms of intangible assets. yes, we know how to fix it. you: is there a plan b if do not know how to fix all of the issues? no, there is no plan b. there is no need for a plan b because we know how to fix it. we will be on schedule for the new program. those who may not be full of familiar with the company 50% of your r

mark barton? ark: fifa delegates are meeting in zÜrich, try to write a new chapter for the organization after the massive corruption scandal. the election is going to the next round of voting. hugo miller is a reporter at bloomberg news covering the elections. he joins us from zÜrich. very good afternoon. contestvorites in this have gotten the most votes in the first round. just remind us about the tally. yes, it is starting to get exciting, but getting exciting very slowly, because the voting happens one country by one country, and there are 207 delegates countries that have to go up and deliver their votes. the long-standing with 88 votes,al bahrain who from has of the asian confederation. 5 candidates were sitting watching the blue ballot papers being counted. infantino has a good poker face because he was looking very glum. the betting going in was that he was going to lose or come out short in the first round and he actually came out ahead. now it is a question of delegates going back for the

let's check in with mark barton. mark: let's start with the stock xx 600. lower, higher, coming down once again. we fell by 4.8% last week, easily way to get the gains of the prior two weeks, amounting to 3.8%. still, the index is down by 11% this year, one trillion euros, on track for its worst year since 2011. the macro highlight of this week is janet yellen, appeared before congress. she is going to have to strike, francine, some sort of balance andetween caution confidence, but the domestic economy is in good shape after those jobs numbers on friday. this is the interest rate projection, fed fund futures now saying we will see a 53% chanc e of a said rate hike in december -- chance of a fed rate hike in december. this is thursday's figure, below 50%. there is now more than a 50% chance that the fed will raise rates in 2016. we have the economy adding 151,000 jobs last month, average earnings rising the most in a year, which has got people rethinking their interest rate projections. i want to stick with the u.s., because this was the big decline or last

now, the ftse and 81, the biggest gainer of the european majors right now, let me toss it over to mark barton, who is standing by in london with more. mark? mark: big news because ian mccafferty has been posting to raise interest rates each of the last six meetings. he joined the rest of the bank of england, and as you said rightly, the bank of england is now 9-0 to keep interest rates at a record low .5% am where has been, by the way, since march 2009. that is the for significant move.

-- mark barton. this is the european close. ♪ take you from new york to london to moscow in the next hour. here is what we are watching. the oil markets delivered this verdict. russia and saudi arabia not doing anything to drop up rises. mark: inflation u.k. rises to the highest level in a year. brendan: anglo american is selling off its units. we want to hear from the company's ceo. we are a half-hour away from the close of trade. tell us about it. mark: we saw the stoxx 600 soar by 6% over two trading sessions. we have run out of steam, run out of gas after the news from russia and saudi arabia. excuse the pun. maybe investors expected more. 6%. these are the big movers. the comeback kid. earlier in the session, the miners sank as much as a percent. 1% speeding up plans to put out materials with better demands such as diamond, copper, and it's raising woodcut to junk yesterday. it is the first london major minor to suffer that distinction. it wants to cut the debt to 10 billion just over 12 billion

mark barton has the details. marco rising for the third day for the industry groups for the stoxx 600. all 19 are trading higher. even oil and gas which is diverging from the price of oil which is declining today. excluding the advance. the banks industry up by 3.8%. topix, what a gain. biggest gain since 2008. this is the intraday chart. this is after the gauge sank last week, plunging by 13%, the most since 2008. heavily oversold. it is rebounding today. three industry groups rose today. we have the economy in japan contracting greater than forecast, 1.4% in the fourth quarter because of the weakness in private consumption the data confirming that japan is struggling to break free from the cycle of expansion and contraction after three years of

let's get to mark barton. mark: u.k.yers showing should -- showing few signs of responding to a tightening labor market. unemployment holding at 5.1% in the fourth quarter pretty earnings growth slowing. pay growth excluding bonuses edging up to 2%. the data likely to reinforce expectations that boe remains a long way raising its benchmark rate from a record low .5% " some policy say near zero inflation is keeping a lid on pay settlements. unemployment falling 60,000 between october and december to 1.69 million. employment climbing 205,000 to 31.4 million. jobless benefits fell 14,000 to in january760,000 taking the rate to 2.2%. nothing there to make us believe the bank of england will budge on its record low interest rate of .5%. any movement in the ftse 100, it is creeping higher today. up by 1.25%. whichs the 10-year yield last week hit its lowest ever level, down to 1.3%. since thursday, it has crept up to 1.43%, but still, the be global bonding market in 2016. that is the latest data from the u.k. anna: not all tha

let's get over to mark barton to dissect the market moves. let's start with the french automaker. profit rising a better than estimated 44% last year. it gained market share in europe thanks to new models like the suv. it also forecast higher sales and improved operating margin this year with european cardin and projected to rise by 2%. look at commerzbank. up by 14%. it returned to profit in the fourth quarter. earnings at the consumer banking business almost doubled. losses narrowed at the unit from winding down soured loans. it plans to pay a dividend of $.20 a share, its first payout since june 2007. rolls-royce holdings, the jet engine maker, has cut its dividend for the first time in almost 25 years. it said it will need to deepen its cuts amid sluggish sales of marine turbines, slumping demand for older wide-body jets. it did maintain its outlook, which is why shares are up 14%. causeors are relieved the the company issued six profit warnings in the last two years. to its the first cut dividend since 1992. the msci world index slumps in

i'm mark barton with vonnie quinn. major dealack to our story today. lse confirming it is in merger talks with deutsche boerse. it would create one of the biggest exchange companies in the world. vonnie: shares of both companies soaring today. oliver renick joyce us now with the story. -- joins us now with the story. what do we know? >> it would be a merger. 56%.wners would get about it is in talks, it is subject to changes. that, asthe likelihood we have seen with a lot of deals, you get competing bids. that could drive the price up for one of these companies. or if there is the issue of regulation. it kind of makes sense from many perspectives. vonnie: a merger of equals in which both parties feel like the dominant party. why are there so many deals? >> i think that is the big motif from the story. there is a news era that has been ushered in over the past decade or so and that is electronic trading. it's not really the pits anymore. it happens with high-frequency trading. you have had shrinking profit margins over a long period of time. if you are o

brendan: live in new york and london with mark barton. we're looking south from lexington avenue to where stephanie rule is standing by with the c.e.o. of t-mobile john legend and we're close to the european close, mark barton, what are we seeing? mark: it's the third day of gains when you consider where we were last thursday and we've come a long ways where the stock was and rebounds 8%, up 2.5%, gains of at least 2.5% in london and frankfurt and in paris today, driven by these industry groups and among them the miners, glencore among them and receiving a vote of confidence from lenders today and signed a new loan commitment to replace an exusting $8.45 billion revolving credit facility, have a look at the industry groups on the stock 600 today. basicry sources, up by 7.5%. driven up by glencore and this vote of confidence from the lenders seems to be a sign the company is strong financially and it can withstand this downturn we've seen within the commodity space and auto up 3.7% today and banks driven up by credit, agricore itself is he

i'm brendan greeley with mark barton.na says some banks will be forced to lock away reserves, a move that may maintain credit growth after smaller lenders jumped in january. director of asian equities stopped by bloomberg early today to give us context. >> what you have had in china, particularly in recent months is a huge surge in lending for it in january, you saw new loan issuance at a record high. $460 billion. brendan: i have a chartered here. >> it is a huge number. that is occurring at a time when the chinese economy is slowing. there is a growing concern that what is already one of the indebted countries in the world becomes increasingly indebted and that debt pile is ultimately not repayable. nonperforming loans. nonperforming loans are loans that have been lent out and the borrower is no longer paying interest and cannot repay the principal. the official number for that in china stands at 1.7% at the end of 2000 seven p recomment to this debate about numbers in china and growth rate. that is the official number.

thank you so much, mark barton in london. latest doolittle has the live in midtown manhattan.: we are certainly looking at a selloff. for two primary reasons -- weakness and a real selloff in big tech at the nasdaq. this is a reoccurring theme. today's big losers are amazon, alphabets, and facebook. theming in sympathy with quarter, these companies are very different. investors appear to be selling last year's big winners. speaking of amazon, it was a second-biggest stock of the nasdaq last year. it is down one and 26% of its peak last year. it could be a telling of what is to come of the other big tech names. taking a look at one of the big the company will be receiving $500 million from a private equity firm. returning $5.5e billion to investors after the recent sell of its storage units. and reiterating guidance for the current quarter. the company has been struggling over the last couple of years with declining sales. this shows with a stock trading and a volatile trading range. the question could be is all of this will help push semantic higher? vonnie: thank you so much.

mark barton joining us live from london or the rest of this hour. resident obama will release is 2017 i just. $4 trillion. we will bring those headlines and a. first, let's talk about european shares. stocks sharing for a seventh straight day. that is the story. the european close starts right now. betty: we will get back to mark martin in a moment, but breaking news right now. president obama officially releasing his $4 trillion budget line for fiscal 2017. joining us now from washington, bloomberg's angela who covers the white house. i'm looking to the headlines right now. give us the big numbers first. angela: $4.1 trillion budget which is about what we expected. it is not a surprise. the white house as ruled

let's get to mark barton. rco uncertainty -- mark: uncertainty -- just three of its peers falling against sterling today. most are rising for a third consecutive day. this is the chart of the day. sterling has sunk to a 2009 low against the dollar. it has fallen between -- it has fallen below 140 for the first time since 2009. yesterday, the 2.7% drop in the pound against the dollar on monday and tuesday was the biggest since february 2007. 29 out of 34 economists see the pound sinking to 1.35 or below within a week of a vote to leave the eu, if the british do vote for that eventuality. since we have not seen 1985. sterling will not recover from that rate within three months it seven see the pound falling below 1.20 immediately after a brexit vote. todayer than where it is here to goldman sachs saying it should fallen as low as 1.15. that is roughly 20% lower from where we are today. we have seen it before in history. back in 1981 when the economy was mired in a recession, sterling fell by 25% in 1992. intain c

mark barton is standing by in europe, european stocks dropping as well. l read, my favorite color but not a favorite of old at all. mark: if you were expecting new themes and this new month, wake up and smell the coffee. falling to aturing three-year low, oil is declining after a good rally at the end of last week. we started february like we started january, with a decline. i will go into further details when we need to in 20 minutes. betty: we will indeed. what is coming up? stephen i will talk china, today's manufacturing data, and what does it mean for policy going forward? our man was in switzerland today speaking to boris kolodny. the downside was the gross margin, owing to the lowest levels since mr. kolodny took over. hans nichols is in berlin as david cameron did a lot of shuffle diplomacy over the weekend to try and force concessions out of the eu ahead of this crucial referendum, which could take place this year. and is freezing hiring salaries in 2016. we will ask our man stephen morris about that. greeley"the slugger" joins us today for battle

i'm betty liu, here with mark barton in london. the markets are just finishing the day. where we are settling. mark: the stoxx 600 wolf hall 1.5%. -- will fall 1.5%. .he third day of decline february down, down, down after two weeks of gains at the end of january. we've seen the divergence between stocks and the price of crude. we know the correlation between the two is the closest since seen heard today, we've will arise after two days of losses. stocks are falling. .redit risk is rising it is rising here in europe. you have the cost of insuring european debt gaining today. surpassing 100 basis points for the first time since october 2013. that psychologically important -- this is also psychologically important. the german to your yield fell below nine this 50 basis points -- fell below -50 basis points for the first time ever. i record low for the german to yield asd -- two-year markets decline and bonds rise. on japan's yield benchmark now at a record low for all g-7 nations. i want to show you the big m&a story. we talked to erin about it. --aaron about it. theshare p

greeley and mark barton, that was the battle of the charts. ant to be the with you guys going up against each other. ♪ mark: london fashion week kicks off tomorrow. designers will showcase their latest collections on the runway , but is the british fashion industry keeping up with the times question mark joining us to answer that question is the chief executive of not just a label. thank you for joining us. the label you are throwing in the direction of the global fashion industry, not just the british fashion industry. what is wrong with fashion? there are certain things not up to time or up to scratch. we need to talk about sustainability and the talent. we need to talk about a system that is no longer relevant in a news flies and creativity flies and products need to move much faster. the customer is faster than the retail outlet. mark: which burberry is doing -- they will have a runway and you can buy off the runway. is a first step. the supply chain has not changed and there are issues with how do those brands work with retailers and depar

to the european mark barton joining us as we wrap up the trade. ng ofnd a the lossing -- of the losses in the europe. mark: we have fluctuated between gains and losses -- reporting a biggest quarterly loss since the financial meeting. the european close starts right now. betty: we are to take you live from new york to london and berlin in the next hour. tell us about the trade today. have been up as much as 1.1% and down as much as 1.5%. we were down for four consecutive days. losing stretch for almost four weeks, but we crest high

mark: i am mark barton.orite cameron has stepped up his campaign to win concessions from the video. he met yesterday with the eu president and tusk says there is have agreed they to postpone by 24 hours the template for a compromise land. hans nichols has been following this story and joins us from berlin. where does this thing stand? hans: the british are saying one thing. they are saying they made a today,reakthrough and there is no confirmation from brussels. there is the official press briefing from brussels and no one seemed to be bolstering britain's claim that they made progress. talks continue in brussels, not london. it continued at a lower level in brussels. what mr. cameron one is a 24 hour reprieve. yesterday evening we kind of got the sense not everything might be going in the same direction, in part because mr. task took to twitter and poured cold water on the fact that a deal was imminent. he said "no deal yet, intensive work in the next 24 hours overal." that is almost and they want to have a

mark: and i am mark barton. european close. ♪ brendan: we are going to take you from new york to london to be very busy brussels in the next hour. here is what we are watching. running into a roadblock. prime minister david cameron faces resistance as he tries to work out a deal to keep the u.k. in the european union. the brakes onts lending. some banks will have to put away or reserve because they made loans to fast. a fast lane. in we will look at the next big thing in collectible cars. it is not all ferrari's and lamborghinis. we are half an hour away from the close of trade in europe. mark, tell us about today's market action. mark: before i do, we have breaking news. you want to tell u

brendan: now off to europe, mark barton sees european stocks higher than better than expected earningsite a rebound from the lows of last thursday, which i will tell you about. it just ruffles through some of the big industries p or we seeing declines in london. the oil companies declining but most of the other major european primary industries sporting gains today. utilities driving today passes advanced p or the stoxx 600 utilities gauge up by 1.8%. all bar the basic resources, food and beverage, banks gaining today. these are individual gains. i will tell you about it at the top of the hour. check out the gains for the big european carrier, up by 11%. nestle produces the likes of perrier and kit kat. it will not meet its long-term sales target this year. that would be for the fourth consecutive year. not so good for nestle and the lot -- not a bad day for the stoxx 600. the fourth day of gains and five. brendan: we are heading for the european close, at the end of which i will humiliate you are what will happen to that humiliation? mark: i am excited about that. i'm excited about ha

let's head to europe where mark barton sees a european stocks higher. o a rally in energy, mark? mark: -- yes, that is the area where you need to be looking. it's not every day we shrug off a 6% decline. you said it. it is all up to lloyd's today, dividend, and a strip payout, maybe the worst of the insurance payment rejection scandal is behind it. up to 3.5%. i want to show you draw the's preferred -- mario draghi's preferred inflation game. it was below the initial estimate of 4%. this is preferred, the five-year forward inflation swap rate, which is at a record low. that is a record as the ecb meets in two weeks. we are counting down. i know you love your sterling chatter, vonnie. versus the pound dollar. the three levels for accounting 13727,9, 13750 3, 2001, and 1.05. not too many analysts, i have noticed, have talked about the pound/dollar parity, but it is worth remembering what happened back in 1985. is the absolutely, 1.10 lowest i have heard. we will be talking about brexit in the next hour. let's get a check on the markets with julie hyman. ju

francine: mark barton with the latest on some of your asset check and the u.k.et straight to first word news. ina has offered to buy syngenta for more than $43 billion. the plan to take over the pesticide maker comes as the state backed company extends its shopping spree. the all-cash offer would be the biggest acquisition yet by a chinese firm. syngenta shares are trading higher on the news. the focus of the 2016 presidential race shifts to new hampshire. mondays results were kind to outsiders. hillary clinton arrived declaring herself satisfied with monday's narrow win over bernie sanders. also-ransblicans trained their sights on the three leaders. markets no longer see better than 50% chance that the federal reserve will raise interest rates this year. as of yesterday, traders were adding on better than even odds for the next rate hike by february 2017. charters were above 5050 for an increase by november. treasuries are taking their cue from theisuch sentiments. 10-year yields fell to an all-time low. the bloomberg first word desk, i'm nÉe vucevic -- nejra.

francine: mark barton there with the charts.i want to show you the price of oil. we had breaking news from the iae. up price of oil has gone after it raised its estimate of surplus. a lot of market participants that, the program say it is not a problem with demand, it is a problem with surplus. will besaying there even more surplus because opec will continue pumping oil. because of the higher opec output, surplus will be even bigger than i thought. you can see that brent on that b gaininghose headlines 1.7 percent. deutsche bank shares slumped after it became the biggest rs tor in the last four yea try to reassure investors it has enough cash to pay its debts. in a moment we will speak to a gadfly columnist. but first let's go to hans nichols. what triggered deutsche bank's problems? and theywas an analyst were looking at whether or not deutsche bank could pay their coupons not just in 2016. but also 2017. in part, because no one knows how big their litigation costs, what that exposure is going to be? after the note came out, you saw shares dropped 10%. they climb

let's go to europe, where mark barton sees european stocks higher amid for this stimulus speculation.: you said it, matt. it was the bengals -- people's bank of china governor who vocalize the weaker monetary policy that set the tone today. look at this: right here. european markets rising today. looking for a second weekly gain after we saw two weeks of declines. this is the industry pick up on the stoxx 600. every industry, matt, is rising today, except telecom. oil and gas tracking the price of brent crude, which is at its highest level since january of this year. what a wiki it has been for sterling against the dollar. this is the five-day job. four days of declines, one day of gains. the weekly drop, 3.5%, is the biggest since 2009. uncertainty ahead of the june referendum on eu membership. big data today out of the euro zone. we had inflation out of spain, germany, france, all those nations told us they had a negative inflation which sets us up lovely for the upcoming ecb meeting, which basically puts further pressure on mr. draghi to add more stimulus to the economy on march 10

mark barton joins us with the latest. row, that is the declining straight for the stoxx 600, down as much as 2%. the longest losing streak since october 2014. there is symmetry to the indexes falling to the lowest level since october 2014. this was the index in the spotlight yesterday, the athens stock exchange with as much as a percent yesterday. continues the decline, falling as much as 4%. in the last six days, down by 18%. risk year assets are being pummeled today, so the greek banks are falling, concerns about the economy and the bailout talk. they are worrying amidst the heightened concern. take a look at europe's sphere index. this is europe's volatility index, it is increasing for the third day. 35 is the price, august of last year after china devalued on the yuan, that was the highest in four years and we are about five away from the highs. i want to finish with deutsche bank. were dark saying about deutsche -- what arencement investors saying about deutsche bank's announcement yesterday? i'm afraid after rising

i am matt miller here with mark barton. mark: it's time for business flash.ooking at the big business stories. it's been six months since the vw scandal broke. the volkswagen chief executive says it still may take time to figure out a solution with regulators. they talked to us in geneva. >> discussions are going on. making some is progress. during see what happens the next weeks and months. mark: they won't say whether they will come up with a solution by march 24. that is the deadline set by a federal judge. citigroup will buy american expresses hope for leo credit card loans. gain $1 expected to billion from the sale. goes --rompted by cost cosco's changing. buyers may be turned off by turmoil in the financial markets. knightsbridge, prices fell 7%. that's the latest business flash. rock last night, chris address the elephant in the room. >> i'm here at the academy awards, also known as the white people's choice awards. if they nominated hosts, i would not get this job. this is the 88 academy awards. that means this black nominees thing has happened at lea

we will head to europe now where mark barton sees a rally in european stocks ending as global growth drag banks lower. mark: as our friend in hong kong was telling us on the news, ever since the details of the oil production, the market has been drifting lower. now down about .6%. the biggest two-day gain since 2011. the stoxx 600 rallies by 6% in the last couple of days. , look atg today media oil and gas up as much as 6% earlier. now down by half of 1%. of feary was moving out or pain bond market initially when equities were rising. still, money is moving out of the bond market. that is a rarity. normally they are using it inversely. and is a german yield curve the 10 year yield last week on thursday following to the lowest level since april last year, just creeping up a little bit since then. it was initially a day where we have appetite for risk for that has come back a little bit. brendan: perfectly good opportunity to say the word -- frome a little sleepy here our presidents' day holiday. wake us up. what will happen when european markets close? mark: that is a big story. we wi

. -- we have thet from mark barton. mark: we've been missing technical analysis on sterling.it fell to its lowest level since 2009, below $1.40. i've been desperate to do some technical analysis on the pound against the dollar. 2009-2016e pound from . the 200 day moving average and 50 day moving average. the green line is the 200 day, purple line is the 50 day. the 200 day is above the 50 day moving average. that is not good for momentum. sterling has fallen by 10%. guess what happened at the beginning of november -- the trend there is not a good one for the pound against the dollar. the relative strength index is also fascinating as well. any figure below 30 shows that sterling is oversold. near ate are at 30, 30.3. we are not quite oversold. sterling's decline could have a bit further to run. vonnie: i like it. has quiteot sure it what it takes. i will handed over to abigail doolittle for her debut. mark's technical analysis. toent back to 2000 and tried 2000 and chart about three expressions of risk in the financial market. in blue, the euro against the yen come in yellow,

let's it to mark barton. mark: boris has moved the currency market clearly.is sterling against all 31 of its major peers. the russian ruble, the best-performing out of the 31. the euro is the worst performer against the pound. still, the euro is up 1.3%. everything will currency out of the 31 is rising against the pound. after boris johnson said he will tap it in for your desk for britain to leave the -- for europe to leave -- the bloomberg correlation weighing the currency indices. and measures the pound against all of the big major developed trading peers. , thean see sterling today one-day performance is down 1.6% it that is the most since january 2015. the bloomberg pound correlation currency index is down to its lowest level since january 2015. this year, the gauge has fallen by over 4% at the biggest annual drop in a number of years. brexit fears unsettling currency. this is a great gauge to gauge volatility and currency pairs. this is the euro pound currency pair. this is implied volatility. this is telling us how much volatility to -- do investors exp

let's head to mark barton. mark: global stocks set for a second week of gains.is the msci over the last two weeks. we've got a gain of almost 5%. we fell for the first two weeks of the month. we rose for the second two weeks. as you said, the chinese central bank governor setting the tone for the day earlier when he said that he still has monetary policy tools at his disposal and there's no reason for yuan depreciation. have a look at this chart. a wonderful chart averaging out the 10-year yields of germany, the u.s., and japan. g3 yield, the average as it is known fell to a record low. even though we are seeing an appetite for risk, we are seeing an appetite for safe haven assets as well. five weeks of gains for u.s. treasuries. sincet winning stretch january 2015. according to citigroup, chances of a global recession are high. the that continue to boost allure of fixed-income assets? rbs, big stock story. falling as much as 11.5%, the biggest drop since september 2011. it posted its eighth straight annual loss since taking a bailout at the height of the financ

let's head straight to the terminal with mark barton. flation cladding to its highest level in a year in january, driven by motor fuel, food, and clothing. consumer prices rising .3% following a .2% gain in december, bang in line with economists core inflation, which mark carney likes to look at. he told us back in november, that excludes volatile routed energy prices, which slowed to 1.2% from 1.4%. real inflation remains well below the bank of england's 2% target, with oil prices remaining near a 12 year low. pay pressures are weakening as well. officials say the economy doesn't warrant a rate increase from the record low .5%. if you like at the morgan stanley gauge, which protects when the next rate increase will happen, it has been pushed out to 40 months from eight months at the beginning of the year. central to the outlook for rates is pay growth, which has come off the boil in recent months despite unemployment reaching a decade low. we will have further details on pay tomorrow. have a look at the ukip on market, in light of that d

when you listen to mark barton and what the marks are saying, they do not know where to look for central-bankn. they don't know how to view china. you haven't changed since i spoke to you. patrick: if you're a bear, you are seeing this is contracting. my view is they're going through structural reforms. manufacturing will contract in that kind of environment. february, are weak manufacturing numbers in china anyway. i don't think the numbers will change anyone's view. it is a much-needed rebalancing. francine: are you concerned about liquidity when you look the markets? they are so volatile and lots of people say because we have not found a floor on oil yet. half the people i speak to say this is a liquidity problem. we are good to see volatility for the next 12 months. patrick: i've agree with what you say on oil. you see equities selloff right away. people are looking at oil for a few more yards. i think that is misreading everything. than theys are higher have ever been. 96 million barrels of oil being produced every day. supply.too much there is overcapacity. francine: why are we seeing s

let's head to the bloomberg with mark barton. mark: the stoxx 600 was down 1%.terday, it rose for the fifth day and seven, rebounding 9% from the 2.5 year lows on february 11. the driving force has been basic resource, oil and bank stocks. sentiment has been down amid further concern about the chinese economy. yuan referencee rate by the most in six weeks. manufacturing and services cell to new lows -- feel to new -- fell to new lows. corporate story. bhp shares falling after it cut its dividend. it made a larger than expected cut to its dividends. to do is protect its balance sheet and credit rating from the slump in commodity prices. first-half profit -- the dividend was cut to 16 cents f rom 62 cents. statementarning in a that weaker prices and higher volatility across commodity markets are likely to persist and longer than the company had expected, printed it -- prompting it to shake up top management. intercontinental hotels which owns the crowne plaza shrres ares up by 3.7%. billion to return $1.5 to shareholders in the form of a special dividend. the spec

at's get to the bloomberg for market check with mark barton. rco is today's game -- mark: yesterday's gain has been wiped out. there it is, down for the eight day. we are at the lowest level since october 2014. persists.essage it could them the rate hike that the fed indicated at the end of last year, failing to assuage the fears about a global economic slowdown. that is the stock story. this is the central bank story of the day. rates cutting interest further into negative territory, -.50% the repo rate to from -.35 percent. just 10 out of the 18 economists surveyed by bloomberg forecast that move. it is a move to survive inflation. it is a move to stop the krone from depreciating. the riksbank has sculpted to cut rates further here it is market asn the fx well. a big message from the swedish central bank today good check this out. we have already knew that the sovereign bond market was the best performing global developed bond market in the world. check this out. the 10 year yield has fallen to a record low, 1.31% because of the light. been pu

david: you think mark barton has a better story? >> i don't think you get points for color. rk, purely on performance. david: i was with you, matt. sorry. up next, assets. ♪ we're joined by the director of high-yield at bernstein. before we do that, let's get a quick check on the markets. take a look at futures, up across the board. we are playing a little bit of caps off, with global markets. european and asian markets created $831 billion in market cap. we were closed to celebrate presidents' day. futures of 21 points. also -- here is a chart of s&p futures throughout the last 24 hours. you can see we are off the highs of the session. big gains earlier. now we're out 1%. we had been up to 3150. we are now i-29 71 now we have the news this morning that the saudi's have met with russia and agreed to freeze their production levels, but their production levels are at record high. so the market does not seem to thrilled by that. take a look at european markets. they were up across the board earlier. they have turned down. yesterday they had a phenomenal day, friday they did a ph

mark barton has details. : this is a three-day chart of shares. -4.5%.-9.5%, tuesday today, up by 11%. so, over the three days, we are still down by 3.8%, but it is some come back for shares at deutsche bank. it is said to be in the early stages of buying back some of its bonds. the bank has ample cash to make the purchases. so, what a three-day move in deutsche bank's share price. check out some of the other big moving shares. hermes was lower. the french luxury handbag maker says that they may miss their medium-term goal showing how china slowing economy is weighing on even the most exclusive brands. revenue could rise by less than its goal of 8%. also reported its lowest sales growth in six years today, as november's paris attacks led to a drop in tourist spending. maersk.ap muller shares down by 6.3% today. reported an 84% plunge in profit last year. by lowerunit was hit energy prices. its container division got squeezed between trade growth and overcapacity. million net income includes a right down by two

now let's head to mark barton for a market reaction on those u.k. gdp figures. terling down for a fourth consecutive day against the dollar. this week, it has fallen by 3.4%. sincerst four-day decline february 2009. we did another survey today. economists say that voting to leave the eu would increase the you k's chance of falling into recession. they say the probability of a slump sparks to 40%, compared to 13% risk predicted in the most recent monthly poll. this is a great chart showing sterling against the dollar. we are just below 1.40. 1.3924. on march 10, 2009, we fell to 1.3753. this is 2001. 1.05.1985, was those are the key levels that charters will be keeping their eye on. chinese slacks -- stocks slumping today. biggest drop since january 26. we saw surging money market signaling higher volatility. the offshore yuan fell for a fifth day. today's declines have almost entirely wiped away the 10% rebound since the chinese stock market fell to a bottom on the 28th of january. the g-20 kicks off in shanghai tomorrow. up by 10% today. biggest rise since 2010.

mark barton joining us as we wrap up the trade. race thing ofnd a the lossing -- of the losses in the europe. mark: we have fluctuated between gains and losses -- reporting a biggest quarterly loss since the financial meeting. the european close starts right now. betty: we are to take you live from new york to london and berlin in the next hour. tell us about the trade today. have been up as much as 1.1% and down as much as 1.5%. we were down for four consecutive days. losing stretch for almost four weeks, but we crest higher with 30 minutes left on today's session. it is a day dominated by earnings. i want to bring up this magnificent shot highlighting the massive nature of today's credit suisse declines. shares have plunged to their since 1992. off goodwill, it set-aside provisions for litigation, drop in trading deepened lawson's as its -- also is losses and accelerating its cost-cutting programs, including 4000 job cuts, citing a particularly challenging environment. what a big decline in credit suites shares today. but it is no

mark barton joins me live from london as we wrap up trading in the next hour. e in london. it has an brutal today. what are you watching gekko mark: stocks have fallen to the lowest level since 2014. the european close starts right now. brendan: taking you from new york to london in the next hour. straight declines. we have not seen again since february. we have fallen to the lowest level since october 2014. something significant

i am betty liu with mark barton in london. let's get a check on her first word at news this hour.the first presidential primary will be held in new hampshire. bernie sanders was campaigning there earlier today. iowaal hours before the democrats said sanders lost to .illary clinton and hav marco rubio had a surprisingly strong finish in third, one point away from trump. will tryaker paul ryan to override the president's veto of the bill that will defund obamacare. he plans to bring up issues linked to terrorism. president may bring up the fight against cancer and -- north korea has declared plans to launch a satellite this month. they are seen as an attempt for onth korea to avoid a ban long-range missile tests. raul castro meeting with several top officials in day two of his visit to france. he is seeking to boost business ties between the two countries. on monday, francois hollande called on the u.s. to lift its economic embargo. global news 24 hours a day powered by our 2400 journalists in more than one fee news bureaus around the world. that's 150 news bureaus around the world.

mark barton joining us for the next hour live from london and it is day two of the selloff.ocks falling for a second day. to the chief executives of both companies, the european close starts right now. ♪ betty: we will take you from new york to london in the next hour and mark, kicked things off as we look like we are settling near the low. the third biggest declines of 2016 for the stoxx 2600 earnings. as well as these declining oil prices. let's get straight to those earnings because a couple of the big companies in europe. reported disappointing earnings bp is the big recliner in london.

let's check on the markets with mark barton.- other againstthat its major peers over the last week. the new zealand dollar, 3.6%, the danish krone, so on and so forth. only a few currencies have actually fallen against the dollar. it is the worst week for the dollar against 10 of its leading peers since 2009. let's not forget, it has jumped by 20% since june 2014. the euro headed for its biggest weekly gain against the dollar since 2011. draghip over 5% since implemented stimulus. the yen is on track for its biggest weekly gain since 2009. those central banks that have done something recently or pledged to do something have seen their currencies rise. it is becoming more difficult to dbase your currency in this difficult financial market volatility time. a fed president said she does continue to see the u.s. economy warrant gradual rate increases after this turbulent spurt. we've got the jobs report. they expect to figure in the region of 190,000. want to show you what's happening to japan'. the yield falling to a new record low

mark: and i'm mark barton. this is the european close. ♪ vonnie: here is what we are watching.ceo has publicly lacked -- backed david cameron's campaign to stay in the eu. the bank of england is staying on the sidelines. --k: the world's biggest company/his dividends after earnings plunge. stock europe's biggest exchanges are possibly creating one of the biggest exchange companies in the world. paradise on four wheels. rolls-royce gets ready to replace one of its iconic limousines with one with an aluminum frame.

let's bring it to mark barton. index against its global peers -- the dollar sank by 1.7%.is the bloomberg dollar spot index year to date, falling to its lowest level since december. $esterday's 1.7# wiping ou% wiping out its yearly gains. it expanded at the lowest level since 2014. the odds of even one rate hike in 2016 is now below 50%. now we look ahead to tomorrow's u.s. jobs report, which could determine whether the dollar selloff continues. economists forecast that it will he u.s. created fewer than 200,000 jobs in september. interesting words from the senior market strategist at the rbs in singapore. he says the dollar weakness looks like a correction within its multiyear bull run. two big fed officials have spoken in the last 24 hours. they said policymakers need to take into account tighter financial conditions when they need to next month to determine whether to raise interest rates again. but the dollar has given back 2016, allmes for because of yesterday's massive 1.7% slump, the biggest drop since march, 2015. back to you. guy: super thursday -- bank of england

mark barton is here with the details.intment, with a vague commitments to spur growth over the weekend, falling to its lowest level since november, 2014, the yuan falling for a seventh straight day. this is the stocks 600 month to date. basis, onlyry group one has risen -- basic resources up by 13.6% since this industry group fell to a 13 year low on january 20. it has risen by 26%, that is some turnaround. the all conquering currency today is this currency -- the japanese yen. yen is up by 7% month to 2008 amidbest since speculation that the yen will gain against the dollar, driving it to a four-month high. this is a great chart that shows the price of gold against the msci all country world index -- it was normalized at 100. the global corporate bond indexes the red line. priceite line, the gold is up by 15%, so gold outperforming all those asset classes, coming off the back of three years of declines, the worst losing stretch, very much the haven asset in these uncertain times. there is the yield -- this is the 2011 pe

mark barton is joining me live from london as we close of trade in the next hour.three for three in losses in europe. european stocks dropping for a third consecutive day. anxiety about corporate earnings overshadowing this rebound in the oil price. the european close starts right now. ♪ betty: we will take you from new york to london in the next hour. tell us more about the declines in europe. mark: the only positive thing i can say is we were down as much as 2.5% half an hour ago. the stoxx 600 is 1.6% lower. declining for a third consecutive day. this is one of the rare days where the stoxx 600 and oil are actually moving in oppose