mark: i'm mark barton. time for the bloomberg business flash.igroup says the ftc is investigating trading and clearing of interest rate spots by banks. it says it is cooperating with the probe. early this year city agreed to pay 420 $5 million to resolve a claim that it tried to rate interest rate and marx. blackstone group is acquiring team health holdings. $43 a shareill pay in cash for the health care staffing firm. that's 33% more than the closing price on october 3. one day reports -- before reports of a possible sale sent the stock soaring. u.s.nal spending in the rose. consumer purchases account for 70% of the economy. up ifwill have to pick spending is going to increase much more. that's the latest bloomberg business flash. stay with us. this is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from co

i am mark got -- mark barton. i am vonnie quinn.ing the european close on bloomberg markets. ♪ from st. louisu to london. stories from turkey and germany and more. here is what we are watching today. sterling resuming its decline as wait or clues about the cause of the flash crash and whether britain is truly headed for a hard brexit at the same time. bank of america rules banks of liquidity via -- vanishing in times of stress. >> donald trump and hillary clinton talking about past scandals. opera discussing the fence and trade in the second debate. a recap of personal attacks and policy. a bold

i'm mark barton. vonnie: and i'm vonnie quinn. uropean close" on bloomberg markets. ♪ mark: we are going to take you from houston to london and cover stories out of japan, washington, and spain. here is what we are watching today -- the chief executives behind the new $32 billion oil services giant, we will talk to the chief oil and gas executive on baker hughes. vonnie: policy decisions are playing second fiddle. we will bring you the latest on global, central bankers. hillary clinton's allies -- in an effort to send political damage after the reopening to clinton's emails. it

i'm mark barton in for francine lacqua. friday, we wrap up the news, analysis, and conversation that will make you smarter about what's next for britain and europe. this is "brexit: what's next." here's sebastian salek. sebastian: banks in the u.k. will start relocating operations out of the country by the end of the year as london is set to lose access to the eu single market. writing in the observer, anthony brown says many smaller banks plan to relocate before christmas. global banks will probably lose their current legal rights to provide services in the eu after brexit according to the u.k. trade minister. told bloomberg they are trying to create new models. britain's economy grew faster than forecast in the third quarter. the expansion came as services single-handedly ensured civilians against brexit fallout. helped by box office seats for summer movies, the sector offset declines in construction. monday, a brexit strategy meeting between the u.k. prime minister and the leaders of scotland, wales, and northern ireland

i am mark barton. nnie: i am vonnie quinn p are you are watching bloomberg markets. a close for another 170 years, the current trend continues. the annual global gender gap award -- the pay gap has diverted to where it was in 2008 after peaking in 2013. comcast pete -- keeps beating the industry trend. the best third quarter in a decade. pokemon go was not enough for nintendo. sales of three ds and wii you gains. the forecast for the year. iphone,t game for the keep an eye on the market for us. that is after the company said they have flown as much as 5% after a 4% drop in the third quarter. has in seeing -- it is pulling down the other airlines as well. you can use to take a look at the measure. this is one of the benchmarks within the airline industry. pink, white in continental and in blue. all of them have been trending lower with unit revenue. these declines, southwest is the highest among the carriers. now looking at some of the other travel related shares we are watching today, hilton hotels out

i am mark barton along with quinn. quinn. the european stocks finishing the day lower.l auditors gaining. real estate, oil, chemicals, and gas declining. today monte paschi, love this chart because it shows the extent of the volatility we have seen in the share price from oversold to overbought in the space of a week. this is incredible. below 30 is oversold and it jumped, double in the space of seven days and now it is overbought once again crossing above 70 as investors questioned the plan to raise 5 billion euros as vital capital. still up by 66% in nine days. has a nine day period it been for italy's oldest lender and most troubled. this is a chart that shows how investors are paying the most since early june to hedge against swings in the benchmark ftse 100 index relative to its regional euro stock 60. the ftse is up 12 percent this year thanks to the slumping pound, hovering around 7000 for most of the month. it failed to maintain that intraday record reached october 11. this is the spread of the ftse 100 and euro implied volatility, and finishing with volatility,

i'm mark barton. watching bloomberg markets on bloomberg television. alisa parenti has more. >> hillary clinton and donald trump are in a dead heat. they are tied at 41%. leading in some cases significantly. gary johnson 8%. jill stein 4%. hillary clinton is hitting the campaign trail with michelle obama. will make a joint appearance on thursday in north carolina at wake forest university. radical tom hayden has died. he was an author and california legislator. he was 76 years old. north korean officials are criticizing efforts by the u.n. to strengthen sanctions following the latest missile launch and nuclear tests. they said sanctions targeting the missile tests are criminal and accused the u.s. of orchestrating the punishment. alibaba billionaire jack ma wants china's top security bureau to prevent crime. he says policing cannot happen unless china has the ability to analyze information on citizens. china has begun to build unparalleled online surveillance of its citizens. this is bloomberg. vonnie

an ode to yield curves by mark barton. i am a sucker for curbs -- for yield curves i should say. mark: that is the quote of the day. vonnie: they are both similar charts, part of michael's story was in mark's, i am going to award a tie. at&t is reaching -- fighting to reach a time warner deal by monday. that is breaking news, at&t looking to push the deal by monday, they do not want apple or google to come in as a counter better. this is bloomberg. ♪ ♪ is a new and in new york, 5:00 p.m. in london and midnight in hong kong. i am vonnie quinn. mark: and i am mark barton, welcome to -- i am david gura, welcome to "bloomberg markets." we are covering stories from san francisco and hong kong this hour. microsoft shares surged to a record high today after first quarter sales and earnings topped estimates. a series of upgrades at mcdonald's global rotations -- global locations boosted sales. maker is try to make the product less intimidating to millennials. let's go to julie hyman for the latest. julie: there are so many possibi

i am mark barton. vonnie: i am vonnie quinn. you are watching european close. - mark: we are going to take you from new york to paris. here is what we are watching today. we are going to get and wells fargo. we are on the wells fargo conference call to listen to any signs of material impact from its account scandal going forward. vonnie: u.k. prime minister theresa may loads up her cabinet for brexit talks with the european union. it is looking heavy on those that are pro-exit. is it a sign they may be planning a clean break with the eu? clues from afor speech by janet yellen. we

mark: i am mark barton, counting you down to the european close.cking the chart to my right. 4:21 in london. the sterling falling for the against the dollar, revising long-term forecasts weather the u.k. can negotiate a deal that lets it remain in the europe's angle market. -- europe single market nearly asked about that possibility. the u.k. is a the u.k. is a mee eu until the brexit negotiation has ended, not started. also, with the idea that with the great bridge and outside the eu will remain a european country and we need to cooperate in a deep manner. that means if you consider the market, it has to be complaint. -- complete. mark: joining us is bloomberg first word fx editor. sterling falling against the dollar for the fourth consecutive day. maybe since 1985, we have not sincehe pound this weak then. october 30, first question, using the power of the bloomberg, how love the sterling go? >> it is probably not the bottom. crash on friday we have seen revisions as well as 1.18. mark: 1.05 is the line that i love. it is the low. the record low

. ♪ live from london, i'm mark barton, counting down to the european close.nie: i'm vonnie quinn, in new york. in less than half an hour we will find out stanley fischer shares the same stance as janet yellen. earlier he said he expected things to pick up in the second half of the year. growth setting the stage for interest rate increases. hsbc head of, global fx research, david loom, weighed in on when a rate hike will happen. enter -- ine in and an iteration for the dollar. emerging markets come off, all prices go down, they back off and then everything returns. is thing about a fed meeting that a move by the fed doesn't tell you about the next one. interest rate rises in the signal, that's the big bull market in 2014. going back, we thought rates should be 2.5 in december and they are not going to be. so, maybe december, maybe, but then another year? are you really worried about that? no, i'm not. sorry. year.by the end of next 10 year bond yields cable? -- or cable? >> from here? david: 135, it's quite close. >> when you take a look at inflation expectati

mark: i'm mark barton. this is the european close.nt in the global market has been a very hot topic all year. investors anticipating action from central banks around the world. the rush into long-term government bonds. and the fx market. what a wonderful piece today. is trade in bonds is a powder keg ready to blow. it's the case for owning longer-term majority bonds crumbling before our eyes? >> there are fewer reasons to own them than there were six months ago. most prominently the revival of inflation. a particular which is getting prop from the monetary policy. central banks are starting to tell us they would like to see back end of the yield curve. they would like to see the prices on those start to fall and push up those yields. mark: we've got this sovereign debt index. the steps are astonishing. $2 trillion of losses. it has happened before. >> it occurs pretty frequently. there's been several occurrences. more than a similar scale of jobs you might see in the s&p and other leading indexes. things can move pretty quickly. becau

i am mark barton. tching bloomberg markets. saudi arabia revealed how much it is willing to pay on a bond sale. selling price guidance or 5, 10, 30 year bonds as it looks for a budget deficit that balloons to the widest in more than two decades thanks to a collapse in oil prices. to sam potter in dubai. what kind of spread are we looking at here? what does the pricing look like? numbers are 160, 185, 235. spread 45, 10, 30 year expected -- respectively issues. the initial price guide, the pricing area at the moment, we expect prices to come in. with the potential size of the issue and potential demand, it could tighten quite a lot. matt: what are initial reactions of investors that your hearing? the spread sounds just the, doesn't it? >> in the world we are living in a moment, the negative yield world, debut sovereign investor that provides this kind of yield, yes. it is getting a lot of interest. we hear off record that the are alreadye issues fairly sizable. the exact size they will print is not yet k

mark: and i'm mark barton. choice hotels out with better than expected. executive discusses its growth strategy. vonnie: and why the rise of private jet ride sharing is bad news for plane manufacturers. mark: in today's quick pick, we examine the sustainability of the u.s. affordable care act, known as obamacare. vonnie: earnings from hospitality chain choice hotels came in better than forecast. they reported domestic room revenue in the third quarter outpaced that of rivals, and they beat analyst expectations on profits and revenue. bloomberg spoke with chief hotels' c.e.o. on how well the leader sector is holding up. >> you've got the cycle, which has peaked, but it's moderating very slowly. what is noticeable is on the business transient and on the group side. there's been some softening. we don't participate in a big way on the group side. and on the business training side, we're actually still building some of our share, but obviously it's the leisure component that's holding up so well. mark: this is bad news for plane manufacturers, because of new t

this is bloomberg. ♪ mark: live from london and new york, i'm mark barton. m vonnie quinn. this is the european close. a lot of speculation to how the markets will react to a reserve rate hike. mark mobius is executive chairman at templeton emerging markets. at the 10 year history there is absolutely no correlation between interest rates and the markets. it's really interesting. >> we have had a temper tantrum in the past. >> the market went up with interest rates. i would say that we could be blindsided when ray go up. they will go up by a very small amount and i don't think it will be material. a lot of the emerging markets are dealing with 5% 6% interest rates. i'm not that worried about it. have seen a rally and emerging-market stocks or equities. really beent keeping up in terms of number and size. why is that? basically because the latent fear that people have of the markets generally. you can see more and more ipos in china. a lot of the companies coming in to hong kong do their ipos. as the emerging markets continue to outperform you will see more ipo

mark barton also has a great chart.s been a difficult week for samsung after its 7oduction of the note smartphone. once upon a time the south perfect,nglomerate was how could it be perceived as perfect? a raiset 2011 we had from j.p. morgan chase. every single analyst racing -- analysts rating. it was perfect. bloomberg has a scale of five points, three for a hold. rating hasnalyst scored above apple as this chart showed. just a month after it announced 2009,artphone in nevertheless there is always a nevertheless in my battle of the charts. gains in this entire period from 2009. seveng shares fell boyd .9%. i looked at the wonderful anr function. that is 87%. a 12 month price target tells us the 22% upside for apple, 44 analysts have a buy rating. what a wonderful story. perfectwas perceived as by the analysts. >> once upon a time it was considered pretty perfect by the consumers. i really did like your performance and your charts. seeing as you and me are pretty , i think it unison we should both decide that matt is th

mark: and i'm mark barton. you are watching "number of markets.""erg >> north korea wants britain to exercisesf military in south korea, calling the drills hostile act. britain plans to send fighter jets and support plans -- planes. north korea has increased its opposition to military drills in south korea. close allies, like france while are -- hollande, questioning why they took part in a tell-all book. the book was released just weeks before he must decide whether to run for another term next year. polls show he is far behind. china has sent two astronauts into space for the country's longest mission yet. the crew will spend more than one month in space, most of it aboard and orbiting laboratory. a simpler version of a space station the china hopes to launch by 2022. vietnam, heavy flooding triggered by rain has killed at least 24 people. roughly 125,000 people -- homes have been flooded and the situation ma it worse. they are now bracing for the approach of a typhoon. the white house says that president obama will announce that the american high

i am vonnie quinn with mark barton in london.e four weeks to go in the election and hillary clinton holds a lead in pennsylvania. voters, 51% be out trumps 42%. as the 2005 access hollywood tape of trump making lewd comments about women was released, a number of women have accused trump of assaulting them. running us from our washington bureau with the latest is bloomberg's alex wayne. how does he respond to the latest attacks? >> he has denied them all, which strains credibility. it is not really plausible that all five of these women since last night -- five different women have come out and said donald trump groped them or kissed them or otherwise basically assaulted them -- it strains credibility that all five are lying. he walked himself into it as he wasn't looking for this kind of thing. actually denying at the debate that he has ever engaged in any kind of conduct like that. he would say that he invited people to come forward who wouldn't have had a reason to come forward. >>>> three of these women have said they were wat

i am mark barton. vonnie: i vonnie quinn.re watching "the european close" on "bloomberg markets." mark: we will take you from washington to moscow. stories also out of london, new york, and south africa. here is what we are watching. wages, theoosting federal rates increasing on december at the same time that strategists say we could see a pullback in the ftse 100. we will discuss it with that asset manager. vonnie: goldman sachs says the reason to cut oil production is more profitable. jeff curry tells us why we will not get answers until the spring. south africa's rand tumbling since june.

i am mark barton. i am vonnie quinn. you are watching the european close on bloomberg markets. your from washington to milan. stories from new york and london, and asia. here is what we are watching today. rising inflation and mixed signals causing investors to pull out of certain types of bonds. we will talk to an asset strategists. a third runway will be built at heathrow airport. who is backing the bill? technology and focus. twitter planning to cut 8% of the workforce as it prepares to go it alone. apple set ep

i'm mark barton. onnie quinn p you're watching the european close. ♪ mark: we will cover stories out of croatia, wall street, the united kingdom, all of the next hour. here's what we are watching today. falling to catch its breath. by the u.k.'s exit from the eu may not the swift as many once thought. money: terms of gradually removing policy combinations, we look ahead to the minute that the fomc later today. a birds eye view of the economy and politics in croatia. us croatian president joins

mark: i am mark barton. this is the european close. nine minutes left in the wednesday training session. saudi arabia is going on a sales spree. planning to raise 7.5 billion dollars. this is according to people with knowledge of the operation. beating argentina, 16 point $5 billion sale in april, bloomberg largerge desk learned a portion of saudi dollars have come from the united states. does this reflect the 17.5 billion that saudi arabia is making hay while the sun shines. does it impact the deepening strain on the country? >> indeed. all of this, we have the sale today, which is going to be the biggest sale after the emerging markets. billion,we saw 16.5 and argentina has been selling more dollars, euros for companies as well. day deal from emerging markets, it is saudi arabia that is going to be on top of it. and there are reasons for this. there are demands from investments in the emerging markets. traditional investments and also crosses over from global investments. indeed, there is a strain. there is a budget which has widened

. ♪ vonnie: from new york, i'm vonnie quinn, along with mark barton in london, counting down to the europeanlose. mark: 12 minutes away. u.b.s. pledging to continue its aggressive cost cutting efforts, this despite a 68% drop in its wealth management profit before tax in the third quarter. the chief executive says the strategy has been a fairly demanding task. it will continue in part in a negative rate environment. he also pointed to good inflows in the third quarter, in an interview with our manus cranny. >> if you look at our quarter-on-quarter, it was a very strong result. we have been able to do it on our capital position, on the leverage side. we got a 345, very close to our to t of 3.5% that we need achieve in 2020. good money, good progress on costs on our target. so i'm very pleased. the diversification of our business has proven to be a winning team. winning and challenging environment. >> can i ask about you the comments that you make, that you highlight negative rates are considerable head wind, unlikely to change for the foreseeable future? you're obviously making progress on co

francine: mark barton with your asset check.s debt returned to the spotlight as finance ministers meet in luxembourg. the greek finance minister spoke to me at the imf meeting ahead of the gathering, and criticize the position of his german counterpart, mr. shovel, on debt relief. >> i explained that i do not understand how he has this triangle where he believes the program will work, the imf will be on board, and there will not be debt relief. someone has to give. i think the down in his heart, he understands that. francine: for more on the views out of the imf, i am joined by tom keene out of new york city, who is still trying to recuperate from the intensity of the imf coverage here with us in london. tom, we had some great conversations. ceo's,e to the ubs francine lagarde, and hildebrand. it was clear that no one is feeling good about the next 12 months. tom: what is interesting is a clear message that no one in europe is in charge. interview after interview, what i noticed was, we really do not know who we are talking to.

. ♪ mark: live from london, i'm mark barton.ime for the bloomberg business flash, a look at some of the biggest business stories in the news right now. london's high court will issue a ruling of a $1.2 billion lawsuit against goldman sachs tomorrow. that is according to a statement on the website of the london court. fundrs for the $16 billion said it -- arguments that goldman crossed the line and establish personal relationships the officials during gaddafi regime. associated press reports say a new york firm won the right to deploy skill-based slot machines in atlantic city. the machines are aiming at grewcting millennials who up playing video games. the u.s. is demanding a resolution of its insider-trading case against leon cooperman include a temporary suspension from the hedge fund industry. people according to familiar with the matter who say the sec before suing the billionaire last much pushed him on a deal it would have required he pay $8 million in penalties in addition to the suspension. cooperman denies any wrongdoin

mark: i am mark barton. time for our etf friday segment.ting the spotlight on gold today, among other assets. take a look. attracting investors, even as gold prices fall amid rising the fed will hike by the end of the year. the --james by butterfill. let's not forget that gold is still headed for its first four, james.n oh money continue to flow into exchange traded products or etf's, gold-backed? >> all indications suggest they will. if we look at the year to date, for our firm, we've seen $4 billion worth of inflow. if you count each week where we see outflow, there have been six weeks totaling around 1% of this year's inflow. very minimal. gold prices fluctuating to two sentiment toward the dollar, -- due to sentiment or the dollar. in the run-up to the rate hike, it is likely we will see weakness in gold. we are not saying a dwindling appetite. even this week so far, we're seeing continued -- mark: rate hikes are not going to derail. >> no. when you see a rate hike or prior to rate hike, the dollar tends to rally. after that, it tends t

i'm mark barton in london. thatme to have a sip of because we have an acceleration to the fastest pace this year, adding to evidence that growth is becoming more resilient. the pmi index, the composition index, rising to 53.7 in october, from the 52.6 in september. this is the fastest pace since the beginning of 2016. the recovery continuing at a steady if not spectacular pace in the face of headwinds from brexit, slowing trade, political uncertainty. ecb supporting the economy with unprecedented stimulus that will come under review in december. just want to show you what's happening to the markets today. the stoxx 600 trading higher. last weekend it rose for the second consecutive week. best run since september. last week's rise was the strongest in a month. byre's the euro stoxx 600 up 0.75%. the euro is a little bit up now. track force march, on the worst fourth weekly drop. it is all about divergence because the u.s. as many think is set to hike rates in december. in the chinese currency market, the offshor

from london, i am mark barton. matt: i am matt miller in new york.sident obama and the italian prime minister will hold a joint news conference and we will take the event live on bloomberg television. in a few months, italy will hold its own referendum vote. at stake is how they are run as they endure a banking crisis, economic stagnation, and migration into the country. thank you for your time. how does it look? is theonths out, but how mood in the country and how are the polls lookin? >> a few -- polls looking? >> for a month and a bit, the polls are changing and there seems to be a narrow majority against the reforms. the problem for the prime minister is he made the mistake of promising to resign if he quit which has united all the opposition against him. the problem is that if he loses the referendum, he might come under a huge pressure to quit. mark: what help been cut president obama give prime minister renzi. this is his last state dinner in the white house. can he give his campaign a boost? >> there is use symbolism. we have the welcome cere

mark barton, what do we have to look or two -- what do we have look forward to? forecast on the bloomberg. can't wait to hear what he has to say about the pace -- the dollar peso. sterling falling for a third consecutive day. follows to its lowest level since 1985. will be asking him how long -- how low does the pound go? european banks, from value trap devalue trade trying to buy. this is the industry that has been hammered on the stoxx 600 and he is telling us it is time to buy. can't wait to hear what he has to say. in light of that amerco 10's comments -- in light of vladimir putin's comments on all, we will get over to istanbul. and here comments from the saudi energy minister who sees the price that the oil price recovering to $16 a barrel by the end of 2016. david: if you can't wait, and i cannot wait either. but as mark barton in london. we are 4-wood silica u.s. elections now. donald trump is struggling to stabilize his campaign as his running mate mike pence tries to kill talk that he is quitting the ticket. people look at the key thing to watch in the c

i am mark barton. >> and i am matt miller. you are watching the european close. re going to take you from washington to frankfurt. out of saudi arabia, the u.k. and wall street as well. british consumers are starting to feel brexit's bite. new data shows real wages are rising. we will get an economist take on whether this pressure will intensify. >> saudi arabia is looking to raise 17 and a half billion dollars in the world biggest on sale for an emerging market country. will it be enough to shore up finances?

i am mark barton. ♪ mark: let's get the bloomberg first word news. here is sebastian salek.ebastian: theresa may says parliament should be allowed to -- taking britain out of the european union. seemed to come after they dumped the pound of a concern the pm was taking a gung ho approach. -- by a third following the note 7 crisis. the company said profits will come in at 5.2 trillion one, won, down.llion donald trump has gone on a twitter offensive, blasting paul reid -- paul ryan as weak and ineffective. the shackles have now been taken off of him after ryan condemned his comments about women. the nominee continued his campaign speaking in panama city. >> this election will determine whether we remain a free country , or we become a corrupt, banana --ublic controlled by large and foreign governments. the election of hillary clinton would lead to the destruction of our country. againstn: fraud charges -- to a junk rating according to investors. the possibility of an increase in borrowing costs back on the table. he was summoned yesterday to make a appearance in court tests ma

. ♪ mark: i am mark barton county down just about 40 minutes.nie: it is time now for the latest business flash, a look at some of the latest business stories in the news right now. between deutsche bank in the u.s. mortgage -- mortgage-backed securities. angela merkel wants lenders to focus on reshaping the business model. on the government's wishlist, a shift to online banking. -- declined to voluntarily the gas and pro kit -- propane company is moving ahead with construction work. a native american tribe says the pipeline will damage types that are -- places that are culturally significant. saudi arabia is exploring the possibility of granting more licenses to foreign banks and loosening restrictions on operations according to people familiar with the matter. they say they want to boost growth in the private sector. the central bank is said to be weighing proposals to offer more products like mortgages and small business loans. that is your bloomberg business flash for the hour. mark: russia'second-biggest bank will continue to cut operations

this is bloomberg. ♪ mark b.: live from london and new york, i am mark barton. european close on bloomberg television. theresa may has positively throat her weight behind mark carney, adding her voice to the debate. policy decision will be announced on friday. meanwhile, we would hear from the fed on friday. allen higgins still here with some analysis. before we get to the central banks, get to the cocoas. bank, this one right here, did not get down to levels we fell in february, but still sitting on 72 cents of the pound great >> the most risky one probably out there. and, the most famous one. as you can see from the graph, it plummeted in february. the whole market tainted in february. still trading at distressed levels. in the case of cocoas, we are a customer of the fund management industry. .e are not typically cocoas on a look through basis, there would be some small equations. if you look away from the door shut -- deutsche -- mark b.: what kind of the yields are you getting? >> you can see this 1, 7 .8. i prefer to be much more diversified and have tap-in

i am mark barton in london. just getting some data crossing the bloomberg terminal. german business confidence just crossing now. thectation is up on previous month, up from 104.5 to 106.1. the actual business climate and improvement from 109.5 to 110.5. the current assessment is also up. so business confidence in the euro region's biggest economy is increasing. have a look at what is happening to assets today. we have had two days of finishing little changed for the stoxx europe 600, up by 0.3%. a host of companies reporting earnings. the longest losing stretch since may. diversions between the euro area and the u.s. the 10 year yield is down a basis point today in germany. there is the offshore yuan. chinese policymakers signaling they are willing to allow greater currency flexibility assets in then dollar. the german 10 year yield which i alluded to in european banks stocks -- something special happened. european bank stocks erased all their losses from the brexit vote. this is a great chart. is theman chart -- this german 10 year yield, which has come up from its

i'm mark barton with vonnie quinn. resources of 3%. highest since july 2015.-care stocks lower europe's second-biggest drugmaker. profit fell for a seventh quarter. generic competition hurting sales of its block buster cancer treatment. the stoxx 600 is down. basic resources rallying. i want to get back to syngenta. we talked about it yesterday. gaining approval for its $43 billion takeover by kim china chem china. syngenta stock price. the white line versus the cam hem china bid. the spread is widening somewhat. not once has the share price and as high as the offer price. german business confidence rising to the highest level in more than two years. manufacturing expanding at the fastest pace in three years. really quickly i want to show you the euro. falling against the dollar. lowest since march. the median forecast for the end 1.10.e year is $ we've got standard chartered forecasting parity. the tightest trading range during the third quarter ever. we have broken out of that trading range. vonnie: you mentioned some of my items earlier. the dollar index is

bloomberg markets up next with vonnie quinn in mark barton. ♪ vonnie: 10:00 in new york and 1:00 in hongmark barton. welcome to bloomberg "markets." vonnie: from san francisco to milan and cover stories from washington and wall street in the next hour. first, breaking economic data. julie hyman is with us. julie: consumer confidence coming out much weaker than had been anticipated. the richmond fed manufacturing index coming out with a reading of negative for in line with estimates. the consumer confidence read fro milan and cover is surprising bursting what analysts had been anticipating. 98.6 versus 103.5 last quarter. i will keep looking at the numbers to see what is going on.

let's head to mark barton for the market check. he's very excited about chinese inflation.ina factory gate rising for the first time since 2012, gaining 0.1% in september. a source of inflationary pressure. this is a correlation between developed bonds and develop stocks. .50. since 2013, it is quite a rarity, stocks and bonds moving up in lockstep. risen ineven rate has the u.k. to the highest level since 2014 -- the break even rate has risen. nextis the outlook for the 10 years, weak sterling pushing up expectations to 3% over the 10-year horizon. this is a lovely chart showing how the ecb is starting to price itself out of the corporate bond market, yields on bonds from various corporate entities already dropping below the threshold of -.4%. anna: stay with "surveillance." plenty more coming up. we are live in paris. francine and tom up next. this is bloomberg. ♪ francine: china is said to be planning a megamerger in a deal that would combine assets worth $100 billion. deflation defeated. china's factory gate prices rise for the first time, showing further signs of stabi

i'm mark barton. is the european close on bloomberg markets. ♪ mark: we will take you from toronto to london and cover stories out of california, germany, and washington in the next hour. here is what we are watching today. more signs the u.k. economy is defiant in the face of the brexit vote. a global selloff after today's gdp report left virtually no chance of an interest rate cut in britain. qualcomm looks to buy -- the largest maker is looking to diversify beyond the smartphone industry. we talked to qualcomm's ceo this hour. singery's ceo says the

live from london i am mark barton. --come to bloomberg markings bloomberg markets.m new york to paris and cover stories out of italy, and washington. the big u.s. banks out with earnings. jpmorgan and city, wall wells fargo takes a hit. , getting the earnings any insight on the scandals. >> we are covering banking out of city today. an investigation over allegations of falsified accounts and markets. >> and getting the week started with a new frisky atf be at the fund looking to capitalize on the 15% growth rate.

in hong kong. >> i am in for mark barton.nie: we will take you from washington to new york and australia, the u.k., and the middle east in the next hour. first, we have breaking economic data. manufacturing moved into a stationary territory in the month of september after coming in at 49.4 back in august. expecting aere lower reading than that. still 53. exactly the same as the previous months. in at 55.1, song that's a good sign.

. ♪ i'm mark barton in london.et's get to the bloomberg business flash. >> lloyd's has pointed a fifth -- has poised to the 15% decline. pretax profit fell to 811 million pounds as the largest mortgage lender took a 1 billion charge to compensate customers who were wrongly sold loan insurance. the bank has taken more than 17 billion pounds and chargers for payment protection insurance over the past five years. more than any other major british lender. santander says that profit was little changed, beating estimates for the three months through september. net income rose 0.9%. third quarter profit has tumbled 21% at airbus, earnings before interest and tax excluding one-time items went to 171 million euros. as it addressed production delays on its latest wide body models. sweden's wallenberg dynasty has tightened his grip over erickson by moving a trusted executive to lead the embattled network equipment maker. the former ceo, the wallenberg publicly traded investment company, will take the numeral on gender 16. jan

it will be mark barton at the head of the first hour, and me for the second hour.ng tom farrell. this is bloomberg. ♪ ♪ manus: friction over the december decision. it isl officials -- december -- is december a done deal? make's day in court. arguments judges against the prime minister's claim that she can bypass parliament. and stop checkl -- steps down. the wells fargo ceo steps down

bloomberg markets up next with vonnie quinn and mark barton. ♪ vonnie: it is thai fund a.m. ork, i am vonnie quinn. mark: from london, i am mark barton. welcome to "bloomberg markets." vonnie: we are going to take you from new york to madrid and cover stories out of washington, russia, and the u.k. in the next hour. at&t has agreed to acquire time warner for $85 billion to the deal may be lucrative for the banks during the financing. regular three uncertainty could cloud this new partnership -- regulatory uncertainty could club this new partnership. mark: national chemical miss the deadline to make concessions to european merger watchdogs, another megamerger that may be in flux. vonnie: equities getting a boost from earnings to start the week and we talked to one equity strategist who says the market is becoming coiled for a big move. about 30 minutes into the monday trading session in the u.s. let's go straight to

i am mark barton. ♪

mark barton, what are we looking forward to? haefele.to mark he will be followed by bruce bittles they -- bruce bittles. and robert baer has more than .100 billion of assets stock markets, he says, entering a small -- strong seasonal. the man who graded donald trump and as in economics, you know stiglitz, to talk elections in central banks and euro. what a show we have got for you in 12 minutes. david: now, markets. jonathan: 18 minutes in the session, this is how things stand. we are up 130 on the dow. -18 points on the s&p 500. this taking up in the last 24 hours, it has been there for the last couple of months. a stronger dollar on the one side, stabilization is fine. then, today happened. experts -- exports down from china. that is the story. coming up, we talked politics, counting down to the race for the white house. donald trump is losing in a critical state. pennsylvania. details next, this is bloomberg. ♪ david: this is bloomberg. election ande the according to a poll, hillary clinton has a nine point lead in the critic

i'm mark barton in london.

telling bloomberg's mark barton, they will remain united. >> i suppose it will be for you to decide ift is a softer hard brexit, but i would assume the connections will remain very close. rosalind: the u.k. housing market strengthened in september, after the shock inflicted by the brexit vote faded, and sales continued. that is according to the royal institute of surveyors, who says value continues to climb, the priciest real estate in the country. chiefl speak i economist today. and the thailand government is warning to ignore rumors about health licking. they cut short a provincial trip to bangkok, preparing for a audience with the crown prince. they should rely on official announcements concern over the mark. has bond weakening. global news 24 hours a day powered by 2600 journalists and analysts in 120 countries. you can find more stories on the bloomberg at top . i am rosalind chin. this is bloomberg. anna: thank you very much, roslyn. the hang seng in hong kong under pressure. chinese trade data. juliette saly has the details for us. juliette: anna, that is right very sluggish

let's head to mark barton for your asset check. mark: we are down by 0.4%.ellen on friday talking about allowing the u.s. economy to run hot has seen long yields rise today. talk of inflation overshooting, hitting core bond markets throughout the world. today, fall or in europe the world's biggest education company, reporting a 7% drop in comparable sales for the first nine months amid a slowdown in the key u.s. market for textbooks. pearson gets almost cap its profit from education and is facing sluggish the man for textbooks. googling u.s. college enrollment ling u.s. college enrollment. big news at the weekend -- shareholders of bengal, lori -- banco pololari approving italy's biggest bank merger since 2009, the biggest since monte dei paschi. it is going to create a lender with a market value of 5.7 billion euros, 171 billion euros in assets. this is how the shares have fared since 2007. polare town. -- down. they have lost almost all their value. janet yellen hinting at letting yields run hot. treasury 30 year yield surging friday, ending the biggest tw

ejra: i'm nejra cehic in for mark barton.onnie: we will take you from washington to london and stories out of wall street and south africa. the british pound extending its slump. the u.k. is headed for a so-called hard breakxit. the imf warns that rising political tensions over globalization are threatening to derail a world recovery. chief economist joins us on the world economic outlook. south africa's finance minister says the police investigation into him is nothing but li

mark: i am mark barton.e: we will you from san francisco to london. breaking economic data on the u.s. housingbreaking economic de u.s. housing front. julie hyman has the latest. julie: home sales. september sales following, .oming in less than estimated analysts had been anticipating a pace of 600,000. gain in new month home sales of 3.1%. that is close to almost nine-year highs. a 593,000 annualized rate.