mark mobius is a buyer.anus cranny, the executive chairman of the emerging markets group said impeachment is not yet fully priced in. ? >> i don't think it is fully priced. i don't believe that we have seen a big rise -- when you are at a low point the percentages at great, but when you look where we are headed, we have a long way to go. another 100%, 200%. manus: with you had money? >> yes. guy: let's carry on the conversation out of berlin, talking to the brookings institution director of global economy and development. good morning, sir. thanks for taking the time. the world is watching the emerging market, seeing something of a recovery. how much of that is based on what is happening with the dollar? >> well, i think the two things are linked, but there has been a great pessimism the reaction against the emerging markets over the last six months. this is a time of correction. i think the medium-term forecast remains strong -- a lot of the center surround china and the uncertainties, there is also the iss

mark: mark mobius of templeton emerging markets. stay with the theme and turn our attention to nigeria, africa's biggest producer, joining us now for an exclusive interview. thatdirector general of year is national pension commission, overseeing its $25 billion pension system. thank you for joining us today. you've been part of this massive overhaul of the country's pension system. tell us some of the measures you have implemented. >> thank you very much, mark. i think the main thing with the departure from the nigerian pension deficit system to a similar area where you have $25 billion in assets ready for investment, the protection of the workers retirement benefits through their own individual retirement savings accounts, which are completely accountable and get quarterly statements. this is done by professional savings account managers who our administrators. reports to thed pension commissioners and regulators and this has gone a long way to streamlining the pension administration. mark: how important is the pension fund to boos

that is according to mark mobius. he spoke to bloomberg's manus cranny. don't think you need a freeze. i think the market will handle it. the demand for oil continues to rise. it is not going down. the recount, globally, has gone down precipitously. this only means the supply has got to diminish, despite what is happening in the middle east, and the demand will continue to rise, and the combination of this means that we will see a higher price for oil going forward. manus: do you think we could trade through this $45? $30 is what we are writing about. you see the potential to break significantly above $45. mark: i'm looking at $60. i can't speak for everybody else. i'm not saying when. manus: i was just about to say, can i get $60 by the end of the year? mark: quite possible. these prices are driven by derivatives not by actual supply and demand. some event could trigger a big jump in price. black swan,swan, whatever color you want to call it, the iranians aren't for stopping at the moment. i know you say to me a freeze is not what we need, but you do need

i spoke with mark mobius, and he told us there is no need.obius is betting prices will rise. >> i do not think you need a freeze. the market will handle it. you must remember that demand for oil continues to rise. it is not going down. the account globally has gone down precipitously. suppliersmeans that have to diminish, despite what is happening in the middle east. and demand will continue to rise, maybe 1% or 2% a year. means wenation of this will see a higher price going forward. manus: we could trade through the $45? you see us having the potential to break significantly above $45? >> i am looking at $60. i cannot speak for everybody else in my company. i would say $60 is the target. i am not saying when. manus: i was just about to say. $60 by the end of the year? something there will be a rebalancing. >> it is possible. these prices are driven by derivatives, not by actual supply and demand. some event could trigger a big jump in price. gray swan, the iranians are not for stopping at the moment. i know you said a freeze is not what we n

mark mobius. ashley, back to you. ashley: impressive. all right.razil struggles with the zika epidemic, also could be heading toward south florida this summer. but one company says it could prevent that with the genetically modified mosquito. fox business bill joins us live from florida with the latest on this fascinating story. phil. >> right now this is all about preventing a zika outbreak. florida accounts for one out of five zika cases in the whole country. and that's why both u.s. senators in florida and public health experts now favor releasing 3 million genetically modified mosquitoes into the air in this neighborhood. right now the food and drug administration is evaluating the potential impacts on the environment, public comment period ends tonight. british lab says its genetically engineered males produce baby mosquitoes that die off before they bite. and it reduces the mosquito by up to 90%. >> people who live in the community there's going to be what we want to have the test, they have reservation because it's in their backyard. and the

emerging market investing legend mark mobius of templeton. e unafraid to put his money now because he looks down the road and says i will make money there? i'll be going one-on-one with mr. mobius and more from the salt conference in las vegas with @cgasparino, @mariabart row row -- bart row bartiromo. i want a t-shirt made. >>> closing bell 35 minutes away. the dow is up 207 point9. solar flare, storm clouds building over the solar industry after a pretty significant but interesting disappointment from one of the sector's hottest names. up next, fox business' jeff flock shines a light on just how deserving solar energy really is of the financial support it's gotten from the government as the government turns away from coal. look, some believe it's time to turn toward things like solar is and wind and away from fossil fuels. remember, it was president g.w. bush who granted incentives, so tweet me @lizclaman. let me know what you think about this. have you had solar installed? what do you think about down the road where this country's going? fa

mark: mark mobius is there from bloomberg market middle east. vonnie?nie: what comes next for halliburton and baker hughes? after the 28 billion dollar oil merger collapses. we will break it down, coming up. ♪\ ♪ vonnie: live from london and new york, i'm vonnie quinn in new york. mark: and i mark barton. this is the "european close." vonnie: halliburton is going to have to pay baker hughes after the two called off their merger. from u.s.ame regulators in the justice department. end, let's bring in and are from our princeton bureau. why are people surprised this did not happen? andrew: i think people are a little surprised because halliburton and baker hughes said they were committed throughout the entire process and stayed steadfast of that commitment. there were skipped this -- there were skeptics along the way. towas going to go from three two, and that is what ultimately killed the deal. vonnie: they were committed. but it didn't automatically suit the consumer and those who are going to buy the oil services. that point, there were only going to be

emerging markets investors mark mobius and franklin templeton says it will rise.t middle east mark mobius asked if there will be a production freeze? >> the market will handle it. you must remember that the demand for oil continues to rise. it is not going down. the rig count globally in the u.s. has gone down precipitously. this only means the supply has got to diminish despite what is happening in the middle east and the demand will continue to rise maybe 1% or 2% a year. a culmination of this means -- a combination of this means we will see a higher price of oil going forward. >> do you see we beyond this $45. how far? >> i am looking at $60. i can't speak for everybody else. [laughter] $60 is a target. i am not saying when. [laughter] >> can i get $60 by the end of the year? people think there will be rebalancing by the end of the year. >> it is possible. these prices are driven by derivatives. not supply and demand. some even could trigger a become a big jump in price. >> grace want, black swan whatever kind is one you want to call it. the irradiance are not

franklin templeton's mark mobius saying dilma rousseff's likely impeachment is not in the markets yetlliburton and baker hughes call off a $20 billion deal. and two top economists weigh in on the fed's june decision. ♪ david: welcome to "bloomberg ." jonathand westin with ferro and megan murphy. megan: happy mayday. the nikkei 225 closing after a holiday friday down by three percentage points. futures stay positive in the u.s. s&p 500 positive almost six points. , the fxg the boards market. year-dollar close to year-to-date highs. dollar-yen, they gained about 1/10 of 1% coming off the 18 month low. in the crude market, up almost 20%. we trade any much debt flat around the 46 mark. so many stock stories out there. matt: a ton going on. hughes dealon-baker first. calling off a $28 billion merger that faced very stiff resistance from regulators in the u.s. and europe over antitrust concerns. they were the second and third largest oil service firms. the $3.5 billion termination fee -- second largest payout in corporate history after at&t paid t-mobile $4 billion to walk away from tha

mark mobius, the emerging market genius of templeton funds, you'll see his interview with me tomorrowve from las vegas and the bellagio and the salt conference. we're adding pepper here on fox business. this might look like a zero-gravity drop... but it's actually a triumph of predictive analytics. because of optum. through population health data, they provide insights so doctors and hospitals can identify high-risk patients. like me... asthma... potential hospital vitis so now thanks to optum, this asthma thing's under control. gravity not so much. this is healthier, powered by optum. from health plans to providers to employers. we connect all parts of health care. healthier is here. . >> millennials are up in arms over the instagram app, they swapped the cameraics confor bright sunset colored square with outline of the camera. the new design is minimalist and basic. >>> l.a. to san fran in 30 minutes in the desert north of las vegas, hyperloop one connected the first test of the system. the five second test is to show the potential of propelling passenger pods at high speeds. it's a

oil producers are considered a deal to freeze output but mark mobius says there iso need. some analysts are warning oil mady tumble to $30. but mobius is betting prices will rise. >> i do not think you need a freeze. you must remember that the demand for oil continues to rise. it is not going down. globally in the u.s. and globally has gone down precipitously. the supply has got to diminish despite what is happened in the middle east and the demand will continue to rise year, and the2% a commendation of this means we will see a higher price going forward. angie: you can watch more of that on our new show " bloomberg markets middle east." has kicked off earnings that australian banks reporting slighter weaker than expected first-half result. paul allen right from sydney right now. run us through the numbers. what do they tell us? paul: first off, earnings were actually up 3%, but it was not what the market was expecting. billion was delivered and the average estimate was for $4 billion. it was dragged odown by the institutional arm. four major exposures according to westpac