. ♪ ♪ matt: live from the german capital of berlin, i'm matt miller.e: and from new york, i'm vonnie quinn. in this is "bloomberg markets." focus,ime for futures in deputy i could hitting a two-year fresh high following the idea that russia and opec are working on details for supply cut deal. joining us is scott bauer of trading advantage. scott, it seemed we were set on a deal making were getting in nine-month extension. and russia might be throwing a little bit of uncertainty into the mix. scott: sorry, cannot hear you. vonnie: i will try you one more time. we have oil above $58 a barrel with russia potentially throwing some uncertainty into the debate here. if you can hear me, how much further it will go before we get a final deal or no deal next week? scott, we will come back to you later in the show. thanks for joining us this post thanksgiving day at least. matt? matt: no worries. i am here with the bloomberg business flash. let's look at the biggest business stories in the news. france, they said they will quit funding and funding -- quit fundin

anna: let's head to the other side of that relationship with matt miller, who is in frankfurt. matt: i am wondering then, what you do as an investor. is it all about the pound? are there any other plays, because you think the market is as present as and so, it is a great opportunity to make some profits. >> i have to say, sterling is definitely not one of my top actuallys in trying to make money here because it is subject to a lot of headline risk and volatility. i think so far, the price action we have had over the last five or six months tells us the 1.30 level is a pretty strong support level and seems to be saying to us that the market, at this level, priced in a relatively reasonable brexit risk premium. so, i think, if you want to be relatively tactical, and want to play it smart, any level between 1.30 to 1.31 should represent a good buying opportunity, mostly against the dollar, not against the euro. i say this because i have a relatively bearish outlook for the dollar. in the end, we are going to have some unlocking of the process towards the discussions about trade. an

matt miller is in frankfurt today.resident patrick harker saying he does not want to see the yield curve inverted, but are we moving in that direction now? sterling slumps as theresa may faces yet another challenge. the prime minister speaks at e, and a. u.k. tim rival takes a bite out of bitcoin. 150%in its fifth year, a surge. is that beginning to come to an

i am matt miller in frankfurt. standing in front of the ecb as the world's most powerful central bankers gathered behind me. let's get the bloomberg business flash. ed: at&t will dig into whether the white house influenced the justice department's review of its land takeover of time warner. if the government seems -- sues to block the deal, in the event of a trial over the deal, at&t intends to seek court permission to access to committee case is white house and the doj. both declined to comment while the justice department referred to earlier statements by the department and the white house. credit suisse will pay $135 million to resolve currency manipulation allegations by new york's banking regulator. bankrs at the zurich-based shared information about clients currency orders and talked to traders from other banks. in some instances, tranders --

manus: matt miller is live in berlin. good morning to you. the reasons for this last-minute allapse she says, it's profound examination of germany's future. matt: yeah. the reason, according to people we were talking to in the cdu and her party, and people in the greens, is that the ftp walked out of talks. one of the members of the green negotiation team said that was well-timed spontaneity by the ftp, implying that they had tried to walk out earlier in the weekend anyway. the ftp, the liberal party here in germany, which would have been a minority partner in this government, says that they weren't getting enough progress on the tax cuts that they want, on the business friendly environment they want to create here in germany. they were also concerned about the state of europe. the stp once nations to be able to leave the euro and still stay in the eu, so this was something that was a disagreement, and they have had other disagreements with merkel in the past. matt, many of the options that now lie ahead are pretty untested in postwar german h

i am matt miller alongside guy johnson at bloomberg european head quarters in london. u.k. budget. [laughter] matt is here to deal with the current account. let us talk about what is happening with the stock break down this morning. equity markets at the headline of are not going anywhere. they had a solid day. the grr, basic resources bid this morning. banks on the front foot. hsbc trading up quite strongly. oil and gas as well. we have seen performance out of the oil markets. an opec meeting next week. media, technology, travel. that is where the money was rotating out of. look at the first word news update. here is at ludlow. u.s. navy aircraft has crashed into the sea selfless evoking our. sea, uss okinawa. because cause of the crash is not known. is bettingel's party on a revised alliance to dodge the risk of a snap election according to people familiar with the discussion in berlin. they say that while merkel has publicly stated she is open to another vote, her preferences to renew the partnership that underpinned two of her three terms in charge. zimbabwe is wak

a lot of decisions might be made in berlin, which is where we find matt miller. lie, you hear all to my are saying they can overcome these differences, but angela merkel wants her fourth term in power. get it, we might have to have new elections for since thisime germany has existed, this postwar germany. in the euro area that you point out look like one of the biggest sticking points there are. the other two parties don't necessarily need to be in power. they can be in opposition. is this priced in, the possibility that the german government may not be formed and we may have to hold the elections? what would that do to the european investment outlook? charles: at this point, i don't think it is priced in because the processsed to of coalition formation in germany, which is always very , and almostwnout inevitably, and a lot of horsetrading and wrangling as we are seeing right now, goes on as part of the process. to see a degree of political uncertainty kick in, clearly that wouldn't be good for risk assets across the other but equally on the side, you still have

matt miller joins us now. give us an update. laying out her demands that both sides are cautioning each other from expecting too much. she lays out her demands from a position of week this. seeing the preview of this fight. it's the spd telling merkel what they want. more time, she will have to listen carefully. the group from the biggest day in germany says they want a new insurance system that everyone has to use. now germany uses a dual insurances. they want higher taxes on the wealthy and higher social security payments for his -- for those who are retiring. these are the biggest shots your hearing. on thursday, merkel will meet her challenger with president. they will discuss it. the spd will lay out fairly high demands. they wanted to stay in the opposition. so they have a lot less to lose than merkel does. she's really fighting for her fourth term. let's see how the political gaming goes. matt miller in berlin. let's welcome our guest act in. jane foley. the head of fx strategy over at .ane foley --rabobank there seems to

back with matt miller.s is bloomberg. ♪ guy: you are looking at live pictures coming to you from seoul. timing seems flexible this morning, but we are anticipating they will speak this hour. we will bring you that press conference live as it begins. let's take you to frankfurt. let's go to matt miller. he has a fantastic guest with him. matt, over to you. matt: thanks, guys. i am at the ecb supervisory conference. let me start by asking about the single supervisory mechanism. this banking supervision mechanism that you have set up a couple years ago has matured quickly. are you happy with the current state of banking supervision? >> i think we made huge progress the last three years by identifying risks in the banking sector, and mitigating them. .aving fair supervision we are not yet done. as a supervisor you always have a lot of work. there are challenges for the european banking sectors. it means for the supervisor to be on your tip toes and look into the issues, the risk emerging. matt: we have seen a n

matt miller here in berlin, great to see you. ceo of about the challenges facing the retailer? hello, one of the big challenges has been the huge store footprint. they announced early this your that they were closing and number of stores. they still have over 600 and the cfo said earlier in the year that 245 would be the magic number of stores. i asked the ceo about that today in if they had further plans to close further stores. he said the store footprint is vital. >> if we announced we would close 100 stores, we close 70, third -- there are 30 more to go, there may be properties here and there we will be closing. we serve nationally in all communities as the macy's brand. the interplay between the online business and the bricks business is important. >> one of the other things you heard as they were talking about the e-commerce is an is and how important online is. that's where the momentum is when it comes to sales. it's expected that online sales will grow to about 20% this holiday season and the real benefit will be the onl

washington correspondent for "the new york times" and former chief spokesman for the justice department matt miller is also here. matt, i'm going to start with the tweet that you sent out this morning that gave me a jolt. trump's doj tweets are like wattergate, out in the open instead of hidden in secret. the fact we could get used to it makes it even more dangerous. i heard from a longtime former senior justice department official who had served in the reagan justice department, both bush justice departments that this was the thing that this president has done that most reminded him of the nixon era and the damage being done to the presidency is serious, he says. >> the difference is richard nixon did all this in secret. president trump is doing it kind of right out in the open. there are the two biggest abuses of power that any president can do is try to use the justice department to persecute his political adversaries or try to get it to back off investigations into his political allies. he's already tried to get it to back off into an investigation into his allies, trying to get them to back of

matt miller, i first saw this on your twitter feed. it seems to go to the heart of any line of questioning about whether the president of the united states has committed obstruction of justice. >> that's right. and i think the attorney general essentially answered the question today. when you dodge a question like that and don't answer, that's a way of confirming that, in fact, the president -- this goes back to the key period from january 20th until may 9th when he fired jim comey that really are at the heart of the obstruction of justice piece of this investigation. that's when trump was pressuring comey to back off on mike flynn. calling around the intelligence community trying to find anyone that would irpt ven intervene ae fbi and get them ta back off. it's hard to imagine he called all these other people and didn't call his targ aexert his influence. that's a confirmation. and he may be able to get away with that on the hill but he's going to have to talk to bob mueller's team. if he declines to answer that question in an intervi

matt miller. also former chief spokesman for the justice department and who is in the house, nbc news intelligence national security reporter ken delanian. ken, i must start with you. the correspondence between donald trump jr. and wikileaks. even if it was only three direct messages or e-mails, three is greater than zero. >> so good to be with you. cia director mike pompeo today says wikileakings is a hostile nonstate intelligence service doing the bidding of russia. during the campaign,professed h. he mentioned wikileaks 145 times in the last month of the campaign. >> 145 times. >> 145. and so now we know this may not have been an accident. donald trump -- these records show that donald trump jr. was essentially corresponding with an agent of russia. he may not have seen it that way at the time. he was getting hundreds of incoming. it's true that we only see a record of three time also he wrote to them. but the one time i'm focused on is where they say, could you tweet out this link to john pode

i am matt miller here in the german capital of berlin.ook at markets just about 14 minutes into the trading session today. we are seeing losses across the would havethis he known if you watched, u.s. stocks fall yesterday. japanese and asian stocks fall overnight. the celtics its hundred down as well, .6% pure the ftse is only off by .3% right now, even though the continental indexes are off by a little bit more. upon had been down this morning. it is now up. really little changed to the euro, gaining a little bit more than the pound right now, about .25%. guy: just another order coming out of the dubai air show. fly dubai, a low-cost carrier, relative short-haul, but low-cost, is going to place an order with boeing for the 737 max, which is the neo-version of the 737, the a320. a big order coming through for airbus this morning on the new engine option, the 320 neo. a substantial order coming through for boeing on its narrowbody, the 737 max. we will look for that to come the very shortly. let me take you to the ego bloomberg.our cpi dat

matt miller is in frankfurt today. we're watching president patrick harker saying he does not want to see the yield curve inverted, but are we moving in that direction now? sterling slumps as theresa may faces yet another challenge. the prime minister speaks at e, and a. u.k. tim rival takes a bite out of bitcoin. 150%in its fifth year, a surge. is that beginning to come to an end? matt: it will be interesting to talk about that, only an 800% gain for bitcoin. i'm going toy go speak with the ceo of ing and of, deutscheeo deutsche bank, and i will stay here to see how janet yellen get on with mario draghi of the ecb. take a look at where futures are pointing this morning. as we see the pound down, we've had a game in u.k. futures. futures,ee cac ibex futures, also pointing to a strong gain. that has a lot to do with the currency moves, as always, guy. guy: what is happening with the pound is fascinating this morning. the market is getting antsy about theresa may's action. down, but itng is interesting to see how much su

attorney general coming before the judiciary committee and just lying and lying and lying. >> and, matt miller, in your experience working with the attorney general in the justice department, it would seem to be, especially under oath testimony that who in the administration would take under oath testimony more seriously than the attorney general? and when treading in an area where you're asked, have you had contacts with the russian government, and you don't remember or don't report that you had contact with the ambassador, it -- i find that as stunning as senator franken did the first time around. >> it's impossible to believe. look. you're right. he is the nation's chief law enforcement officer. he leads the department that prosecutes people every week for failing to tell the truth in court, to fbi agents. it matter that is he is honest, especially under oath. look. the problem here is it's mott just that he came up as ron said and lied the first time. i think some people who are willing to give him the benefit of the doubt that maybe the first time he went up, didn't remember correctly, co

i am matt miller here in london.k about the banks ranking list that is put out by the financial stability board which is a g20 mechanism that keeps track of the world's biggest and most important banks in terms of their danger to the system should they go under. they have five buckets with which they rank the banks. but the number five being the most dangerous and bucket number one being the safest. the higher you are, the more you have to pay in terms of a capital surcharge and they come up with a list that shows a number of banks, all of them falling to a less dangerous bucket. citi falling from bucket number three to four. 2%.surcharge will be it had been 2% -- it had been 2.5%. the only bank and bucket for his jpmorgan. there are no banks and bucket five. paribas, credit suisse, royal bank of canada all falling to lower buckets. only bank of china rose to a higher bucket. guy: it is a greco. an event that has a portable house. a greco probably provided -- the stock is being crushed this morning on the london mark

in london, things are exciting with thickly but not as much as they are in berlin where matt miller cane found. coalition talks collapsing. merkel's attempt to form a new government all in a part. the euro is trading lower. government mulls over raising the exit payment. hitting $8,000. matt? matt: let's take a look first off at futures where they are trading after the coalition talks here in berlin collapsed late last night, early this morning, depending on how you want to look at it. we see futures down across the board. we have asian markets down as well, but there are other reasons for that. not the collapse of the berlin government talks. i think they had export numbers that were disappointing. see futures are down almost three quarters of 1%. if you take a look at other closely tied to merkel's forming of a government, you see the euro coming down. this is a three-day chart. you can see how it traded after two days and then the collapse in trading this morning. the question is, is it a by the dip moment? or do you see the trend may takeg down? this possibly weeks or months to clar

i'm matt miller. i'm anna edwards. let's go to the auto sector.ve sales growth with a 5.9% rise in october. and the general demanded france helped revive european car sales in october offsetting another month of consumer unease in the u.k. on big ticket purchases. shrinks a seventh month as brexit talks struggle. 8k --es surrounding the u.k. car industry. british land also reporting numbers in real estate. they are giving a dividend increase of 3%. is one of the real estate businesses in the united kingdom that has been more optimistic in terms of the post brexit vote. . -- brexit vote period. we heard from one of the real thoughtusiness that skittishness amongst consumers could danger the business. asset value up by 2.6%. that looks to be a little bit ahead of where analysts had it. let's look at futures. we're looking at a positive start to trade. the asian equities have bounced back. days of buying the depths on the u.s. market, investors seem to be in a different mood this morning. perhaps stressing the positive. the global growth story. putti

ravi, matt miller here in berlin.you see the national treasury still have institutional strength percent africa, or has the removal of the management changed there? ravi: fundamentally, i think the treasury is still very good broadly at controlling the expenditure line and controlling expenditures. the we have seen actually, recent problems have been on the revenue side, where because of the poor growth, the revenue has not been up to expectations. they are still good at controlling the expenditure line. iswill have to see if there any turn away from that. the issue around how much they are going to support the contingent liabilities is something else we will look at. but so far, they are still pretty good on the expenditure line. s&p, when you consider a downgrade, do you also think about the effects that downgrade will have on the currency, the bonds? a self-fulfilling prophecy thing. if moody's follows, a lot of investors will have to exit. fundamentally, we look at the fundamental analysis and we have a criteria a

matt miller is back in berlin. do you really see schulz rolling over on that? d bargain for a grand coalition? matt: problem is that i can see him rolling over on this. that could be a problem for the voters as well. some of the members against the ideas say why would anyone trust us if we swear we are not going to do it, and the we do it just because they pull out of coalition talks. on the other hand, it doesn't look like to have very many options. schulz is really stuck between a rock and a hard place here. he is stuck between a rock and a hard place. the one thing about politicians that i love is they are survivors, even in nuclear times. this is about already having seen a dissipation in your political race. that a reasonable assumption in germany, which is be speeding, survive, don't take it from the polls. schultz's up for reelection as head of his party in december. he wants to probably keep that place. on the other hand, you are right, i'm sure he wants to do what is right for his country, as every honest politician would. the final thing to consider is

anna: matt miller is life for us in berlin. does angela merkel think she would emerge stronger from new elections? there are many different views about who would gain if we go t o the polls in germany. matt: there are a number of competing views on that. becauseone's guess now it would be such a long time until we have those new elections. we would have renewed campaigning. merkel is sure that she does not want to be in a minority government. indeed, the german people would prefer not to have a minority government. there have been a number of polls since sunday night, showing the germans overwhelmingly prefer new elections to that. so do many of the parties. you heard merkel say that there. the greens have also said they would prefer new elections. is whereoks like that we are headed. the only question is, how long will that take? i'm going to interrupt you. we have the turkish lira against the dollar, a new record low for the lira. the central bank opens new forward auctions. this is a new record on the currency. the comments

jonathan: matt miller is in bloomberg, stint -- matt miller is in berlin, standing by. hat chancellor merkel did not want in minority government. what is on the table right now? matt: our understanding is she said as much in a television interview just a couple days ago. she would prefer elections to a minority government, but we also heard martin schulz say that he would not under any circumstances join a coalition with merkel and he would refer -- prefer new elections as well. somebody is going to have to do something that he or she does not want to do and it is because the president of germany has taken over and is trying to or's together a government, majority or minority. he does not want to call new elections. jonathan: as we reflect on the u.k. experience of coalitions. the lives learned very quickly that it is not a good experience, being with the conservative party. is that going to be the reason they stay away, keep a step back? that is absolutely the experience of the parties that have been in coalition with merkel's cdu. the fdp, the liberals, they joined a c

for the latest details, let's bring in bloombergs matt miller in religion. we are hearing angela merkel is not planning a minority government? she has said she would rather face new elections then go in a minority government. this is in an interview with the state television channel. it will air in about five minutes. we got a look at it first. she really would refer to form a coalition government. she has asked the president to .ut pressure on the spd he is a member of the spd party, although he is supposed to think about the party first before his party and role as president. fpd hasd -- the rejected going into a coalition. sherry: is this because it would be so difficult to roll with shifting alliances? because int is just the last election, the spd is in a coalition. the biggest parties and germany got clobbered by that the fpd is a grand coalition as a real problem. resultgotten its worst in an election since the war. it does not want to go in to this again. the last attempted to make a coalition, when they were in power with her cdu, they lost the elect

i am guy johnson at our new london headquarters alongside matt miller who is over in frankfurt. less than 30 minutes to the start of cash trading. ♪ a brexit breakthrough on bill helps divorce push up the pound but is the market ignoring the irish border? north korea says its nuclear program is complete but investors failed to go ballistic. he will take care of the situation. will he? $10,000.rosses will we see aggressive profit-taking? that today not see because bitcoin is up another $500 in today's trading. currency gp.he xb if you look at the percent missed price it indicated again for the dax and the cap this morning, indicated loss for the ftse, the euro stoxx. up .51%. it does not look like equities on the continent will be opening a negative territory but there could be pressure in the u.k. guy: are we talking about irrational exuberance again? the famous greenspan words that came to haunt the markets. it took a while to get there but that was a factor that the markets ended up having to deal with. let's take a look at the s&p record after record after record on u.s. equi

i am guy johnson alongside matt miller. cash trade starts in 30 minute'' time. this is bloomberg. ♪ the technology stocks in u.s. and asia turned red as investors dumped to this year's out performers. could this effort -- offer some respite? tapped todfriend is feel the fed chair seat. will bring you the latest from vienna. matt: i am looking at the futures here, take a look at equity index futures. we can see the percent missed price on the bloomberg showing a negative open for the ftse, slightly negative on the dax and positive on the cap. it is a mixed trade if you look across the entire european sector. take a look at treasuries. i have a three-day chart and we can see that they are trading flat. yesterday the yield rose six basis, points. investors selling off treasuries -- six basis points. investors selling off treasuries. when they have that cash, could they use it to go into some of the value stocks that were so popular in the u.s. yesterday. to see how that makes broke down. banks in focus ring sold, rippling into the asian session. some of the more te

matt miller is in berlin.pecial counsel bob mueller is subpoenaing documents from the trump campaign. they's upgrades india for first time in 14 years after a selloff in e.m. bonds this year. is this a buy signal? -- the ecb president is due to speak in an hour. we will take that speech live on bloomberg. matt: we are less than half an hour from the open, european track -- cached trading. look at the mixed picture we see on the futures board. euro stoxx futures are gaining slightly. ftse futures are down, as our cac futures. dax and ibex futures gaining. you don't get it clear picture when you look across asset classes. yesterday, the s&p 500 in the u.s. was up .8%. that is more than one standard deviation away from its 30-day mean average. today, we see people buying -- biting, biting bunds. will it be risk on or off? guy: feels more risk off at this stage. there is a lot to get through today. in terms of points of action, there may be fewer than normal, but you are digesting what is happening with the muelle

matt miller is in berlin. here is what we are talking about. the chinese correction very much underway. shares dropped dramatically after the government warns about runaway prices. bond markets. the selloff is continuing to gather pace. are the panda bears back in charge? the dollar sharply lower. is the market going to be right again? how divided is the e.c.b.'s governing council on the exit from easing? 12:u.k. meeting at time. matt? matt: we're less than half an hour away from the start of european trading. happy thanksgiving by the way to you as well. because the u.s. markets are closed you may see a little bit less volume today and tomorrow nobody in his right mind is coming to work either in america. be prepared for light volume that could mean a lot of -- more volatility than we typically expect. here you see futures pointing down across the board. take a look at bonds here. a three day chart of bonds on my screen. the yield on the german debt shot up yesterday to 38. it is back down now to 34. we're looking at bonds, bond buyers that ar

jonathan: joining us from frankfurt is matt miller, from bloomberg. tt, it is a fascinating conversation. when you put these guys on the same stage together, we will all be listening. what have we learned and how we can apply it to monetary policy and how it may or may not evolve in the next coming years? matt: we have had job growing, but forward guidance is supposed to be more transparency, more solid delivery of a message for the economy, and to a number of different audiences. >> we are focusing on zimbabwe, trying to figure out what we should do next because the president is set to be ready to step down after being in power for almost 40 years. the fallout is quite significant, and will continue to be a very significant one in the coming weeks. how significant is it as it is now and not one year ago or two years ago? >> certainly, if you think about it, it is an interesting thing as you are heading towards the elections next year. it is an interesting one. president mugabe, he has just fired his vice president, emmerson mnangagwa who a lot of peop

i want to bring in matt miller who worked for the previous attorney general. matt, when you look at this kind of hearing, and you've prepped an attorney general for these days, do you think that jeff sessions did what he needed to do? >> i think he was a lot more careful today than in previous sessions. i think this was lawyered up version. if you look at his answers, he started many of them with i don't recall, i don't believe. he is not nearly as definitive in previous hearings, making statements that got him in trouble. he's still asking to you believe versions. he didn't remember this meeting with george papadopoulos. as you pointed out, now only remembers the part of it that's exculpatory. he can't remember anything. he can't remember donald trump's response. there are these inconsistencies. he doesn't remember, then remembers part of it but not anything else. >> you said he sound lawyerly because of how frequently he couldn't recall. let's take a look. >> i don't recall. >> i don't recall. >> i don't recall. >> i don't recall. >> i don't recall. >> i do n

joining us is matt miller in berlin and still with us is chris harvey of wells fargo. he president said start talks again? matt: it would've been more ofnificant if the leadership the opposition party had not voted on new election. they were the emergency go to coalition partner for merkel and her christian democrats has said forget about it. they are not doing it, even without schulz and merkel. they would prefer to have new elections. the greens have said new elections are the most likely path going forward. merkel has told her party bosses that anything should be avoiding new elections. it does not seem her weight along with the president are going to bring about any coalition. alix: once the process then of new elections? has seven daysr to make sure he can't somehow form a new government or asked the parties to do so. after that, he would dissolve parliament and the new elections would be called. everybody would want time to get ready. we are hearing that march or april is the timeframe we would be looking at for new elections. joanathan: the market really does not

joining us now, matt miller. the stp the outcome of leadership meeting? : the leader of the party has renewed his refusal to join a grand coalition according to rbb, a new source here. another new source says the party chairman has said he is want to wait with the country's president to advise them on what to do and if the spd is willing to go into talks. this party is one that is not unanimously agreed on any task. the party leadership did vote unanimously on monday not going to coalition and to push for new elections. looks like the new elections option is one that most people are now seeing as less preferred to moving ahead. manus: to a certain extent, that is political expediency. a rerun of the grand coalition, this could be seen as to really extract some kind of real policy terms for merkel. is that what is his tensing schulz? -- is that what is tensing schulz? matt: nothing is tempting schulz because he is refusing to go into a grand coalition. that could be key to what the looks like in the future. my german is not good enough to give you that nuan

good morning and welcome to "bloomberg markets: european open" and i'm matt miller in berlin, alongsidelondon. guy: matt, that china story relating to the tariff cuts is impacting the market. this is the breakdown of the stoxx 600. food and beverage is the outperform or. doingstocks like unilever very well on the back of the fact that china has cut key milkfs on areas like baby and hard liquor. it is not a big uplift, but it is a meaningful uplift in a market that is trading absolutely flat. the swedish sector is outperforming by half of 1%. with get a bloomberg first word news update. reporter: good morning. biggest opposition party says it is open to talks on backing a government led by chancellor angela merkel. reporters were told that the party is ready to start discussions. if that is the course that the president decides upon. he spoke after eight hours of talks in berlin that wrapped up in the early hours of the morning. u.k. officials have tried to accelerate the brexit negotiations by suggesting that rather than wielding the veto next month, ireland could block a final accord i

i am matt miller in berlin. coalition talks leave preliminary coalition talks. state of these talks is right now, because i did hear christian lender say he is not afraid of holding a new election. the greens appear to be willing to give new ground. where do things stand? >> they are in the middle of preliminary talks right now, and if you look at any negotiations, especially negotiations as complicated as you have now, there is all kinds of weitioning in terms of are not afraid of new elections or willing to give up demand on this. we heard from the greens who gave up their demand to end coal-firepower, and these are hardline been made on the campaign. it is a way of saying we are going to soft and a certain -- soften a certain demand and we want something in return. guy: who is going to be the german finance minister? patrick: don't know. that is a question financial markets are asking, right? patrick: the official coalition talks start probably at the end of this month. they want to wrap it up by the end of the year. german politics, if you stop bringing thes

matt miller, enjoy the weekend, gentlemen. >> thank you. >>> an nbc news investigation of property that name revealed to be a place where criminals were able to hide their cash. nbc's chief foreign correspondent richard engel takes us to panama for the details. for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. i work ovi need when i my blood sugar to stay in control. so i asked about tresiba®. ♪ tresiba® ready ♪ tresiba® is a once-daily, long-acting insulin that lasts even longer than 24 hours. i need to cut my a1c. ♪ tresiba® ready ♪ tresiba® works like my body's insulin. releases slow and steady. providing powerful a1c reduction. my week? hectic. my weekends? my time. ♪ tresiba® ready ♪ i can take tresiba® any time of day. so if i sleep in, and delay my dose, i take it as soon as i can, as long as there's at least 8 hours betwee

security analyst matt miller. the former chief spokesman for general eric holder. pete williams, what was your big takeaway of the hearing so far of jeff sessions? >> if i had to pick up one thing, andrea, it would simply be this. all these calls for another special counsel to look at how hillary clinton's e-mail issue was handled, how loretta lynch conducted herself, how there was completion of ea uranium deal. what he basically said to them today is, i have your letter. we'll look at it seriously. we've asked the career people here to look at it but there's a very high bar before we can open another special counsel investigation. i thought he was really trying to tamp down expectations that there was going to be another special counsel open on this any time soon or even at all. >> and matt miller, from your perspective having been at the justice department, pretty extraordinary that the president of the united states and others in the republican party would be pressing the attorney general to investigate the defeated opposition candidate on charges, frankly, that

am guy johnson matt miller is in front for. what are we watching? off with the geopolitical story. the blame game. trump

. >>> matt miller and nick are joining us. nick, the white house and the president seem to be pretty frustrated with all of this. they are denying they're angry, the president is denying he's angry but he's admitting himself that he wants to be more involved with the fbi and the doj. we played that sound bite a second ago. i think we should play it again. the president frustrated that he himself, the commander in chief, who's not supposed to have any contact with niece two administrations, he himself wants to be the one in charge of this. let's listen. >> i'm not supposed to be doing the kinds of things i would love to be doing and i'm very frustrated by it. >> it goes on a little longer than that. he's frustrated that he can't be involved in the doj. frustrated he can't be involved in the fib. he says he might have it out with them later on. for those of us -- for those out there who might say, why can't the president be involved in these two -- these two departments? after all, he is the head of the country? >> well, it's ve

bloomberge joining radio and a few minutes time with matt miller and myself.a, the surveillance team, speak to credit suisse's ceo. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ francine: stability over shakeups. nominee defends the status quo of ahead of his confirmation hearing today. talk the banking sector exclusively with mr. thiam: -- tidjane thiam. and softbank is pursuing uber. ♪ francine: good morning everyone and welcome to "bloomberg surveillance."

i am matt miller . .akes this the mostold christ expensive work of art ever sold, obliterating records and far exceeding its estimate, which was only $100 million. but what does this sale tell us about asset prices and the state of global markets? let us get our thoughts with steen jakobsen. we already heard you talk about the fact that you think this points to bubbles, but i mean, it's just an amazing price. blowing away the record. what is going on? in bitcoins.d that is the only way i can justify that price, to be honest. and clearly, this is bubbles. we see it everywhere. we see it in the amount football players are getting paid. this is too much money this is the -- too easy monetary policy for too long. matt: name our junior could not afford this painting. but let's take a look at the chart i have got here. this is a tenure look at the s&p 500 price-earnings ratio, trailing in green. forward ratio in yellow, but you can see, even with this slump we have had over the past week of trading, we have not

jonathan: we have left matt miller all alone over in frankfurt. pply to what monetary policy might look like from the ecb next year? matt: not so much to monetary policy, although vitor constancio said they stand ready to change it if needed. obviously. what i thought was interesting was about the overstretched valuations. he continued to refer to the u.s. assets as overstretched and maybe some other global assets as overstretched, but repeated that they did not see that anywhere in european assets, assuming you take bitcoin as a global asset. he really was, the ecb really is less concerned about overstretched assets anywhere from housing prices to bond , as they stock prices are about asset prices globally. jonathan: matt miller, great to catch up with you. joining us from frankfurt with a great interview with vitor constancio, the ecb vice president, which you can watch in full on bloomberg.com. stickingemani will be with us. gdp numbers are next. a second read of u.s. gdp. i want to bring you the scores of financial markets worldwide. a nice ral

matt miller is over in frankfurt today, talking to commerce bank a little bit later on. talk about this mess this story in a little bit more detail. the shares. this is the world's wind turbine maker and has fallen the most since 2012. the idea is they have missed third-quarter estimates. this company is talking about full-year shares, something as they say. this is the second leg of a move we are seeing on the stock, because the first move, and you can see that here in the rock, let me take you to this screen, this is a move lower. the u.s. tax credit story started to service -- started to surface, sorry -- as the tax to vestas's products in the state. joining us now is anders runevad . good morning to you, sir. thank you for taking the time to be with us. the stock -- anders: good morning. guy: your stock has taken a big hit this week. a huge hit this week. do you think that the moves that we have seen in the valuations of your company in any way justify the business going forward from here? anders: yeah, i mean, for me, of result i can look at the in the third quarter

julia: that was the airbus chief operating officer speaking with matt miller. waiting on sarah huckabee to hold a briefing following the house's vote on tax overhaul. their version of overhauling the tax code, learning the tax burden for most individuals and -- to the federal deficit over the next decade. the numbers will move around, i'm sure. julia: in the senate have a harder time passing their version, and then it will go to conference. there is a long road ahead. scarlet: the first step in the process. ♪ ♪ julia: it's 3:00 p.m. in new york, 1:00 p.m. in san francisco, 8:00 p.m. in london. i'm julie chatterley. scarlet: i'm scarlet fu. welcome to "bloomberg markets." ♪ julia: we are live in bloomberg world headquarters in new york over the next hour. here are the top stories we are covering. overhaul, breaks for hedge funds in the republican plan. ofthe house, their version tax overhaul, we await the first white house press briefing tens the president possibly turn from asia. we speak with saudi arabia's energy minister about an oil free future. we are one

i spoke with our own matt miller in berlin.out why and he was saying that belgium, holland and spain had caretaker governments. investors in think this could be the case in germany. chart, we areis talking about the euro. ago, we saw its fall by about half a percent. and it isng, it rose down about half a percent. this is the only uncertainty that is out there that we are seeing in terms of the markets and currencies. german immigration, now in terms of policy uncertain. brexit uncertain. angelaitical future of merkel herself. those are the terminal charts i'm talking about today for germany. yvonne: coming up, focus more on ratings,os and fitch asking why the strong demand for luxury cars is going to last. this is bloomberg. ♪ ♪ betty: this is daybreak asia. the automobile group is in talks with fiat chrysler. speaking exclusively to our zhoua correspondent, guang the it is ready to enter u.s. market. we talked about chinese break intorying to the american market for years now. can guangzhou do it? correspondent: that's right.

francine: matt miller from berlin.est host .or the hour james bevan thank you so much. do you speak german? how do you follow up? it is fascinating. she has been dominant for so long there is no obvious heir apparent either in terms of leadership or philosophy. there's no telling which way the -- will move. what mr. draghi has been describing is a creature of the bond is bank and not the ecb. francine: if this is the end of era, who has the most to lose? i was told she was the one that brought people together. when nikolai sarkozy would not want to sign something she would convince them and they would sign together. choose a political figure that is dominant. for the rest of the world more so than germany, almost. to be i would say macron the most obvious winner. he is charismatic, a thoughtful individual, statesman-like in a way. he has been able to do extraordinary things in terms of getting stuff done in france. francine: does he not need angela merkel? the franco-german access, he can't go it alone. james: the ques

interview with matt miller she said she would have liked a clear exit and different decision. >> i madeber. i would have liked to see a clear exit. there was a different decision made and we will see in the next year how things are developing. a fellow german and longtime critic of the plan expressed his dissent within a day of the announcement. the gunman in the texas church shooting may have been able to slip through a background check to buy the weapon he used in the massacre. the air force fell to report the attackers 2012 domestic violence conviction to the fbi's criminal database. the senate may look in the gaps in the firearms background check system. theresa may's ministers are to in the first steps toward making the country a global trading nation after brexit. they are rewriting customs laws that will come into force once the u.k. links the -- leaves the eu. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm taylor riggs. this is bloomberg. steel will come up in the state dinner in korea. the president dining, roughly 12 or

jerry smith and matt miller, thank you both. >>> up next, connection between jared kushner's newspapereaks. reporter exclusively on the "the beat." and punishing journalist for actions in trump inauguration protest? that's later. i love you so much. we're going to be best friends forever. let out your inner child at the lexus december to remember sales event. experience amazing at your lexus dealer. ♪ do you want clean, stain free dentures? try polident. the four in one cleaning system kills 99.99% of odor causing bacteria, cleans where brushing may miss. helps remove stains and prevent stain build up. use polident daily. (hard exhalation) honey? can we do this tomorrow? (grunts of effort) can we do this tomorrow? if you have heart failure symptoms, your risk of hospitalization could increase, making tomorrow uncertain. but entresto is a medicine that was proven, in the largest heart failure study ever, to help more people stay alive and out of the hospital than a leading heart failure medicine. women who are pregnant must not take entresto. it can cause harm or death to an unborn baby