afterou have an instance the debate, the mexican peso could strengthen by a huge amount. has become this barometer for donald electoral possibilities. his is it still a barometer for emerging markets? >> no. the way in which it really plays is because interest rates are relatively low in mexico and because it is a very liquid currency, if investors want to move into high currencies -- for example the r the me -- lira, a fairly wide account deficit. politics as well. it tends not to do as well as you would have thought in a world where people are putting andn terms of fixed income race by by the high income rates markets. therefore it is become a little bit of a barometer overall but i think we can probably overplay that. >> i'm curious, the other country that you associate with trump is russia because he is perceived as being conciliatory towards putin. is anyone talking up playing the ruble from the opposite perspective? >> no. but is much more of a throwaway line from mr. trump. will not something that have a fundamental impact on the russian economy. russia is really i

the mexican peso has certainly been beaten up.urrency that has been traded to china with risk. certainly we need to watch out for the polls are. it is a trump risk rather than a certainty. i think people will remain cautious. >> i think the polls caught everyone by surprise. angie: a good point on twitter "all of the 600 people that i dia,ow across financial me tech types independence say hillary won that debate." what does that mean when you throw it out to the masses? >> donald trump was saying that he one. [laughter] -- he won. >> whoever listens to the pundits and says who wins after is a fool. in media in the united states, you are either one side of the other. they hit on both of their points they wanted to do. that soundbite on hillary clinton, drilling down to his ethics. he responded by saying, it's business, and i was just obeying the laws. and if you want to change the lungs, change the laws. -- change the laws, change the laws. >> certainly the debate had points for each parties. anybody isss of what actually saying he

have the dollar against the mexican peso. ther words, the dollar is falling and the peso is gaining. it is set for its best one-day gain since february and it is the best performing currency against the dollar. while, the yen, as i said, is the worst. have the canadian dollar here, greenback losing, and the canadian dollar gaining. it is strengthening from its weakest since march. we do not actually see a gain in the oil price. in general, we see a rally in the risk assets today. oil has haulted its gains after two days of price swings. this is ahead of htthe meeting algiers. will the production be frozen? you can see the inverse relationship between the oil price and the output rising. given us will and -- the venezuelan oil minister says prices could tumble below $20 if no deal is reached. anna: the bank of america has begun its own corporate bond buying program. the bank of england has a list of bonds eligible for purchase in the 10 billion pound scheme, including overseas companies such as verizon and apple. joining us now

offeremerging markets more juice than the mexican peso. trying to make a political statement right there. >> you could think you want to put on a trade when hillary wins, then you're probably selling the ruble and buying the mexican peso. bloomberg story today about the trade of mexico against the ruble because trump is more positively disposed to russia than hillary is. sherri: the japanese yen as well. it was thought it would weaken if hillary won the debate. >> you could say that, but the real juice, the sex and violence, in the mexican peso. talk about the juicy ones here in asia. it is all about high yielding currencies, or is there more to it? >> i think there is more to it. , would you going to do throw them into negative rates? that doesn't sound attractive. so we like the low yielding surplus countries, but also the high-yielding current account deficit countries of india and indonesia. we have this barbell approach. turkeying in europe with hungary. hungry -- sherri: something not very juicy is the sterling. >> i can offer you a

the best performer, the mexican peso.e are seeing relatively big moves on the back of this presidential debate. is the fundamental discussion happening at a presidential level? will it feed into the mexican peso as much as markets are reacting? >> it's hard to say really. with the u.s. election, it seems to be very personal at the moment with the debate between the candidates, and the market response and with the long-term market outcome will be is going to be tricky. the point i would highlight is draw some comparisons with the in the u.k. a couple months ago. that was a very digital event. it became way too close to call. we know the result was not what the market was expecting. this is probably the situation you have in the u.s. it is difficult went to pay for an outcome based on that very tight range. a couple quick charts to go through. let's take a look at what is happening with the yen and the euro. month. dollar-yen, one it has come down a lot, volatility. why? ini think these falls dollar-yen volatility have to d

lauren: the mexican peso, the hot proxy that with the u.s.lection could the peso jumped 2.5% in late trading yesterday. some investors said were driven by perceptions that hillary clinton did well in the debate monday night. amazon's newest ambition is competing with ups and fedex. amazon is building its own delivery operation of a bold challenge to shipping partners. the move could radically change the traditional relationship between seller and sender. the sales force enters the e-commerce. the service aimed at helping customers set up online storefronts and in-store tablets and kiosks. we just told you socks are up yesterday for the first time in two days. teens in technology and consumer stocks and after the first presidential debate monday, the market may be signaling a want hillary clinton to be our next president. gary b. smith, also a fox news contributor. good morning. what do you make of the market's reaction to the debate on monday? >> you know, i have to say i keep questioning whether i was watching the same debate. the convention

dollars versus the mexican peso. that means the mexican peso gets hit hard.e's back on the rise towards the end of the chart and from the blue line, the peso is heading lower again. coincidence? maybe. i talked to a dozen strategists about this. some said not much here it's about the price of oil. you can see going back a few years that correlation is very real. mexico is an exporter. gets hurt when it falls and lately the sell off has wayed on the mexican peso. also had credit rating down. the trump threat is real for mexico. if he does rip up nafta and try to renegotiate it as promised if elected. that is an if. that could be a huge blow to mexico's economy. most go to the u.s. more than half of imports come from the u.s. and america has poured hundreds of billions in foreign direct investment into mexicos economy, especially since nasdaq has taken affect. that number has shot up more than 600 percent. the bottom line, watch the peso. buzzing about this idea that it shorting the peso is a trump presidential hedge. you don't see that much election impact in

mexican peso, 19.38. that gets my attention.rtly, it " with davidg westin, jonathan ferro, and alix steel. alix: we will be following this risk-off theme we are seeing in the markets, definitely hitting deutsche bank hard as well, really looking at those coco bonds, the lowest since charlie -- early july. we will discuss all about with rick rieder over at black rock and get his take into the doj, into the fed next week, and what does that rising yield curve mean. is it technical? is it fundamental? tom, you will be online at the apple -- in line at the apple store to buy your iphone? tom: i did it in april. what did you learn about oil this week? alix: you have goldman sachs saying lower for longer. oil is recalibrating the investment potential. 50 others are saying we are going to see higher oil because it is a tighter investment now. tom: "bloomberg " coming up. final thoughts with lakshman achuthan. i want to talk about the clear and present paycheck, which, i guess, is pretty good for america. lakshman: there was a

big outperformer was the mexican peso jumping by 2% against the u.s. dollar. that's in part because of course donald trump has been very, very starch opponent against nafta and all things mexico. >> people writing in on twitter talking about whether or not the market is getting it right or wrong in terms of the decision who won the debate. keep your tweets coming through. >>> john mcdonald won a stands ovation at the uk labor conference yesterday as proe missed to redirect the tax burden towards the wealthy and proposed a large hike to the minimum wage. steve is in liverpool. steve, two issues that lots of people might be very happy to hear. >> reporter: well a lot of people here at the labor party. there's a unity problem. i came to liverpool to my first labor party. i heard about the moderates versus momentum, left wing versus central british politics. i came with an open mine. pretty much everything i heard says that disunity from the parliamentary labor party had a no confidence vote which led to the leadership election of mr. corbin again and the party is

tom: the mexican peso, resilient real -- i have never shown this before -- the mexican peso, the brazilianave never shown this before. the above hockey stick we have seen in the last number of weeks , this is the idea of stronger brazil -- or is it really about weaker, weaker mexican peso? many would suggest this is off the improvement of mr. trump's process. wilbur ross will be here in a bit, and we will talk about his ardent support for mr. trump. picture foris is a what we have seen. after the announcement this morning, this is a three-day chart for that yield that went into positive territory for the first time since march. this is something we will talk about with -- that we were talking about was george goncalves -- we are not sure how to cap it. how do you make sure it stays at zero? tom: we have had a fabulous discussion about some of this arcane and original macro economics. now joining us, maybe the guy with the most interesting job in economics, kevin logan with hsbc. the idea that you have to deal with james steel's call on gold -- you have daragh maher with a 1.10 sterling. wh

we mentioned the mexican peso. day. weaker for a fourth is also tied to donald trump's election prospects. let's look at precious metals. brainerd was dovish. we saw a bit of a pop from the lows of the day's for gold. silver did better -- no, it did worse. anyway, you can still see the same pop and coming off the lows of the day, still down. scarlet: let's take a deep dive into the bloomberg. we talk about how volume has come back. participation has come back. summer is over, and global seems to beress making a reappearance. in february, there was talk of a global recession. this volatility has held for the most part, which indicates there is more financial stress than usual. there was a big jump on friday. percentage jumps. on friday, this index jumped 112%. matt: how many days did we go without a 1% move? scarlet: 40. matt: we had a 2% move on friday and it looks like we will have a 2% move on the nasdaq. had so: the last time we much volatility was back in august of 2015. matt: and the demand for treasuries has dropp

that is the dollar-mexican peso. ebate, and the dollar is sharply lower while the peso is rallying. the peso is now off its highs from the session. first of all, it was very short. liquid,e of the most high beta, e.m. currency. you have what might the trump -- with the itmp presidency -- he says really is about to rape you about their trade deficit, as well as foreign and direct investment. about 40% of investment into mexico has come from the u.s. since 2010. it could have severe impact on the economy and the dollar-peso. dollar-peso.st the you also have the new zealand dollar moving higher, as well. it has a developed risk on fx. david: alix, thank you. the first debate between hillary clinton and donald trump presented a start contrast between the two candidates. it devolved into an exchange of acquisition -- of blame. president obama and hillary clinton crated a vacuum in iraq. once they got in, the way they got out was a disaster. isis was then formed. ms. clinton: donald trump supported the invasion of iraq. tha

the market gives -- the mexican peso rallies from a liquor low. stocks gain -- from a record low. carney goes corporate. the bank of england opens a new front. we are joined by martin gilbert. ♪ francine: welcome to "the pulse." live from bloomberg's european headquarters right here in london. we have a great show lined up. we speak to goldman sachs peter ,ppenheimer and in 15 minutes lapo elkann joins us on set. we talk brexit with aberdeen asset management ceo, martin gilbert. first, to the markets. we are seeing a lot of moves on the back of what was a controversial, a sparkly debate. financial markets judging the first of three american presidents abates, a went -- presidential debates, a win for hillary clinton. u.s. stock index futures rising with equities and asia and europe. we do have to have a conversation about janet yellen and whether if donald trump wins .e will replace her it lets get to the bloomberg first word news with nejra cehic. nejra: syria's foreign minister says a cease-fire is still viable. the comments came even as rescue workers and aleppo sifted through

mexican peso.e donald trump rises in the polls the more the pace falls. 2% move because markets perceive that hillary clinton did better. the wall did not come up last night. what if we talk about the wall a lot? >> if you were watching the debate and chart of the mexican peso at the same time which i know to do -- >> so smart in my next cocktail party. >> when trump came out arguably strong the chart wasn't doing much. then it changed after 30 minutes. >> you have been in germany what were people talking about the u.s. election? >> in the beer tents of oktoberfest? not the election. i met british guys who hated trump. that was a bad british accent. yet they backed brexit. they were talking about immigration issues in the uk. not a lot of talk about deutsche bank. i thought there would be more in the papers. i think we are talking about it more now. >> how was the beer? >> cold. >> volumeinous. >> thanks for watching power lunch. "closing bell" starts right now. >>> hi everybody, welcome to "closin

over the last four months, it shows you the mexican peso versus the u.s. dollar. the yellow line, the stronger the peso, the higher the yellow line, the weaker the peso. naturally, you see a lot more weakness and strength. the correlation. this is the day back in early may when donald trump became the to. you see the peso beginning a timeframe of weakness. it gains a little bit but donald trump starts to paul even with clinton during and after the gop convention. just to show it can work both ways, here is a decline coming after the convention in cleveland when we started to see hillary clinton fight that. finally, donald trump support reaching the bottom, beginning to decline beginning and then this chart only takes you to the end of last week. the peso today is weakening partly because people are concerned about hillary clinton's health. willshe lose support, donald trump gain support based on concerns about her health that we saw yesterday when she was at the 9/11 ceremony and had to leave. an interesting chart showing that as long as donald trump is strong, the

the mexican peso, approaching 19.87.t volatility, we have seen a huge spike ahead of the debates. a 30 point range on volatility. is this indicative of not knowing the plans? just that it will impact mexico, for example? trumpyes, fundamentally poses more uncertainty and that is why you are seeing some of the markets beginning to anticipate that. david: looking at president, have people made radical adjustments in some way? some people do and i think the different thing about this one is that both candidates have such high unfavorable ratings that it is the tendency of anyone, an investor is no different, to try to make decisions about one's own on favorability ratings. be aink that that would mistake. boxes checked. vonnie: senate races are probably almost more interesting and could even tip the balance. is that what you're looking at for your clients rather than the actual presidential election? paul: in our report we were considering not just presidential or senate outcomes, but a congressional or presidential senate

we have the chart of the connection mexican peso.ery sharp move 1.4% suggesting that markets are knowledge. i want does take me a little bit back to brexit where, of course, we saw markets make a very strong move leading up to the outcome and they got it wrong. the demographics of financial and forex traders are very different from the demographics of the people that make up this election, particularly overnight because this was asian traders in tokyo and in hong kong that moved this market. so when we make that point markets seem to have a clinton victory. it should be taken with a pinch of salt because people moving those markets are not people who make up this election. >> i'm surprised we don't see the canadian dollar move in tandem with his commentary and where trump stands. >> those are the must reads. still to come investors react to last night's debate. trade was a point of contention last night. listen to them go head-to-head on that issue. >> your husband signed nafta which was one of the worst things that ever happened in

and we put the mexican peso in there. the peso, becoming the proxy for the u.s. election. this will be the focus of this quarter. the skit to the bloomberg first word news. -- let's get to the bloomberg first word news. reporter: the japanese consumer prices fell for a sixth straight month in august with household spending plunging more than 4.5%. however, this is modest third-quarter growth. this underscores the challenge faces as he tries to get inflation up to his target. u.s. treasury secretary jack lew has used a message to mexico to deliver a pro-trade message. key technology the stress caused by globalization. stresscknowledged the caused by globalization. there are fears that this trump presidency would contribute to relationship between the countries. u.s. consumers appear to be shrugging off initial brexit concerns. jfk's confidence index increased six points, beginning th regains from june. household expectations for their personal finances improved, but business confidence remains lower. a guage indicates expansion in september and further signs of stability in

joe mentioned the mexican peso. s having a moment as a proxy for emerging markets and donald trumps candidacy. the blue line you are looking at is that pesos drop versus the dollar. it is inverted. when the line goes down, the peso is depreciating versus the dollar. the purple line is the other 399 riches billionaires tracked by bloomberg. publicly traded electronics retailer tumbled. also, the rally and his other company has been running out of steam. i thought it was fascinating because on the bloomberg wasionaires index, salinas the biggest loser and latin america. joe: the peso slide causing a lot of pain. i want to revisit a chart i looked at a couple of weeks ago. it is still interesting. amazon versus the price of silver. it demonstrates how everything is correlated. two weeks ago, i thought it was but it haseresting, continued 23 straight days when they have moved together. 16, theyseptember quickly moved apart, but he race that cap. they are up again today. i like anything that demonstrates how everything mo

bloomberg,en to my something like the mexican peso might react. equities are reacting.en clinton and trump in the polls, the s&p continues its march. does it break out of its range at some point? playthink how the polls out will be important in terms of the u.s. election. i think as we get closer we will likely see a substantial swing. we could see markets breaking out of those ranges. reality, there is so much uncertainty around the event itself. how you price donald trump presidency. the uncertainty around policy. thinking, the monetary environment is going to be the dominant factor that helps the market absorb these political elections. the senate referendum, etc.. speaking of central banks, the boe is holding the corporate bond market. what you think we will see? >> i think to be honest the moves that probably are priced in. the bank of england has been very transparent in terms of what it's going to buy. size.ndicative of the there will be less transparency in terms of what it's for. i think we know well ahead of time that the market has moved. it reflects the buyi

ed about the the closest proxy, where we have seen the most reaction to polls, has been in the mexican peso. we are seeing the peso rise versus the u.s. dollar. the most romantic move coming after the debate last night, sort of during and after. watchas been the asset to that has been linked to the election. mark: 90 minutes left of the session today. the perception that hillary the presidential debate sent stocks higher in the first couple of hours. then the shift turned to banks, to oil and gas companies. reason, expectations of a freeze in algeria receiving. oil and gas stocks are down. we saw the biggest drop for the gauge since july 6. the other german lender is set to announce 9000 job cuts and a fault in dividend payments. this is according to handle/ --handelsblat. that comes after bloomberg on friday reported that commerzbank is paired to cut thousands of jobs. the chief executive looks to boost profitability. shares are down by 1.4%. let us get to the beleaguered italian lender, which is rising today, up by 1.5%. it said it is studying a voluntary debt for equity swap after canvas

stocks, shrugging off and the mexican peso meeting the emerging market. [closing bell] scarlett: did dowd joe -- the dow gains, extending its quarterly advance. joe: the question is, "what'd you miss?" >> we break down all the market moves by asset class. >> nike may be losing its cool, retailers are picking more in demand styles. nike earnings, just minutes away. >> we speak to a former executive at the italian treasury about what's next. we begin with our market mention. consumer confidence comes in at a nine-year high. much better boost in consumer confidence than people had anticipated. we got past the hump of the presidential debate, which had caused uncertainty. >> that's right. if you take a look at the s&p 500 you can see that it closed up today, led mostly by retailers and technology companies. part of that is the relief rally, part of that is the consumer confidence numbers that you mentioned. we were also talking about banks earlier. rebounding a bit from yesterday. closing up yesterday from where it was yesterday. eating into a bit of the reli

you saw the mexican peso jump 2%. that is a hit to trump when the peso jumps. this is another way to look at what is going on and response. thanks for everything. nice to see you. >>> up all night watching the first presidential debate. so much to talk about right now. an epic battle. "new day" picks up right now. >>> you've been doing this for 30 years. why are you just thinking about these solution right now? >> donald, i know you live in your reality, but that is not the fact. >> i will release my tax returns when she releases her 33,000 e-mails that have been deleted. >> i call it trumped up trickle down. >> hillary has experience, but it is bad experience. >> at least i have a plan to fight isis. >> no, no, you are telling the enemy everything you want to do. >> no, we're not. >> i have a winning temperament. i know how to win. >> okay. join the debate by saying more crazy things. >> this is "new day" with chris cuomo and alisyn camerota. >> welcome to "new day" to our viewers from around the world and the united states. it was must-see tv. hillary clinton

in the mexican peso tumbles. profitability problems. says overcapacity in european banks. this, as greta traders expressed concern over deutsche bank's weakening -- this

you see it with weaker mexican peso. francine, front and center, there is no other story this morning. it is about the collapse of deutsche bank. francine: i don't know of we can call it collapsed yet. the share prices under significant pressure. we talk about the fact that banks are having a tough time. confidence rising to the highest level since 2014. i want to show yen because we had government wrote a talking about it. i want to show you turkish lira, it is a slump. it is leading losses among emerging-market currencies after moody's cut the nations that rate european stocks downward -- rate. your been stocks downward. tom: by collapse i'm looking over a nine-day intraday chart here the idea of deutsche bank, 13 to a 10 handle against -- 10 handle gets your attention. i agree with taylor, it will be the most watched ever. the buzz on this debate is off the charts in america. the red lines are the recessions. half a century of presidential real gdp. 1.9%our moving average -- statistic, that is white standards is doing

dollar has made versus the mexican peso. slumped as donald trump's odds of being president increased and he did not win the presidential debates on monday and that sent him lower in the polls. that boosted the peso. mexico's central bank raised interest rates this week to make it more expensive for traders to use a peso to hedge risks out as well. we had all that deutsche bank news breaking. important to see what kind of action they take to try and stay me what has been happening. -- stymie what has been happening. >> the peso is tied to commodities. first, a quick look at corn prices for the day. they headed for their biggest gain in 2 weeks, a government u.s. report that showed stock piles trailed analysts' estimates. for the week, oil prices moved around. the big news was that opec wti nor -- neither surpassed it. you see brent is at 50, but they do finish the week higher. we got to that $50 level for brent and crude. those are today's market minutes. let's take a deep dive into the bloomberg. i want to look at treasuries

we are seeing a real market reaction in the mexican peso, very close now to 20. we are actually trading at 19.8269. what happens after today? several traders are calling for a hike of more than one of the basis point if it's off 20. itin: that's too extreme, may send off alarm bells because the markets will take it is a view that there is no price -- there's a high price to the currency. 20 is a psychological number, if we get through that, markets will get concerned and look for a response. we are more than what the going to get a response on thursday, 25, 50 possibly. we still have another month volatility. the first bid tonight and several more on the horizon. the peso will remain in the spotlight, in the glare. interveneobably not in the stock market, they will , we will see to what extent they continue to defend the currency. there are a lot of people who think this thinks go to 22, 23 of trump were to win the white house. vonnie: kevin daly, thank you. before leo management on the fixed income -- portfolio management on the fixed income team at holy managem

there we are on the mexican peso, steven wieting of citigroup. shots board, france. -- francine lacqua is in strasbourg, france. francine: i would go back to the words of jean-claude juncker. this is not like president obama. he does not have an executive power to force countries, member states, to do what he wants. but he was reflective. he brought it back to the founding said the eu and said this is an essential crisis at the moment -- that this is an existential crisis at the moment . he wants countries to go back together to find that commonality and purpose for the eu going forward. francine lacqua in strasbourg, france, stepping out on the brexit debate. there is much more across bloomberg radio and bloomberg television today. with markets on the move. i might say this is the day where we really begin to look forward to september 21 and that fed meeting. within the education and the correlations of asset classes, we will speak with philip verleger and why du care? care? why do you he looks for or lower oil prices come way outside the consen

you have been on the mexican peso thing.s in the polls the worse the mexican peso does. maybe there is a coincidence between bill's tie and your dress but no coincidence in terms of polls and the mexican peso. should volatility be back in the market? if that were the case i would think close toor 25 than current levels now. clorely the market is not all that concerned with potential trump victory y. do think a trump victory in the short term is bearish for the broader market. i don't think you are seeing the vix price in the potential to win the election yet. it might start as we start to move towards october. >> or maybe it is not just something that investors are worried about. either they don't see it as reality or maybe the prognostcaters are wrong. >> it's very wrong. the market doesn't want to pick outcomes. it is very hard to figure out whether or if trump won what would happen. i think it is very unpredictable. the market focuses on things that they can put into their equations and all algorithms, the only variable w

linton takes the late one as the mexican peso strengthens.and david rosenberg on america's economic politics. there is no debate. you should own stocks. and the desperation of japan. in this hour, robin feldman of morgan stanley and tokyo. this is "bloomberg surveillance" live. september 27, prancing with quiet in london and tom look francine lacqua in london. i would put it as a multiple-day decline. francine: we need to be careful what language we use. the markets are nervous. it has to do with angela merkel. the politicians maybe have not reassured shareholders enough. it has to do with a huge sign from the boj. deutsche bank share price is volatile to say the least. to really try to understand why there is so much volatility -- how do you fix it? in thee: -- tom: afternoon, commerce bank with the idea of managing 2020. their goal is to get to november maybe as a first idea. here is taylor riggs. taylor: the addresses were highlighted between hillary clinton and donald trump. at hospira university, the candidates faced off for the first ti

i'm looking at mexican peso lead. i rarely do this. i usually leave the peso for the end.um last upk, guy, and somebody came to me and said, "to hell with the red sox, quote dollar canada more." so i am quoting dollar canada for a guy who was vicious to me at yankee stadium. guy: that never happened to me at a rugby game, but i look forward to the moment. the paper story is interesting as well. up's look at what is coming on "bloomberg go ." alix: we are talking about a potential trump lead could mean for the equity markets. we will cover what to expect from lael brainard speech later today. cooper says that his call is now for a 50% chance of a september rate hike increased because of her speech later on today. plus, with the selloff, are we looking at more distress opportunities per jamie head ofn, the global the situations fund that kkr -- huge gaps. going to talk about whether the market is distressed enough to start putting money to work. he $.3 billion. tom: thanks so much. how about this, folks? cosan extent. the opec report, michael cohen was with us -- cosagh

also the mexican peso rallied during last night's debate. wing you the energy boards right now. crude at $45.27. and the peso 19.47. in the last few days of the mexican peso had hit all time lows against the dollar. >>> we'll have plenty on last night's presidential debate in a moment. but first a quick look at this morning's headlines. volkswagen shares are under pressure this morning. u.s. government and the automaker are in talks about a settlement regarding the diesel emissions scandal. and there are reports that officials are pushing for an extremely large fine. we'll get a fresh look at data on home prices a little later this morning. the s&p report for july is expected to show a 5.1% a year increase. and a legal victory for american express. a federal appeals court appealed an earlier ruling that barred merchants from steering towards competitor's cards with lower merchant fees. >> bravo. that was good. justice was served. we talked about this. >> i thought you were talking about how well she did that. >> she did a wonderful job readin

. >> if trump wins tomorrow, the mexican pesos is going to go to 21 and it's a time to buy. some of these trades overshot territory. that is bun to watch. >> what's the setup. >> do not miss cnbc's full coverage of the president aldebates tonight at 9:00 p.m. eastern time. >> twitter soaring. not only is disney looking at the social giant, but microsoft is too. are we witnessing the start of a bidding war, and is it too late to buy the stock? >>> plus, amazon set to soar 20%. we'll tell you what's got him so bullish. >>> and one stock up 80% so far this year and a top technician says more room to run. we'll tell you the stock when "fast money" returns. >>> welcome back to "fast money." we've got breaking news on hedge fund giant peri capital. kait. >> hey, melissa. this difficult hedgefund and general market environment marks another casualty if the flagship of perry capital. according to a letter reviewed by cnbc and dated today, richard perry says that after 28 years, he is closing down his flagship fund at perry capital. his words, "although i continue to believe very str

dollar at ont of the focus has been the currency, mexican peso, the canadian dollar. dollar yen may be the focus, could break 100, some say if donald trump steals limelight later on tonight. what could close in the region, taiwan. an early look at what we expect in the region this morning, but betty, a choppy session in wall street overnight. betty: it was choppy. again, almost everyone i talked waitday is saying, cannot to watch the debate tonight. is our stocksset reporter. oliver, explain the weakness we saw in u.s. stocks, what is going on? >> is like one of these days where you have the big event and it is easy to attribute things to that event. there is not always a clear answer, as we know. first of all, it has been a pretty risk off day, with all the red across the screen. s&p, theou look at the dow, nasdaq, also doing pretty weak. up, it has been one of the green areas on the days in which we have a little bit of weakness. that was not the case today. they are down. very clear result. the other thing we thought that he is the breakdown in the stocks, and bond

the mexican peso, which hit new lows of the past few days instantly recovered and surged 2%. the dow jones added around 100 points on tuesday. the u.s. residential elections are known to be tricky, so we will have to wait and see what happens. >> bloomberg is reporting the u.s. government is considering a massive fines. do you have any more details? >> as for now, volkswagen shares lost nearly 2% while investors seemed concerned about the prospect of a massive criminal fine. a civil sense -- syllable settlement is said to cost $13 million. with more than $32 billion in net liquidity, it will take a next for very fine to put. and anywhere closer to insolvency. while revenue of a trillion dollars could borrow money to stay afloat in a crisis, investors are not thrilled at the prospect of another hit we will take a -- that will take a toll on the profitability. >> thank you so much. on a different story, global trade growth is slowing dramatically. the world trade organization is slashing its global forecast by more than a third. the warning comes and faces opposition by both tr

the mexican peso and dollar are rising. mexico and canada both have very close trading ties with the united states. they're part of nafta and that is a trade agreement that has called the worst deal that the u.s. ever signed. >>> the pharmaceutical company mylan makes 60% more from the sale of its epipen than says the company pockets $50. the "wall street journal" reports that $100 figure had been reached for the epipen profits even though the company pays a lot less than that in corporate tax. >>> and gas mileage estimates for about one third of new vehicles sold in the united states will fall about a mile per gallon, it's mostly because drivers are loading up on option that's really drag on engines, like heated seats, people are using m conditioning and they are driving faster. chris and brianna. >> chris is guilty, he's raising all those extra things. so you want extra and nice, you lose out on the gas mileage. >> reporter: i'm a fan of the heated seats, i'll tell you that, especially in winter. >> i think it's worth the

stock futures, the asian markets, even the mexican pesos. analysts say that's because the financial markets view her as more predictable than trump when it comes to trade and foreign policy, scott. >> pelley: nancy cordes, thanks. to trump's possible advantage he in a race in which 69% of voters tell us the country is on the wrong track. here's major garrett. ( cheers ) >> the winner! >> reporter: at a bakery in miami's little havana, donald trump enjoyed coffee where they said the first presidential debate was a smash hit. >> that's one of the biggest shows of the history of television, biggest debate ev >> reporter: former new york city mayor rudy giuliani accompanied trump as he often does and suggested he boycott the next two debates. here's what trump told us last night. any doubt that you'll participate in the next two presidential debates? >> no, this was a great experience for me. i really enjoyed it. i think we got our point across. she's not going to make america great again. >> reporter: but by the morning trump was complaining th

and again, a surge of donald trump of support in the polls and we got a weakening of the mexican pesoon sunday we had hillary clinton's health scare and that has really pushed weaker and peso into weaker territory. why? we have a bloomberg poll that just came out that isn't an actual poll. if you look, the weakening of the peso that we have seen with donald trump's polling numbers, a bellwether state in ohio and what our poll shows is that donald trump is leading hillary clinton there i five points. and what do you see? you see the mexican peso just off a record low weakening by .5%. worst emerging market currency for the last year. david: do you think it has something to do with the wall that he wants the mexicans to pay for? part of it.s he wants the remittance to do that. and that goes to help support the peso. obviously if he was to do that, and he also is against nafta. that he's a good chart. he annotated it and i did that. weeks, ithe last few am looking at risk parity and what the risk is with a market selloff. this is the risk parity index and the idea is that if you are a ri

.ll signs indicate joe: risk is showing up in the market and lots of people showing up to the mexican peso. the trump risk in the peso. curves.e forward risk.es of downside it's the blue line there. and we see it goes out nicely there. this red line, you can see there's a lot of concern given the economy there. and this green line. the further you go out on the curve, you see more concern. you want to pay more to protect against future events. you see a sharp increase. the estimate of the peso volatility, by preparing against another neighbor in canada, you can really see what makes the peso standout. scarlet: there's a lot of debate over whether it is a good gauge for his electoral chances. joe: but you can see on this , traders are playing it. scarlet: i'm going to stay with the emerging-market theme here because we will see a piling age of emerging-market assets. i am looking at the price here. the blue line shows a share outstanding. vanguard is used by more advisors for retail investors. people are still getting the price going down. the demand is still rising. people are looking. i w

kevin: in the mexican peso.cy has been the biggest underperformer. ,ast year we had a huge crisis since then the pace i was down 10%. pricing in a lot of bad news in mexico, and also ins thehat trump w presidency. guy: if secretary clinton wins the election, are you pre-positioned for that? how do you play around that? virginie: the first thing is within the u.s. i think it is more clarity and continuation. financials, be it for construction, housing, etc., is -- it is a continuation. if the u.s. does well, mexico could benefit from that. i terms of the session in, think that asia is well-positioned. asia is doing ok. numbers inot great indonesia, the philippines, and even china. are seeing stability there and it removes a potential instability event, instability in the world. in general, that is encouraging markets and i would want to be in areas were icy growth and positive supplies. that may happen in brazil, but we still have to remember the petrobras potential negative surprises. tom: do you need to hedge t

you guessed it, the mexican peso. us fundamentals clearly do not matter in this world of easy money. wonderful presentation. i don't like this one judge decision. there are no checks and balances. even though i love this, i will give you the win. congratulations. >> well done. we do have breaking news. the fed governor commenting on the stress tests, thing this would demand more bank capital. more on this and the comments in just a moment. airbnb cofounder and chief technology officer is our guest. more on the big expansion plans. this is bloomberg. ♪ vonnie: live from london and new york, i am vonnie quinn. mark: i am mark barton. this is the european close. time for a look at the biggest business stories in the news right now. the largest stock exchange in , buying back global markets. this is the first attempt to go whenc in 2012 was spoiled the firm software had problems. asking the eu to approve the 40 $3 billion takeover. this would turn it into the largest supplier of pesticides and chemicals. to big takeovers

this is dollar-peso back 30 years, the weakness of mexican peso. 1994 is the red hawks. we go up to the success of mexico. in recent weakness is a lot more than people think. mexico peso weakness has my attention although it is a little bit about secretary clinton and donald trump and that the adjacency to the american election. guy: i think the story of the last 72 hours has not been about the fed. tom: i agree. guy: it has been about the boj. from reporting that we are doing bojof japan, suggesting the may widen the range to stiffen the curve. that has been the story. this is been the rebirth effectively of the japanese yield curve. just before the end of june, since then we have been steepening and this has huge implications. it is a story for the ecb has well, but it is really interesting to see what will happen. the 21st turning out to be a massive day for market. let's talk about that a little bit more. john normand, jp morgan's head of fx and international rate strategy is sitting next to me. how significant is that? john: it is not only the steepness of the curve,