if you ask michael o'leary and stephen, they would say they want the transition period to go on for aey don't want it. if they play hard ball and say we are not talking to you, what will happen? i don't think we will be playing hard ball on aviation rights. we'll be begging them to let them fly into their air space? the same with trade. stephen said the economic case will be disastrous if we leave. that's not true. if we have tariffs and trade under world trade organisation terms, that will bring economic benefit of £12.7 billion. what happens on aviation rights? supposing they say we are waiting for a proper negotiation and we say no, we are leaving, what happens? there is no treaty governing... but that's not going to happen, is it? stephen is it going to happen, is it going to be said that you can't have nuclear materials and fly out of heathrow airport? i think it's actually slightly worse than the aviation market. everyone talks about the aviation market. i only found out recently that aviation safety is currently done by an eu agency which is covered by the ec], as they all are,

helen, what did michael o'leary have to say? s pretty colourful, time to do with reality, flights will stop after brexit. ryanair would shift their craft, we will have to holiday in scotland or ireland. you get the idea. the single market and aviation allows airlines to fly freely in europe. there is no fallback option so you need a new agreement. his view is this will not happen because of the red lines put around negotiations by the government and that is debatable. what is truth is airlines sell seats about one year in advance so you need to get a move on. what about other airlines? you say classic michael 0'leary, airlines sell seats about one you say classic michael 0'leary, busy flying solo? i have spoken to several industry types and they are overwhelmingly confident there will be a deal, willie walsh, the boss of the owner of british airways says he thought it would be relatively straightforward. the reasoning, governments on both sides and airlines on both sides want to deal, otherwise everybody loses, tourism, trade and

the question was often, if you ask people like michael o'leary, there are no planes i can buy at a cutthroat that has changed. these planes are becoming available now. i think in the next two or three years, we will see the likes of easyjet look at that and maybe we will see them move into that part of the world. they have moved to tel aviv, moscow, but ultra long-haul will become a component of that business. guy: thank you very much indeed. on the latest spreading easyjet and i tv. if you are a bloomberg customer, you can watch this show using tv . you can watch the video screen, you get to also use this sidebar here. with breaking news, all the latest market information. and also you get bios on the guests we are talking to. you can also ask the guests a question. and you up a channel can get involved in the conversation as well. useful optionality on your bloomberg. the dollar is in the doldrums after disappointing. does it have further to fall or is market positioning starting to get extreme on the downside? we check it numbers on friday. analysis is next. this is bloomberg. ♪ guy:

coming up joining me on thepanel is senior markets commentator michael santoli and dani is hughes, ceo at divine asset management and kevin o'learyinvestment. let's start with some of the market behavior we saw broadly it was interesting in the only did you have the indices all over the place the dollar was up and oil up do i even mention bitcoin. that was up, too what do you make of it all >> when it comes to the dollar and treasury yields they bounced very, very mildly from, you know, the declines we saw last week, and i feel like that kind of set everything else into a bit of a holding pattern banks were up most of the day and everything else was more soft look, holding within a couple of points of all-time highs is sort of an achievement, and i think it's as matter of can earnings justify where this market got to good earnings are a prerequisite for the s&p at this level. it's not to me in themselves a catalyst to shoot you have higher. >> and the earning suggestions, they are talking about big increases. next year helped by the dollar which has recently been weakening. it's $124 and 135 next year and we've been flat at 118 f