it made the call after moody's put the de on review.ave the country short of two investment ratings. arab petroleum investment core plans to raise $1 billion. the offering would be a five-year, $2 billion program which the company started last year. treasuriesst 25 year since they started trading in october. apicorp is waiting for the right moment for the sale. check out the egyptian -- a record low, extending losses. .75.pound slumped to 11 that is a 32% premium over the official exchange rate and the widest gap since bloomberg tracked the data in 2013. yousef: in other news, the imf says the brexit vote was a factor in its decision to cut its global growth forecast. we have the deputy director at the imf. we asked him why the organization only cut its forecast 1/10 of a percentage point given the impact of brexit. >> there is a lot of uncertainty out there, but the financial market reaction so far has been quite contained. given the quite contained financial market reaction, we have a relatively benign outlook ahead with a gradual red

anna: the movie lose -- moody b lues. yousef, thank you. return to international debt for the first time since 2002. we spoke to the economy minister, whose ministry is at the forefront of securing the access to the global financial system. now, the groundwork for issuing bonds in various iranian debt securities in the international markets exist. and i'm certain the situation will also improve in the future. we have certain like billions of dollars with agreements with different countries for financing iranian projects. manus: the u.s. t secretary of stae john kerry said it would be a deal with britain. despite the special relationship, which both he and the foreign secretary boris johnson say remain strong. secretary kerry: i think it is clear that no previous administrations, in either of our countries, is going to alter or undermined the bonds that we have. boris: the special relationship between the united states and the united kingdom remain strong and vital. and we continue to advance new mutual interests, and tackle shared challenge

moody's is reviewing their l ending rate.-- global news 24 hours a day, powered by 2600 journalists in more than 120 countries around the world. this is bloomberg. guy? guy: it certainly is. darbyshire, still with us on set. are you worried that the brexit story is going to be a little negative? for you a little bit late to that trade? chris: yes, we have held onto this for several years. we felt the earnings' underperformance and the stock market underperformance would revive overtime. had atential impact slight knock on effect in put s us over the edge. so, we have gone for the u.s. caroline: what about the rest of chris?., where do you put yourselves when it comes to the eu and the rest of the eurozone, in terms of investment? chris: i think we like the eurozone. that -- the domestic economy is not broken there. you can look at good growth in germany with good consumption everywhere and employment trends are good. it just seems to be that the european large cap is the problem. there is regulatory pressure in sectorsvarious

moody's has put turkey on review for a downgrade. can the country hold onto any investment-grade ratings? >> right, it has two investment-grade ratings. if moody's does decide to put turkey there, that will have an impact on foreign investment in turkey, which is the big question. foreign investment has been improving for the first five months. it was negative in the first five months of last year and was positive this year. junk downward rating to would really be there a damaging to turkey's prospects, which were looking up earlier this year. manus: riad, thank you very much. riad hamade there, the middle manager.t the world is doing more and more with political spikes, moments of real tension. that makes central banks' jobs so much hard or, given everything we are looking at. in terms of central-bank policy, are we going into another wave of cuts and stimulus? >> i think it would be unwise to do so, but i would not rule it out because of a moment, there are limited options on the table for many heavily indebted foreign government,

moody's? hang the presidency on moody's one -- >> when the bernie voters told us that, wall street is not mainstream. >> we've got to go. >>> coming up, want to put isis down? donald trump says we should partner up with putin. is he right or wrong? >> wouldn't it be nice if we got along with russia in i'm all >>> there's nothing i can think of that i'd rather dothan have russia friendly as opposed to the way they are rights now so that we can go and knock out isis together with other people and with other countries. >> donald trump taking some heat as he turns his focus to the re-election. the general election, i should say, for saying we should team up with russia to defeat isis. this is around the world is intensifying. with just witnessed the brutal beheading of a priest in france this week and the group isis is calling for more bloodshed. lisa, should we partner up with putin to bring down isis? >> we do need a stronger coalition because that's lacking. i'm not sure what the resolve of rus

moody's? hang the presidency on moody's one -- >> when the bernie voters told us that, wall street is not mainstream. >> we've got to go. >>> coming up, want to put isis down? donald trump says we should partner up with putin. is he right or wrong? >> wouldn't it be nice if we got along with russia in i'm all welcome to the world 2116, you can fly across town in minutes or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪ your but, during the day, fine when yothey can move!em on. in the morning... noon... evening... enough is enough! it's time to use fixodent plus adhesives. with just one application... ...they give you superior hold, even at the end of the day. so you can keep enjoying your evenings. fixodent. strong more like natural teeth. fixode

we are also waiting for moody's about the credit rating of turkey.ould this bring on more restrictive measures from the turkish government? capital controls? >> it is too early to speak of capital controls frankly. know, having capital controls in turkey will solve nothing. it will just make things more complicated. there is no economic rationale if you will. there are a number of things you can do before that. central bank could intervene. we don't have a lot of reserves other are some. you could use interest rate policy. continuenment could singing the right song. these things are going to be tried first. before we entertain the other idea. turkey has had an open capital account since 1989 or 1990. we have never had this. it would be a lot of resistance that. we're not there yet. it makes you think about these kind of issues. angie: what you make of moody's decision to put turkey on the watchlist? >> it was a bit of a rash decision frankly. let's wait and see how things unfold. i can understand from their perspective that they are guarding their ow

moody's has called this short-lived political uncertainty.ch is saying the credit profile is still consistent with triple-a. this apical deadlock leads to sustained widening of the desolate -- deficit would put downward pressure on the rating. that is probably what will happen. the cross bench is a collection of very colorful characters. certain budget deficits will continue to widen, there will be policy gridlock. there will not be a lot of economic reforms. these downward pressures could manifest. angie: thank you. yousef: the view the chinese banking system will need a government bailout is going mainstream. we are live in beijing, next. this is bloomberg. ♪ get ready for the rio olympic games by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. angie: it is 1:30 in tokyo. t

kate moody is with me here on the set. first of all, tell us what a state of emergency actually means. what difference does it make to the way we live our lives in france? gives the french government more extraordinary powers to ensure security. some of the measures include calling for tighter border controls around the country, higher security at airports and train stations, bus stations. french authorities under a state of emergency are allowed to search homes any time of day or night with or without a search warrant. there is a lot more leeway as to when they choose to place people under house arrest if they think that is necessary. bandse of emergency protests against the labor reforms. the last time france had a state of emergency on the mainland was back in the 1960's. when it was announced after november 13, the attacks, the state of emergency came in addition to the so-called -- and acted after charlie hebdo in january. additionalter 10,000 police and armed guards crossed the streets of france, at sensitive sites l

moody's had lowered the outlook on turkey to stable back in 2014. s&p a competitor to moody's said it will assess the implications of the coup in a few days. >>> coming up, could russia be banned from the ray oio games? here's toolday's national forecast. >>> good morning. let's take a look at the forecast. a lot of sunshine. this is going be the dominating feature for you. atlanta possibly some thunderstorms, 93 degrees. miami sea breeze with storms along alligator alley. out west a little bit cooler and still the sunshine big time feature for you in los angeles. 18 degrees by big bear. 82 by the staples center. we're going to have this heat continue for the next couple of days. folks, hydration is going to be the key. we have more coming up after the break. more on "world wide exchange." josh, don't you have friends coming over? yeah, so? it stinks in here. you've got to wash this whole room are you kidding? wash it? let's wash it with febreze. for all the things you can't wash, use febreze... ...fabric refresher whoa hey mrs. walker inhales hey,

it's not her saying it's moody's commits who are saying this. >> this is moody's analytic, at the sameman who runs it mark zandy, he gave the maximum amount to the clinton campaign. just a note there. >> he was also an adviser to mccain, though, too. >> i want you to listen to this as well. this is what donald trump said to george stephanopoulus this morning speaking specifically about khazr khan's wife and why she stood silently on stage. >> his wife stood by his side but she had nothing to say. i don't know why, you tell me, but plenty have written that. >> he was talking about the wife of khazr khan, and he was referring to the fact that muslim women are told they are to be quiet. >> i'm not in the head of mr. trump. >> you're a surrogate for the campaign. >> he was making an observation, if you look at the speech at the dnc, mr. khan was on the attack, full bore against mr. trump, pulling out the pocket constitution, again, unfortunately, we again as i said earlier, we are all in awe of the sacrifice that captain khan and his parents have made, but that should not be politicized an

turkey --wngraded take a look inside my terminal, you will see when moody's upgraded turkey, they wereer that is a comment on sovereign ratings these days or just the turkish economy which plans on a lot of capital inflows. shery: we also have to talk yen. the end -- the downplaying the need for an intervention from the government as we see a stronger yen. he says the yen's moves have been orderly. take a look at this volatility see it is will soaring to the highest level since the global financial crisis in 2008. the yen also stronger today, reversing losses from the last session. we have seen a lot of movement with the yen post brexit, safe havens also gaining, including of helicopterlk money and bonds potentially sinking the yen. we have the g20 finance ministers and central bankers meeting in china this weekend. fx could be a big topic there. vonnie: it's difficult for -- the imf can talk about how it's good to have flexibility. situation.s a tricky vonnie: coming up in the next 20 minutes of "bloomberg markets," we are live at the republican national convention. the mayor joined b

people of moody i's investor service say ac need 740 million-dollar promised by state lawmakers lastay. it was part of the deal to help city get finances in order by a november deadline. moody's says a default could lead to bankruptcy. >>> and it looks like another giant jackpot is climbing the charts. >> no one matched last night's power ball drawing, so prize is up to 478 million-dollar for meisha and i to claim. here are numbers from last night in case you think you won smaller prize. the next drawing is saturday night, nearly three months have have passed without a winner of a big jackpot. >>> all right, katie, will we hit the jackpot with our weather today. >> no. >> man, why do we have to talk like that. i have to give you bad news. >> we are dealing with what looks like pretty heavy duty then are storms and sitting in a severe thunderstorm watch or slight risk for some severe wet's cross portions of our region. lets go outside and start things off, by taking you here , to the severe threat which is again slight, off to the south, we will talk more about that in a second here b

is we cannot give the all clear, even though the damage has happened quite a bit. >> we spoke to moody's this week on this program and they talked about one of the reasonings behind that change in the outlook was that they were concerned about investors turkey money out because relies on these foreign inflows for its current account deficit. you on the other hand say you are listening to what the rating agencies are saying. it seems a bit circular. we have important why to it at least in the short term, we have identified $7 billion to $8 billion that will move if the rating moves. are paying a little bit more attention than we should usually do. that is where the problem comes in. >> i want to turn your attention to the bank of japan. what do you make of what we heard today from kuroda? salman: the market overreacted to the helicopter comment. japan will have to do more easing in the form of monetary policy. japanese economy needs that. it is a coordination of fiscal policy that is needed. whether it happens in baby steps remains to be seen. the economy needs more stimulus and help. mr.

this is from moody's. , the u.k. real growth of 1.5% for this year, 1% for next year.athan saying he reckons we will avoid a recession here in the united kingdom. the u.k. economy will slow significantly in the near term. that is going to be one of the issues. they also say the u.k. retains some important strength. you got uncertainty in a post brexit world. 1.5% growth for this year. down to 1% for next year. the uk's credit, is under pressure following the issues with the eu. these are the very latest coming from the credit worthiness remaining under pressure, following the decision to go for brexit. trimming the growth forecast. so we will, of course, delve a little deeper as we get into that. jonathan bell is my guest host. he stays with me during the rest of this hour. saudi arabia, what are they doing with their bonds, u.s. treasuries? in may.on where alive. take a look at the kingdom's finances in a world of cheap oil. this is bloomberg. ♪ matt: saudi arabia -- u.s. treasuries, over $9 billion. joining us with the details with the chart of the era -- chart of th

moody's has said there are limited implications for australia's top grade. a wider deficit could put downward pressure. election results have yet to be completely finalize. an increasing number of economists predict chinese banks will see the government bailout within two years. standard chartered is among nine of 15 respondents in a survey to say they expect a move. the majority only the cost of recapitalization will exceed half $1 billion. chinese lender's are grappling with a growing mountain of bad debt after years of cheap credit. one of london's biggest law firms has threatened to take action if the british government tries to initiate the process of leaving the e.u. without consulting prominent. acting on behalf of an anonymous thep of clients, they said triggering of article 50 can only be started with parliament's consent. deadliest attack in the year has killed 100 and 15 people. a truck exploded in a shia neighborhood. has many clothing and jewelry stores, restaurant and cafÉs filled with the streets with people after they had broken ramadan fast.

the market is already implying moody's.y have actually gone, sorry, s&p i should say, cutting the rating to double b. two steps below investment grade. how low can she go? 21.85, all about the forwards and the implied price. anna: we could just mentioned some breaking news we have coming through. manufacturing and disturbing pharmaceuticals, and offers related services, m&a involving to buy $32 a share, thy doing the company, a little bit around the farm. let us get that breaking news for you. let us get the risk radar. where we have been on the various asset classes. manus has taken us through the lira story front and center. we have a lot of currency in here for you. we have the euro up today. but the yen and using the dollar down. and all of the currencies gradually undercut the last couple of weeks or so by stimulus. all hitting multi-week lows against the dollar. the contrast with the u.s., and their interest rate expectations around the u.s., back on the agenda. absolutely. now back at 47% in december, we will transla

by kate moody. signs ofwing concrete a slowdown. >> we are seeing the first hard data, now. business activity has dropped at its fastest pace since the financial crisis. the survey cited a decline in output and order, describing the slump as a deterioration since the decision to leave the eu the report could increase pressure on the bank of england to deliver fresh monetary stimulus. -- may reset britain's economic policy when he revealed a new budget. markets are mixed about midway through friday's session. positiveresisting in territory. 1.5town has dropped about cents. -- the pound has dropped about 1.5 cents. donald trump has accepted the nomination to run for president and his bowing to hit the reset america's trade relations. we take a closer look. i am going to make our country rich again. >> donald trump believes thousands of factories have been moved abroad. >> i have a different vision for our workers. it begins with a new fair trade policy that protects our jobs .nd stands up to countries >> it has focused on two countries, china and mexico. he says as a result of

is triple a the highest in the rating and at the bottom is a minus grade and as you can see here we moody has firmed our double rating and updated our double a minus so we have our split ratings the s&p 500 is higher that's not uncommon they're more conservative the citing they cited a number of upgrading for the wastewater culprits within the continues long term financial plan improvements rate setting policy owe the demonstrated track record for the enterprise the first you got in the sfpuc and depending on kr9 supply it saves you, we estimate we saved 5 base points that is one million dollars for other 3 beyond any doubt of one hundred million dollars issue not a significant savings so we entered the market with good credit ratings and a favorable market this the triple market 20-year rate this is the index of long term municipal rates we have the next graph over 1996 and 2016 and this is the equivalent of the same thing the treasurer bond for the security and you prices other securities of 0 of that that the index of the community bopped if you have a lower than a triple organization

. >>> more stocks to watch, moody's is changesing outlook on microsoft.oody's says the change reflects the nature of the deal even though the transaction could be beneficial to microsoft cloud business. no move in stock price this morning. >>> lux cot ka is cutti inting outlook. reportedi inin inin ining a dro >> caterpillar says global retail machinery fell 12% in the quarter. slow down in construction and mining. caterpillar reports full second quarter results before the opening bell today. down about half a percent. doug onner held man will be on "squawk box." >> time for top trending to ini stories. a devoted sanders supporters, spoke alongside clinton supporters, senator all franken to tried to build the unity. after announcing her support fwr clinton, dnc crowd booed her then she had a strong message for the bernie or bust crowd. >> unity. unity. can i just say to the bebernie t people, you're being ridiculous. >> it's a strong message. strong message. given she was such a big bernie supporters. >> amazing to still see the booing. good to see how mu

moody's has said there are limited implications.y's election results have yet to be completely finalized. tempting resumes on tuesday. an increasing number of economists predict chinese banks will receive a government bailout within two years. commonwealth bank of australia 19 respondents to the bloomberg survey. recapitalization will receive half $1 billion. chinese investors are grappling with a growing amount of debt. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. you can find more stories on the bloomberg at top . guy: going back to the italian banking story. an italian official is denying mr. renzi's challenge. do you believe that? >> absolutely not. mr. renzi recognizes the gravity of the situation. and il continue to argue am confident he will return to the eu challenge again. europe obviously has attention and a conflict of interest but mr. renzi must ultimately do what is right for the italian people. guy: a silver lining to the brexit story. investors seek hav

businesstest headlines, kate moody is here. we given with a late round of troubles for google. a fresh round of antitrust charges against the internet giant. that is the third time that is happening, these related to ads and online shopping business and the latest charges accuse them of hindering competition by hindering the ability of its rivals to put sad -- put search ads on third-party websites. google could face fines of up to 10% of its global annual revenues it is ultimately found to have broken the eu's competition rules. to grappleials try with the economic consequences of the brexit. >> from the bank of england, which decided not to cut interest rates, that would have been the first time in seven years that they have gone ahead with what market analysts have been expecting. they have been expecting the central bank to take action and protect the economy from the so-called brexit effect. it would keep rates at already record lows of .5%. the bank of england could change its tune later this summer and released billions of pounds into the economy if necessary. policymake

moody's warned that the city would default on debt payment coming monday if the loan didn't go throughhen. atlantic city is facing a november deadline to get its finances in order. if that does not happen, the state will take control. >>> u.s. stocks had a meager gain yesterday. futures are pointing to a lower open. >> the father of a muslim soldier killed in iraq takes direct aim at donald trump at the dnc. >> we'll have a live report from matt o'donnell who is live at the convention floor, that's coming up at 5:00 a.m. ♪ yes you know who that is, right? katie perry performed at the dnc telling her young fans to get out and vote. she has been campaigning with clinton clinton since the iowa caucus. >>> several political first things took to the stage the final night. mayor nutter called hillary clinton a leader who gets stuff done. katie ma -- mcginty was the first of two state candidates to get a high profile spot. tom wolf spoke and did his part to sell the democratic nominee. >>> one of the themes for the dnc was inclusive america. it included a father of a muslim soldier killed in

made worse by the fact that moody's is looking at its ratings.unk.dy cuts, it will be barclays issued a report that says outflows, if there is a cut, could be more than $3 billion. caroline: just on the cusp already we will see how that pans out. give us a sense of anyone's promises -- everyone's thomas is -- erdogan's promises. riad: the wave -- the figures we saw last night was 7500 arrests. 13,000 tohat number 14,000 people being suspended or fired from their positions. government officials, military, judicially, interior, police, finance ministry. yes, there is a massive purge going on. whatuestion really is, so form of government will be seen next? erdogan has wanted a more presidential system where he would hold the greater power than he has now. traditionally it is a ceremonial post. he is very much trying to reshape the way the turkish political system works. guy: riad hamade, great stuff. thank you very much. stephen king still with us and we talked about the fact that the u.k. has a deficit problem. he has a massive one. we got politica

business, and i am joined by kate moody. thating with the news there may finally be a buyer. kate: the telecom giant verizon is going to buy the core internet business of yahoo!, a $5 billion deal. verizon also bought aol last year. the idea is going to be to merge yahoo! and aol to complete -- to create a viable competitor to google and facebook in the digital advertising market, throwing on its own position as a mobile operator. yahoo! shares are going to be halted as wall street opens in a few hours' time. the deal does not include .ahoo!'s stake in alibaba the deal is expected to bring in end to marissa mayer's four-year tenure. claire: how are the markets faring this monday? midway through the session, we're seeing the dax leading gains up to 1%. the swedish telecom's equipment maker ericsson is seeing shares up 2% this hour as its chief executive announced his resignation. --nair is also among the big big companies in the sector. we will see if they announce a change in monetary policy or follow their lead of the bank of england or european central bank, deciding not to

. >>> some wall street investors are betting against atlantic city, moody's says the city will likely default on a debt payment on monday unless the state comes through with a $74 million loan. they are facing the deadline to get the finances in order if that doesn't happen the state is poised to take control. >>> police are looking for the person that murdered a man two blocks from his house in philadelphia. police found the man dead underneath a pickup truck in tioga-nicetown. they believe he tried to run and hide from his attacker, they are checking cameras for any helpful video. >>> we are learning new information about a man killed in a robbery and carjacking in german town last night. two men approached the victim and stole his dodge ram pickup truck. the police have video of the robbery and carjacking and they are still looking for the suspects and stolen vehicle. >>> in delaware wind, a neighborhood gas leak forced people out of their homes and businesses, this happened along the 300 block of clifton heights, a contractor doing paving on the street struck a high pressure gas l

moody says the brexit may be a shock to confidence. it may curve -- it may curb economic growth.s an uncertain future outside of the eu. it may dampen investment. --hing terribly pathetic terribly prophetic in those words from moody's, but it adds to the tale of woe that many people are bringing in terms of the reality of life outside of the eu. it is jobs day in the usa. we had the weakest job growth and more than five years, that was last month. investors are waiting to see whether it is a trend or an anomaly. the real question is how important the number is. that is data dependent. ian, thank you for staying with me. i asked jeffrey what we need in terms of a number to keep rate .ikes alive he suggested something in excess of 2000 good what is it take for jpmorgan asset management? iain: i am not sure there's any number. outside a complete ethics 300 plus number. the fed is going to have to look at what the economy is doing and what the fallout from brexit is going to be before he can make a decision. what will be interesting is if you get that number, what will you bring to e

moody's invest's service said the resort town will likely default on a debt payment on monday if thetate does is not act. the firm says a default would most likely cause atlantic city to file for bankruptcy. the state has promised the loan as part of the agreement but would allow ac to get its finances in order by november. if that doesn't happen, the state will take control. >>> happening today, you can get a closer look at septa's new bus. there it is there. in south philadelphia, today, the transit agency is inviting commuters and others to see a demonstration of the bus. the buses will be part of septa's fleet next year. >>> also today, nearly 50 students will show off their summer reading skills in camden. the grade school kids are participating in the cooper learning center after wall summer program. it's free and helps them keep up with academics during the summer months. >> the harlem globetrotters are in the middle of a four-day stay where they're playing four games at the wildwood convention center. but before the games globetrotters shot a basket in the basket below as he

moody's investor service said the resort town will likely default in the state does not act. state has promised a $74 million loan as part of an a agreement that would allow the town to get its finances in order by november. but if that doesn't happen, the state will seize control. >>> happening today, you can get a closer look at this, septa's new emission-free electric bus. septa purchased more than two dozen for south philadelphia. today, the transit agency has invited commuters and other visitors to see a demonstration of the bus at 12th and market street. the bus will be part of septa's fleet next year. >>> also today, nearly 50 students will show off their summer reading skills in camden. the grade school kids are participating in the cooper learning center annual reading program. the program is free and helps kids keep up with their academies during the summer months. >>> also new this morning, we're in for a couple more days of powerball pandemonium. no one won the $422 million jackpot. but now the prize rolled over to $478 million for saturday night's drive. be sure

sot n6p oldest park ranger attacked kenneth moody, vecino quien sea que hizo esto sabia algo...nian que saber algo.. que ? no lo se... vo aunque algunos de los articulos que le robaron podrian ser considerados irremplazables uno de ellos volvera a sus manos... el jefe de soskin informo que recibio un correo de parte de la secretaria del interior para avisarle que el presidente barack obama reemplazara la moneda que le robaron.... sandra si usted tiene cualquier tipo de informacion que puede dar con el paradero de quien ataco a la mujer, por favor llame a la policia de richmond... vo cesar --una persona que fue herida en una balacera el martes en san jos, muri hoy en el hospital. --el incidente ocurrio en el centro de esa ciudad entre las calles 11 sur y san antonio este. --las autoridades solicitan la ayuda de la comunidad para identificar a los sospechosos del crimen. --este es el homicidio numero 25 en lo que va del aÑo en san jos. vo lorena --la policia de san leandro indentific a gabriel martinez, como el cuarto sospechoso del asesinato de dariel arreola, ocurrido el 15 de m

turkish debtof rose for a third day and bonds fell after moody's investment signaled it was signalingting a credit rate to junk. and also lower borrowing costs. falling 2%.ng it the university faculty across the country would resign. it is broadening, and that followed friday night. the currency extending declines on that. director, thank you for joining us. cuttingsideration about turkey's credit rating, is that more about politics or fundamentals? >> there are two elements. one is political risk, which has present in turkey for some time. theust a manifestation of very shifting type of political landscape we have. that has implications on growth potential and on the advancements and lack of. and potential external shocks. >> what do you make of the bank 's's decision to slow rate cuts? does that have an impact on your decision? they have to react quickly. two of the the news today -- to absorb the news today or yesterday, they made an announcement over the weekend --ut the banking system >> we have seen the lira decline versus the dollar. gradehave an investment rating. to place thi

moody's has said there are limited implications for us to's top grade. ch ratings said that a wider deficit could put downward pressure. election results have yet to be finalized. global news powered by 2600 journalists and analysts in 120 countries. this is bloomberg. anna: let's have a look at the data. let show you where some key assets are trading this morning. this is, we will start with energy markets. they half a percent on price of a barrel of brent crude. nigeria getting a handle on the violence and getting parties to stick to a cease-fire in the south of the country. that is having an impact on global equities in asia. a word on silver up by 1.9%. 0.7509.ie dollar an inconclusive result of the election. and dollar-yen. i've got a chart that puts more detail. the brexit vote being marked by that red line. bb, perhaps we will refer to that period as before brexit. we've seen a strong move higher in the price of silver to $21 an ounce. and this is the gold price. precious metals very much the rage. in the wake of that result. more on the precious

vonnie: how does a body like moody's assess puerto rico and its view forward?estors might not be as interested. tim: sure. we view this legislation is positive. it will avoid protracted and chaotic litigation and move government beginning work to restore the economy. key toc growth is the quality of life in puerto rico. vonnie: does not assume that they wer there is not political? bills not the most popular , even in puerto rico. view the bill as positive. payments. debt it lays the groundwork for improved confidence and economic growth. vonnie: do you see a change in rating anytime soon? on "bloomberg markets." mark: a new president takes over in the philippines. why's it making some people nervous? this is bloomberg. ♪ mark: you are watching bloomberg television. vonnie: here is what we are watching. one and done for the fed on rate hikes. goldman sachs reportedly cutting jobs. which employees are being let go. and the philippines, the hopes and fears the new president brings to office. james bullard says that for now he is sticking with his call on rate incr

moody's lowered its forecast and the turkish president promised a new turkey. the u.s.are asking him not to use it as an excuse for an authoritarian crackdown. joining us is the ceo of greylock capital. thank you for joining us. we saw the lira gets matched get -- get smashed. what do is thence like this for tell for investors in turkey going forward. my whole pitch was turkey's investment grade country does not make any sense. there have been a lot of in turkey and whether it weren't did probably since the beginning of the year, certainly you had to figure the economic policies of the country are going to take a backseat to the president establishing political control. makes -- takes a hit. most of the corporate's are 40 or 60 basis points and i think you'll see more of that. are an investor and held positions in turkish debt, do you get out of that or do you hold your position based on whatever the fundamental reason why do and when you got into those assets? guest: it probably depends on what strategy you are taking. anyone who is a short-term trader should get out o

pressure, a strong singapore dollar weighing on interbank rates come a not surprising given what moody'sd last month, down the outlook for lenders in june. it is concerned about weak economies, weaker trade growth. ofo, the worsening quality loans, especially to energy companies. singapore banks are heavily exposed to energy-related companies. uobng said that, we saw beating estimates. second-quarter income rose 5%. it said it will stay vigilant, nimble, and is setting its sights on the region's long-term prospects. rishaad: another singaporean also out with a report. what is going on there? >> it is singapore's sovereign wealth fund. returns are down 4% in the 20 year. to march. a year ago it was 4.9%. gic returns have been under pressure. the pain is likely not over. thesame warning sounded by singapore state owned investment company. low yields, stagnant global growth, inflated by a wish and's, so returns expected to be muted for as long as 10 years. here is how it looks in terms of holdings at gic, a third of assets in the u.s., 20% and japan and the rest in the eurozone. rishaad: th

this is moody's when they upgraded the country. the 23rd. from vasileios gkionakis.is with me now. , outflows, and credibility. you are quite bearish. vasileios: i am quite bearish. that is largely because it is not just the usual health story about you need flows to maintain that big of a current account deficit. it is also the fact that right now we have the consolidation of powers as far as. a gun is concerned -- is fares -- as far as erdogan is concerned. from that perspective, you've got to do much a perfect storm. you've got inflows stopping or reversing. at the same time, you have the losing itsk credibility quite fast. ,anus: the political situation warning shots coming from the united states in terms of what they don't want to see from a nato member. this is the biggest challenge overall is the politics that will dominate the flows. you saw net inflows until this time yesterday. that is what is going to drive this. vasileios: i think that is right. the question is, however, overall, you will have general quite good environment for emerging markets on the who

we simplified it ended these moody photos on black.nsort of edited the story time to get it out this week. we knew that we wanted to do a more straighter treatment. carol: when the first of the coverlet didn't immediately know what it was. it speaks to the unfamiliarity of these body camera which are becoming more popular. as an object it is still something new. robert: definitely. it is nice to introduce people to what this thing actually looks like. than theut 300% bigger actual scale. the headline is purpose the what up next to the lens. you know exactly how the device is laid out. carol: i feel like there is texture to the cover here. robert: it is the nature of the device. it is a sort of zoomed in photo. it is not incredibly detailed but you get a lot of extra on it. carol: thank you come up next mark zuckerberg grapples with the unprecedented inquiry of facebook live. david: the nfl hunts for a new breed of athlete. ♪ welcome back to bloomberg businessweek. you can find us on radio and york and.m. in new boston. 960 in the bay a

. >> delores moody. >> she played a bad mom in several movies in the 80s.in? >> c. >> c, "16 candles," yes! >> tell bus her. >> c, correct. she truly terrified her 10-year-old co-star by growling, put that kid's hand in the blender and hit puree. and he was danny devito's mom in "throw mama from the train." >> okay, hoda woman. >> what's your name, you bad mom you? >> stacy eubanks from silver hill, alabama. >> come on, stacy. in the movie "wedding crashers," jane seymour plays a naughty mom. what does she ask owen williams' character to call her while she's seducing him? kitty cat, baby or sweetie? >> c. >> no, the answer is kitty cat. >> hoda does that very, very well. >> yes, she played a cougar in this movie and has admitted to being a real life cougar herself, someone 15 years younger. >> i think we're out of time. thank you very much, sweetie. thank you, hoda, come on out. >> and what those expiration dates really mean. a man w this is mister kitty. mom doesn't know we have him. it's something about "responsibility." i made you-know-who promise not to

this news coming after moody's said earlier this week that the for ay was being reviewed possible downgradenk status. fast-moving here with the lira weakening 6% versus the dollar. we are joined by our bloomberg managing editor for the middle east and africa. on the the latest political developments. the latest is a turkish president has been meeting with his national security council and some top members of his cabinet. ended that meeting and they will make a recommendation that goes to the cabinet that is due to start meeting soon. , they will make an announcement about what measures they are going to take. vonnie: what kind of announcement are people anticipating? guest: we are not certain. we have comments by some officials -- one of them saying one thing being considered as declaring a state of emergency. another official said there would be measures to make the prosecution easier of some of the people being accused of coup. part of the there are some serious measures on the table being discussed by the cabinet. if we get the most serious measures, what would this mean looking at the b

. >>> and moody's has downgraded a bank's ratings due to an increasing likelihood of state intervention. shares at the italian bank have fallen to 4%. down 35% in the last 30 days. we have the take a quick break. but take a look. keeping abreast of all the top stories. stay with us. we're back in just a few minutes. they told me a bottle couldn't dream. that i would never become a superhero. [singing indistinctly] but i learned how to fly. just to come back in a new disguise, and be the hero i've always wanted to be. and i'm julia chairsly. there was a failed coup over the weekend. secretary of state john kerry rejects the idea of u.s. involvement in the turkey coup saying the accusations are irresponse. >>> president obama condemns the killings of three police officers in louisiana, calling for a measured response ahead of the party conventions. >> we don't need inflammatory rhettry. we don't need careless accusations thrown around to score political points or to advance an agenda. we need to temper our words and open our hearts, all of us. >>> welcome back to the show. let you give yo

moody's signaled it was considering cutting the country's credit rating. watching the lira fall more than 2% the most among emerging markets worldwide. this consideration about cutting turkey's credit rating, is that based more on politics or s?onomic fundamentals that g two elements. one is political risk which has been present in turkey for some time. happened over the last few days is just a manifestation of the very shifting type of political landscape we have. that has implications on growth potential. it has implications on the advancements or lack of economic reform and also exposes the countries to potential external shock. >> what do you make of the central bank's decision to slow the pace of rate cuts? >> as any central bank in the face of very turbulent episodes they have to react quickly. marketsg that helps the to absorb the news today and yesterday is the fact that they have made some announcement over , liquidity in the banking system to make sure -- >> i would like to ask you about turkey and what it has done to stabilize matters after the

moody's said the carrier risks having its credit rating cut should it fail to identify a path towardsreducing debt by the end of the year. just as we heard from david cameron, the prime minister, we will have a new prime minister by wednesday evening here in the u.k. this is what andrea letson dropped out of the race. it's been creeping higher ever since. you have a little bit of a burned there, it takes away uncertainty, vonnie. the uncertainty that would have been present through the next nine weeks, we were told there wouldn't be a leader in place until september 9. it takes away essentially nine weeks of uncertainty. vonnie: fascinating. it's definitely a female prime minister. let's check in on bloomberg first word news, corny collins has more. courtney: officially, bernie sanders is still running for president, but he appears to be on the verge of endorsing hillary clinton. tomorrow, sanders will campaign in new hampshire, with the likely democratic nominee. clinton's campaign has been present for an endorsement, and last week he signaled one was imminent. he says we have got to

. >> you upgrade now you can put whatever your moodies. say you want to send in a view it will bring in the one for that. >> send a picture of yourself saying i miss you. >> because my emoji is better looking then i am. >> yes. >> by the way. >> the people that use it, that cracks me up. >> yes. >> or gif, however you prefer to say that we have establish that in a previous show. >> that one show, gif. >> gif. >> proper is gif like peanut the better. >> we got that from the horse's mouth the guy that invented it. >> yes. >> dude who invented emojis orbit emoji is in his 60's. >> is he really. >> you would think it is a teenager or 20 something. >> he is in his 60es a. >> you seen a worst photo then me then that bus stop right there. >> for the love of god. >> did somebody -- did someone hire stevey wonder. >> you cannot complain bit. >> that is worst picture of me ever you know what i'm talking about. >> i was with a good friend yesterday walking by this thing. really sweet. she goes, because she was like kissing me or something. there it i

. >> the measure of turkish debt risk rose and debt fell after moody's considered it was cutting thet rating to junk and the central bank lowered borrowing costs. we are watching the leader of -- the lira falling 2%, the most among emerging markets worldwide. this consideration of cutting turkey's credit rating, is that based more on politics or economic fundamentals? question. a very good i think there are two elements. one is political risk, which clearly has been present in turkey for some time. what happened over the last few days, that is the manifestation of the shifting type of political landscape that we have . that has implications on growth potential, implications on the or lack of, economic reform. and also expose countries to potential external shock. >> what do you make of the central bank's decision to slow the pace of rate cuts? does that have impact on your judgment? >> as any central bank in the ofe of turbulent -- turbulence, they have to react quickly. one thing that helped the todays to absorb the news and yesterday is the fact that they have made announcements ov

hillary clinton's campaign got a bit of a boost this week when an economist at moody's said a clintonide a major boost to the economy and create about 10 million jobs. cnn chief money correspondent christine romans takes a look at the strengths and the weaknesses of the so-called obama economy and what each candidate could do for the economy. >> hi, poppy. hillary clinton has a fine line to walk when it comes to the economy. celebrate the recovery but acknowledge not everyone feels it, and lay out a strategy to fix weaknesses. here's what the obama economy looks like. first, the strengths. stocks are up 178% since obama took office in 2009. stocks near record highs here. 9.8 million net new jobs have been added in the recovery. unemployment is 4.9%. that's cut in half from the peak of 10%. home values in most areas now are above the pre-crash highs, poppy. the average price nationwide now $231,000. but here are the weaknesses. the average u.s. household makes about $54,000 a year. that's almost exactly the amount they were making 20 years ago adjusted for inflation. debt is also a big

if you look at objective folks who looked at it, like moody's analytics saying with donald trump's plan lose 3.5 million, he will add over $11 trillion to the deficit. they call it fantasy. on hillary clinton's side, she has very specific plans that she continues to roll out to make sure that people know she cares about those who are unemployed, but she can also point to this democratic president who came out to campaign for her today. the numbers are the numbers from the bureau of labor statistics, that unemployment rate has been cut in half, 75 straight months of job creation, six years of job creation, you cannot deny that. >> i have to you have respond to that. >> i would say the only job hillary knows how to create is getting lawyers employed. at the end of the day she's never created any jobs. donald trump has created jobs, he knows how to create jobs. >> in mexico, in china, in india, where he has employed people. what about in the u.s. other than declaring bankruptcy for those casinos? he's talking about outsourcing and trade today but he's the outsourcer in chief. >> you don't