joining us is nandini ramakrishnan, global market strategist atjp morgan asset management.e markets were concerned, what will they do and when and by how much? it's a huge day because usually central banks have the interest rate they can play around with, but here we have the fed reducing the balance sheet and all the assets they have got and bought up the assets they have got and bought up over many years, letting those go back into the market, could have an impact on the treasury is, the us government bonds and how those different maturities will perform. there were some out there who were really concerned about the impact this would have when it does start and if it's going to be managed well 01’ and if it's going to be managed well or not, but most people we speak to who work in the city of london or on wall street are not too concerned about how it's being done. wall street are not too concerned about how it's being donelj wall street are not too concerned about how it's being done. i would not say we are too concerned but we are watching it closely because it could ha

nandini ramakrishnan and steven barrow, what worries you most?e for the market? nandini: i think increased political risk distracts from the fundamentals. for just a month of september, there are central meetings, german elections, trusting the alls, those do not look to be way from the market friendly reaction. we are not too stressed about september and are monitoring global developments that distract. monthseptember is a cruel for u.s. equities, an average .oss of .7% your outlook for european equities is positive for the next six to nine months. nandini: earnings expectations have been increasing over the year for the first time versus the past several years, for analyzing companies in the stoxx 600. you also see the technical argument, 60 billion worth of euros went out of european equities in 2016, 20 billion come back in and the 40 billion that remain on the sidelines, as we get past a few more months of positive pmi and macro data, you can put your money back in, especially if you are a u.s. investor where the equities are more expensive.

let‘s get detailed analysis of that from our business guest, nandini ramakrishnan.goals is to get inflation to be around 2%, but what you have here in our current times is the brexit issue, the negotiations. what does that mean for the uk‘s economy? what parts will survive and have access to easy credit is more of a focus for the bank of england. we don‘t expect the bank of england to raise interest rates this year and it would be a tough sell for them to raise interest rates for the first pa rt raise interest rates for the first part of next year where you do have real wages in the uk slipping, construction data weaker. a lot of wea ker construction data weaker. a lot of weaker points that lead to us thinking that the bank of england will remain as accommodative as they can. you don't see interest rates being raised this year. you mentioned weaker construction data as did i. construction important here in the uk? it accounts for 6% of our economy. that data that we had out today showing that it‘s wea ker had out today showing that it‘s weaker than had been expected