nejra: absolutely.re was a story on the bloomberg talking about how more broadly, france's heavy corporate hand has foreign partners chafing. thank you so much, both of you. italy, whereto tensions in the populist coalition are fueling speculation about an early election. the alliance is being tested by the five-star movement's slide in polls. >> our goal is to reach the end of the legislature. the government will last five years. it is part of the government's contract to last five years, keeping the full dialogue with the european institutions in order to spur italian economic italy becomend see europe's first manufacturing force. we're asking the question on mliv, will the u.s. or italy have higher 10 year yields by the end of march? join the debate, reach out to us and the mliv team on your bloomberg. is still with us. john: in our opinion, 10 year yields in the u.s. are going to continue to be very stable. the question becomes where do italian yields go? we think yields in europe head higher in due

nejra: if the u.s.ses cars to negotiate a broader deal, what sectors what they want to gain access out of the eu? >> this is no secret. president trump said many times he does think the u.s. gets a bad deal from the eu and he does like to go into negotiations. we saw that in mexico, canada, now with china. one of the areas the americans have really liked to get into is agriculture, but that is a redline for the eu. they would have to change european standards. farming is already a very competitive and crowded trade in the eu. this is one area where the eu is just not willing to play ball. the one glimmer of hope if any for the europeans is obviously trump is locked in negotiations with china. he would want to avoid a war on two fronts. nejra: thank you so much. maria tadeo in brussels. joining us now, head of rate strategy at -- international. the u.s.-china discussion still ongoing. you can see equity markets still in a holding pattern. the real question is over where we go from here. is the going to b

nejra: this is bloomberg. ♪ nejra: this is "bloomberg best." i am nejra cehic.et's continue our global tour of the week's top stories. at a meeting of the opec, the oil-producing , the group said b supply curves are in place, but there's strain between the most powerful members. yousef: saudi arabia's minister said opec and its allies say there's much work ahead to balance the global markets. who is the most important voice to listen to at these meetings? is it the saudi oil minister or mr. novak from russia? >> it's increasingly looking like the ruckses are the ones are the ones that are setting the agenda. they were talking about they have so much more to do in terms of cuts. inventories are building in the u.s. they are surprised about the shale jut put and these cuts need to come. he did say we have to make a decision coming up, it was clear he said there's more work to be done to clear this. while this russian oil minister, alexander novak, says we need to wait and see. today, they said we're going to scrap this april meeting and there's only going to be on

nejra: debra mao in hong kong.ing up, china's industrial profits see the biggest drop in a decade. concern over the global slowdown. we discuss that next. when you are traveling to work, tune into bloomberg radio live on your mobile device or on dab digital radio. ♪ nejra: this is "bloomberg daybreak: europe." we are asking the question. are yields low enough now to spur a rally in stoxx? mliv out to us and the team on your bloomberg. now let's get the bloomberg business flash. bank -- swedbank may have misled investors. that allegation comes from a swedish broadcaster. confidential documents it has obtained say more than 100 companies have done business with swedbank. a law firm tied to the panama papers allegations. the securities and agreed to pay whistleblowers $50 million. they provided information that helps the agency win an over $250 million settlement with j.p. morgan over claims the bank failed to inform wealthy clients of conflict of interest. a law firm that represents one of the whistleblowers disclose

nejra: interesting.rms of hollywood trade, then, would you do it directly through the lira or would you do -- in terms of how you would trade, would you do it or agree for the lira or do it through other options for examples such as the south african rand? piotr: i think that has been a popular trade this week, using it as a proxy for the lira, even that liquidity in the lira should improve gradually. i think those who are pessimistic and don't agree with the view that progress will be againstreforms will bet the lever is set of using proxies. nejra: thank you so much for joining us this morning, piotr rabobank.m kristof stays with us for the rest of the hour. if you are long tech stocks and high-yield bonds for the year, you will be feeling happy as the quarter comes to an end. we will tell you what is up, and what is down. that is next. this is bloomberg. ♪ ♪ sarah: this is bloomberg daybreak, i am nejra cehic in london. everything rallied in tandem following a cold december. the fed's a dovish payment

nejra? nejra: yvonne man in hong kong, thank you. recap some of the headlines from the top of the hour. deutsche bank pointing out somewhat weaker market conditions. it says it's working toward its return on tangible equity targets. it sees 2019 revenue slightly higher compared to 2018. it does also see 2019 litigation costs significantly up. andees 2019 civ corporate investment banking revenue slightly higher. it sees 2019 sales and trading revenue rising. these are lines coming through on this annual report that's hitting the tape. deutsche bank suggesting a dividend. let's get to our top story. eu leaders agreed to give theresa may two weeks to work out brexit. they told the prime minister if lawmakers don't endorse her deal, she will have until april 12 to decide whether to leave with no deal or request a much longer extension. >> the cliff edge date will be delayed. the u.k. government will still have a choice of a deal, no orl, a long extension, revoking article 50. >> i hope we can all agree we are now at the moment of decisio

nejra: good morning from bloomberg's european headquarters in london. i am nejra cehic. this is "bloomberg daybreak: europe." a weaker outlook could mean a softer rate path after the ecb slashed its growth outlook. growth concerns mean a bad day for asian equities. china is trying to slow its equity rally. trades exports slump has war uncertainty continues, but the ambassador to china is optimistic a deal can be done. >> significant progress has been made, and i am more hopeful than i have been in a long time. nejra: good morning. welcome to "bloomberg daybreak: europe." we are under two hours until cash trading in europe. risk of global growth, but do policymakers have the tools to deal with that? s&p futures coming under pressure. the 10 year yield after dropping five basis points, it continues lower. for a third day, down 0.4%. pauseerg dollar index on of the several days of strength. mario draghi with a new round downgrading glows and inflation forecasts, and says rates will stay on hold until the end of the year. the euro hit a 20 month low, holding there now. at on

nejra: absolutely. have geoffrey cox, the attorney general's recommendations on these new legal texts. walk us through the votes. what votes are going to happen and when? is there a prospect they could be rolled together and we see two votes today? rosalind: it is all very up in the air. one of the key things today is to hear the attorney general geoffrey cox's perspective, his legal opinion. he is expected to say this does mean the u.k. will not be wedded indefinitely to the eu. and his wordteer carries quite a bunch of weight with the other brexiteers. over voters but we are waiting to see what the plan is for the vote this evening, how many votes there will be. it won't start until 7:00 london time and could go for several hours. right now, the key question is on that particular vote on the deal, what is the margin by which theresa may is expected to still lose? nejra: thank you so much. , ourind mathieson executive editor for international government, joining us from the london set. strategist, equi

nejra: makes sense.d this week you plan to invest in your german parcel network, adding 1000 pickup stations. you are also hiring 5000 extra staff. how much is this all going to cost? less: so, you know, it's a cost investment and more a quality investment. we have seen some challenges last year with parts of our quality. we have seen already in the second half a significant improvement. we have seen tremendous growth. we still expect growth from 5%-70% on an annual basis -- 5%-7% on an annual basis. we invest in infrastructure like depots, outlets, and other kind of stuff. we are a premium provider in all what we are doing and we want to be the best in the industry with quality. i think we can do better. nejra: let me ask you about street scooter as well and the future of that. would you consider outright selling it? frank: so we are always open for that consideration. we are very happy. we have increased our sales last year externally. we are using more and more internally. we had a very successful win

nejra, good morning. nejra: yes, and outflows to contend with.risk offg a bit come through today, a big difference. taking a look at futures, we're seeing them on the back foot. yesterday, the s&p 500 did close higher by .3%. u.s.question whether exceptionalism is over, we have actually seen them underperformed the rest of the closedesterday, europe flat, you can see fairly firm to the downside. the cpi came in and the yield dropped below to 60. that is key for the markets as well. let's check in on markets in asia. futures anduropean u.s. futures, we are seeing asia lower today as well. we certainly are and we can see that reflected with money going into the yen. a real risk off day here. asia-pacific index down. closing out, weaker by 8/10. money coming out of the strong rally. that yen strength saw the nikkei weaker by 1%, also weak machinery orders coming through. australia's market hit by week data. but have a look at india, still holding very well after hitting a five-month high. can see momentum coming into indian assets as we await the el

nejra: good morning. nejra cehic alongside manus cranny in dubai. this is daybreak europe and these are the top stories. the yuan and global stocks advance ans the u.s. and china are said to near a trade deal. donald trump takes a swipe at jay powell overrate policy. he's simply talking down the dollar. >> we've got to ask ourselves why he's commenting on the dollar. he clearly wants it weaker. nejra: and refreshing the deal as to resume prepares to return her brexit plan to parliament, hardliners outlander conditions for support. ♪ -- outline their conditions for support. ♪ manus: welcome to daybreak europe. the yuan is rising. at what juncture does the rally pose a threat to the chinese economy? that's the question i have for our guest host. in the seeing a shift chinese aside, china ready to abolish case-by-case approvals in terms of foreign investment. yuan is rising. when does that become risk? it is barnstorming. now, volumes are also high. jpmorgan and goldman sachs make the case you want to buy more china, but you want to be overweight stock

nejra: thank you so much. --wouter sturkenboom will be continuing the conversation with us on bloomberg radio. saudi aramco sweeps for a majority stake in a local chemical giant. we discuss that next. i just mentioned radio. always tune into bloomberg radio live on your mobile device. this is bloomberg. nejra: this is "bloomberg daybreak: europe." let's get more on brexit. u.k. lawmakers rejected all eight options in a series of votes. speaking ahead of the annual conference of the british chamber of commerce, westminster cannot keep chasing rainbows. he said members are frustrated and angry over the brexit process. let's go left to westminster where we can speak to inspector general of the bcc. we looked to be facing stalemate again. how does business take this? >> good morning. this is enormously frustrating. it has been going around in circles the past three years. we are facing another deadline. businesses don't know what they are -- what they are trading conditions are going to be. it's hard to overestima

nejra: good morning from bloomberg's european headquarters in london, i'm nejra change. these are today's top stories. taxing slowdown. china announces a major tax cut. li keqiang warns of a tough battle ahead. at $9nese court set bond million. we are live in tokyo with the latest. the era of electrification. and some of the biggest brands live from the motor show. ♪ good morning, welcome to daybreak europe. a tokyo district court has chairmanformer nissan carlos ghosn's bail. he could be released today after more than 100 days in jail. manus: joining us now from tokyo is our asia conglomerates media editor. this is good news and a big ticket to pay for carlos ghosn for his release. >> it certainly is. that comes to about $9 million u.s. this was his third request for bail, first time it has been granted. prosecutors do have a chance to repeal this so it is not a done deal yet but it is getting close to that given the timing and mounting pressure that his lawyers were putting on -- putting on prosecutors. u.n. in, bring it to their attention. basically, the more countrie

nejra?t it funny how things turned around, from last week, when we talked about the s&p 500 dropping below the 200 day moving average. it is back about it, and tech shares rallying. apple, you mention. the treasury yield, 10 year, up two basis points and stabilization in retail sales data, after it was bad in january. the story about risk-on today, the yen is the only g10 currency declining against the dollar today. look at cable. it was on fire earlier, as much as one p -- 1.1. let's check in on the markets in asia with juliette saly. strong gains today. great to see you. juliette: we saw the msci asia pacific with the biggest one-day gain since january. hte nikkei closed higher, powered by tech stocks on the back of the nvidia deal and the weaker yen. a little bit of a flat session in australia and jakarta. a very strong rally in indian stocks, closing at a five-month high yesterday, and up again by about 1%. separatefter two opinion polls suggest prime minister modi's government is on tra

nejra: thank you so much.cks off a day of speeches from some of the presidents.s' when you are traveling to work, tune into bloomberg radio. this is bloomberg. ♪ 7:17 a.m. in london and way are 42 minutes from the equity market open in europe. global yields have driven the narrative. let us take a check on the 10 year treasury yields. up a few basis points. after dipping below to 40 for the first time since december 2017. dollar-yen on the front foot. as is the oil, bouncing back after it least today's of decline. some concerns around venezuela as well feeding into the bounce bounce back of the oil price. cable struggling for direction. questions on where we go from here on brexit. the indicative votes on wednesday. 1.3re at around the 130 -- to handle. not getting a lot of direction or european equity futures. a strong risk on in asia which may not carry through to the european session. uber has confirmed it is .urchasing a dubai-based rival joining us now is matthew martin. matthew, great to have you with us

nejra: you are still positive on risk assets. the fed is continuing the party and you want to be part of it. looking into other aspects as well, i understand you are taking most of your inflation exposure from the u.s.. that i sort of understand. why are you looking to be structurally long on the dollar? >> it is these three scares. ,ne is china, one is inflation and the third is, if you got the stronger dollar for any reason, that pushes up emerging-market funding costs at a time when china is trying to stimulate. if you look at the second half of last year when emerging markets did well, that was against the backdrop of the dollar weakening. shocked that just causes the dollar to strengthen risks undermining markets. you get back to the narrative the stronger dollar is dangerous for buyers. it is that backdrop of saying, work at the risk suddenly emerge from. unexpected inflation, stronger dollar, or something that goes in china are the three areas we think about most until we see that really positive equity sentiment. the equi

i manus cranny with nejra cehic in london.is "bloomberg daybreak: europe" and these are the days top story. double trouble. deutsche bank and commerzbank finally confirm merger talks, but a tie up could see job cuts in the tens of thousands and retrenchment in key markets. we are live in frankfurt. theresa may asks mps for an honorable compromise over brexit, and the chancellor warns there won't be a vote this week unless tory eurosceptics back down. mliv from baku. the chinese oil minister tells bloomberg it is too early to discuss an extension to output cuts, but urges commitment to the current agreements. >> until we see it hurting consumers, until we see the impact on inventory, we are not going to change course. ♪ nejra: good morning, everyone. welcome to "daybreak: europe." rival lenders deutsche bank and commerzbank have confirmed they are in merger talks. both banks are struggling to restore revenue growth that have lost 90% of their value from their peak. the german government is backing consolidation, and bloomberg u

nejra: i am they rotated in london, i also -- i am nejra cehic in london. a bit of pattern, some concerns around the trade discussion. it is the 10 year yield and two-year yield you want to watch. dollar-yen goes nowhere, weakness in the aussie, it did fall earlier after comments from the rba. manus. manus: they are worried about has prices, aren't we all -- house prices, aren't we all? stronger, the bit uae getting to 100% compliance everybody is a little bit cautious on day-to-day. . year for18 was a good generali, reporting a rise in four-year profit boosted by asset sales and improve margins. they also increased dividends by about 6%. they are banking on digital expansionon and an and asset management. for more, let's speak to the man at the head of italy's largest insurer, joining us for an exclusive you --exclusive interview. you are absolutely right, you laid out the strategies of where generali sees itself. i'm delighted to be joined by the chief executive pay for giving us some of your time. we were just talking about some of the transmission gener

nejra? nejra: debra mao in hong kong. thank you so much.owy we are asking on mliv, far could the s&p 500 rise or fall after testing the triple top, the 2815 level, which we closed shy of but stayed above 2800, a four-month high. you can join the debate, mliv on your bloomberg. manus: coming up on "bloomberg tv," it is all the makers of ris., ready to go in pai a host of exclusives. theresearch chair, president of the bank, and jean-claude trichet, former ecb president, as well as the man himself, jamie dimon. don't miss those exclusive interviews throughout the day. ♪ ♪ we will be issuing an emergency order of prohibition to ground all flights of the 737 x 9, and planesa associated with that line. >> my concern here is the transparency on aviation safety, and the faa's ability to oversee a company as large as boeing, to ensure the safety of the flying public. those are questions that are in doubt now. >> these are not pleasant conversations, but they are conversations that need to take place, decisions that need to be made. >> if you g

inra: i am nejra cehic london.ica's strong start to the year in the eurobond market shows a sign of abating. a number of countries are selling bonds to raise capital. of $10 billion, it is set for its first-ever sale of eurobonds. bena is looking to raise to in dollars to finance its budget. it is also looking to sell an additional $1 billion bonds at a lower rate than it is paying and ivory coast, plans a billion dollar bond sale as it reviews its financing needs against rising borrowing costs. what makes african nations so attractive to bond investors? kevin daly joins us. great to have you with us. a lot of supply coming to the market but if you take a look at my chart, we can see the yield have compressed so far this year. still above the 10 year average. does that make them attractive? kevin: it does. we are in a market environment where investors are looking for yields so if you look at the hasormance this year, it been very strong with the exception of mozambique which has got its own country specific risk i

nejra: thank you.he prime minister in the u.k.. theresa may's parliament has taken control of the brexit process. it will now put forward its own plan of how the u.s. -- the u.k. will exit the european union. called theresa may's plan an abject failure. >> i would like to congratulate the house for taking control. the government's approach has been an abject failure. where does parliament go from here? bloomberg's european open anchor anna edwards joins us. we understand these indicative of votes are due to happen wednesday. they are nonbinding. what to they mean for the brexit process? see whereill have to this takes us. a number of avenues remain open. parliament moves to take back control, but so far they have taken control of the timetable. we will have to see whether parliament can come to any conclusion what to do with this new power. -- ittive of votes means seems to me and parliamentarians will be given a piece of paper with a lot of options -- asked to vote on them, possibly to rank them. so t

nejra: thank you. global yields plummeted in tandem. what is that tell us about the state of the economy? some strategists say it's an ominous sign that the growth slowdown is not a fleeting event. the reality may be less dire. here to explain the forces at play is bloomberg's dani burger. tell us what you have found. german bond yields have gone negative. that u.s. curve is inverting. priceseuro area disappoint last week. structural shifts might be just as important. there could be a less ominous reason for those prices. think of the technological advances, not to mention the amazon effect. it has made everything cheaper for consumers. we did have that rise in u.s. bonds. they once again have reliable buyers. they will really have to purchase more securities or else the balance sheet will shrink. then there is my favorite. the german buyers are pricing sensitive. there are types who pile into bonds because trends suggest momentum is to the upside. then there is your everyday portfolio construction rat

nejra: interesting.ike your answer to the big question they are asking all week about whether we are seeing a bottoming out of global growth, you think that we are? elias: we're not seeing it right now. the risk to global economic activity is still skewed to the downside because the leading indicators continue to point downward. we are not seeing encouraging signs right now on the global growth front especially on the manufacturing emi, it is still -- manufacturing pmi is still in contractions on. fiscal stimulus or fiscal policy is about to turn more stimulatory in that you zone into a large extent in the u.s., it will be an important pillar of support for global economic activity and will shift the risk in favor of a pickup to global economic activity. economice euro area surprise is the least negative since september, so i guess you could look at it in that positive way. is japan the outlier, though? elias: in terms of growth, yes. they face a recession in later 2019 if the government raises those con

nejra: let me show you another chart as well.te environment has been spring moves in equities. -- spring moves in equities. moves in equities. bond proxies and what has been losing out, things like financials. he is this how you have been shaping your sector rotation? >> basically in general for interest rate sensitivity, so yes. in short, yes. in terms of the rally for the u.s., how much more potential upside? wouter: that is a hard call to make. we generally don't think of targets. we are looking at the trade-off between different asset classes and where we think you get a good bang for your buck. that is what you do. we are not close to the highs we reached in october, november. it really depends on growth. fed, to us, under current leadership is not impressing us. as investors, we don't like what we are seeing in terms of messaging and policy. that is the hurdle for us. atra: wouter sturkenboom northern trust asset management stays with us. coming up, central banks act to mitigate the effects of rates on banks. ♪ nejra: let's

nejra: a look of what is trending.irstl'salk, solo female film rakes in the bucks for the biggest opening weekend so far in 2019. medicine they do not get any ideas. you are not going to marvel. new york democrat alexandria capitalism is unsustainable. nejra: all about trade. hedge funds use an unknown data guru to make millions on nintendo. all the latest news and analysis on the 12 -- 727 max airplane crash in ethiopia puts the spotlight back on boeing. into annabelle droulers. annabelle: thanks. mitsubishi is planning to set a single board. according to bloomberg, the new structure will replace 2 separate entities. the likely reorganization called as of the carmakers attempt to streamline their business making. the lecture carmaker said after evaluating retail locations, it will raise a vehicle prices by 3% on average worldwide. the global week to place orders -- users will have a week. the perimeter could've analyst later today with a value of just under $6 billion. the takeover would help the u.s. company require

nejra: exactly., another defeat for theresa may. 300 91 votes. not as bad as that historic 230 margin of loss that in january but still, so many questions ahead. what is going to happen now? are we going to get an extension or even a second referendum? lawmakers are going to vote on the prospect of a no deal. if they defeat that, there will be another vote on thursday in terms of extension to the march 29 deadline, but how long can theresa may hold onto her -- as well? it has been another stinging blow for her. manus: is that really off the table, neijra? whammy of risk. the brexit vote, the cpi that missed, and a strong auction. that is down to the lowest level of this year. we dropped by five basis points and we saw quite a significant move. strong signaling. bmo says this is strong signaling. vol is cratering. jeffrey gundlach says you want to own -- this is what we have got for you. of course, the uae oil minister warning you go towards litigation towards opec, and they will all turn on the taps.

nejra: do you agree? >> i think so, but it is varied.ak about emerging markets, it tends -- depends which one you are talking about. turkey has a lot of debt. it has compromised central-bank independence. i'm not sure they have left the front pages permanently. nejra: you have made the point high-yield in emerging-market has a decent yield pickup diameter -- diana. approachingactually this? are you waiting on the sidelines for opportunities to buy on dips? do you have strong convictions in particular areas? >> our strategy has been buying on dips. we spoke in december reiterating this was a market you wanted to buy. spreads are above 400. it's hard to get negative returns in a 12 month period. ish a shift in the fed there confidence in increasing exposure. we expect to see investment. there has been a net outflow. investors are under allocated. as we get conviction we have experienced a regime shift in the central banking shift, that money will come back. nejra: coming up, as president xi jinping offers a new era in relations with italy,

nejra, good morning. nejra: you showed dow futures down largely on the boeing story.clines for the s&p 500. week for the worst global equities since mid-december. data globally is concerned about global growth. are we heading a trough in the data and will it get better in the second half? a question that the markets have to ask themselves. mentioning the dow jones industrial, the transportation index has 11 consecutive days of decline. the worst run in 40 seven years. is that a harbinger of future doom? the 10 year yield dropped every day last week. dropping 10 basis points. edging up today. jay powell on friday still seeing "patient." and cable is hitting -- is taking a hit. theresa may did not get significant concessions from the eu. will she be able to get her deal through parliament? and reports that her very position could be at risk. juliette saly is in singapore with more. good to see you. >> a little bit better than what we had seen earlier or what we had seen at the end of last week when we saw that big downturn coming through in chinese stocks. remember, it

nejra: president trump claims vindication.no collusion with russia, but the fight over the report is far from over. bond yields tumbled to the lowest levels in years amid concerns about slowing global growth. theresa may is set to face a plot by her own cabinet to ouster as she tries to put her brexit deal to another vote. lots to talk about in the markets, but first, our top political story. president trump is calling the mueller investigation and illegal takedown that failed, the attorney general says there is not enough evidence to charge him with obstruction of justice. joining me is bloomberg's senior editor for breaking news in singapore. great to have you with us. is this total exoneration for the president? where does the political fight go from here? >> thank you for having me. this is a great headline if you are president trump. this is one of the better headlines president trump has had throughout his administration. in robertal question mueller's inquiry about whether or not there was collusion between the trump ca

. ♪ nejra: from bloomberg's european headquarters, i'm nejra che -- we are live in frankfurt.ks honorable compromise over frexit as the chancellor warns there deal unlessa skeptics back down. russia's alexander novak tells bloomberg it's too early to discuss an extension. we are live. manus: we are live from london and abu dhabi. the dollar takes a little bit of a dip. the dollart changes, drops. 2-year note's are lower than the fed fund. the dollar is under pressure. ?s the fed setting the bar high have a look at the oil market. wherear bond yields are fed yields are. it is going to be a tough nut to crack. the oil market very much and focus. we will talk more about that with anne-marie. there is a less than cohesive voice from baku. hesitant. little more two roads diverged in a yellow wood and someone has got to make a decision. we've got everything.. i think it is post-st. patrick's day excitement. anna: --nejra: i saw you tweeting about that. let's talk about equity markets. last week we saw the best week for equity since november. we could build on gains today. judging by

nejra: u.s.fficials are delling bloomberg they're concerned china is putting back and walking away on trade pledges. president trump responding saying talks are going well. >> we have heard a very happy, clappy message from the trump administration that talks are going well. donald trump said things are progressing an moving along. the trump administration has indicated that sooner than later there's going to be a signing summit between president trump and his chinese counterpart, and i think what our story revealed today, it pulls back the covers a little bit on the talks and show, china is pushing back. it's not falling at the feet of the trump administration. the issue that's the core u.s. fwree advance, intellectual property theft of, is a hard ssue for them to agree upon. >> prime minister theresa may asked for an extension though brexit deadline. now to june 30. >> i believe a short extension would be possible. but it will be conditional on a positive vote on the withdrawal agreement in the

nejra: deutsche bank and others in talks.

nejra: let's ask you the question of the day, which is very simply, will italy be a negative catalyst for assets again in 2019? sarah: i think there is a risk that could happen because we are seeing tensions building, indeed since the elections a year ago. we have seen the ledger moving well ahead of its coalition partner, five-star. it raises the question of whether we could see early elections.

nejra: it is just on 7:00 a.m. in london. we are just over an hour away from the start of cash equity trading in europe. the shanghai compass at closing above 3000 for the first time since june. what we are seeing is the risk-on rally given the trade headlines. the prospect of some sort of deal between the u.s. and china. let me bring you the turkey inflation data. we were expecting a slumming in inflation year on year for february. the expectation was 19.9%. what we actually get is 19.67%. a little bit slower than expectations. in terms of month on month we come in at 0.16%.

nejra: we have to take this day by day. thank you for joining us. weighed in on the deepening political crisis in the u.k.. he says the extension request will not remove uncertainty surrounding the impasse and will only raise the odds of a messy divorce. he adds that hard brexit would the u.k. andto less so for europe and the united states. john roe is still with us. how do you prepare for all the implications of brexit in your portfolio without predicting what's going to happen? the difficult bit. >> it just keeps changing. up to now we have been betting against a hard brexit but that is now taking up. -- ticvki hard brexit risk has dwindled and we are getting to the point where the brinksmanship does mean the risks become more symmetrical. it is unlikely we get the hard brexit. volatility could be two-way. the time horizons are coming down from weeks today's and now potentially if you do see big swings, you just have to decide is it overbought or oversold? there are still opportunities out there. one of the strangest things i have heard is people

nejra: the u.s. and china hold another round of trade talks.d news for boeing. >> you could argue the chinese are certainly have to play nice.

nejra, you are on the green. 2016 the range, on sterling was 12%. today the calls are anywhere between an 8% demolition on the downside if the parliament goes through a hard brexit, to 2% on the upside of a deal goes through.

nejra: deutsche bank and others in talks.

nejra: the u.s. and china hold another round of trade talks. more bad news for boeing. >> you could argue the chinese are certainly have to play nice. >> central banks make dovish moves. >> i did not have any increases for 2019. it does not mean i could not change my mind. >> officials speak frankly about the global outlook. >> think the turning point came earlier than expected. >> moving in a predetermined direction at a slower pace. >> it is all straight ahead on "bloomberg best." hello and welcome. this is "bloomberg best." your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a look at the top headlines. last friday, robert mueller delivered his report on the 2016 election to the department of justice. by monday, the summary of the findings was causing a stir from capitol hill to wall street. >> president trump claiming victory after special counsel found no evidence of collusion with russia. attorney general william barr saying there is not enough evide

nejra: hmm.berg spoke to 18 women with something like 300 years of combined experience between them. when bloomberg spoke to these women, some of them said that they had gone to their hr department and actually been persuaded to stay silent. do the hr systems actually need to change in the u.k. insurance industry? john: in our hr systems, we take any form of complaint seriously. i heard that. one of the things i said we would do was set up an independently-managed and confidential multiaccess point that anyone could go to if they feel they have a complaint or a grievance. so at the very least, it can give them advice, or even more strongly than that, it can run a process with these people feel will they be heard. it cannot be right that they people feel the way they feel as reported to bloomberg. jason: coming up, his own firm started an investigation of the college admissions scandal. carol: plus, what is life like for transgender americans? we hear a first-hand account. jason: this is "bloomber

. ♪ nejra: good morning, i am nejra cherish live with mask cranny live from dubai.ay's top stories. isresa may plan -- plan torpedoed. renter a lengthy delay? we speak to german chancellor angela merkel. william dudley said tightening could be back in play later this year. committing to cuts, oil holds near i-19 eyes after opec and its partners pledged to continue production curbs, we speak exclusively with the secretary general live. ♪ manus: warm welcome to daybreak europe from dubai and london, straight to the bond markets, we have another day to run until we find out what the fomc has got to say. here are 10 year go dark -- term bonds. the lowest since 1988 and the tightest bandwidth, 22 bits. are we sleepwalking ourselves into unpreparedness for volatility? take your mind back to 2013. you will not see that type of two-way risk him back in the market area there is something interesting going on, fed funds yesterday, the two-year paper was below the fed funds and today in australia you're seeing three-year paper, trade below the or b. the next leg is to rate cut

nejra: with brexit d-day looming, the u.k. pleads for an extension. mr. have done our best.

oprah nejra -- operating revenues are up by 30%, income was down by 10%.is explained by the recession, the sale of one of our properties. without one of -- we would have been 30%. at this year we are looking the much, not much lower. than incomeer figures. because for 2018 we had the one very big [inaudible] that ava big boost toward listing revenues. [indiscernible] yvonne: we have some breaking news regarding there is a boeing situation at the moment. ethiopian fatal airline crash. we are learning singapore according to the straits times there is reporting that singapore will be grounding 8's.g 737 max announcing a grounding this tuesday morning according to the straits times, now following china and indonesia in being a more cautious note in grounding these flights for now. [indiscernible] as well. of thejoined by the ceo philippine stock exchange. we were talking about earnings. help us understand what is the pipeline looking for share sales this year? >> ok. unfortunately, the first quarter is not yield a single ipo and to make matters worse, we are h

nejra: will brussels actually give an extension? what will the terms be? maria: donald tusk, who in many ways speaks to the european council, he said i will propose a long extension. he hasn't clarified if this is one year or two years. there are really two choices. do you force a no deal or accept the extension? the prime minister says she wants a short technical one? we could see the e.u. agree to it but because at this point, they don't want to be blamed for a no deal brexit. matt: the chinese government announced measures to counter slowing growth and encourage more foreign investment. lawmakers at the people's conference site they will put all companies registered in china on a level playing field. tom: this is a real focus for foreign investors looking at the events of the last 10 days. they fast tracked this law. they will allow foreign businesses to be viewed by local governments and others as on equal footing with chinese companies. there will be an appeals system, businesses, if they a contract, for example. the premier said the focus and priorit

the ceo spoke exclusively with nejra cehic. ♪ not the lloyds that i want to be part of, and not the lloyds of my colleagues feel they want to be part of, either. if these occurred 10 days ago 10 it isago, i don't care, not acceptable in this day and age that any woman should not deal safe. you go through the actions even announced, one of them is important, which is to understand through an independent cultural survey what we are doing well, but what more we can do. what i am clear on is whatever we say, we are not doing enough. we have to ensure that everybody, whether it is a woman or a man, should feel safe at any time of day doing anything associated with lloyds. i'm determined that will be the case. >> how can you actually manage to convince people they will feel safe out of the lloyd's of london building? it is one thing to police behavior while people are at work, but that didn't happen within the building itself. >> and you are right, because lloyds operates globally, not just in london. we have been clear that we will impose our own sanctions. whatever anyone of the constituent co