nejra: good morning from bloomberg's european headquarters in london. i'm nejra cehic. fed chairman jay powell isn't moved by stronger inflation data, affirming his message on policy easing. says waningn business confidence is his main concern. >> the first quarter was fine but the indicators for the second quarter unless strong. people cutting back existing plans but there are also not leaning forward in the way you might, as strong as the numbers that shown in our economy. nejra: president donald trump claims china hasn't increased its purchases of american farm product as promised. awaiting the outcome of high-stakes meeting between japan and south korea. digital date. trump slams facebook over plans of a cryptocurrency. vw and ford are set to announce an expanded alliance today. welcome to "bloomberg daybreak: europe." 6:00 a.m. in london. treasury curves across, following the better print in the u.s. despite the fact jerome powell kept to his dovish message. the 10-year and 30 year yield jumping eight basis points yesterday. we had the lower than average bid to cov

nejra: in the u.k., the acronym dude was being used in terms of what boris wants to do in terms of delivering brexit. how is business reacting to the news of the new prime minister and what he's aiming to do? we got some classic boris dude.day including use of we got classic boris. that has been locked up by the u.k. media. business has yet to be convinced by the steadfastness which she seems to be adopting the 31st of october deadline. that's a do or die deadline for him. the cbi and british chambers of commerce have reservations about that. the deliver certainty in the sense that it eight -- that a date is firmly on the cards. that makes those who represent the business community nervous. they know they have bridges to build with business. remember that colorful language he used previously to describe how much he didn't care about what business thought? we know that he hasn't always been on the same page as busy -- big business in the u.k.. he knows he has bridges to build. one of the key appointments

nejra: from bloomberg european headquarters in london, i am nejra cehic. this is "bloomberg daybreak: europe." 160,000 reasons to hold fire. celebrations are over and markets need a catalyst. what better than the nonfarm payrolls report? what could the numbers mean for fed rate cut expectations? deutsche bank's big restructuring plan could stretch far beyond its equities and rates division. in korea, samsung's problems worsen as quarterly problems have on weak demand. indian markets await a budget set to focus on infrastructure spending and investment drive. we are live in mumbai. u.s. president donald trump delivers a speech heavy on pomp and pageantry while light on political messaging. >> together, we are part of one of the greatest stories ever told. the story of america. nejra: good morning and welcome to "bloomberg daybreak: europe." 6:00 in london and we are waiting for the u.s. jobs report. ahead of that, we've seen the 10 year yield it. to bond markets open after the celebrations. we got to 194 and our study at 1.95. futures come up .1% on u.s. eq

nejra: i'm nejra cehic.h the 10 year yield back at 208 and two year yield having jumped 28 basis points, the question becomes what it be enough for the markets if powell signals yes, july to be a done deal, but beyond it is unclear? manus: yes, it takes us back to the peace you started the show with. the piece on the bloomberg opinion column which is has the fed set up a dovish trap? talkeday, we had m&g about a torturous set of assets to hold which is bonds. the question is what is the next pivot from powell in terms of what the information and direction they take? nejra: exactly. if he does walk the markets back, what does he say? point to the underlying strength of the economy? what will it mean for equity markets as well. they will likely take direction from powell this week too. manus: i know you live and breathe these. that is a decade low to cover 10 year paper. is that because yields worse regionally -- were screeching the unappealing or something much more brutal to come in terms of the debt level i

i am nejra cehic. let's get a check on the marmots -- check on markets. some positivity still feeding through the back of that china data that came in better than expected in terms of the retail sales. s&p futures on the front foot, up .2%. four days of gains. closer to above 3000. how much farther does the rally have to go. we look ahead to earnings. the 10-year yield is backed up a .2% curve. let's get the bloomberg first word news. >> president donald trump has been accused of racism this after suggesting four female lawmakers to back to their crime invested -- crime infested places they came from. of the four women were born in the u.s. and are racial or ethnic my own -- minorities. -- the purchase of a russian missile defense system. the u.s. says deploying the missiles jeopardized a fighter jet. the white house as picked a package of sanctions for turkey with an announcement coming soon. dozens arrested as protests continue in hong kong. this includes clashes with the police in a shopping mall. e

nejra: good morning from bloomberg's european headquarters in london, i am nejra cehic. this is "bloomberg markets: european open. williams hits dovish notes. the comments are academic in nature am other regains ground. days losses after an american warship downs and iranian drone. the u.s. president calls and other nations to protect their ships. corpus galore, boeing shares drop. europe, the new chief executive, we hear from the head of the groups china's business exclusively. this is long-term, we have one of the biggest production bases. nejra: welcome to "bloomberg daybreak: europe." 6:00 a.m. in london. williams, andom the markets react. bond markets price 41 basis points, we have pulled back from that, but yields across the curve. yield, to your yield drops below 1.80. we move up three basis points today. we see dollar reaction to the fed speakers. yen, and japan inflation data pushing the yen weaker. the youngf equities, affecting asia, but u.s. futures on the front foot. today's get gains in session. gold hitting a fresh six-year high. brent jumping on concerns

nejra: i am nejra cehic in london.reaking numbers from nestle. organic sales growth, 3.6%, estimated 3.7%, so slightly soft on that number. full-year organic sales growth, around 3.5%. full year guidance for 2019 is confirmed, but that first half organic revenue miss will be in focus. first half sales overall, 45.4 6 a slightwiss francs, miss against the estimate, so a little softness. matt: let's check in on the markets now, ahead of the european open. we the asian stocks, if you look at the msci asia-pacific index, down about 0.5%, but nasdaq futures higher. this is interesting, because amazon missed, coming out with an outlook that was disappointing to the street. nonetheless, a $25 billion buyback announcement from alphabet seems to be driving nasdaq futures up. littlellar, 1.1145, very changed from 24 hours ago. pound at 1.2545, also little changed. the most interesting story of the day, i think, is the turkish lira. nejra: absolutely. cable a little soft as johnson gets pushback from the e.u. but absolutely stunn

nejra: interesting.ccormick staying with us. tesla shares jumped in late trading as a record quarter of deliveries alleviated the worst fears about demand. the electric carmaker handed over 95,000 cars to customers in the three months to the end of june. for more, dave mccombs joins us from tokyo. great to have you on the show. thanks for joining. what is next? dave: the focus has shifted to margins. to showwhere tesla has not only that it can produce cars but that it can sell them and of course that it can sell them at a profit. that has been very difficult for them in the past. it is tied up a lot into the actually selly the vehicle at and that has tended to include a subsidy of some sort. investors and analysts are looking very closely at those margins that may not be as large for the companies mass-market thel as it has been for luxury models. so now that the emphasis has been on that model three and producing large quantities of that, there has been will focus on what is the bottom line here and can

nejra: thank you.nparliament set to vote ursula becoming the next president of the european commission. she needs a majority. some lawmakers are not backing her as she did not campaign as an official campaign in the may election. paris, great to see you again. she has addressed parliament. issue likely to make it. is she likely to make it? reporter: we were told this would be a tight vote. that speech has gone down quite well. she spoke in french, german, ambitiousaid out and eco-environmental agenda, which is something she is trying to use to appeal to green lawmakers, which did well in the european elections. she talked about being carbon neutral, gender equality, things that sound good to progressive years in europe. the vote is tight. it will be secret. that may make things easier for her. some of the lawmakers i spoke to will tell you she needs more than 400 votes. anything below that would get her the nomination perhaps but make her look weak. she needs something above 400 votes today. nejra: wha

nejra: i am nejra cehic in london. little bit of caution on a headline level at the msci asia-pacific index. it is a quiet week for the fed. biters -- closer to a 25 point for july. geopolitical risk in the gulf tanker.n seizing the dollar-yen on the front foot. a little bit of yen weakness. that is about dollar strength. manage. check and on copper. a little bit of a move higher. it is weaker according to citigroup. they are saying we are at end of cycles doldrums. 2.05%. you want to buy those yields potentially as you see any kind of a backup. use the s&p futures rising. there will be some pretty big earnings. adjust your strategy rather than going to underweight risk. overweight in equities. let's talk about the mass demonstrations that turned out last night. they turned into violence in hong kong as police clashed with demonstrators. police fired the or grass -- tear gas to clear the streets. protesters defaced the national emblem of the building's entrance. inid tweed is on the ground hong kong. always good to get

nejra: thank you.e bank, their ceo putting the final touches on sweeping turnaround plan, the supervisory board meets to make a final decision this weekend and considered his huge job cuts especially in the u.s. were equities and interest rate derivatives trading has been marked as major targets but the cuts could go further. joining us is our german banking reporter. let's start with asking how likely the cuts will be in the 20,000 region? >> it is likely to be at least the range from 15,000-20,000 and likely at least above 10,000 -- 15,000 even, not sure if it will between thousand but even the 15,000 --e is big -- 10,000 but even the lower range is big. nejra: what does it mean for their future in the u.s.? >> that is a crucial question, deutsche bank will need to answer when it formally announces the restructuring plan. they still have a large u.s. presence and almost 10,000 people, closer to 9000 but really big but it is down 10% on 2017, it is already reduced but it is still pretty big. if it goe

nejra: thank you.nderway.eason well we've seen second-quarter numbers coming in better than expected. the s&p 500 and nasdaq closing at record highs yesterday. estimates for the third and fourth quarters are moving the wrong way, worsening over the last two weeks. companies beating estimates now are refusing to raise guidance, effectively lowering the outlook for the second half. .oining us now is the cio at -- busy earnings time in europe in the u.s.. let's start with the positive side. if you take a look at the chart thanake it back further this earnings season, and we go back a decade, earnings growth largely explains the s&p 500's gains during the past decade. while we start to question why we are at record highs again, does this chart say there's no bubble here? >> it's a question of how you define a bubble. what we are looking at today is a position where the valuation on the u.s. market isn't actually at stratospheric levels. it's nowhere near where it was and 87. the idea of us being in a bubbl

nejra: thank you. now, the u.s. has added more products from the eu to a list of goods that could be hit from tariffs as part of a long-running subsidy dispute between boeing and airbus. u.s. stock futures fell after the announcement but they have since pared losses. joining us is senior currency strategist at cba europe. we saw the rally and risk assets, and today we are seeing a different picture as markets digest that this trade truce doesn't mean there is no uncertainty ahead. in this environment, what is your take on where global growth goes from here? and number of manufacturing gauges yesterday showing week across -- showing weakness across the globe. >> the risk to global growth is still skewed to the downside. there are still structural impediments to a long-lasting breakthrough in the u.s.-china trade negotiation. this means any trade deal in the foreseeable future is probably still low in likelihood. last year, we also have a trade truce and 90 days later, a further escalation in trade tensi

nejra: and i am nejra cehic in london.r has posted a strong revenue gain and 10%.d dividend gains earlier this year, the group said it was insulated over brexit. but how is it feeling now? joining us now is the ceo, tony smurfit. sounds like these numbers, you're feeling quite comfortable -- confident about the outlook. with boris johnson as prime minister in the u.k., does that change the outlook? tony: we operate in 35 countries, the uk's one of those countries, but we have been through many crises over the years. we have been in business over 80 years, and if it there is to be a crisis, which hopefully we hope there will not be, we will come out stronger in the end. we certainly hope there is not in no-deal brexit. it is an important issue for us that there is a deal in the whole brexit situation. that thet the end adults will take over and make sure the deal happens? matt: he hope there is some sort of agreement. you are concerned that an no-deal brexit would be bad for business, anthony? tony: i think it would be very

nejra: i'm nejra cehic in london. larry kudlow says trade talks with china will continue in coming weeks after president europelams beijing and for playing a big currency manipulation game. but thered yields, won't be fireworks for treasuries today. for july 4.hut next for investors is the june payroll report as u.s. stocks hit fresh records. ratesobius says negative should be sending investors toward em debt. he also weighed in on the fx manipulation debate. >> the currency weapon has been on the table for a long time after the chinese have used that weapon. manus: a warm welcome to daybreak: europe. let's tell you what is going on in the market. what is happening with the dollar? will we see a new form of fx wars? bloomberg dollar index, this is five days. we have been down three days in a row. is it slippage or selling? europe, slams china and both in terms of their foreign-exchange policy -- big currency manipulation game, and the question he poses. do we need to match or continue being dummies? what does that mea

nejra? nejra: thank you so much.et's kick it off with trade and the latest on the world's largest economy. president trump has reiterated he could impose more tariffs, despite promising to hold off in a truce he reached last month. >> we have a long way to go, as far as tariffs are concerned. billion wether $325 can put tariffs on. we are talking to china about a deal, but i wish they did not break the deal that we had. nejra: joining us is an economist at ubs global wealth management entity the chief economist for bloomberg economics. welcome both, great to have you. let me ask you first about these latest comments aired suppose he is stating the obvious. how much of a threat is it? tom: what we have think about on trade, and in particular the u.s., is the looming presidential election. away, but020 is a way the campaign drums are already beating. tough on china is a vote-winning message. so when we hear president trump speaking, we have to keep in mind that he is speaking to that political base. even if we don't ge

nejra: i am looking at the i.t. services company gemini seeing in operating margin of 12.3 to 12.6% and the revenue change up 5.5% to 8%. second quarter sales up 5.7%, first half revenue at seven .01 billion euros. cash flow over 1.1 billion euros from cap gemini. , youll speak to the ceo can catch that interview at 9:30 london time. the big macro themes, the fed and trade talks. matt: just a mention as well, the bank of japan's banding pat trimming inflation. pat, churninging inflation. if the fed does cut, you can see the japanese yen gain strength against the dollar. yen peronly by 108.6 dollar, where you could have per dollar8 yesterday. us stocks in china are gaining is the trade talks kickoff. some optimism coming out of chinese trading. gold in pound terms, interesting nearing- because 1175 the all-time high gold hit in sterling terms. 1195 will be an all-time record. u.s. futures, if you look at the s&p 500, are looking more firm today after we saw a drop from the record high it hit on friday. 170 companies

nejra: thank you so much.he u.k. gets a new prime minister, boris johnson is a newest dutch a u.s. trade deal will not be reached soon after. discussions will be tough and robust. results of the leadership context will be -- contest will be next week. we are seeing the pound rise today and comments from michel barnier perhaps talking about negotiation on the irish border. we have had more concerning comments from jeremy hunt and boris johnson around the backstop. as the pound attractive at all? bob: i don't think the pound is attractive. the backstopof will escalate and boris johnson will use the threat of a hard brexit to try and negotiate a better position. i think the pound has difficulty in that environment. what is more interesting is gilt and the sea change, i carney which tells us -- by carney which tells us there is a sea change and he is willing to respond with more monetary accommodation. nejra: can i get your take on those and ask whether it makes you long gilt? nejra: we have a much more -- geraldi

nejra: nejra cehic i'm -- i'm nejra cehic, these are today's top stories. goldman's top analyst says monetary policy could turn into a hall of mirrors. a warning of his own. >> i think the market got to dovish on the fed. the idea they would do 50 basis points in terms of easing in july was too optimistic. more to come, hong kong's protest organizers say there are more demonstrations ahead. this as the prime minister legislation,extra -- extradition legislation saying it is dead. deutsche bank shares slumped over 5% as danske bank flashes its profit forecast for the year. manus: welcome to daybreak: europe. time for a little defense. s&p, lower. it is blackrock who leads the charge this morning, cutting their equity risk, changing cash balances. go moderately defensive, the difference between blackrock and blackrocknley is likes u.s. equities. they still want to be overweight u.s. equities, so that is something to bear in mind. how much more bang for your fed back will you get? we will put that to the guest host this morning. let's look at consequences of o

nejra: the u.s.rparts but expectations remain low. always says difficulties ahead could affect the -- huawei says difficulties ahead could affect the future of their company. liang: we don't know when the u.s. will make the decision on android and when that will come, so we have to make reparations for our products. we will evaluate our strategy for the overseas market. if we are not able to use android, we have the ability to develop our own operating system and ecosystem to become a basis as a server to the customers. nejra: that was liang hua speaking with tom mackenzie, great work. what do you want to highlight from your conversation? mentioned the $58 billion in revenue in the first half. the growth of 23% on that front. the chairman expects that growth to continue into the second half and thinks growth of 2019 will top that from 2018. significant,d particularly as the company faces major pressures from the u.s. like the black list. ban and a and -- pressure campaign for other countries to block

nejra: i am nejra take it from london. these are today's top stories. goldman sachs and jp morgan reporting second-quarter results after a difficult time for citigroup. wells fargo numbers are also on the docket. balancing act. steven mnuchin says he could go to beijing if a trade talk goes well, and also criticized facebook's cryptocurrency ahead of a crucial hearing. theset to make history, german defense minister steps down as defense minister ahead of a secret ballot that could cement her as the first female european commission president. ♪ ♪ manus: warm welcome to your biggest concern -- to "daybreak europe," and what is your biggest concern, a meltdown or a melt-up? this is the msci world index. to bail on stocks. central banks are giving you a gift, that is their message. more of a risk as equity markets go up, and people don't appreciate that. the question is, do you believe that going into earnings season? the least attractive market for them, the usa, their top calls australia and japan. a couple more markets, even i can't make wti more exciti

nejra: i am nejra cehic in london.to bloomberg first word news with annabelle droulers in hong kong. annabelle. annabelle: thanks. deutsche bank has announced a sweeping turnaround plan. it will see the biggest bank radically shrink and reshape its global operations. among the most dramatic of the changes is the land exit. the plan will see it cut 18,000 jobs. the restructuring is set to cost 7.5 billion euros through 2022. >> corporate banking will be the greatest growth driver as we see it going forward. especially in today's interest rate environment. that may change in the future as interest rates change, but for see great growth opportunities that have existed for several years and we had perhaps not been able to participate. annabelle: hong kong police arrested five people while dispersing the latest protests against the controversial extradition law. police made repeated -- carrie lam suspended the bill last month the protesters want it withdrawn entirely. the u.s. soccer team has won women's world cup, beating

nejra: thank you. duff track that some are worried about with powell turned out to be fairly benign. markets reacting in tandem. >> this is the fascinating thing, when you have such a big macro story, correlations will spy, that is what we are seeing. everything living together. the dovish tract when you would think that is the sms them, the concern over trade and what it is doing to the economy that it would hurt the stock market. that is not what we are saying. if you look at the screen you will see nearly all green. theseeen when it comes to equity markets. we are seeing hong kong, the strongest returns there. the bond screen also all green. everything rallying in tandem. maybe an issue if you're looking for diversification in this market. in currencies, every single g10 currencies rallying against the dollar as the dollar spot loses .3 of 1%. you can see some variation on the commodities side. this is a risk on market fueled by a dovish fed. if you look into the yen which is doing strongly, that po

nejra, how about you? nejra: i cannot show a preference for films, but why not.track. tom: part of my retirement program into the westside movie theater. it was not 100 degrees. i can report with full certitude the movie is better than the trailer. that is what we got out of it. viviana: you heard it right here. tom: your surveillance movie review, better than the trailer. with us is mike bell of jpmorgan in london. i want to go back to first principles. i know you do not talk individual securities, but the idea of hedge funds piling into industrials. is it a time for value or a time for growth that we justifies value? mike: i think it is a time for quality value and i think you need both. tom: help me with that. mike: we are trying to construct portfolios that are cheaper than the index but also higher quality because some stocks are cheap for a reason. there is higher risk in the economic scenarios deteriorate from here. likewise, that they of structural impediments. there are also quality stocks which look expensive. the way we are looking at it is trying to b

this is bloomberg. ♪ nejra: this is bloomberg debris. i am nejra cehic in london.us: and i am manus cranny in dubai. if thisto ask ourselves is a bond market. negative yielding junk bonds -- can it and well? look at the web around we saw in sovereigns last year -- last week in europe. i think our guest post from last week said it is a interest set of assets to have because when it whips, it really does hurt. nejra: when you look at the -- iively yielding debt know we have seen a bit of a backup and treasury rate but the gains we have seen in stocks can be seen as a hunt four-year-olds. we did have a gain of more that -- we did not have a gain of 0.5% last week. manus: in terms of market positioning, there is a lovely mork -- there is a lovely story out this morning. -- they talk about positioning. look at the bond market allocations. 20.8%. higher than even the post lehman story. historic numbers. we are positioning to extremes which means the smallest movement can shake down the markets. nejra: and what kind of small movement might we get this week? equity and mar

nejra: great to speak to you.c party to be branded in any way as socialist as it is for the republican party to be thought of as racist? julie: you are fighting for this cohort of sometimes mostly white, suburban women, and those people are not necessarily responsive to any kind of racist rhetoric. socialism is a tag and people like bernie sanders tag themselves as a socialist. i don't know if president trump could pin that tag on joe biden or kamala harris. that: are you concerned ultimately president trump is making a bet that comments like this will be worth it in terms of political benefits to his base? could that happen at the end of this? julie: there is no question about that, but the president had some good economic numbers over the past few weeks. we are not talking about the economy. we are talking about this rhetoric that is not helpful to his reelection efforts. he needs to appeal more and more to a broader coalition. they need to know how it will affect their pocketbooks, their children's opportunity

nejra: yes.r,safety busser -- will you set aside extra capital to do with the potential fallout of the money-laundering scandal? >> no. if there's a fine when there's a and, we will pay that fine exactly how that will pan out, it's too early to say. i think it's important to build a safety buffer in the environment that we are in. of, if i look at dense cap, many of those former executives are now facing preliminary criminal charges. are you worried about similar developments at said bank -- swedbank? nothing that i can comment on specifically. as you know, the economic crime authority in sweden has an investigation ongoing and that will continue. i'm not sure when it will end. it's not something i'm worrying about. would investors, the public, the authorities feel more reassured if swedbank appointed a ceo from outside of its own ranks? i do not have a personal view on that. that is a question for the board to evaluate. there's one thing which is pervasive for every bank ceo. negative interest r

nejra: i'm nejra cehic. let's get a look at the markets.is risk on after the trade truce between xi and trump at the g20. green on the screen with asian equities. we see a stronger yuan, but citi seeing women it gains. meanwhile after the first drop in four weeks, u.s. equities last week, futures on the front foot. the attention turning to the data and jobs. absolutely -- manus: absolutely. if we get a sub 100,000 rating, what will that do to the best on three rate cuts? are backing off on the 10 year government bonds. nymex crude is flying high. consensus is building between six-month and nine month extension to the cuts, which will expire. futures -- eurostoxx futures, a sense of relief. svengali or a worker reality in the markets. we have a fed put which is roaring. good news for stocks, now it is about delivery. let's get your business flash with annabelle. deutsche bank may cut more than a fifth of its global workforce. it would be the lender's biggest shakeup in years. the chief executive may approve the loss of as many as 20,000 jobs

nejra: absolutely. by bank earnings, you could conclude, as well as by the retail data, that the consumer might be holding up. the question, can the u.s. consumer upset the global manufacturing slowdown? yesterday industrials underperformed, underscored by the railroad operator csx. this chart shows the dow transportation average lacking the broader industrial average. bulls shis make stock udder? eddie: i think it should. i read that piece earlier this morning. it is a worrying sign. it is another sign that there's a disconnect between the real economy and what some of the data on consumer spending and so on, or sentiment data is showing us, particularly on consumers. this is another factor that we have seen, the drop in u.s. stockpiles of oil. not only of oil particularly, but of gasoline. that has been slower than expected. it is all kind of feeding into this narrative, that people just aren't spending the money. netflix is another one. it feels like people are getting a little nervous, that they are

this is bloomberg. ♪ loomberg. ♪ nejra: i am nejra cehic. these are today's top stories.k to what the ceo called one of the worst starts to the year in recent history. >> if you look at the first theter, we are very weak first two months and into march, --ngs are motorized area normalized. ceases profiter hit by job cutting expenses. is next u.k. prime minister said to be announced later whether it is boris johnson or jeremy hunt. theresa may's successor will have his work cut out for him navigating brexit. good morning, it has gone 7:00 a.m. in london. we are one hour from the target cash equity trading. we bring it all from banks to luxury. let's take a look at the numbers. second-quarter sales rise 12 when 2% beating the estimates. its first half of current operating margin is below 34.5%. also confirming its goal for revenue growth in the medium term. a little bit of a detailed second-quarter, rising 12.2%. x fx estimate about two feet there second-quarter and second-quarter revenue coming in at 1.6 7 billion euros. the estimate 1.65. a beat there as well. holding up

i am nejra cehic.

. ♪ nejra: --anna: welcome back. the net -- minutes into the european session. ftse is up.weakness in the auto sector, down there down 2.8% on the back of the profit warning. fallout not quite so extreme. top stock stories, dani burger joins us. dani: some positivity. big movers to the downside. a lot of drama. this is a company struggling to pay off debts. rescue.ion pound thomas cook says the talks are in advance stages and will keep them liquid through the winter to allow them to trade. earnings, out with missing estimates from 5%. they say they will have massive restructuring. investors don't like those numbers, shares down more than 5%. we learn more about this story. we're looking for pricing on their asian ipo. we first got the reuters report considering they were reporting, bloomberg reporting they were reporting ipo. they were reporting without cornerstone investors. another hurdle there. anna: they pay trigger, tech about -- big picture, the fed talking about the cuts. here's what he and his colleagues had to say about easing. >> central banks around the world are

nejra: bloomberg learns that deutsche's u.s.ty and rate divisions. you investors get set for today's job number. and a slowdown at samsung. operating income plunges at the world's biggest mobile phone and chipmaker. welcome to "bloomberg: surveillance." let's get a check on