in today's battle, nejra cehic going head to head with my coanchor matt miller. nejra, how are you? into an argument of whether or not we will see the longest bull market in history for the s&p 500. that's a question on everyone's mind and we are focused on it. lowerutures pointing today on the political news overnight. this is a great chart highlighted by allen higgins. bit of a contrary indicator. it looks at the skew index. you are seeing a lot of bearish inference. if this chart does show the bull market is really feeling unloved, investors paying up for crash protection. perhaps it says this bull market has longer to run. i was going to argue about this being the longest bull market on record. it obviously is, a lot of people are saying maybe 1990 doesn't count as a bear market because but if you 19.9% lived through it you know that it was a bear market. a lot of people are worried if march of 2009 was the bottom, and clearly it was. if you are invested in march 2009, you are in excited person. change on my chart. they write is using technical indicators to show the bearish wan

i am tom and nejra cehic and for francine lacqua. about south africa. it is about e.u. banking, isn't it? nejra: that is right. you have got certain banks which have fallen in the session. by the ecbighlighted as having exposure and getting hit. that is one angle. aboutis so much to talk and the question is, can turkey do anything to stem the route in the lira. tom: let's get a turkey update. >> turkey is taking steps to talk -- to stop the slide in the lira. the central bank moved to improve liquidity by lowering the amount commercial lenders must park at the regulator. it is easing rules of how central banks manage liquidity. there was no mention of higher interest rates and the lira resumed falling. russia is looking to protect its economy from new u.s. sanctions. the deputy prime minister said russia will reduce reliance on the dollar. the new sanctions have sent the ruble to a two-year low. the leaders of north and south korea have agreed to hold their third summit of the year. there is no date. the two sides say it will take pl

i am nejra cehic in london.ere is a special market check. gmn, theooking at this biggest price move, this is up more than 1%. greece, qatar, these are under pressure. a lot of the banks have exposure to the turkish markets. lira, up 5.5%, and this rebound in the lira is what we are seeing through the other emerging-market foreign-exchange, like the south africa, and the rupee in india. on the sovereign bonds front, turkey's 30 year prices are rising there, and the yield is coming down 32 basis points. down 30%ira has been over the past month, 20% in the past four days. we want to look at where the crisis will be, making its way into other markets. bloomberg intelligence is looking at who is next, who is most vulnerable. using the countries turkish model, and have flagged high current account deficits, sizable external debt, week governance, and high inflation. in their analysis, they found fragile ones are argentina, colombia, south africa, and mexico. exhibit similar symptoms in terms of weakness to not as extr

i am nejra cehic in london. to one of our top stories, the was president has lashed out at google, facebook, and twitter for what he claims is biased search results giving preference to negative news stories about him. >> google, twitter, facebook are treading on troubled territory. they have to be careful. it's not there to large portions of the population. nejra: joining us now for more on this story is peter. is there any basis in what the u.s. president is annoyed about? peter: it was an unusual series of tweets. he went after google first, accusing the search giant of rigging search results and only surfacing critical news, what he . and notake news. giving room," to conservative news," and not giving room to conservative voices. he accuses the tech giants of getting more space to the critical news. this is during a time when the president sees some of and as very critical. his former campaign manager was convicted of eight felony counts, his personal lawyer pleaded guilty to eight felony counts. it appears

welcome back to bloomberg markets, this is the european open. 21 minutes into the session, we go to nejra cehicc recouping losses, still down .9% after costs rose 7% from a year earlier, outpacing revenue gain. second quarter adjusting revenue a miss for hsbc. it's struggling to produce long-term revenue growth from its long-term bets on asian markets. that is weaker in the session. .7%, -- 8.7% after the u.s. settled trade commission basically said it wants linde and praxiar to sell more before they approve the deal. linde dropped the most since december 2017. 21%, the most in the session. -- afterdoned talks of a number of suitors after that came out. and also after numbers, we see that stock decline really taking a hit. matt: thanks very much for that, nejra cehic. warnings britain could crash out of the european union without a deal escorted over the weekend. the uk's international trade secretary liam fox said the likelihood of a no deal exit was -- >> it was now secure percent now 60%. was tim graf is still with us. of course he blamed the eu. seems like this is a negotiating tactic. how

in london, nejra cehic. nd former global audience, how the ourabeth line -- inform global audience how the elizabeth line is not being built. nejra: personally, i do not think it is going to make a lot of difference for me. a lot of people might be recalibrating their route into work, a delay into 2019. tom: the crossrail gets you to the dorchester? nejra: there are separate crossrail lines. i'm going to have to remind myself what they are. if you want to get to the dorchester, much better to get the underground. is still front and center and john micklethwait's interview with the president where he crushed the wto. with your friday briefing, here is taylor riggs. taylor: that big story today is the interview with president trump. the president is talking about the european union as though it his next trade target. he said the e.u. was as bad as china, just smaller. the president rejected an offer made to eliminate transatlantic auto tariffs. president trump has a warning for the wto in his oval office interv

here's nejra cehic. irst half numbers in pressing, but the price target raised at ehrenberg. impressing so much that is the highest since 2012 in this session. , sage group underperforming one of the worst performers, downgraded to sell at deutsche bank. after internet falling the cfo has resigned. he's to leave in october for a new challenge. he oversaw the ipo of this company a few years ago. the ceo will take on finance duties in october. that's trading to the downside. matt: thanks very much. coming up, we will speak to peter moscovici, the european commissioner for financial affairs. that interview just after half past 11:00. that's one you don't want to admit's -- don't want to miss as all this drama unfolds on the continent and neighboring countries. this is bloomberg. ♪ guy: 23 minutes into the session, let's take a look at where we are in europe. this is the picture around europe. you will zoom in and see something like this. that's the world map zoomed in at europe. you can see germany trading s

let's get the details on stock stories with nejra cehic. 's start with wirecard , a firm that has been among top-performing stocks in europe in 2018. it raised its full-year profit forecast for the second time, some analysts calling it bombastic. it is moving higher 5.5 percent. on the upside, carlsbad -- carlsberg. raising its full-year profit guidance has sales in china have been rising. strong demand for the beer in asia. this stock touched a record high and that the moment, the most since october 2017. down 3.4%. earnings growth will be down this year, cutting its full-year forecast on higher chemical prices and unfair or and see moves. matt: thanks very much. i wanted to quickly mention atlantia still hasn't opened up yet. failed to set has a price for the stock considering the trouble bridgeding the genoa collapse and infrastructure companies like atlantia, which control things like that. we will continue to follow that as investors sell off the bonds and try to do so with the stock. i guess they can't find any buyers. let's get to ano

out the market with nejra cehic. a: good morning, president trump setting the tone for markets in asia today. let's start with equities, we are seeing a mixed picture overall. you can see australia is lower. we have seen some yen strength in the session. at one point, the yen was at an almost two-month high. state funds were said to be supporting the market. take a look at the fx space, we are seeing some weakness in the dollar for a full session. euro, the pound, the aussie all gaining against the dollar. in fixed income, the 10 year yield is tracking higher. a bit of a mixed picture elsewhere. yields are moving higher. higher, cold up by 0.4%. a little more on the fx reaction, i am talking general dollar weakness the euro has been one of the beneficiaries of this. hitting its high since august 9. how much more momentum is there above this at the moment? are seeing that higher for a fifth day against the dollar. finally, looking at emerging-market equities, we're seeing gains in today's session. pe ratio of emerging-

let's get a look at how some of the individual stocks are doing with nejra cehic. a: let's go to glencore first and by the way, if you want to follow the updates on glencore, there is a great tliv blog. shares down 2%, first half adjusted ebit came in at a miss. glencore did post record first-half profit and cut net seems to beat worrying shareholders is that it held fire on any new plans to return money to shareholders or any news on raising the dividend. glencore down. abn amro higher 2.8%. second quarter offering -- a beat. capital was closed to the upper end of the target. some positive news feeding through into the stock and finally, ad on the downside, second-quarter operating profit met estimates but it said sales in the u.s. lag behind the netherlands. the u.s. makes up for two thirds of its revenue, perhaps causing concern even though the company expects u.s. sales to accelerate. matt: we will continue to keep you up-to-date on the stock movers throughout the session. right now, i want to get back to the world of rates. the bank of japan may tolerate a high

let's get to nejra cehic on markets. how are the markets looking? a: a couple of markets closed in asia. we have india and south korea closed. we take a look at jigmn. losses in china. this, after we saw small caps lift the s&p 500 after a few days of losses. the u.s. benchmark is a record high. risk off in the asia section. dollar weakness and a lot of the asian currencies. indian rupee, we talked about that yesterday. some weakness in the south korean won. strong dollar, weakness in other places. the turkish lira gave up some gains we saw yesterday. weakness in the rand too. money moving out of metals. i talked about the dollar, dollar strength means the bloomberg index is at a 14 month high. this is the dollar index of breaking through its october 2017 peak levels. a big part of that is the euro. weakness, we see euro as the dollar strengthens it is one of the reasons feeding into this. we are saying weakness in gold. five months of losses for gold, the longest losing streak. the worst since 2013 as far as losses. look how far below we are the 200

i am nejra cehic in london. here is what we are watching. minding the gap.ow companies are falling short on gender equality. banking on diversity. what is the future for female economists on wall street and global central banks? and lights, camera, action. what more needs to be done in the film world since only 4% of directors are women. let's get around with some of the news we have had about

let's get your mid-cap movers with nejra cehic area -- nejra chain which..a the upside of hit, has already been priced in the hasn't stopped the stock from hitting a high. alamo group also getting higher. hikman pharma has already been priced in but that hasn't stopped the stock from hitting a high. admiral group also on the positive. only, something is making the investors nervous because the stock is lower by 2.7%. something is making the investors nursed is a stock is lower by 2.7%. we are looking at a situation we are watching the quantities market very carefully. were trying to get a handle on how the global trade story and turkey, etc., is affecting this trading story. what is your analysis telling you? >> there are a number of issues. turkey still seems to be a side story. one of sentiment but not flows. trade andu.s. and the tariff tit-for-tat escalate into a full-blown trade war, that's what the market is a waiting to see what unfolds. even in china, the reality that this isn't going away soon is starting to settle. expect any negative change on oi

i am matt miller with nejra cehic in london. tom and francine have the day off. about him recently. sitting on the fence much? [laughter] saying 3%, nowen 5%, but still, two to three years in this bull market, that begs the question -- how good do you think you are at or casting rates if you can go out three years? is 3.5% to 4%, john aboutked to that, and he looked and looked and saw this kind of trade war. we get a resolution to it. it will be harder for yields to push higher, even if they should be higher. matt: you pointed out we got up across that level or close to it around four times in the last year. international investors like a 3% yield. it is juicy, and they get in there when it gets high. nejra: here is kailey leinz in new york. president trump clancy has the upper hand in the trade dispute with china. beijing is not think so. an editorial in in the "global times" newspaper says that china is prepared for a protracted war with the u.s. are working "big-time." there has been a range of medical escalation of the dispute between saudi arabia and canada.

i am nejra cehic in london.ulatory opportunities of financial markets around the world, but first, let's get a roundup

i'm nejra cehic in london.returns" is the show where we delve into the regulatory challenges and opportunities of financial markets around the globe. first,

nejra cehic as your mid-cap movers. this was your stock of the hour, but it is worth highlighting because it is the biggest mover to the downside. pandora, the world's biggest jewelry maker, cutting profit and sales forecast. for thet give details poor outlook. we will get that in the second quarter earnings, but the context is it has had struggles in the u.s. and china. puts thet warning management future in play and the stock is taking a hit, down 17% right now. it has dropped the most since 2011. that is the downside. on the upside, two different companies to jewelry. these are in the industrial space. oerlikon second-quarter earnings beat. effler is an automotive and industrial supply, up 7.6% earlier, a record gain. revenueted first-half and full-year guidance rate for the industrial vision -- division. matt: thank you for that. let's talk about cryptocurrencies. bitcoin is the largest digital currency by market cap. it had a summer of disappointment. july prices touched well over a thousand dollars -- $8,000 befor

i'm nejra cehic in london.nd returns is the show where we delve into the regulatory challenges and opportunities of financial markets around

i am nejra cehic in london. we delve into the regulatory challenges and opportuniesf

i am nejra cehic in london.and returns" is the show where he delve into the regulatory challenges and opportunities of financial markets around the globe. let's get a roundt

nejra: and i am nejra cehic. anna: powell makes his jackson hole they view. don't expect him to go too far from his messaging. the kansas city fed chief favors to more hikes this year. nejra: scott morrison will become australia's sixth prime minister in 11 years. stocks in sydney and the aussie dollar gain. fresh tariffs in view. talks set the stage for further explanation of the trade war. -- escalation of the trade war. good morning, everybody. friday morning, 6:00 in london. let's go to what's on the risk radar. lots to talk about market moves. the asian equity session. no big moves in either direction. nothing achieved from those trade talks between china and the united states. little was expected and fairness as we said many times. china has enacted some of the promised reforms to ownership rules around the financial services sector. we have seen some action. the dollar barely stable, holding onto recent gains. we are waiting for jay powell to speak at jackson hole. there is an added political dimension and flavor to what is going on in wyoming. to flag

nejra cehic on the markets. now for a first word news update from juliette saly., donald trump's longtime lawyer and fixer michael cohen admitted he made illegal campaign contributions at the behest of trump. while the president's name was not mentioned, the crimes he admitted to matched the money cohen paid for stephanie clifford. affair quiet about an she claimed to have had with trump. cohen admitted he took part in a scheme to pay $150,000 to a second woman to keep her story out of the press. a federal jury convicted donald trump's former campaign chairman, paul manafort, of tax and bank fraud, ending a 10th legal drama. he faces eight to 10 years in prison on the tax charges alone. manafort is scheduled for a second trial next month on charges of money laundering, obstruction of justice, and acting as an unregistered foreign agent of ukraine. the verdict has a crucial victory to robert mueller as the president and his allies questioned the legitimacy of his work. this started as russian collusion. this is absolutely nothing to do -- this is a witchhunt and a

nejra cehic in london. president seems to be a little alone in this argument. ussion we had yesterday. big questions over where we go here, also what it means in terms of the first amendment and what is going to happen to these text companies after quite a stark warning from the president. tom: that is one of the stories out of washington. right now, in new york city, here is taylor riggs. taelor bang president trump is optimistic that the u.s. and canada can reach a deal on the north american free trade agreement this week. canada's prime minister says his government is trying to reach an agreement with the u.s., but he says he will not sacrifice the goal of getting the right deal. it is a sign that president trump's trade fight is starting to exacerbate deal of political tensions. the deal accused china of undermining pressures against north korea of giving of weapons. president trump also said it is not helpful that china is providing north korea with money, fuel and fertilizer. teetering nuclear agreement will be at the top of the agenda when the eu's top of

i'm nejra cehic in london.turns" is the show where we delve into the regulatory challenges and opportunities of financial markets around the globe. first, let's get a roundup of this week's news. here's marcus.

for that we go to nejra cehic. s&p closed within record yesterday, after we saw gains overall on the msci asia civic index. the stoxx 600 unchanged. commodity producers are underperforming. bhp billiton providing a drag. the base metal of copper is higher, extending gains from yesterday. the big story is in fx. comments from trump on the fed and also on europe and china in terms of currency manipulation. a weaker dollar story in the session. the bluebird dollar index down for the fourth day with the dollar underperforming against all its -- going above, some say we see momentum to the upside in the euro. matt: now it is time for our battle of the charts. london, i willin go head-to-head with guy johnson . will judge usr from the control room. guy, kick things off. guy: i have done this chart for you, but i think it is the best chart. it talks about what is happening with the pound, up a little bit today. i want to highlight there might be a better entry point. we have seen a significant slashing over the last few m

miller miller here in berlin, alongside guy johnson at our headquarters in london. .e bring in nejra cehic: one of the performers in the stoxx 600 rising the most in august 27, king spam, into dividend. the outlook is encouraging. interesting comments around brexit. the ceo saying they see a lot of chaos at first if there is no brexit deal. shire movingeeing higher, the highest since june, 2017. the fda approving a treatment for hereditary disease that could lead to life-threatening. finally, swedish match, they make smokeless tobacco products. it is down 10%, one of the worst performer needs on the stoxx 600 . -- one of the worst performers on the stoxx 600. guy: thank you very much. president trump is said to have told the italian prime minister that the u.s. is willing to help the country by buying its government bonds. be -- totaly seeks to refinance its debt with the backdrop of ecb normalization. is interesting reaction in the market this morning. we will talk about that in a moment. let's talk to our senior reporter from milan. i am curious, what do you make of the story? italy is c

welcome to "bloomberg markets: rules and returns," i'm nejra cehic in london. is the show where we delve into the

i am nejra cehic in london.he regulatory challenges and opportunities of financial markets around the globe.

i am nejra cehic in london.

i'm nejra cehic in london.show where we delve into the regulatory challenges and opportu o

for that we go to nejra cehic. what's moving? ically, c economy is in talks regarding a potential sale of most of its 10% stake in metro. the investors who are about the become the largest shareholders, onomy,e approached cec meeting a takeover might be near. that's what we are seeing both of these stocks move today. you can see the economy up 4%. i'm looking at and blue in the health care space, one of the worst performers reports that 250,000rman sold shares. whats a little higher than we were looking at in today's price. that share price moving lower on that. guy: thank you very much indeed. up next, italy strikes out at the european union. is the eu budget at risk? what are the indications? that's next. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open. i'm matt miller in berlin. taking a look at the world map, you can see green across the screen. the peninsula gaining .3%. almost twoting about thirds of 1%. the u.k. is closed for a bank holiday. not only do you see no movement in the aisl

but gets nejra cehic. the fact that in they will impose levies, the trade tensions stepping up yet again, we are seeing cautious respond in the asian markets for yet another day, following the s&p 500 really moving close, less than 1% away from its record high. at the moment, it closed at its highest since that january high. the nasdaq not too far away from the record high. you can see the msci asia-pacific index up .25%. a bit of a mixed picture. not sure why the chart has switched. to thean go back previous chart and see what that is showing, we saw a flat performance in japanese equities. australia is up by chinese equities pulling back after we saw a strong performance for those chinese equities yesterday against more than 1% across those markets. yuan.brings me to the according to people familiar are said to have met with some of the biggest lenders to talk about currency stability and discourage them from herd mentality. that is not like we are seeing any big gains. it was actually ever so slightly w

i'm nejra cehic in london.s" is the show where we delve into the regulatory challenges and opportunities of financial markets around the globe.

i am nejra cehic in london.na'sdicators show economy we can for a fourth month as demand from trade partners lost steam. limitary indicators on market sentiment, it highlights the pressure on the government to push through its progrowth policy. still with us is nandini lalita ramakrishnan, global market strategist, jp morgan asset management. we have agricultural bank of china talking income at -- earlier, when we mentioned it, you were not over concerned about deleveraging. you like china at the moment. why? nandini: amongst the em complex, china has that are positioning in terms of vulnerability and current accounts, less external debt to pay to the rest of the world. it is the demographic change that is the long-term picture. a middle-class that wants to spend and is buying goods and services within china's borders and outside china's borders, sharing their wealth across the world. china does stand out as a country with companies that cater to the demand forces rather than using the export led and driven area

let's talk about some of the movers area and nejra cehic is here with some details. 's go back to the breaking story on ryanair reaching an agreement with irish pilots according to the union. our negotiating session. it is seen to likely accelerate the resolution of these european disputes. ryanair over the summer has been weighed down across europe. , it is't as high as 5.2% still up 4.2%, one of the best performers. another year of progress is expected, we got a miss on the first have sales, but the ceo says the first half represents a good solid start. .oday, investors seem to agree on the downside, i am looking at antofagasta. we are seeing minors under pressure. the stoxx 600 is the worst-performing among industry groups. we have been seeing metals selloff in asia and on the london metal exchange. guy: thank you very much. let's focus on europe. we are about to get pmi data out of the eurozone. we are minutes away from the arrival of the french data. we get germany ending which data later on. -- we get germany and english data later on. we are joined on set. very

i am nejra cehic in london.atory opportunities of financial markets around the world, but

this is "bloomberg surveillance and i am nejra cehic in london.e are looking at actors of the new australian government being sworn in as scott morrison will become the country's sixth prime minister in 11 years. we had that news this morning and a news conference from the prime minister designate scott morrison. we are looking at pictures of the australian government being sworn in. win 45-40 in aid closed-door meeting of liberal lawmakers. turnbull,malcolm ahead of an election. outperformedllar on the news. bloomberg's australia managing editor joins us now from sydney. edward, great to have you with us. think you for joining us. what is going to change, if anything, on the economic front from here? unlikely anything substantial will change and prime minister -- underscore morrison. -- under scott morrison. iswas the treasurer, which the equivalent of chancellor. a the choice of morrison, marked continuation of economic policies of the turnbull government and i think that is one of the reasons the dollar, in particular, has retreated some of the

i am nejra cehic. anna: i am anna edwards. "bloomberg daybreak: europe," and today's top stories. he commerce secretaries tariff threats hit chinese assets. the u.s. separates longest weekly loss in quarter of a century. in heray meet macron drive to win over eu leaders. this is mark carney hints at further rate hikes in the face of brexit risks. nejra: we will bring our interview with the cfo at the royal bank of scotland. anna: good morning. this is "bloomberg daybreak: europe." futures look green, but we have rbs numbers to go through. let's go to those. nejra: these numbers are coming out from rbs right now. the end of june ratio coming in at 16.1%, it will come up in the interview we hear in a moment. it is retaining its outlook guidance in 2017 annual result. second quarter coming in at 96 million pounds versus 68 million pounds a year ago. second-quarter operating profit coming in at 613 million pounds. the key thing investors were looking at was to do with the dividend. i asked the cfo about that. we declared today to determine our first dividend. i think it is a great sign

ewen stevenson speaking to nejra cehic.e are minutes from the start of european trading carry up next, stocks we are focusing on including heineken. it looks like it is called higher after the $3 billion deal to buy a stake in china's largest beer maker. we will be doing stocks to watch next. this is bloomberg. the open is 10 minutes away. ♪ matt: welcome back to "bloomberg markets: the european open." i am matt miller in berlin. we are minutes from the open of trading. stocks to watch from around the newsroom. we're looking at rbs. from our equities team, paul jarvis covering heineken and annmarie hordern is looking at fiat chrysler. what do you think about rbs? there has been a maelstrom from the bank because it will be the first dividend after 10 years. they don't know yet in terms of when they will actually pay this because they still have to settle the final agreement with the number of the fine will not change, so the number is that one, but they have to basically get all the paperwork done before they can -- overall,

for he nejra cehic has the morning roundup on these markets.are grappling with this potential renewal. good morning. the resumption of low level trade talks between the u.s. and china not giving a live to the msci asia-pacific index. chinese stocks outperforming on the upside, as you can see on the left. some weaknesseing in asian equities. days.rst time in seven pulling away from that safe haven, the euro trading, the aussie jumping along with the yuan, so reacting more to trade story rather than the employment data. in the fixed income space you have some evidence of risk on because were seeing the junior treasury yield higher. we are steeping a little bit in this session and seeing a bit of a bounceback in commodities, the bloomberg commodity index up .8%. we are still seeing a little bit to emcern when it comes equities. they dropped into a bear market the slide extending today, still some concerns around turkey. also either banks and copper come that brings me to my next chart. the fourth horsemen of the apocalypse you called it. 1% inrebo

i am nejra cehic. anna: i am anna edwards. this is "bloomberg daybreak: europe picked -- europe." president trump threatens to leave the wto if it doesn't treat the u.s. fairly. single worsts the trade deal ever made and if they don't shape up, i will withdraw from the wto. anna: staying positive. the credit suisse ceo says that is for now -- that for now, markets will escape the effects of trade tension. >> or the time being, i remain positive. i think there is potential on trade but it is contained. most of the world economy is still tolerating it. nejra: p.m. currency contagion. the argentine peso slumps further as the central bank raises interest rates to 60%. anna: good morning. this is "bloomberg daybreak: europe." 7:00 in london. fascinating news coming across the bloomberg. this is of an mn day nature in the beverage -- m&a in the beverage space. coca-cola is to buy costa, the business that operates on many u.k. high streets and rivals starbucks.als valued at 5.1 billion u.s. dollars. buy pricese is -- 3.9 billion. excluding accounting affects, this from coca-cola, proposin

nejra cehic, good morning. >> thanks, manus. i have an exciting chart for you. look at what is happening in the equity session in asia. japan pretty much flat. south korea not doing too much. if we can get the g.m.m. chart up. take my terminal. that's what i want to show. on the left you can see the equities. china outperforming by 2.5%. australia a little bit higher and hong kong higher as well. up by 1%. the new zealand dollar hitting a two-year low after some dovish comments on the bank of new zealand. you can see the five-year new zealand deal down five basis points. moving on to look at the 10-year. it has broken out to the downside of this trading range that it has been in since 2017. some commentary on them that is quite good saying the 10-year yield has dropped below that range and now what we might see is that the path actually to that record low of 2.14% could be looking fairly clear in the medium term. something to watch in terms of g-10 rates there. taking a look at dollar-yen. we're flat today. we have seen some strength in the yen in reaction to th

nejra cehic has it for us. >> we have seen some gains in the session only in the msci asia-pacific indexuch of weakness coming through on the nikkei. we are pretty much unchanged on kospi.st be -- p it is a fairly big week. traders are so trying to assess what is going to come of the u.s. china trade talks that are set to resume this week. that is how asian equities are shaping up at the moment. it was with such -- switch the short and take a look at the lira we are so unfocused even with turkish markets closed. you may see bigger swings. volatility in the lira actually hit up record -- hit a record. 64% on monday and it has since come down from that. it has really been pushing that fx volatility generator. there is another great chart in the library showing that. implied volatility in the lira is twice that in the south african rank just to give you some context. the turkish lira pre-much unchanged. some -- we saw -- we saw weakness on friday. the yene dollar-yen, has been acting as a safe haven this month. it is the only major currency that has been gaining is for the month of august.

now we will go over to nejra cehic with live outside the bank of england because we are two minutes awaym mark carney's news conference. we have seen the statement. what are we looking for him to say? for thee looking forward guidance as always. what was surprising about today's decision was not the rate rise. that was fully priced in by margins -- all nine policymakers voted for that rate rise. we did see a little bit of a lift in the market. i think that affects stages a little bit. investors are really not convinced the boe will be able to stay hawkish and have more rates further down the line. one of the big questions mark carney is likely to face is the kind of had to raise today given the expectations. but what is the right decision? and we are going into the huge uncertainty of brexit and a potential downturn. that is a question that would come up. a question as well is this one and done? markets will be looking for guidance as to whether this is one and done and what the forward curve is going to like because the other thing we got today was the first r-star estimate. the markets

bloomberg's nejra cehic spoke with the banks had best the bank -- with the bank's head.to sign an agreement. the that is signed, we have attention to pay our fair 2 pence per share. nejra: could that increase? >> we have a long-term target of 13. not already sitting on a lot of best not only are we sitting on a lot of surplus at the moment, the bank is back to regular earnings. taylor: british posted second-quarter earnings that missed estimates -- british airways posted second-quarter earnings that missed estimates. shares fell the most in five months. says advanced bookings are helpful, particularly on the lucrative north american route. cohen's apartment at goldmans it -- is the latest in her rise. she leads the team that sides were the bank should pursue new areas of business or acquisition. that is your bloomberg business flash. guy, francine? francine: thank you so much. let's get back to italy, the 10 year yield top 3% earlier this morning have a budget meeting between the country's populist leaders in the finance minister. last hour i spoke to the chief executive