that's nick nelson. head of european strategy at ubs. >>> shifting now to global auto sector now looking at mazda recalling 2.3 million cars globally due to issues with diesel engines. japanese auto maker set to recall around 390,000 cars in japan to fix an issue with their rear gates. >>> meantime the collapse of south korea ships has rocked the global trade market. rehabilitation proceedings could start as early as this week, according to south korean judge. a court decision would allow legal actions to prvnt the seizing of ships, however a report suggests ten vessels have been held at a chinese port. >>> ryan air shares falling 1% in yesterday's trading session after the low cost carrier slashed customer forecast. the airline says it expects to fly five million fewer passengers to and from the uk in 2017 than it previously forecasted. you see them recovering some losses. up now almost 1%. >>> shares of commerzbank are still leading higher. reported deutsche bank had considered merger with the bank. de

we have nick nelson, head of european equity strategy at ubs, with us. nick, here we go, the market is reappraising volatility. lael brainard will be the last to speak. the joke we haven't markets -- tony what you make of it. >> we have had a very comfortable over the summer, and post the u.k. vote to leave and some of the other risks we have had, with the italian referendum coming out in november, early december, the spanish elections -- there are a few things in europe and the u.s. that have been in the background, and markets were incredibly calm. we have a view that the fed will be raising rates gradually, starting in december. we think at the end of the year you get a hike, maybe two next year. we think it's a very gradual path, that equities have got so used to the lack of volatility that they just needed a little bit of a kick to get them back into where we think the rate profile is. nejra: nick, we saw the vix volatility just up there. here's a chart showing the futures, betting on volatility in the next three months. they are trading at their hig

nick nelson: what's going on up here is an example of what's right in this country.ace her many horses: fort berthold was never on the map until the oil moved in. judge johnson: gangs have relocated here, organized drug cartels. fahtima finnley: everything that you could possibly think of negative, it's here because of the oil. this is the make-or-break moment in the history of our tribe. you learn as you go, and if you don't, it'll run right over you. this is the new america-- black, brown, asian, lgbt, immigrants. the country is going through a major demographic shift, and the numbers show it. the face of the u.s. has changed. christina ibanez: we're american. we care about the same things. but yet we also want to preserve our culture. i just see it destroying what we had planned to happen here. hinojosa: by 2043, we will be a majority non-white nation.

i notice when people are following me nick nelson, or madison mcqueen started his drag career at his college in south dakota six years ago. it was like my first night out, i looked like like a complete trainwreck. and i went into one of the bars and one of the like, like the very very straight bars in my college town, got turned down. which is totally cool, walked out and have drinks thrown at me. i think that i was wearing three wigs at the time. so it didn't hurt too bad. some drag queens struggle getting acceptance from their friends and family. i can't do drag at home. is a thing so i have to bring all my stuff. i have to go out and either get ready at someone's house or get ready at the venue. some people at the place i live at just don't understand it or it scares them physically. there's just something about breaking gender norms that people don't get or makes people uncomfortable. people like seeing things categorized and put into boxes instead of being put into seven layers of tights and then getting into high heels. my mother's biggest issue is that she thought that i was g

nelson. >> brandon you are in there and we talked a little in the last segment about nick perry. it is only fair to hear from him. he has become a playmaker on defense. >> he really has. he was a guy that really set the tone for what this defense was doing. room he showed how excited he is to be playing as well as he is right now. >> know from that standpoint everybody needs a little to get their help togeth but we will come back stronger. >> a lot of smiles. >> it could be. i would have to look at a couple of little films to see what else is good out there but i had a great game and i'm just looking forward to have another great >> and audible. >> awesome. i get little family bragging rights when i leave out of here. my family is waiting on me and i can kind of talk a little bit. >> a lot of those guys at that were playing her guys that were playing in preseason games when you are taking the time off in and they got often they got that experience. mike's been telling us all along you be playing when the games are important and here we are in today. >> yes that's important. that

nick on "the simpsons." >> he's the second runner up in the 2010 willy nelson look-alike contest. >> he looks like willie? >> wow. >> the report he put out, and i think -- the report he put out on trump was almost an insult to the intelligence of voters in the way he described trump. in the history of the presidential history -- >> we have the thing that we are concerned about, i am concerned about donald trump's relationship with vladimir putin. there is something deep there, you know. i would not be surprised if -- >> no, no, joe. i would be very worried about that, if he had not also said what do you think happens when you put men and women together? my god! he's creepy. he's creepy. like people -- like people get ra raped when you put men and women together. think about that statement, everybody. talk to me. help me out here. >> it's bad, and it's back to the basket, it's just really a big -- >> back to the basket of deplorables. >> what are you doing? le. you're making money now, are you investing? well, i've been doing some research. let me introduce you to our broker. how much does he charge? i don