p. dollars and i yeah i called him a quite unpleasant means and the article is the only time we've kind of ever really been rude on the website rather than on twitter account which i regard as a sort of separate entity i don't really ring correct to such and i think it was absolutely fair comment and i don't particularly feel bad about the language either because for the reasons i said earlier on the subject of the a common case it doesn't deal famously one case you brought together for defamation is accepted by the. judge that. you had been defeated because you're not total fool that but nonetheless she won the case on the globe is a fair comment it was a da thing to do for you controversial blogger someone who least. pretty strong on the fence of towns to take a politician to task for me my argued doing something similar to you i won't or would firmly disagree that something somewhere i mean if you don't bill had written an article saying she thought i was a horrible human being on i would be perfectly entitled to hold up any and i have no beef with that if you again you'll know bette

back the choice of the trumpet ministration and made to revoke prized unprofitable g s p stands for 5000000000 dollars in indian imports may have tipped mr modi to retaliate and joining us live in the studio to give us his expert insight into the g 20 and all the issues on and off.

back the choice of the trumpet ministration and made to revoke prized unprofitable g s p status for 5000000000 dollars in indian imports may have tipped mr modi to retaliate. and joining us live in the studio to give us his expert insight into the g 20 and all the issues on and off the agenda that are moving the markets is senior asia pacific specialist at the institute for china american studies welcome back 1st of all countries up on what's happening in sort of the g. 20 pre-game sort of speak what should we know about what's happened thus far and what should we be watching for want to really get going. we should be watching for 3 things in particular 1st it is the 3. meeting and well they can put the create conflict back on the rails and try to reach for a solution. secondly we should be looking to regard to whether our. truck we should be looking at the meetings trump is going to have with other major leaders particularly vladimir putin i mean they never get to sit down these are the 5 members 2 of the foremost powers on your bill never talk at the heads of state level so that's an important meeti

mario says that is not the case but yesterday, jerome p weakened the dollar against the euro, as well going to see central banks racing to the bottom now? we both want to read mario d's twitter feed and jerome p's twitter feed. the euro weakened a couple of days ago and bounced right back after the fed announcement. tokets are trying to adjust the new scenario -- not just individually across the ecb and the fed, but the relative adjustment between the two markets. think the eurozone, unfortunately, is back where it was before because the fed is now relatively in an easing camp. matt: christopher smart, head of baring's investment institute will stay with us. that fed rate cuts are on the table, derivative traders are basking in the glory of dovish bets that paid off. rather than take profits, they are doubling down. dani burger. >> i think some of the most interesting traits have taken place around the fed or what is happening in volatility markets that have rushed to adjust positions. powell yesterday, only giving those bets fuel. i want to show you what a volatility trade is doing a

s&p futures 1% away from the record high. euro-dollar up a little bit. it is a broadly softer dollars story as the session develops. someone till the fx market that the fed might cut. 10 year yield up to basis points after a big surge in buying yesterday. now negative yielding debt across the world. david: now it is time for bloomberg first take. we are joined by luke kawa and gina martin adams. luke, first i will start off with where the markets are and what the fed is likely to do. some people think it is going to be a 25 basis point cut in july, not june. some people think 50 basis points. but people believe it is going to happen in july. it is pretty obvious whether you are looking at net positioning in the future, looking at the options market. that is a very stretched part of the market, and it is going to be really hard to thread the needle where there isn't a big reaction in the bond market today. think what we saw earlier this month is that when jerome powell speaks, everyone can find a way to read into it whatever they want. when he didn't say

we could be on the back foot today judging by s&p futures. the dollar continues weakness we have seen over the past few days. we are seeing green on the screen for equities at fx today. the question is, are they all heading the panic button? blackstone is doubling down on the future of online shopping. they have made a purchase, rather sizable. u.s. ledger sticks assets, and the deal -- u.s. logistics assets paying $18.7 billion. to see you this morning. this is a monster deal. this is a bet on the future by blackstone. >> exactly. withe deal that we woke up this morning. private equities are super hungry for deals this year. of capital thes past few years and now they have to deploy that cash. competitivea very mood. this is a massive deal. it shows their hunger for real estate, for logistics. two sectors that have been , shopping trends change all over the world. one of the biggest deals we have seen so far this year across sectors. blackstone, which always has been very aggressive in terms of , wins thes competitive bidding war this time around. than

in the markets, sb futures pause until the g20 -- s&p futures pause until the g20. the dollar hit a three-month low yesterday. 2%.ds did dip below now we are back about that. crude a little softer. it feels like a teeny bit of a risk off on the margins, but nothing extreme. david: a lot to digest. go to the morning brief. at 8:30 eastern, we get u.s. new-home sales data for may. throughout the day, we hear from a range of said speakers, starting with jay powell, williams, bostic, and parkland. bullards then-president will be on bloomberg radio and a conversation with kathleen hays. the best treasury will be selling $4 billion in two-year notes. at the bell, we will get fedex earnings. let's turn to bloomberg first take. we are joined by mark cudmore and romaine bostick. there have been quite a few develop its on iran overnight. yesterday, president trump saying we would go right up to the ayatollah khamenei. futilenians said "the sanctions against the iranian leader and chief diplomat mean the permanent closure of the diplomatic path of the government of the united states." th

the indices lower, primarily the nasdaq but also the s&p 500 and the dow. the dollarby .4%. you can see as well past 97. the euro in the british pound trading lower versus the dollar. crude up another $.39, trading well above $52. you talk about the gold miners. gold up .7%. if you look at the sox you will see we are down 2.6%. 29 of the 30 companies in the philadelphia semiconductor index are lower, broadcom the worst performer. newmont mining and some of the other gold miners are up 1.6%. you mentioned that gold miners thetrying to billy -- bouey market. facebook doing well on the news that it is unveiling its cryptocurrency next week. 76%, shef the day, up , the online pet goods retailer. share andced at $22 a then it moved higher and higher as we were waiting for the first trade. it opened around the $35 mark and we are trading at $38.34 right now. guy: let's get back to the debate on monetary policy as president trump sharply criticizes the fed chair jerome powell. he made the comments in an interview with george stephanopoulos. >> if we had a different person in

the white lines dollar-yen, the blue line is the s&p 500. , yoully, in normal markets get these things same time, these two lines reasonably correlated in terms of the tracking. what on earth is going on? ,ou have the yen appreciating or the dollar going down rapidly, and then you have the s&p going in opposite direction. something does not compute. i wonder what will resolve it? i suspect the next few days may produce an answer. vonnie: a great chart and i'm glad you brought it to my attention. now i feel like mike is the underdog because you said that at the beginning. i'm a sucker for underdogs. michael regan, you are the winner. power,"p, "balance of with david westin. ♪ david: from bloomberg world headquarters in new york, i'm david westin. welcome to "balance of power," where the world of politics meets the world of business. today on a special edition of balance of power, we will hear from k bailey hutchinson, u.s. ambassador nato, and fed president -- and st. louis fed president james bullard. president trump yesterday signed an executive order he said would bring down the cost

p. yesterday you had a big move on the two-year yield, a big move on the dollar index, but not a huge move to open at a record high, up by about 1% in premarket. to me it will be about what is leading the way. yesterday, utilities, health care, and real estate. if you have yields of the lowest level since 2015, you will look defensive'snd -- have been leading the s&p rally for the last few weeks. if the defensive's are leading the rally, they are getting quite expensive. what does that mean for the other rotation? david: why doesn't it mean the equity market is listening to the bond market? the bond market is saying we do not see a lot of growth. you're going for more defensive stocks? alix: but then why would you happen s&p at a record high? david: because a lot of stocks are defensive? i don't know. alix: have we seen that kind of same movement in the equity market we have seen in the bond market? the bond market is telling you you will not have any growth. should you have more optimism in the back of the curve in particular not sitting at 2%? our economic indicators that bad or should i

s&p a little change right now, 2.10%.r yield at $ dollar currently weaker, and of course looking at nymex, this is to the low $50, and that is exactly where we find ourselves right now. let's go to michael mckee. michael: the fed does not cut rates, but they come close. jim bullock of st. louis voted to cut today. committee, twohe rate cuts, 50 basis point is appropriate by the end of next year. uncertainties about the outlook have increased the mother statement says. "in light of these uncertainties in muted inflation pressures, the committee will closely monitor the applications of incoming economic outlook and will act as appropriate to sustain the expansion." while there grows forecast is not -- while their

s&p futures up by about 12 points, euro-dollar flat. you are buying stocks, selling bonds, but only in the u.s.. the move not really seeming to freak anybody out quite yet. we had a huge rally in bonds last week. are we reversing now in crude? up 7/10 of 1%. david: in the morning brief, 8:15 this morning, uber's ceo is speaking washington, d.c. at 8:30, u.s. ppi numbers for may. at 1:00 this afternoon, the u.s. treasury is selling $100 billion in three-year notes. tesla'sthis evening, shareholder meeting gets underway in california. that is all coming up today. for now we turn to bloomberg first take. we are joined by gina martin adams and romaine bostick. romaine, let's start with china. president trump on the lawn yesterday, saying tariffs could go higher than 25% on $300 billion of chinese goods. tse've never gotten ten cen from china, and now we are making money from china." we definitely saw with regards to the mexico potential tariffs, the market is still very much into with what is going on with regards to trade and being able to

taking a look at the mood in sydney, the s&p 200 gaining ground. dollarwe see traders price in a 70% chance of an rba rate cut in july. westpac seeing another bout of easing in august. we do have the index 50 gaining while the kiwi dollar is under pressure. very much.s let's check in on the first word news with ed ludlow. at: president trump is downplaying iran's claimed attack on a navy thrown in the gulf, saying a single person acting alone may have been responsible for the strike. tehran says the aircraft was in iranian airspace and the shooting is intended to send a clear message to washington. the drum was in international waters and the president thinks the shooting was a mistake. >> i find it hard to believe it was intentional. i think it could've been somebody who was loose and stupid. thatll be able to report and you will understand exactly what happened. it was a very foolish move. paul: congress -- sophie: congress has issued a rare reputed trump, blocking to -- voting to block on trails -- sales to saudi arabia. the resolution passed but the n

struggling we saw this once again today, especially with the dow gained 102 points, s&p advanced 0.41% nasdaq up .57% dollar general, walmart, costco and target low end. well, as well as rh, the former restoration hardware and lululemon on the high end. some call it lululemon and they're wrong. let's unpack these dollar general and dollar tree are bargain basement plays that indicator to the vast majority of americans who are trying to make ends meet these companies are extraordinarily good at what they do. this morning oppenheimer argued the chain has some of the best revenue growth momentum around, at a time when interest rates are slowing, meaning investors think the economy is getting weaker well, guess what this is a defensive holding. when retail's not so hot right now, dollar gen. dollar tree has a similar story, the acquisition of family dollar which is finally starting to pay off. oh, man! it's having a big impact on the numbers. this was no easy feat. i couldn't even bear to buy family dollar. i would much way go all the way out of the way to a more enticing dollar tree i may not be the quintessen

the most important is when you look at the amount of dollar value that trades per day. on the s&p, futures trade 10 times that combined the top three etf's. scarlet: it goes to liquidity. you mentioned there are futures for other indexes. the dow, the nasdaq 100, russell 2000. eric is utterly bewildered why people are using the dow in any way, because it is antiquated, it has 30 members, and bewilderingly, it is price weighted. what is the function? tim: it is interesting that they all offer different ways to trade the global equity index landscape. the dow, even though it may have lost its luster, it has been around for over 130 years. especially when you look outside the u.s., it remains a popular bellwether benchmark. particularly in asia. eric: give us the report on the futures for bitcoin. cme looks like they are taking off, de-list theirs. what are the odds this could be the way forward for a bitcoin etf? tim: it is tough to say what will be the precipitating factor that gets a bitcoin etf approved in the u.s. it has been a record month for bitcoin futures at cme. we are tra

. >> could he anonymously give a billion dollars to said super p pac? anonymously give it to the super pac unless he did it through another entity. he could give to a group that doesn't have to disclose donors. not only could he do that, but the russian government could do that. anyone can and that money would not be disclosed. >> all right. it's not just the president has been raising money, but spending it, too. the facebook part of this is fascinating. this is a "new york times" graphic. this is trump's spending versed all of the candidates until recently. it was more than all of the democratic candidates combined and it's 2-1 when you look at the field versus how much he is spending. this is clearly a focus. >> yes and what's notable about the president's campaign spending on facebook is as he spends monofacebook ey on faceb. he is able to fine tune and expanding the audience that is seeing his ads. the big difference between the trump campaign's facebook advertising right now and the democrats' facebook advertising right now is that democrats are b

dollar risk. you would think that would benefit the s&p 500, but as abigail said, it has been a mid range bound indexll get that risk on appetite back. romaine: eddie, i want to bring you back in and talk about what we are seeing in the rates department. particular some expectations we have here for the economy. seeing inversion on that 10 year part of the yield curve. steepness on other parts. what do you make of that? particularly in the bond market, people are trying to figure out where the economy is headed. a lot of what is going on is simply positioning and where rates are in the u.s. versus the rest of the world. in germany, you had an all-time points on theasis yield. $13 rates are negative for trillion of assets around the world, 2% doesn't look half bad. matters is the economy and the fed policy, so i think the fed will cut in july. i think we will continue to get decent news on the economy. i do expect a steepening of the curve. caroline: what is interesting is the performance of certain ipos has been lackluster, but today we had another to biotech ipos come to market that both exceeded mo

. >> the p of the bill is directed to make sure that american tax dollars are not used to support businessesby the chinese government. >> at the factory, the company says it's creating u.s. jobs, hiring unionized workeruyg u.s. materials and even paying u.s. tariffs, and it says that passenge have nothing to fear. >> safety, number one. functionality, butafety is most important. >> for "nightly business report" i'm ylanmu springfield, massachusetts. >> the dow rose to 25, 332. the nasdaq wiped out yesterday's loss and the s&p 500 added 58. >> and that is the nightly business report forilonight. i'm griffith. we do thank you for watching and we'd like it remind you that this is the time of year your public television station seeks your support. >> i'm sue herera. we thank you very much for that support. we'll see you torrow. ♪ ♪ woman: this is "bbc world news america. is made possible by... the freeman foundation; by judy and peter blum-kovler foundation, pursuing solutions for america's neglected needs; and by contributions to this pbs station from viewers like you. thank you. jane: this is

s&p futures pretty much flat, kind of rain bound -- kind of range bound. dollar up by 2/10. unless you are italy. my head scratcher is oil, down by 1% this bite out of the amazing headlines we are seeing .ut of iran david: more about demand maybe then about supply. time now for the morning brief. today the paris air show billions -- air show begins. in centraltings portugal get underway today as well, with mario draghi at the head of the central bank. wednesday the federal reserve announces the latest fomc decision, and chair powell will host a news conference. thursday,tw central banks announce -- on thursday, two more central banks announced their decisions at the boj and boe. on friday, u.s. pmi's and existing home sales. trade, intel is rethinking. joining us with a broader look at semiconductors is bloomberg's taylor riggs. taylor: like you said, ever since may 5, the semiconductors have really underperformed the broader market. that was a reversal from what we saw the first part of the year. the stoxx index through april was up as much as 35% at one point. in may, it a

the most important is when you look at the amount of dollar value that trades per day on the s&p 500,es trade 10 times that combined the top three etf's. scarlet: it goes to liquidity. you mentioned there are futures for other indexes. the dow, the nasdaq 100, russell 2000. eric is utterly bewildered why people are using the dow in any way, because it is antiquated, it has 30 members, and bewilderingly, it is price weighted. what is the function here? tim: it is interesting that they all offer different ways to trade the global equity index landscape. the dow, even though it may have lost its luster, it has been around for over 130 years. it remains popular with investors especially when you , look outside the u.s., it remains a popular bellwether benchmark. particularly in asia. eric: give us the report on the futures for bitcoin. cme looks like they are taking off. cboe decided to de-list theirs. what are the odds this could be the way forward for a bitcoin etf? tim: it is tough to say what will be the precipitating factor that finally gets a bitcoin etf approved in the u.s. it has

the future expansion of the world cup from $32.00 to $48.00 teams and p. 5 every use of those 2 a record $6400000000.00 u.s. dollars now stand. by to talk more about johnny in front you know his reelection i'm joined now by tom good night from sports says welcome tom went on the team i was going to need to kiss on the idea was that he would read fifo off corruption has he done that well i mean. sepp blatter left the institution in a lot of disrepute there were f.b.i. investigates as you know swimming around that was a real time of disarray for free for. unlucky say infantino came in saying he was going to clean up the game get rid of corruption increase transparency obviously the elections in which only one candidate stands don't tend to be the most transparent. the some one time jani who is the president of concord coffee association of north american football associations was also exactly that question yesterday whether or not he thought it might not have been a bit healthier for somebody to contest the election against in fancy knots his answer. was not the thief as an institution it's not good he says to have e

a arch rmp p if they had to put a dollar figure on it that family caregivers provide 47 billion a year in uncompensated here. respite care services provide relief for these family caregivers and one of the most requested services. if a caregiver can't get a break and look out for their well-being they are going to have a hard time providing the very best care for their loved ones in need. access to respite care improves health and well-being and avoid e delay for admission to institutional settings resulting in savings to the health care system and taxpayers. the only federal effort that provides respite care services. the life care respite program is e only open door affected by families. other fee federal programs are focused on children or seniors. 37 states have used grants to coordinate and streamline respite care services and provide direct services to help families plan for respite care. providing additional dollars will allow the administration for community living to award additional grants and allow existing grantees to reach more families. by investing in this program we sup

thank you ken and pam and next at 9 o'clock p g any agrees to pay one. >>billion dollarsvastating wildfires. why residents will not see any of that settlement money also redwood city cab driver found dead on skyline boulevard last night to what we are learning about what happened and a string of shootings on bay area freeways and just days some of them deadly. what investigators are saying tonight, keep it here the news at 9. coming up next. >>now a 9 today, 14 public entities in california have accepted a mediator's proposal for pga to pay out a billion dollars to resolve a number of public fire claims 415 million of that will likely go to 9 cities and counties in the bay area. good evening. i'm ken wayne and i'm katharine grand and vicki have the night off this agreement has to be approved by bankruptcy. >>a bankruptcy court before it's awarded it will not go to victims. it will go up towards city and county costs only money that would have been picked up by taxpayers conference chair stone following the story for us tonight joins us live in santa rosa jr what's the ini

. >> a big blow for the biden caa p backers a lot of supporters, and he's expected to take tens of thousands of dollars from this fundraiser in san francisco today. san francisco attorney was prepared to raise a lot of money for joe biden. >> admired his great record in the u.s. senate, as vice president to obama.>> he previously raised hundreds of thousands of dollars for obama. but he told the biden camp last week that he is withdrawing his support for the toppling campaign. >> i just was troubled by his phrasing the work he did with segregationists, and i also was troubled by what was his flip- flop involving abortion. >> some people criticized biden for not taking a stance sooner against the high amendment which bars federal funding for most abortions. also, biden had talked about his work with segregationists, to prove his ability to reach across the isle. senator kamala harris when after that in last night's primary debate. >> it was hurtful to hear you talk about the reputations of two united states senators who built their reputations and career on segregation of race in this country.>> i did n

i've got an s&p going up and trading near record highs, and a dollar going down against again. one tells me -- against the yen. one tells me go, the other tells me i should be worried. can you explain that? david: yes, i wrote an article this week called "schrodinger's market," because it is almost like schrodinger's cat, both alive and dead. there's huge liquidity around the world pouring into financial assets. that is making stocks and bonds expensive. but you're right, there is a certain alternative reality about the way the world is working right now. i think when we get second quarter gdp and get a few more payroll employment reports, we will figure out what the deal is on trade for the next 18 months through the presidential election. i think the reality will have to coalesce around one. i suspect it will be slower growth than the stock market expects. guy: i know you've said that the fed action is unlikely to deliver the outcome that they want, but from a stockmarket point of view, if we don't get a good deal this weekend, does the fed rescue the market? the fed maynk te

to make a deal they want to make a deal much more than i do we'll see what p has look, i don't mind taking in billions of dollars. you know the 3.2 we had in the first quarter, we picked up the one point. just remember they're charging us tariffs. >> the u.s. president also has spoke on it. he touted the possibility that u.s. regulators could also impose fines on big american firms. >> is this something that's forming a bit of consensus in congress >> there seems to be growing pressure that these big companies need to be reigned in. growing pressure on these companies from all fronts, from lawmakers, the ftc, this doj, and now seemingly president trump. in an interview with president trump, here's what president trump said about reigning in those companies with fines. >> the person at the european union that is in charge of taxation hates the united states more than any person anywhere in the world. i really believe that's true every week you see them going after facebook and apple and all of these companies that are -- you know, they're great companies, but there's something going on i will say the european uni

clinics that perform abortions or refer patience to them and still have to get your tax dollars in the form of family pt leland vittert is here. good evening. >> more than devastating in some cases, shannon. it's hard to underestimate how significant this is. this ruling allows the trump administration to turn off the family planning money any medical facility that not only provides abortions but any facility that provides abortion counseling or abortion referral referrals. title x is the governments family planning program and a lot of the $260 million a year goes to planned parenthood, which also trump administration's policy a gag rule. here is their tweet, "a federal court just allowed the title x gag rule to go into effect. this is a devastating blow to the 4 million patience who obtain birth control, cancer screenings, and other essential care through title x." now president trump made the defending planned parenthood a cornerstone of his 2016 campaign. this is seen by many as an important first step in that fight. earlier this week, announcing his reelection bid, the president made it clear, abo

p. gold, all moving to the downside. quite a move for the dollar and in oil taking place. technical factors as well as this one. talking on the radio earlier, we were saying that's generally the case and we don't aink this is the beginning of bull run or a comeback for oil. let's have a look at the general well.function here as this is the position right now. this is telling you what's there.ing out there we go. a bit of a rough time. hang seng about the in a second. let's take a look at what else is going on. overs in about 20 minutes on that one as well and just taking a look at these currencies, hich we appreciate the dollar, as we do have dollar weakness. let's get to the hang seng. it's beating all the world's major equity gauges this week barish thing.this this isn't necessarily a death ross, it's a 50 day moving average, rather than the hundred day one. 200 day line but quite often does proceed market declines in the past and investors arguably may be about too optimistic next week's meeting between xi donald trump. there could be an overreaction to the current posi

dollar on the dovish tone of the fed. worstllar on paper, the day since january. the s&p, it is a strong week.op on banks, we had the tuesday as the ecb went somewhat of issue. then a little bit of stalling around even in, then we have a move up. it may suggest we could see another gain if not on friday, into next week. on the bloomberg there is reason to think that the gains could continue. we looked at a range of flip saws on trade uncertainty last january and a round of fed profit outlook into september. then trade fears coming back. perhaps too much of a hawkish fed. the fed becomes more dovish. a bear pattern has more, suggesting we could see the s&p 500 trade to the area met around 30.50. to theday we see gainers upside. oracle putting up a good quarter. the outlook from microsoft hitting an all-time high ahead which we aregpo covering. the downside financial is being dragged as the 10 year yield is below 2%. investors worry that their lending activity could be hurt by falling yields if that continues. guy: thank you. central banks talking about cutting right now. some are still hiking a

the dollar fell against most major peers. the s&p 500 is near a record. xi jinping heads for historic talks in north korea. beijing says its influence on the divided korean peninsula remains significant. kathleen: we are starting on the bond market because that is where we saw the action, really saw the reaction to the federal reserve's decidedly dovish turn. side of your screen, you can see the big move down. we had the 12 basis point drop in yields. 1.74%. , jim bullard,ove president of the st. louis that, saying the fed should cut right now, today, really putting some fire into treasuries. as for stocks, your all-time high for the s&p 500, these are not big gains, but these are gains, nonetheless and we have seen s&p futures pointing to a .it of a decline if you look at fed funds futures, that that is they could definitely do it as early as the july meeting. how about this playing out in asian markets. the stock rally brother looks at the rally continuing in to follow the fed's dovish stance. banks of japan, taiwan, and indonesia are seen holding stead

google plans in the help of have plans to help in the fight the housing crisis and p g in a breeze to pay a billion dollars to cover losses for devastating wildfires. but we'll tell you how that money will impact communities right here in the bay area. and we're looking at temperatures on the cool side this morning, some 50's and 60's out there get outside migraine sufferer and i'm an emt. when i get a migraine at work, it's debilitating. if i call out with a migraine, that's one less ambulance to serve a community. i just don't want to let these people down. excedrin migraine. relief that works as hard as you do. >>we're back it is 6.15 we've got john here at the quarter hour talking about it's going to seeing nice day us hopefully so the fog is just hanging around carla fog being a little stubborn tomorrow. >>that stubborn this i think it was tacos, yesterday's can just like oh that their front yesterday and i it's a last night. talk about is related to what the warriors it a threat even tony, was very disappointing. i know too much disappointing about your weather that's going to come through for us if

p last week in 2019. not what you would have expected. you are seeing the euro dollarr g10 dollars story, you had sort of stronger with a selloff in the bond market and i wonder how much of that changes the position from last week, despite the fact of weaker imports from china. it is interesting that they didn't send the shocks to the system you might have thought. it was moreered if backwards and forwards with the old news that people are looking at. david: doing what it takes, exactly, thanks so much. time for your morning brief looking at the week ahead, tomorrow we get u.s. ppi numbers a speech at the economic club of washington, d.c., wednesday consumer price index numbers are out and shinzo abe travels to to run as part of it national effort to salvage the iran nuclear deal with thursday numbers at the end of the day and on friday it is the turn of the u.s. to release industrial production numbers. ofkets breathing a sigh relief on friday when word came that the united states had resolved issues with mexico for the time being and as a result, tariffs would not go

s&p futures are down. the hong kong dollar is up by about the most in seven months.short the currency, so that is popping up the currency as well. crude also one of the first victims of the risk off mode, down by almost 3%. that is also going to be in inflation expectation story as we head into the cpi number coming. david: before that, we want to stay with hong kong for a moment. we welcome on the phone paul forerman, elected counselor one of the districts in hong kong. thank you for joining us. give us a sense of what is going on in hong kong even as we speak. well, there is transport chaos, stations are closed, and it is bad weather, too. there's a lot of very sad people. everyone was out on a protest on there is chaos with the police shooting directly at its own people. david: to be clear, it was not shooting regular emanation, right -- regular ammunition, right? there were beanbags? paul: beanbags, rubber bullets. exactly. david: the protesters, as i understand it, want the extradition legislation removed. it doesn't appear that carrie lam, the leader of hong ko

dollar is better for the u.s. economy because it is better for the global economy. which way should these officials be pushing or pulling? kokou: clearly if you look at the s&pues are driven by exports so therefore, a weaker dollar would be good for the exporting parts of the large-cap in the u.s. also over the last several years, the tightening cycle in the u.s. has caused the dollar to strengthen. forward, the dollar is clearly stronger than it has been over the past five to seven years. -- itsre, it is adjusted adjustment relative to other currencies would not be surprising. the dollar oneh, of the worst performing of the g10 currencies. interesting ahead of the g20 meeting and the prominence of currency conversation. if you want to get involved in our market live question of the day, ib+ tv to reach out to the team. we will check on individual movers in a moment. deutsche bank is one of the biggest gainers, up 3.3%. kokou agbo-bloua will stay with us. we really you this shot of the deutsche bank share price, up 3.2% as it gets a pass from the fed on the stock price. that and more. this is bloomberg. ♪ matt: welcome back to the european open. just 12

p futures. currency not doing much. the dollareld dropping as we get a slew of disappointing data out of the united states. let's begin with a big issue. markets betting u.s. and china will push off a trade deal but avoiding adding new tariffs. >> the market is anticipating the leaders will agree to carry

which will create it 1st in january with several 1000000 dollars to allow transactions to begin diplomats from the ethiopia long with the remaining p 5 plus one partners china russia and iran are meeting with their counterparts in geneva on friday in an increasingly desperate effort to save the international nuclear agreement here to catch up on the markets reactions to a very eventful week before the g. 20 summit has even officially started as todd bubba horowitz of the trading. but 1st of all let's just catch up were global stock markets right now in the wake of what we've been calling sort of the pre-game to the g. 20 what else besides that is moving them this week. well i think the markets are you know again i think the markets are already priced in good news i think they're already priced in not a deal yet because obviously there will be a deal as we can but they've already priced in that they're going to get along they're not praising him that the president could walk away that there won't be a deal they've inflated all the options they've put these markets higher i think the markets are priced for action and any disappointme

this is from jim paulsen today very, very long-term chart this is the correlation of the dollar index and the s&pgether or falling together below zero, inversely correlated and the case since around 2000 or 2001. what does it suggest well, i guess jim hiypothesizes when growth is strong and the fear is to overheat or the economy overheat and inflation is the risk and the fed of course will have to come in to quash that inflation then when the dollar goes up it kind of restrains inflation and encourages stock investors and the opposite here. when growth is low, when the dollar is high, could be more deflationary and the relationship is kind of flat lined in the past few years and not been particularly strong one way or the other still negative and not getting more negative right now. in other words, the stock market we weres not more sensitive to u.s. dollar moves and both range bound for a while at the high levels. >> and the range bound is negative 0.3 to 0.2. not like it's 1 for 1. >> never fully determinetive of what's going on. it's a general drift it is not really a strong catalyst. >> gener

p. treasury yields lower, now they are unchanged on the 10 year. 10 year yield at 2.10 in the dollar finally1.1232. we begin with the big issue, taking stock of all of the economic data ahead of next week spent decision. >> a strong sense we would get a rate cut. >> the market is expecting a rate cut. >> incredibly likely the fed will cut rates. >>

dollar. goldman does see a delayed recovery in the chip markets. prompted goldman to trade it gdp forecast. the s&pjust about 4% shy of hitting an all-time high while the aussie dollar is looking steady. take a look at wellington shares. we have the stocks adding about 1%, climb to another high while the kiwi dollar is looking for a little reaction. lower year yield pushing with gdp data due on thursday. focus extending to tuesday's drop. oil is edging higher. the traders may not be buying this optimism. checking on shares that are on the move in tokyo. we do have the stock gaining. it will accept a proposal for the upcoming. paul: thank you very much. that's to first word news with jessica summers. hitting back i criticism from washington. he is denying that he is weakening the euro to gain an advantage over the dollar. he says they are almost ready to add more stimulus and his comments weekend the euro. weaken the euro. he denied he has any plans to weaponize the exchange rate. >> we have our mandate. is defined as the rate of inflation. i just said a moment ago that we are ready to use all instr

p 500, salesforce. but we know why. flashing that cash, $50 billion of it. seeing the are dollar strengthened versus the chinese yen.ll eyes turn to what will happen between the u.s. and china before the g20 meeting now that trump has removed the threat of mexican tariffs for now. caroline: it seems as though the onshore falling. meanwhile, the mexican peso has been rallying on the relief that the tariffs are not coming their way anytime soon. scarlet: we have emerging markets overall gaining. this comes back to the fact that there is relief that the u.s. is not imposing tariffs on mexican imports. this is the 10th gain in 11 days. quite the streak they have had over this period. treasuries falling. the prices rallying hard since late april. london, the day that the tory leadership contest to become the latest leader of the conservative party leads off -- kicks off in earnest. the manufacturing data in the u.k. is weak. it fell the most in almost 17 years, dragging down the pound. scarlet: pretty ugly data. calls,et to our top which look at some of the movers on the back of analyst recommendations. first up, credit

p 500 close flat. arrow stoxx 50 futures turning and if. the dollar on the back foot against the yen. a safe haven.rg dollar index, the dollar has been in a range of ahead of the fed. the yield down by two basis points to a 207 handle. we got to 205 last week area taking look at middle east markets, a little bit of weakness in dubai. abu dhabi struggling for direction. the trump administration is sending 1000 more american troops to the middle east as tensions between the u.s. and the pentagonfter released new photos and a timeline which is says supports evidence that iran was behind a pair of attacks in the gulf of oman last week. good to have you with us. these trip numbers, what kind of signal is that sending? >> it is not a huge number, but it is a signal highlighting the escalation in the region. one thing we should keep in mind, it does not seem like either party wants escalation. trump had an interview with time magazine and called the attacks the thing that worries analysts is how to -- how the control.piraled out of >> the u.s. releasing new images they further link iran to last week's att

there now saying that shell money a strong dollar and stable prices is now somehow equivalent you know into personal inflation target. measures it was your score p c e inflation but minutes if the fed was kind of cutting rates at this juncture when the stock market is one here times underlying g.d.p. and the middle class is disappearing what would happen in many case would not. exacerbate the difference between the very rich and the worker to even greater extent right you are not only you seem to be worried about that now well let me ask you something so let's say or the same of a fortune 500 corporation and you've got 2 choices their 1st choice you are going to go hire a lot of people and are going to populate some factories that are going to manufacture stuff and are going to sell it hopefully at a profit or you're going to take that money the feds printing at 0 percent interest rate buy back your own stock and boost the price of a stock and players options and billions of dollars of the bonuses with which which choice would you take well also if i could borrow money at a lower rate than my dividend is banker and it really pays off to shrink t

s&p and a stronger euro relative to a weaker dollar. getting good core 1.1% euro area inflation. you are seeing a lifting yields to a 2.02%, weaker dollar mean stronger crude. $60 a barrel providing

p playing a growig role in the constants economy tackles. china is a major investor just last year beijing on sixty billion dollars worth of financial supports two african that's on top of another sixty billion. that they've already invested since twenty fifteen it also holds some 20% of african external government debt b but maybee more imporortant than eir of these is the fact that china is a huge. trade partner for africa last year imported nearly a hundred billion dollars worth of goods from african countries huge boost for economic growth. howewever thatt privilege econoc partnership between china and africa could cost the african continent economic growtwth in e coming years especially if trade tensions between the us and china continue to intensify. that's what i was explaining to usus our team h here and now abt my hundrdred more sees thehe afn development banks macro economic policy director take a listen. if. these scenarios with materialize meaning f from just the uncertainty to actually -- kind of impacting the international trade between the us and china this with the fact of coursese africa which is a major source all. imports

p closed at a record yesterday. we have technical things happening over the trading session, so there might be some volatility. euro-dollarpmi's across the board. that is helping sentiment. dollar index sitting at the 200 day moving average. yields go nowhere. crude up i 1% due to geopolitical tensions we've seen over the last eight days. david: it is time for the morning brief. at 9:45 we will get u.s. market pmi's for the month of june. at 10:00, existing home sales data for may. today is quadruple witching day, when options and futures expire, with a rebalancing of the s&p 500 and expected increased volume. and it is the solstice, marking the first day of summer in the northern hemisphere today and the first day of winter in the southern hemisphere. markets right now are taking a breath after the s&p 500 rose to a record high on the feds dovish shift. here to take us through is taylor riggs. theor: u.s. versus rest of world. after yesterday we are now outperforming global markets by about 8/10 of 1%. we are having our best month since august. this after the s&p is up about 7% alone this month. we still have 10 days lef