haidi: thank you so much, kathleen with a look ahead at the rba.not expecting any policy moves. of course, the usual suspects. ourdiscussing policy with rates specialist. it has become a common refrain, no inflation, high household debt, and now trade uncertainty into the mix. >> we think, of course, they looking the cash rate unchanged, heading for two years now. things are starting to shift in the number of dimensions and i think that we will see a softer tone come through today, basically for three reasons -- global data has been softer, market volatility has been up, and then on a local front, housing data and house prices continuing to go lower. i do not think it is enough to knock the rba's central case, the 3% growth, i do not think it is enough to knock it off track, but i think that there are risks. i think we will get a little bit of a slightly more cautious tone from them today. haidi: you look at when they are likely to hike, and it really has been decimated for the rest of the year, looking into june of next year before you have any ex

the rba will probably be on hold all of this year and next year.e don't expect a lot, but we have to listen to the language that comes out. we have the reserve bank of india, the fed, the boj, a lot of central-bank activity. i am happy. haidi: [laughter] economichays, global policy editor there for us. we will discuss the probability of the sydney banking sector getting an overhaul which was long overdue. ramy: perpetual, investment strategy had mac sherwood said that it'll tariffs will not upset markets not yet. this is bloomberg. ♪ ♪ we are counting down to the citi open. look at that beautiful morning with the futures up .6%, getting a tailwind from the u.s. friday close. the s&p 500 was up a tad more than 1%, especially with the great tale numbers are you i am you in new york. -- remy -- haidi: this is what sydney looks like. the u.s. economy shows strength. unemployment at a 49 year low, but tensions continue with wilbur ross in beijing over the weekend for the talks. take a look at the markets and investors. this is the head of investment str

>> wages fundamentally will try the rba.we don't think they will be doing anything for a while and why they are patient and say it will lift gradually. growth,l about wages and wages growth is sluggish. the national income story has improved, tax revenues rising over the budget look better last month and the government was expecting, but as of yet we have not seen that income flow through to the households in terms of higher wage growth. are structural things globally, technology and globalization are combining to make labor markets competitive, holding down wages growth, unemployment in the u.s. at an 18 year low, yet still wages growth is lifting slowly come us of that is affecting australia and one of the reasons why the rba will be on hold for a while. haidi: what about the fluctuations when it comes to the commodities part of the story? were getting closer to this opec meeting. exnot sure if there is an strategy. -- exit how does that feed in? >> there are three groupings, coal, iron ore, and lng. coal and iron ore stor

the rba staying on hold as expected.-quartep today expected to show a marginal pickup in growth is supported by exports and household spending seeing some strength as well. looking at dollar-yen ahead of the tokyo session, 109.86, sterling flat at 1.399. the 10 yield at 2.93. a whipsaw session overnight, but generally u.s. stocks taking a sessi,eat in the just ending marginally higher. david stringer joins us now from melbourne. china ready to boost purchases of american goods, $25 billion a year. buy,are they planning to and is it enough of a concession that we can stop talking about a trade war? >> exactly. all focused on threats of a trade war. what we are hearing from china quantifying the amount they are willing to raise imports, helping president trump reduce that trade deficit. wenty examples of that if dive into the chart library. we can see some illustrations of that deficit. saying china has indicated a willingness to oil, andre coal, food products, an extra $25 billion a year. the hope is that could avert that

strong data including retail sales ahead of the rba decision. also, when it comes to the euro, we hit 117 overnight. hasre holding onto gains seemed to be fading a bit as well. weakening past 20 per dollar when it looks like nafta is going to be pushed back to possibly next year. the trade tension with some of these em currencies as well. we are looking at the 10 year. we are still below the 3% technical, but we are seeing yields picking up in australia and the u.s. as well as germany overnight and italy. 15 basis points down on that for them. in the meantime, first word news. first word with jessica summers. the white house has announced the first details of president's historic summit with kim jong-un next week. they will meet on june 12. it is not clear exactly where three of the agenda is also unclear. both sides want the nuclear reservation, but that -- denuclearization, but that means different things. the northwest american forces to leave the peninsula. senate majority whip john has announced the talks have missed a key deadline and cong

a five rba night -- rbi night and the teams will play again tonight. >>> the miami marlins beat the giants last night. >> it goes to the left, it's over and he makes the catch. >> a big defensive stop by hunter pence with two runners on base. a rough third ending ended up being all the violence needed. the giants had three hits on the night on their way to the loss. they will try to improve tonight as the teams play again. >>> a possible solution to a growing problem in mountain view. the plan to ve rvs, lining the streets to a safer area. ice cream inspired iced coffee is here at dunkin' in the flavors you love, cookie dough, pistachio and butter pecan. and now, enjoy any medium iced coffee for $1.50. america runs on dunkin'. >>> welcome back. there is a growing problem in mountain view that can be solved. >> officials say the hundreds of rvs lined the streets as housing prices have forced peto live in their vehicles. >> the plan to give arby's a safe place to park overnight -- rv's a place topark overnight. >> reporter: this is sandwiched between rain forest park and caltrans tracks. lin

he will speak alongside his counterpart from the fed, boj and rba.anking lineup. tv.h that live on bloomberg this is bloomberg. ♪ >> welcome back. this is "bloomberg daybreak: europe." a subject we have talked about a lot this week. renewed north korean and u.s. relations could mean opportunity in the regime's deeply discounted debt. join us now, sree vidya bhaktavatsalam. very good to have you on the program. valuable opportunity? you know, you have to think about the fact that these bonds have not traded in a very long time. these bonds, there is lots of caveats attached to the availability of these bonds. first nobody knows where to find them. the second is markets are still frozen until u.s. sanctions remain in place. anthis point, what it is is expression of a desire that money managers around the world, there is a rekindling the possibility that they might be able to invest in north korea once again. the quest for this elusive bond is really an expressive up -- expression of that. nejra: elusive as you call it, three. what kind of upset are the

in contrast, other centralks like the ecb, rba who are apparently in no rush to remove monetary policy, nation -- accommodation. generate upside risk for the u.s. dollar. the second theme supportive of the u.s. dollar is escalation in trade tension. that is a major headwind to global economic activity, largely because it impacts negatively economic and investor sentiment. it will also disrupt global supply chain. all of these are headwinds to global growth and i add to that the rising financial tension in emerging markets. all of these are major headwinds to global economic activity, and it is usually an environment where the u.s. dollar can potentially do well. we come to that team about emerging markets, as well, but i want to focus on the monetary policy divergence one and you suggest we have these rates differentials playing out in the dollars favor. but the bank of england, no change expected there. wel us what happens because have central banks going in very different directions and we could see a rate hike from the u.k. sooner than the others. yeah, for the time being the intere

over concerns over chinese growth slowing down and the rate differential between the fed and rba.et's take a look at commodities, continuing to get with trade war concerns and just broader concerns that we are reaching the end of this growth cycle globally. the bloomberg commodities index and agriculture index down to 1991.west since january are seeing the likes of iron or taking a black as well. all this feeding into the continued route across emerging askets and the energy space we head to the opec meeting as well. volatility of highest since may. let's get to the first work news from new york. the philippines in her bank governor has laid out the case for a second straight rate increase. he cited broadening price pressures, tighter u.s. monetary policy and the currency slump. the peso plunged to a 12 year low this week. bond yields are at seven-year highs. he told bloomberg that wednesday's policy meeting will assess ways of reining in inflation which is -- what -- which hit 4.6% in may. perspective, it's lining up to our original anticipation that there will be an increase, bu

up next, president draghi speaking alongside his after thes from the ecb -- from fed, boj, and rba. wait for that. vonnie: let's check on the first word news. kailey: the u.s. is now on the brink of a trade war with china. president trump has announced tariffs on $50 billion of chinese imports. beijing says it will retaliate, and president trump says if it does, he will impose additional tariffs. ding toiffs are respon an investigation that accused china of stealing american intellectual property. and the president told foxnews he would not sign what is being built as a moderate immigration measure. the plan would curb his america -- administrations widely criticized policy of separating children and parents seeking asylum at the u.s. border. againstpeso rose today the u.s. dollar after former finance minister leak muto -- luis caputo took over. this is coming off a record low. global news, 24 hours a day, on on twitter,ic-toc powered by journalists and analysts in over 120 countries. coming up on battle of the charts, we will take a look at some extremely cracking charts. a quick l

and we are getting the rba meeting today, where they are putting policy on hold again. commodities, oil is one of the top stories of the day. the report on the street that perhaps we will begin in some sort of compromise ahead of the opec meeting, somewhere in the tune of 300 or 600 barrels a day being added, which is much less than the 1.5 million barrels russia had been pushing for. gold holding steady. the commodity index losing some traction. it was another tough session when it comes to the agricultural stocks, the tug-of-war you can see between erazilian soybean producers, on of the beneficiaries at of this trade war. and crossing the bloomberg, we had heard from president trump, one of the promises made at the singapore summit was the suspension of a war game. just getting this report that south korea is saying the suspension will be limited to the joint military drills in august. that is according to a military spokesperson, sent to a text message. the suspension of other joint drills will be decided upon later on, so slowly getting more details as to what the a

mario draghi will speak alongside his counterparts from the fed, the, and rba.head of economics will moderate that. you can watch live on bloomberg television or on your bloomberg using the command live go. let's get your mid-capovers. aviva, oneart with of the best performers on the stoxx 600 in the session. up in double digits. -- it really seems to be moving largely. these are the first four-year results since the completion of the deal with schneider electric. shares have hit a record high in this session, raising its 2018 financial forecast. the stock is getting a left even though all of the other guidance remained unchanged. onally, rathbone brothers, the downside, which has agreed to buy a scottish wealth manager for 104 million pounds. higherck was called ahead of the open and initially gained about 2% but dropped as much as 1%. those shares are dropping in the direction by about 2/10 of a percent. guy: comcast has been for much of 21st century fox. the largest you pay-tv provider -- u.k.v prover topped the bid from disney and sets up a bidding war for r

mario draghi speaks there alongside his counterparts from the fed, the boj and the rba.fascinating panel. you can watch it live on bloomberg sion. you can listen to it on bloomberg radio. guy: thank you very much. let's talk about the stock of the hour. having adyen, it is meaningful impact on the rest of the space. this is a payments company. one of the factors that could lead to the stock having a significant pop at the get-go of trading this morning. 76.08 is where we are trading this morning. there is functionality you can use around this. withhat is going on that ipo. we will say this for you a little bit later. matt: i just wanted to show everybody my world cup racket, because i am probably going to win because i know so much about soccer. you can do your own on the bloomberg terminal. i have england losing to columbia, and then spain taking the whole thing. ♪ francine: investors expect the fed to height. -- height. -- hike. at&t gets the all clear in their takeover bid for time warner. , the u.k. prime minister swerves a brexit rebellion in her own party. but can

mario draghi is going to speak alongside his counterparts at the fed, pog -- bank of japan, and rba. bloomberg. ♪ ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. we are 30 minutes into the trading day. let's get your headlines. european equities follow asia hires after investors shrugged off trade concerns, but how long can that last? weakened sterling faces a key test today with a crunch brexit vote in parliament. if prime minister may loses, or the currency dipped below $1.30? portugal, ara, blockbuster panel with the heads of the ecb, bank of japan, the fed. don't miss that conversation with our very own stephanie flanders. welcome to "bloomberg markets: european open." i am matt miller with guy johns

mario draghi speaks alongside his counterparts at the boj and rba. watch live on bloomberg tv and on -- here it on the radio. this is bloomberg. ♪ 23 minutes into the market this morning in europe. the bond markets reacted quickly to what was being said. it's, a little red. i don't know how else to say it. germany is under pressure this morning, no surprise given what is going on with the trade story. this morning, trading down by 1.6%. at question i would ask, what point do we get to the point where there is enough selling? cuestors will take their from the central bank, which is going to be a pivotal piece in all of this. as a result, we are focusing our attention on matt miller. matt: larry summers is definitely helping out the bears warning that global governments and central banks are not prepared in case there is another recession. they need to stop worrying about stopping inflation and continue worrying about incubating their economies. as a result, there are going to be a bought of questions about policy. -- a lot of questions about policy. i

wednesday, president mario draghi speaks alongside his counterparts from the fed, boj, and rba.e discussing the markets and listening to everything these gentlemen have to say. it will be moderated by stephanie flanders from bloomberg. this is bloomberg. ♪ ♪ anna: good morning. 8:18 in berlin. 7:19 in london. we will talk more about germany. the dollar, under pressure, 11 5.93. germany's crisis over migration policy is at a critical phase. faces a standoff with her interior minister and coalition partner. italy signaled its intentions to refuse to harbor refugee vessels. we are joined by our reporter in berlin. great to have you on our program. how serious is this for angela merkel, how much pressure is she under? it is serious at the moment. partner, taking control of a national border is they are facing at the moment regional elections in to say tond they want their electorate, we have changed the course in german policy. they were always against angela merkel on this issue and always said germany has to take control of its border. they are really eager to push this conversati

and your morning rbi brings you one stock that really takes the crown in a big way a lot more to do 'rbaching "worldwide exan."wee ckfter this. ♪ here. we perform over 50,000 operations a year in places like this. for the past 15 years, our safety measures. and today, our hospitals have some of the best patient safety records in the country. now, we're constructing new buildings that will define the future of piedmont and chubb is here, insuring our expansion. two million patients a year depend on us. and we depend onbb. >>> all right, welcome back, and good tuesday morning here's how your money and investments are shaping up their day. stock futures are in the green a bit. they're up 25 points not a lot. still, hey, not in the red the s&p 500, the nasdaq up as well we gained yesterday. we gained last friday. so, a nice little mini run for the u.s. stock market. treasury bonds moving a little bit, the yield about 2.93% overnight insia, kinof a similar story. we're starting to see sort of gains. again, not big ones, but more gron the screen than red the nikkei, the hang seng and shanghai

president mario draghi speaks alongside his counterparts from the fed, the boj, and the rba, moderatednie flanders. you can watch that live on bloomberg television or your terminal and you can listen to it on bloomberg radio. ilion bid. the same assets it agreed to buy. we'll bring you the latest when we get the counter bid from this -- from disney. this is bloomberg. ♪ anna: 7:21 a.m. in london. 921 a.m. if you are with matt miller in riga where he is for the ecb meeting. the bidding war has begun. let's talk about m&a in that media space. comcast made a $65 billion bid for the fox entertainment assets , the same holdings that disney has agreed to buy already. joining us now for more on the dave mckeown. good morning. this comes down to how badly disney wants the assets, will they come back with a counter bid? >> bob iger has not slept probably since the at&t decision has come down. they knew this counter bid will come after the at&t deal got a green light. he has to be thinking of ways to come up with a counter bid that will be as compelling as comcast's all-cash it is. this is impor

hosting this panel with president mario draghi of the ecb alongside his bojterparts from the fed, and rbae trade rhetoric dominating asian markets. >> a new round of tariff threats from the u.s. and china seem to be hitting asian equities. declining across the region. you can see pretty much a sea of red with china and hong kong leading the loss. they are playing to catch up to a certain extent of those markets were closed yesterday. all of these a-shares bucking a trend in positive territory. let's switch to the next chart and take a look at the shanghai composite, it has dropped below a key support level. not only that, but it has now hit a 2016 low. some commentary on the bloomberg talking about how the hang seng china enterprises index is at risk of breaking a two-year bull trend. we take a look at the fx space, the aussie dollar is the lowest performing g10 currency against the greenback in this section. it has had a 12 month low. this chart showing the aussie dollar rate falling, but at the same time, we are seeing one month volatility on the rise. on the safe haven side, you're see

wednesday, powers that in mario draghi will be speaking alongside his counterpart in the red, the boj, rbade. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> let the opec games begin. output hike is up to 6000 barrels of oil a day. iran talks tough about a gosia once more production. china strikes back and a list of u.s. goods in the hot seat as the u.s. targets tech and china targets agriculture. the next move is on president trump. markets shaky on trade war jitters in emerging markets, corn investors pulling the most money since 2008. -- foreign investors join the most money since 2008. david westin is off today. jason, good to see you. >> great to be here. >> what is the read on the s

haidi: i just want to jump in and get some of these lines from the rba meeting that just came out, sayinglex consumption remains a source of uncertainty. weak retail sales numbers have come through. growth has been more significant than expenditure. looking at anymore tightening and lending, referring to the macro measures in place to try -- also referring to the political uncertainty saying emerging-market prospects also posing up risk. comments when it comes to the jobless rate, data suggesting a gradual decline in the australian jobless rate and just some general comments about growth there as well. so nothing much of a surprise there. i want to go back to your comment about chinese equities. we are seeing this phenomena in where they have almost acted as if they are a haven, given the global volatility we've had. waiting for the shanghai composite to pull out of what is become a quadruple bottom, taking another leg lower. given all the positive the surrounding chinese growth and stability stories, msci, and as you say the domestically focused growth story that is largely shielded by t

here perhaps easing after a report that china offered to buy --rgy bids are ramy: we finally got the rba sophie, but the r.b.i. withion is going into it different curves. it seems that there is no relief in sight for em just yet? sophie: nada. jumping into the terminal to check out this chart to see the bearish technical pattern. this is when the 50 day moving average rates below the 200 day line. you can see that on the far right side of the chart, and this is the first time we have seen this in about 1.5 years. while it is seen as a bearish signal, it does not always lead to losses. similar break in january, 2017. that's our recovery and em. thisnder then whether perhaps will be sustained. we do have some of this optimism being taken out of the picture. ramy: great chart. i love it. i will remember that for reference. thank you very much. a bloomberg exclusive. that's the european central bank may be ready to announce its simplest exit plan in spite of political twists and turns. we have been talking to the continued markets. kathleen hays has the story. we have been talking about some

at the ecb forum in centra, president mario draghi speaks alongside his counterparts from the fed, rbatephanie flanders. listen on bloomberg radio, or watch on life go. yvonne: let's do a check of the latest on business flash headlines. the indian government is planning to offload part of its stake in coal india. the relevant department is said to be finalizing the offer. it is a fresh attempt to speed up sales after disaster to attempt to find a buyer for air india. the prime minister plans to raise $12 billion in the current year. the ceo of india's ici bank is going on leave. the head of the bank's insurance unit will step into the top post. the government is separately conducting an inquiry into allegations of nepotism against kochhar. yvonne: the axis management unit may cut 110 divisions as part of its restructuring. are planning on cutting 10% of its workforce in the u k and france. julie: ercari is said to rise above its ipo price today. the company is the first japanese startup to be valued at $1 billion. the big question is whether it can execute an ambitious overseas expansi

joining us, intel's brian krzanich is out and we'll follow that story and we'll take a look at the 'rbamaet wee ckft a short break see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade ♪ >>> if you are just joining us this morning, intel's brian krzanich has resigned as ceo after the company discovered he had a consensual relationship with an employee which is prohibited for managers. the company does give strong guidance in q2 and that's the reason why the shares are trading higher in the pre-market the dow is down for seven sessions i

draghi speaksio with his counterparts from the fed, the boj, the rba, all moderated by bloomberg's hadtephanie saunders. p.m.is coming up at 2:00 london, 9:30 new york. this is bloomberg. ♪ tom: good morning, everyone. stephanie flanders was an today.nt panel ssing is one of the founding forces of the euro and the european central bank. he has a collective history inng of germany. there is immense turmoil injure morning -- in germany. we see it in the battle over immigration. merkel learn from the past leaders of germany? guest: i think there is no comparable event which could be a kind of benchmark for chancellor merkel, but i think she had to learn that it was one thing to decide to open the doors in 2015 for the immigrants, and then to meet the challenges which are connected with such a flood of immigrants. germany is still suffering from that. there are many schools in which the percentage of foreign pupils is very high. there are genetic consequences for the school system, the , in terms oftem the immigration policy. andakes it even more clear leads to a kind of uproar the german

say, mario draghi speaks alongside his counterparts from the fed, boj, and rba, all moderated by bloomberg's head of economics. watch it live on bloomberg tv, radio, mliv . coming up, we talk opec and trump tweets. that conversation is up next, and this is bloomberg. ♪ francine: economics, finance, politics this is "bloomberg surveillance" francine, comcast has made their long-awaited offered for 21st century fox, the largest u.s. cable divider -- provider. the assets are valued at $65 billion, and tops a previous bid from disney and sets up a bidding war. , the bidshare represents a 19% premium over the disney offer. volkswagen will pay a one billion euro fine imposed by german prosecutors for cheating diesel emissions regulation. inclusion's one chapter, even as new developments arise. the world's biggest carmaker says the settlement will have a positive impact on other proceedings in europe. volkswagen still faces legal action in more than 50 countries. rolls-royce is said to the cutting 4000 jobs as they tried to simplify their business and boost profit margins. the layoff brings the

on wednesday, mario draghi speaks with his counterparts from the fed, boj, and rba, all moderated by own head of economics. bloombergtch that on tv, the radio, and on life go. . brexit, weted in talk theresa may and the pound. this is bloomberg. ♪ ♪ francine: economics, finance, politics. let's check in on what's trending across the bloomberg universe. on tictoc, you know it's l about the summi but did you know more about the movie president trump made just for kim jong-un. actually a fun story to check out. the central bank meeting this week, and we could be heading for mario draghi's most awkward meeting. in third place, elon musk's model three miscalculation, culminating in major tesla job cuts. in second place, theresa may scrambles for a brexit compromise. and the story that won't go away, north korea saying trump did agree to lift sanctions after their meeting. get the full take on the terminal now as the trump says that is absolutely not true. now we are getting some dtofhe'f it's having any impact on the pound. this is important, because we had that post yesterday. bang in li

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