ricardo evangelista from -- in london. ricardo evangelista from activtrades joins me now.t to ask you why personal consumption expenditure is the best in five years. home sales have had the best three months since 2007. so what is it that is going to propagate a rate cut, two rate cuts, in your view? domestic, or global issues, first of all? ricardo: i think that is both. starting with domestic issues, the american economy is coming to the end of the cycle. it is still growing. it is still displaying many signs of health and vitality. this cut is mainly driven by consumption. in the u.s., this consumption has been driven by credit. the levels in the u.s. are very high. we will have a for sure political pressure on the fed. it is not also real economy pressure from data that will be coming through the year of. of0 the fed at the moment -- 2020. i think the data will deteriorate. data iso think that the going to deteriorate -- i always get nervous when i reflect back on data from 2007 and 2008. i do get nervous. there is one lady i pay attention to, catherine mann. she spoke

anna: ricardo evangelista. we will hear more from him later on in the program.p next, clouds are lifting for the markets. the reaction to the interim trade deal and the u.k. election. all of that in conversation with julius baer. a big majority in the u.k. election paired big news on trade, lifting global risk assets. this is bloomberg. ♪ [ electrical buzzing ] [ dramatic music ] ahhhh! -ahhhh! elliott. you came back! >> this is so unique an outcome that there has been -- there has never been a prime minister who the party and increased its standing in parliament with the number of mp's. he is going to have his eye on the next election already. it tends to poll, get it wrong by may be 15 feet maximum. for this to be wrong, it has to be a new historical error. >> very few things are better for a currency that uncertainty. it is higher right now. allows him toty go either way. and the bigger the majority, if it is confirmed as the exit polls are suggesting, the more he will be able to determine his own position. guests earlier on bloomberg television on the u.k. e