accept a slightly lower rmb.ction from global markets -- in the beginning of the share, a huge reaction to china. it was really an overreaction. counteracted themselves by defending the currency. >> last august, yes, there should have been a reaction to that. nothing for quite a long time. currency stabilized. >> communication has improved. there is a political cycle going on in china and some key events. the president has more control over the economy. >> do you see the rmb getting even weaker? >> we are 6.9 for the end of the year. one-offt see a devaluation. the only way you would see that is if you've had an un-orderly fall for the yen. >> are we ever going to see japanese equity markets catch up? >> we have had a fairly good run over the last couple of weeks. market, all equity excited about the changes. the market is not pricing it in, it is to driven by the macro --too driven by the macro. we have had a run back from 100 to 106. it is binary, to the august -- to be honest. where does the extra money go to

. >> i am confused as to where the remember the -- the rmb is going. thes look at it versus dollar. that -- does that bolster the case for the yuan not depreciating more? right.ink you are gives the central bank in china a much more flexibility to manage the currency. we have a g-20 meeting. running into those events, the yuan will be relatively stable. we may see a little more softening. throughout the summer, i expect a much more stable exchange rate. yvonne: pinpointy difficult to when the dollar bull run is coming to an end. valuation, using our metrics, at a 10-year high. the valuation is not cheap. that we are close to the end of the dollar bull run. investors should refocus back into emerging markets. aussie, thatf the is where yields attract growth out of every place in asia, does the political turmoil effect that at all? >> not so much in the immediate future. the affiliation with commodities have been stable. will the new political environment or landscape change those ingredients for investors? so far, it does not look like it will be hugely different. if you look at what

residential stealing the headlines and all of this time, you can see the rmb against the dollar. shows it against a basket of currency including the dollar euro and yen. the blue line shows a weaker buyout. is, it's still a source of uncertainty in this market and you had the japanese finance minister telling g-20 to pay attention to the future direction of the yuan. a year --e are just just a day away from the one-year anniversary of -- interesting to see strength ahead of that current see. joe: i'm looking at the work function to prepare us for the fed decision. right now, we are at a 48% hike before the end of the year. just to put that into context, if you go a month ago after the brexit vote, the odds were 15 point 3% of any hike this year. jump up. been a huge nobody expects the hike this definitely are is chance of a hike on the table. amanda: i'm looking at the ftse 100. one month is the brexit and prior to that vote, there were dire predictions about what happened to the market but it has not come to pass. but it depends how you invested. in pound sterling, this is one o

obviously the percent, this is rmb, the percent of gdp where is as high as the u.k..m not sure if this is necessarily a good or bad thing. but there is an evolving debate on whether it should be used for buybacks. another great thing about germany, less inclination to do layouts. let's look at the unemployment rate of u.k. versus germany during the crisis. you can see germany did not ounce back after 2009 when the unemployment rate was around the world, much different culture with regards to laying people off. finding other ways to cut costs, reducing hours for everybody for a more stable, cohesive economy. a good argument to do their label model -- labor model. havecause german unions such strong representation on board, they also do not want to screw the company. they took fewer hours for those at-- employees who remained work. and with a bounce back, they do not have to train entirely new people. they can just stop their hours, it makes for a much more resilient company. me.t makes sense to >> also, i would not want to get fired. joe: coming up, we hear from citigr

david: for more on tonight's rmb's -- rnc speakers, we are joined by bloomberg's politics editor in chief tech investor peter thiel, a member of the paypal founders. talk aboutars old -- the role he will play tonight speaking onstage at the rnc? >> he is a big silicon valley supporter. most of the time, the money from the valley goes to the democrats. he is a member of the paypal mafia, one of the founders. he infected in -- he invested in spacex, bnb. vonnie: how will he be received by the crowd, the delegates? he is homosexual, the first gay to speak at the rnc. our sources tell us he will talk about being a gay american at the convention. it is a question on how he will be received. a lot of his interests and policies are not aligned with trump. he is a libertarian guy. he has libertarian views toward trade and immigration. a lot of those beliefs are sort of contrary to what trump has been talking about on the campaign trail. he is pro-immigration, pro-free trade. david: he is, like many denizens of silicon valley, interested in disruption. a number of people say you may be interested

rmb up to two and a half thousand to replace it.s is because apple, they are areerned apples developers anti-chinese. apple has said this is not the case. says, whyder at bina would used in money on an iphone seven when you can have it -- a chinese phone? to,aad: this is extending riots taking place outside kfc restaurants. >> smashing iphones unrelated to the claims. this is to do with the fact, over the dispute over the child -- the south china sea. the protests are seeing these companies as u.s. symbolism. iphones being smashed, the protests outside of kfc. chinese media has criticized the anti-u.s. protests, saying they are jingoistic and they do a disservice to the nation. certainly, there is been quite a lot of people upset over these rulings. rishaad: to say the least. thank you very much, juliet. that's it for "trending business." coming up, and she will be updating you on the biggest stories. a trader atst is citigroup. asia edge is next. ?c+sv angie: it's the middle of the asian trading day. we are live in hong kong as the

we want to make sure that we get a lot of the rmb.health care companies, pharmaceutical companies, do a bunch of research in colorado. industries at new over the last five or 10 years, they have really grown and health care has been one of them that significant. materials and energy used to be over half of our total economy. now i think it is a quarter. a diversified economy is a strong economy. any company does not want to have one source of revenue. they want to have a diversified source of revenue coul.. states are the same way. scarlet: that was mike's list of interview with tom hickenlooper. charlie rose will have an interview with hillary clinton double air here on bluebird television. we will have more coverage of the rnc coming up. this is bloomberg. ♪ scarlet: you are looking at a live shot here of the floor of the republican national convention taking place in cleveland. activities really get underway tonight. yesterday, the speech by melania trump marred the evening after accusations that she lifted races from the speech th

carney mark rmb -- mark was the adult in the room that kept the markets appeased and help the banks.ital buffer is to zero from 0.5%. he is trying to prevent a bank crisis. sterling rolling over as well, not all that having to do with governor carney. standard life of edinburgh shutdown redemptions from a property fund, a real state fund over the three-day weekend in the united states. that is a back story and on the front story with bloomberg news is nejra cehic. nejra: it is the first test for the five people who want to succeed david cameron. or than 300 conservative party members will vote today and the candidate that receives the fewest votes will be dropped from the race. andrea leadsom finished first in one poll but bookmakers say teresa may is favored. saudi arabia is the latest targets in a series of terrorist attacks as a suicide bomber kills himself and for security individuals. two other bombings caused minimal damage. in baghdad, the death toll has gone up from the truck bombing. at least 157 killed and 200 wounded. islamic state claimed responsibility. minister hasrime