joining us to discuss alan ruskin. to you. >> good morning. >> let's hit on the yen first of all. were we really expecting action today? >> amazing really. combined no action sort of story from the federal reserve as well taking a dovish line and then in the boj was just icing on the cake. we broke a very big level, 105.55 and once we did that started to trig they are whole kind of self reinforcing hedging activity that you are getting from japanese investors. >> nobody seems to like a strengthening yen across the globe. seems to be spooky for stocks and bonds but especially the japanese. what do they do? >> there is not a lot they can do. it is plausible they ease again. so you can get another 10, maybe 20 basis points of rates. they are going more negative. that didn't work last time around. they could add to qe. kind of helicopter dropping huge amounts of cash into bank reserves anyway. that is not going work i don't think. so i think you are going to be left with dollar yen pushing down. if it goes through a hundre

ruskin would change. i was availability to over he's been very good about responding when i do ask for a meeting. >> i agree. director ruskin is incredibly responsive and so was dylan on his staff. one more question about the sfmta is budget. the way it stands right now, we don't have the board of supervisors doesn't have the authority to reject certain line items of the mtas budget, correct? is just another down vote >> right. i actually had considered be changing that and my thought process-i would keep this as simple as possible, to complicate things. i'm just going after two things, which is believed to change the-to have a split appointment process and that we keep the budget vote consistent with the other departments. >> certainly, i can understand that and respect that. i know there's certainly been moments when i reviewed the mta budget whether certain things i believe should not be in there or should be reevaluated -content and ruskin i do know he's in the air but there some change could i wish w

joining us now alan ruskin, global head of the fx markets from deutsche bank.at are you make of it? alan: it is stunning, overnight. a lot of people were looking at overnight volatility priced at 1.50 and thinking how could this possibly be? when you look at the appropriate pricing for overnight volatility in cable -- sterling against the dollar -- it should have been 3.15. certainly a crazy event overnight. , there is ay now huge amount of uncertainty. the prospect eventually, with additional slowing in the u.k. economy, potentially the bank of england easing. this is falling on a country that is running a deficit that is in the danger zone already. we are talking about a deficit of over 5% of gdp on a consistent basis. that is problematic in its own right to the financing of that will be a problem. 1.731.n: a rate of for 1.15bank calling year round. you and i had a conversation last week about gappy markets. do we continue to trade that way? ,lan: i suspect it will be thin going forward, but not nearly as thin as overnight. market is what we have already seen

great to see you, alan ruskin, fx research atof deutsche bank. troy is staying with us. ," shares of viacom are higher. we will have the latest on "bloomberg ." ♪ david: "bloomberg ." -- this is "bloomberg ." i am david westin. emmanuelle.ulian emma: this is "bloomberg ." latesta chandra with the "bloomberg business flash." apple may have to stop selling its latest iphones in the chinese capital. apple is not commenting. it can appeal the ruling and still be allowed to sell the phones during the process. there is a deal in the specialty chemicals industry today. albemarle is selling a division a germany's -- deivision to germany company. albemarle is looking to pay down its debt from a recent acquisition. they are selling the garden shane -- chain. tesco had been trying to revive its main supervisor business. that's your latest "bloomberg business flash." david: let's go to bloomberg's abigail doolittle on stocks that are moving in early trading. looking at are weaker open. shares of apple are down 1.4%, although off of the lows to some degree. first,

. >> after a few hours on traffic duty in ruskin heights, a residential neighborhood, a call comes inr the radio with few details. all they know is a car has crashed into a tree just a few blocks away. >> it was a noninjury vehicular, one car into a tree, which is a pretty nondangerous call. >> only officer turner is dispatched to check out the scene. mcginniss stays back to continue running radar. >> as i drove a little further towards the accident, i saw an hispanic male wearing a white t-shirt. i slowed down, look at him in my rearview mirror. it crossed my mind i wonder if he knows anything about the officer, he saw it or was involved in it. >> as officer turner pulls up, there's no driver in sight. over the radio, he learns that a latino man was driving the suv and has fled the scene. >> i radioed back to dean, i knew he was sitting right back there up the street. i asked him if he would stop the male. it was kind of shocking that somebody could just walk away from that. >> responding to his partner's call, mcginniss takes off in search of the man and sees him walking into a near

. >> let me bring in thomas ruskin. we've talked about whether it was bataclan or the restaurants in ares, entry waway of the airt in brussels, the so-called soft targets. you're a detective and i'm surrounded by law enforcement and the fbi a, when i hear soft target, that is everywhere we go every gay o day outside of a military base or police headquarters. everywhere is a soft target for the most part. >> we live in a very open society. i mean, we go back to times square and trying to detonate his car. yes, we live in a very open society and that's why law enforcement has to get it right every single day. they don't have a chance of one day we made a mistake or we missed this. they have to get it right every single day. and as manny has said on your show, this is what the responsibility of law enforcement and current law enforcement will have to be. what we have to learn from this incident is how in the future after the fbi maybe questions someone three times, how that person may be targeted. so if they buy a gun or a

i just mentioned the weak sterling call from your team, alan ruskin and your colleagues in crime at foreignive us the why. is there a domestic story, or is there more going on? peter: clearly the british economy is taking a hit. how big a hit, very uncertain at this point. many people are expecting recession. there is a case that there could be a smaller decline. given this uncertainty and the the bank of england is getting into action here later this year, this is a clear negative for sterling. tom: is the bank of england independent, or is governor carney going to burn up the phone lines with chair yellen? peter: chair yellen has made it -- she has not spoken on this yet. the governor spoke last night and made it clear that the fed is concerned. like theovish, sounded fed will not be doing anything for quite a while. margaret expectation of 2018 may be a bit far. to no question the fed waits see what is happening here. will the fed act on behalf of the u.k.? no third will the fed hold off because of uncertainty -- no. will the fed hold off because of uncertainty? yes. francine: when you l

so i think were doing more than asking them to pay their fair share as ruskin to be good neighbors andi appreciate you doing that supervisor peskin. thank u so much >> supervisor peskin: i do, sir and just by way of background because i know that building. the famous [inaudible] in what beach, actually was being advertised on a different platform not air b&b but was we should remember there are other hosting platforms and that one actually come after doing some research was not listed on your b&b. was listed on a different site. >> testifier: >> supervisor peskin: ms. lederman and after the next speaker, [calling names] >> testifier:

so what this means for the global economy and company earnings, joining us post nine, allen ruskin globalead of deutsche bank, and travis arner, worldwide market, sarah eisen will join us very shortly. allen, this isn't a huge bounce here for the pound. you might have expected more? >> i think the pound is at the epicenter of the storm. i think you can get a balance from a lot of other indicators. i think global risk appetite is going to be okay. u.s.e equity market should find something of a flaw. the pound is pretty much a sell and uptick story. >> sarah join us. >> reporter: i'm just wondering how much is baked in, in terms of the pessimism and the uncertainty about the politics and the economics of what's going to happen in the uk now we've seen the currency lose, what, 12% of its value. >> i think the politics is priced at this point in time, sarah, so i'm sympathetic to that view. where i'm more concern side over the longer tomorrow, how the uk will finance its current deficit. in the past, this deficit, 2/3 rds, we'll have a record, balance-based deficit. that's the big achilles he

so i think were doing more than asking them to pay their fair share as ruskin to be good neighbors and i appreciate you doing that supervisor peskin. thank u so much >> supervisor peskin: i do, sir and just by way of background because i know that building. the famous [inaudible] in what beach, actually was being advertised on a different platform not air b&b but was we should remember there are other hosting platforms and that one actually come after doing some research was not listed on your b&b. was listed on a different site. >> testifier: >> supervisor peskin: ms. lederman and after the next speaker, [calling names] >> testifier: thank you. good morning supervisors. my name is lori lederman resident of the inner sunset. i urge you to support this legislation. the galatian without enforcement is meaningless without the required tools enforcement is ineffective. the evidence is in. according to the city's own office of short-term rentals only 75% of hosts are registered. the opposite attributes this in large part to a substantial number of hosts were not eligible to operate short-te

so i think were doing more than asking them to pay their fair share as ruskin to be good neighbors andi appreciate you doing that supervisor peskin. thank u so much >> supervisor peskin: i do, sir and just by way of background because i know that building. the famous [inaudible] in what beach, actually was being advertised on a different platform not air b&b but was we should remember there are other hosting platforms and that one actually come after doing some research was not listed on your b&b. was listed on a different site. >> testifier: >> supervisor peskin: ms. lederman and after the next speaker, [calling names] >> testifier: thank you. good morning supervisors. my name is lori lederman resident of the inner sunset. i urge you to support this legislation. the galatian without enforcement is meaningless without the required tools enforcement is ineffective. the evidence is in. according to the city's own office of short-term rentals only 75% of hosts are registered. the opposite attributes this in large part to a substantial number of hosts were not eligible to operate short-ter

so i think were doing more than asking them to pay their fair share as ruskin to be good neighbors and i appreciate you doing that supervisor peskin. thank u so much >> supervisor peskin: i do, sir and just by way of background because i know that building. the famous [inaudible] in what beach, actually was being advertised on a different platform not air b&b but was we should remember there are other hosting platforms and that one actually come after doing some research was not listed on your b&b. was listed on a different site. >> testifier: >> supervisor peskin: ms. lederman and after the next speaker, [calling names] >> testifier: thank you. good morning supervisors. my name is lori lederman resident of the inner sunset. i urge you to support this legislation. the galatian without enforcement is meaningless without the required tools enforcement is ineffective. the evidence is in. according to the city's own office of short-term rentals only 75% of hosts are registered. the opposite attributes this in large part to a substantial number of hosts were not eligible to operate short-te

like a cold front down to the south side of this has produced flash flooding early between tampa and ruskinome nasty weather. here's the latest advisory. the 8:00 a.m. advisory just out from the national hurricane center. it's racing to the northeast at 33 miles an hour. they say max winds of 50. haven't seen any reports even close to that near land. that will be over the open water. by 2:00 p.m. today, starting to clear the outer banks and increased from a tropical system to an extra tropical low. the other story late this afternoon, maybe isolated severe storms in new england. marginal risk for a good section of new england. this yellow area here is a slight risk. that's where we could see large hail. the timing on that does appear to be typical of late afternoon into the early evening. these are the scattered storms at 2:00 p.m. by 4:00 p.m. into the berk shisshish berkshires and summer weather continues. 90s from the west through texas. going to be 96 today in boise. new york city, looking for some coolish type weather now in the great lakes. that's heading your way as we go throughout

so i think were doing more than asking them to pay their fair share as ruskin to be good neighbors and i appreciate you doing that supervisor peskin. thank u so much >> supervisor peskin: i do, sir and just by way of background because i know that building. the famous [inaudible] in what beach, actually was being advertised on a different platform not air b&b but was we should remember there are other hosting platforms and that one actually come after doing some research was not listed on your b&b. was listed on a different site. >> testifier: >> supervisor peskin: ms. lederman and after the next speaker, [calling names] >> testifier: thank you. good morning supervisors. my name is lori lederman resident of the inner sunset. i urge you to support this legislation. the galatian without enforcement is meaningless without the required tools enforcement is ineffective. the evidence is in. according to the city's own office of short-term rentals only 75% of hosts are registered. the opposite attributes this in large part to a substantial number of hosts were not eligible to operate short-te