devaluation of sterling, for instance, sterling - devaluation of sterling, for instance, sterling ise expensive~~ _ compared to the dollar. imports are more expensive... so— compared to the dollar. imports are more expensive. . ._ more expensive... so we should be reducin: more expensive... so we should be reducing stuff _ more expensive... so we should be reducing stuff ourselves? _ more expensive... so we should be reducing stuff ourselves? exports l reducing stuff ourselves? exports are now more _ reducing stuff ourselves? exports are now more expensive - reducing stuff ourselves? exports are now more expensive because| reducing stuff ourselves? exports l are now more expensive because of brexit. _ are now more expensive because of brexit. because _ are now more expensive because of brexit, because with _ are now more expensive because of brexit, because with your _ are now more expensive because of brexit, because with your principles with your— brexit, because with your principles with your commercial— brexit, because with your principles with your commercial partner - brexit, b

and sterling k. brown.s is "the daily show," with trevor noah. ( cheers and applause ) >> trevor: what's going on, everybody? welcome to "the daily show." i'm trevor noah. thank you so much for tuning in. thank you for coming out in person. good to see you, everybody. we've got a great show for you tonight. take a seat. let's get into it. so many things to talk about. the planet is flooding and drying up. a mystery guest will tell us why elon musk was sent here from the future. and from "this is us" here to talk about his brand-new movie, sterling k. brown is joining us on the show, everybody. i cannot wait! so let's do this. let's jump straight into today's headlines. ( applause ) >> trevor: all right, before we get into the big stories, let's catch up on a few other things going on in the world. first up, scotland has just become the first country in the world to make tampons and pads free to anyone who needs them. ( cheers and applause ). yeah. that's amazing. period products will now be given away in ph

sterling reacted badly.bout lack of investment growth in the u.k., investors need something to hang their hats on. they need to see improvements in productivity and growth. that is not what they are seeing now and that is where sterling is really weak. kailey: the boe is in a tough spot. the ecb is too. there is a question if they can do anything to support the euro. if we get a break of parity again, where the bottom? jane: if we were to break parity there is every reason we could fall fast towards 95. i think you are right to make some comparisons between the bank of england and we the ecb could find itself in a few months. if we look at the situation in the euro zone it is about energy. we know that. we have blackouts in germany's industry groups over the winter months. we have the market panicking about what that would mean for growth, the lack of growth in the euro zone. that would not necessarily do anything to bring inflation down. we could have an hawkish ecb in that scenario.that would not be a scen

secondly, the weakness in sterling. a lot of countries on the ftse of -- ftse 100 has overseas earnings. put those together and the ftse 100 is actually outperformed a lot of global markets through the slump of the first six months. undeniably, the use -- the u.k. economy is suffering. francine: what is your take on it? >> the banks have to keep raising rates. those -- for a long time in the summer, what is required for the bank of england. you seen two-year yields search 25 basis points this week. and it's telling the story that when futures are not very good, they're going down. there is no incentive to be buying and that's what you are seeing. francine: at what point does the weaker currency become problematic for the u.k.? >> with the u.k., we have to start worrying pretty soon. we've seen the effects already about how the weakening currency with increasing amounts of inflation. that is when we reach a tipping point between the flattering effect of the weakening currency as inflation gets imported at higher and high

also sterling.hardy, had a public strategy spoke to a similar. >> europe hasn't performed as much as it should, i think the fx -- the situation is a complete rethink. it is strange for all of us to see the euro it started off so it should be much faster. francine: we're joined by john hardy, head of fx strategy at saxo bank. going back to the map -- manufacturing pmi's a better than expected. what are they missing. are we heading toward recession and is no way out of it? john: we've got them pretty far pretty fast. done well but apparently. as with reported, the energy prices, the score prices for powers of natural gas, were talking about levels, i'm reading that some companies are not hedging at these prices. either prices have to come down or production will stop to some degree. that's a big outlook in europe. the current shutdown of the nord stream 1 pipeline. the euro is set for an ugly menu of problems. i see continued pressure there -- unless something dramatic develops on the west side of thi

the question you need to ask yourself, is this sterling anemia or just dollar strength? dani: something we will ask stephen gallo about. we have enda curran in hong kong on beijing's latest rate moves. juliette saly will be looking at the asian moves out of singapore. manus: stephen stapczynski, lizzy burden in phoenix. where the labor strikes are set to threaten the you play supply chain -- u.k. supply chain. the economy struggles. the banks have lowered their benchmark lending rates and the authorities are stepping up support with additional loans. let's get to enda curran. how far do these measures go as putting a floor under the current set of woes in the market? enda: they are more than expected. it is the benchmark for five-year mortgages by 15 basis points, a bigger cut than anticipated. the second thing that is happening is they are coming up with ways to funnel funds into properties to ensure that those projects get finished so it speaks to two things. a, additional support for the real estate sector in the broader economy but b, this sense of urgency that the c

tonight, join jimmy and his guests - sterling k.rown, eve hewson gabrielle zevin, musical guest em beihold and featuring the legendary roots crew >> questlove: 1699 >> steve: and now, here he is, jimmy fallon [ cheers and applause ♪ ♪ [ cheers and applause >> jimmy: oh my goodness right back at you. enjoy yourself welcome, everybody welcome, welcome, welcome to "the tonight show. you're here. you made it. [ cheers and applause you're watching. thank you. well, guys, the big story continues to be the fbi's search of former president trump's home at mar-a-lago seriously, you knew you did something bad when you're the former president but you're still making more headlines than the current president, don't you think? [ laughter ] you've got to hand it to trump, though, he has endless scandals for six years and he always manages to keep them feeling fresh and new, don't you think [ laughter ] yeah, the action never stops it's like if discovery ran shark week 24 hours a day 365 days a year. [ light laughter ] well over the weekend, we fo

dani: i know your also aussie versus sterling.ooking at yesterday's inflation data in that u.k., it is above expectations. this that change it all your sterling outlook? alexander: what is interesting is that sterling failed to benefit significantly from higher inflation. i think it is because the growth outlook is not favorable. in addition to that, negative real rates make funding the current deficit quite challenging. that type of set it -- set up usually does not bode well for currency. we think positioning has squeezed recently. the way we like to express that view is to be short versus long in the us trillion dollar. manus: the one word which i am loathe to use is doomed loop. it seems like it is on the edge of a much bigger and more significant repricing to the downside given the toxic outlook. is the market skewed to the downside and material evaluation of the sterling on crosses and outline? alexander: we think it was a few months ago. especially in spot markets. what we have seen is extreme sterling shorts a few months a

sterling came close to a 1.15 handle.the month to date chart of yields in the u.k., germany, massive moves. what have you seen in the currency? weaker. the central banks looking to bring in big time inflation prints. tom: italy, 8.2 survey, 9% inflation. jonathan: look at the headline in europe. nine handle for the whole of the euro zone. that is why the bundesbank is pushing for this decisive move. we are assuming they will have a recession and will hike aggressively into it. bear in mind where cpi is in the euro zone. rates are still at 0%. that is why many of the hawks are looking for a big move next week. tom: i go with that, but, sorry, europe is unique. and it is underplayed, there is a war going on. jonathan: we will be feeling the consequences of that for a long time. if you have supply-side problems and you are guessing that with interest rate hikes, they could be chasing their tail for a long time trying to get that down. tom: the combination of those dynamic parts, when does the fed see enough data, or another

sterling, among others had to address. mr. sterling, thank you also for being here today. following the 2020 election, in addition to your normal duties, understand you became the spokesperson to try and convey and disinformation about the election. as well as the danger it was creating for election officials among others. in a december 1st press conference, you addressed some of your marks directly to president trump. let's hear what you said that day. >> mister president, it looks like you lost the state of georgia. we are investigating, there's always a possibility. i get it, and you have the right to do recourse. which you don't have the ability to do, and have to step up and say this, is stop inspiring people to do potential active violence. someone will get hurt, someone will get shot, someone will get killed, and it's not right. it's not right. >> mr. sterling, what prompted you to make these remarks? >> we had a previously scheduled a press conference that day, as we were in the habit of doing, trying to be as transparent as possible with the election and the count

in terms of currencies, we have moves in the euro and sterling sterling down nearly 80 basis points joumanna raised the question will we break through 1.16 looks like something to watch. euro trading against the dollar. comments over the weekend is emphasizing how concerned consumers are with the economic of the eurozone with the crisis under way. >>> now turning to u.s. futures. wall street with further losses. all three indexes with a weaker start. 200 point decline for the dow jones industrial average the dow dropped 1,000 points on friday >>> millions of tons of grain and other foods need to be cleared from storage in ukraine to make room for the next harvest. that is according to the u.n. coordinator for grans ins deal >>> in the uk, soaring energy led fertilizers to stop production the government has ruled out any financial support for the plant after similar warnings forced it to intervene let's get out to the field in suffolk. i assume you have been talking to farmers this morning. talk about the situation on the ground >> reporter: it does feel dry to say the least. the global droug

britons, but the forecasts continued to change for the worse, now we are talking about 4,200 pounds sterling on an annual basis. next year, he expects a total of 5,000 pounds for understanding with our money - this is about 30,000 rubles. per month. of course they pay. everything for the people of the underprivileged is in in general, a real tragedy, that is, uh, well, there are literally for several million families, yes, that is, there are 1.5-2 million seven, in general, this is not a joke at all. it's a question of whether we'll eat normally there, yes, or we'll pay for the light. but further worse than apocalyptic forecasts, the bloomberg agency joins, according to the publication. the uk government is seriously considering introducing managed blackouts this coming winter. in the uk, it is expected that the coming winter periods gas shortage islands can coincide with periods, especially cold weather. on such days, it will be necessary to carry out a controlled power outage, both for industry and for ordinary consumers. they have a physical shortage of gas, as far as i remember, no, but

even that cannot save sterling.s is a dollar story as well as an energy crisis and economic vortex. if you are going to -- to the front door. that is what they say. we might actually have to cut opec production. dani: i'm going to be pretty quick with this equity check because i think what you are showing is what is moving these markets. a deterioration in the euro, in a pound that is moving equities. we are seeing pretty substantial losses, down .2% for the future session. manus: did not take long to kill off the summer of love. of course unseating the technology rally. to the german power issues. markets panic, quite literally panic, over the country -- dependence on russian energy supplies. olaf scholz is in canada. part of the push is emphasizing his government is working hard to end the dependence on russian gas. >> we are working hard to become independent and we are doing a lot of investments to make it happen. we are doing it as fast as ever possible, never such an infrastructure. using the processes because

plus, sterling is set to the worst week, double-digit inflation. retail sales but the world will struggle with a lot more if xi jinping comes face-to-face with the rest of the world leaders. dani: all roads lead us to the king. 75 basis points talked about yesterday. my favorite quote saying is jackson hole and he said the any talk before this is random noise. let me show you what stocks are doing so far. asia index is on track to break its five streak. some stocks are lower. basically every down to tens of 1%. if you have the likes of j.p. morgan saying that they are defending their calls. it risks disrupting the financial markets. nasdaq futures are lower. today around 2 trillion worth of options higher. manus: i suppose it comes down to this, how do you puncture that narrative? for powell to continue the narrative, it is strong on the dollar. it is a pound called malice. we have not even seen the war. there could be more implications. 2-year note are rising. the pivot at jackson molen, the dollar is up. the kings dollar. no limit to the partners

but that weakness of sterling that you have just highlighted.mpetitiveness that the british economy needs. i think liz truss is someone who was more committed to the regulation, for example, than rishi sunak, her opponent in this race. there are ways that she can reassure markets and certainly for all the reasons you havejust highlighted, she certainly will need to. let highlighted, she certainly will need to. . highlighted, she certainly will need to. , ., , , , to. let me bring un on this because the strength — to. let me bring un on this because the strength of— to. let me bring un on this because the strength of the _ to. let me bring un on this because the strength of the dollar— to. let me bring un on this because the strength of the dollar is a - the strength of the dollar is a problem notjust for the uk but for other countries in europe and as i say, it is paying for fuel. other countries in europe and as i say, it is paying forfuel. america has this fuel independence and stm rightly says, the uncertainty of the economic situation here i

compared to europe on the euro side or the serial -- sterling side.hat being said if you look at the investment grade, the balance sheets of these companies, you have to pick your way through the high-yield market and see who has got the balance sheets that can take a more people colts economic environment that we will get in the second half of the year for sure. >> you have penned -- i want to pivot to europe easily. you have three rate hikes. the reason why i'm looking down, i want to try and get the energy price. i'm going to ask the producer of this -- to put it in the gtv library so you and i can deal with it. the markets have got three rate hikes now by the end of the year and i want to challenge that. and i want to challenge it based on this, the energy price inflation narrative which is hundreds of percent rises in electricity, goal, --, gas, cost-of-living, 523% on german power. it's a debate, isn't it? they have to do something. but it is supply-side. how folly would it be to do three rate hikes? >> the ecb and the bank of england have got a

. >>> plus, sterling performance sterling k.g to chronicle the ultimate come back this easter is our revival >> how his faith helped bring his character to life and the possibility of revisiting his "this is us" role in the future. >>> and honoring elvis we're looking back at the life and legacy of elvis presley on the 45th anniversary of his death. >> elvis still has that charisma that is able to attract fans nearly 45 years after his passing. >> his wife priscilla joining us in an exclusive live interview as the world pays tribute to the king today, tuesday, august 16th, 2022 ♪ >> from jackson, mississippi >> to new york city on our honeymoon. >> from asheville, north carolina >> here for my dad's birthday. >> from ohio >> here with my mom. >> from toronto, canada. >> lauren turns 6 today. >> hi to my mom watching >> in pennsylvania >> to my grandma betty in indiana, i made it on the "today" show >> from livermore, california. >> celebrating 53 years married to the love of my life >> can we just say awe >> it started at prom.

and sterling plummeted. fast-forward to august, a really horrible outlook in terms of growth when they painted the picture of a five-quarter recession. the point of view of sterling investors have maybe bank of england interest rate hikes coming, but you also have a stagflationary environment. and who wants a piece of that? ecb are walking into this situation where they could be hiking in early september, and again perhaps before the end of the year. with the energy crisis as it is, it seems really worried about germany getting cut off. it is not an investment they really want. guy: let's develop that further. ken dukes is making the point that this is not about rates. the rates are going to have little impact on what happens, it is trade. if you say it is about the energy crisis, and he was saying until the energy crisis is over -- here is the line he had -- as long as the energy crisis lasts the euro will be anchored. is this not about rates? is this about that trade story? and if it is, how long can we be

total amount of this package has already reached two and three tenths of a milli yes of a pound sterlingom only defensive types of weapons , but also such types as rso artillery systems, missile systems, minesweepers and much more, and in addition, the uk quite openly claims a role. uh, almost the main european hub for training personnel for the armed forces here the task is set to release 10,000 ukrainian graduates from the local barracks every 120 days, so the degree of engagement of the uk on the side of the kiev authorities is significantly higher than the engagement. and their neighbors on the continent, but i would like to say about one more thing, and those political signals that boris johnson brought with him to kiev. these signals are obviously intended both for the kiev leadership and for the western allies of great britain and for, uh, his own fellow citizens boris johnson, and this signal is extremely simple no normalization. there are no negotiations from russia, not a step back, only a military path, along which ukrainians continue to be pushed. uh, providing them with larg

, i for instance, sterling is at its weakest compared to the dollar.we should be producing stuff ourselves? exports are now more - expensive because of brexit, because with your principles - with your commercial partner are now stacked with tariffs - and administrative jumps. —— and minister of hindrances. it's notjust the british, it's partly down to the eu, as well, it's about the partnership. the eu has done everything to ease the way for the british _ to have a good brexit, but... there'll be lots of people who take issue with that. . know. they-u say— emmanuel macron is the worst, etc. the fact that the british didn't have their act together, - they were divided and they treated brussels, as brexiteers do, - with utter contempt. let's not relitigate that, butjust in terms of where this leaves the uk now, i was reading an article by melanie phillips, who was a long—standing conservative commentator, she was writing an article this week that she kind of despaired over the conservative party, she said, "it seems to be an argument about the size of st

and also we -- also getting the pointe shoes >> that was cool. >> thank you, sterling >> oh. >> jess as well i know you've been here before but seeing it through their eyes. >> it's amazing. such wonderful experiences we've had the best time so far haven't we, girls? we want to say thank you to everyone for making this happen. it's been amazing. from the bottom of our hearts we're grateful aren't we, girls these are memories you're having for life now >> yes. >> when are you coming back? >> we'll come back soon. >> keir, you've been showing us pictures of your adorable family for the whole ten years you've been here. it's so fun to share them with us >> i go to places scary for jess, there's nothing as scary as putting your children on live television. >> they're great. >> i hope they remember this, the way i remember my first trip to america and remember more than what they did, but what the country is about because, you know, as i said in the piece, it's a beacon for so many people and i hope my children will take it away. >> when you come back the next time, what do you want to do

tv channel well, let's announce a couple of important news, the republic of poland handed over 5 sterlingnister fedorov said, ukraine already has the largest number of sterling in europe, definitely good news, especially in connection with the fact that they are actively used by our fighters in the east, and this helps to quickly and reliably exchange information, and i suggest now to add an expert to of our conversation petro chernyk - a military expert with us on the communication petro we congratulate glory to ukraine glory to the heroes well accordingly we would like to ask you about the current disposition of the enemy so we understand that they are preparing something well everyone is talking aloud about the fact that it can happen on august 24 on ukrainian independence day, and now everyone, so to speak , unofficially, on a household level, is discussing what the enemy might dare to do. what do you think, what can we expect, well, for my flight, the most effective scheme for them is a large massive missile attack on a huge scale unfortunately, they still have a certain potential fo

on top of that, they went on to talk about sterling. sterling fell by about .7%. it certainly was expected. but this is not a crisis. >> that is the median estimate. it goes as high as 3.20. if this comes in hot, i would imagine we will see a yield on the back of this inflation story. >> that is one, can we break above the 3% when it comes to the u.s. treasury yields. when it comes to revenue, quarterly revenue declines for the first time ever since enlisted in the u.s. back in 2014. the consumption story, we are still not clear yet. >> tech stocks really feeling it has been a tumultuous fight for them. of course, we have these overhangs, we have economic slowdown. if we just look at the nasdaq and the golden dragon china index, down about a percent. 11% of the -- 11% decline in july. 41% in spite of all that. this is quiet something. maybe some light at the end of the tunnel coming from alibaba. i think softbank is using that light. >> it is a cash call. i think they netted a lot of money in 2021. of course, the background here is they hold a sizable chunk in ali

at how stretched the position has good -- has become paid this is the second most stretched long sterlingosition on record. the last stretch was back in 2011. where responding to a positioning for a big liz truss, assuming she wins, support package with less confidence that we see the sterling rally. i am not convinced. she could surprise us if she ends, but -- wins, but it looks like what we require is some kind of temporary nationalization on energy in the u.k. there needs to be a cap to have a full-fledged proper impact. i am not convinced she will go down that road. that is when we could get the liquidation of the position that we spoke about going through 115. tom: commodity fx, is that where you want to be positioned? derek: it has rallied since the end of june and early july, so amidst the financial backdrop, it could go, but if the fed get their way in terms of tightening financial conditions and equity markets are lower, i can see the markets go well to that. the crash of the downside through the remainder of this year, or we get a crash in early 2023. tom: thank you. that is der

i was talking about sterling, wasn't type? how much more latitude is the bank of england have?ne more 50 basis point hike, could that be the first and last one, how do you categorize the momentum? sonja: the bank of some room to move. i'm not sure how much the market is pricing but there is definitely more in the pipeline, and more than one rate hike from the bank of england coming. they are looking to begin the quantitative tightening process. that's looking difficult because they are wanting to reduce the balance sheet and there gilt holdings, but they don't know who will be prime minister in september. that creates uncertainty because they don't know exactly what kind of gilt issuance they are dealing with when it comes to tightening. it is difficult for the bank of england to balance. dani: how much does the trajectory of sterling, the bank of england change if truss is at the helm and tries to change the mandate of the boe from inflation to gdp? sonja: i think that is a dangerous path to follow. i think this will be the wrong signal, completely wrong. it is one of the olde

its construction cost 3 billion pounds sterling.v remained drones of military aviation, and the almost complete destruction of qualified flight personnel of the apu was reported to ria novosti, citing its source in military-diplomatic circles, it is noted that this was the result of the effective work of the aerospace forces and air defense of russia in washington, now trying to help her make up for the losses, first american curators were looking for a reserve for ukraine in the countries of eastern europe and now they turned to the afghans, the very local, military, whom the pentagon threw on fate, when the us army hastily left the country. for the first time since the second world war, the uk plans to deploy its combat aircraft at civilian airports, according to the newspaper del aliexpress, according to the publication, due to the deterioration of relations with russia, the military decided to apply on its territory the concept that was developed for operations in foreign hot spots in september typhoon and f-35 fighters will be

. >>> this is the picture for currencies dollar on the back of sterling sterling up .30% we have the euro trading firm against the dollar .30% as well to 1.0230 >>> okay let's talk uk politics uk foreign secretary has come under fire for the economic plan with the deputy prime minister dominik rabb trust has favored immediate tax cuts as a way to help voters with the soaring cost of living. he indicated he would take the miss measures further. uk prime minister boris johnson said any large decisions will need be to taken by his successor next month the cap on utility bills is projected to reach 4,200 pounds from january this amid inflation and recession, the bank of england says will last more than a year. >>> the bank of england is likely to raise rates and sell bonds if an economic down turn forces it to slash interest rates. nigel wilson and mark dixon told cnbc about the potential impacts rece recession. >> people are finding life difficult with energy prices going up and food prices going up and a horrible background for many people as they struggle to pay their bills. i think i

sterling, 116 handle. we have not seen this since march 2020. the aussie dollar, july the 19th the last time we saw this. the only stocks industry group up when the csi, consumer staples. it does seem as though going into the risk assets today is the worst idea since jack kennedy said i fancy going to dallas friday. yvonne: is this just a knee-jerk reaction? rishaad: markets have been sanguine. yvonne:yvonne: it all depends on the dollar moves. we continue to see the king dollar waving its head. >> we are taking forceful and rapid steps to moderate demand so it comes into better alignment with supply and keep inflation expectations anchored. we will keep at it until we are confident the job is done. rishaad: it does seem as though investors are having a problem digesting. they will get to peek and it will stay there for a while. yvonne: the devilish pivot, -- the dovish pivot, we were not expecting it. you're starting to see that scenario pries down on the back of what we heard from jay powell that maybe he did deliver the communication with no

in terms of the move up in yields, is it the potential currency prices were sterling?it could become one, the balance of trade does not seem to be too crazy, but what we are today, we are in a massive political vacuum at a time of huge economic uncertainty because of the way we priced energy in particular. the central bank stating that there is a bigger inflation problem and the worst growth trade-off than any major economy. we are going to have to suffer and it is difficult to debate about whether they should raise rates aggressively or other people who say that if you know there is going to be a recession, why keep beating the dying animal? but it is likely to get worst -- worse before it gets better. i don't think we will get through -- i think we will get through 115 at some point. you have to have something new or different to get that level. tom: where are you hiding out? is it the commodities, fx? kit: we are backing markets slowly toward the commodity producers who are a long way away, and once we get a good trade story, it is almost as good as bad as where the

sterling, 117.62.fordham joins us right now, founder and chief political strategist at fordham global foresight. i look at where we are, and the bombing in moscow and all of that, and there seems to be an unraveling. in our world it is energy prices. in your world it is something like miss maloni with very austere tendencies, like what we see in hungry. how unsettled is europe, given the energy price overlay? tina: tom, you have highlighted some of the themes that are interwoven, really, in the global political risk outlook, where the high energy prices are being driven by the continuation of the russian invasion of ukraine. plus the long-standing kremlin policy of intervening in european politics. it is not illegal for european political parties to take funding from other countries, and furthermore this is long-documented. viktor orban's connections to the kremlin. a party in italy saying perhaps sanctions against russia are not working. while policymakers are rightly -- are rightly focusing on the in

your call first of all on gilts, and we have this outlier sterling call from ubs, what do you do with right now? steffan: yes, it's an important thing to keep watching for the boe, small open economy and we have seen catherine man talk about sterling moves more than bank of england officials tend to. she talked about going one for one with fed moves to guard against fed moves and importing more inflation, we don't think that. we see, given that we are looking at double-digit inflation, that is a concern for the bank of england, inflation targeting. francine: do you think gilt yields are too low at the moment? steffan: no, we still see a lot of room for hikes. we see neutral at 1.75%. a 50 basis point hike takes is to neutral, and we think the bank needs to go into contractionary territory, a whole percent above neutral, to bring inflation down to target. francine: i just a much, steffan ball there, goldman sachs chief u.k. economist. let's get to the first word news with laura wright. laura: opec plus will raise output by a token 100,000 barrels a day in september, one of the smallest

tom: sterling with a little bit of a rebound. 1.2105. claim support coming out. u.s.ures up seven. also the churn in washington. right now we have greg valliere, chief policy strategist at agf investments. i want to go to the broader tone, away from what i read in the washington post, the great bloomberg people, to the senator in wisconsin who is talking like he owned the high ground. ron johnson beat feingold by 52% of the vote the last time around. ron johnson is coming out with statements that you and others would suggest really because risk to the republicans. greg: i tell you, this has to be mitch mcconnell's worst nightmare. he has some bad candidates in georgia, pennsylvania, ohio. they have overdone the abortion issue which has backfired on them, as we saw in kansas. you are right. here comes ron johnson of wisconsin who says yesterday, maybe we have to change the structure of social security, make it something that has to be renewed every year, which would be a nightmare. people would use that as hostage for other legislation. are they trying to blow the sena

i don't count sterling as being in crisis at all. i want to push back very hard against any suggestion of that. >> is there a point where it is so weak that it becomes a crisis? andrew: we always have to understand the context in which we are moving. understanding the context in which the exchange rate is moving. it is a relative price. the price between us and the rest of the world. >> going back to inflation. because it is so difficult to predict, do you think your models are perfect? andrew: this situation and for sizes why -- central bank is so important. in the 25 years of the mpc, this is, our framework is most put to test. we will get information -- we will get inflation back to target. that is monday message to people. of course it is very hard. this is very hard for people on low incomes in this country. as concentrated as it is in energy in particular. but if we don't get it under control, it will get worse and we will have to raise interest rates more. guy: that was the governor of the bank of england andrew bailey speakin

however, it was saints sterling who won the score , but lava and armstrong were still in the first halfht forward southampton and eventually brought victory in their team 21 standings, chelsea is still in eighth place. saints just come seventh. their work is not easy. we work around the clock, that is, it is probably impossible to completely disconnect from the production process from work. this means that it is now under the responsibility of the airline. every day you have to face different tasks, and sometimes very non-standard people. they come up with a trip to take the most unusual things. well, probably the most unusual thing that happened was a south african vessel with liquid nitrogen, which was smoking right at the airport, all the characters are completely different, what unites them is the desire to achieve the best result, we are an export company, 85% of our products are exported and only 15% - this is in our domestic marketers and our desire to provide a good service to transfer passengers with maximum safety and comfort, watch project one day on our tv channel. pavel zov

sterling, the bank of england, sterling and downside is quite attractive, the euro-yen downside is quitective. tom: give us some numbers. my head is spinning. jon, take notes. please. i have lost my surveillance pencil. give me a yen number. short yen now is to what? mark: we are expecting better u.s. data, so i think we get a dollar-yen reversal to 133. we could see another half percent move higher in euro-yen i think we are going through 130. i think that that would be a good short-term set up. tom: a year from now are you at 120 two standard deviations out or strengthened to 115? mark: we have yen at 120-ish. that environment will be quite bullish for the yen, particularly oil prices and the trade shock, which would start to reverse. tom: does this work for my 401(k)? jonathan: how relieved are you that foreign-exchange is no longer boring? mark: it would be great if the regime did not change every week, but yeah. [laughter] yeah, people care about fx again. jonathan: dear member that time that went on for years that no one really cared about foreign-exchange -- do you remember the ti

but then sterling stepped forward, his first deflected over the leicester keeper.d time in four games. and chelsea did this with their manager suspended and watching on from the stands. i knew it was coming. it was a good view, and a lot of support around me. so i have this experience now, there is no need for a repetition, but we make the most of it, it was a very good view to analyse the match, but of course very unusual to not have direct contact at the sideline. well, at one point this afternoon brighton and hove albion were the team at the top of the premier league. they're now four games unbeaten to start the season, and nine games unbeaten overall in the top flight after a 1—0 win over leeds. everton just want one win. they were six minutes away from getting their first of the season today against brentford, but a late equaliser from the home side stopped frank lampard's team, who had earlier scored through anthony gordon — a player who may well be on his way out of the club. a disappointing afternoon for everton late on on merseyside, a good day for anthony

i think it was locked here where the journal, if the sterling journalists tried to really on the state of freedom in china and how supposedly constricted it is in comparison to the west and fast forward one year. and i'm sitting here in moscow with my channel being taken all the air, all social media for explicitly legal reasons. to me, it's not even ironic. i think there's something very to tell the terry and then that that's why i wanted to try to turn the table here and ask you about this. they've all media freedom in the west. as you see, i think at this moment we see it's really clear what they mean by freedom of press, right? when freedom of press is in other country, they're defending it even pay money. the latest us competes act allocates actually $500000000.00 us dollars to you know, false coastal coord independent media in, in china, basically to malign china. but when it comes to freedom of press in their own countries, i'm not sure whether they will be leading by example, despite their claims. as you said, r t has taken all which is out of the reach by the regulators. i und

stay little bit of sterling response. some weakness right now, but the headlines in the u.k.s morning on the front pages of the newspaper, unbelievable for this bank of england, brutal. tom: for those of you waking up in america, to describe the frenzy, the heat, the fury across the united kingdom media over governor bailey yesterday, i would call it unprecedented. jonathan: mohamed el-erian, who i will catch up with this morning, he wrote on bloomberg opinion almost welcoming the honesty of this central bank to tell us what they think about the future and how wide the range of outcomes could actually be. they are acknowledging all of those things. could you imagine if the federal reserve came out and did those things? tom: i cannot imagine. jonathan: i don't know if the fed could do anything like that even if they thought it. tom: it is a different responsibility, but i cannot imagine, there is no question about it. what is interesting was bailey's comment. you have to believe we are going to see the path, the trajectory rapidly from this really grim view. jonathan: we are t

for the last 8 years, government forces have been selling their own people because of differences, sterling language, less costly, ations culture, history, and their country's future. the world watched the never ending bloodshed for years . sci fi agreements were repeatedly broken. the exchange of fire continued, but it no longer made the headlines. nursery, schools, hospitals, or bald ruth . there was no international outcry. and even now when ukrainian forces are selling ladies killing innocent civilians including children, it's barely mentioned by western media. a nice to leave a helix in black with both thought dumb. i will surely do both of us and we will see do those to come all is good movie it. so that literally was looking at a new good boy and with a solution you wish i did a lot of his with really post it in the math. sure. yes. the with because i think 11 you've got enough for my she is much than upset conclusions with lunch that a how to shop throughout the missed doc, a city shall to the some fits a with him nationally also stuffs him. you cannot bellagio any sitting on the ho

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sterling language, less costly, ations culture, history and their country's future. the world watched the lever and in bloodshed for years cease. fire agreements were repeatedly broken. the exchange of fire continued, but it no longer made the headlines. nursery, schools, hospitals, or bald ruth, there was no international outcry. and even now, when ukrainian forces are selling the east killing innocent civilians including children, it's barely mentioned by western media. a different branch with both all the models you need to do with those to how well is good movie. so that initially was looking at a new toy and was a new so a new school inclusion with really push it from the math. sure. you know what i need them with because i think i got enough for my she his mom enough that concluded with the, the billing to none with him. i had a shock with miss doc position up there. the some spits a bunch of on you and you also stuff him, you janet valesvi needs sitting on the for the human and yet of what they tell her that the familiar with a passport dannetta. annette grant

sterling language less closely ations culture history and their countries feature. the world watched the lever and in bloodshed for years cease fire agreements were repeatedly broken. the exchange of fire continued, but it no longer made the headlines. nursery schools, hospitals were baldwin's there was no international outcry. and even now when ukrainian forces are selling ladies killing innocent civilians including children, it's barely mentioned by western media. a black with those thought dumb models you need to do with those to come all is good movie it. so that initially was looking at a new good boy and was supposed to learn to use a uniform solution which i did a lot of these with really post it in the math. sure. yes, i did them with because i don't one you've got enough for my. she is more than upset conclusions with lunch that on the the, along with the mom had a shock with mr. duck, a finishing up there to some spits a bunch of on you. and you also stuff him. you cannot bellagio need sitting on the whole document. i need a book. they tell us that the fun

it is weighing on the euro and sterling. the u.s. is becoming a net commodity exporter. a lot of liquid natural gas. you have terms of trade being more of a driver of fx. i think this is an underappreciated story and something that will continue to drive dollar strength going forward. jon: there has been so much focus on what fed players have said this week in the commitment to higher rates. there has been an emphasis with what is happening with the u.s. economy today. weakening gas prices is a near help to americans. the jobs market data we have seen has stayed relatively strong. the idea the economy to a certain extent can handle the higher rates. erik: that is spot on. you look globally at the economic situation in places like china and europe relative to the u.s. not only are we marginally improving in the u.s. as gas prices fall, the situation in europe and china looks more and more challenging every day. the growth divergence continues to play into the dollar strength story and the commodities piece. taylor: when you take a look at the commodities, are you confiden

sterling language, less costly, ations culture history and their countries feature. the world watched the lever and in bloodshed for years. sci fi agreements were repeatedly broken. the exchange of fire continued, but it no longer made the headlines. nursery, schools, hospitals, or ball ruth, there was no international outcry. and even now when you claim of course, they are selling ladies, killing innocent civilians including children. it's fairly mentioned by western media sometimes with those tote don't models you need to do with those to come all is good movie it. so that literally was looking at a new good boy and was told i'm trying to use a new school inclusion with them. i mean, you're really pushing the math. i'm sure you're still on the with because i think 11 you've got enough for my she is much than upset caputo did with the marcia coastal director miss doc position with a with him national stuffs. him, you, janet valesvi needs sitting on the whole document and i need a book date that i need for the vision of possible donato, annette grant. g m. a in fucki

sterling language, less costly, ations culture, history and their countries feature. the world watched the lever and in bloodshed for years cease. fire agreements were repeatedly broken. the exchange of fire continued, but it no longer made the headlines. nursery, schools, hospitals, or ball ruth, there was no international outcry. and even now when you claim of course, they are selling ladies, killing innocent civilians including children. it's barely mentioned by western media. sometimes with both all the models you need to do nothing with those to come all is good movie it . so that initially was looking to continue to go to boys with a new school inclusion you wish i did a lot of his with a really push it from the math. sure. you're still on the with because that even when you got enough for my she is much than upset conclusions with lunch that on the the one with how to shop with the miss doc position up there, the some spits a bunch of on you with him. natalie also stop him. you ah, allajay needs are sitting on the for the human and yet of what they tell us that