back to you. >> steve sedgwick, thank you for that let's bring it back here to the u.s. shores. two-thirds right now of the s&p 500 stocks are in correction territory, a pull back of 10% or more 20% are in what some call a bear market let's bring in george goncalves from nomura and larry macdonald, the editor of the bear traps report george, we will start with you rates have been at the epicenter, so i've been told, so everyone has been told about the market turmoil we've been seeing as we see rate stories play out, is it fair to say they will continue to be a driver of the volatility that we are seeing? >> without a doubt how fast it unravelled was impressive last week and earlier in the month good news, good data, it was good for the equity market and the bond market. rising yields for the right reasons. a big snap higher, and that spooked the markets. the 3.25 level is a critical level for markets to digest. >> as we talk about the movements in the markets, we have seen a massive selloff and one that looks like it will continue today does it feel like to you that there is a b

negotiations are hitting a small, or we'll call it a big snag at this point, after a weekend of talks steve sedgwickin london with the details. steve, it still comes down to the border between ireland and northern ireland, right? >> reporter: yeah, absolutely, dominic. and so many politicians have told me personally and others at cnbc for a long time that we're 85% to 90% there, we're really getting there. we've just got one final hurdle to get over, but it's the same hurdle that historically has been such a big problem, i.e., the border between the republic of ireland and northern ireland, the latter, of course, being part of the united kingdom, and politicians in northern ireland, including the dup, which props up the uk government because of their ten mps, do not want any differentiation between the rules for northern ireland and the rules for the rest of the uk they're worried that that would mean they were aligned to the eu and not to the uk as such. so, what was the solution? the solution from the prime minister and eu is to come up with a customs union i.e., for a certain amount of time, the

i would suggest that's their biggest fear >> steve sedgwick, we knew you could handle that so well.e'll see you in a bit thank you. >>> still to come, we're on washington watch you have trade talks, the future of the supreme court, all dominating today's agenda. that's not washington. that's a rain storm somewhere. that is tropical storm rosa, it's set to hit the u.s. all this as another storm makes its way towards the country. stick around well, today you're a little busy transforming your call center. dealing with millions of customers a year, like this one. no, i'm pretty sure i didn't order a squirrel playing a guitar. that's why you work with watson. it works with your systems to resolve calls faster and improve customer satisfaction. i detected fraud and helped reassign a new credit card. honey, they're overnighting us a new card. woooo!!! woooo!!! for ai that works with tools you already use, choose watson. hello! the best ai for the job. yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 op

s steve sedgwick in west minister. >>> christina hooper join us now. good to see you again, that you know for joining. let's start withar saudi ia. clearly oil market is something people think about. a lot of analysts have gotten ahead of themselves thinking if there are u.s. sanctions against saudi arabia, maybe we could have anotheril embargo, and sharply higher oil prices. that. start with is that possible do you think? >> that's certainly a possibility. we heard from saudi arabia this weekend making something of a validate threatg suggest they would retaliate more in a harder fashion than actually the sanctions against them. and also alluding to the fact at they do play an important role in the global economy, and that seemed to be suggesting specifically the ability to embargo oil. so that takes us back to the horrors of the 1970s with thato embargo. >> which some of us remember well. the other part of the story,e crown pri salman has wanted to diversify the economy it's also now dependent on the oil market. he was in the united states trying to r

i'm delighted to say cnbc's steve sedgwick joins me on set steve, thank you for letting me go back tou're welcome. >> tell us what's happening with bp >> luke at tyou look at the bano get into the weeds i do the same with the oil companies. sometimes you don't have to get into the weeds, it's just there for you. as you said a massive beat 24% beat on the headline figure as well. that's really as far as you need to go. you could say the cash flow was in line but we want more in this but the fact is this is a company we all know what transformed itself under the ceo bob dudley and the cfo brian gilroy we were asking brian on set today whether the volatility of that outlook, whether it's saudi, iran, the opec group whether that was effecting the market >> if this was five years ago and oil price stocks were at the top end, beyond the five-year averages, i don't think these sort of geopolitical moments like sanctions or oil being taken off market would have the effects it's having today. we're back below the five-year average. when the oil stocks run below the five-year average it means y

boris johnson who will take stage at the party conference later today earlier nikki morgan told steve sedgwick economy will take a hit from brexit >> we are seeing peoples household income has fallen. and remember, brexit has not happened yet but investor sentiment is going down high street is struggling. inflation is running higher than expected wages have not quite caught up i think the governor of the bank of eng land is doing his job which is reminding us that whatever we do there will be a hit to the economy >> let's get out to steve up in birmingham what can you tell us >> thank you very much well, there was the chair of the treasury select committee answering my question about project fear, have we all been too cautious, too worried about the ramifications of brexit, soft or otherwise? let's get another view on that helen dickinson joins me my question to her was has there been a material field that has not been happening due to brexit or not >> i think retail sales oscillate and have been growing 1% to 2% a year, that has do with how much money people have in their pockets we've seen w

. >> steve sedgwick joins me for more on this british bank. is it all about brexit uncertainty? >> i think your skepticism is unfounded. this bank is doing okay. you and i still own 63% of it, which is not great news. the british government would dearly love to get rid of it like they did with lloyds. the path to recovery have been torturous. it's been smoother for lloyds. when we look at numbers, i found four or five things that make me think, i'm not so sure about this story one, it's a miss it's a numbers miss. they were expecting 507 pounds, they came in at 448 pounds impairments rising so many times we talk to banks all over the world and say how are you looking in on litigation how do we look at impairments? we want to see that go as low as possible this is moving the wrong direction. impairments up to 240 million pounds from 143 million from the same quarter last year the core tier 1 capital ratio, nobody can argue with a 16.7 figure, but then disappointment elsewhere. the banks used to pay great fat dividends before we had the gfc. then they stopped. this dividend which

steve sedgwick joins us now with more i said that for you, how are you? actually but i think your read into me might have been out of date. we were close to a deal. and now i'm not sure we are. seriously. things have moved very quickly when we booked this outside broadcast, you have to do a little bit of planning sometimes, we thought we were doing it because we were close to a brexit deal when we got here today, it looks like we're no closer -- if anything, we might have gone backwards a bit. a little o is -- of the language has gotten more technical. and the key issue which they're still floundering over is the border between the republic of ireland. and what the eu suggests is maybe we can treat northern ireland as a special jurisdiction and it could be subject to eu rules whereas the british are saying under no circumstances can that happen as well of course there's a slim majority for mrs. may's government so she has to have the backing of the northern irish. i don't think we're closer to a deal the timeline is definitely slipping back to you. >> tha

steve is a bail bondsman with whom delaney has done business in the past. >> $50,000 for a criminal threat. >> the man whose life delaney allegedly threatened is the man who has him incarcerated, sedgwickeriff jeff easter. >> for saying let's remove the sheriff from office, that's a criminal threat. >> how's it going? >> it's going. >> but that's not all delaney was alleged to have said. his problems began a day earlier when delaney obtained a court document he wrongfully believed could prevent his girlfriend from seeing her young children until she completed a drug program. >> i got time to make a phone call? >> then delaney, who is not their biological father, brought the form to the children's school in hopes of picking them up. that's when things began to unravel. >> i wasn't disrespectful with you. i didn't raise my voice to you. i can state my opinion. >> his brother recorded the encounter delaney had with the pair of sheriff's deputies in front of the school. >> this gentleman here has a problem with my past criminal history. >> they were summoned by school administrators. >> badge or no badge, he still has to show us common respect. >> i give you much respect until i don't get