everyone percent china slows by .4%.ws global growth tom: a global calculus with joyce chang and steven wietingtionals in the united states? they are exporting their economic slowdown. how do multinationals adapt? steven: it depends on which multinational and if you are dealing with internal demand inside china. nike could be different. or, these are tradable goods which have sharp contractions and recoveries. whether trade uncertain t has pulled forward certain -- uncertainty has pulled forward certain activity, and we are in a recovery because we have not completely broken the supply chains. we have a great deal of displacement. when you have the two biggest economies in the world in a trade dispute, it is slowing both economies and will impact the world on a net basis. some countries have seen a large pickup in activity. broadly within asia, it seems like a gentle deterioration. francine: when does this hit the consumers? this is probably the question everybody wants to know, because if it hits the consumer it gets the recession closer. joyce: i don't think that consumer will lead us into re

still with us, steven wieting, citi's chief investment strategist and chief economist.ave reduced some of your positions. you are still overweight in the united states. you still like japan. you still like the u.k. what about btp's? what about the bund market? steven: if a particular country like italy can tighten relative to the core, that is possible, but these are already substantially low yields for the case of italy. if you think about the kind of mania we almost had in the bond market in august, where you had some 30 year debt in germany and switzerland have a 10% monthly return, the notion was that we would be able to drive massive capital gains in these bond -200ts as we could get basis points, all the sorts of things. just don't comport with the notion that used to have zero yielding cash as legal tender in these economies. the ecb has lowered its rate to -50 basis points. i'm not sure if they would go any deeper than that. -75 basis points and switzerland. unless we change our financial structure and have a truly cashless society, it becomes harder to get yiel

. ♪ todaya: coming up later on "bloomberg markets," steven wieting, citigroup chief investment strategists flash. another big name has fallen in the retail apocalypse. fashion chain forever 21 filing for bankruptcy protection. liabilities of up to $10 billion. the la-based chain has more than 800 stores globally. the plan is to close most of the stores in europe and asia. gold is set for its best run in eight years. this july it is up almost 6%. that marks goals straight straightarly quarter early increase. -- quarterly increase. concern about the china trade dispute also has investors looking into gold. i am viviana hurtado and that is your bloomberg business flash. alix: thanks. it is time for bottom line. we take a look at three companies worth watching. sonali basak and brooke sutherland joined me now. first up is looking at credit suisse and its board meeting looking into this spying scandal. fallingyou see shares five days in a row last week amidst the scandal. you now see what will become of the scandal and who will be held liable. the credit suisse board is likely to back the ceo