the stoxx 600, biggest week of losses so far this year.the bond market, a month of losses for the first time since december 2013. yields in germany going up once again. 0.3 8% is the yield on the 10 year. the fx market, the euro is taking a dive. the final reading of the pmi through the morning. i will take you to germany later. looking at aussie dollar before the rba rate decision. expectations heading for a fourth the day off losses. up next on this show, we will shift stateside. mcdonald's trying to put gold that the to the golden arches. it may not be that easy. more of their missteps. ♪ jonathan: good morning and welcome back to "on the move." i am jonathan ferro. 30 minutes into the trading day. a picture of the markets. the ftse 100 is close for the bank holiday today. the stoxx 600 also lower. the ftse down. the market moves for you. some of the top stories add to bloomberg. australian regulator found no evidence of misconduct as it looks it to the dollar ahead of the central-bank's decision. the dollar rose ahead of the monetary p

the stoxx 600 declining to a one-month high.ng compared to what's happening in asia. you the dollar/yen story rising to a 2002 high. the nikkei, that rally goes on and on an on. the best gain since 1988. it is china that really has the focus. brokerages tightening lending. margin lending. the shanghai dropping 6.5%. in isolation, it looks like a lot but of course you need the big one year chart to sell that story. i want to lift the lid on some of these indexes and get straight to the top moves with caroline hyde. caroline: kingfisher up 3%. big in the u.k. p.m. you know the big chain but also large exposure in france as well. the female chief taking the helm. people liking what she is doing at the company. of course this is all about home improvements. retailing. the u.k., it has been particularly good for them at the moment. better than expected sales. they have been closing stores. up 15% in terms of sales. it was better than had been expected. meanwhile france remains soft. down .2%. people lying the new strategy at kingfish

the stoxx 600 is down. the ftse 100 and cac 40 are both down 1.9 with germany leading the way down 1.35%. >>> welcome back. these are the headlines. the global market sell off accelerates what the dow called to open down in triple digits. nepal is hit by a 7.3 magnitude earthquake near mount everest and goldman sachs cuts it's forecast but says the recent rally is premature. >> john kerry landed for high level talks with vladimir putin. on the agenda is the conflict in ukraine as well as syria and iran. jeff joins us live with all the latest. jeff. >> yeah, good morning. no great change from when i last spoke to you 40 minutes ago. we know that mr. kerry is on the ground. part of his agenda is a relatively simple wreath laying ceremony and then he will talk with the sovereign minister and then president putin. number of issues on the agenda syria. washington is keen that there be some movement that brings peace to that war torn country at this time. iran on going negotiations and washington would welcome su

the stoxx 600 down by 3%. the dax just had its first month of gains so far this year. german 10-year, 15 basis points last friday, climbing all the way up north by the end of the week. ♪ jonathan: good morning and welcome back to "on the move." on jonathan ferro. 30 minutes into your trading day, let's look at one market open. ftse 100, there we are, down 0.3%. that is the ftse. let's check in on the week. stoxx 600, a week of losses. down by over 3% over the week. euro-dollar up by 3%. no surprise. the german bund what a move over the week. not skyhigh if you just look at that, but if you look at the move two weeks ago intraday, we drop below five basis points. as for brent, another week of gains for oil, the best month since may 2009. let's dig into some of these indexes. lift the lid on the ftse 100 and talk about bailed out lender lloyds. first-quarter profit rising 21%. manus cranny joins us for a little bit more. james bevan is still with us. manus cranny, a beat. manus: as you just said, pi for profit k for capital. impairments down nearly 60 percent. i think th

the euro stoxx 50 also looking great this tuesday. across the atlantic on wall street, the dow, let's call it flat. and the euro plunging as we said, trading at a value of one u.s. dollar 1150. >> train drivers going on strike again. this new strike is open-ended and threatens travel chaos over the coming holiday weekend. >> the union's demand a 5% pay hike. shorter working hours and the right to represent other rail workers. >> the last strike ended just over a week ago. >> is now the ninth strike in their dispute with rail operator . >> air trying to blackmail society. it is hard to feel much sympathy with them. it is a power struggle. nothing more. >> i am really annoyed. >> many companies are angry. urgently needed good with -- goods will remain in limbo. business groups estimate the strike is costing the economy 100 million euros each day. >> those figures are about right and they will increase every day because a strike affects the ability of countries and their customers to plan. that is why the costs rise so sharply. >> there

euro stoxx 50, the pan-european index fell by a similar amount. the industrial average is still trading. it is close to half a percent. the dollar is pretty much the same. >> reports coming in that the islamic state has taken control of the airport and the libyan city. it is the latest gain by militant groups. >> a bombing killed three people in saudi arabia. an ims bomber killed 21 people in a similar attack in saudi arabia. >> the kremlin is redoubling its efforts to censor free stream -- to censor free speech. >> as our correspondent in moscow found arts groups are coming under fire as well. reporter: a look at the government's crackdown on russia's opposition. the police threatened to close the theater, claiming the building was unsafe. it is a clear case of government intimidation. >> we are an independent private theater that finances reductions with its own money. now we don't know what is going to happen. >> activists say it is all part of a new round of crackdowns on freedom of speech in russia. president putin has declared the reporting

a great light to go buy stocks on the euro stoxx 600?nastasia: that sounds like a dangerous proposition but i would still be optimistic on european equities. no doubt they have to meet certain objectives and have to show earnings growth to follow through the confidence investors have given to european stocks. i would still i and use this opportunity to add to risky assets in europe. with ciscoe u.s., earnings are out. it does signify how these big tech companies like cisco and change in ave to industry that is quickly changing. anastasia: john chambers did an interview where he was very optimistic on the sector and i completely understand why. what tech is going through right now is not just the cyclical tail end because companies are using cash flow to upgrade their technology, but it also going through a secular tailwind. we want all things digital and we want it all the time. when you think of a company like cisco, maybe it's boring and has been around for a while. but it is the piping, the infrastructure, so even in the case of cisco

came out today talking about chinese 23%ks, saying they are overbought after this huge run-up in the stoxx, and they are in a bubble. joe: the chinese market has been really fun to watch. it's incredible. on thursday, there was a 6.5% crash in chinese stocks, but the marketrought back to where it was on may 22nd. variations of the chart have been going around for a while. if you look at the rise in the stock market, it coincided with a huge surge in retail trading accounts, the number of people who want to step up to the table and play has exploded in recent months. alix: one of the big reasons why, if you take a look at loan chart abouteat that. loan growth is 15% year on year, but deposit growth is at its lowest level in 15 years. the idea is that people are not leaving their money in banks. they are moving it into the stock market. if you have a bank loaning but the deposit base is lower, what are they going to do? pboc has to get in and prop up banks to fill in the gap in some capacity. joe: the bubble goes on and on. -- that says it all. we want to bring in tom lee and carl riccadonna

the euro stoxx also up. in new york, the dow is currently in positive territory. the euro currently valued at $1.11. the founder of the french far right national front, jean-marie le pen, has been suspended from the party. anchor: this comes after he refused to hear a this -- refused to attend a disciplinary hearing regarding his views that nazi gas chambers were a detailed history. he has been involved with a dispute with a daughter who has been trying to distance the group from its anti-semitic image. something little more pleasant -- written's oil baby has a name -- buckingham palace palace has just announced she will be called princes charlotte elizabeth diana. anchor: princes william and -- prince william and his wife, kate, say it honors both the child's mother and grandmother. she received her first military honors at the tender age of two days old. anchor: traditional gun salutes were fired near tower bridge and hyde park in london. stay with us. we will be right back. >> shaken, not stirred. are you sure? dirty water is the only drink millions of children

the euro stoxx 50, an even stronger day. in new york, where they are still trading, the dow jones industrial average a bit more than .75% up, and the euro slightly rising against the dollar $1.0890. >> if you do not bike but drive a car through the city instead you will know what i'm talking about -- you've reached your destination, but surprise, you cannot find parking anywhere. >> wouldn't it be great if someone told you where to find one? german engineering giant siemens has developed a tool that aims to solve the eternal parking problem. >> parking spots are tough to find in european city centers. locating one takes up valuable time waste gas, and it's bad for the air. the irritating search is practically a ritual for many, and it can take the fun out of any trip downtown. an engineer at the zaman's company in munich wants to do something about the city's chronic shortage of parking space -- an engineer at the siemens company. >> about 30% of the people driving cars in the city are cruising around for a parking spot. it'

the stoxx 50 is in the green. and the euro is trading up at $1.14.resident of the eu parliament, martin schultz has been awarded the international charlemagne prize. anchor: the award recognizes contributions towards european unification. he wrecked -- he accepted the prize, and said he hopes to make europe more accessible to all europeans. >> martin schultz has been described as "mr. europe," a committed european and the face of the european parliament. he has been in brussels fighting for a stronger eu for 21 years. he passionately defended europe in his acceptance speech. mr. schultz: stop blaming brussels for all the things that go wrong, all the unresolved problem, while pinning every success to your nation. >> schultz is a passionate politician not afraid of speaking his mind. he recently called on eu member states to take on more responsibility in dealing with the refugee crisis in the mediterranean. mr. schultz: the decision on whether to make progress will be made in brussels, but only geographically speaking. it will not be made in brussels

the euro stoxx 50 the pan-european index also off by about 1%. in new york where they are still trading, the dow at the moment also taking a downward course. more than 1% down at the moment. the euro also down $1.08 70. china has deep trade ties with latin america but limited political influence, which is why the country's premier has been touring the region in recent days. >> he signed a series of investment deals in brazil, colombia and peru. he's now in copper-rich today -- copper-rich chile for the final stop of his tour. >> chile pulled out all the stops to give the chinese guests a warm welcome. key investment and business deals are mistake. both countries have traditionally had very strong ties. in the 1970's, chile became the first south american country to establish diplomatic relations with modern china. they signed a free trade agreement in 2000 i. china receives a quarter of chile's exports. mutual trade last year his 35 billion euros. the purpose of the premier possible as it was to see that figure grow even more. >> chile needs a st

the euro stoxx 50 also slightly lower closing friday at 3679 points. the dow jones showing 18,272. the euro trading for $1.10. >> the u.s. state department has released the first batch of e-mails said to be received by hillary clinton when she was secretary of state. the e-mails deal with the attack on the u.s. mission in benghazi libya, in 2012 when four u.s. diplomatic staff were killed. clinton, who was out campaigning today for next year's presidential election in the united states use a private server and an e-mail address rather than a secure network. >> and historic referendum has taken place in ireland today. it's voters say yes, the country will become the first in the world to adopt same-sex marriage by popular vote. >> the irish are being asked to say if they support same-sex marriage with a simple yes or no. there has been opposition to all of this from the catholic church but the main political parties back the reformed. opinion polls suggest it could even pass by 18 up to one majority. polling stations close later tonight. >> let's go live to double it -- dublin. have

the euro stoxx 50 was little changed. in the states, trading still underway. investors cautious following comments from fed chair janet yellen that stock prices might be too high. one euro will get you 1.1270. a decade ago, the memorial to the murdered jews in europe was inaugurated in the heart of the german capital. brent: it was bert -- built after years of emotional debate. there was concern it would become the target of new nazi attacks -- of neo-nazi attacks. today, it is one of berlin's most visited sites. reporter: it's easy to get lost within this monument. to feel trapped, threatened, without orientation. thousands of people wander among the columns each day. for many, it is a moving experience. >> it starts off slowly, but then they engulf you. >> i think i can have a sense of isolation and fear and wondering what is going to happen next. reporter: the holocaust memorial is the brainchild of a journalist who campaigned for its construction for many years. he -- she says it is a sign of germany taking responsibility for the not the cost -- the hazi'

the euro stoxx 50 was unchanged. in the states, trading is still underway. the u.s.nomy is dragging down the dow, currently trading in the red. the euro one dollar, 1230. anchor: in a week's time britain will be heading to the polls to choose a new parliament. it is one of the closest run elections there in decades, with conservatives and labor swapping places in the polls. neither of the parties is expected to win a majority. anchor: other smaller parties are expected to do better than ever. that includes the u.k. independence party or ukip. one of the areas it is targeting grimsby. ukip blames the town's problems squarely on immigration and the european union. our reporter found that message is going down well with some of the locals. ♪ reporter: grimsby once boasted the biggest fishing port in england, but those days are long gone. today this town on the northeast coast suffers from above average unemployment. >> ♪ was an ancient mariner ♪ ♪ reporter: they meet at the dock for rehearsals. >> i describe it as isolated from the rest of the country. you don't have to

the euro stoxx 50 doing a bit better. across the atlantic on wall street, the dow down slightly in 18,284 point. the euro trading at a value of $1.1120. creating an efficient and honest tax system is a crucial audition for any nation. the german tax system is respected as an international model, and many nations are seeking dialogue and the exchange of valuable know-how. >> this week, the german society for international cooperation has been hosting 27 students from african nations seeking to improve their systems at home. >> it's a big adventure for frank from malawi to be in berlin, away from his job back home in africa. >> is a train come true, -- it is a dream come true, and most especially for me, a great time to get out of our country, and of all places, coming to berlin in germany. it's one of the best things that has ever happened to me in my life. >> they both work full time back home. in berlin, they are students once again, briefly, along with three dozen africans from 13 different countries. their professors a

the euro stoxx 50 doing a bit better. across the atlantic on wall street, the dow down slightly in 18,284 point. the euro trading at a value of $1.1120. creating an efficient and honest tax system is a crucial audition for any nation. the german tax system is respected as an international model, and many nations are seeking dialogue and the exchange of valuable know-how. >> this week, the german society for international cooperation has been hosting 27 students from african nations seeking to improve their systems at home. >> it's a big adventure for frank from malawi to be in berlin, away from his job back home in africa. >> is a train come true, -- it is a dream come true, and most especially for me, a great time to get out of our country, and of all places, coming to berlin in germany. it's one of the best things that has ever happened to me in my life. >> they both work full time back home. in berlin, they are students once again, briefly, along with three dozen africans from 13 different countries. their professors a

we see very little change when it comes to the stoxx 600.s only marginally higher. not a lot of action there. we will keep an eye on what goes on the german bond market because it has been so much of a driver for what happened here as well. erik: the parade of all-star guests continues here in las vegas. our next victim's john burbank the chief investment officer at pass for the capital. welcome. you are having a great year. what's working? john: what was working until march 18 was the dollar and anything correlated to the dollar. we organized our portfolio around that believing we were going to have a strong dollar. the fed said there was more economic weakness. the dollars the biggest factor and since then, the euro has rally and -- has rallied and a pullback in european equities and we've had a pullback in u.s. equities recently. i think that is because bonds have been selling off so much and risk parity guys are blowing up. this is a forced leveraging of credit and i to gets pulling down equities with it. if the dollar is not going to be

the stoxx up. -- stocks up. and they have a lung cancer drug . it is a lung cancer drug with a survival rate exceptionally well. syngenta up. reuters says the deal depends on the sale of the business. bloomberg intelligence gives a little more depth to china, europe, and the u.s. antitrust suggestions to do the deal with monsanto. is it a reprieve at the moment? would you be tempted in .72%? we are seeing substantial foreign buying in the bond market, in the u.s. bond market we haven't seen for quite some time. it is one of those moods out there. is it an attractive yield relative to an equity yield? that is the debate for investors. jonathan: if you asked me this time last year is 72 basis points attractive on the german yield, i might have said no, but given where it is i might say yes. the shake i comp as it is down for most of the trading day. -- the shanghai composite down for most of the trading day. >> we are seeing chinese stocks at the lowest level in nearly a week. utility and telephone stocks led the losses. the property companies in s

you can get doomsday scenario, it is worth considering that the stoxx 600 is still up 16% for 2015.is a remarkable gain. the volatility, the route in the equity market, the catalyst is right here in fixed income. , italy, france, spain, germany. equities selling off, bonds is selling. the euro getting a little bit stronger. are up another 8/10 of 1%. it has been a weaker dollar. i will bring up sterling for you. it goes higher by the expense of 1%. up a half of 1%. hi. one right here, a 2015 back to you. david: the outlook of toshiba shares, at least seven banks have stopped coverage of the stock. they're basically say that we will wait. investors really hate that raise, accounting irregularities. is abouthis understated costs across some of these other projects. themght actually see revised downward some of these previous earnings reports at some point in the future. now, to the top stories, the $3 billion legal pot business in the u.s. cannot find a place to stash is cash. banks and credit unions were doing business with companies in the marijuana trade. it is now legal in 23 stat

low,re finishing on this the dax 40 was down as well and the stoxx 600, just a week of losses produced. the session for the dax was rolling over and accelerating against the close and exacerbated by that u.s. consumer confidence number, and on the back of that, the biggest drop in u.s. consumer confidence in two years. there is the complete u-turn in the euro, it was a against the dollar at 1.143. relationshipou the that was not a play today, stocks dropped, bonds did not, a rally in european asked income. throughout much of the day, throughout the periphery and in the core. and french bond in yields were down by five basis points, but keep a lid on those in yields, keep them under 1%, that bond route has no because about that. but here is a big call for you, it could be close to the end of that bond rout right here in europe. back to you. mark: jonathan ferro in london. shares of netflix are at a rise to an all-time high dig a -- all-time high today after bloomberg news reports that netflix is and talk to enter the chinese market. netflix is talking with possible partners in china --

if valuation drop precipitously last month and the valuation, the dax is nearly 6% below that stoxx 600 and money flowing at the fastest rate in nearly a year at the dax. ubs quite likes it. less open doesn't let's open italy. i leave you with this. telecom is down. -- let's open italy. decidedly in the red. back to you. jonathan: of that is the market open is this monday morning. a big day on friday. the biggest day for european equities this year. even what the chinese cut-rate down 16 points. the dax joel -- dropped by 33. the big story of the last 24 hours has been the china rate cut for the composite gaining as the people's bank of china cuts interest rates for the third time in six months. the country economy struggling to meet growth targets. we are joined by kevin hamlin in beijing. great to have you with us. why do policymakers act on a random weekend? and they seem to do all the time can we expect more? kevin: i think it is increasingly clear that the economy was struggling and the growth target of about 7% was probably jeopardize and that showed up in recent export numbers, i

nejra: let's start with one of the big gainers on the stoxx 600. that is syngenta.r that projected takeover offer from monsanto. thinking the offer was too low, execution risk too high. it is now building up its defenses as it prepares for a higher possible bid from its u.s. rival. these people say that syngenta expects monsanto could come back with a bigger bid as soon as next week. that is syngenta. deutsche bank is declining today. we've heard that it might boost the number of assets and wealth management staff in asia this year as part of this revamped strategy to boost growth and what deutsche bank said is that it might make some bold moves to take asia into the next growth phase. wealth management is one of the few areas where deutsche bank is expanding. it is cutting back on consumer and investment banking. finally, vodafone, another gainer. investors shirking off the fact that its debt rating was lowered by standard & poor's. the reason, slower return to growth and the prospect of more spending on spectral licenses. vodafone has been rated the third lowest i

people are still buying their sports stuff .espite all the trouble in fifa that's the best mover on the stoxx today. biggest diys the retailer in all of europe and people are buying their diy goods. like for like sales are up. the national bank of reese is interesting -- lots of bad news for greece today. we heard the ecb talking about eurozone as athe result of those negotiations and you can see that right there with that stock. euro-dollar, the euro basically held its own today, but the same cannot be said for the pound which was down just a tad. the real story is gdp growth. it came in at .4% after the revision for the first quarter. .3, i should say. economists were looking for .4% and a punished the pound as a result. pimm: ryan chilcote in london. coming up on the bloomberg market day, nouriel roubini says he expects greece to find pots of money. will have more insights from the famed economist. and the flood of original content being created is called the golden era of tv. but is it proving to be too many choices? costco wholesale, the largest u.s. wholesale chain reporting earnings th

the stoxx 600 heading for a third day of losses. a similar story in cap -- in asia.iggest three-day loss since june. i want to lift the lid on these indexes. we have numbers from the telecom giant. earnings rising and the company sounding upbeat and here is caroline hyde. caroline: we're looking at what was the former phone monopoly. the biggest provider of the internet. numbers looking pretty good. the strength of the british pound, particularly in their british services. they flop that often managed to drive up services. clearly this is an area of growth. this is where they had previously said growth will come from. they have 40% of all of their customers upgraded. they are going to 5 million homes. and expansion in the global services business overseas. there also focusing on cost cutting. let's dig into these opportunities. it has all been about quad play. you don't want tv from one provider and your mobile from another person and telephone from someone else. your landline all from one provider. they snapped up for a cool 12.5 billion pounds. that is to drive the

down about 0.2% on the stoxx 600. this follows a very strong rally in european equities. yesterday we saw the dax and the cac rally more than 2% after those inflation naryary comments. those qe comments. yesterday the ftse 100 was up 0.4%. it's down 0.2. the dax and cac off 0.4. net still up quite nicely. italy down 0.4% as well. >> let's look at rates. we surveillance sawaw that european qe trade go back up again. and of course bond buying of course in germany. we had gone back up to 0.7% last week. we're now below 0.6 again. 0.58%. that was different from the move we saw in the u.s. bond yield yesterday which did hit the high for 2015. we're sitting at 2.25% today. we're looking at 9.5% in the moment. quick look at commodity rates as well. we're seeing a nice rally in the oil price. initially because they were weak and we expected a demand supply rebalancing. the last couple of weeks has been driven by the u.s. dollar coming off which helped oil prices again and even though the u.s. dollar has been strengthening again we see om strength in oil prices. >> let's talk bank

you can get doomsday scenario when european equities but it is was considering the stoxx 600 is stillr 2015. remarkable gains and they will come back a little bit. the route to the equity market and capitalists of that is right here with fixed income. here it is in europe -- spain, france, berlin, the headline -- bond yields go higher again by seven basis points and 0.68%. equities selling off and bond selling off. the euro getting a little bit stronger. .8 of 1%.another it has been about the weaker dollar and you see that on cable as well. i will bring up sterling, higher, 156 61 and up one point -- .5 of 1%. ahead of the quarterly inflation report from the bank of england tomorrow. back to you. asia, sharesght in dropped in tokyo for a second day as more and less suspended coverage following an investigation into improper accounting practices. david ingles has much more. shares andtoshiba seven banks have stopped coverage of the stock for the meantime. they say they will wait this one out. investors hate that phrase of accounting irregularities. we know this is about understating co

caroline: i am sticking on a green theme and looking at those leading the charge in the stoxx 600 topoard, or design. it is being upgraded by ubs. the reason is the stock growing because of confidence in the organic market. it was based on the anticipation of slowing markets. they say we are reorienting things. they are thinking about agriculture antibiotic animal replacements, animal products enhance-yield corn without enzymes. his technical stuff but one of the best movements. imperial tobacco. they are getting the thumbs-up to buy assets at last. they get their hands on some u.s. cigarette and e-cigarette brands being sold off by reynolds. they are having to sell certain assets and imperial tobacco is taking a chunk of them. it will take winston ,kool, salem, and africa. imperial thinks they could put up earnings per share 50%. iag, an m&a story. it is closer to getting its hand on aer lingus? the government says yes. the next big one is ryanair. jonathan: let's turn our attention to the u.k.. today is the state opening of parliament. the queen will make her speech following david

take a look at the stoxx europe 600 index. down about .8% as we did see equities lose steam yesterday. the slow progress taking place between greek leaders and it's international creditors. of course you also have the imf warning that a grexit could happen but the imf confirming that athens would be permitted to delay all of the june repayments until the end of the month. so that's where we're set up in terms of heading into june. let's take a look. the cac 40 down 1.2%. the italian market down. this is the last trading day of may. we're almost halfway through the year and if you take a look at year to date performance, italy is actually the out performer. up 24% year to date. the german markets seeing a gain of 18%. a lot of that having to do with monetary policy coupled with the weaker currency environment. the euro of course holding on to 109. a quick look at the bond market. interesting enough yesterday u.s. treasury bonds strengthened driven by a strong auction. the bond volatility increased in april due to the sell off i

the stoxx 50 is flat. we did have weakness across europe yesterday. it was only pronounced weakness for the dax in germany off more than a percent. partly because gdp figures were a little disappointing. it's a continuation of the unwind of qe trade dom natd market trade throughout the year so far. let's look on what the rest of the european markets are doing today. the ftse 100 below flat. germany and france managing to stay just in the greece. france just ticks down into the red. italy also just below flat. of course there has been a continuing sense of volatility of weakness in the markets. we were a little weaker earlier. we found a little bit of strength over the last half an hour or so but in general certainly nothing to write home about. let's have a look at bond rates. they continue to be one of the key drivers of the unwind we've seen highlighted by the 10 year in germany. we look at things from the near 0% levels we go to around a month ago. the ten year in the u.s. 2.25%. that remains elevated. of course disappointing retail sales yesterday

it is 19 out of 19 industry groups on the stoxx 600 getting black through much of the day.at is key. the big one is the market shakeup. the catalyst for that is the global bond rally. it is right here right now. i'm looking at that higher by eight basis points. 0.69%. have multiplied by 14 times in a matter of the month. an amazing and remarkable turn of events. when the bond market goes one way and spends on a dime, a reversal of all the game so far this year. the key to the start of the year is that it was by bonds and equities. that is to sell bonds and stocks and by the euro. the euro is stronger. thes a 10th of 1% against dollar. the key here is dollar weakness across the space. back to you. olivia: i'm going to take on what you were talking about. e: all that selling going on has been happening here in the united states as well. look at the 10-year note for example. we are seeing the u.s. 10 year yield at the highest level since november 2. the selling that has been going on in europe has indeed spread to hear. if you look at what is going on with yield in that chart,

euro stoxx futures dead flat. i'm relying on manus cranny to make this more exciting. manus: it might be a little bit difficult. a lot of people are focusing on what draghi has to say. he made those opening salvo comments last night talking about lower growth. you also have janet yellen later in the day. we have the longest winning streak in stocks. looks like we are about to break that. a little more investment spending than consumer spending going on. yellen draghi, carney, all speaking in riga. no real optimism coming through from that. no substantive answers coming through at all. harris unchanged. the dax has yet to get itself open. this machine is not helping me today. waiting for richemont to open. down 8%, nothing to laugh about there. they are not changing prices of their product. cartier watches you think of those exclusive brand names in the richemont family and their sales are under pressure. areva bank up 8% yesterday. i can't even talk for long enough to get those through. let's move it along. dollar down, yen strengthening. bank of japan leaves quantitat

stoxx if he did not want to be stuck with a lot of military -- military apparel. >> don't worry abouteating. we were sure nothing could stop us. -- it was a terrific beating. we were sure nothing could stop us. narrator: every line must at some point have an end. nothing lay between the southeast army and the british and the german planes except to deborah hers. so we made our plans. then they would hold them for the force that could sweep up. thus where no line existed, over the rhine at last. >> i sat right forward by the window. i could see nothing but the blue skies. one of the boys is reading a newspaper. he showed me a funny piece in it. i could not laugh. someone yelled -- we are planning now. either member thinking, what a bit of bad luck -- i remember thinking, what a bit of luck. >> the army came down and said -- let's bring it to a place called -- you have to wait for the british army and then we would join them and head out. >> we crossed the river and started out, but we did not get far. he put in everything he'd got. that was the worst. knowing our men needed nor me when

euro stoxx futures dead flat. i'm relying on manus cranny to make this more exciting.e a little bit difficult. a lot of people are focusing on what draghi has to say. he made those opening salvo comments last night talking about lower growth. you also have janet yellen later in the day. we have the longest winning streak in stocks. looks like we are about to break that. a little more investment spending than consumer spending going on. yellen draghi, carney, all speaking in riga. no real optimism coming

scarlet: the stoxx 600, the broadest measure of european equities could not hold on to its early gainsby a stronger euro, as well as bali government bonds -- falling government bonds. down 6/10 of 1%. the dax was all of the place, up by only a quarter of 1%. greece remains an overhang, the debt talks continue -- the asset stock exchange index rebounding from earlier losses. the german bund, 59 aces points when it comes to the euro, not only do you have disappointing numbers in the u.s. you also have a better than expected numbers for europe's service sector. we saw it climb over 113.50, the highest since late february. the theme for europe is consolidation of recent gains and waiting for tomorrow's election. >> we need a panel. stephanie: thank you. in a low yield environment, is their opportunity in corporate credit -- we will bring in a next for. -- we will bring in an expert. provident equity partner has over $9 billion in asset management. rich, welcome, my former boss. where is their opportunity in credit? >> great to be here. the credit markets are in adjusting plays, i'm sure yo

euro stoxx 50 two thirds of a percent. all in negative territory.kets also as well on the outlook of that hike.etar -- rate that is the big story in reaction to david's report, saying overall they need to compromise. the asc is closing 3%. worst-performing major equity indices tracked by bloomberg, for the past year take a look at the athens stock exchange. the gauge has fallen for more than 32%. region, scm mib down about 2% overall. it is not a pretty picture in europe. let's look at the bonds here. in greece, we did see a little bit of a drop in bonds. in terms of the yield, we are still seeing a scary number. we are still well above 11% on those yields, down half a percent in the greek tenure. up as well.unds now we are seeing 60 basis points. fees,ms of the current and ongoing negativity when it comes to the euro. take a look at what happened during the day. it found, plunged to four-week low against the dollar. a drop the lowest in about a 109., the euro pound did not look very good. at a two and a half month low. the questions about that june

futures are indicating the stoxx will open mixed today.anks after ubs pleads guilty on libor. as the boj determined the nonprosecution agreement. >> they did. ♪ >> good morning, and welcome. i am moments away from the start of the european trading session. what a day yesterday was. the best today rally for german stocks since january. that was a busy session. let's get straight to the morning briefs. ubs pleads guilty. japan's economy expands for a second straight quarter, beating forecasts's japanese stocks rally. and ecb treat. i'm going to be talking about it throughout the show. i'm looking at futures pretty much dead flat. dax futures lower by 14 points. manus cranny has got your tuesday morning open. >> thank you for that. we are looking at a slight drop this morning. in paris down 2/10 of 1%.

the euro stoxx 600 down 1.3% right now. guy: is yellen right? are they a little high? fairly simple. is she right? a reason whether she is right or wrong would be good as well. we will take a break and see you in a moment. ♪ anna: welcome back to the polls. guy: these are the bloomberg top headlines. nintendo has forecast its annual profit doubled, beating analyst estimates. based on the latest wii model and the entry into the smartphone game market. anna: a bank increased its stake in apple, exxon ed johnson & johnson. taking -- guy: the reports of increase in first-quarter earnings as the weaker euro helped sales beat analyst estimates. the bridal know you greet -- the rival gnocchi a agreed to buy alcatel. -- nokia agreed to buy alcatel. guy: bt is unchanged at the moment but if you look for the bottom of that you can see the away team french bond trading at 3.1%. a touch of 1% in the first time we have been there since december the eighth. prices continue to fall. anna: after boosting the amount of money the bank can access. -- elliott joins us on set. the ecb is g

since the central bank president began buying debt, the moves in the euro stoxx 50 next has come to the highest level since september 2013. stephanie: if your average investor would grade janet yellen and give her be plus, a minus, what would drive to get? -- what would mario draghi get? erik: why would she only get b+ a-? stephanie: chewing gum in class. just tighten it up, erik. what would he get? erik: i'm not giving him a grade! stephanie: i will give him five kit you can't win with erik oil is gaining a bit and. trading close to $60. refineries weekend and inventories drop. i'm going to be focused on that all day long. i will be at the commodities conference and talking to some of the biggest investors in that space -- erik: hang on, i gave draghi a moment of thought that hang on, i want to know who you will be talking to. stephanie: not going to say. erik: i know you will be talking to ryan anderson. stephanie: mario draghi. erik: i will give him high marks for his attire. i love the blues brothers white shirt skinny black tie thing that he rocks that every single press conference

at issue -- the stoxx underperformance and perhaps more sensitively his dual role as chairman and ceohe spent time at a boutique bank that focuses on financial services. tom we will get to the issue of the dual role of chairman and ceo, but first the underperformance. bank of america missed first-quarter results that a lot of big banks knocked it out of the park. what is brian moynihan doing wrong that jamie dimon is getting right? tom: it is hard to measure companies of this size and one quarter. period. i think you have to look at what are these companies going to do in the new environment, being a global city with all the new restrictions and laws, what is their strategy from here? when you look at companies like wells fargo, jpmorgan, and bank of america, they will head in different directions. i think wells fargo's is well-fe defined. i think bank of america is under construction -- construction. olivia: jpmorgan is doing trading. what should bank of america be doing? tom: they will have to look hard and investigate each one of their businesses and decide. it is not all about siz

euro stoxx is down. european markets that pmi data really in focus. the specific italian manufacturers manufacturers, ftse mib trading down by 51%. the zetra dax in the month of april, the german dax is holding on to a gain of around 40 points. the ibex 45 market trading at 11,374 basically flat. the cac 40 seeing a gain of around 2 points. bond markets gaining and grabbing. we did see a sell-off. over the past week the treasury yield rising 21 basis points. that's the highest increase since march of 6th. we also see a bund trading higher ten year right now at 1.8%. in the month of april, the euro gaining 4% against the u.s. dollar. a couple of factors driving it higher first, the encouraging data out of the euro zone and the disappointing data out of the u.s. sending the u.s. dollar lower. we're looking at the euro holding to 1.12 against the u.s. dollar. >>> now coming up on the show it's a busy day. buffet warns on equity levels and he's still getting into stocks. >>> carl icahn is warning. >>> avengers assemble another record "age of ultron" we ha

europe's largest budget airline flying to the top of a stoxx 600 after a 66% increase in it's profit. it's always getting better and behind the strong performance. let's move on the euro dollar selling off quite sharply today. down 0.75% at 1089. a bit of debate internally as to what the cause of this is. perhaps elevated greece fears or other political developments including spanish election results over the weekend or more than likely the hawkish tones we heard on friday. given the markets were closed yesterday it's seeing a more pronounced move today but below the 109 handle again. the dollar against the yen, 122. aussie dollar at 0.778 and 104 against the dollar. we've seen the 10 year in germany start to bounce back again and start to rise and the yield to come down after the big correction we saw. we're now look at 0.53. the yield in the u.s. 2.97. when does that mean we'll see a rate rise in the u.s.? the u.k. 1.88% this morning. a quick look at commodities, oil has been healthy since the middle of march. it's just pause for breath the rally which at the beginning of last week

the stoxx europe 600 posting it's best one day gain in a week on the prospect of the deal coming together. stocks losing a little bit of momentum. we're looking at the index down just about a third of a percent. if you take a look at the major indices you'll see red across the screen here. the ftse 100 still holding on to 7,000. we do get the u.k. gdp number expected to come in at 0.4% 0.5% or so. the bright spots expected to be construction and the services sector but a lot of focus will be on whether the political instability priced into the u.k. market and some of the economic data now that that discounted given that we know who will be leading the u.k. for the next five year ifs that will help resurgence in business activity here in the u.k. the dax right now down by around 31 point although we should point out some of the exporters help the index climb to new highs. we did see a trim digit move to the upside in the german markets yesterday. cac 40 at 5,156 and italian markets down by around 70 points. the bond market interesting moves. in europe negative rates have been a powerful so

the stoxx europe 600 is recovering by just a tad.at's largely driven by better than expected earnings reports. so they're a little disappointing and that is because of its russia exposure but by and large we are regaining some of yesterday's losses. let's have a look at the markets one by one. the xetra dax higher by 0.9%. ahead of the election in 24 hours time. higher by half of 1%. we're not seeing that many election jitters here. cac 40 higher by .5% as well. in the bond markets that's where everything has been happening. we're seeing a continued sell off this morning. the ten year german yield is ticking higher to 0.56%. they have been rising 7 consecutive days now and that's the longest winning streak since june 2013. the yield currently at 2.21%. the ten year yield was back at 2% for the first time since last december and now it's dropped below that. we saw that move happening about half an hour ago and ten year spanish yield moving to 1.8%. the highest level since december. in the currency markets the dollar is still under a l