let's bring in david stubbs. i going to talk to you about field in the second but i want to start off with pound. how further lower can the pound go? did mark carney preempt too much? david: i do not think so. our target on the pound is 1.25. another rate cut is going to support that. i think mark carney was smart, using foreign guidance. most of the committee thinks we are going to go lower by the end of the year and even though the positioning of sterling is extreme in terms of some of the lowest short position we have ever seen in the current the, i think as we get some kind of look at the hard data to show the scale of the actual slowdown in the economy, not just the survey data or backward looking data. as that comes out in the scale of the slowdown reveals the health, i think the sterling will go lower. francine: i know tom will ask you more about the markets but we heard from ian mccafferty saying he wants to wait and see. i do not know if this fills you with confidence but he is waiting for signs of what

function,s -- the a david stubbs joins us now.nt are your early thoughts the earnings season so far? david: is a patchy one. european companies have for long time had the best return on equity's. for a while we have been pointing to these as the possible fuel to significant upside in the medium-term, three to five years. of course, we look at the functions on the bloomberg and you can see there is some strength in different sectors good test sectors. the banks adventure -- sectors. the banks have been trading. resolutionustainable to the key issues in the european banking system. everybody knows what they are. i think before the equities can get out of their own way. hopefully that should actually release a very good period of performance for investors. the eurozone economy is performing well. it has plenty of room to run it we see a pivot toward government spending. governor draghi has been wanting that out. that's has been pointing that out -- has been pointing that out. we have been waiting for some satisfactory resolution. car

roger blain and ted mooney. >> jimmy: stubbs the cat. >> steve: stubbs the cat, yes! [ cheers and applause ] jimmy, meet roger blain and ted mooney! >> jimmy: thank you. these guys didn't want to hear any cat -- they didn't want to hear any cat trivia. oh, hi, guys. oh! ?? [ audience aws ] [ dog barking ] >> steve: oh, whoa, whoa, whoa. that sound means it's time for final puppardy. opponents puppies and the game. pick up the board and the marker's next you. >> jimmy: you guys gotta help me out on this one. >> steve: write down your answers for this question. whoever's closer to the correct answer -- [ audience aws ] is the pup quiz winner. alright, you guys ready? >> jimmy: yeah. >> steve: roughly, roughly how many flowers -- >> jimmy: pun intended. [ light laughter ] >> steve: ruff -- ruffly -- [ laughter ] how many flowers does a bee hive have to harvest to make one pound of honey? you have ten seconds starting now. one pound of honey. >> jimmy: oh, my goodness. >> steve: how many flowers? >> jimmy: one pound? >> steve: one pound of honey. [ buzzer ] okay. jimmy, w

the cl we stubb we are stag to s things clearingd thanhigh pressure will bring in coor air. you can enjoyhat toand into tomorrow morning. high pressure may also bring us a little bit of fog in the ely morning hours for monday. you may see a little bit of patchy f early ithe da by 7:00 am the sunshine will come out and burn it off. for muchf monday, a do not anticipate any issues. one of the models is pickip a little bit of activity. am notuying it. i am not antating owers. if yr lawn is long enoto cut, mine is crunchy, monday and tuesday look pretty good for cutting it. wedn i gesday,e it a yellow light because that ien it startsgetoty and the hudity will go the humidity curnts king up for wednesday lea into thur. friday, itill go back down because torm cnces. looking at this eving -- eratur falling through the 70's. overnight the aad is looking fantastic. re ihetuesday, sunny, 82. wednes hy kicking up and 82. i am holding off o this one will be here, north of us. thursday frida a col ont. it maypa aouple of stnger storms. your calendar, thursday/friday. adrienne: we are fol

we kick off the conversation with david stubbs. this is bloomberg.bloomberg.com. ♪ francine: i prefer to learn as we go. the boe advocates a gradual brexit response. the pound sinks for a fifth day. to returnes tax cuts the u.s. economy to precrisis days. obstacles asces oil drops from the highest close in two weeks. this is bloomberg "surveillance." i a

much most of them and this year we are going to put it all together and do some real damage>" diego stubbs/av: "yeah, we are the underdogs but that doesn't matter, we just got to go and play." ethan dedeaux/liberty: "keep scoring and scoring, punch them in the mouth. that's what it is with that team. they are going to try and slow us down but they can't.") first high school game last night.. valley's helmets are elite..even seriously.. but durango came out fearlessly..kaden renshaw to kevin o'neil..fire up the scoreboard.. the trailblazers taking a torch to their 16 game losing streak.. renshaw..boogie kamara..and boogie is dancing in the endzone.. jayson johnson touchdown.. durango victorious tonight.. 40-0..ending the long winless drought in style.. ((jon tritsch)) it is excruciatingly traditionally underwhelming football program and make them a contender.. but unlv athletic director tina kunzer murphy is convinced she has the leader to do it this is tony sanchez's second season helming the rebel program and while he won just 3 games in his first season..his leadership and community cent

. >> ryan williams and john stubbs, thank you both. >>> a ramping up in the city of mosul in what isected to be a fierce battle to take it back. but the fighting is also expected to send a wave of new refugees into already-overwhelmed camps. more of arwa damon's reporting coming up. this is my body of proof. proof of less joint pain. and clearer skin. this is my body of proof that i can fight psoriatic arthritis with humira. humira works by targeting and helping to block a specific source of inflammation that contributes to both joint and skin symptoms. it's proven to help relieve pain, stop further joint damage, and clear skin in many adults. humira is the number #1 prescribed biologic for psoriatic arthritis. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma, have happened, as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. before treatment, get tested for tb. tell your doctor if you've been to areas where certain fungal infect

stubbs, jpmorgan global market strategist, looking ahead and a perfumeting that cost $1000. alix: we will check in on some movers with julie hyman. s&p down slightly, this is the first today losing streak for the s&p in weeks. julie: still a small move. energy shares are higher today as we see oil prices bouncing back, but that is not helping the overall average. the company coming out with second-quarter earnings that missed analyst estimates and saw margins we can in the u.s. green's business. that income down to $.48 from $.62 a year earlier and sales also falling below estimates. emerson electric making a couple of deals. on the one hand, selling its network talent -- that deal valued at $4 billion, and in the company also is selling another is this to a japanese company. you can see the shares are down 3.5%. 3 -- third-quarter sales -- the company talking about challenging conditions and also, we have been watching the cruise lines. royal caribbean leading some declines, down 2.8% even after its second-quarter earnings beat estimates. revenue rose 2%, a smaller --anced