hear more from thomas jordan today. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." i am nejra cehic in london. a logistic real estate developer has pulled its hong kong ipo. 1.2 $4 seeking to raise billion in this hong kong ipo, and that shareholders including goldman sachs calling for terms on the deal. this is what we are learning earlier. this month with selling 560 million shares. we are hearing the price range would have represented a market cap as much a $6 billion, but be pulled.looking to let's check in on markets, a risk off day. asia-pacific index, energy, tech stocks are leading. weakness in s&p 500 could continue today. futures on a back foot. --lar-yen changes in pricing, we have two rate cuts price in by year end. year yield dropped below 1.90. 4%de steady after dropping yesterday. here is debra mao in hong kong. debra: philip green's empire has avoided collapse. the approval cleared the way for dozens of store closures and rent that at 200 sites across the u.k. and ireland. the owner of

earlier today i spoke to snb president thomas jordan.e explained the banks plans to double its three months libor-based range in favor of a new policy range. don't make any forecasts on that, but if you look at the situation, there is no reason to tighten monetary policy. the monetary conditions tighten somewhat, and we take that into consideration. guy: if you were to cut rates, and you talked about the fact that you have the flexibility to think you would get some pushback from the financial sector? is that what could ultimately limit the snb's room to maneuver when it comes to cutting rates further? thomas: no. we always analyze the situation from the perspective of achieving our goals. we see what kind of instruments are available, and we make a cost-benefit analysis and make the appropriate choice. guy: but if you were to cut rates further, would you expect pushback from the banks, from the financial sector? they are not happy now. you are at -75. if you were to go lower, they would be significantly more unhappy, and i am wondering

they could be back on the watch list for the u.s it's a question i will pose to thomas jordan in justuple hours time stay tuned for that exclusive interview. >> looking forward to it thank you very much. >>> for more news on central banks don't miss our coverage of the ecb forum on central banking in portugal next week. >>> coming up, france's foreign minister wants to improve relationships with renault we'll have more details after this brick . >>> welcome back to "street signs. i'm willem marx in london. here are some headlines. european stocks open lower while crude prices surge after two shipping incidents in the gulf of oman. >>> president trump leaves the deadline open for fresh tariffs on china as he warns the relationship with beijing has becomes challenging. >> i think we'll end up making a deal with china. we have a very good relationship, it's a bit testy right now as you would expect. i think they have to make a deal >>> tesco hales a strong start to the year but uk sales slow in the latest quarter >>> and telecoms outperform after a 6.6 euro billion auction. >>> well, it'

earlier i asked to the snb president thomas jordan it would take to go back to the original descriptionthomas: we have a highly valued currency. i cannot go more specific than that. in case it will change, we also adjust our operation. guy: but that level is different than it was previously. the gtl is important -- the detail is important. back, we are more or less where we were in the period at the minimum exchange rate. if you take the trade-weighted real exchange rate, we have a similar level as there. guy: ok. the spread of swiss bonds to german bonds has tightened up. is that the market signaling that you should cut rates? thomas: interest rates and interest rate differentials are important for us, and we are looking at that very closely. as i said before, also during the press conference, we have the possibility to see interest rates, but also interventions if necessary. take ayze the situation, cost-benefit analysis of the currency situation, and then decide what to do. guy: is it for her to say the next move from the snb is likely to be to cut rates rather than hike them? thomas

this is an important conversation and it is important to know that thomas jordan has been seven yearsion with guy johnson. thomas: if you look at the situation, there is no reason to tighten monetary policy. tight,ing else as rather the monetary conditions are tight, so we take that into consideration. guy: if you were to cut rates, and you have talked about having the flexibility to do so, do you think you would get pushback from the financial sector if that is what would limit the snb's room for maneuver when it comes to cutting rates further? analyze thelways situation from the perspective of achieving our goals. we see what kind of instruments are available and we make a cost-benefit analysis and make the appropriate choice. guy: if you were to cut rates further, would you expect push the banksshback from and financial sector? you are at -75. if you were to go lower, they would be significantly more unhappy and incrementally they will become more unhappy. thomas: it is not our task to make the financial sector happy. we are taking decisions in order to achieve our goals. guy: do y

coming up, we speak to thomas jordan, president of the swiss national bank following the snb's policy day.nutes into the trading let's have a look at how things are shaping up. pretty evenly divided, 290 stocks up, 290 down. become -- the telecom sector is a standout. there is a bit of a relief rally for some players in the german market. telefonica deutschland up by 3%. some of the oil reliant companies are moving higher. ferguson, a rentals equipped business is up by 5.6%. will keep an eye on that one. dales is up. let's have a look at the downside. this is a basic resources companies down by 11%. they are getting rid of the ceo. both of these are ex dividend. i saw that tesco is in the red, down by less than 2%. that is weighing on some others in the retail space. i see marks & spencer down by 2.7%. let's get a first word news update. >> thanks, anna. reportsebounding after of incidents in the gulf of the of oman.in the gulf it says one from saudi arabia suffered an attack. president trump has upped his criticism of germany, threatening sanctions. trump had previously warned the no

grant and william tecumseh sherman, jordan thomas, -- george h.hat thomas, other union commanders from four to donaldson through vicksburg, and elsewhere, however important those, however sad that was going on with the confederates, in my mind, operations in the western theater simply seemed less decisive than the bloody eastern battles that included the seven days of antietam, chancellorsville, gettysburg, and the overland campaign. more than 50 years of additional reading and research -- it is painful to speak those words -- have brought me to a considered -- a more considered, but not a different conclusion on this much disputed topic. [laughter] dr. gallagher: this fact leaves many people to look at me as a kind of hopeless fossil, a kind of relic from the past to read something when he was 11 and then never really understood anything else. [laughter] dr. gallagher: and i think it is fine that they think that, because, as my girlfriend, jane austen, would say, "what do we live for but to provide support for our friends and to look at them and laugh in our turn?" here is my conclusi

there was former number one and three time major champion jordan spieth. 2000 17 pga champ justin thomas and the current number one and raining back to back u.s. open champion brooks koepka. >> this would be the coolest thing ever to win three in a row and to win a third one a pebble. >> reporter: but just about everyone we spoke to was here to see one guy. >> tiger. >> i'm a big tiber tiger fan. >> we came out to see tiger woods. >> reporter: even phil mickelson paid him a visit at the driving range as did reggie jackson. two tiger woods is the guy that represents so much that i respect, i want to come out, i was lucky to get up close and personal. >> reporter: woods is not too much removed from winning his first major in 11 years and his improbable win at the masters has the golf world buzzing once again. >> why? he has such a spectacular comeback and we are very proud of him and we want to support it. >> this is his course, he has won here before and one by a lot is looking good. >> oh my goodness. >> reporter: the last time tiger won the u.s. open at pebble was in 2000 when he oblite

jordan. and the canadian province people in the public sector are not allowed to wear religious symbols anymore but. the new law violates religious. broadcasting law. international thomas glad to have you with us. the united states has ordered an additional 1000 troops to the middle east as relations continue to worsen with iran the secretary of state says the deployment is being made for defensive purposes and that his president is not looking for a new conflict. we are there to deter aggression president does not want war and we will continue to communicate that message while doing the things that are necessary to protect american interests in the region the responsibility for diplomacy achieving this rich outcomes the president trying to send forth falls on all of us but the state department as has the 1st or the water on that but we can't do that without making sure that we have the capability to respond if iran makes a bad decision earlier my colleagues you know neal and have discussed the significance of the deployment. the step itself isn't entirely significant but there have been so many steps leading up to this less than a month ago a $1500.00 more troops was

lebanon whose message is thomas sign is not for sale and need to abraham is in the occupied west bank where people say money alone won't solve their problems 1st straws in jordan outlines what giant has announced. business leaders and government officials are in mahna mahna to discuss the us his latest effort to resolve the israeli palestinian conflict a $50000000000.00 economic overhaul for the palestinian people and the region the us president's son in law has been working on this plan which relies on both private and public funding since 2017 this effort is better refer to as the opportunity of the century if leadership has the courage to pursue it this is about creating opportunity for the palestinian people this is about creating opportunity for the people throughout the middle east if implemented correctly and competently the economic plan i will go through now will lead to growth and better lives cushion or end other u.s. officials say this could be the solution to decades of war occupation and mistrust the palestinians disagree they're not at the conference the white house plan ignores a strategy supported for decades by the international diplomatic co