>> not in love with the u.s. dollar under any metric going forward. >> that hurt your investment position because -- >> no. no. >> even if you buy local currency -- >> we have to give him -- >> last word. >> give you the last word. >> i think the euro has rallied very strongly and sentiment has turned very quickly relatively negative so we can get new euro correction. i think a fair value of the euro/u.s. dollar is around 1.20 to 1.40. it was over valued when it was over 1.50 against the u.s. dollar. >> some would think that the euro is still too low at 1.12. >> i think it will go to 1.20, 1.25 easily because they have a current account surplus and if they reduce the accommodation by the ecb and if the economy improves somewhat, capital will move into europe. don't forget, the european money is in google, amazon, netflix, all of those stocks. the real estate in portugal, spain, italy, the countryside is low. they give you a castle, but we have to fix it. this is for us financial people, more difficult. with your talent

we've got a chart of u.s. dollar long. these are the long positions in the u.s. dollar. now seeing them at the lowest since last august. the latest investor survey found 23% of the folks they surveyed say the u.s. dollar is overvalued. that figure was 21% in april. mark: records in london and frankfurt today. the stoxx 600 when just below that 20 month high. -- went just below that 20 month high. ere we getting pricey on th european stocks? members of the stoxx 600 trading at their highest valuations in the year relative to those on sci country index. equity funds seeing record inflows into europe today amid relief over the outcome of the french presidential election. equitiesan chase says will continue to pick up materially over the medium-term. this could drive a significant re-rating of the region. two mobile number phone carriers vodafone. shares of hypersensitive. -- carrier is vodafone. shares are up today. whilee a forecast releasing fourth-quarter results which were in line with analyst estimates. upwardon continuing movement -- the blue line from 2013. weak ster

we do not see much more support for the u.s. dollar going forward. ves this sentiment and positioning. all of those things have moved in a negative direction for the dollar. pull a coilingu spring before you pop in the other direction. within the u.s. dollar will start to ever because of how much markets have positioned negatively against it. strong's or level we're looking for. for sterling, maybe 120 five is a level we're looking or later and maybe 127 in the short term. .> great thanks so much for joining us. will hep, mario draghi get his hearing before the are in parliament. his final scheduled during for next week's monitor policy decision. look for that at 2:00 p.m. in london. this is bloomberg. ♪ >> let's take a quick check on your markets. the bloomberg dollar index and a type retreating range this year. the dollar yen, while 1134. sterling up .3% after two days, ,ot quite 129 but still 12847 11188 on the dollar, pretty much flat. we're keeping an eye on the rand as well, weakening their. picking of the van, let's turn to merging markets. the

i am not looking at a u.s. dollar story. we think the u.s. weakening for the past few months. we think it will slowly surge. the second half of the year, they u.s. dollar will hike in june but also maybe september. the euro and a sense will have been battled her the ecb talking about the economy, the process of putting this on paper, but we will see resurgence in the u.s. dollar. so the euro will perform better in the u.s.. betty: and if i may switch over from europe to asia and in particular the reserve numbers coming out on china, looks like these regulations, the capital outflow moves by the regulators in china seems to be working right now. are we going to bet on this yuan, andhere in the that will stay? rodrigo: yes. to some extent, the policy has it. china has been affected, but the caveat is they are increasing in reserves, that has occurred this year. so for us, the big test or the real test will be have the reserves perform year-to-year against the background of what we expect to be a stronger u.s. dollar. betty: let me point you to t

u.s. dollars. china as always promoted gender equality based on exhumism. many phrases have been created throughout the years to convey such [ speaking foreign language ] >> caught in the gap between an ideal and the reality of the rapidly changing chinese society, women are ochk negatively labeled. this episode follows three women in shanghai living life on their own [ speaking foreign language ] [ speaking foreign language ] >> she came to shanghai eight years ago. she now works in a medical-related company. she is often called a shung yew even by her cheng is from the autonomous region having always been the best student in her local schools, she went on to attend graduate school in shanghai. after graduate wlg honors, she became an official shanghai resident which is difficult to do. at about 36,000 u.s. dollars a year, her annual income is more than double that of peers her age. she flies all over china for work. but she says she hasn't returned to her hometown in several years because her relatives always try to set her up on arranged marriages. she h

the u.s. dollar is used a heck of a lot more for criminal activity.ere was some negative sentiment. but the people that had that bug and didn't use bitcoin, there is not many of those together. >> this is a bit of a broader conversation. i mentioned the tlt, gold, yen, safe haven trades, you still stay in favor of the trades? >> i think for the near term, i'm comfortable with that, a safe haven investment. bitcoin is way too high. >> coming up, retail enforce. s of the year, one name traders think will take off. i'll give you the name and the trade. you are watching cnbc, i'm melissa lee. in the meantime, here's what's coming up on "fast. >> where's the beef? >> forget about the beef the dough is being made on fast food stocks. one may have come too far too fast. we'll explain. plus the rich are getting richer. >> and she stepped on the ball. >> that's great news for three stocks in particular. we'll tell you what they are when "fast money" returns. >> welcome back to "fast money". stocks, bonds, maybe art is your best bet. basquiat sold at sotheby's

the u.s. dollar coming of a weak stretch here. you had the u.s. dollar index at a low from the day after the u.s. election day was the last time the dollar was at this level. and the euro is the driver. the yen got a slight bid, and the british pound just a touch weaker against the dollar. >> turning to the day ahead on wall street, housing data is front and center today. april new home sales out at 10:00 a.m. eastern. they're forecast to slip a percent after a jump of 6% in march. as for earnings, aud to zone before the opening. and after, intuit. there's talk in the markets that maybe the fed won't be as aggressive. lael brainard talked about how the inflation story is not materializing. >> it has weighed on the dollar. june is still considered pretty much likely for a hike, but it's the matter of the path after that. we'll keep an eye on that. >>> in washington, president trump's 2018 budget will be delivered to congress. the proposal aims to cut 3.6 trillion in government spending. the budget avoids cuts to medicare and social security benefits

we have been somewhat aggressive with the u.s. dollar. weaker dollar historically is always great for emerging markets. this is a virtuous cycle period where inflows are coming in, currencies are appreciating, central banks are lowering interest rates, growth prospects are improving, so we are in a good spot. jonathan: lisa. lisa: i am struck by the optimism not reflected in some of the numbers from the first quarter. i am looking at the household debt numbers we saw yesterday, showing consumer debt has reached an all-time high, $12.7 trillion in this chart on the bloomberg. this is important at a time when we see the liquid sees and loss of increases -- liquid sees -- delinquincies. this will signal slower growth going for it. this should factor into expectations. jonathan: let's get to the president of the st. louis fed. the financial reading since march has moved in the opposite direction. is there something in that argument? i know a lot of viewers will be thinking he doesn't really have argumentut can that reached the fomc? the bond m

you know, all will support a u.s. dollar rally. >> what does that mean for the euro/dollar index if we are expecting relief rally if and when macron wins the second round of the presidential elections this friday? you have a stronger euro, a strongerdollar. which force do you think will be bigger? >> i think there's a big if with the french election. while the consensus says macron wins and walks away and we have that belief there are fringe analysts out there who think le pen does have a good chance. so we need to go through this hurdle before we start thinking about a significant euro rally. the divergence trade will balance each other out. i don't see an exceptional rally in the euro against the dollar because both are going to sort of net each other out. we don't see a huge explosion in euro/dollar or dollar one way or the other. >> that means we're going to be range-bound when it comes to the movements in euro/dollar. not going to parity or susta sustainably above 1.10? >> the pmis today came out longer. inflation conti

that's a big signal for the u.s. dollar that the balance sheet is huge, 4.5 trillion u.s. dollars. there are some fed officials who indicated it should be a 2 trillion handle. now, if that happens, that could be a big draw of liquidity of dollars out of the global system. we do need to start thinking about and need to know what the fed are planning from that balance sheet, when they want to start draining those dollars out of the system. and hopefully there may be a signal with that in these minutes. >> to be honest, yesterday that fed official i was talking about said that the reduction of the balance sheet by the fed would be like watching paint dry. maybe it won't be as unsettling to the market if we only get two hikes from the fed this year, do you think it's enough to kick start the dollar bull run again? >> probably not. i think that there's a different dynamic. certainly when we had the dollar bull run in the final weeks of last year, the market was so caught up with the reflationary trend, we had a different set of -- very different environment for the euro. at the end of l

out, as matt has been discussing on the treasury market, we have also done so aggressively in the u.s. dollara weaker dollar historically is always great for emerging markets. a virtual cycle kind of. in emerging markets, where inflo a coming in currencies are appreciating, growth aspects are improving. we are in a pretty good spot, actually. optimismtruck by the not reflected in some of the numbers we have seen in the first quarter. i am looking at particular -- in particular at the household numbers we saw from the fed that showed consumer debt has reached an all-time high, $12.7 trillion that you can see on this chart. this is important, especially at a time that we are saying .elinquencies in auto loans if it does not signify some kind of broader economic demise, it certainly will signify slower go -- slower growth going forward. this should factor into people's expectations. thethan: let's get to what president of the st. louis fed said. it has moved in the opposite direction, and this may suggest that the contemplative path is too aggressive. i know a lot of viewers will be have a vote

a challenging two weeks for the u.s. dollarar index consolidation -- little consolidation affect and they chose to show it by the yen which is weakening. the most recent high aroundinde. abigail doolittle will talk thet rising oil though -- 10 year yield up to 29 -- 2.29%, not above the dirty basis point threshold which is important. rise in the two-year, a the last five days as markets placed in a juice -- priced in a june hike. stocks lower in saudi arabia and canada after the bank of canada, , including the peso in which a stronger but still 18.55 on the peso. chinese yields, the five-year is one of the major movers today, down for basis point -- four basis points. abigail doolittle is having a deeper look at oil. >> this is an intraday chart of oil and we see a lot of tiny moves, u.s. inventories came out today at 1030. a drop-down double and inventories have dropped for the seventh week in a row and we initially had a spike that now it pullback which would be, as investors are on hold ahead of the opec meeting. tomorrow, e

u.s. dollars.urprise 14% jump in first quarter profit thanks to higher income from of management and insurance. southeast asia's second-largest lender rose to 600 and 2 million u.s. dollars. ocbc is growing its private banking -- 602 million u.s. dollars. a cbd it during its private banking arm. 's governor haslam can support. they will take write-downs. it is a chance for the r.b.i. to deal with an estimated $180 billion with that debt and revive credit growth that is expanding at its slowest pace since 1992. a proposal to create a bad bank has been dropped. philippine president rodrigo named the next governor of the central bank. topill succeed them on the -- the man who retires in july. he has been deputy governors of 2005. an economy is going more than 6% each year. among the fastest in the world and the currency under pressure. will this, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am in a melendez and this is bloomberg. anchor: we are comin

u.s. dollars worth of treasuries in march, taking the total to 1.0 9 trillion u.s. dollars. gain sinceiggest march of 2015. we can bring up the pie chart and see the different foreign holders of u.s. treasuries. this is 50% of the pie. it's not showing 100%, but you can see about 38%, which is china and japan. three others make up 50% of the total holdings of u.s. treasuries. the total is $6.08 trillion u.s. -- let me take you into the bloomberg terminal again. this is showing the combined holdings of china and belgium. why belgium? belgium's holdings increased by billion, and belgium, often seen as home to china's custodial accounts in the european union. combined us together and the increase was the biggest since 2014. haidi: as you said, it appears these capital controls have been working, but it has been described as being draconian, and perhaps unsustainable if the government wants to continue with opening up reforms. reporter: that's right. you know the volatility we saw with the renminbi and capital outflows, that sparked that the chinese wanted to stabilize that. they

guest: i don't think it has much invocation for the u.s. dollar in terms of movement. the u.s.ntially avoided to label china a currency manipulator. china does not fit all the three criteria necessary for the treasury to label it a currency manipulator. if it's only one of those three categories. is petition for the chinese at this stage, china is still on the treasury department's monitoring list. --will [no audio] -- yvonne: since the french election we have seen the u.s. avert a government shutdown. what i would seem to have our when it comes to some of these safe haven trades like the yen, as well as gold? the yen has actually outpaced the gold in prices. could this widen any further? guest: i think a lot of the stage isn move at this the broad-based u.s. dollar move. we currently think the u.s. dollar will struggle to head significantly higher, at least until we have a trump administration aggressive fiscal stimulation agenda panning out through congress. until that time, the u.s. dollar will struggle to had higher. that means the dollar-yen will continue to trade near the

your now since august in terms of the longs on the u.s. dollar, that implies perhaps we could see some more downside to the u.s. currency. vonnie: thanks that update. 10 ceos from retail and consumer products companies met with the treasury secretary. they are not happy about a order adjustment tax. we will discuss that next. this is bloomberg. ♪ vonnie: let's take to first word news. mark: mitch mcconnell says the gop needs a break from the barrage of controversy pouring out of the white house since president trump took office. senator mcconnell spoke to bloomberg television. >> i think we could do with less drama from the white house on a lot of things. we can focus on our agenda. which is deregulation, tax reform, repealing and replacing obamacare. is recommended judge merit garland as the f eid record. that is an about-face from the leader who blocked merit garland from the supreme court. the turkish president meets with donald trump the white house. there is friction between the two countries since the u.s. decided to arm kurdish fighters th

u.s. dollars.fia: china soliciting tens ilion to dollars in global infrastructure deals to bolster its economy. how will the double-edged sword fuel spending and affect the world economy? at the peterson institute, a former u.s. treasury department undersecretary for international affairs. he's just back from china. thank you for joining us today. tell us what your view is as you've returned from china. i heard a number of people say everything is on hold as a return from congress. what you see while you were there? hand, i would say the chinese authorities were quite comfortable about the near-term outlook for growth. they are expecting the pace of growth to continue somewhere at percent..5 they are also increasingly concerned about potential risks andinancial security financial regulators have taken important steps to increasingly discipline the provision of credit and wealth management products that have been quite significant of late. scarlet: we might have seen some of that in the latest data

u.s. dollars, capital that otherwise could have been to support up to $5 trillion of lending to households and businesses. we have an action plan to address the root causes of the issues through first improvements to banks, governance and compensation structures to align better risk and reward. secondly, new global standards for conduct in fixed markets and thirdly, reforms to major financial benefit -- bench marks in order to reduce the risks of manipulation. should be clear though that authorities cannot and should not try to legislate for every circumstance, watch every transaction or anticipate every market innovation. fines and sanctions have a role in deterring misconduct but they'll not bring back the cultural change that we all need. the next anti-incentives for individuals and ultimately a more solid grounding in improved firm culture. in the united kingdom, a significant proportion of variable compensation for senior employees must now be deferred for a period of up to seven years. to address the rolling bad apples problem, mechanisms are in place to ensure that when individuals

finally, a quick check on the u.s. dollar as well. oil bouncing. here's the u.s. dollar index over the past four sessions. this is the worst down street going back to march 22 as we see a pullback about a percent over the past four days. mark: a little bit lower. oil and gas driven by the reasons you mention. generally, we are lower today after rising to a 21 month high earlier. three weeks of gains at the end of last week. 21 month high. not too much if you believe. a few triggers further rally to continue. they say the projections, which we have got your a bloomberg, 15 projections compiled by us, it says the euro stocks 50 will and beer about 3.8% lower than friday question is close. just friday's close. the biggest power producer, first-quarter earnings missing estimates today. what is driving the shares higher by 3.2% today? if we iterate its previous forecast, and also confirmed plans to pay a dividend after not doing so in a previous couple of years. shares this your have risen by 32%. given the new french president meets with angela merkel in germany today,

you take the reflation trade out of the treasury market, we have also done so aggressively in the u.s. dollara weaker dollar historically is always great for emerging markets. this is actually a virtual cycle kind of period in emerging markets where inflows are coming in, currencies are appreciating, central banks are lowering interest rates, growth prospects are improving. we are in a pretty good spot, actually. lisa: i am struck by the optimism not reflected in some of the numbers we have seen in the first quarter. i am looking in particular at some of the household debt numbers we saw out yesterday from the new york fed that showed consumer debt has reached an all-time high, $12.7 trillion that you can see on this chart. i think this is important especially at a time that we are , seeing increasing delinquencies in auto loans. if it does not signify some kind of broader economic demise, it certainly will signify slower growth going forward. this, i think, should factor into people's expectations. jonathan: let's get to what the president of the st. louis fed said earlier this morning. that

>> good, i want to ask you about the u.s. dollarstory of the dollar weakening or are we seeing strengthen in the euro and other sort of rick appetite trades? >> our secret is really a euro sessions prevailing. and it's predicated upon the politics in europe and here. we seem to be confused on a rather consistent basis and europe after the elections in france and the elections this past weekend and the weekend before in germany, things seem to have stabilized, the european sessions seem to have gotten much better than anybody might have anticipated. so what are you seeing is money moving through europe and away from the u.s. dollar. this is the europe circumstance, not a dollar circumstance. the yen is that. there is actually somewhat weak irrelevanttive to the u.s. dollar. most other currencies are at stable or even, in fact, weakening. so again, this is a european circumstance. this is a euro-driven event zpli was surprised to see it at the end is down one-and-a-half percent against the dollar so far in the month of may. do you exp

pressure in the u.s. dollar.ren boxer at the annual meeting and comes out swinging against the border tax plan. liz claman right there with the story. cheryl: comcast and charter to enter the bruising business of mobile telecom. we will have all the details for you. comey sports, lebron james and the cleveland cavaliers sweep toronto raptors in a marathon game in baseball as the yankees go 18 innings against chicago cubs. all the highlights for you. cheryl: 5:31 a.m. in new york. welcome to "fbn:am," your first look at morning markets and breaking news. nicole: present term congratulate the last emanuel macron after the former investment banker defeat of far right candidate in yesterday's runoff. the president treating last night congratulations to emanuel macron on his big win today is the next president of france. i look very much to working with him. cheryl: ashley webster life in paris. it's got all the latest. good morning, ashley. reporter: good morning to you, cheryl. very busy weekend. in the end it wasn'

u.s. dollars, and greater volatility and the exchange rate of a recent fewite weeks, it has been relatively, so the differential will always be there. the next catalyst i guess could be msci and inclusion for a-shares. you think it will be fourth time lucky? >> i wish i knew. think some of the issues that might have been a consideration a while back -- hopefully, they going to get over that and it will be a good thing for a-shares to be in the msci china index. this one you think step forward, two steps back type policy maneuvers coming out of beijing that they are on the right track to gradually open up the markets? there have been some concerns come in the ticket when it comes to some of these companies listing in hong kong, a lack of transparency and actual information about what is going on. a chinese derek company has been making negative headlines as well. do think there is more that could have been done on the regulatory front? --both the exchange here obviously aware of what is going on -- and obviously in terms of the due diligence that the professional teams put into it, that obvi

u.s. dollars in april.is after being in the doldrums for so long, but i can tell you as we see the revenues rise, a are nowhere near the heydays of 2013 and 2014. a goodi'm looking at news story as well. good news all around as we start off the trading week. china banks have got all the earnings in, and it has been a pretty reasonable earnings season. we are seeing assets dissipate a little bit, or at least stabilize as easy, and breathtaking pressure when it comes to net interest margins. take a look at this chart. it seems as though the worst may be over. we are looking at every turn to acceleration in probability when it comes to china's banks for the first time since 2010. we also see a divergence between that loans starting to stabilize and economic growth peaking for two consecutive quarters. looking pretty good, but that is a ratio that you expect to see with that are growth. this is bloomberg. ♪ rishaad: victoria peak here in hong kong, counting you down to the trading day, the first of the month. s

here is a basket of 16 major currencies versus the u.s. dollar14 of them have risen against the doar. .e have seen broad weakness ironically, the top performer this year against the u.s. dollar is the mexican peso, something that would have been difficult to imagine just wallowing the election. in terms of what we are seeing move in the stock market today, regional banks are really taking a hit. the regional bank index down 4%. we spoke earlier today about how are broadly selling off. isto full reason for what going on -- first of all, the president's agenda for reforming the financial industry or walking back some of the financial regulations of the financial industry will be delayed, that will not necessarily be good, but these guys are very dependent on the yield curve. we are seeing a big drop in the yields today. that is why we are seeing selling here. david: thank you very much. coming up, stories out of the white house are certainly distracting lawmakers from legislating. the latest on tax support with the head of the tax policy center nex

u.s. dollars for the release of your family. can you hear me?st was thinking, are you losing your mind? who do you think you've got? just couldn't believe it. $10 million. from me. >> reporter: why would they think heiko had 10 million? perhaps they'd watched the internet. in lynchburg the kidnapping was big news. tv crews set up shop across the street and captured heiko driving his used mercedes coupe. there you were in your fancy car. >> yes. >> you must be worth millions. >> that was a wrong, wrong impression. >> i'm not a rich person, but i will give whatever i can get together. okay? >> we need 10 million u.s. dollars for the release of your family. okay? >> reporter: heiko was lucky in this. when mr. so made his demands, some of the most experienced fbi hostage negotiators in the country were right there, listening in. ready to point out the right way for heiko to respond. literally. >> these are for general visual prompts that we want heiko to think about. we have all the questions related to kevin and gerfa that we think are important fo

sterling did dip against the u.s. dollar extending yesterday's weakness which came on the back of a tightening of the election polls. sterling/dollar 1.2973. off by 0.2% on the day. we are joined by john reins head of political risk at ihs market. john, thank you for joining us. is it too early to say who is behind this terrorist attack? >> i think it's way too hardly. we hardly have any information. we would hate to go down the wrong path, implicate the wrong group or wrong individuals. probably too early. there are certain signs. the targets specified leads one to believe this could be islamic, but at this point we don't know. >> it's odd because islamic terrorists, apart from the bataclan terrorist attack, they haven't been targeting the big concert halls. they've been carrying out isolated attacks which haven't been organized to a large degree. do you feel the strategy may be changing when it comes to isis? and again, we don't know if this is isis related. >> early days. we can't say who is the culprit here, what is the

have a look at the chart of the pound versus the u.s. dollar. it is not significantly lower, %.wn by .1%, or .15 there has been a lot of trigger selling coming through in the currency market following this news. we will continue to watch that and just remember that we are looking at those weaker futures for u.s. equity markets, so that will flow through into the asian trade later this afternoon. haidi. haidi: thank you so much for that, juliette. watching gold as well as cable. first word news now, the roundup with tom mackenzie in beijing. tom. thanks. your area finance ministers have failed to break the impasse on greek debt relief. it delayed the subsequent billionof about 8 dollars in loans. athens will need that much to pay its bills in july, and the delay at to the uncertainty around an economy that slipped back into recession. french economy minister, renaud le maire expects the deal will be done. >> we shall find an agreement and compromise, and will look at it. i would like to emphasize that today, the world we have made together was ve

that's another factor weighing on the u.s. dollar. we expect the u.s. dollar to continue to weaken from here. throughout the end of the year. >> which markets are you looking at? is it the bond markets, the equity markets, to get a gauge of true market sentiment? particularly as relates to what is going on in washington. difficult to get the same signal from different markets. the stock market rallied in the u.s. massively in the wake of the trump election on the expectation of this goal easing, tax reform. and now it continues to rally despite those tax reform prospects diminishing or the u.s. dollar, for those same reasons is falling. what we are seeing is different signals from different markets. >> that is what i mean though. we have seen this before when it comes to views on the. in their rate hikes. is whom trying to dig at has it right in which market? if you are going to look at markets as a predictive mechanism or tool, who has it right? >> our expectation is in the u.s., most likely it will not happen this year. it will be a q1 story. if that i

pound at 1.30 now against the u.s. dollar.eresting to see the rebound there and what it means for the uk multinationals for a while who had not been doing well because of the weakness in the currency. a quick look at gold. gold trading at a four-month high, today slightly lower by $2. >> still up 2% for the week gold prices. the key today, we see a soft dollar, but futures are higher. clearly on wednesday lower dollar and we saw markets move alongside. yesterday we saw a dollar rebound. we saw equities rebound. today, despite the dollar being down, we have got futures higher. that would be an encouraging sign for markets if we did see a positive close today, only about a percent or less than a percent of declines for the week even when the dollar is slipping once again as it is this morning. an important sign that is encouraging for the markets and going back to the belief that corporate earnings are strong enough to offset other moves. but not resounding enough to say that fall is over. >> as we keep a close eye on washington

mark: the implications for the peak in yield and the u.s. dollar going forward. >> u.s. sury yields higher. we've got a 12 month target of 3% on 10 year. we see the dollar generally stronger. on theo has bounced washing out of political risk. mark: has sterling seen its highs or not? some say we have seen the worst of the brexit noise which means sterling could rise. some say it will continue. where do you live? will intensify from here. we're just getting into the debates. clearly the u.k. doesn't have a strong negotiating hand in this negotiation at least in my view. sterling is really the barometer of how these negotiations play out. it wouldn't surprise me to see sterling weaken significantly from here. thenecessarily back to lows. we could come off sharply from here. this is a negotiation dictated by the terms of the eu 27. join our special coverage of that said rate decision. 2:00 p.m. eastern. we will get the latest reaction from janus capital's bill gross. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. with the mark barton european close just s

the dollar drops, and u.s. equity futures point to a triple digit decline at opening bell. >>> trump versus comey. a memo by the fired fbi director claims the president urged him to drop the investigation into former national security adviser michael flynn. we take you to washington live straight ahead. >>> plus jumping jack. the parent company of cordoba surging amid reports of a spinoff. ♪ >>> good morning. welcome to "worldwide exchange." i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well. great to hear coldplay as we come in. >> i thought you were going to say great news cycle. means we can't sleep. >> that, too. >> one of your favorites. >> i'm booked to see them in los angeles in october. >> better than elton john. right to the markets this morning. we are starting to see a reaction to what is happening in washington. we're off the worst levels of the session, but check out dow futures, pointing to a lower open by 95 points. about an hour ago that was more than a triple digit declin

u.s. dollars. up to 12 participants experience the facility, over three to four-hour sessions. [ speaking foreign language ] >> participants are asked questions about life and death from various per stespectives a each person compressexpresses t opinion. [ speaking foreign language ] [ speaking foreign language ] >> as many views on death are being deliberated, each participant is chosen and led to the death simulator this is the image of the spirit exiting the body after death and floating through space. eventually the body reaches a creamtorium, where they lie down and go into a simulated insinner ratetor. the images and sounds of fire coupled with a heat wave enables participants to undergo incineration. they experience their own death. participants are all monitored by a psychological counselor since some people panic in a simulated after their so-called death, participants go through rebirth. many people say they have become more conscious of life after this. [ speaking foreign language ] [ sp

u.s. dollars.out that amount because that's how much money a group of super rich russians snuck out of russia using a major internationally known bank, at least according to u.s. prosecutors as part of a money laundering scheme 2011 or so involving deutsche bank, american federal and state regulators say what they did was basically take in money that the russian clients had obtained through means, they took in those ill gotten rubles and basically helped the russians wash those rubles through the stock market so what they got were clean u.s. dollars. prosecutors say the big bank, deutsche bank, helped the russians move a ton of their dirty money out of russia, $10 billion worth of money. now the bank has already coughed up fines, big fines to the state of new york and to the uk because the transactions also went through london. deutsche bank has paid finds of $630 million for its part in the russian money laundering scheme. today we learned another shoe may drop for them. bloomberg reports deutsche

in new zealand, looking pretty 68.60.ew zealand dollar the u.s. dollarid fall, but the first gains in a month. futures in australia pointing modestly high. we did go down 0.7% on friday. the aussie dollar headed for a .95th day of gains at $.73 -- 73.95. we are raising the weekly loss, up a quarter of 1%. another felt, more saber rattling out of north korea. wti, this bounce in oil could be losing momentum, but the opec meeting is under two weeks. people are focusing on the production that they will cut, namely in the u.s. and outside when it comes to iron ore prices that are now down .7%. let's get the news now with has linda. laid the china has foundations for a new east-west trade route, calling it the project of the century. xi jinping told business figures that the initiative is inspired by the ancient silk road that originally linked china to europe. he repeated his report for globalization, saying it as a piece -- a road for peace. the belt and road initiative is rooted in the ancient silk road. it focuses on asia, europe, and africa. all countrie

u.s. dollars. anecdotally, we have conversations with clients. e conversation is long emerging markets. everyone is extremely pessimistic on the dollar. for me, that is usually the signal when we start to see the technical positioning of valuation moving in one direction. essentially, we are starting to say when does the rubber band pop and the dollar starts to rally again? if you have a one-month tactical view at looking at fx, it is a good time to buy the dollar. alix: buy dollar into the fed and sell rallies. mark: european currencies will move higher along with the yen. our thesis is the dollar bull market is winding down. the drivers that lead to that is we are starting to see the rest of the world accelerate deion the capacity -- beyond the capacity of the united states. there is much more pickup in terms of growth expectations, growth potential, and when you start to look at harvard earnings data, europe, u.k., japan, always countries are growing at twice the level of potential gdp, which in terms of is only looking at x, it growth coming f

u.s. dollars for the release of your family. >> $10 million from me? are you losing your mind? >> tonight, you're inside this harrowing hostage drama. >> this is a big operation. this is not a rag-tag group of people. >> anything can happen. there are no guarantees. >> can a father turned negotiator help bring them home? >> we prepared him for the worst. >> i'm getting worried. i am getting so worried. >> a lot of people were praying for them. a lot of people were. >> i'm lester holt, and this is "dateline." here's keith morrison with "heart of darkness." >> reporter: they lay in wait, unseen under a thick green canopy, armed to the teeth. immersed in their defiant extremist belief, hunting, stalking, deadly, in this particular heart of darkness. it was the summer of 2011, a jungle-clad island in the southern tip of the philippines where they prepared the place. and the news of the terrible deed commilted -- committed here, flashed halfway around the world and came crashing down, out of nowhere, on a modest working class family >> i got a phone call from my mother. the first th

let's get to abigail with a deeper look at the u.s. dollar. >> and that's the story of the year. een a rough year for the dollar. down more than 3% since 2009. let's take a look at what this does look like in a chart. this is the year-to-date decline. we say that the 50-day moving ample is above the 200-day moving average setting up what's known as the death cross. it's pretty braeschish and all-in dvop drop of about 10% within this range. the longer term view may support that. this is the dollar index. out of the financial crisis. first of all, we do see a nice uptrend as the economy improved. and there's lots of optimism. e see that the dollar index is in the longer term resistance. it could at least move to the middle of that range toward 94 or 84. it does look pretty bearish. bitcoin moving up. big swings here for bitcoin. and of course, we do have those ransom ware attacks where bitcoin is the currency of choice using those attacks, mark, but look at bitcoin. spiking well higher on that dollar index weakness. mark: let's bring in a global strategies gist -- strategist. love t

so they need to figure out how to deal with this and create drastic moves against the u.s. dollare impact on the chinese currency itself will not become 100% to the domestic market. wither the next few months all of this political uncertainties and the global volatility and we know the fed decision will be upcoming in june, and that there will be a lot of changes coming on. cautious,e will stay and not try to follow the market. betty: thank you so much. anzchief economist at banking group. one thing we would like to bring to your attention is the interactive tv function. there is paul allen moments ago. thecan watch them live as previous interviews and dive into any of the securities or bloomberg functions we talked about. you can be part of the conversation by sending us instant messages by sending us messages during our shows. ♪ ♪ back. welcome this guy prefers to run a casino when japan legalizes gambling. they have not yet said where they will operate or who will think thebut they region is more fun. gambling is fun for a large number of people including the chinese who have g

we are also seeing the japanese yen versus a u.s. dollar. the yield on the two-year is unchanged. g back one of the themes of the week. speaking of the week, u.s. stocks have recouped much of the losses from this we caused by a political turmoil. investors are readjusting strategies. here are some investors telling bloomberg how they are handling the turmoil. >> the trump trade we have all embraced that has driven markets to new highs in equities is coming to an end. >> it's nothing to run around with your hair on fire. recalibrating in the expectations we have of things getting done are getting adjusted. >> we have had four straight months of inflows of foreign investment into emerging markets, reversing the trades we and december,r the big selloff. we have seen that reversed. >> it's going to become a more difficult environment. >> it's more evidence that the markets are pushing back further, if not completely. need to get through this to see if we can get these policy measures through. >> some concern. nowhere near panic. scarlet: joining us now for some much-needed perspective

that is truly the case now that the u.s. dollarholding back returns of the u.s. markets and other equities. david: we have people saying this was a time to be rich and cash and to find that when happened with these events. as you look at the marketplace, are people more fully invested today than six months or 12 months ago? steven: i think investors have moved into markets to a certain extent. forg very high in cash portfolios has been the case changed08 and has little. there has been the volume rallies. a lot of financial assets, a tiny change in circumstances, prices, but there is not been a lot of volume the last few years. i think dedicated investment portfolios have high cash allocations. david: what accounts for that? steven: i think it is fear of another 2008-2009 event. we have been to a bunch of known catalyst and they are always negative that are not warranted. when i think of how much coverage there has been on the auto loan market or the student loan market, looking for the next subprime event and you say, i can see pro

in the u.s. dollar. a further question on that point. if you take a look at the u.s.conomic data, if you take a look at the surprise index for the bloomberg. see the economic surprise index. for the first time we are seeing it go into negative territory. is uglys could mean news out of the u.s.. you saw a gdp for the fourth quarter slowing to the most in three years. we are getting jobs reports out there. how positive can you remain about hard data out of the u.s. when it is not only to do with sentiment and survey related data? know interest rate policy is low in the u.s.. half the prices have gone up. the data has been mixed lately if you look at payroll numbers. take a step back and look at on employment rates in the u.s.. historical lows. 4.7%. you could almost argue full employment. inflation, the other thing the fed deals with. it is well with in the bands. you need economic data to come through to justify where we are withart of the problem prices is i think we are hoping you will get something out of the administration and hopefully they can deliver. that is t

a little bit of a pop here in the mexican currency versus the u.s. dollar. getting back to u.s. stocks, and if you want to continue to follow along with mexican central bank position, you can look at the bloomberg. we are at the highs of the session, following the selloff yesterday, as we see the comeback today. some of the trading recently, of course, has had to do with earnings. it is one of the things that has been underpinning the really we have seen in u.s. markets. today you have a big one up, and a big one down -- actually, it looks like we are skipping ahead here, so why don't i tell you what is going on with sprint and t-mobile? we had an executive of t-mobile, the cfo, speaking at an investor conference today, talking about the logic of combining sprint and t-mobile. so, both of those stocks have been on the rise. i guess we are having a little technical difficult he with the rest of the graphics, so i will send it back over to you guys. julia: thanks so much, julie, and apologies for the charts there. let's head out to the salt conference in las vegas as investors con

i wanted to check on the u.s. dollare bloomberg because we talked about how yesterday, we had the sixth straight loss for the bloomberg dollar index. today, we are seeing a small bounce. it looks small in the context of this longer-term decline that we have seen. it is still down 1.7% over the past seven sections. -- seven sessions, but is a bit of a rebound. david: thank you, julie. treasy secretary steve mnuchin testified in a congressiol hearing. in his testimony, he said the administration's goal continues to get growth to 3%. senator catherine cortez masto participated in the hearing in joins us. let me ask you what is on the agenda this afternoon. all senators invited to a closed door meeting. what would you like to hear from the deputy attorney general? sen. cortez masto: we want to find out what happened with the firing and find out the particulars of the past couple of weeks. many ofell you this -- my colleagues and myself are happy that a special prosecutor have been appointed and identified. we need to move fo

be athink that this will andt purchase opportunity the u.s. dollar is likely to be higher. nd thank you for joining us. you heard that the dollar will be higher than it currently is. play is on thef take.nd what is the will sit downs and have a conversation would john wayne's and we have the european market open next. this is bloomberg. i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed ac