tv Bloomberg Markets Americas Bloomberg October 10, 2019 10:00am-11:00am EDT
it is 10:00 a.m. in new york, 3:00 p.m. in london. i am romaine bostick in four vonnie quinn. guy: i am guy johnson. ofaine: it is a big day negotiations with china. president trump tweeting he will meet with the vice premier. stocks were flat and they shot up once that tweet crossed the wire. nine of the 11 s&p sectors up. financials leading the way, up about 1.4%. 10 year treasury yields up five basis points. one point 63, a lot of volatility this morning, overnight during the asia hours, heavy volume in u.s. s&p futures. 1%p sawing back and forth,
gain in both directions, the market clearly banking on a trade deal. whether stocks go up or down will depend on the details. keep an eye on the dollar. the direction will be dictated on whether this is a short-term deal or whether this is a more broad-based deal that resolves lingering trade issues. crude oil, demand, supply issues. more information on the supply side out of opec, demand still a concern, 1.43%. up for a second day. optionere is a third which is no deal, which would imply sanctions going up on the 15th and more on the 15th of december. the market risk on assets liking the idea that liu he will meet the president. the euro has been gaining ground
despite disappointing data. the dollar is down. i want to mention what is happening with turkish assets, stock market trading down by 2%. bond market, the yields moving aggressively, and the lira is under pressure. turkey puts more troops into syria, a tense situation emerging as president erdogan says if europe says it is an invasion, he will send all the refugees europe's way. assets under pressure. trade, everything today, that is the game. he we get a deal or not, do we get sanctions? romaine: we will continue talking about what is going on with trade as u.s. and chinese negotiators behind closed doors in washington right now. joining us on set, tom orlik in and sarahrk fiero,
ponczek here. there is a lot of speculation as to what a deal means at this stage. is it agriculture products, is there a currency factor? have we given up on broader issues like intellectual property and market access? what are you expecting? tom: if we go back to the beginning of the year, the hope form d.c. was for a big comprehensive deal. they wanted intellectual property protection, market access, and a change to china's program of industrial subsidies. fast to where we are now, that big deal is not on the table, but both in china and the u.s. is slowing. it seems there is appetite for a deal, maybe something on
agriculture or transparency, it may be some small details around things like sanctions on chinese shipping firms, and none of these things will fundamentally move the dial in terms of growth . what they could do, which is significant, as prevent additional tariffs going on in october and december, and giving the market a sense of calm and uncertainty, which i think would be significant heading into the end of the year. guy: calm and certainty sounds great. the president will ultimately be the one who makes the decision and the tweet just a few minutes ago highlighting that. they want a deal, do i want a deal? is it all about the president's take? will the tweet be more important? sarah: now we know the president is going to be meeting with the delegation tomorrow.
that is perceivable he what we see stocks rallying off of. that is what it comes down to. yes, president trump has his team. he will listen to them and what they have to say, but if he does not like the deal that china is coming forward with, he has -- he does not have to take it. tariffs are supposed to go into place next week and the next round december 15. case isestors' base that we will have a truce and will not see tariffs go into place october 15. we do have an idea that this will not be a deal that likely touches on intellectual property , things that are more in-depth, but president trump has made it clear that if this is not a true deal he will not sign onto it. people will push back and say you have to contend with weaker economic data, and slower
growth. romaine: let's cut through the fog, because at the end of the day we are talking about a global growth situation that has slowed considerably compared to where most people thought we would be a year or a year and a half photo -- half ago. acceleratee deal that global growth picture? tom: we are looking at a re-acceleration at this point, but there is a couple of things that are significant. those additional tariffs that are slated to come in october and december. those are significant tariffs that would essentially bring all chinese sales to the u.s. under the tariff umbrella. we are talking about laptops, smartphones, tablets. if you thought the previous impact of rounds of tariffs on
textiles and such was significant, the next lot even more significant. if that comes off the table, that removes a significant overhang from the gross outlook. guy andnd point, and sarah are completely right to point to president trump's twitter account and the uncertainty around his view and position as the ultimate decider . it is that uncertainty and pessimism which has been the more significant factor, more significant than tariffs as far as creating a drag on global growth. if the mood music out of this meeting is more positive, if we get a delay on tariffs and the two sides say, we are talking again, some of that uncertainty will come away and it will be positive for markets and business sentiment. guy: do you think the nba dispute makes it harder to get a deal done? at first blush, you would not
think that would be the case, but i imagine a lot more americans are aware these talks are taking place. more americans are aware there is a big dispute between china and the united states. hong kong probably gets thrown into this bucket. presumably, politics is getting more and more part of the equation for president trump. tom: that is a great point. when this was an economic dispute, it looked like there was a win-win solution. then it became an economic dispute and a technology dispute and it looked harder. now it has become economic, technology, politics, and culture. getting to a deal is much harder to do. in the very short-term as we think about the talks taking place now, it is kind of remarkable they are taking place at all. think about what has happened in
the last week. ,e have the nba controversy u.s. sanctions on major chinese technology and surveillance companies, the scoop from bloomberg about the u.s. potentially blocking dollar flows into china. there is a high risk that the vice premier says, this is not a good backdrop for talks. i am not getting on the plane to d.c., and the fact that he is here and these talks are taking place as a suggestion that we should not be ruling a mini deal out. romaine: we will keep an eye on that all day long, tom orlik with bloomberg economics and sarah ponczek. let's check in on the bloomberg first word news. morning,ng this associates of really giuliani have been arrested in virginia. they have been indicted in a new
york campaign-finance case. they have come under scrutiny for their role in giuliani's effort to uncover damaging material in ukraine about democrats. consumersure of u.s. prices rose by less than expected in september, bolstering the fed's case to cut interest rates. 1%, cpi increased 1/10 of reflecting a 1.4% fall in the price of used cars. syriac, turkey is beginning their second day of attacks against the kurds. they have struck almost 200 targets. governmentrdogan's regards them a security threat. president trump said the u.s. would not stand in the way of the attack. in california, bankrupt pg&e has
expanded the biggest blackout ever. 3 million people may eventually lose power, mostly in northern california. it could last six days. pg&e is trying to prevent its equipment from igniting fires as it faces $30 billion in liabilities from wildfires over the past two years. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. guy: thanks very much. of our bring part exclusive conversation with robert kaplan, president of the dallas federal reserve bank. he is a voting member next year. we will talk about his growth outlook and the fed balance sheet, next. this is bloomberg. ♪
♪ live from new york, i am romaine bostick. guy: i am guy johnson. looking at what is happening in the markets ahead of the trade talks, abigail doolittle is here with the details. abigail: we have a risk on day around the world, not so much in europe, but in the u.s., look at the s&p 500 up a half a percent. hopes around the trade talks between the u.s. and china that a partial deal will come out of it. oil up, ate tens of 1%. investors moving up -- out of bonds. haven assets doing less well. if we take a look, the s&p 500
is risk on. investors selling the defensive sectors. financials up top at 1%. energy, but that those sectors being driven by rising yields. some of the biggest movers on the s&p 500, take a look at skyworks solutions. shares higher end pieces of that are around trade. delta gave an outlook on the fourth quarter, worse than expected. netapp was downgraded over a possible cell outlook. let's look at the stoxx 600, down 3%, the worst month since may, underperforming in the u.s. guy: it has not been a great month. breaking news of the last couple of minutes.
the irish prime minister departing liverpool back onto dublin. he said he and boris johnson after their meeting, can see a pathway to a possible deal. that is the reaction in sterling , the british pound rising up by 4/10 of 1%, 1.2260. let's talk about the dollar side. robert kaplan released a detailed essay on what is wrong with the u.s. economy and what he thinks the fed's next moves should be. bloomberg spoke with him exclusively about where he sees growth heading. our forecast for this year, for the second half is 1.7%. maybe it will be in that neighborhood for 2020. i am not sure what we see that will make it better.
most businesses i talk to you want to stay nimble and realize there could be new policy pronouncements any time, and with that amount of uncertainty, they are not cutting back their business, but they are putting new projects on hold. the other thing they are doing is watching carefully if there is a broader slowing, and if there is a slowing in the consumer, they are on their toes that they will take further action. that would cause a further slowing. ,e are in a fragile period which is why i am glad the fed has taken some action, but this could go either way. we can avert a more severe slow down, but the jury is out. michael: in the minutes, you got a report on what happened with repo just a day or two before you met and you did not discuss what to do. the chairman said you reached
decisions and would move forward. did you have a conference call in between? mr. kaplan: i will not disclose things that have not been publicly disclosed, other than to say at the time of the fomc meeting in september, we announced these daily repo facilities and for people who were listening, what that does is help distribute a repo across the system. if big banks are not lending their reserves in the overnight funding markets, a standing repo facility has the purpose of getting rid of those frictions. we have been doing that every day. we are having more deliberations. we will be making some announcements in the very near butre, not just about repo about increasing the size of the balance sheet in a way that improves the reserve levels, especially in light of increased
u.s. treasury issuance, tax payments, and other frictions we are seeing. we believe and i believe there is a need to do repo and increase the size of the balance sheet, in order to raise the reserve levels. we have lost reserves since early september mainly because of taxpaying incentives and treasury issuance. michael: jay powell said you are not allowed to finish your interviews without saying, it is not qe. mr. kaplan: it is correct that is not the case, because we are just buying bills. has been buying securities out along the curve in order to lower those term rates in order to incentivize mortgage lending and risk-taking . this will be just related to bills and primarily targeted at overnight funding markets, and
making sure we can appropriately set the fed funds rate in the target range. kaplan, that was robert president of the dallas federal reserve and michael mckee joining us from dallas. a pretty interesting interview. what is your main takeaway with regards to, are we getting a better sense on whether the fed will meet the market's expectations or will the market have to meet the fed's expectations? michael: before the last two fed meetings, the market priced in a rate cut and the fed ratified what they were seeing, but we are seeing a little bit of pushback that even though the markets see an 85% chance of a fed move, he and perhaps some others want to see more evidence the economy needs a rate cut before they go forward. it may be by the end of the year that it does, but it might be
worthwhile, kaplan suggested, sitting back and looking at what previous moves have done to the economy. jobless claims fell to the territory they have been for a long time, no indication in the labor market of weakness. if perhaps the iso numbers were one-off, it might be worthwhile waiting in october and being prepared to move in december. it is still a question. romaine: thanks to michael mckee. trade talksl u.s. kick off today, we will dig in the details with kyle bass. he will talk about china trade, the dollar, and other topics. from new york and london, this is bloomberg. ♪
am romaine bostick. guy: i am guy johnson. it is time for our weekly fact of fun segment. the strongest- is it has ever been. that rate is questions on market sentiment and performance chasing. to talk all about what will happen next to these funds is etf analyst with bloomberg intelligence. vol feels like bond proxy and all the other things we have been talking about, and with a safety stamp is incredibly attractive. where are we? is it about to run out of steam? kyle: if you look at etf flows in the u.s., the top gathering etf is the mid vol etf. it is not the only volatile time
we have had. there was demand for low vol funds, but the demand is so strong this year compared to last year. that is more than three times any other year, so the demand this year is much stronger than historically. romaine: how big have the low vol funds become? is there concern about performance? >> when you look at global u.s. and europe and put the low-volume etf's together, it starts to bring up interesting questions. i am not saying etf's are not billed to handle that -- built to handle that, but the etf is the tip of the iceberg. there are active funds and want funds beneath these. these funds are getting so much larger than they ever been.
they are low vols competing with active competing with -- so the sheer size has become fascinating. guy: joining us for our weekly look and what is happening in the factor space. you can do it whenever you want on your bloomberg, just punch in . countriesrom european and pushback. this is bloomberg. ♪
johnson. this is "bloomberg markets." let's check the first word news. here's ritika gupta. : british prime minister boris johnson and his irish counterpart leo veranda car -- met over brexit talks. time is running out to reach a deal. bloomberg has learned the white house they rolled out a previously negotiated currency agreement with beijing as part of a partial deal, plus a tariff increase on chinese goods set for next week may be suspended. president trump will meet tomorrow with china's vice premier at the white house. new problems for boeing. this time it involves all the versions of its popular 747. the jets that underwent emergency inspection will have to be grounded for cracks in destructor -- in the structure
connecting the wings to the fuselage. data is likely to confirm that the economy has contracted for the second quarter in a row in hong kong. the government may unveil stimulus measures this month. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. guy: thanks very much. turkish president erdogan says he will "open the doors" for 3.6 million refugees to seek shelter in europe if it's country comes under undue criticism for turkish troops in syria. with the latest, bloomberg's onur ant. why does president erdogan not want this called an invasion? onur: he showed great sensitivity to the word earlier
today. he doesn't like the fact that a lot of countries from egypt and saudi arabia, to u.s. and the european powers, are criticizing turkey for what erdogan says is his right to go after terrorist organizations in a neighboring country. i think the word invasion itself has really touched a nerve, and he was very specific. he said if european powers to describe this as an inpatient, he will open the doors and not try to stop 3.6 million refugees, syrian refugees currently in turkey, from seeking shelter in europe in the west. romaine: there's been a lot of criticism already. let's not lose sight of the fact turkey is a nato ally, so a lot of the criticisms are coming from countries that militarily, turkey is supposed to be aligned with. how much pressure do you think some of those allies are going to give on erdogan, presuming
this threat he makes good on? it really is going pathefine what kind of turkey will find itself on, vis-a-vis its nato and european allies. we saw in the west, trump came under severe criticism from people that used to be seen as his strongest allies in the congress, such as senator lindsey graham. in europe, the dynamic is different. the leaders may really not like what turkey is doing in northern syria, no matter how turkey things about the military operation, but when it comes to the refugee issue, things tend to change. sort15 and 2016, it was a of crisis moment between turkey and europe because of all the refugees trying to cross turkish borders, and some of them did. it did result in a transformation of the political
sentiment and fabric in many european countries. people like germany's angela merkel came under a lot of pressure because of her open-door policy. this is a very explosive subject for european states, and erdogan knows he's got good leverage over his european peers when it comes to refugees. guy: the long-term damage could be absolutely enormous. is that why stocks are trading down? is that why bond yields are moving as much as they are today? onur: turkish assets have been hit ready badly. -- hit pretty badly. they may not be as closely linked to the threat about eu and the refugees as much as the threat of punitive action out of washington, as reported earlier. andsenator lindsey graham his allies in the congress co-authored a bill that could result in some sort of sanctions against turkish institutions
should american lawmakers go down that road, and that is really hitting the sentiment in turkey right now. romaine: as far as the fighting going on there right now, some of the images we are seeing, can you give us a sense of how deep into the border, across either border, on the turkish side or the syrian side, we are seeing this type of violence? onur: sure. just to give you a sort of perspective on the size of this operation, turkey wants to create the buffer zone along its northeastern -- it's border with northeastern syria. it's more than 400 kilometers long and about 30 kilometers in depth, about 20 miles. and turkeye area, already made turkish aircraft start hitting points across the border on several locations
across the really long border, so you can imagine this is a very big military deployment that will involve tens of thousands of turkish troops. we estimate the number to be around 55,000, in addition to islamist syrian rebels that are allies with turkeys. guy: we will leave it there. thanks for the update. onur ant joining us out of the stumble. romaine: mean but -- out of istanbul. romaine: meanwhile in washington, president trump facing more heat for persuading rex secretary of state a case tofor dropping help a client of rudy giuliani. there is a sense here that really giuliani has become the focal point of a lot of this impeachment inquiry.
what do we specifically know about what giuliani's response was to that apparent request? reporter: there was a great quote in the story you mentioned where rudy giuliani was basically like, so what? maybe i did bring this up. what's so wrong about that? that seems to really reveal the attitude of not only president trump come but his associates -- president trump, but his associates like rudy giuliani, that they don't understand why this behavior is wrong. that seems to be the crux of the impeachment argument, with the same evidence in regards to the phone call with the ukrainian president in july, and democrats are saying it is very clearly an impeachable offense with the material we have in public, and the president is saying it was a perfect phone call. how could you even criticize that? we see the same dynamic playing out with this rex tillerson conversation, where rudy giuliani is like, what is so wrong about it? guy: where does that leave
republicans? where does that leave the rank-and-file people on the hill? what is their view of all of this? is there any sign at this point that they are starting to maybe have second thoughts? anna: two reasons why it shows r from president and his associates that it was not just an isolated incident with the ukrainian president, where president trump was trying to put pressure for political or personal gain. this could have been a pattern with other leaders and other associates. the other reason is that this story is directly related to turkey because the client that rudy giuliani had was a turkish national, and had relations to president erdogan. so it is very interesting to see how some republicans have shown extreme discomfort with president trump's conversation with erdogan sunday, and which he seemed to allow turkey to begin this invasion into syria. to the extent that we have more
information about president trump's relationship with foreign leaders that is based on business ties or personal affection, and that influences foreign policy, that is something that is going to start making republicans very nervous. romaine: a whole cast of characters in this. two more names i now have to memorize that acted to rudy giuliani. two people arrested this morning. what can you tell us about them? anna: these people were called to testify in congress, and their attorney had said they will not show up for the deposition that was supposed to take behind closed doors this week. the fact that they have now been isested for other crimes definitely a very important development because while they might not be able to show up to congress for their deposition, they are now going to have to answer other questions in a , and that could come to bear on the impeachment investigation in the house of representatives. guy: where does this all leave nancy pelosi? is she going to pull the trigger on the formal investigation?
is she going to take the bait from the president? anna: she has a few different copulations she is trying to figure out. on the one hand, if they did put a formal impeachment inquiry vote on the floor, it would just be a house resolution. it wouldn't have any binding impact on what is happening already. but that would take away one of ste republicans' stronge talking points, that there has not been an open boat on this inquiry. on the other hand, she might be concerned about some moderate democrats that aren't quite ready to take a vote on impeachment and put their name forward as someone who supports at least the inquiry. there aren't actually that many members that are in that position, so politically, i don't think it is as troublesome as republicans seem to think it is, but she is going to have to be careful about the strategy from here on out because that will affect how the eventual results of articles of impeachment in the floor are received by the american public. romaine: our thanks to bloomberg's anna edgerton in washington.
carrier, down over 4% today despite beating third quarter estimates as fourth-quarter guidance left a bit to be desired. this is not a 737 customer, remember. abigail doolittle has all the details. abigail: what makes it so interesting, you were talking about how they cut the outlook because they did beat third quarter estimates. the outlook for earnings for the fourth quarter coming in a little bit short, or possibly a lot short, when you look at the bottom of the range. this has everything to do with rising costs. interestingly, they are not a carrier that uses that 77 max come about the spillover from max, but the7 spillover from that caused seat costs to go up. they are saying it could be a full 1% above their 2% growth. what happened here was, again, planes were grounded for other airlines. that caused other passengers to use their planes. they weren't prepared, so they
had to pay pilots over time. they also had to use reservation agents, airline stewards. they really weren't prepared for that, and it brought costs up in a way that is hurting outlook. romaine: so it brought costs up, but they weren't able to raise prices to match those? abigail: apparently they were not because the revenue side really has not come up. you would think it is counterintuitive because they are flying these extra passengers in extra planes, but they were caught offsides. something else the ceo mentioned was weakness on an international basis looking forward, seeing china and asia a little weaker than expected. that could be another factor. there were also currency headwinds at play as well. guy: ok. we'll leave it there. thank you very much indeed. more aboutt's talk
trade from the european position . france's finance minister warns the eu would be ready to hit the u.s. with sanctions if a settlement isn't reached in the dispute over airbus. bloomberg's maria tadeo caught up with him in luxembourg. >> we should all be aware that the trade war china and u.s. 0.5% world growth less than expected. would we want to add a trade war between the u.s. and europe to the chinese and american trade war? that's my question. i think that it would be wiser to pays the way -- to pave the way for a settlement between the united states and europe. if the united states do not want to enter these, to pave the way for these settlement, we won't have any other choice but to also take measures at the open some time toere is
find a compromise on the settlement, and i hope that wisdom will be at the table of negotiation. maria: just very quickly, speaking of time, some in the admin assertion believe the union is not serious because you hope that trump will not be reelected. is that is what you up or a on, perhaps that -- what you operate on, perhaps that trump won't be there? mixing this with the political situation in the u.s. i am in charge of the french economic and financial interest. i know that this is not in the interest of europe to enter into a trade war with the united states. this isly believe that not in the interest of the united states to add a trade war between the u.s. and europe to the current trade war between the u.s. and china. so i am in favor of a
all of the but as european members and the european commission, the american administration will be aware that if there is not a settlement, europe will not have any other choice but to retaliate and put sanctions. guy: the french finance minister bruno le maire. romaine: time now for bloomberg business, a look at some of the biggest is this stories in the news right now. the parent of louis vuitton and christian dior shrugging off concerns over the impact of protests in hong kong. lvmh reporting faster than expected growth in the third quarter. sales of fashion and luxury goods rising. hong kong is a key shopping destination for chinese consumers. butil sales have slumped, they are still buying elsewhere. apple pulled the plug on an app that showed police activity in hong kong. a number of companies have found
themselves embroiled in controversy involving those hong kong protests. ,ust three weeks before brexit financial institutions in london are taking no chances. banks are telling staff they can't take any time off until november, making sure they have enough cash on hand, and they are ready to execute contingency plans several years in the making. still, many believe that a postponement of brexit and a potential british election is still the most lightly scenario. that is your business flash update. guy: a bit more risk on today. that is certainly helping out the crude trade as well, up 0.7%. opec secretary-general mob at barkindo say that -- secretary-general mohammed barkindo says they will do "whatever it takes." the cme is next. we will take you to chicago. this is bloomberg. ♪
♪ romaine: live from new york, i'm romaine bostick. guy: from london, i'm guy johnson. this is "bloomberg markets." romaine: time now for futures in focus. saudi aramco's long-delayed ipl market -- hit the long-delayed ipl looking to hit the market. speaking earlier on bloomberg, opec's secretary-general says he doesn't see it affecting the market. aaudi arabia's position as founder member, as a de facto leader, we do not see the ipo affecting its commitment. romaine: they said they would do everything possible to prevent another oil slump as the global economy weakens. joining us from the cme, alund
knuckman -- alan from agoura financial. does this change the equation at all? >> this is going to benefit the ipo with a higher price of oil and a higher valuation. i bring in the macro market. a relief rally. i try to make things very simple and look at things on a weekly basis. is a key level for the s&p. in the vix, you are seeing us stay below the 20 level. the stock market is set up overall for a relief rally here. to get back to crude, obviously crude is very dependent on global growth and global slowdown story, but making it very simple, crude has been
trading between $50 and $60 for three or four months. it had a fake outbreak out, and then we are back inside the range. the midpoint of that range is $55. that is something i want to look at a weekly basis and see how it reacts, if it can punch through one more time. if the stock market bounces back, you could see crude oil make another run as well. romaine: let's talk about potentially the stock market bouncing back. you talk about the 2040 level -- guest: 2940, sorry. romaine: right. we've been in a pretty tight range since may, and nothing has allowed us to break through on a long-term basis. we get short-term, knee-jerk reactions. a lot of drama overnight in the futures market. what is that catalyst that provides the springboard up to whatever the next level might be? alan: what you're are saying is nothing's changed. we are still only 3% from the all-time tiptop in the marketplace. as a traitor, it's not my job to
pick the catalyst. i don't know what the catalyst is going to be, but technically it looks set up for another push to the top and squeeze of the shorts. look at where we've been in the last 10 years, so many crises we've been able to overcome. if i told you three to five years ago that we would be in a protracted tit-for-tat trade war with actual battle with china, do you think the market would still be at its highs? i think you have to respect the resiliency of the overall market and the path of least resistance to the upside. there's no choice in the chase for yields except for equities at this time. romaine: always great to have you from agora financial. coming up on the program, bluebay asset management's david riley will join us as we count down to the european close. we want to take a look at what is going on in the u.s. markets right now. still near our highs of the day.
2940 on the s&p 500. do we break out higher than that? tech stocks and financials leading the charge here. volatility down to 18. guy: quick look at where we are here in europe, just to give you an idea of what the situation looks like. ftse 100 up by 0.4%. the pound hitting highs on the back of the vara dkar-johnson conversation. a possible meeting tomorrow at the white house with liu he. the market certainly responding positively on the risk side. this is bloomberg. ♪ from the couldn't be prouders
designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. call, click, or visit a store today. guy: stocks and bonds on a roller coaster ride as trade kicks off in washington. how should you be positioned? we will get a view from bluebay asset management.
the pound rises as prime johnsons varadkar and leave lunch near livable with something positive -- near liverpool with something positive to say about brexit. both the fed and the ecb looked deeply disunited, according to the latest minutes. we hear from dallas fed president robert kaplan. ♪ guy: live from london and new york, we are counting you down to the european close on "bloomberg markets." ♪ guy: 30 minutes left in the rpn trading day. from london -- the european trading day. from london, i'm guy johnson. romaine: from new york, i'm romaine