clinton: for tighter gun laws. 12:30 here in hong kong. in dubai.0 here anna: 5:30 here in london. good morning. let's talk about what's coming up in the program. we are going to be talking a lot about the eu referendum in the u.k., the brexit debate. here are the betting odds surrounding the decision, data en from online. we have seen quite a lot of volatility coming in here. we have jumped a bit in a bit in the trading on this website to factor in some of the recent polling on friday. we saw a pool that put delete campaign 10 percentage points ahead of them remain campaign although even the leave campaign as board cold water on that particular poll. a couple of polls putting things once again to close to call but the currency markets have been reacting as we know a two-month low on the pound. the strength of the yen really the story there. today the focus switches to the midlands in england where brown, the x prime minister, will be giving a speech. the labor leader has been accused of being quiet on the subject of the referendum beauty says his party is having trouble cutting through

brussels, paris, and berlin. here in the u.k. capital, anna edwards is in berlin. westminster. we will bring you global coverage throughout the show. let's get you more on those dramatic moves. we have three boards to get through very quickly. it has been brutal. we know from traders that they haven't slept. 700, but the ftse is above that mark. we had mark carney saying he is ready to act and providing extra liquidity. that has put a little bit of a safety blanket on the ftse 100. this is a picture for euro-pound. this is a very clear bid on to some of the havens. we are seeing losses like we haven't seen since the financial crisis. we haven't seen it since at least 2008. barclays down, unicredit down, dr. sandra banks, we may be expecting some kind of swap to make sure these are ok. we are not insinuating anything, but keep an eye on that. final board for the homebuilders. if you look at the stocks that are most under pressure, volatility index gaining some 34%. let's get on to the guests. theave anne richards for hour. then, former ecb president jean-claude trichet a speaks to us fr

anna: brexit in the balance. pound retreats. warnings -- the billionaire and that' investor said it would make investors poor. the hong kong's richest man tells bloomberg why he is still bullish on china. ♪ welcome to countdown. i'm anna edwards in london. manus: i'm manus cranny in dubai. good morning. anna: we have a great start for you. putting into context the foreign exchange movements have seen in 2016. the story yesterday was around the pound and we will get to that. an pound against the dollar, underperformer in 2016. it hasn't moved all that far from where it started this year. the yen a very different story. it advances this year as the pound falters to the yen. feeling the pressures of the polling data around the brexit data. that seems to move the japanese currency up as well. if we move up to where the assets have been moving overnight, you can take us through that. we heard this from george soros. manus: we talked about this as the show goes on. soros'xit is ion agenda. it really recovered yesterday. one quarter of 1% this morning. i find it most fastening that -- fa

start with anna edwards. anna, the united kingdom and fragmented europe and a fragmented labour party. when you want to begin? in a: it was a turn of the tories, the conservative party fragmented on friday. increasingly, the labour party looks though. increasing pressure on jeremy corbyn to resign. he is the leader of the labour party. he was already facing a no-confidence motion. now we see resignation after resignation from his shadow front bench this morning. i caught up with john mcdonnell who is the shadow counselor. he was defending jeremy corbyn's reputation. jeremy corbyn has come under a lot of reputation for a salient ring, the heartland, the industrial traditional labor vote to the remains i during this brexit debate and referendum. john mcdonnell was defending jeremy corbyn but i'd then asked him about the economy and asked him what the economy needs now. >> what we need to do is make sure we have stability. the bank of england has been critical on that. we have taken the support of the emergency measures. one of the issues is the official role the george osborne has has t

the meantime on the broad market's, really pushed around by ecb and after that the anna -- the anna. the opec agreement that had no production target. oil prices up and down. that is pretty which mirrored in the stock price as well. abigail doolittle has more from the nasdaq on how it has done. abigail: this by the news, we have little change. down just slightly. if the nasdaq can do what he did yesterday, a red to green reversal, it might extend its six-day winning streak to a seventh day in the longest since the middle of february. dragging down the nasdaq and attention on the shares of cosco. this is after same-store sales minus fuel came in unchanged, missing estimates of growth of .9%. tos has caused stern agee's reduce into $176 per share. helping the nasdaq are lending tree, up 1.6%. a new buy rating. reasonable valuations. this is despite the fact it was a huge shortage in the stock of 51%. one reason to listen to michael hek of lending tree, initiated a lending club back in 2014 the celebrating well ahead of the stock's p drop of 90%. perhaps he will be right on lending tre

map this going forward. anna: "a close relationship with the u.k.." how close to the want to remain with scotland, jones? jones: this is the thing. scotland voted to stay in the eu. of course, the officials want to keep that up. you know, they want to have a close relationship with scotland. the problem is, it is part of the u.k. still. they can only negotiate with the u.k. at this point. now, if they have another referendum in scotland and the outcome is different than the one a couple years ago, then we can talk about different things. one scenario out there is, if the u.k. leaves after two years of negotiation, scotland could then be negotiating something for it to leave the u.k. and a stay in the eu. but all of this is totally uncharted at this point and we still have to wait and see what happens. stuff.one jones, great it might actually take an act of parliament to trigger article 50. let's welcome wayne bowers. he joins me here in the studio. good morning. end of the week, it feels like it has been a long week. what do we need to know at the end of this week to make global equ

going to reject that, though? anna: i'm not sure what the ballot paper would look like in that situation. and then of course, there is the labour party as well. guy: we are running out of time a little bit. so, we will come back to the labour party later. given his constituency, fairly annoyed about what this outcome looks like. he is more in line with these leadership at the moment. anna: we will probe him a little bit more on that, and ask him about jeremy corbyn. guy: what time are you talking to him? anna: 10:00, u.k. time. guy: thank you very much. anna: let's bring the political discussion to berlin now. heads tos as cameron brussels to meet with the eu divided who remain on how exactly to show the u.k. the door. with us now is a representative in germany. give us a sense on how germany is thinking at the moment. it seems to me that the germany is looking to give space to the united kingdom, while france and italy are talking about a quick exit and a quick invoking of article 50. >> it is only natural that after an event that happened must make that there are several opin

the remote -- shows the vote for leave. echodid she tell you the anna: good morning -- tell you? anna: good morning. the message from the side, and she is very much on the leave side. the message is about taking back control. thatismissed allegations the campaign had become inward looking, xenophobic and divisive . she did mrs. claims that any departure by the u.k. would leave the board of control between ireland and the rest of ireland. side, comments from jeremy corbyn as to why he was to stay in the remain eu. george osborne talking about why the brexit -- they have made no preparation in the government for brexit, except for the ones behind -- around financial stability. francine: hanging in the balance. for the first time, george soros weighed in on the debate. anna: george soros warning we could see a 20% jump in the pound if we saw a brexit. interested in george soros's view. i was wanted to see how the newspapers are ramping up their coverage. this one i've read here which is the metro includes a cover for leave and an article for remain. it includes an article by the french i

anna: no end to the brexit blues. the pound slumps again. a weekend of political turmoil britain without legalists. engulfs the u.k., spain plays it safe and its general election. -- in its general election. we will have the latest from madrid. a very warm welcome, everybody. it has just gone 6:00 in the morning this monday. welcome to the program. it has been a very busy weekend. how will that be reflected in the markets? i can give you the early indications. brexit has been hammering the pound, a boost to some safe haven assets. the duplication we saw in markets. we saw the yen and gold moving higher. up the risk rate. seen as we speak, we have further weakening of the pound. 2% on the1.34, down british currency. the gold price 1327. let's roll through some other assets. this is the picture, a small bounce in equities. we are up by a quarter of a percent. the frantic selling we saw on friday. more appetite for safe haven assets, a drop in yields. that is being reflected. dollar against the norwegian krone, further falls in the oil price. the norwegian krone one of those perform

our top stories. anna redwood is in london on the race to succeed prime minister cameron. julie hyman in new york on the last day of the second quarter. let's begin right here in london, anna redwood joins us. let's begin with the just shock we had before the top of the hour. boris johnson giving a long attack -- account of his achievements at city hall and as london mayor, and everyone, he said was waiting for the punchline, are you going to run question mark are you going to be the next prime minister of the country? was noon, this was minutes before and this is what he said. mr. johnson: my friends, you who waited faithfully for the punchline of this speech. colleagues andd in view of the circumstances in parliament, i have concluded that person, cannot be me. anna: this moves the pound. i can think of many sitting prime ministers in office, in power who failed to move the currency when they intent to. this is phenomenal, to see this as you don't did, the boris bound. jonathan: i guess the why is something we need to explore. anna: i think people are thinking, if boris is not in th

. mark: let's get updates on the latest politics of with anna edwards. we about to hear from jeremy corbyn. of that, is part waking up to many questions. jeremy corbyn's future is one of them. absolutely. jeremy corbyn finds himself, to some extent, fighting or his political future. he faces a no-confidence vote. they put forward a no-confidence vote. will they go so far as to try to gather the 51 signatures needed to launch a leadership challenge for the top of the labour party? this is only in the last year or so gone through a leadership challenge. he was voted in from a mandate from the party grassroots rather that sit ine mp's the house behind me. .here are many questions politically, who will lead the labour party? or another lead campaigner? there are other names in the free. -- in the fray. what will happen with scotland? said that all of these options are on the table. an independence referendum is on the table. we thought it would have been settled for a lifetime in 2014. that is not the case. they say this is enough to put another independence referendum on the table. cou

open in the u.k. great coverage coming up tomorrow. ♪ anna: britain votes in polling stations are open across the u.k. u.s. futures and european equities are higher. the pound strengthens and we bring you extra asset checks after volatile month. gap from plugs the falling investments with state spending as it sets up efforts to hit the road targets. -- the growth targets. so, welcome to "the pulse." i'm francine lacqua. i am just getting

say to british voters? >> don't do it. anna: the british vote is one week away. russia's president has a message for the european union. let's put ukraine behind us and get back to business. he is speaking at the st. petersburg national forum and will call for normalizing relations between russia and the eu, but he will not offer concessions over the conflict in ukraine. all of this aording to people familiar with the matter. president obama traveled to orlando today to pay his respects to the victims of the nightclub massacre. the tragedy could end up reshaping the race. president obama has been pushing for gun control, gay rights, and acceptance of muslim americans. he angrily rebuked donald trump for calling for a crackdown on theims in tehe wake of shooting. global news 24 hours a day, powered by 2400 journalists in more than 150 news bureaus around the world. tom? tom: thanks so much. the minister of the conservative party in england is sitting with francine. brief theed you to minister here on your statement. i'm sorry, it is all about brexit. here is u.s. volatility and we are r

. rishaad: it is 12:30 p.m. in singapore. anna: we are counting you down to the start of the european trading day. the latest news of the brexit story. international attention to the story. with ministers all over the world weighing in. seeing it as a threat in some places. will the u.k. decide to leave the european union? it can. chancellor says achieve its net migration targets. this is a hotly debated target in the run-up to that vote. the deadline to register to vote has had to be extended because of technical problems with the website. having to work overnight on the 23rd. a lot of them are considering according to this great story got abandoning some of the electronic platforms. during the trauma. when the central bank dropped its pegged against the euro. voice training for example. manus: doing with robots and automated trading. he speaks today. anna: he is speaking in brussels. this is interesting because will be the first time he's speaking since he got that data about payrolls in the united states. by corporate bonds. we learned a lot yesterday about what they want to buy ho

plunging there. >> 20% to 4%. >> in a matter of minutes. >> thank you so much for joining us. anna louise talking about the week.f the >> what a way to end the week. that is it for "bloomberg markets." "what'd you miss?" is next. here are the major averages. less than four minutes away until the close. yes, we could possibly still make it to green! close.the a few minutes left on that. but right now, the s&p down quarter of a percentage point. ♪ >> we're moments away from the closing bell. >> u.s. hiring in may, the lowest in almost six years. u.s. stocks, closing down. is, "what'duestion you miss?" >> today's perils report all but odds of a... the jobseat spot from report, emerging markets headed to their highest close, in hopes will delay a rate hike. >> love them or hate them. newest way to the beat volatility. >> we begin with our market minutes. the s&p 500 just closing below 2100. we'll see if we can inch over that. and we can't get there. but we pretty much have grinded thatay higher following disappointing jobs report. the dow was down as much as 149 points at one point.

view of what it wants. anna edwards interviewed the leader of the house of comments who just attended a cabinet meeting. >> we very clearly need to do what's in interest to the united kingdom. we have to get ready and make sure we have the right team in place. we will have to elect a new prime minister who takes the key decisions about when we trigger article 50. what will happen over the next few months is that there will be informed discussions between ourselves and other capitals. of course, there will be discussions on how things go ahead. the formal process will not start until we are ready. to francineet lacqua. said weekend when many there was a vacuum at the top of the government, it seems that if the likes of jaws john osborne and david cameron have come out fighting. francine: they are trying to give a sense of unity, but i do not know if there's a sense of unity . everyone is pushing back including john osborne could he decided to give a speech since we have not heard from him since 7:00 london time. it will be up to the new prime minister to trigger article 50 . who is the

, anna, talk about the results. and talk about the political reaction. 52% of voters to leave the european union. 52-48, this result was not expected. it became clear early on that things were not going that many in the market had anticipated. we got early results from the northeast of english, they expected to be in the leave camp, but more than had been anticipated. that is how people knew that this would be going the way of the leave campaign. and in concert with some of the conservative mps, he is describing this as an independent day. -- indepencence day. methods ---to-date surgeon,nicholas already talking about another independence referendum in scotland. we knew that this vote, it became to pass -- if it came to pass, it would put into the spotlight whether the united kingdom could stay together. the scottish cabinet will meet tomorrow morning to discuss it. and david cameron talking about studying -- steadying the ship. and boris johnson speaking this morning, trying to give a message, saying that we will not be pulling up the drill bits. and many have said this was largel

anna: britain votes in polling stations are open across the u.k. u.s. futures and european equities are higher. the pound strengthens and we bring you extra asset checks after volatile month. gap from plugs the falling investments with state spending as it sets up efforts to hit the road targets. -- the growth targets. so, welcome to "the pulse." i'm francine lacqua. i am just getting pmi figures out of the eurozone. pmi rising 52.6, better than what economists had told us. they do split into the tw components. oservices were a little bit below expectations. this is the euro area services pmi for the month of june. it fell to 52.4. manufacturing though, a touch better than expected. we also have a little bit of central-bank action, or in action in this case. the norwegian central bank leaving rates unchanged at 0.5%, pretty much as expected. but we will get you extra for an exchange checks, including with the norwegian krona. first of all, let's get the picture across the board. the msci world index, getting some help fro. i want to show you the mexican peso. the mexican peso, and t

sentiment. anna: gaining momentum over the weekend with the latest polls which put the remain camp three points to six points ahead of the levers. let's go to the risk radar and show you what is going on in foreign exchange markets. this is very much the brexit story, the anti-brexit story. rally in spurred a high-yield currencies, up by point -- at 1.459 3. the aussie, the kiwi, emerging markets, the euro, all of these getting a little bit of a reprieve because of the polling. the expression of risk sentiment that we saw last week in the pound versus the yen, that is reversing a little bit as well. in there as well, the indian rupee. over the weekend, we heard that rajan is going to be leaving at the end of his term at the end of september. the r.b.i. selling dollars. that is according to traders in india this morning. manus: let's talk about some of the other asset classes. 2-year note's, the yield is rising. perhaps the most highly correlated with the view of what happens next in the united states in terms of interest rate rises. yellen talking about a new normal. chicago talking abou

♪ anna: coming up on "bloomberg best," the stories that shaped the week in business around the world. from draghi's latest declaration to opec's long-awaited meeting to flash crashes and theme parks in china. we will revisit all the highlights. >> the job cuts were in the sector bp level. >> being in and saying he supports management does not necessarily mean he is not going to want things. anna: and have we got data for you. so many economic indicators out this week and so many ways to read them. >> the ecb decided the stimulus is starting to work. >> income looked decent households are spending at a , decent clip. >> in a word, meh. anna: our roundup of the week's best interviews, and big names discussing big challenges. >> institutional investors are trying to deal with volatility using etf's, and etf's and dts are actually sharpening volatility. >> you don't take people out of their walks of life and say, i am going to turn you into a political operative. >> the window of opportunity is closing. we need the resources so we can protect american women. anna: how china's econo

news. >> guy johnson in london, more from him and a special thanks to anna redwood in westminster. the polls have this net connect, the markets -- i petering complacency over the last few hours. -- i keep hearing complacency over the last few hours. david: the polls can surprise you, the voters have a different idea than what they tell you. we will continue our team coverage. belmont?he mood in brusselsreaucrats in are anxious and they have been for a couple of weeks. i spoke with the president of the european commission, he told me that the french should not do it. --said a brexit could and put an end to the western political situation. we know from the european -- they have this principle position they would not get involved, a matter for the british, the last couple of weeks they have been farming out commissioners, they are going to british media and delivering their message, a real shift and they are anxious. david: leaders in brussels have been reluctant about what would happen if there were a brexit, is there a plan in place? understanding, and we have been talking to peopl

looks of those numbers. that is all for this edition of bloomberg markets middle east. rishaad: anna edwards will have the top stories from london. volatility, certainly, when it comes to u.k. anna: no end to the brexit blues. the pound slumps again. a weekend of political turmoil britain without legalists. engulfs the u.k., spain plays it safe and its general election. -- in its general election. we will have the latest from madrid.

anna: the final rallying cry of the brexit debate, i had of tomorrow's historic referendum, boris johnson argues for britain to reclaim its independence. andis: if we vote leave take back control, i believe that this thursday can be our country's independence day. on the remain side, prime minister david cameron calls on the u.k. to vote to stay in the european union in an address to the nation. countryr cameron: our has made an influence by not walking away from the world, but by engaging with it. brits do not quit. anna: and in corporate news, volkswagen hopes to clear the air, since the cheating scandal emerged in september. a very warm welcome to the program. this is countdown. live from london, i am anna edwards. manus: and i am manus cranny live in dubai. you have a chart. anna: when we need the keep an eye on of course. this is the implied probability of the betting market of brexit. , 25 .68%.down at 26% last week we went as high as over 40% on this particular measure of whether it was likely or not we would see a brexit. of course last night, manus was dominated, the heat

anna: -- >> welcome to on the move. we have -- we are counting you down to the european open. i am airline hide with matt miller in berlin. the yen surge. it sorted to a 22 month high. stocks bonds after the boj refrains from extending monetary policy. the slow path. the feds yellen signals -- citing the uk's referendum is a factor. the final countdown. where are we in the brexit debate just a week to go until the u.k. votes. we are less than half an hour until the european open. -- futuresls disabling. we saw -- futures signaling. we saw asian stocks tumble. check out what is happening with features. asia tumbled 3%. that's happening with futures. asia tumbled -- happening with futures. asia tumbled 3%. all eyes on the eu referendum. the cac 40 showing it to be down 1.5%. it is going to be a down day. here are your asset classes. matt: big, big moves. .ook at the nikkei down 3% 15,434 closing, worst level in a month. you see the yen right now down to 104 -- 104.20 real strength in the yen last week you can find more than seven yen for a dollar. the japanese twenty-year getting clo

before guys. anna: good morning to you. really, a phenomenal event taking place here. we should underline that these are just projections we are going off of at the moment. but all the broadcasters in the u.k. are projecting that leave has one out. of 382 town teeing areas declared, we've got 51.7% have gone leave. and 58.33% remain. so incredibly close. this will not be lost on anybody either. what will the policy response be? i know the bank of england has $140 billion in terms of x reserves and in terms of gold reserves. this is the irony. the bank of england can't raise rates to defend sterling. it's a dramatic move here is not a done deal yet. respond?o you what will the policy response be in the world of 0% interest rates? they can go from 10 to 12 to 15% as they did then. why you that's probably see stocks in your part of the world under such pressure. rishaad: that $140 billion is worth a little bit no -- a little bit more now, isn't it? magnus: if you look at the average man on the street, the reality, if we had voted for a says, theres ann is still a lot of results to

, stay with us. "surveillance" is next. anna edwards will be taking over in london and tom keene in new york. an interview with the german economy minister at 1030. tom: the failure if not delay of -nomics. the markets are range browned -- range bound. we have draghi on thursday and the fed on friday. we consider the swiss franc as currency of last resort. this is bloomberg "surveillance." i am tom keene and new york, anna edwards in london. good morning to you. the meetings in

keene and anna edwards will be kicking off the conversation with charles evans. ♪ tom: this morning, the may report on the american labor economy. in this hour, we searched for rage growth in america. the brexit debate heats up the prime minister. he will attempt to get to monday. a conversation with charles evans of chicago. good morning, this is bloomberg "surveillance," tom keene in new .ork, caroline hyde in london so much going on. what would you look for in the brexit

in asian trading. welcome to "come down." i'm anna edwards. manus cranny. we have all locations covered, all bases covered. we have reporters standing by in all the locations across europe, and globally. we have been covering the politics and the market reaction all morning. we are catching up with the research coming from the banks. everybody is struggling to work out what is happening. intot will force denmark intervention. if that is not enough, a rate cut could follow. denmark might need qe to fight safe haven flows. simon kennedy was telling us we might the responses from the bank of england, but also global central banks. including some who have been treated as safe havens as of late. manus: the irony is not lost on anybody. guy will take us through the market reactions of the moment. we spoke in japan, suggesting that g-7 was ready to open swap lines, if needed. liquidity will be the key word throughout the day. when you look at some of the market commentators, they are s aying they would not sell if eu markets fall the on 15%. this is about market wit interpretation. ann

probably within the next six months or 12 months. >> i was talking about anna darko, they do have a lot of debt. exxon burned with xto. a companyay out for that have a lot of debt? their of debt is tied to midstream asset. outside of a, they do have a decent amount of debt. andadarko, it's a really big company. pretty small ed. we think that they would find canassets attractive and things.some >> kris, thank you very much. kris kelley. this afternoon on "bloomberg markets," two live interviews that you can't miss. at it's am. -- special. we're going to hear from chairman and ceo found of continental resources after his meeting with donald trump on energy independence in america. that will be interesting. >> i'm excited. >> you're watching "bloomberg markets." i'm scarlet fu. >> i'm alix steel. >> disney getting ready to throw open doors in china. we'll hear from bob iger. soro is is making bets. take, rise's quick of islamic state and what is being done to combat the terrorist organization. from south move korea central bank. record lowe, bank of korea cited a growing risk. it mentioned

about half an hour ago. what are we expecting to come out of the meeting? anna: thank you. in the last half-hour, the meeting started. we saw the members of david cameron's cabinet arriving in the door the high me. this is number 10 downing street, of course. the residents of the prime minister. have you got a plan? are you going to stand for the leadership? the extent of the unknown around the government at this time. one of the key questions, the fate of george osborne. he spoke earlier on today and said we find out a little bit more about his plan, personal plan, within the dates and ahead. we'll see what comes of that. we know we'll hear from david cameron mid afternoon london time. tom: anna, to me what is most fascinating is what we call in america lame duck. president obama is a lame duck president on his final victory lap after two terms and eight years. tell me about the prime minister. already said he is going to go. he said that on friday. he said he would be gone by october the because that is when we get a pretty conference. he is going to leave all the negotiating to the

, francine? coverage from outside westminster, just superb. anna edwards has migrated toward the tower of london. insight onnk your what london is going to do is really important. are we going to see a london exit from whatever remains of the united kingdom? anna: it sounds like a ludicrous question and it is and is not. standing at city hall, the home of the mayor of london in this big city. he has been giving a speech today talking about taking back control. he is trying to reposition. the mayor of london was fighting in the corner of remain and he wants to get more control of decision-making for london. he is using the results of this brexit referendum to push that her member that 60% of londoners voted to remain ers voted tondon remain. he is not talking about full on independence or london cutting its ties from the rest of the united kingdom. a second referendum may be on the terms? he has a labour party politician as well so he saw what was happening at the top of the labour party. francine: what people that live in london is wanting -- want to know is whether this can be o

momentum for the leave campaign. a fantastic function on the bloomberg, the odds checker. anna edwards pointed this out to me a little while ago, and that has jumped. that is the percentage probability of the u.k. leaving the eu and you have artie run through the market reaction. -- already run through the market reaction. jonathan: matt miller in berlin, i want to cross over to you, the market reaction stunning. today, it finally went below zero. matt: an amazing move. theprofessor apparently new sun was going to go probe exit -- pro brexit so i hope he was -- they came out in support of it. i think shocked the market this morning and as a result had german bunds dropping six basis points. we were up almost three 100th of 1% and now we are down to a loss of about 21 hundredths of 1%. barnes coming below zero for the first time. if you lend money to the german government you are getting no return. a lot of investors i think are counting on everyone else running for safety. you still can make money obviously on these bonds if they continue to rise in price and that has been the story ov

anna: speculation of a rate hike june or july is crushed. japanese stocks fall. yellen speaks later today. sterling slumps to a three-week low with a new poll showing more britons favoring an eu exit. jack lew says china must be more adept at policy communication at the countries meet for talks. we are live in beijing. ♪ welcome to "countdown." let's get straight to the pound story. we have seen a great deal of volatility which we need to communicate to you. one month volatility getting a seven-week high. the panel itself hitting a three-week low. ,his is implied volatility bracing for the eu referendum which will take place on june 23. we have had a couple of polls over the weekend that seem to have put some moves into currency markets. 45% leave, 41% remain. poll, 41% believe, 41% remain. we have to be a bit careful of the polls were the field work was done during periods of school holidays. thought people who were younger and more affluent could be away during that period. it doesn't change the fact that the currency markets have been reacting to these polls. let's move on to a

next fed move. we begin in london. anna edwards live from london. the bank of england does nothing but continues to say something and it is about breaks it. nothingver has doing bit more politically charged except in the case of japan. no change in interest rates at the bank of england. to spellhe opportunity out the risks as they see them at the uk's central bank around the potential brexit. uncertainty around the brexit is already taking its toll on the economy. could mean aexit slower path for growth and a higher path for inflation. that would put them in a bind. mark carney puts himself at the eye of the political storm as he has to defend himself in this conversation. at the start of the week he was criticized by lead mps who suggested he had become too involved in the subject. he defended himself with a blistering letter to nmp this week saying he was not giving personal views. it was the view of the central bank. and it would be country to be central bank if they had not stated the concerns that they have and the risks that they see onund this issue of a brexit june 23. jonathan

, anna edwards cleared let's get you started with the trading day. good to see you. let us take a look at what has been happening overnight in the brexit story. from focusing late-night in brussels, david cameron was there for probably his last ever with fellow eu leaders. angela merkel keeping a top line, saying there will be no way back from a brexit for the u.k. david cameron spelling out, and he blames the lack of movement from other parts of the eu around the immigration, and inability to get a vote on immigration. he said that was one of the factors. said other reasons were behind the brexit bow. clinical turmoil continues, the vacuum at the top of the conservative party. the lead conservative names now standing up, at least two names putting their name forward for leadership of the conservative party and be the next trimester in the u.k. jeremy corbyn at the top of the labour party, lost the conference but pledging to carry on anyway. n inla sturgeon an scotland, reports you may be meeting with senior leaders in brussels to start drawing up paperwork on a referendum to deci

little bit of before the bedlam ensues. anna edwards are back anna: third time not the charm, rebuffing chinese chairs being included in the benchmark index, the yuan slumps the lowest in five years. global selloff as regional currencies we can ahead of the fed's latest rate decision. and brexit battle, boris johnson argues they can quit, as george osborne prepares to warn leaving the block could spark fiscal crisis. ♪ anna:

. because of the referendum. i would also suggest it shows the internationalization of june 15. anna edwards spoke with charles evans earlier this morning. no one is talking about international up -- but for brexit. did you notice german yield this morning grinding down? jonathon: and two-year yields on gilts have also been grinding down. side, say, on the other 2-year note yields have been increasing in the us because of the expectation of the fed's move. at this point, if the federal reserve more comfortable with the politics in the u.s. then the bank of england is looking uncomfortable with politics in the u.k.? would suggest the dimon-osborne meeting was studying. stunning.at -- was i cannot fathom that meeting. a bankn: i could imagine chief standing up and telling his employees what he thought about the world and the risks. i get that. but to stand next to the chancellor makes quite a bold statement indeed. you can see he is very clearly concerned about what may or may not happen. realize theot polarity of the united kingdom over brexit. elitesear from our fancy talking. but th

table. francine: we are across all of the action today. anna edwards in westminster, ryan chilcote in brussels, and caroline hyde in berlin. jonathan: let's get to anna edwards in westminster. scotland starting work on their own referendum all over again. going to happen? another independence referendum up in scotland? anna: it was talked about as a once-in-a-lifetime or once in a generation decision. it seems things have changed so much that this could be back on the table. that is what nicole sturgeon was addressing. she says this is something they are considering, and because of that legislation is paving the way for a possible independence referendum. she is in talks with the eu for immediate discussion. the timing will be interesting. will they be able to get the independence referendum on the radar before the u.k. and eu go through the divorce proceedings and enable scotland to not actually leave the eu? that could be one of the angles on this. meanwhile talking with those , disappointed by the results yesterday, as 62% of scots wanted to stay in the eu, we also have a petiti

anna: third time not the charm, rebuffing chinese chairs being included in the benchmark index, the yuan slumps the lowest in five years. global selloff as regional currencies we can ahead of the fed's latest rate decision. and brexit battle, boris johnson argues they can quit, as george osborne prepares to warn leaving the block could spark fiscal crisis. ♪ welcome everybody. i am anna edwards. manus: and i am manus cranny in dubai. breaking news. anna: from the clothing retail sector, let's get straight to those numbers. better than estimates the best way to summarize in terms of q1, 705 million euros, better than the estimate of net profit, first-quarter sales just a touch ahead of the estimate for the first quarter. they are saying that sales in 1 to juneose 15% may 13. and looking at the number, that is coming above estimate as well. many, thene of the global presence is perhaps insulating the company from tougher sales backdrops that they might been seeing in various individual countries. but i would not stop some negative fx implication, we performance of -- weak performanc

will open. i will see you at the top of the hour. manus: anna, looking forward to it. rishaad: right, we are hearing more details on the plan of the merging of the two biggest banks , as a merger, not a takeover. we are joined in abu dhabi. equals.a meeting of guest: that is right. it is difficult to understate the amount of interest that this they'll is -- this deal is attracting and abby got it, the coffee bars, everybody is alive with the sound of two acronyms, .hat would be nbad and fgb they want to know if the deal will happen and they want to know the structure of the deal. the bankers are working on this potential merger and they are under strict confidentiality rules, which means the market will be speculators and the first-round of speculation that we thought is that this will essentially be a takeover. fgb would be taking over nbad. we saw that analysts said that they would be paying a premium for the coming, but bloomberg is citing people familiar, saying that this will actually be a merger of equals. which would imply a friendlier transaction and one with a lot of coopera

anna: welcome to "on the move." we are counting you down to the european open. i am caroline hyde alongside matt miller, who is based in germany. here is what we are watching today. decision day for mario draghi. leaderspress european to do more? taxing time. the nikkei plunges as they yen rally gains momentum. one board member says monetary strategy is all wrong. .nd reviving opec saudi arabia is said to be considering a surprise deal with fellow members. can the new minister makepeace with his new cartel? so much to discuss. not only the macro maps, but the micro. more news with investment banking cuts coming from goldman sachs. matt: we are hearing goldman managingting dozens of director positions. yesterday, of course, we heard a report that hsbc was firing loads of top investment bankers. of course, we have seen traders lashed all year long. it looks like it is reaching the highest levels of management. very important story for our viewers. the ecb, these negative rates are not helping. of course, deposits being that much more painful. let's have a look at what the future mar

president and governor makes headlines. david weston spoke with governor to rouleau yesterday. anna edwards to charles evans out of chicago, and he has been a most interesting and nuanced voice in the recent weeks. anna: thank you very much. is with me right now, so let's get to that conversation. great to have you on the program. into minesat you are going into the june fomc meeting. are you leaning one way or the other? charles: i tried to raise two possibilities. the expectation going into the meeting, i am expecting economic positions have improved. i expect that it will be appropriate to raise the funds rate twice in 2016 so by the end of the year we will be in the range of 75 to 100 basis points. unfortunately, i think it is going to take three years or more to get inflation to our 2% objective so what i tried to lay whether we thought it was more important to get to a 2% inflation sooner to solidify further inflations. there might be some value to think about holding off until we get core inflation up to 2%. that is not what i expect policy to be that i think it is worth gett

anna edwards. it is just six of clock in the morning here in london and we have interesting developments overnight in the japanese debt market. let's get straight to that low interest rate environment story we have been tracking. yields on government 10 year week.hit new loads this we saw a record low on the 10 , -0.1%. we have been talking about germany and the u.k., all hitting near record lows. bill is talking about how global yields are at their lowest in 500 years, he says. he says this is a supernova that will explode. we will talk about that as we get to the program. i will show you what other assets are on the move because it is a pretty weak session coming through on the asian equities story. hong kong is back in action, of course. china is still closed. the focus seems to be on the risks that lie ahead. the eu referendum is one of those her eine in the u.k. of course, because of the reevaluation of interest rates arehe u.s., investors choosing some of the higher currencies. wti on the back foot, up .8%. that is out of step with the weekly pattern. u.s. stockpiles d

changed for the time being. it is 12:30 in hong kong. manus: it is 8:30 in dubai. anna: i'm anna edwards. we are counting you down to the start of the european trading day. i wanted to tell you a few things on the program. manus, we will be talking about the brexit this morning. june 27 is the date in the calendar. polls yesterday really moved the pound. inn from 1.47 at one point the trading day. so, clearly the market is very sensitive to the latest polling. the culprit yesterday was a poll by icm. we have a gauge of one-month volatility at its highest since 2009 on the pound. manus, we will be speaking with the former conservative governor, and a key leader in the brexit campaign. that is during "countdown." manus: and we also have caroline in paris at the moment. the great debate is whether shinzo abe is right. are we facing a crisis like 2008 ? it looks like the u.s. could pull us all by our bootstraps, doesn't it? anna: yes, that was a big topic of debate in paris. caroline hyde is there for us, as you said. she will be speaking with the general secretary of the oec. she wi

article 50 has -- of the lisbon treaty is triggered. the ukip you seem to be on different pages. anna: absolutely. behind me, number 10 downing street. we have a cabinet meeting taking place. some members of the cabinet have left. some have not yet key questions really -- are they crafting some kind of plan for the u.k. to leave the eu? we see articlel 50 of the lisbon treaty ask the triggered? we heard from george osborne, chancellor. he was talking about contingency plans. he talked about oracle 50. only articleborne: -- only the u.k. can trigger article 50. in the meantime, during the negotiations that will follow, there will be no change to people's rights to travel and work and to the way our goods and services are treated or to the way our economy and financial system is regulated. anna: so george osborne, the chancellor, talking about taking -- the u.k. taking its time. we have heard that for many in the u.k. in recent days. one prominent member of the conservative party cabinet talking about only triggering article 50 after informal talks have taken place. meanwhile, the eu hi

anna: china's exports stabilize as a weakening currency give some support to growth in the world's biggest trading nation. hillary makes history. obama congratulates clinton as you become the first woman to run as a candidate for a major u.s. party. and the brexit battle intensifies. david cameron and nigel farage argue both sides of the debate in a tv special. ♪ a warm welcome everybody. i am in london. manus: and i am in dubai. anna, to get off the chart today. anna: the chart of global equities, manus. the world bank cutting the global forecast. but global equities continue the recent rally unabashed it seems, global equities extending the rally from february. low msci, all country world index, as you can see. let us see the fed increasing rate manus, asian stocks up a bit. adding to that push a little bit higher. we see increased appetite for some of the emerging markets assets, as well as the feature in overnight trading. manus: i mean there is a lot to digest. yen is on the move. emerging markets shifting as well. this is what you need to keep an eye on. i love the story we

. let's check in with our team for in-depth coverage. michael mckee is on janet yellen watch. anna edwards is talking about brings it. amanda kern is with the start of u.s./china talks. janet yellen will be speaking this afternoon. let's get the latest with michael mckee. what you going to be looking for most importantly? mike: since the jobs report, markets have pushed any fed movement packet to december. that's gotten some blowback from fed voters. and bostonnd fed says a rate hike is still on the table. we want to know if she is on the same page and of so for when. she may not be as dovish as a lot of people think. she may take june off the table. she wants to preserve her options for july. she can go back in time to the 1990's when the economy was about as good as you could get and talk about the volatility we saw then. and 1999, you could see the jobs creation went up and down like crazy. number that discouraged workers. that has fallen to the lowest since 2008. an excuse for saying we're just going to wait and see. we are going to be hearing from janet yellen at 12:30 p.m. yo

? , thank you for watching. we will be back next week. ♪ ♪ anna: coming up on "bloomberg best," the stories that shaped the week in business around the world. from draghi's latest declaration to opec's long-awaited meeting to flash crashes and theme parks in china. we will revisit all the highlights. >> the job cuts were in the sector bp level. >> being in and saying he supports management does not necessarily mean he is not going to want things. anna: and have we got data for you. so many economic indicators out this week and so many ways to read them. >> the ecb decided the stimulus is starting to work. >> income looked decent households are spending at a , decent clip. >> in a word, meh.