mark: i am mark barton. welcome to bloomberg "markets." vonnie: from washington, d.c., coverdi arabia and stories from mexico and the next hour. global bonds resume me their slides. stories from mexico and the next hour. his election has made action and his election has made action and near certainty in december. >> speaking to bloomberg television. take take on the possibility picking that may need to de-pegged the currency. vonnie: senator ted cruz is being floated as a pick for attorney general. the challenges of getting the pick approved by the current senate. about 30 minutes into the trading day in the u.s. and we are seeing the trend continue. julie: taking deposits. the category we're falling into after the rally. figuring out several times whether the rally was justified or not. today. down the most the intraday action going back to election they. what we have is a crime and the dow -- with the climb in the dow. back to election they. this perspective, the frompullback is not look large whatsoever. though shares are trading lower

mark: i am mark barton. president-elect donald trump is prepared to settle lawsuits, according to a person to play with the matter. he will pay $20 million to $25 million to settle the lawsuit and case filed in 2013 by eric schneiderman. the case claims trump build the students and he may have personally made as much as $5 million. general said he would probably speak with donald trump very soon. he is predicting trump will be committed to the alliance during the campaign when he called me to obsolete and questioned whether european members are contributing enough. russian president vladimir putin is making sure he will remain a force to be reckoned with for the next tenant of the white house. putin is said never team to make sure he wins the fourth term in 2018. his approval rating is more than 80%. one survey says two thirds of russians want to see him continue after 2018. a fuel tanker exploded as thedents gathered around driver, killing at least 73 people. badly burnt people had tried to run into a nearb

mark: from london i am mark barton. there soon may be a glut in london office space. 25% of theiring office space amounts to about 5000 desks. since july when britain voted to leave the e.u., office values in the city of london fell the most in at least seven years. i want to bring in jack sidders is barclays alone or will there others? jack: first of all it is important to say that from barclays' point of view, this has been in place for quite a while and predates brexit. the negotiations were going on for several. to answer your question, barclays is not alone. all banks are struggling to adapt to this low interest rate environment. they have been forced to cut workers as they are trying to cut costs and that means they have excess office space. there have been several major companies who have sublease office space or tried to get out of it. we reported last month on citigroup offering to lease a big chunk of space. mark: is oversupply a bigger threat to rents and value then brexit? jack: that was the view of ubs anal

i am mark barton. vonnie: this is "bloomberg markets." there just one day to go before the u.s. election. hillary clinton has the edge over donald trump. she is ahead 44% to 41%. that is when third-party candidates are included. conducted friday evening through sunday afternoon before the fbi reiterated the clinton's handling of e-mails was not a crime. b,en, even iflead we only have to trust the polls. it is not a huge margin. she is just sort of outside of the lip of the kind of lead that has sometimes been within the margin of error. she is working hard. she cannot take anything for granted. that is my opinion. vonnie: what does this mean today? if hillary clinton can win the west, is that her campaign strategy? they would love to see nevada. they have seen a lot of latino early voting turnout. they are focusing their efforts on pennsylvania, michigan, and florida. they have that same sort of within the margin of error lead, but they want to consolidate. vonnie: the donald trump campaign? >> they ar

mark barton. this is "bloomberg markets." looking at my bloomberg, the lira, this is the function to my right. the lira is falling. all of the currencies are rising against the lira. every major currency is rising against the layer, led by the pound of 2%. -- the lira falling to record those. stocks are falling with the police rounding up pro-kurdish opposition leaders prompting investor concerns that the increasingly autocratic government is dismantling democracy. this is an extension on the crackdown of the opposition following the failed july 15 two with tent -- july 15 coup attempt. lastg the currency of the three months. that tells you the story. the lira down to a record low against the dollar. vonnie: a chance to show you later. the final week of the campaign. donald trump is in new hampshire, ohio, and pennsylvania. hillary clinton is in pennsylvania and michigan. president obama will campaign as well. mike, let's look past the elections for the moment. there has been chatter about who mig

. ♪ mark: in new york, i am mark barton. vonnie: and i'm vonnie quinn, you're watching bloomberg markets. third quarter results blue pass analysts estimates. but will they begin with the repeat the performance? on a conference call, they said revenue will come down meaningfully next year. they also predict a slowdown in ad sales growth. joining us now is the ceo and cofounder of activate. performance one be able to be repeated for stubs that mean facebook is finally transitioning from a growth company? are hitting the number of limits they can show you. -- the number of ads they can show you. now are in a position where they can't get more revenue out of the internet. historically, a lot of the revenue growth has been taking away money out of smaller websites. going forward, the grow -- they will grow fast. it is not likely it will be anything in less they invent new parts of their business. that is likely to come from their messaging. facebook messenger and also whattsasapp, which are massive. vonnie: why are people so upse

mark: i mark barton. seismic shift, some of the terms used to describe -- long-term holders of bonds for income are; get a good thing. bondto talk us through market, brian chappatta. many parties, companies and so on and so forth. rubbing their hands with glee after this big ramp up. let's start with companies come especially those companies that have got liabilities in their defined plan. this is a huge relief. vonnie: they've really had to shift into other alternative assets to make of the lack of income they were getting from their fixed income investments. according to milliman to my who i interviewed, this is going to reduce future liabilities by $100 billion. half a percentage point increase in interest rates already so that's a huge reprieve. and can start shifting back the bonds and getting that fixed income. what bonds usually are used for rather than the ice returns we have seen over the past few years. mark: the bankers, we have seen in the stock price performance, this shift into industrials.

. ♪ mark: live from london i am mark barton. 20 minutes away. vonnie: from bloomberg world headquarters in new york, i'm funny when. -- i am vonnie quinn. an executive asked in 2010 how big of a rival it would take to beat out a competitor in guinea according to the mining minister. c fire toy executives over the west african project. the executive is denying allegations. considering an ipo with the canadian business object by need to raise cash for the expansion of a mountain oil pipeline. ofinitial public offer canadian assets is being considered as well as others looking for joint venture partners. fiat chrysler recalling 89,000 dollars and suvs a cousin of a .ossible fuel leak it covers dodge during go and jeep grand chair be suvs -- jeep grand cherokee's worldwide. owners will be notified by mail starting on december 19. that is your bloomberg business flash for this hour. mark: staying with autos, cutting 30,000 jobs for a saving. the company struggling to claw back from the emissions cheating scandal. a look at whether or not it is , my f

mark: i am mark barton. vonnie: this is bloomberg markets. he was selection worries clearly evident in the global market. the u.s. rate curve hasn't seen much. this is the euro of frank, which is the blue line. the euro falling to a four-month reflecting the nervousness. the white line is essentially money markets. what is going on? >> a lot are thinking there might be an opportunity here. we have seen safe haven flows. we don't see much priced into the swiss rate curve. it is about four basis points below where the swish national bank target is. -- the swiss national bank target is. on any uncertainty next week, on any surprises, a lot of people thinking we don't see the seals come down sharply. >> the unofficial floor for the s&p. 1.077 right now. for a long time it was considered the floor. we have seen that breach. should it fall even further? then that becomes very interesting. anxiety ratchets higher. i'm wondering what will break it out of that range. doesn't impact next week do that? >> anything that gets us away from a continuation o

mark: this is bloomberg markets. i am mark barton. vonnie: it is time now for your latest bloomberg business flash. the biggest stories in the news right now. google iss -- concerned that if giveaway software could be at risk. google has told european regulators that it does not hurt competition when it is installed for free. the european union has charged that google uses its power to impose apps. growth is slowed in deutsche's home market. that was offset by gains from its u.s. mobile carriers, t-mobile. sales in the u.s. increased by 18%. that is your bloomberg business flash. let's head down to julie hyman -- looking at financial movers besides big banks. >> we have seen stocks take a leg down word>>. a very sharp leg downward. it was half a percent of and now it is down one half of 1%. still going strong but i noticed amazon and facebook shares are each down 4%, even as jeff bezos actually tweeted out to donald trump saying he supports him and wants to work -- or see what he does over the next four years and wishes him luck. inte

. ♪ mark: from london i am mark barton. the european close about 13 minutes away. vonnie: from bloomberg world had workers -- headquarters in new york. the russian economy minister being charged with a $2 million bribe, alexei ulyukayev was detained and place under house arrest to the highest ranking russian official to be jailed rule butdimir putin's -- butes wrongdoing here he denies wrongdoing. what is being alleged? >> an alleged -- bribe of $2 million which the toestigators say was paid the economy minister in return for authorizing the sale of a small oil regional producer which was bought by the mainstay oil company in russia. vonnie: what is the reaction in moscow among politicians and the general public? >> maybe one of shock. mainly one of shock, the first time someone of this right has been detained on charges like this. someone whoayev is , inbeen against the sale common with other top officials. the speculation is that he was targeted because of that. motivehere is political behind this? >> that is what the speculation is. in russia sayals that this sh

. ♪ mark: this is bloomberg i am mark barton in london. donald trump set to meet with michael pence and sharing the transition team. reince priebus asked white house chief of staff the key signal to trumprepublicans that lands to try working with the .ouse speaker, paul ryan also following reports of rudy giuliani and former goldman partner is being recommended ford u.s. treasury report.y according to the latest, we bring in mike washington. the latest is some of our trump hours.e at reporters and said economicrking on the plan with transitions to make sure we get the biggest tax till past, the biggest changes since reagan. days in theiting first days of the trump presidency. sounds like he is being groomed to be the next treasury secretary. >> it sounds like he is being groomed that way and we know people that have spoken with that that is the truck --ation of the trump advisors. we do not know what trump has decided or if he has decided yet. know truck -- trump advisors. that it is going in that direction. what else are we hearing? the a

i am mark barton. >> in new york, i am vonnie quinn. this is the european close 30 me trading day today. i am mark barton. >> in new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: we will take you from stockholm to rio and we will cover stories out of amsterdam, germany, and washington hit. here's what we're watching today. trade has seen the odds of a fed rate hike in december moving to nearly 100%. prince speaksudi to bloomberg television. the billionaire says it's too early to judge what the effect of a trump presidency could be, but he thinks it could improve relations with saudi arabia. worste of the industry's a mission of offenders is trying to meet ever tightening rules. mark: let's look at where european equities are trading. 30 minutes until the end of the wednesday session. stocks are falling today. of swings and between gains and losses on the stoxx 600. conjugating, deliberating, thinking about what the double trump election victory means. bond yields are rising. today after a respect

mark: in london i'm mark barton. julie, you're taking a look at oil? a little bit of a spike in the last minute or two. julie: gold that is. we are not sure exactly what is going on. rising quickly. gold prices had earlier been little changed as it had most assets as traders await the outcome of the election are you we see this spike. we will figure out exactly what is going on or at least attempt to. some deal speculation. 3g capital of brazil. jorge paulo lehman's company. the core into the brazil wall street journal, 3g capital is seeking a billion to $10 billion -- seeking a billion dollars to $10 billion. here are the stocks that appear to be rising on speculation they could be a target, kellogg's, general mills, campbell soup. in march of last year the journal in the u.s. have reported 3g had looked at general mills and kellogg's. that is why speculation may be surrounding these companies. 3g has a history of looking at consumer companies. here are some of the deals it has done. that burger king acquisition in 2010 that ended up merging with tim

mark: i am mark barton. welcome to bloomberg markets. vonnie: we are going to take you from new york to london and stories out of japan, washington, and chicago. month onbled last mounting concerns that global central banks were preparing to reduce stimulus and inflation is accelerating. will november yield a better run for securities? mark: earnings at bp and shell, why a key acquisition helped boost earnings for shell and can bp snap nine consecutive quarters of losses? vonnie: a deal to put two of the together.s. newspapers has failed. trunk goes it alone.

this is bloomberg. ♪ mark: live from london, i am mark barton. just 50 just 15 minutes away from the european close. vonnie: from bloomberg world headquarters in new york, i am vonnie quinn. the markets are doing their best to anticipate the results of the election. various analysts are predicting what it clinton or trump victory will mean for the s&p 500. joining us now is mike mckee. if you enter your local otb, if it was legal, you would find odds are giving trump four to one kids a few put down $10, you would get what, $50 back? mike: that is a mistake made during brexit. that is why trump is cleaning -- clinging to the idea brexit as a surprise. but it will not happen. the poles themselves in the united kingdom were not wrong. vote, twofore the points higher for the remains side pay the day it of the vote, two points higher in the leave vote to you they were within the margin of error. what happened is bookies to in more money on remain, even though there were more bets placed on leave. ofy focused on the amount money. then the media picked

mark: i'm mark barton this is your global business report. u.s. regulations tried to impose limits on wall street pay, but they are racing against the clock and time is running out. julie: a recorder for rosner. if they'll even as oil output grew. quick take,ay's white americans spend more on prescription drugs than anyone else in the world. the world's largest entertainment company had a rare stumble in its fiscal fourth quarter. still, disney is predicting growth will pick up next year. the company posted lower revenue and profit in the most recent quarter. part of that was due to lower at sales and a drop in cable subscribers to networks like espn. bloomberg spoke with ceo bob iger. bob: there were a couple of thewinds like the cost of new mba contract for espn and the fact that we do not have a "star wars" saga film in 2017. we think the company is headed in the right direction. we talked the fact that 17 is an anomaly and a lower growth year. julie: this he said it was also hurt by its fiscal calendar and the quarter ended one week short er.

mark: i am mark barton. executives are meeting for -- they meet against a backdrop of uncertainty about what donald trump will do. us now, chair of the monetary economics institute, also a member of the german espoo -- economic in the wake of donald trump passes victory last week in the u.s. election, reflation seems to be the buzzword. is the outlook for the global economy changing in the 's success?mp if you look at the bond market, great change. >> yes. i think there is still a lot of uncertainty. as you say overall, the moretation has been growth, higher interest rates. we see that in bond markets. market: that is obviously the case for the u.s.. translatenecessarily across the globe? what is the thinking across ecb and other central banks now? >> with the key is, the protection is in that the u.s. will step back from free trade, that would be bad for europe. journal -- germany would be heavily affected. the u.s. would also not benefit. i personally do not believe that will happen and i think we will see

#bcb.n look at that at g, vonnie: mark barton, beat that. if you want simplicity, i like to go for multi-lines and multi-colors, but i am keeping it simple. we have had the likes of italy sell long dated bonds, we are talking 50 plus years. that is because of the low yield. if trumps -- is trumps election victory a bad omen? ago,a matter of weeks vonnie, if you invested 100 million euros in this bond, last friday, you would be sitting on a 13 million euro loss. it's the ecb decides to take her -- taper, these would be suffered by this type of long day. the theory is that there will be a flight. that makes the meeting in december a very important meeting. if you don't think bond yields can rise, in italy, the 30 year bond yields are two percentage points less than the average during the first decade of the euro's existence. that simple line is very important. c #bcb. vonnie: thank at ms. i didn't have 100 million euros to invest because i would be sitting on that. i am going to award you the crown today to reward you for that one for mine. it

i am mark barton. stocks finishing higher, stoxx 600 of my a quarter of 1% led by basic resources, insurers, and banks, basic resource companies the best performers it's donald trump's election victory. at the highest level since june 2 thousand 15, the stoxx 600 highest level in almost one month and the martin status has come to an end -- barton status, has come to an end, the stoxx andhas moved between losses gates, that has come to a finish, the to district the longest since may 2013 which has come to an end because today all we had was gains on the stock 600. i want to talk about commodities because the bloomberg commodity index rising for a third consecutive day and the three-day gain of 2.7% is the best since june led by gains in oil, industrial metals. this is the index going back to january, goldman sachs says investors should that on higher prices in the next year as manufacturing picks up around the world and this is the first time that bankers as recommended an overweight position for the as

. ♪ mark: i am mark barton. vonnie: i am vonnie quinn. this is "bloomberg markets keybank -- markets." the fed is set for a rate hike in december. one of the main focus is on speculation of the ecb pots future, grabbing headlines. joining us is michael pond, head of global research as barclays. let's jump in a talk about inflation and what the market is looking for. we will get to donald trump and the fed saw that in a moment. not every metric is telling us the same story. michael: that is right. inflation is still fairly low at around 195 on the 10 year rate. higher than where it was and the summer. it is still well below a normal level around 230, 240 which is where it was from 2010 and 2014. vonnie: how quickly can market expectations become inflation? have risen 20hey basis points over the past couple of weeks. that couple of upward pressure on inflation. we have seen inflation go up. 2%e inflation has been below and now it is above 2% and it has been for most of this year. we think it celebrates forward of continued wage gains as the

this is bloomberg. ♪ mark: live from london in new york, i am mark barton. this is the european close on bloomberg markets. time for the bloomberg business flash. is wrapping up its presence here in the u.k.. the social network will employ 500 employees. facebook is moving to a new london headquarters next year. many of the new hires will be high skilled engineers. anchored executives planning to move operations out of the u.k. because of exit -- because of brexit has been told to relax. there will be no mover advantage when it comes to getting regulatory approval, that is according to people familiar with the discussion. airbag --the japanese the biggest auto recall. there have been news reports -- newher air reports of other air bags made by the company -- and i do get out about who has the best chart for this drought. this is bloomberg. ♪ mark: let's get right into an interview with the u.k. labor party leader jeremy corbyn. he says he is disappointed theresa may is -- they began with brexit negotiations and whether a state intervention is good for busi

mark: i am mark barton, this is bloomberg markets. let's check in on the first word news. alisa parenti has more. sa: here's fighting between iraqi forces and the islamic state is underway in which -- villages in northern iraq. syrian border, fighters have gain control of a highway linking mosul to another city. the u.n. warns the new paris treaty on climate change will not be enough. unless more pledges to curb emissions are made, the climate is headed for catastrophic change. a report for next temperatures will rise by six degrees fahrenheit and that could lead to rising sea levels, superstorm's and deadly droughts. a nationwide poll shows hillary clinton -- donald trump has cut the clintons lead by two thirds. 42% in aeads 45% to race that includes third-party candidates. economists -- the economist is backing hillary clinton for president. the editor says the choice is not hard and of the campaign has thatded multiple evidence proves that it would not be a good president. global news 24 hours a day, powered by more than 2600 journalists. news.: breaking down byf burlin

mark: and i am mark barton, this is bloomberg markets. checking in on the first word news. >> most americans say president-elect donald trump ultimately do a good job, according to a new cnn orc poll. or than 50% say he will do a very are fairly good job as president. 66% say he will bring change the country, but only 43% say it will be change for the better. new report concludes that islamic state terrorists have used chemical weapons at least 52 times since 2014 in iraq in syria -- in a rock and syria -- in iraq and syria. the group says the chlorine and mustard agents are most likely to be chemicals used in mosul . in turkey, the nationalist opposition party is about to support the president's bid for more power. he wants to formally change the political system for a ceremonial presidency to a executive one. european union policymakers have stepped up their criticism of the uk's plans to leave a block -- leave the bloc. they say the pragmatist or appears clueless about the consequences of leaving as they prepare to begin brexit negotia

mark: i am mark barton county down to the european close. eight minutes away until the end of the friday session. three employees from major banks have been arrested according to people with knowledge of the matter. joining us now is bloomberg news reporter suzy green. why is this investigation important? it shows that the sca is not letting up when it comes to insider trading. it is clamping down on conduct the last eight years and we had a huge investigation that came to conclusion earlier this year. the fact that something else so big on the horizon shows that this is a topic they will continue to pursue. mark: what is the track record like when it comes to insider trading prosecution in the u.k.? the sca had not prosecuted anyone criminally for insider trading preferring to go after them civilly. convictionse 31 under their belt. most of them in a big case that was largely resolved earlier this year with deutsche bank with an account of going to prison and a number of others who pled guilty throughout the appropriate -- throughout the pr

this is bloomberg. ♪ mark: i'm mark barton. this is "bloomberg markets." is with us, chief investment officer from coutts and co.. this is the emerging markets currency index. the white line since trump's victory. the blue line is down roughly 5%. emerging markets have been hammered the most. too much? >> some money flows went into em over the summer. it was the popular trade. em question, does your portfolio include fx or is it local? negative returns on currency. currencies are holding up a lot better than the yen. i would look at this as an obvious trade, maybe afraid of what trump will do to certain countries, huge inflows. there is often a big move after this would can be technical. we are still long. we are buying opportunity. , we managege for us all awful lot of sterling funds. therefore, is it time to come back into sterling? mark: you have been a buyer of sterling. this is the power of the dollar. dollar, white line, euro, blue line. we are off the lows of late september. >> if you look at that decline, the first was not tradable. that was overni

mark: i am mark barton. this is "bloomberg markets." let's get the first word news. erik johnson is an the news room. thanks. president obama has congratulated donald trump on his victory in yesterday's presidential election and has invited him to the white house tomorrow. they will discuss the transition of power. mr. obama will discuss the election results at 12:15 eastern with hillary clinton scheduled to address the nation momentarily. heads of state from around the world are congratulating u.s. president-elect trump. among them, theresa may. theresa may: i congratulate elected asp on being the next president of the united states. britain and united states will remain as partners on trade, security and defense. we have a long-standing and injuring special relationship, which is built on shared values of freedom of democracy and enterprise. vladimir putin has also sent his congratulations to trump. he said he hopes the u.s. and russia can have better relations. seven states have passed measures that legalize marijuana in some form. california, massachusetts, and n

, i am mark barton. close onhe european bloomberg television. speculation surrounding president-elect donald trump's candidate continues. discussing thoughts on donald trump, whether or not he is the second coming of ronald reagan. here is what he had to say. >> it is too early to tell. there is loss of cross current here. we will know in the -- there is lots of cross carried here. we will know in the transition. you have a series of pronouncements by the president-elect, as well as others. some say he wants to dismantle dodd-frank. backe other hand, bring glass-steagall. those are diametrically sort of on opposite sides of the coin. raising questions, in my mind, where is the philosophy here? we will know more as we see more appointments per number two, as i indicated with both bush and theylesser extent obama, conspired to change the view. dayink at the end of the , something to keep in mind. the window to shape this policy will be very short. even with two houses, both w and obama got very little done

mark: i am mark barton with global business report. are watching european energy producers reporting third-quarter results, a stark contrast between shell and bp. you will give a full breakdown, ahead. vonnie: u.s. prosecutors are building a case against valeant. how top executives could face charges. polluting in the u.s. and a major campaign with the presidential election. the bloomberg team explains what can be done to bring down the debt. vonnie: bps third-quarter earnings plunged 49% but beat estimates. there were hurt by falling oil prices and shrinking refining margins. third-quarter profits rose 17% at royal dutch shell. the record boosted oil production and that helped offset that slumping prices. securities director futures puts the results into perspective. >> the story today with show is is a story of their acquisition of bp. i think production came on quicker than expected and they were able to turn it into profit quicker than expected in the united states. chevron was with the same lines. they were able to turn some spots

i am mark barton. welcome to bloomberg "markets." vonnie: washington to rio and cover stories from amsterdam and london. president-elect trump transitions. reports of rudy giuliani or secretary of state. steve newton being recommended for the next u.s. treasury secretary. mark: speculation interest rates will stay lower for longer. the neutral policy past is appropriate. vonnie: according to bob dudley, the oil market pretty pessimistic

good day to you, mark barton. you.ck to no. more detail. , feds the centerpiece chair janet yellen testifies before the joint section on the committees of congress. condon ineak to chris d.c. to preview it and the chief strategist at deutsche bank will preview fed chair yellen's testimony. she's got an end of your target by the way of 2300, which implies an upside of about 5.6%. but anyway, away from that, yellen, yellen, yellen. jonathan: mark barton, coming up with vonnie quinn as you count you down to the fed chair's testimony in about 10 minutes. janet yellen testifying on capitol hill. the questions she will likely face from lawmakers. from new york city, 19 minutes into the session, the shape so far looks something like this. equities unchanged on the dow. 500.10 of 1% on the s&p in the treasury market, yields higher by two basis points. earlier today, the dollar showing a little bit of weakness. dollar-yen, 1.09. this is bloomberg. david: breaking news right now about valeant. executives have been indicted on multiple co

. ♪ mark: this is the european close. i am mark barton. the rift between european and u.s. stocks keeps on rising when it comes to stocks. companies on the stoxx 600 estimated2 times earnings, the lowest since july 2012 versus the s&p 500. basic resources rallying, the best performing industry. hopes of infrastructure spending boost or splurge after the election of -- after the election of donald trump in last week's election. ,he two-year yield in germany one of the more interesting market moves today. earlier the yield on the l for thephil -- fel eighth consecutive day. we fell to a record low of -.74. what then happened was a bit of reversal. 0.70, is the ecb was said to be considering lending out the securities to avert a market freeze, making it easier for banks to borrow bonds so they can be used as collateral for loans. what a run it's been ahead of the ecb meeting, when the ecb has a big decision to make. does it extend its euro bond buying program, which is due to come to an end in march. investors are bailing on dodd holdings at etf. the fed preparing to hike rate

marco paying -- mark: i am mark barton. welcome to "bloomberg markets." ♪ vonnie: we will take you from washington to london and stories out of new york and vienna this hour. breaking economic data in the u.s. and julie hyman is with us. -- in new home sales at the month of october, month over month the decline of 1.9%. this on the heels of better than estimated data on existing home sales yesterday as they rose to their highest level in about nine years. and a final rate on the university of michigan consumer above 91.6%.93.8%, a little bit better on estimated. data hast economic ba

i'm nejra cehic in for mark barton. vonnie: in new york, i'm vonnie quinn. this is the european close on bloomberg markets. ♪ nejra: we will take you from washington to germany and cover stories out of london and wall street in the next hour. here's what we're watching. vonnie: european stocks selling off her and a today. investors are getting action before the u.s. election well we also await policy decisions from the fed and the bank of england. politics has new reporting on how the u.s. candidates are faring in early voting. this is donald trump and hillary clinton surrogates hit the campaign trail with just five days to go until election day. we look ahead to the federal reserve and bank of england's decisions. recent data has taken the pressure off the boe to ease further.

nejra: i'm nejra cehic in for mark barton. welcome to bloomberg markets. ♪ vonnie: we will take you from washington to johannesburg and cover stories out of new york and the united kingdom in the next hour. tech earnings in focus. alibaba's quarterly sales beat expectations. now we look to facebook with a focus on mobile advertising. nejra: for once the pound is benefiting from increased political risk. rising to a three-week high. oil markets are turning skeptical about opec's ability to deliver on cost. the chart telling the story right ahead. 90 minutes into the trading day.

let's get to mark barton. mark: let's look at the big chart of the day, the chart showing the four major indexes hitting record highs yesterday for the first time since 1999. the s&p 500, the white line. the dow, the blue line. the russell 2000, the red line. donald trump's election fueling optimist him that he will cut taxes, boost infrastructure spending. oil jumping on optimism opec will cut output. let's get to the fed. the meeting is only a matter of minutes away. there is a 100% probability now the fed will hike rates in december, according to fed funds futures. that is a fascinating chart. we had a two-year option yesterday during the highest beforeince 2009, five-year debt today. that is the two-year yield versus expectations for a rate hike in december. talking about oil, searching for a third day today. opec members have made progress toward finalizing a deal to cut output, says the opec governor of libya. this is the price of oil, the white line. the blue channel is the level where opec wants to cut

. ♪ mark: live from london i am mark barton counting it down to the european close, just 14 minutes away. vonnie: what a session it has been. i am vonnie quinn. the initial market turmoil that followed donald trump's victory has eased but what can we expect in the weeks and months ahead? joining us is edmund shing at bnp paribas. how much do the overnight gyrations have to do with liquidity and how much were positioning of traders trying to wee a quick buck given that had 5-1 odds? i am sorry, we have to go straight to live speaker paul ryan. i spoke with presidential elect donald trump and congratulated him on his great victory. we talked about the work ahead of us and bringing this great country together. let me just say, this is the most incredible political feet i have seen in my lifetime. this is something you have heard me say time and again. seven out of 10 americans do not like the direction our country is going. many of our fellow citizens feel alienated and have lost faith in our core institutions. they do not feel hurt and they do not feel -- kurd and they do not feel represen

mark: and i am mark barton. welcome to bloomberg markets. julie: we are going to take you to new york and shanghai, covering stories of new mexico and -- i've mexico and washington. michiganrsity of consumer confidence reading is coming in better than estimates. and the expectations part of at 82 point five. it should be noted, i was talking with a bloomberg intelligence reporter, and he said the results were tabulated on wednesday. this doesn't necessarily capture the sentiment following the election.

francine: let's go to mark barton for the market check. mark: well off the lows of the day, the heightened concerns overnight have dissipated. in decay is the highlight asia, down my 5%, the biggest exit since the exit. these are your sovereign bond yields, core yields are falling although the long end of the u.s. curve is rising which is highlighted on concerns we will have more fiscal policy which will boost the long end of the curve. gold off its highs of the day. earlier it was up 4.8%, the most since 2009. we are well off the lows of the day. on the day of brexit, we saw as much as 7%. nowhere near those declines. these currencies are rising against the dollar, moving into the swiss franc and pound, the euro as well. we are seeing core government bond yields all in peru friel yields rise. to highlight the flight to holiday, wc rs is the function, all these currencies are falling against the japanese yen. the japanese yen is the haven of choice which was expected. u.s. futures, this highlight, these three figures, s&p futures down by 1

mark: live from london, i am mark barton. welcome to "bloomberg markets." ♪ vonnie: we're going to take you from new york to london to washington and abu dhabi in the next hour. here is what we're watching. it is the final day before the u.s. funds for their next president. hillary clinton leads donald trump by three points nationally according to the bloomberg politics poll. mark: the election is driving the market move today. the dollar is higher against all major currencies. ae mexican peso viewed as proxy for a donald win. gold is falling back. vonnie: oil falling back. qe market waits for

mark: gave his 11:00 p.m. in hong kong, i am mark barton. i'mie: from new york, vonnie quinn. welcome to "bloomberg markets." global reaction to donald trump's victory in the presidential race. first, let's talk to julie hyman about all of the gyrations and markets. averages are now higher. this is not an outcome that would have been easy to predict at midnight. we sought futures at the lowest in the session. s&p futures down as much as 107 points at the low and now s&p 500 index cash open four points. andave seen traders investors take a step back and figure out what a trump presidency means for the economy and markets. we had to couple started just coming out today and keeping the target for the end of the year. over at goldman sachs, keeping at 2100 target which is below where it is now for the year-end s&p 500. keeping his target by 100 points and saying

mark: i am mark barton from london. welcome to bloomberg markets. ♪ vonnie: we will take you from washington to frankfurt and cover stories out of new york, london, and south korea. here is what we are watching. donald trump's's first staff fixed rattles the establishment outsider divide. we look at who he is surrounding himself with as well as a weekend spent watering down some of his oldest promises from the campaign trail. are the bond vigilantes trying to tell us something? still wielding considerable power to constrain public spending. we will be watching for a news conference from president obama later today. tourars up for a european and they visit to peru.

alix: mark barton, thank you so much. seven days until the u.s. election, how the clinton and trump campaigns are using the latest e-mail revelations. take a look at the mover and the market, the 10 year yield up by about five basis points. the 10 year spread climbing above 100 basis points, this is the move in the market. this is bloomberg. ♪ alix: from key events coming today, 10:00 a.m. eastern will get manufacturing for the month of october, and after the bell we got earnings from steel and herbalife. the fomc meeting begins today. tune in tomorrow for the latest rate decision. david: and one week america will take to the polls. the department of justice yesterday sent a letter to congress saying they will work closely with the fbi to take appropriate steps as expeditiously as possible. with us from washington is marty schenker, our senior editor for global politics. realistic any expectation we will know more about the e-mails before next tuesday? marty: there is not a realistic expectation. it is possible they could go through with some co

mark: i am mark barton. welcome to bloomberg "markets." vonnie: from washington, d.c., coverdi arabia and stories from mexico and the next hour. global bonds resume me their slides. stories from mexico and the next hour. his election has made action and his election has made action and near certainty in december. >> speaking to bloomberg

mark: live from london, i am mark barton. welcome to bloomberg markets. vonnie: we are going to take you from washington dc to london and cover stories out of germany and china internet hour. president-elect donald trump leaves his tower in new york to head to washington. we will have the latest on his meeting with president obama and house speaker paul ryan. new forow rising to a the day well closing records in stocks europe. on whether we should be concerned of trump's plan to cruise -- to boost growth will lead to a vonnie: surge in inflation. and we look at a ragtag group of investors who backed trump even though it was a long shot. they may now get a chance to control the levels of power in the world's biggest economy.

francine: mark barton, thank you. donald trump has been outspoken of his criticism for the fed but hillary clinton could have an impact. we are here with michael mckee. i am very pleased to welcome professor sharon o'halloran. what i was surprised about of the last three weeks is that the equities were changing, fx was changing, but our expectations of what the fed will do in december did not change. is that because we were always thinking clinton would win or did it have little impact? michael: it had little impact in the short run and will have more impact in the long run. if donald trump wins and the markets crash, that will have an impact on december but if clinton wins, status quo and they are probably going to go in december. janet yellen and stanley fischer's terms are both up in 2018, and the president normally reappoint them late in 2017. this could quickly become an issue because donald trump does not like either and would probably replace both. the clinton administration would probably look to keep both so

mark: i'm mark barton, welcome to bloomberg markets. ♪ vonnie: we will take you from chicago to divide and cover stories in the u.k., walls and washington. -- wall street and washington. we go straight to julie hyman, looking at economic data. existing home sales coming out an annual pace of 5.8 million homes. 5.4 4 million was the estimate from economists. this means a gain over 2%. that is better than the drop that was estimated. richmond fedhe manufacturing index coming in with the reading of cointreau, a rebound from negative for -- with a reading of

this is bloomberg. ♪ mark: live from london, on mark barton. bloomberg world headquarters in new york and miami vonnie quinn. it's time for the business flash. the sec is among the regulators investigating wells fargo's sales practices. the bank filed a probative filing today. so far, it has resulted in $185 million in fines. and the departure of ceo john -- johntem pimc stumpf. pimco is losing its position as the world's largest fund. a federal judge has upheld a u.s. law that bars creditors from filing suits against puerto rico. the ruling offers a temporary reprieve to a u.s. territory struggling to emerge from a decade-long economic crisis. that is your bloomberg business flash. barring a dramatic turnaround, donald trump is on track to become the first republican presidential nominee to lose among white voters with a college degree. clinton has an average 12-point lead among white college gruas. that might be enough to deliver her the election win. graduates are not going to decide this, are they? >> anytime you are adding up the numbers i

let's head straight to the terminal for your asset check with mark barton. mark: this is my favorite chart of the day. hold 10-yearand to treasuries over similar yielding , rising to the highest since 1989. we've seen a selloff in both but u.s.german bunds, bonds have sold off more in anticipation of infrastructure spending. german yields have risen about 10 basis points since trump's victory. chair yellen speaks to congress today. her first big appearance since trump's election victory last week. she will be quizzed about infrastructure spending. she will be quizzed about her future as well. looking forward to that. wereoday said no bids placed at its first operations when it offered to buy bonds at a fixed rate, the boj announcing today it would carry out two operations, one to buy securities, another for debt of three to five years. the fact that they announced it still had the effect of bringing down the yield on the 10-year, the white line, the five-year, the blue line, and the two-year, which is the purple line. the euro's losing run has come to an end

here's mark barton. mark: the reflation theme is continuing. we are gains in basic resource stocks, and construction companies, all these companies which would benefit from a pickup in spending on infrastructure such as minors 2.5%. last week, we had the best week since july. those bond proxies, utilities and real estate. 30-year yield, part of that reflation. the yield on the u.s. 30-year is the highest level since january. crossing above 3% earlier. last week, the biggest move since 2009 on speculation trump would increase spending, which will boost inflation. $1.2 trillion wiped off the value of global bonds. pimco says the fed may move by three times come next year. it says long-term rates seem to have bottomed out. 10-year yields jumped by 37 basis points. it is worth remembering, hardly anyone on wall street saw it coming. none of the analysts surveyed by bloomberg said yields would rise above 2%. functions which shows how all the main currencies have fared since trump won that election. the only currency out of 31 tracked by bloomberg wh