tracy alloway had an interview on this in a wood of the. >> the market is a market. they have done a great job in stimulating the economy. president obama had started the aircraft carrier to move slowly, and he did a good job at it. the market is always dangerous. it is always dangerous to take too much credit for it on the way up as you also have to take the blame for it when it goes down. anchor: what actually sparked the volatility? have you seen something like this before? guest: sure. the quantity of course is frightening, but now we are dealing with etf's and computer-related programming. i think the nervousness and markets is in the anticipation of interest rates rising. i think it is significant and we will see what happens in the next couple of years what happens in the overall economy. also, the emotional transition. jerome powell coming into the fed, the world being maybe not as transparent as we hoped -- i think economies all over the world are in very good shape. i think it was a momentary pause for long-term gain and i'm not really concerned about it. t

tracy alloway broke down the numbers for us and spoke exclusively with the company's cfo. greg: these are aldar's 4th quarter year and results. as we do every year, we fair value our portfolio, causing an adjustment of millions running through the net income this year. reflecting about a 2% decline in our overall investment property portfolio value. which we think sits very well against the wider market backdrop, which hasn't seen price declines anywhere from 5%-10%, and underscores the robustness and quality of our portfolio. tracy: talk to me about the wider market, because that suggests something of a soft market. greg: we are seeing elements of softness, but we have more reasons to be bullish. what we see this year , so going forward in the development management business, we see strength, we see an undersupplied market in certain segments, a middle income market for the off plan properties that are underserved, and we believe we will sell more product in the market they must steer. -- then we did last year. tracy: you have a hefty cash stockpile. do you have plans to

tracy alloway and i got more on the chief economist. jean-paul: i was expecting a bigger cut. i know that seems like a lot in the context of emerging markets. remember, rates were raised 700 basis points from the time of the devaluation up until last week. this is the first step of a very long journey to go. to be perfectly honest, i don't look too deeply into the monetary policy statements out of the central bank of egypt these days. when it comes to insight that it can provide on the future course of policy, i found them somewhat lacking. tracy: you are phrasing every diplomatically. jean-paul: i am trying to be diplomatic. from my perspective, it is a big cut, it is encouraging, it shows there is confidence. remember, 100 points is only half of the surprise hike we saw in july of 2017 when they raised rates 200 points when everyone thought the rate tightening cycle was over. we have a long way to go before we are anywhere near normalization in monetary policy. tracy: if you take a look at egypt's foreign reserves, i put them on the chart behind me. you can see they are now

toldake lost brothers tracy alloway that they are in infor the long-haul that regulation would be bullish for the space. >> we remember bitcoin when it was eight dollars. happy with the price around $8,000. you have seen the cycle happen, i lost track of how much it has happened but probably over 20 times. there is a lot of excitement, new money coming in. it gets a little frothy and corrects back but it seems to find a floor that is healthier and higher than the previous one. i think this is going to be the same. >> does the volatility concern you? him sick it would be difficult to build is this plans around an asset that is this volatile. >> the volatility is a function of being a new global asset class. one of the things we worked on is we launched a futures intract with -- december. people can start to short bitcoin but it is only six weeks old. it is a great step in the development. >> has that played a role in the price decline? say. is hard to it increases price discoveries so we are seeing more and sophisticated traders expressing viewpoints on it. >> do you have an idea of what w

. >> i'm tracy alloway. christine: hitting the high level since bill gross quite in 2014. earnings rose to the last three months of the year. pimco has hired more than 500 employees over the last two years and plans to add 200 more in the next two years. agreementscaramucci's to sell his stake is inching forward. the national security panel that evaluates foreign takeovers have accepted the deal. he first agreed to the deal more than a year ago as he was shedding business conflicts. jpmorgan jamie dimon was wall street's best paid ceo. his 5.4% rate was the smallest among the five biggest banks. had a 20% pay's rise. amazon, youtube, and twitter may bid for streaming rights to thursday night football. they are willing to cough up hundreds of millions of dollars for a deal as long as five years. andnfl is getting help negotiating from fox, which owns the tv rights through 2022. that is your clerk -- that is your bloomberg business flash. tracy: thanks so much, christine. we have a busy week ahead. on the central banking front. let's take a look at some of the events we have

tracy alloway, live for us in upper darby. she has a lot coming up in the next hour or so. the world bank has likened cryptocurrencies to ponzi schemes. bitcoin bulls are not deterred. this is bloomberg. ♪ david: this is "bloomberg markets: asia." i am david ingles. haslinda: and i am haslinda amin. a quick check of the latest business flash headlines. softbank in discussion with reinsurance giants over the purchase of a minority stake. the zurich-based company said preliminary talks have been held, but said any transaction is a long way off. the reinstatement comes after the wall street journal said softbank is already in talks to buy up a third of the company, a stake estimated to be worth $10 billion or more. david: rebel bank is to pay just under three and a $70 million to resolve claims that helped hide money laundered by drug cartels in mexico. conspiring toted defraud the united states and obstruct regulators in the state. the justice department says hundreds of millions of dollars of untraceable cash flowed through the bank and its branches near the mexican border

. -- is get another voice, tracy alloway. european equity markets is affirming. u.s. futures pointing to a more positive start over in the states. what have we learned in the last 24 hours? what signals have we been able to take out of the noise? tracy: i think there is consensus beginning to build that will we saw was a fundamental repositioning that started on friday. that was then spurred on by some systematic or quantitative fund selling the we saw really accelerate yesterday. something is are being pointed on what we saw in the vix when it spiked above 30. the ensuing affect that that had on a lot of these short volatility products that have been developed in the market. some risk aversion that came about. matt: what are you hearing when you talk to investors who are along these markets? is everyone getting out? was this an algorithm thing? is it going to continue? tracy: again, i think the consensus that we have seen is it has been exacerbated by algorithmic trading. we saw this simultaneous drop in bonds and stocks. that is extremely painful for the risk parity

tracy alloway is there. good morning. this is really a chance for people to discuss not what is going on in the regional economies alone, but globally. on that note, there has been a lot going on. , thewith tom barrick founder, chairman and ceo of colony north. thank you for joining us. tom: great to be here. owned theald trump rally on the way up, does he own it on the way down? tom: of course not. sides, but nobody owns it. the market is the market. president has done a great job of stimulating the economy, theident obama started aircraft carrier moving slowly and did a good job. the market is the market. thes always dangerous on way up because you will get accountability on the way down. we are in good shape. tracy: what actually sparked the volatility we have seen? have you seen something like this before? tom: sure, i'm in the quantity is frightening but now, we are dealing in etf's and computer related programs. i think the nervousness in the market is in anticipation of interest rates rising. it is priced in the ma

he made the comments in an exclusive interview with bloomberg's tracy alloway. >> always been a tough situation. wasreason i was for brexit because of sovereignty. that is moving forward. it is a very tough job. to say i'm pleased is overstating it. it is moving forward. nejra: the u.k. prime minister never toher cabinet compromise over their demands on the european union. according to officials, theresa may is adamant that britain must aim high. this as her inner circle struggles to hammer out what kind of trading relationship to seek. that is your weekly brexit bulletin. francine: we are just getting some u.k. data. worse than expected. down 1.3% production for the month of december, month on month. -1.3%. year on year, zero flat. looking at manufacturing, that seems a little bit stronger. 1.4% instead of the 1.2%. it seems to be evening out somewhat. pound, 1.3945. that is an intraday chart, kind of moving sideways. one of the easiest parts of the brexit talks is becoming as difficult as the rest. politicians and business on both sides want a transition period, but domestic pressur