130. 49. Mark carney may be pointing to a greater risk than the market had anticipated of cuts coming through the bank of england. Oil trading lower, brent down by. 8 . Vonnie we begin with our first guest, byron wien. It is his yearly visit to bloomberg tv and we are very happy to have him. Obviously, you are known for your list. We will get to some of those, but lets begin with china because one of the things that you said last year was that if we get a deal in the first quarter, and that is only happening in the fourth quarter, and it is only a phase one deal. We know that is getting science next week signed next week. What happens . On i think we will have trouble getting a phase 2 deal. To stealy promise not intellectual property. I think a broader deal is unlikely this year, but we will have the phase 1 deal. Remember, it is a transactional deal. Pork,l them soybeans and and we agree, they buy that and we agree not to raise the tariffs that were scheduled for december 15. That is a lowlevel deal. The big deal is still pretty far away from getting done, in my opinion. Vonnie essentially, the phase 1 part of whatever deal this turns out to be is not really ideal, it is almost a precursor to nothing . Byron right. Vonnie does that mean the stock market keeps rising . Byron i think the stock market has come to the realization that there is going to be a gradual decoupling between china and the united states. China is the number two economy, we are the number one economy. They are creeping up on us. It would be good to have a harmonious relationship with china, but i think investors have come to realize that whatever relationship we have with china is likely to be strained. We have learned to live with that. We lived with it all through 2019, and we are prepared to live with it in 2020. Guy as you say, we have learned to live with it. 2019, a year when stocks rallied, despite the fact that we didnt have significant earnings growth. We had all of the china stuff we had to deal with, brexit, so much turbulence, yet stocks kept on going. I guess liquidity is a big part of that. What does the liquidity story look like in 2020 two may be keep the stock story on the rails . Byron i think we are still going to have an upmarket this year. 500orecast was the s p would reach 3500. I still think that is likely. I feel comfortable with that. That is not too far from a consensus, but i think one of the reasons for it is that there is going to be monetary easing around the world, including in the united states. I still think we are not at the end of the fed easing cycle. The fedple think will stay with rates where they are now. I think we will see maybe as many as 2 additional fed cuts this year. It is the monetary accommodation that will allow multiples to expand further because i dont think earnings are going to rise that much. I only see a 5 increase in earnings. That is less than the consensus view. The consensus view is earnings up 10 . Guy why do we get fed cuts . I appreciate what you were saying about multiple expansion, but the fed sounds really comfortable where it is now. I was listening earlier on. The fed does not sound like it wants to move right now. What is going to get it to move . Byron what is going to get it to move further . Money,w, if we have easy that will get us to move further. Money is the most important driver of the market. In 2008, the Balance Sheets of the Central Banks of the world were about 3 trillion. They are now about 16 trillion. This market has been driven over the past decade by liquidity. I think that is going to be the case moving forward in 2020. Vonnie what do you make of the events of the last couple of days . Funnily enough, you said iran taking advantage of americas unwillingness to intervene on stopping apostolate the against israel and saudi arabia, among your surprises. It turns out that with the exception of the last part, it has been a surprise. We have already had something. Byron im going to count that one is a hit this year. I thought that iran would strike first. I did not think we would take anticipatory action. They were getting ready to do things. Trump said that very clearly and meeting yesterday. They were planning this and we decided to strike first and check out the major general. That we recognized wens potential hostility, took more Decisive Action than most people would have expected, and hopefully, that will neutralize iran. Hopefully, trump will have achieved his objective to tell serious. K, we are you do anything against us and we are going to strike back very hard on you are going to suffer. Iran doesnt want world war iii, we dont want world war iii. At least today, it doesnt look like we are going to have one, whether that mood indoors in iran and they nodded states is hard to say, but that is where we are right now. Why markets are back to where they were at the beginning of the year. Vonnie a particularly concerning part is a hostility against other countries in the region. He specifically name israel and saudi arabia. You also say the strait of hormuz will be closed at some point. Having seen how things have played out so far, do you stand by that prediction for this year . Byron i never change the surprises. I am still saying that if iran wanted to take the most Decisive Action it could without firing a shot, it could close the strait of hormuz. That would be a way for them to retaliate. Whether they will go that far or not, we will see as the year progresses, but that is something they could do that would really cause pain around the world. Bit,that is the important that it would cause pain around the world. Why does america care if the strait of hormuz gets shut off . Oil. S. Has got tons of china, india, these are the countries that rely on the golf. What kind of pressure are they going to put on iran . Byron i think they will put pressure on iran not to do that. They need the oil. Both india and china are deficient in oil. They are going to do what they can to keep the strait of hormuz open. They will put that pressure on, and that will be a neutralizing force. Unlikelihood of that surprise taking place. But if iran really wanted to take Decisive Action, that is something they could do, but that would drive india and china more towards the u. S. We will see whether that happens. Vonnie byron is sticking with us. A lot more to talk about, including some predictions for the 2020 elections. Byron, again, staying with us. And aviation regulators is the boeing 737 that crashed in iran try to turn back before plunging to the ground. The Ukraine International airlines jet disappeared from radar at 8000 feet. Witnesses say they saw it on fire in the end. Meanwhile, ukraine now says it is examining several scenarios. Among them, a missile strike and terrorism. Filing for u. S. Unemployment benefits fell to a fiveweek low. Jobless claims dropped. It is the latest indication the labor market remains solid. The government comes out with the december jobs report tomorrow. Those wildfires in australia likely to way down the economy. Goldman sachs sees immediate hits to private investors and farm production. Haveustralian fires burned an area larger than ireland. Prince harry and his wife Meghan Markle may become stars on the speaking circuit. They are stepping back as senior members of the British Royal family. They said they will work to become financially independent. One agent says that harry should be able to command as much as former president barack obama. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Bloomberg. Very cool response from Buckingham Palace on the last story. Coming up, more on blackstones byron wien predictions. That is next. This is bloomberg. Vonnie live from new york, i am vonnie quinn. Guy and from london, im guy johnson. This is bloomberg markets. Now to markets with abigail doolittle. Abigail take a look at the s p 500 here in the u. S. Investors seem a lot of it relieved that tensions between the u. S. And iran have deescalate it for now. Perhaps now looking forward to the corporate profit outlook that will kick off next week. Whether or not we can leave the earnings recession that the u. S. Corporate profit outlook has been mired. By for a few quarters we have also gained in europe with the stoxx 600 higher. In london, the ftse 100 higher as well. Apple the big gainer on the day. Another alltime high over the last year. Up 49 . Last year, gaining just about that same amount. Surprisingly the best year since 2019. Upestors have been snapping tech shares after the buying appetite after the selloff of the great recession. The bulls very much in charge for tech. Not so much for retail on the day. There is one winner here, but some big plungers. 18 bath beyond down after putting up a bad third quarter. Capital, analysts saying it is the worst they can remember since the great recession. Had a toughcpenney time with the holidays. Oil,ly, very quickly on oil down on the day, giving back all of its u. S. Airstrike gains. Told maybe there is upside in the nearterm. In the long term, you probably want to sell oil. Low, a 15go to a 20 year low for oil. Stay tuned. Vonnie thank you for that. We are back with byron wien, blackstones private solutions vicechairman. Back to another one of your and more nuanced position predictions for 2020. You say democrats will take back the senate. Byron that would really be a surprise. I dont think too many people think that will happen except democrats. As long as democrats think it can happen. There are a number of races that are pretty close. Shiftk there is a gradual in the country toward the left. Waype it doesnt go all the to the positions of that Elizabeth Warren and Bernie Sanders have taken. At this point, i would think trump would be reelected. I think it is possible that a number of individual states will shift democrat, to a democratic senator. Vonnie how would that change the political landscape, specifically that as it relates to things like payroll taxes and regulation, health care costs, the deficit . I dont think there will be a major change in anything because the president will still have the right to veto. I dont think it will shift all the way to the left. I definitely think that people will be allowed to maintain their own private health care system. I think the deficit is already over 1 trillion. I dont think even the democrats have an appetite for increasing that a lot more than it is. Has been are dismantling of regulation, but i think the economy has benefited. Maybe some of that will be reversed, but i dont think there will be a major reversal. If trump winsthat in the democrats take the senate, the market will be unaffected seriously by political considerations. On the other hand, if the democrats take the presidency and the senate, and they have the house, then, i think it could be a very different story. That combination would probably not be good for the market. Byron, do you think we are going to get a new fed chair as a result of november 2020 . Byron do i think we are going to get i missed the last guy a new fed chair. Byron no, no. Jay powell is doing a very good job. Trump may criticize him, but he criticizes almost everybody in his chair. I dont think theres any reason. If i am right and the fed cuts, that would be right up trumps alley, and that would cause them to be more positive about jay powell. Guy can i just come back to that cut . Why do you think the fed is going to cut twice this year . Byron i think the economy is going to be weaker than people think. Most people think we are going to get 2 2. 5 growth. I think growth is going to come in below 2 . I still think inflation will be tame. It will go up some, but it wont be up seriously. Feelfore, the fed will that they have a license to cut rates further in order to keep the economy going. One thing we dont want to have is a recession. A recession would be very bad for the budget deficit. It would be very bad for the mood of the country in terms of reelecting the president. The fed willat take whatever action is necessary to keep the economy growing at 2 . If it looks like it is going to slip seriously below that, they will cut rates. I know that is a nonconsensus view, but that is what the surprises are all about. Vonnie is that the same as why you anticipate negative rates will persist abroad as well . Byron monetary accommodation is going on all over the world. That hasnt stopped. It stopped in the u. S. , but i am saying it is going to resume. It is continuing all over the world. It is continuing in japan, in china. And in 157 other countries. Vonnie and that is not going to change this year. Why do you see the 10 year yield moving up to 2. 5 then . Byron because the japanese and japanese are important buyers. The federal reserve, we dont think they are going to do a lot of buying, but they will do some. The Social Security administration, they will continue to buy. But the two other buyers are japan and china. They are upset about our trade policy. They have already been showing up less enthusiastically at the auctions. I think there is a lack of demand that is going to allow rates to flow somewhat higher. Not inflation, not an overheated economy. It is a lack of demand that will allow rates to rise. Do you think that u. S. Stocks are going to perform better this year or do you think the rest of the worlds stocks are going to perform better this year . Byron i think u. S. Stocks can still go further, but i am positive on the emerging markets. I think they will do well. Have andefinitely exposure. I have a 10 exposure in my location. Im not as optimistic about europe as some. Looking for a are chance to make a major amount of money, good Stock Selection in the emerging markets could be very helpful. Vonnie it is absolutely a pleasure, as always. Byron wien joining us from the blackstone group. He has a surprises for 2020, a couple of which have already happened. If you have a bloomberg terminal, check out tv. You can go back and rewatch the byron wien interview. This is bloomberg. Live from london, im guy johnson. Vonnie and from new york, im vonnie quinn. This is bloomberg markets. Here is a look at some of the biggest business stories in the news right now. It was not a good Holiday Season at the mall. Retailers are reporting declining holiday sales. Department sales and clothing chains are losing ground. For theaid profits year will be below what was previously said. Holiday sales were hit by brutal price pressure in britain and the shift to ecommerce. Several gave generally downbeat christmas sales updates. Maybe one of the most eyecatching help wanted in recent history, you can make 100,000 to manage a restaurant. It is taco bell. The chain will test out the higher salary and select restaurants in the northeast and southwest. It is hoping to attract workers and keep them on the team. That is your latest Bloomberg Business flash. Ahead, nancy pelosi about to hold her weekly vonnie live from new york, im vonnie quinn. Guy from london, im guy johnson. This is bloomberg markets. Lets check in with the bloomberg first word news. Here is ritika gupta. Ritika House Democrats headed for asa bolick showdown on iran with President Trump for a symbolic showdown on a run with President Trump. The president re action on iran unless he has chris congressional unless he has congressional approval. Chinese buy from your liu he will travel to washington design phase one of a trade deal. The u. S. Has agreed to suspend new tariffs on chinese imports. It is also reducing some existing levees. China has agreed to buy more chinese farm products. Lebanon has issued a travel ban for carlos ghosn, the fugitive former nissan chairman. Lebanon is responding to a notice from interpol. Lebanese prosecutors questioned ghosn for almost two hours about the charges he faces in japan. Theyve asked him to turn over his french passport. Note taking a knee, no hand gestures with political meaning, no disrespect at medal ceremonies. The u. S. Olympic committee specified which protests will not be allowed at the 2020 tokyo games. Athletes were reprimanded for medal podium protests in peru. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. Vonnie thank you. House Speaker Nancy Pelosi will be holding her weekly news presser shortly, as some democrats urge her to send beach meant charges against President Trump to the senate. To send impeachment charges against President Trump to the senate. She says she is holding back until Senate Majority leader Mitch Mcconnell sets out rules for the trial. Here with us is bloombergs alex wayne. When can we expected of element here . Expect a development here . Alex not sure. Mitch mcconnell says no witnesses until both sides present their case to the senate, and then senators would decide whether they want to call witnesses. Democrats had by pelosi and Chuck Schumer in the senate want an agreement that will guarantee certain witnesses, notably john bolton, will definitely testify to the senate. Mitch mcconnell has said he wont agree to anything like that. Guy how much pressure is nancy pelosi facing within her own party to move on with this . Alex shes facing a lot of pressure from the left flank of her party to hang onto those articles of impeachment until the get better senate rules. A lot of liberals think its just fine to hang onto the articles indefinitely. That would leave donald trump without a resolution in his impeachment. He wouldnt be able to claim hes been exonerated by the senate. Proceduralt on the aspect of all of this, as soon as we get a little bit of movement, would it be likely to go quickly . Would we see a trial took place in a few weeks . Alex i think theres a lot of pressure on both sides of the aisle to conclude a trial rapidly. There are five democrats senators running for president. On Iowa Caucuses come up february 3, followed by the New Hampshire primary shortly after. Those senators dont want to be stuck in a senate trial for longer than they have to be. Guy theres a lot of interest around the world, but certainly here in europe, about the intelligence that was used to back up killing of general soleimani. What came out of the briefing . What do we know about the briefing with politicians yesterday on the hill . There seems to be a lot of concern that came out from certain quarters that it wasnt efficient and that the tone was wrong. Utah senator mike lee of took a blow to the administration for providing senators very Little Information about what led to the solomonic killing. Askedrs repeatedly for any intelligence that supported the strike. The officials who were doing the briefing, including secretary of state mike pompeo, refused to provide that intelligence even though they were in a classified setting. They were conducting a briefing in a secure room in the capital. No cell phones were allowed in, and still, the senators got no idea of what led to the strike against soleimani. Vonnie has the president managed to get a bump from this aggression without actually going to war . Know what the polls look like after the iranian counterattack, but immediately after the strike on soleimani, reuters was out with a poll asking americans about the president s policy on iran. 53 of voters said they opposed it, a nine percentage point decrease since december, so it seems like the strike was not very popular among all voters. However, republicans looked to be very supportive. We had a story this morning reporting that Republican Voters are giving the president a lot of leash on Foreign Policy. He promised when he campaigned for the presidency that he would withdraw u. S. Forces from the middle east. Hes done entirely the opposite. Weve got a larger footprint in the middle east then we did when he took office, and now hes taking us to the bank of war with iran. Least,can voters, at seem ok with this. They are letting him execute his Foreign Policy and are very forgiving. Guy thanks for the update. We really appreciate it. Lets stay with a related story. Ukraine has added to the confusion surrounding wednesdays boeing plane crash just outside tehran, saying it is looking into whether or not the jet was downed by a missile or bomb. This after iran insisted the aircraft was victim of a technical failure or engine fire. Jet,eople on board that all perished. George ferguson of Bloomberg Intelligence joins us. A lot of conflicting reports. There are some reports suggesting the airport so just in the aircraft tried to turn around. Other reports suggest it was on fire when it tried to conduct that maneuver. What do we know . George im not sure what we know because of the region it happened in. It is hard to get concrete details, as you said. It seems like from some of the videos you have seen, it was a fireball coming out of the sky. Typically, when you have an airplane fire, theres a number of fire suppressant systems that would keep it from spreading very quickly. Usually you dont have such a astrophic total farrier catastrophic total failure. To us, it seems like whatever happened, it was catastrophic and very quick, and that is typically not going to be in engines higher or other systems fire on the airplane. Vonnie correct me if im wrong, but it seems like a good sign that iran says it would get assistance from other countries involving the tragedy involved in the tragedy. That seems there would be some transparency here, at least. George yes, the reporting ive heard is that they would be accompanied by the ukraine to. Ook at the black bo i think it would be best to see the faa European Regulatory Agency involved in looking at the box. I think youre going to get your best investigators in the world that way. Guy in terms of how this is likely to play politically, what are you hearing . It is unlikely, i would have thought, that the u. S. Would be involved in this. Is france the most likely candidate to be the country that investigates the black box . It is in a pretty bad state, but i understand the data is readable. Traditionally, the macula tory the Regulatory Agency from the manufacturer is involved, which would mean the faa or the ntsb would be the best agency to be involved in this investigation. My guess is, given relations in , myregion are strained guess is that it could be some of the french regulatory agencies that would be involved to take a look at it. Withe what happens families in situations like this . Do they get a say in what happens investigation wise . George i think here, we are in a bit of uncharted territory. The iranian regime, im not sure how much they are going to listen to families. I think you can apply some of that pressure in western europe and the u. S. I dont know. Its really hard to say on that one. Vonnie we will keep our eyes out for more. Thank you for joining us today from princeton. That is George Ferguson of Bloomberg Intelligence. Coming up, were of the words. Carlos ghosn strikes out at the japanese government and nissan. The japanese government strikes back. We will have the latest next. This is bloomberg. Vonnie live from new york, im vonnie quinn. Guy from london, im guy johnson. This is bloomberg markets. Kohls is our stock of the hour this morning. Shares of the retailer are plunging, as our shares of macys and bed, bath beyond. Specifically, kohls had a rough Holiday Season. Abigail they did, and the interesting thing is it could have been a case of expectations being a little too high. They put a lot of initiatives into place recently to drive traffic. Returned from amazon, a focus on wellness, and other sorts of fitness where early hoping that that would help drive traffic there. The cost sales decline not huge, down 0. 2 . The bigger thing could be that for their fullyear physical view, they say profits are going to come in at the low end of the range. All of this leading bank of america to cut their rating to buy from neutral, worried that they may have to use money to bring customers into the stores, and that could weigh on the profit outlook going forward. What is so interesting, you also mentioned these other stores. Jcpenney also had a rough time. Macys reported holiday comp sales, and those were down as well, but those shares popped. In fact, on that report, up about 8 , giving some of that back today. Ceobig difference, the signaling a positive tone, where the ceo of kohls is doing a sort of mea culpa, saying that womenswear was the big area of weakness, not offsetting some of the strength and other initiatives. Macys also talked about cutting stores, and for brick and mortars, theres the idea that there are too many stores out there with ecommerce going on. Macys saying they are cutting stores, along with some optimism around the consumer. Even though the holiday was down, it was better than the previous quarter, so some stabilization there. Bed, bath beyond shares absently plunging. They pulled the guidance, and one analyst saying the worst quarter going all the way back to the great recession. That at bathting and beyond story right. Vonnie thank you. Former nissan and renault executive carlos ghosn went on the offensive in his first press conference. Ghosn so who are the people . I am going to give you names, ok . . Who is part of the plot . Obviously are part of the plot, but there are many other people. A number of the board was the link between the board of nissan and the authorities. Vonnie joining us with the latest is bloombergs greg farrell. Japans Justice Minister held two briefings, which is extraordinarily unusual for that country. Im curious, could carlos ghosn ever be trialed in absentia . Greg yes, that might be the best way out at this point for japan. Japan is in a box. Theres no way they can settle. Theres no way they can back down. They probably dont want too much of an erring of their justice system, but trying in absentia, trying to be fair, its probably the best way out at this point. Guy to what extent is the japanese legal system also on trial here . It was fascinating. You had two conferences a little earlier on. The japanese Justice Minister, lets just listen to what he had to say. No matter what nationality you are from, top class businessmen like him should respect the law of the country where he worked and deal with the legal procedures with legitimate evidence to prove that hes innocent. Guy she, even. Greg, to what extent is the system on trial here . Japanese deeply embarrassed by this whole process, pushing back pretty hard. Greg they are pushing back, and that is because ghosn is an internationally respected executive. For him to unload the way he did on basically the japanese regulatory system, as well as the management he left in place at nissan, this is a very painful moment for them, so they have to fight back. They dont want this aired. We see from his impressment and the way he was treated. It did not reflect well on the japanese system. I would say describing the japanese regulatory system as on trial is perhaps going too far. It is not. But exposing some of the either abuses or exposing some of the extreme measures that they took compared to the u. S. , i think, is helping ghosn and hurting them. The fact that there were these press conferences from the japanese head prosecutor is evidence of how painful this is and how necessary it is for them to counter everything ghosn says. Vonnie interpol has issued a red notice. Lebanons prosecutor issued a travel ban and also questioned ghosn on this notice. Does that now satisfy lebanons need to comply with this interpol red notice . And by the way, and 2019 alone, interpol issued 13,377 red notices. It is not even an arrest warrant, and who knows how many chief executives, if any, are on that list. Greg thanks for bringing this up. This is another element, the diplomatic relationship between the country of lebanon and japan. As we saw from yesterdays press conference, carlos ghosn did not want to do anything to interfere with that. The lebanese government has to maintain good ties. They have to do what is right, or at least be in comport with japanese requests. Having said that, i am not sure how much of a difference it makes to ghosn. Hes not going to be extradited from lebanon. You can also travel to france. Among the few countries that do have extradition treaties with japan are the u. S. And south right now ont is ghosns radar screen, but there is a nomadic there is a double medic component you just highlighted that is worth watching. Guy where does this leave nissan . He really took it to nissan yesterday and its management, and its ability to make decent decisions, and the direction of travel it is going and. As we try to digest all of this, to what extent is that influencing an already beaten up stock . Greg it is totally the victim ofall sides of this in terms the discrediting of management, the discrediting of how its been run, and no matter what you think of ghosn, he was clearly a success for 20 years there. No one has been able to carry the torch to followup on what he was able to accomplish. So yes, clearly nissan is the loser on all sides with this. Vonnie can his fortune be targeted somehow . Can shareholders sue, even french shareholders . Greg im not sure of that. We have a good story that came out yesterday. First of all, he lost his bail. A lot of his payout from nissan, deferred compensation, stock options, etc. Will presumably be gone. I would say his estate is down to 140 million, down from where he was before. At a certain point, lets just guess how much money it cost to get him out of there. I would guess 10 million or more. He doesnt have an infinite amount of resources as far as that is concerned. Vonnie we are going to be talking about the story again. Thank you again to bloombergs greg farrell. Guy i wonder with the book and the film rights are going to be worth . We will see on that one. Still ahead, oil is at the levels we saw basically before the killing of general soleimani a couple of days back. We are going to discuss all of that next. We are going to take you to the cme. This is bloomberg. Vonnie lie they new york, im vonnie quinn. Guy from london, im guy johnson. This is bloomberg markets. Lets talk about what we need to know from chicago. Futures in focus. Knuckman of agoura financial joining us from the cme. Walk me through the technical picture you have seen over the last couple of days. Alan we saw new relative highs and lower closes, a sign of stability and a lot of sectors. Oil closed below 60 yesterday. Gold got below 1600. You also saw the vix up at 16, now down to 13. It was negative on the day yesterday, and treasuries were negative. That is all positive for this stock market that shows remarkable resiliency. The question is, was this the end, or the end of the beginning . We will have to wait and see, but the technical patterns were somewhat negative here for a lot of those assets. In the short term, because they have come such a long long way very quickly. Guy you still got the s p at 3500. How do we get there . Talk me through the technical picture that gets us to that level. Byron was talking about that level earlier on, as well. Alan alan it is a simple retracement alan it is a simple retracement pattern. Every time the market has a crisis, it has overcome it. 2018 whereecember the market dropped, and the s p dropped 600 points. If you take that drop on top of the old high at 2900, the target is 3500. So it is a full v recovery. The nasdaq has already done that. That is the next upside target. That has happened every time in market history, the distance of the fall on that old highs. I am not going to be one to say it is not going to be happen this time. This 3200 level in the s p, we traded between 2800 and 3000 for many months, from may to october. That target of 3200 on the upside should act as a support on a weekly basis. We are going to get some gyrations, but keep an eye on that. Guy great talk. Thanks for your time. Ckman joining us, agora financial. Vonnie it is time for your Bloomberg Business flash. Iphone sales surging in china. Official data shows smartphone shipments there grew almost 19 year on year in december, a big jump from previous months. Sales were boosted by the release of the iphone 11 in september. Microsoft is looking for another way to cut into amazons lead in cloud computing, unveiling new cloud tools designed for retail customers. Microsoft will add a feature to its slack rival come of the teams corporate chat program, that will let workers push a button to turn their mobile phones into walkietalkies. Has shifted more than 70,000 workers to teams. Coming up, we will speak with longview economics ceo Chris Watling as we count down to the european close. This is bloomberg. Guy the geopolitical risk rally rolls on as iran tensions fade. Investors turn their attention to the signing of a trade next week. Will that be enough to maintain the momentum . The outgoing governor of the bank of england says there he may says there may be a need to do more to sustain the economy. The pound sees pressure as a result. Aigthe ceo were retire from in march. What to make of the empire he built. We are now counting you down to the european close on bloomberg markets. Vonnie we are back today one, it looks like. The s p 500 up 0. 6 . And even better story for the nasdaq. It is up about 0. 8 , close to 1 . The 10 year yield back up to 1. 90 , at the highend of this year to range
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