About to make his biggest deal ever . Greece said creditors could be struck as soon as tomorrow. This as Alexis Tsipras ahead of a crucial debt repayment. Shares in china have seen their biggest oneday gain in a month in hopes that beijing will embark on further easing. This after falling towards a sixyear low and export s slumpd 8 in july. Joining us, jpmorgan, josh, a very good afternoon to you from london. Lets just sum up the latest data release that weve had over the weekend, saturday and sunday. How disappointing is the data in your eyes . Sure when you look at exports and imports, clearly theres been a significant slowdown. We normally look at things like fixed investments. Things like commodities just up 9 year on year. And investments up just 4 year on year. Clearly theres more scope of easing on the policy side. Just what the market is expecting today, the shank had hi composite nearly 5 . So expecting some more easing. What sort of easing are you predicting to see . And will it have desired effect that the equity market is clearly hoping it would have . Sure. When we look at that policy, we think about 25 basis points and two more of 100 basis points, i think youll see more on upsizing. Weve seen it upsized from 1 trillion, to 2 trillion. Rnb, theres talk of going to 3 trillion. I think that would help ease the pressure on financial vehicles existing year to date. So clearly, that would be something to solve. I think when we step back and look at the bigger picture, were at a very high level. Even today Mortgage Rates are 5. 5 . Corporate rates are at a6 . When you think of that bpi number, thats almost double rates on the corporate sector. We do think its something that happens over the next couple of quarters and hopefully adds relief to the private sector. Josh, one of the most persistent means has been the weak Economic Data coupled with the measures taken by the central bank. When does the story change . When do the reforms put in place by the pboc actual go through the economy . Thats a good point. Weve seen monetary policies like the psl, sof with borrowing rates of 3. 5 . Ultimately, this is towards a more transparent rate in the market. One of the policies youve had with china, theres a bit of ambiguity. That may have been a strength with beijing because they were allowed to tell different stories to different participants, interest and banks. And thats going to come down to having one rate or a corridor of rates to help simplify the message as to what Monetary Policy is. Again, thats something that we think will happen going forward. Josh, over the last decade or so, weve seen china move slowly but surely towards a more financial liberal and market friendly state of affairs. And that has slowly raised the dmreb credibility in the eyes of investors. Has that credibility thats been slowly but surely earned is that because of the measures announced because of the market slide have been pretty extraordinary, havent they . Yeah, i think obviously there were some policy mistakes there. I think if you look at the two biggest issues here, probably one was the lgvu issue and the policy with equities. I think weve seen a significant amount of leveraging within the equities. From 1. 2 trillion to 1. 3 trillion in the last two months. Volumes are down about 6 . I think some of the product issues within the market with regard to leverage have come out. I think on one hand, you have, you know, the weak Economic Data that would certainly point towards more coherent easing going forward. But the other thing is you deleverage the equity market. It that was a concern. You have a small group of investors using leverage in the market. Thats going to provide a little for investors. But that healing process of deleveraging the equity market i think is finally happening. Josh, talk us through it, what are your cause for the big accounts that you cover . In general youre not quite constructive on these names, is that right . I think after the pullback, we looked at the bank stocks, from 0. 8, to 0. 9. If you were to look at anpl sales and writeoffs that increase from, lets say, 5 of the stock in 2012 to almost 40 to 60 of the stock today, so surely speeding up the npl sale process which definitely helps clean Balance Sheets. And the other thing is youre seeing collapse to bad areas. Certainly, manufacturing and trade were down 5 in the last half and theyre shrinking those types of areas. We are quite sure the banks are going to wipe things on the Balance Sheet side. Go ahead. Go ahead. No, i think within the other thing, like insurance, theres definitely a great longterm story there. I think, you know, the brokers are having a much more difficult call to make just because of the policy issues that theyve had because of the fact theyve been asked to buy equities. I think its more difficult to get your arms around those. Sum up for us, volatility can strike of course anywhere. When taking a look at asia, josh, which do you think are most vulnerable to big swings the next coming months . I think when you look at on ye obviously the shenzhen market, and theres concerns on other sources of leverage that could be more of a risk to stocks. We actually like some of the beaten down stuff. The banks are a good place to hide 5 to 6 dividend yields. Given the policy focused on and given the valuations, the banks would be the place to put money. Josh, pleasure to have you on the show. Head of Asia Financial ServicesEquity Resources at jpmorgan. Typhoon soudelor has left 1500 people and thousands more evacuated on chinas east coast. It skilled six people in taiwan before crossing the mainland into the fujian province. Now, taking a look at european equities. Wilf. Seema, thank you very much. A desent session in asia, that hasnt carried through to europe. Were looking at 0. 5 of a decline on the stocks. So continuation of how all of this start last week. More pronounced disappointment in u. S. Over the course of last week as well. Lets have a look at the individual markets as you can see, decline, relatively sharp declines for continental europe, germany france, and the ftse down, 1. 8. The minors are weighing on the uk index following that disappointing data out of china. Lets look at individual movers shares in dixon house, after the company says it was the victim of a cyberattack. Personal data of up to 2. 4 million customersvy has been exposed in the attack. Its just below flat, after a British Company agreed to the advanced business in cash. The company says it expects the acquisitions to be earning in france immediately. Lets have a look at the commodities. You can see across the board there, as they take a hit this morning because of the disappointing trade from china, particularly, export data as you can see, around that, 2. 5 declines across the board. Bond rates, lets have a look at them. We did see a little compression friday. Not too significant, not too pronounced the move, because the jobs data did come out in line with what we were expecting. September also possibly in play, 2. 18 on the tenyear in the u. S. Today. And a relatively muted week last week for the euro. Just below 0. 1 still. The yen just regained some ground last week after a very poor week excuse me, poor month for the yen june and july, and sterling, we know giving up a little bit more, 1. 547. Whats coming up . Is Warren Buffett about to make the biggest deal ever . Thats coming up. Plus, flying the mass, twitter with shares on the tech fall within one dollar. Plus, donald trump with another dustup, this time with fox news megyn kelly. All of that later in the show. Welcome back, ill give you updates on the unfolding situation in istanbul that we told you about earlier. We understand that the u. S. Consulate has been closed. This is just hours after a car bomb attack that also took place in a Police Station in istanbul separately. Theres no reported deaths related to the u. S. Consulate attack. There are reportedly a couple of deaths with the bomb outside the Police Station later in the day. Thats the update. Certainly at this point, an unfolding situation, a couple of different stories just over the weekend when the u. S. Is starting to send fighter jets to aircraft stations in turkey. It could possibly no one has yet taken credit for either of these attacks, this is just a couple weeks after president erdogan has decided is this a war on terror, and hes going after pkk, turkish nationals and hes now reportedly on board with coalition fighters. Asking for a buffer zone between u. S. And turkey. And this all does lead back to the fact that the man is looking for earlier eelections. Hes hoping to get the super majority in parliament once again. And remember he was looking for the super majority earlier this year. A lot of things at work for the moment for president erdogan, certainly the attacks are very, very damaging in terms of the relationship that he has with the United States. Theres another story i want to get your point on, the country is expected to talk about the situation in the middle east. The u. S. And saudi arabia continue to support rebels continuing to oust the syrian president to back bashar al assad. What are we expecting from this meeting . I would expect to see a postwar relationship between United States and saudi arabia. I asked, and i asked is it a marriage . When you look at the players here, Sergey Lavrov, the foreign minister and john kerry. We know that Sergey Lavrov is on the same page as president putin. We dont know necessarily that john kerry is always speaking specifically for the white house. Weve seen so many instances where the rugs been pulled out from under him. So its going to be interesting to see that relationship develop further. Certainly with regards to syria and chemical weapons and whats happening at the u. N. , the situation is much broader. Who do we think the u. S. s strongest ally is today . I think they would say saudi arabia. What i saw when i was in riyadh the last couple months, john kerry and his entourage was there as well. When i spoke to members of that entourage coming out of meetings and saudis coming out of those meetings, i heard a very different story. Saudi arabia and certainly the uae are allies. Were starting to get back in bed with egypt. That was something on hold for the last couple of years. But whether other states would say that about us is the question. With iran, that has been the biggest session . Absolutely, that has played into the conversation in terms what the saudis need to be doing and what the saudis themselves decide to do in yemen because they felt threatened there. Certainly a bigger question as to who are the allies of the United States, not just in the middle east but abroad. Hadley, thank you so much. Shots were fired overnight in ferguson, missouri, reportedly wound would go people. County Police Confirmed the shooting happened after a standoff between police and protesters who were attending a rally to mark one year of the shooting of Michael Brown got out of the car, shots were fired again. He ran behind the building. Theres like a fenced area back there. Theres really nowhere to go at that point. He engaged the officers at the time. There were four officers in that van, all four fired at the suspect. The suspect is in a local hospital, hes in critical unstable condition and surgery. Warren buffett and Berkshire Hathaway are reportedly close to a deal to by precision castparts. The decision which may be announced today may be worth 30 billion. Berkshire is one of the largest. A deal would extend buffetts investment into the sector which contributes to the berkshire line. You see 17. 3 . The Berkshire HathawaySecond Quarter profit, 47 on declining investment and underwriting loss on insurance business. Operating profit 10 below analysts forecasts. Revenue rose 3 while the book value for share was 2 . Now berkshires b sales were 1. 5 . You see down a similar amount in germany. Im kind of interested in this deal with precision, though. The timing is very interesting because youre looking at the dow transport index which is a basket of auto airline stocks. Trading territory down about 11 from the highs in 2013. But clearly, this is an opportunity. I agree. This is stronger not just for u. S. Gdp growth, but global gdp growth. The kind of thing that this company is exposed to hes going for what may give the rest of us a little bit of confidence. The other the factor on the scale which has slightly disappointed me. I havent realized i wouldnt say this is the biggest takeover, but a big teal, i cant believe that would be the biggest deal that Warren Buffetts ever done. Im never looked at the stocks before. Yeah, 1 billion on it. But definitely a big deal. As one of the richest men at this point he would have made a bigger acquisition. The stock of precision down about 20 this year. Perhaps this is a good bargain for mr. Buffett. Yeah, exactly. One to watch there. Dick costolo may step down once a replacement is found for the ceo job. That person would now have to report to three, costolo and three other investors. Lets have a look at twitters stock, down 1. 8 on friday. Of course, that now fractionally above the ipo price. And down significantly over the last three months. For me, i have to say this kind of comes back to the area where one where he does step down, costolo people thinking if he did step down, he would stay on the board and now hes considering not staying on the board. Absolutely a possibility. I think this highlights that there is this desire to bring in some new blood on to the board. And perhaps take out some of the old names and bring in some new people. But the question is, its now been over, what, seven, eight weeks . And we still dont have a name in terms of who is going to be the new ceo of twitter. Does that highlight that its that hard to find a candidate. Or is it just when fall comes well announce who the ceo is going to be . The other question is, is jack dorsey wanting to take the job full time if investors start to welcome that. Thats definitely a possibility. Im not sure he can be fulltime ceo of two big company, maybe hes weighing which one he prefers. But also, i think its good to see that these other guys are stepping off the board. Whether its dorsey or others. Because not only are they past ceos of the company, they hold a lot of stock. And i think thats hard for someone to come in and take a new vision on the company when they know theres big elephants and the one behind them, running the company, still hold a lot of respect and so on and so forth. I think its highly unlike for jack to stay as ceo. Looking to the public as we know before on ipo, theres a lot of work to the road Show Marketing and really, you know, helping to build the brand ahead of going public. If thats the case, i think jack dorsey needs to spend time on spare and not twitter in the between time, we are looking at the stock trading very close to its ipo price. Were going to stick to tech. There are slashes coming out on al baba. Alibaba is going to invest in a 9. 9 stake in suning. It will invest up to 1. 2 billion to subscribe for 27. 8 new issued shares of alibaba. The head line here, alibaba says its going to invest 28. 3 billion rmb for stake in suning. Another story on uber, uber attempted to load up the popular car app on saturday morning. The company apologized for the, quote, brief outage. Which greece wrap up bailout talks before the dead repayment . Word on the negotiations coming up after the break. Some neighbors are Energy Saving superstars. How do you become a superstar . With pg es free Online Home Energy checkup. In just under 5 minutes you can see how you use energy and get quick and easy tips on how to keep your monthly bill down and your Energy Savings up. Dont let your neighbor enjoy all the savings. Take the Free Home Energy checkup. Honey, we need a new refrigerator. Visit pge. Com checkup and get started today. Shares in china have their best day in a month after poor data fuels hopes of frustrations from beijing. Chinese exports tumble more than 8 in july. Violence flares up in turkey with shots fired outside of the u. S. Consulate in istanbul. This hours after a bomb blast injures seven people. Is Warren Buffett about to make his biggest deal in a takeover that could top 30 billion. Greece says a deal with its creditors could be struck as soon as tomorrow as Alexis Tsipras overcomes with the imf over a crucial debt repayment. And you are watching Worldwide Exchange on this monday morning. Lets take a look at european equity. Although it was a down week for stocks last week, that having to do with mixed Economic Data coupled with the commodities. The xetra dax down. And 109 against the u. S. Dollar. U. S. Stocks a good day of stocks use the eurozone right now trading down by around seven odd points. In bonds we did see a move in the tenyear u. S. Note of friday last week. It keeps in play the possibility of a hike in september. Certainly the possibility of a hike by the end of this year, also 1. 18 . And german tenyear, 1. 86. And the euro relatively quiet for the euro dollar. Sterling up last week, reaching 1. 5467 at the moment. Lets move on. Greece is hoping to end negotiations with International Creditors as a third bailout by tuesday. This according to reuters citing a greek official. The greek finance minister met with representatives from the imf and european commissions yesterday. Athens is going to reach a deal before august 20th. This is fantastic development, were going to try and wrap up a deal a few days before the deadline is due. Do you think thats likely to happen . Thats a stretch. To be honest. Whether it does or doesnt happen in the big keep of things, that can always be another to get it done. But, yeah, theyre trying to. But i think its still the track record doesnt set up all that good. When we look at the euro dollar and what its been doing over the last couple of months, is greece as a factor moving completely past it . Its now responding to other factors . Its mostly about the United States. But it could still come back. A liberal last week, the index for greece came out with sort of a record low and thats a reminder that theyll refocus not so much on the crisis in politics and the bailout, but we will get back to the greek economy. Theres no point to any of this if we dont get some Economic Growth in greece quite soon down the line because every month thats lost for the economy is another month where theres very little in the way of receipts coming into the governments coffers. And the problem gets worse. Well get back to that after the holiday. When do you expect that turn to. What, though . That pmi number we got last week was horrible . Im not sure theres anything that makes that Economic Activity pick up in greece. Thats the problem. Youre not going to get those kind of imploding numbers to go along. I dont think this deal works as a solution to revising growth in greece or in europe. Its just a way of getting new money to help pay back old money. Whats the yearend target for the euro against the u. S. Dollar . Something between here and that, all of that distance plus an intraday move. I dont think well get below parity until weve had it and i think it would be below parity sometime after christmas and the beginning of next year. Something like that. But thats more going to be about the United States. If things go really badly. Lets move on and talk about the United States. We had the month on payroll data in july, 250,000 jobs being added. Very short of 223,000 expected. The u. S. Dollar finished the day, as the market saw enough strength in the data to support a case for a rate hike in september. A quick look at what the u. S. Dollar is doing this morning ahead to dissect the data even farther, you can see that flat. Kit, you said its a possibility it will hit parity by the end of the year. Do you think thats based on the fact that well get rate hikes and in september . I think well get them in september. The indications that were getting from the fed are that, if things dont slow down, get worse, if theres no major geopolitical shocks, they think they should get rates off zero. When they get them off of zero, that will be devastating for the companies to avoid upset. But the numbers were seeing right now say you dont need zero rates. Im surprised you feel that could lead to us parity. Its a big move to where we are today just above 1. 10, thats been telegraphed. What do you think about a quarter point increase . Partly because weve spent so long waiting for this event, if you like. But i dont think theyre processing it properly. It could still have a moving rate towards 1 over the course of 2016. I dont know that you can have one rate rise, and then that saul fine and i think the markets will inevitably force the price more initially. So the peak for the dollar is the low for the year. 00 do think happens in the first half of next year on the other side of parity. Something like that. But when we factor in u. S. Interests rate being more than we have at the moment, everyone is very split at the moment. 60 of the people think theyre going this year. Theres probably 20 who think there never will. 2015 has been a torrid year, specifically for the chilean and colombi colombi colombian pesos. How does that work . With the u. S. Rates and the chinese, boom, both of those pulling in the other direction at this point in time. Theyre trying to find the bottom for any commodity you can mention pretty much. And the export is troubling. Its not just the south america currency the malaysian has suffered as 30 of its income comes from oil. Yeah, held up london, some of the ones that held up longer than the easier ones to see. Brazil, they held up longer but then they started to crack. In malaysias case, to the Slower Growth and the china story becomes dominant, the theme of weaker Economic Activity across asia. So far, the rmb much more heavily linked to the currency. More disappointing data. Do you think today is a down side for the chinese . I think the chinese see no point in letting their currency weaken, youd have to do what the japanese have done, 20 . Everybody else would be valued by more so that committed to stability, but deepening to reduce the price deflation, falling exports, gradually slowing growth is the recipe. Lets see the numbers on wednesday. As long as rebalance in the consumer is doing okay, were on the right track. Kit, were going around the world with you. I want to get your thoughts to sum it up here, on the japanese yen, as a safe haven play in the currency world. Economic data over the past ten days, surprising but does that confirm a more bullish view on the economy . The economy is not going to get any one year thats a 2 inflation target that i can see. But i think its as far as the currencys concerned, what you have to bear in mind in japan the scale of adjustment in realtime is astonishing. This was a really expensive currency, its now a really cheap currency. Its not going to help anything to for the profits. Kit, thank you for being on the show. New new Zealand Foreign minister john king told cnn hes confident the talks on the tpp is successful. He did feel there are hurdles. The answer is, this is a window of opportunities to close tpp. And i think if you dont get that done soon, one of the problems youre going to get youre going to run into the u. S. President ial campaign. And its difficult for the canadians because Steven Harpers election is not totally complete in canada. So its not straightforward. I myself remain very firm on the view that a deal will be completed. So much time and energy has been invested and so much to sort of gain if we can successfully conclude it, i think it will all happen. I know you were concerned about the canadian elections specifically because it is close in time to where we are right now. Steven harper has said hes going to start the election process so that wont in fact get in the way. Are we looking at a meeting at the end of the august . I would have thought so. I mean in the end, theres nothing firm at this point. But i think theres a commitment to reengage. And theres been a lot of discussion happening, everything from the legal to the minister and negotiating legal. President obama has a period of time, we run into the summer break and we can expect after that summer break. And, you know, of course, its possible you could negotiate into 2016 and abeyond that. Once you get into the middle of the u. S. President ial Election Campaign with trade which is by tradition always anyway. I think for the president , he has invested his time as president of the United States focused on this issue. Now, clearly there are many issues but this is an important legacy issue for him. Ive been pretty close to him during that whole time. Weve had numerous discussions on this issue, im not getting anything from him that he wants to not see this conclusion. And the same goal as you mentioned earlier. New zealand is taking a little blame as of late. I know youre fighting back and youre saying you cant change the rules at the very end of the game. What would you say to people who say you know what, new zealand is causing big problems for the tpp . Id say were ambitious, not only for a country but as a quality tpp. I mean, anyone can do a deal but if its low quality and it doesnt take you very far, by definition, youre not actually opening up each others borders and each others consumers. And the fundamental principals underpinning tpp were always a highquality, comprehensive deal. Thats what we agreed on. Thats what we pitched to the new entrants that wants to come in in the form of mexico. It doesnt mean that were going to get utopia and were going to get everything that we want and the countries that care more about getting what they want. But i think if we just have that ambition, but a practical fit for our economies will be heavily diluted. Lets talk politics, donald trump goes on the defensive. Appearing on sunday news talk shows the republican president ial candidate insists the comments on megyn kelly has been misinterpreted. Any change this morning do you want to apologize . No, need to apologize, she asked i thought very unfair questions and so did everybody in social media. What i said was totally appropriate. There was nothing wrong, only a deviant, and i literally mean that, only a deviant would think anything more than that. Nbcs brian mooar joins us live with the fallout. Hi, seema. Donald trump seems to be defying political gravity here. Everything he does seems to be within the rules of the political playbook and yet he seems to be winning at every turn. The overnight poll conducted by nbc news, after the debates in cleveland showed that his numbers seem to be holding steady. Hes in the 20 range, while his closest rivals are in the 13 and below. So, really, everything hes done has led to controversy after controversy after controversy. But tistill people are seeing t name donald trump and it seems that a lot of people find it refreshing that somebody is speaking their mind, even if it is politically incorrect and should would argue grossly inappropriate. Brian, why do you think that is, despite the controversial comments as you point out, hes still leading in the polls is that that he speaks hi mind and people find that refreshing . Or is there somethings . Its really anybodys guess. But i think one thing thats an educated guess, hes a reality tv star. People have been hearing him roll hard as they say, for many decades. Theyre used to him saying outrageous things. But they also have in the back of their mind, this is a billionaire, somebody who is very successful. Its hardbaked into his personality that goes the inappropriate comment that gets everyones intention and headlines. And here we are talking about him right now. Brian, thank you for joining us. We want to hear it from Worldwide Exchange at home. Has donald trump gone too far this time . If you want to join the conversation get in touch by email, Worldwide Exchange cnbc. Seema, i have to say whether or not you agree with the content of what hes saying, something you just pointed out saying it to brian, its so refreshing to hear someone who speaks his mind. With the uk election a while ago, when you ask a politician a direct question, all they hear is the topic and they just regurgita regurgitate, its refreshing. Donald trump just says what he thinks an hes not worried about being overly politically correct. Its many of the things he says are very controversial. The question is has he gone too far. Of course, he did. Thats why he had to do some damage control over the weekend. Speaking to a variety of hosts about what he really meant when he made those comments about fox news anchor megyn kelly. I think that is indeed what he meant, it seems that was the case or he wouldnt have gone on the defensive too much. I agree, the content of that is not really acceptable. The other interesting thing off the back of this, all of the candidates, barring now what it might mean for republicans in general amongst the female community. Thats clearly a fear for the party as a whole. You got to remember, i can imagine how tough it could be figuring out being a republican candidate, figuring out how to react to trump. You basically can ignore the comments or use this as an opportunity to distance yourself from trump and openly reject what hes saying. But then you risk, of course, making the whole campaign about trump and not what you an individual are standing for. Brian is absolutely right, if they ignore and let trump dig his own grave, at the moment, thats not the result happening. Here we are, all were talking about is donald trump. No one else is get anything air time. Theres an element to that mantra of no news is bad news. He could break that and go too far. If he pushes that again and it might go too far. But at the moment, hes managing to just stay ahead of everyone else. Huge publicity. You got to watch jeb bush in this, hes number two, the question is how did he use the statements from trump to power his message forward, that would be the big question. Get in touch with us in such an interesting time as we approach the president ial race. What are your comments on donald trump, get in touch with us on facebook and twitter and email us at worldwide cnbc. Com. Could economic changes be on the way for the south American Country . Wee break it down right after this break. Before earning enough cash back from bank of america to buy a new gym bag. Before earning 1 cash back everywhere, every time and 2 back at the grocery store. Even before he got 3 back on gas. Kenny used his bankamericard cash rewards credit card to join the wednesday night league. Because he loves to play hoops. Not jump through them. Thats the excitement of rewarding connections. Apply online or at a bank of america near you. Mine hurt more. Mine stopped hurting faster neosporin plus pain relief starts relieving pain faster and kills more types of infectious bacteria neosporin plus pain relief kills the germs. Fights the pain. Use with bandaiand. Welcome back. Shares in china have seen their biggest oneday gain in a month, from hopes that beijing will embark on policy easing. This after data that prices have fallen to a sixyear low and exports slumping 8 in july. Shanghai composite at 4. 9 . And shenzhen up 4. 5 . Off the back of this, although that disappointing data did chinese stocks and hopes that will it see further stimulus it has hurt European Mining stocks, particularly that export data in the sector down 2. 46 . Similar declines across the board, some down 20 since the 1st of may. The sector, of course, has been suffering as have Commodity Prices more broadly. We should point out even exxonmobil, chevron, Royal Dutch Shell all trading, a comphmodit rout. Trading at down around 0. 3 , oil by the way, has tumbled 25 from late june to about 35 a barrel. Now trading well below that as you can see right there. Its around 55 in the past year. Now, its not just about oil, take a look at gold. It has dropped below 1100 per ounce. Down to about 8 this year. And 43 the low, since the 2011 high. A disappointing weekend from barons, theyre saying this is the time to get bullish. Yeah, which is an interesting perspective. I wouldnt want to be the one to catch the falling knife. And it a rather consistently falling knife for them. But we have now had six weeks in a row that wti has declined. Having seen that bounceback from march to june and the stability that we started to see, it is a surprise that weve had such a consistent significant selloff since then. And part of is the u. S. Dollar story. Part of it is global macro fears. I think apart from aside from the other commodities, its really back to the same supply and demand arguments that we were visiting last year. We take a look at stocks, energy the worst performing sector in the u. S. Last week losing about 4 . The emerging market currency, trading, at high lows in not just south america, but asia as well. The impact is profound. Absolutely. Well below 45. Another story were watching, Hillary Clinton is expected to unveil a plan today to make u. S. Colleges more affordable and reduce student debt. The proposal is estimated to cost 350 billion over ten years. U. S. States would still receive federal money for higher education. But would have to increase their own spending. Students wouldnt have to take out loans to attend public universities. Clinton would pay for her plan by raising taxes on the wealthy. Now roughly 43 million americans owe student debt. Early result of the argentinas outgoing. Outgoing mayor of buenos aires came in second place. The election takes place on october 25th. And nancy is joining us to discuss what we can expect. Kirchner is expected to step down, the kirchner dynasty. Eight years under her and before her, her husband. She continues to dominate. Its a referendum of her term in office. And dennis scioli is her chosen successor. Hes got 25 of the vote and hes taken lead of 37 . But we should keep in mind that people are saying what he really needs above 40 for the election. If he doesnt get above 45 there, he will have a runoff. In that october election, everyone has to vote so well have a better idea what the percentages will look like. You mentioned that the second place Opposition Leader came in with about 25 . However he was also facing two other contenders in the party, presuming he drops out and theres a Third Party Candidate we add all of that together we could be looking at a close september. Its a pleasure to have you on the show, ahead of the election, how would you trade argentina . It becomes very interesting. It is going to be a very close call. So its certainly a market to take seriously. But already in the last year or so, this has been an important theme. So bull markets and equities have rallied. Yeah, if you want to take some risks. Martin, lets talk more about emerging markets. Theres been a sharp period of underperformance in markets, whats been driving it risk off incentive . Certainly, risk off. In china, the stock market protection, creating unrest about the chinese growth. I think theres more about the system in china and thats a big thing for asian markets. And we have the rate hike coming closer september or december, but its coming in the coming months. And also mention of the markets that have been like that for quite a while and a few countries getting into deeper trouble like china and malaysia. A lot happening at the same time. Martin, weve got about 30 seconds left. Just very quickly, which markets do you think are the worst . Turkey, brazil, china. Martin, thank you very much. Global emerging markets strategist at ing investment management. Coming up Warren Buffett at Berkshire Hathaway looking at reportedly the biggest deal ever. Well have that coming up after this break. Welcome, everyone, to the second hour of Worldwide Exchange. Im seema mody. And im wilfred frost. Here are the headlines. China has their best day, but taking a hit as chinese exports tumble in july. And Warren Buffett and Berkshire Hathaway in a takeover that could cost 30