London. Manus a little bit of breaking news. We have assets under management at the end of october, 393 billion swiss francs. Number, the fight for new funds. Its not just about new funds, its about the profitability of those funds and putting them to work. Thats the headline number coming through from julius berg. 393 billion swiss francs. Thats the top line, and we have a little bit more that we will bring to you. Angela merkel, who would have thought the stalwart of europe cannot get a coalition together . Eurodollar, euroyen, swissie. Anna does that lead to more talks . Perhaps. A minority government, new elections . The euro is the key message. Manus the question is this. Do you look into the eye of the storm and say she will pull it back . There will be a rapprochement . What we have is a reflection. These are the risk reversals. He were trading higher, quite a bullish sentiment on friday. The most bullish since 2009. The risk reversal, trading back at levels we havent seasons oc
Raising the exit payment. Hitting 8,000. Matt . Matt lets take a look first off at futures where they are trading after the Coalition Talks here in berlin collapsed late last night, early this morning, depending on how you want to look at it. We see futures down across the board. We have asian markets down as well, but there are other reasons for that. Not the collapse of the berlin government talks. I think they had export numbers that were disappointing. See futures are down almost three quarters of 1 . If you take a look at other closely tied to merkels forming of a government, you see the euro coming down. This is a threeday chart. You can see how it traded after two days and then the collapse in trading this morning. The question is, is it a by the dip moment . Or do you see the trend may takeg down . This possibly weeks or months to clarify the situation on who runs germany. Guy . Bloombergs go to first world news with at ludlow. Mugabe shocked his country with a televised addres
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The committee will come to order. Todays hearing is on president obamas budget for fiscal year 2017. I particularly want to thank secretary lew for providing for appearing before us this morning and providing his time for us. While there are some hints about some of the details in advance, Congress Officially received the president s Budget Proposal yesterday. And as has been the case particularly under this administration, what we received was not a practical vision for the future. Weve going to have to have order here. As has too often been the case, what we received was a not a practical vision for the future but designed to sewuency constituencies. He looks to raise taxes on hard working americans, including some special new regressive taxes that are being packaged as, quote, fees unquote. With all the revenue going to fuel expanded government and spending that is being sold to the public as, quote, investment, unquote. No matter what terms people want to use, this budget once agai