Turkey. In germany, chancellor Angela Merkel suffered a political setback. The antiimmigration alternative for Germany Party made strong gains in preset elections that were dominated by the refugee crisis. Support for her Democratic Union fell across the board. Donald trump is trying to counter a late challenge from john kasich and ohio. Polls show john kasich a be pulling ahead, and days before the primary there. His campaign has been overshadowed by growing violence at his events. Activist groups and supporters of democrat bernie sanders. Global news 24 hours a day, powered by 2400 journalists in more than 150 news bureaus and now to thed, markets with matt. Matt take a look at futures. We are down across the board. Not huge drops, but a loss of 15 points on dow jones. If you take a look at the indexes, or lets take out the s p and look at yourtodate, you can see we are at a level to almost where we back to were at the beginning of the year . Being unchanged for the year, which is considerable, if you remember how far down we were in january, with the worst start to a year since 1928. It was pretty rough. Take a look at a cross asset check of oil, gold, and the 10year. These are things that have been moving markets, especially oil. Oil is off a little bit today. We have seen gold coming down a little as well. Oil is down 2 . 37. 76. Ow, back to gainsg for the year, gold up 20 up 22 now, from lows in december. The 10year yield, coming up a little bit. Down just a bit as buyers get into it today. S. Want to take a look at dot it is a new function that you can use on the bloomberg to check out the feds dot plot. This is the forecast out for rates. If you look at the feds plotsst, the median dot are higher than the Market Forecast for futures. Dots is a new function that i am sure will get a lot of use. I want to take a look at oil yeartodate. There was a big drop, now we are back up to 2 for the year. , atook at opec 8 00 we will see the Opec Monthly Oil report. For february, 33 Million Barrels a day. We will see if that number grows or falls. There are a number of interesting details that we will pull out of the port out of the report. Jon thank you very much. A big weekend for china, a lot of data. Pressure is already mounting a couple of months into the year to reach the gdp target of at least 6. 5 . Over the weekend, the Central Bank Governor said there is no measure tomajor boost growth. Recent data points to a slowing economy, but chinas industrial output and retail sales, slowing in january and february. Enda curran joins us from hong kong. How do these figures, these data of the week, playing into all of that . Enda like you say, we are getting a decent read on how chinas economy has started 2016. Notwithstanding seasonal , it is an disappointing start by all accounts. We are seeing sluggishness in an area where we were hoping for traction. Hading into this year, we Interest Rate cuts, heavy fiscal stimulus, and a sweep of measures by the Central Banks trying to get lending and credit loans through the economy. Retail sales are heading. Ackwards some Silver Lining on residentials real estate sales, they are picking up there. Vonnie we never heard from governor zhou much before. How much influence does he have on you collect Bank Governors and Business Leaders in china . Enda he is a very powerful man. We are seeing more of him, and that is a deliberate strategy on their behalf, both to improve communications and sell a message. China is selling a message of stability. Over the weekend, he was trying to maybe manage expectations a little bit. But when you consider the growth target that they have set notselves, few people do really think that the central bank will not have to cut rates more. One problem that he faces among convincing his fellow officials in china, is that Interest Rates are not really having the impact they once had in china. The transmission mechanism is not flowing through the economy the way it once did your it even though the central bank can cut Interest Rates further, it is not necessarily having the impact because of the high debt levels and the excess capacity in some of the key indexes. Is on the government to do more, and they will have to take the surgical scalpel to areas in the industry like coal mines, trying to shut those down for heavy debt. He is very powerful and influential, but his problem is that Interest Rate cuts are not what they once were in chinas economy. Vonnie thank you so much, enda curran, coming to us from the hong kong bureau. Boston is vince reinhardt. I will start with you. What do you make of the latest comments from the governor, and successful . You should always beware when Central Bank Governors become cala genex. That means they are either. Orried about a problem the problem is pretty evident. Chinese officials coming out of the Party Conference recognize that growth is going to be slower. They are trying to execute a difficult transformation, which they put under the general rubric of supplyside reforms. From the Central Banks standpoint, that means you are being dealt a hard hand to play because there are forces at work like the need to recapitalize, get assets off bank Balance Sheets. That will make the monetary transition mechanism have less traction. Over as i read the news the weekend, it seemed mixed. Looking this morning, the stock market is really up, one point 75 . 1. 75 . That is because the Retail Investors in china take their cue far more from sentiment than they do from the fundamentals. Sentiment is improving. Chinese officials are improving their game, communicating more effectively with the market, and andng to restore confidence credibility, which are enormously important. But it does not change the fact that fundamentals are week. At some point the fundamentals are very serious and structural in nature. David i wonder if Consumer Sentiment is not becoming one of the fundamentals, as you shift from a production economy to a consumer economy. At some point Consumer Sentiment counts. The consumer numbers are still healthy. Retail sales are still growing at 10. 1 , down slightly from 11 , but this is not a bad number. Is not going to be reacting as much as we might expect in a western economy to interestrate cuts. The Interest Rate cuts will be more geared toward the industrial sector, and there we have a problem. Cutting Interest Rate will not induce people to borrow when you already have overcapacity. Jon the Chinese Securities Regulatory Commission is already saying that equities were really given a boost. To cross over to you, looking at the governor of the chinese central bank, the peoples bank of china, the conversation where having this morning is, their ability to stimulate the economy are they having the same impact, the same effect . Have lots of also tools. They cut Interest Rates, reserve requirements, and there are lots of channels of Monetary Policy influence. The governor appears willing to use whatever letter necessary. I think the more whatever lever necessary. The more fundamental connection is between supporting growth and exacerbating concerns about Financial Stability. The code word there is when the governor was talking about the prudent, slight loosening bias, he is saying there is a need to support aggregate demand, but there are intermediate and, challenges, problems in markets. Both in setting Monetary Policy. Matt when you talk about exacerbating financial instability, i wonder what you think about the currency. I have a screen showing the most active option contracts, and you. Nd this with moso you see green dots, blue dots representing calls. The majority of the active options contracts we are seeing indicate that traders expect the currency to depreciate even further. How should the chinese go about letting this currency depreciate . Should they just float it at some point, or do you think they have to continue keeping a very controlled and stable depreciation . There are two issues at play. Part of it is not about the peoples bank, it is about the three other nodes of International Financial system, the Federal Reserve and the ecb and the boj. Two of those centers are going in toward a race to the bottom in terms of competitive depreciation, while the Federal Reserve is going to be inhtening Monetary Policy 2016. The chinese have to worry about competitive depreciation if the yen and the euro are depreciating relative to the dollar. ,he second aspect about that is you know, a sense of maintaining financial order and stability. You cannot go to a Flexible Exchange rate until you have internal market spirit china does not have internal money markets and Financial Markets to abandon the main mechanism of aggregate demand. One of the stories of the last week or so has been u. N. Strength. If you look at the basket currency, the u. N. Stealth decline is actually weaker against the basket or it which one are you tracking at the moment . Vincent generally, you should inlow what the pboc says terms of understanding their stage rate policy, so i pay more attention to the basket. Dollar tells you what is happening to the dollar visavis the yen and the euro. David come back to the transmission mechanism. How you if you are zhou can give money to the companies that you want to give money to and not support the ones that are not productive. You can prolong the restructuring needs and make it more difficult for the economy in the long run. Simon that is a big concern. You have seen comments from zhou that they want to transform some of the debt that is being held by interbank equity. That is kicking the can down the road. It does not address the problem that ultimately these are companies that are not valued, not viable as industries. That is going to take very difficult decisions to close them down. Everybody says this is a small amount of employment in china, but it is still millions of people we are talking about. Another very important point to be aware of is the transmission can it assumes the transmission mechanisms have changed. Was the anticorruption policy has come in. That incentive to local governments to do has the Central Government saying that it is very strong in the expansionary phase. Now we have the incentives being slightly weaker when there might not be so much in it for the local governments. If you are a local government a large, closing down industry i imagine the local governments will drag their feet in that regard. David thank you to Vincent Reinhart and simon male. Starwood is getting another offer at 76 a share. Remember, starwood and marriott had already agreed to an offer at about 67 dollars a share. 63. 74 ark it out, share. Marriott has given starwood a waiver now, and the new group intervalo be ilg, leisure group. By libertyheld media. David i do not think of him as being in the real estate business. Matt it is a very interesting to deal it a very interesting deal to look at. David thanks, matt. Protests are up in brazil as president Dilma Rousseffs future hangs in the balance. More on what is at stake ahead. David millions of brazilians took to the streets over the weekend to protest corruption and call for the pitchman of dilma rousseff. Julia, what is at stake and call for the impeachment of dilma rousseff. Julia, what is at stake here . Julia we were waiting for these protesters to gauge Popular Support for her ouster, and the protests ended up being much ward much larger than the last protests, and the biggest ones we had from a year ago. This could be a game changer, to stop and say what do we do. David will it affect the vote on impeachment . Because that is really the issue, whether she is impeached. Julia that is a big theme in brazil, and congress is expected to resume impeachment proceedings this week, after a few months of waiting for the Supreme Court to decide on the guidelines they are supposed to follow, which we expect them to do on wednesday. The president of the house has said he will restart the process. It could be as early as thursday. David car the markets reacting . Last week the markets were bouncing up how are the markets reacting . Last week the markets were bouncing up. Julia the markets have been doing very well. Currencyis the best among the largest trading once. The stock market is in a bull market and everything is up. The government sold bonds last week to take advantage of this rally. Now we are waiting for the next developments, to see how sustainable this rally is. David one name i have not heard is mr. Nevitts, the senator who narrowly lost to dilma rousseff. Where is he . Julia he attended the protests yesterday veryte briefly. Overall the protesters were not happy to have politicians, whether it be opposition or nonopposition in the protests, so he made a brief attendance. Brazilians are sort of fed up with any sort of corruption in any sort of politician. They just want something new. ,o he had been on the sidelines but not really emerging as a Strong Political figure at this point. Us. D thank you for joining up next, irans oil minister sending a bold message after trying to bolster the countrys crude output. The impact on the global oil market, up next on bloomberg. Jon crude is falling on news that iran plans to boost crude output. Countrys oil minister said, leave us alone until then. Joining us now, Energy Analyst andy cosgrove. Great to have you with us this morning. Thellion barrels a day is high. Is that news to you, or did you expect it . Andy i do not think this is much of a surprise. It should not be much of a surprise to anyone who has been following what iran has been saying, that they want to get from 3. 9 million to 4 million couple of weeks ago. They said they wanted to get to 3. 9 million by august. The market has run up quite a bit, and i think youre seeing the market looking for a fundamental reason when we are technically overbooked to sell off a little bit. Jon the market is also looking for opec producers and nonopec producers to freeze all output. You wonder what the impact of that really is. The russians and saudis will only agree on it when they already have output near the record does the freeze make much of a difference . Think it is a moot point, and the proof is in the pudding. Russia is more or less near the top of their range. It will interesting was saudi arabia does in lieu of the summer peak demand season, when there will be an additional call performance of 4 Million Barrels per day. The base case for the consensus right now is expecting iran to max out at 3. 4 million or 3. 5 million by the end of the year. Orthey do get to 3. 9 million 4 Million Barrels per day, that would be a bear signal. Jon reaching an equilibrium between demand and supply, given what you see from the likes of iran, what will that take with u. S. Output with more than 9 Million Barrels a day to just under 9 million . Y you saw the iea pull back their expectations, pulling it the supplyut and demand work we have done, looking at the iea, were still looking at a surplus persisting through this year. It could be pulled forward a bit, but you still do have close to one billion barrels of inventory that you have to work off, and if you look at prior cycles, it has been very volatile toward the bottom. The 1998 cycle or the 20082009 cycle does work as a precedent as you look back at how we can rally up the bottom here. Andy cosgrove, Bloomberg Intelligence analyst, thank you. Barrel. Ops below 40 a coming up on this program, a big week for Central Banks in the bigger bank of england. That is next. Hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. When it comes to the fithings you love,. You want more. Love romance . Get lost in every embrace. Into sports . Follow every pitch, every play and every win. Change the way you experience tv with x1 from xfinity. John this is live from new york city and thats a beautiful picture of london. And equity rally for the bowls with four weeks of gains. Before we deal with the economic essentials, lets get to vonnie quinn. Vonnie starting with brazil, millions joined in the biggest protests in the country demanding the removal of the president who has been linked to a corruption investigation. Plus, they are mired in the worst recession in more than a century. We are waiting on new Economic Activity data which should show that. Militants linked to al qaeda said they carried out an attack on a resort town on the ivory coast. 22 people wrote killed and its the first attack on the ivory coast wer