good morning, everyone. this is bloomberg surveillance. this hour, we are joined by the global head of strategy at martin s family morgan stanley. we also talked to the current coo and soon-to-be ceo of the bank of morreale. in the meantime, we have a little bit of breaking news. pmi out of the eurozone. this is exactly what we are getting. we are looking for a little bit of euro reaction. pmi falling to 55.4. and little bit better than expected. not as strong as the month before, but they have been revised upward at 54. we were expecting 53.7 figure. these other markets over all. we are seeing a little bit of a risk reversal. this after the u.n. is set to meet on the north korea threat. what it means for the markets is yesterday there was clear demand, but today not really phasing the yen. gold is down a touch or pretty much flat. stocks seeing small gains, gaining 0.1%. we will have plenty more on the markets but let s get to the first word news. bank of england policym