guy johnson in london. let s get the first word news. china is on a mission to create an aircraft carrier-sized investment bank. they are opening up $45 trillion financial industry would also wants to beef up its own players to go toe to tell giants. at the moment china s brokers don t have much of an international presence. adding together the 131 brokers have about as many assets as goldman sachs by itself. germany expects the nord stream 2 two gas pipeline to be delayed but it should be completed in the second half of next year. costs are rising after sanctions u.s. sanctions on the project. of japan and south korea are holding their first formal meeting in 15 months amid a long-standing historical dispute that hit trade in the region. it also had a trilateral meeting between the three. they ve reached international cooperation on dealing with north korea. 2019 has been a good year for the superrich. almostrichest man added $17 billion to his wealth this year. over $11
saying the u.s. is winning the trade war with china, but the u.s. deficit is set to balloon. toeing warns companies to the line if they want access to the mainland economy. get you started with a quick check of how markets closed the window session. stocks were higher. they pared back some earlier gains. the s&p 500 ended .8% higher with every sector on the s&p 500 and the green. retailers were also hired. today, we saw the bloomberg retail index at a three-week high as we saw some positive s and target, lowe not to mention we saw that rally after we saw home depot s stronger second half. that theyes signaling were ready to ease but not really hinting that this july rate cut was the start of an easing cycle, so two-year treasury yields rallied. treasury yields unchanged at the moment, so let s see where we are starting out the asian session. sophie: we are setting up for potentially positive gains with more earnings on tap for the region as well. we have a new zealand s repo
that we saw yesterday, increasing concerns about whether or not the fed is going to raise rates in june. does the fed threat then rally? i don t think. so i m not going to speculate on when they re going to raise rates. the bottom line is you know they re going to raise rates. it could be june or september, next year. what the real important question is what are you doing in the fixed income market if the fed s raise rates you? know they re going to go up. it s just a matter of time. and i get very, very concerned about the $3.5 trillion that is sitting in fixed income mutual funds as i look forward into a higher rate environment. they could be potentially at risk. talk to me about stocks. do you do anything differently with your stock portfolio? no, not at all. if you look at the market, i think the market is in great shape here. reminds me of 1982 to 2000 market where it was up each and every year. except for 1990 when down .5%. one thing that you have to look at this
there is always something to worry about. at the moment, there are a lot of uncertainties. scarlet: the world s most influential financial actors come to a global summit. i think it is tragic that we have taken rates down thus far. i have not seen bubble prices in most assets. the pressure is great on everybody. ultimately, you ve got to produce. scarlet: it s all straight ahead on bloomberg best. hello and welcome. i m scarlet fu. this is bloomberg best, your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let s start with the day by day look at the top headlines. the week began with reports from germany that created considerable worry for investors in one of the world s largest investment banks. deutsche bank shares dropping to a record low in germany today amid further concerns about its financial stability, whether the government will save the bank if needed. how long can the governmen
influential financial actors bring market insight to a global summit. i think it is tragic that we have taken rates down this far. i have not seen bubble prices in most assets. the pressure is great on everybody. ultimately, you ve got to produce. scarlet: it s all straight ahead on bloomberg best. hello and welcome. i m scarlet fu. this is bloomberg best, your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let s start with a day by day look at the top headlines. the week began with reports from germany that created considerable worry for investors in one of the world s largest investment banks. deutsche bank shares dropping to a record low in germany today amid further concerns about its financial stability, whether the government will save the bank if needed. how long can the government distance itself from deutsche bank? well, so, it s a very complicated position, because we have an el