so could we say that europe is actually polarizing itself. the term pre-crime comes from this movie minority report in which a prediction is being made about something an individual has not yet done but is going to do and a preemptive arrest is made of someone before they perform that act if you would have asked me 37 years ago if we would have gunshot detection or video cameras in neighborhoods or be able to predict what crimes occur i would have said you're crazy pre-crime coming soon on al-jazeera every weekly nice cycle brings a series of breaking stories join the listening post as we tend the cameras on the media and focus on how they were caught on the stories that matter the most on al-jazeera. he lived in brazil's largest favela. one day the police came for. like thousands of others he disappeared. witness follows a family's epic struggle for justice which became a national cause and sent shock waves through the upper echelons of the political establishment in the shadow of the hill on al-jazeera. i'm come out on summary with another

i think europe and. you know something that still does get there and get this together come on we've been killing each other for what centuries and now we have a you know we have common programs we have a common politics 25 year old friedrich continues his european journey in an easterly direction. to trist from 6 to 6. is on route to slovenia one of the eves newest member states it was once part of the communist you can slavia. as a train heads for the italian slovenian border he makes friends with a reason one ferrari who comes from the region. of my family he tells me stories about when. and where there was a. they were doing was a very very easy street yes. day people in europe can again travel freely. if you've been to slovenia yet but. after 3 hours the train reaches the mediterranean city and soon arrives at the slovenian border. there's no border guard in sight just a train conductor. for over 11 years this is being an open border. it's really interesting when people talk about the past it's incr

i think europe now. you know something that still just to get there and get this together come on we've been killing each other for what centuries and now we have a you know we have common progress we have a common politics. 25 year old friedrich continues his european journey in an easterly direction. to trist platform 6. is on route to slovenia one of the e.u.'s newest member states it was once part of the communist yugoslavia. as the train heads for the italian slovenian border he makes friends with a reason man ferrari who comes from the region. of course my family tells me stories about when there. were no other there was. a more dangerous and very very easy street yes. today people in europe can again travel freely. if you've been to slovenia. but. after 3 hours the train reaches the mediterranean city and soon arrives at the slip fenian border. there's no border guard in sight just a train conductor. for over 11 years this is been an open border. it's really interesting when people talk about the

right wing movements have held protests against immigration and a slam in several parts of europe and violent attacks have been carried out by far right activists including near nazis and white supremacists germany's domestic intelligence agency the b f v says there are more than 24000 far right extremists in the country and believes almost half are potentially violent in france 10 people suspected of planning attacks on mosques muslim leaders and women wearing veils were arrested last year and in the u.k. the european union's law enforcement agency europe poll says 5 right wing terror plots were recorded in 2017. let's bring in our guests now to talk more about this in pescado italy via skype we have italian journalist stephano veggie in lisbon we have michelle believe it he is the chair at the center for research on prejudice at the university of warsaw and in new york also via skype we have. did george she she is the manager of the far right program at the social enterprise group moonshot countering violent extremism good to have you all with us so far let me start with you how sig

and europe. i think this is clearly a stratagem on the iranian leadership part of both to get leverage over the europeans in the hope that they can find some way to soften the impact of u.s. sanctions on its economy but also as you said to draw a line and to create distance between the u.s. and its european allies in the hope that it would give it more leverage in any type of future international agreement it's very difficult to see how the europeans could do much more to address aronian economic concerns. standing up a separate international financial mechanism that would not have exposure to the u.s. economy and to u.s. sanctions is the undertaking of many months if not years and the cost of so doing would be quite substantial so it's difficult to see how the europeans can do much more than what they've already done in the form of this bartering mechanism known as instax and the drug administration says it wants new talks with iran it says maximum pressure policy will continue we know that iran

within europe sporters that might yes but beyond europe's borders now because the european union it's complicated i've been in berlin since 2005 i followed berlin and there for a bit of brussels i saw now how it all works it is complicated in the united states of america nobody understands how it works it's just somebody gets elected and she was democratically elected there was a vote held she got the majority and she is now the president i think people are going to accept that whether europeans accept that because of the whole system we went through where she was agreed upon in this backroom deal as you were explaining it was all supposed to be transparent this time but they couldn't that transparency fell short it didn't give them a solution they needed a solution or so a friend of mine is known as being very pro-american washington. she devil a transatlantic sess and she always has been you know she lived in the united states for 4 years and because she lived there raising our kids there she knows society so she she doesn't view it just in the washington bubble but she she really v

i think europe and. you know something that can still get there and keep us together along with being here in each other what centuries and now we have a you know we have common programs we have a common politics 25 year old friedrich continues his european journey in an easterly direction. to trist from 6 just 6. is on route to slovenia one of the e.u.'s newest member states it was once part of the communist yugoslavia. as the train heads for the italian slovenian border he makes friends with a reason man ferrari who comes from the region. of my family tells me stories about when. there was a. there were differences may vary from st e s. . day people in europe can again travel freely. if you've been to slovenia yet but. after 3 hours the train reaches the mediterranean city and soon arrives at the slovenian border. there's no border guard in sight just a train conductor. for over 11 years this is been an open border. it's really interesting when people talk about the past it's incredible freedom to just

so could we say that europe is actually polarizing itself. that the pages of this exercise book code unspeakable memory is compiled testimonies of victims of congolese mustn't. as this intimate evidence finds its way to international courts the central african republic is plunged into further tumult and intricate tanev of people and a nation crippled by recent history. afrikaans part 2 of a 2 part series on al-jazeera. i really felt liberated as a journalist was all about getting to the truth doesn't i would love for this job to. cover drug deals and 999 a boeing 767 took off from new york to cairo to my. point. where we don't know everything no one. survive the journey 20 years on al-jazeera world to revisit the case of the fatal egypt air crash flight 990 what really happened on al-jazeera. seen in doha the top stories on al-jazeera the un security council has called on libya's warring sides to commit to a cease fire it's also condemned the airstrikes that hit a migrant attention center near tripoli on choose day at least 60 people were kil

in europe. i think this is clearly a stratagem on the iranian leadership part of both to get leverage over the europeans in the hope that they can find some way to soften the impact of u.s. sanctions on its economy but also as you said to draw a line and to create distance between the u.s. and its european allies in the hope that it would give it more leverage in any type of future international agreement it's very difficult to see how the europeans could do much more to address iranian economic concerns. standing up a separate international financial mechanism that would not have exposure to the u.s. economy and to u.s. sanctions is the undertaking of many months if not years and the cost of so doing would be quite substantial so it's difficult to see how the europeans can do much more than what they've already done in the form of this bartering mechanism known as instax and the job administration says it wants new talks with iran is maximum pressure policy will continue we know that iran will

and europe. i think this is clearly a stratagem on the iranian leadership part of both to get leverage over the europeans in the hope that they can find some way to soften the impact of u.s. sanctions on its economy but also as you said to draw a line and to create distance between the u.s. and its european allies in the hope that it would give it more leverage in any type of future international agreement it's very difficult to see how the europeans could do much more to address aronian economic concerns. standing up a separate international financial mechanism that would not have exposure to the u.s. economy and to u.s. sanctions is the undertaking of many months if not years and the cost of so doing would be quite substantial so it's difficult to see how the europeans can do much more than what they've already done in the form of this bartering mechanism known as instax and the administration says it wants new talks with iran it says maximum pressure policy will continue we know that iran is i

europe poll said there had been 234 arrests in europe as well as the closure of 9 underground drug labs where the confiscated substances have been made before being sold illegally in shops fitness centers. sports people. but officials say the county tests at unspecified professional sporting events in connection with the operation indicating that professionals could also be among the customer base. wimbledon tennis now in the women's semifinal lineup is complete with some familiar names through to the last 4 serena williams overcame the fellow american allison risk in 3 hard fold sets the 7 time wimbledon champion will play the unseeded streets over the next meanwhile number 7 seed simona halep made short work of it as she was young the remaining 17661 to set up a meeting with alina as fit to lead in the last 4 i was going out of cycling at least. on the has claimed the 1st tour de france stage victory of his career the mostly flat 4th stage favored sprinters like devyani he stormed to victory after being put in a strong position by his quick step team to be on his teammate european. ke

will women's power drive europe forward. the funding lion has been in brussels the last few days courting europe the members of the european parliament how does she do. i'm not in brussels i don't know but i think she is doing a stone just that she is building a program from to their very fast she has a team behind her she needs to be a consensus to be confirmed next week interestingly enough she does have the backing of some of those eastern european leaders we've been talking about and also the populist leader in italy what does that tell us. she's more known and more positively known politician in the sensors in europe than many others as a minister of defense she tried to forge a common line between the your nato. and basically i think position on germany in central eastern europe is more. balance than it was before even a writer except a german many of these leaders would rather accept a german conservative candidate at the top job at european commission then a socialist dutch person because there was a perception that.

particularly in europe. jonathan: still with us are lisa hornby, gershon distenfeld, and noelle corum. this relentless rally in europe on the periphery and in credit. what is your exposure right now and how are you managing it? noelle: we like europe right now, not only is there value still left in asset prices, but you could also make money on the hedge, when you hedge it back from the euro to the dollar. we like investment grade a in europe a little bit at the , periphery. for right now, staying away from italy. jonathan: look at the nominal yield that you pick up in italy. 50 basis points. fewer than 50 basis points on investment grade in europe. is that sustainable? gershon: the fed has not cut yet. it is still 300 basis points. so to the u.s. investor it looks , good. the economy is weaker, but remember, what causes problems is not just economic weakness, it is leverage. on average, european companies have less leverage on the balance sheets than their u.s. companies. jonathan: that is a really interest

will women's power drive europe forward. milan ursula funder lyon has been in brussels the last few days courting europe been members of the european parliament how does she do. i'm not in brussels i don't know but i think she is the biggest on suggests that she is building a program from thin air very fast she has a team behind her she needs to be a consensus to be confirmed next week interestingly enough she does have the backing of some of those eastern european leaders we've been talking about and also the populist leader in italy what does that tell us. she's more known and more positively known politician in sensors in europe than many others as a minister of defense she tried to forge a common line between the your nato. and basically i think position on germany in central eastern europe is more balanced than it was before i mean they are rather accept a german many of these leaders rather accept a german conservative candidate at the top job by the european commission than a socialist dutch person because there was a

noelle: we like europe right now. not only is there value still left in asset prices, but you could also make money on the hedge, when you hedge it back from the euro to the dollar. we like investment grade a little bit at the periphery. for right now, staying away from italy. jonathan: look at the nominal yield that you pick up in italy. before the fx hedging. 50 basis points. fewer than 50 basis points on investment grade in europe. is that sustainable? gershon: the fed has not cut yet. it is still 300 basis points. to the u.s. investor, it looks good. we like european debt also. the economy is weaker, but remember, what causes problems is not just economic weakness, but leverage. on average, european companies have less leverage on the balance sheets than u.s. counterparts. lisa: i would agree with some of that, but base rates are so low. spreads, 50 basis points, base rates are so low, i would rather invest in the u.s. jonathan: what about the periphery? we have gone back and forth about etp's in the past. the ita

so what has cause he's saying you're against europe. one question yes how do explain the rise of he'll keep on trying less and you'll become europe. i don't know how do you think smart how do you explain the rise of i must tell you how do you explain the rise of some reason you know how do you explain that it's a failing over opinion that once you turn yes on the side of. the people you are getting the growth of houses across the political spectrum the growth of rejectionism of this model because the model doesn't work that's not me so what do we have then i mean we have nation states because of nation states borders walls and there isn't this dangerous i don't know and democracy here but where is america say what is not here. so i'm going on a journey to understand how come the far right can claim to be the savings and democracy you'll. never be sold one we sold how europe is facilitating gets on colonisation privatisation the extraction of resources in secret trade deals like the t.t.p. . the nature of the agreements. it's a construct

citizens europe has had to tighten its borders in order to prevent right wing populist from gaining the upper hand so they let me start out by asking you about the numbers that we're seeing as i mentioned this is in fact the biggest wave of refugees worldwide on record since the 2nd world war why is that and must we expect this trend in fact to continue rising it's indeed the case that the refugee influx to europe has been unprecedented since world war 2 but the reasons are very diverse we see people fleeing from war but also people searching for opportunities in europe so. there's on the one hand the intensification of war and conflict in the middle east and hardships in south america that lead to large movements of people but there's also economic developments in africa that lead to an increase in the number of migrants arriving from there and also crossing the mediterranean through libya. those who advocate tighter borders often see refugees as people who are making an economic choice basically looking for a better life those who advocate doing more to open borders to receive them ty

europe is growing in terms of before thegs since financial crisis have hardly grown in europe as they have expanded rapidly in the u.s. that reflects the different growth rate, different topline growth, margin growth, sector exposure with the u.s. with lots of technology companies. europe with lots of banks, companies like the autos which we discussed before. i don't think there is a huge gap between the u.s. and europe. it is literally a difference in earnings growth and sector. anna: nice segue into our next conversation around growth. sharon bell goldman sachs managing director european equity stategy. when we come back, we will talk more about the growth story in europe. french growth, underperforming. gdp numbers this morning came in below estimates. could this be the first european data disappointment of the week? should we prepare for more? this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." 20 minutes into the session and a mixed trade with gains in london and losses on the continent in terms of equity indexes. french economic growth came in we

know because possibly europe smokes in a full the arctic. and the turk largest in the hungary and parliament would be sure . to let us know when you meet the little one that i was there many people you are going to going to say something about me when i was there that talk i got actually settled which was a lot going to look at me. so was it i'm going to get you any. the uk or something new. and like most of europe so far right alongside their intolerance of foreigners france promises of economic protection. after 26 years of transition from communism hungary remains one of the poorest countries of the e.u. . there are still nearly 1000000 people living in homes without electricity and heating. in your books young leader goblet of war no nor stammering. so that we are one and only one woman i could ask one or 2 for you are on the critical shell of a plea because a ship has a lot of locals actually cause more than you got to shag she got a leash for sure any. time you got the to get your mouth but i'm going to be nice to get some out of my do

will women's power drive europe forward. funded lyon has been in brussels the last few days courting europe the members of the european parliament how does she do. i'm not in brussels i don't know but i think she is doing a stone just that she is building a program from thin air very fast she has a team behind her she needs to be a consensus to be confirmed next week interestingly enough she does have the backing of some of those eastern european leaders we've been talking about and also the populist leader in italy what does that tell us. she's more known and more positively known politician in the center it in europe than many others as a minister of defense she tried to forge a common line between the your nato. and basically i think position on germany in central eastern europe is more. balance than it was before even a writer except a german many of these leaders rather accept a german conservative candidate at the top job by the european commission than a socialist the dutch person because there was a perception that.

think europe. you know something that they're still together and get this together how long we've been killing each other for what centuries and now we have a you know we have common programs we have a common politics 25 year old friedrich continues his european journey in an easterly direction. to trist but from 6 to 6. is on route to slovenia one of the e.u.'s newest member states it was once part of the communist you can slavia. as the train heads for the italian slovenian border he makes friends with series a man ferrari who comes from the region. of my family tells me stories about when. and where there was a there was. they were doing was a very very. street yes. today people in europe can again travel freely. if you've been to slovenia yet but. after 3 hours the train reaches the mediterranean city and soon arrives at the slitheen border. there's no border guard in sight just a train conductor. for over 11 years this is being an open border. it's really interesting when people talk about the

it is worth it to fight for europe and to tell the story of our europe united and strong. how i see it for the future. this was an important moment. >> you made a lot of promises today. you realize it will be tough to keep all of those. >> it is not promises it is politics and policy we are going to bring forward. if we are talking about the climate neutral content -- continent, that is necessary. we have take old action. we needed for our planet and for our lives. these topics are extremely important and we have to be ambitious. >> what would you say about all those topics? which is your top priority. >> top priority is the climate neutral 2050 with a goal for 2030 and digitization. those are the two against concerns or opportunities that we have to tackle. >> you're going to work with a divided parliament where it is hard to get a majority. also, a divided council because you have a rift between eastern europe and the other european countries on migration. how will you handle this? >> i know that people in the east and central european countries often think they are not

fortunately, one of the upsides in europe is valuations are -- the earnings growth gap between europe and the u.s. has narrowed. the negative spin is it has narrowed because the u.s. this slowing rather than the eu is accelerating. the opportunity in europe is while europe is probably a lower quality market than the u.s., there are some attractive companies that stock pickers can identify. many of these companies are trading on significantly lower valuation multiples. nejra: have you fallen into the draw that some have had towards the bond properties in europe or are you being even more selective than that? marcus: i can see the attraction to that, particular when investors struggle to get a return in the fixed income market in europe. if you look at the top three performing sectors in europe over the past year, it is many of those. the health care sector, insurance sector and consumer staples. the challenge for us is most of that has been driven by multiple rewriting. it off theave taken table and look to harvest that yield. at a time when people are relatively cautious on the wider

what would it mean for rate in europe's, if anything -- rates in europe, if anything? jim: i think the choice was a good one, first of all. i think it is probably more of the same. for where we are in this economic cycle, that is probably a good thing. she was first to the punch on unconventional policy. remember her beating draghi to that. i believe she will be dovish. i think she will resort to unconventional measures. at first, those are probably going to be the same ones she has seen over the last few years , but if those don't work, i could see her taking it a step further. i think that dovish mentality we needed from europe very much gets another boost from her selection. vonnie: are there pockets of fixed income in europe that are attractive to janus henderson right now? jim: i think europe is a strange fixed income market. it is not particularly high-yielding. italy looks like it had some very attractive yields. those have disappeared. i think it still probably has a bit further to go, but i would look to credit. as long as you get the search for yield continui

particularly in europe. jonathan: still with us are lisa hornby, gershon distenfeld, and noelle corum. let's begin with you, noelle. this relentless rally in europe on the periphery and in credit. what is your exposure right now and how are you managing it? noelle: we like europe right now, not only is there value still left in asset prices, but you could also make money on the hedge, when you hedge it back from the euro to the dollar. we like investment grade in europe, a little bit at the periphery. for now, we are staying away from italy, though. jonathan: look at the nominal yield that you pick up in italy. before the fx hedging. 50 basis points. fewer than 50 basis points on investment grade in europe. is that sustainable? gershon: the fed has not cut -- you cannot take out that bond you just tried to delete. so to the u.s. investor, it looks pretty good. lisa: i agree with noelle, the economy is weaker, but what causes problems is not just economic weakness, it is leverage. on average, european compani

elected to the german conservative politician ursula fundal i and making her the 1st woman to hold europe's top job she says fighting climate change will be top of her agenda we'll talk with the president elect in just a moment also coming up. the world marks 50 years since apollo 11 the white stood off on a mission to put a man on the move. and the fight to combat the spread of each i v a as we report from south africa tonight on signs of progress in the battle against the disease. i'm burnt off to our viewers on p.b.s. in the united states and all around the world welcome to today members of the european parliament made history by electing the 1st woman to be european commission president germany's outgoing defense minister ursula fund a lion is now president elect of the e.u. commission will succeed. in the top job after being voted in by a very narrow margin of just 9 votes. will be the 1st woman to serve as commission president. and she has promised a unified and strong europe saying that she will work pragmatically to get things done. i feel so all notes and i'm overwhelmed and i than

located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and try our services. be alan guest at frankfurt airport city managed by from. never has it been the stock. is facing mass extinction. you could say that hope itself is in danger. but there is a glimmer. the biggest companies are uniting to create a global. possibility. that not only animals will be sent. to. the lions share of the conservation of hope. british marines have ceased and oil tanker loaded with iranian crude off. it's suspected the oil was on its way to syria in violation of european union sanctions the seizure was supposedly requested by the united states iran's state run news agency has described the incident.

within europe sporters that might yes but beyond europe's borders now because the european union it's complicated i've been in berlin since 2005 i followed berlin and there for a bit of brussels i saw now how it all works it is complicated in the united states of america nobody understands how it works it's just somebody gets elected and she was democratically elected there was a vote held she got the majority and she is now the president i think people are going to accept that whether europeans accept that because of the whole system we went through where she was agreed upon in this backroom deal as you were explaining it was all supposed to be transparent this time but they couldn't that transparency fell short it didn't give them a solution they needed a solution or so from the wind is known as being very pro-american washington. she devil a transatlantic sets and she always has been you know she lived in the united states for 4 years and because she lived there raising our kids there she knows society so she she doesn't view it just in the washington bubble but she she really valu

click here is a piece of asia europe. once again become aware of how big europe actually is and considering the buddhist tradition also all diversity. our report the hendrick valuing has already visited some very different and unique places around europe for this series you can find all of those adventurous on our you tube channel and its own playlist have a look. they say that too many cooks spoil the broth but at this open area bend in must say fronts that is not true because that's exactly what the organizers wanted to bring as many people as possible together for a gigantic open their cooking course and to prepare a dish together under the guidance of a star chef a cooking course in a huge 4 months. 1000 amateur chefs gathered in mar says' old town to take a cooking class with michelin star chef. levy he began with a recipe for a typical starter from france's province region oh is that it you know it's a tart teen with sardines and an olive top and not these are the 2 emblems of musée and profiles the sardine is embl

will women's power drive europe forward. underlined has been in brussels the last few days courting european members of the european parliament how does she do. i'm not in brussels i don't know but i think she is doing a stone just that she is building a program from to their very fast she has a team behind her she needs to be a consensus to be confirmed next week interestingly enough she does have the backing of some of those eastern european leaders we've been talking about and also the populist leader in italy what does that tell us. she's more known and more positively known politician in the center eastern europe than many others as a minister of defense she tried to forge a common line between the your nato. and basically i think position on germany in central eastern europe is more. balance than it was before even a writer except a german many of these leaders would rather accept a german conservative candidate at the top job by the european commission then a socialist dutch person because there was a perception that.

but to talk about britain and europe to begin with, that's very difficult nowadays because europe is so much in flux. as churchill once said the old soviet union — "a riddle inside an enigma wrapped in a mystery", with so many new forces coming to the fore. and britain, at this very moment, of europe needing new leadership and a new profile, is leaving. so i wonder if that is a wise thing to do, when you're leaving at the very moment when europe might need you more than ever. what has the eu done to yourself that you've put brexit at the head of everything else in the world, because it's ridiculous. it's the biggest — in my heart of hearts, i believe brexit is a fallacy. it is a real fallacy because it doesn't — it's not the main threat to british future existence. it's really the domestic agenda, which i would be far more interested in solving. so in a way, about brexit, i want to come clean. i want to come clean about the exit date, the 31st of october. so you're going to come clean on your first day in office? i would say it is unrealistic. because the people we want to know

brittain is poised to withdraw from europe at a time when europe is withdrawing from the world. the continent was once led by figures like thatcher and cole who all believed europe had to play a priv toll role in global affairs. they built the single market, navigated the collapse of the soviet empire, welcomed in the countries of eastern and central europe, and projected western values onto the post cold war world. today, european leaders are consumed with europe's economic strains, populus politics and anti-european back lashes. jaer i mean is in caretaker mode. macron wants a stronger europe but is bedeviled by troubles. and europe suspect businessly preparing for an exit. the main challenge to gloeblt stability is order is obvious. it is the assertive powers like russia and china. europe could play a crucial role in helping to reserve the rules and values that have been built up since 1945. but europe would need to harness its power and act with purpose. in fact, it's moving in the opposite direction. we are watching the sh rivling of a group of nations that have defined and

but to talk about britain and europe to begin with, that's very difficult nowadays because europe is so much in flux. as churchill once said the old soviet union — "a riddle inside an enigma wrapped in a mystery", with so many new forces coming to the fore. and britain, at this very moment, of europe needing new leadership and a new profile, is leaving. so i wonder if that is a wise thing to do, when you're leaving at the very moment when europe might need you more than ever. what has the eu done to yourself that you've put brexit at the head of everything else in the world, because it's ridiculous. it's the biggest — in my heart of hearts, i believe brexit is a fallacy. it is a real fallacy because it doesn't — it's not the main threat to british future existence. it's really the domestic agenda, which i would be far more interested in solving. so in a way, about brexit, i want to come clean. i want to come clean about the exit date, the 31st of october. so you're going to come clean on your first day in office? i would say it is unrealistic. because the people we want to nego

i want to stay with europe. blackrock proving that proving there are still some bond bulls left in the market. >> the ecb is likely to deliver what they say they will deliver at the central meeting. in fact, maybe even more. as odd as it may sound, we have a near-term favor of bunds over treasuries because we believe the ecb is more likely to deliver the full amount of priced in monetary policy easing. jonathan: the key line for many of you, as odd as it sounds, you should have seen the faces being pulled when that was being played out live on a program. your thoughts on that bunds , outperforming treasuries? matthew: we would take the opposite side of the trade. not to say that we are haters of bunds but our view is the fed is more likely to overdeliver than the ecb. mike: i would agree. the ecb cannot do much. difficult to get super excited at this point. kathy: i could see in the short run you see that outperform, depending on the duration, the steepening of the curve. over the long run, hard to see that. jon

citizens that europe has had to tighten its borders in order to prevent right wing populist from gaining the upper hand so they let me start out by asking you about the numbers that we're seeing as i mentioned this is in fact the biggest wave of refugees worldwide on record since the 2nd world war why is that must we expect this trend in fact to continue rising it's indeed the case that the refugee influx to europe has been unprecedented since world war 2 but the reasons are very diverse we see people fleeing from war but also people searching for opportunities in europe so. there's on the one hand the intensification of war and conflict in the middle east and hardships in south america that lead to large movements of people but there's also economic developments in africa that lead to an increase in the number of migrants arriving from there and also crossing the mediterranean through libya. those who advocate tighter borders often see refugees as people who are making an economic choice basically looking for a better life those who advocate doing more to open borders to receive them ty

we now pass through the suez canal to reach europe by the maritime bridge many cities in europe are vying to become the next gateway for the new silk road ma say in the south of france stands a good chance. we arrive at a village near the port a chinese village built out of containers on the edge of ma say. the masai international fashion center is a center for textile wholesalers who deal in fashions made in asia. madam chong is a wholesaler who occupies one of the containers. she sends her wares to shops across france while the country may be famous for. she's doing a booming business we've got a lot of that stuff. yesterday grandma and real magician now everything today's made in china from the big companies to the luxor relabels it's all made there and sent here nothing's made in france and you know. we work hard and we're proud of that the entire world knows that the chinese are industrious and hard workers and our quality is improving all the time that. you can buy if they still work the chinese aren't clock watches. europe is hungry for fashionable clothing at low prices china is t

for example europe, especially europe, to come to its aid. to stick to the nuclear agreement, you have to make our economy work. nejra: what bargaining power does the u.k. have here? philip said himself over the are sanctionshere already against iran, so it is not clear there are immediate additional things we can do but we of course are looking at all of the options. what are the options? riad: there are some options like they can put sanctions on specific individuals in iran. they can also ask allies to resume sanctions, to resume european and u.n. sanctions against iran, which is obviously not positive for iran. from the iranian press s2, that is not going to be a game changer, even if the u.k. does not put those measures in place yuan do notand the join the u.s. sanctions. at the end of the day, european companies are not willing to cross u.s. sanctions. they are not willing to do business with iran even if their governments say it is allowed to do business with iran, so for the iranians, i do not think this will be a big change to the di

the practice and it's expected to trigger a host of legal challenges plus a blistering heat wave in europe and record high temperatures france experiences of all time highs for a 2nd straight day and to germany belgium and the netherlands sweltering as well. i'm sumi so misconducts good to have you with us we start with a tragedy in the mediterranean nearly a 150 refugees are feared to have drowned after their boat capsized off the coast of libya more than $135.00 people were rescued after the accident and returned to libya it's the worst shipwreck to take place in the mediterranean this year. these exhausted migrants have been sent back to libya from where they had set off for europe right next to the survivors are those who did not make it. this woman says she lost her 7 year old son in the boat accident she's grief stricken but also angry she says no one helped her and her family in libya oh my god they don't know how did anyone they sent me away and they told me and my children that we had to find our own way. i just want to go back to my home country of sudan to die but it is. illegit

and europe. the economic trend is going to continue. for the central bank to maintain softer monetary policy than growth, modest inflation upside. we've obviously lower for longer monetary policy. emerging-market debt, credit, fixed income markets overall will continue to perform real or real -- continue to perform rather well. they are performing quite well your to date, and i believe it is the way to go for the second part of the year, without taking too bold a risk in equity markets. anna: all right, and what is your assessment of what has been driving up equity markets lately? some suggest the bond markets and equity markets are telling us a different thing, that equity markets are ignoring a global deterioration in the economy, whereas bond markets are acknowledging that and predicting worse to come. we look at equity markets, it is a very good question. one might wonder, what has driven this market your to date? this is a topic which is usually debated in industry as well. across seen outfl

the problem in europe right now, you assume credit risk in europe right now. investment grade, 50 basis points. you go into high yield, you can find some securities with a negative yield. where do you go in europe? peter: i kind of like italy. i think if you take european debt, european high-yield, we are eyeing that. work on this more versus u.s. high-yield but i think there is such a dearth of debt. i also very much like the european banks right now i think -- and i think people undervalue them. i think we will see a sea change in europe. lagarde is there to bring in a fiscal stimulus. i think she as a politician is there to force fiscal stimulus, turn the european economies around, and we will have a different growth story, and she may do qe on top of it. i think you will see the change, where everyone has been so negative european growth. there's a lot of undervalued securities at the banks, and italy. jonathan: what worries me about the fiscal stimulus argument, the people calling for it may be the same that are uncomfortable with it if it comes. if you g

i want to stay with europe. that provingving there are still some bond bulls left in the market. >> the ecb is likely to deliver what they say they will deliver at the central meeting. in fact, maybe even more. haved as it may sound, we overr-term favor bund treasuries because we believe the ecb is more likely to deliver the full amount of priced in monetary policy easing. jonathan: the key line for many of you, as odd as it sounds, --bunds outperforming treasuries? matthew: we would take the opposite side of the trade. not to say that we are haters of bunds but our view is the fed is more likely to deliver than the ecb. mike: i would agree. the ecb cannot do much. difficult to get super excited at this point. kathy: i could see in the short run you see that outperform, depending on the duration, the steepening of the curve. over the long run, hard to see that. jonathan: what do you make of the quite selloff in the german bond market? 16, 70 basis points on the 10 year. mike, it has been so quiet, hardly anyone

this relentless rally in europe on the periphery and credit. what is your exposure right now and how are you managing it? noelle: we like europe right now, not only is there value still left in asset prices, but you could also make money on the hedge, when you hedge it back from the euro to the dollar. we like investment grade a little bit at the periphery. for right now, staying away from italy. jonathan: look at the nominal yield that you pick up in italy. 50 basis points. fewer than 50 basis points on investment grade in europe. is that sustainable? gershon: the fed has not cut yet. still 300 basis points. to the u.s. investor, it looks good. the economy is weaker, but remember, what causes problems is not just economic weakness, but leverage. on average, european companies have less leverage on the balance sheets than their u.s. companies. lisa: i would agree with some of that, but base rates are so low. 50 basis points, base rates are so low, i would rather invest in the u.s. jonathan: what about the periphery? the italian 10 year is week

what europe has taught us is there is no lower bound. if equities are weak, if the economy is weak, we can go a lot lower, even negative. on the other hand, i'm not sure we should believe this will be the equilibrium rate of inflation. rates probably should be higher in the longer run. you: it depends on how interpret bob michele's call. he said rates would go to zero over some until have time, which is probably true. in the next recession, they only have 250 basis points of cuts to do, so they will probably end up at zero. that is a fair assessment but i don't think it's happening in the next 12 months. jonathan:do, so they will probap the amount of money in money market funds right now and the idea that when a rate cut comes, that money will need a new home and it will be treasuries. what do you think of that particular call? noelle: we think treasuries are largely priced. especially on the front end. we are calling for two cuts, the market is calling for close to four. we think getting more into the credit sector, a lot of that money

i've made my way to the south eastern most part of europe. yes an autonomous republic of the russian federation created between the caucasus and the. biggest buddhist temple in the countries in the capital it is time it is a nation's most important symbol. some 160000 buddhists live here coming just the only buddhist country in europe. or in part has been the spiritual leader of the comics in buddhists since 1902. buddhism is not just a religion it's a way of life and when i say a way of life it's part of one's culture with his him it's very important for people of color we did they are a believer in buddhism are not. this that lies just beyond the city travis once the ancestors of the comics the mongols did the nomadic people 1st arrived in the region in the 17th century actually it's not as comfortable as it may look like so i'm really glad that i can get of the camera for. at one point the camels were used for transporting new york. until the early 20th century whole families lived in these portable tents. or think if you pull out that the

we now passed through the suez canal to reach europe by the maritime route many cities in europe are vying to become the next gateway for the new silk road ma say in the south of france stands a good chance. we arrive at a village near the port a chinese village built out of containers on the edge of ma say. i. the ma say international fashion center is a center for textile wholesalers who deal in fashions made in asia. madame chong is a wholesaler who occupies one of the containers she sends her wares to shops across france while the country may be famous for. she's doing a booming business we've got a lot of that stuff. yesterday and real magician up maybe think today's made in china from the big companies to the luxor relabels it's all made there and sent here nothing's made in france and you know. we work hard and we're proud of that the entire world knows that the chinese are industrious and hard workers and our quality is improving all the time. if they still work the chinese aren't clock watches. europe is hungry for fashionable clothing at low prices china is thirsty for expe

we now passed through the suez canal to reach europe by the maritime bridge many cities in europe a vying to become the next gateway for the new silk road ma say in the south of france stands a good chance. to move. we arrive at a village near the port a chinese village built out of containers on the edge of ma say. i. ma say international fashion center is a center for textile wholesalers who deal in fashions made in asia. madame chong is a wholesaler who occupies one of the containers she sends her wares to shops across france while the country may be famous for. she's doing a booming business we've got a lot of that stuff. yesterday comma and real magician up everything today's made in china from the big companies to the luxor relabels it's all made there and sent here nothing's made in france and you know. we work hard and we're proud of that the entire world knows that the chinese are industrious and hard workers and our quality is improving all the time. if they still work for what the chinese aren't clock watches. europe is hungry for fashionable clothing at low prices china is thi

about migration an issue that has that has split europe that has dogged europe it has caused problems for you that's caused problems for many countries across europe what has the would be. the would be commission president said about her stance on how to tackle that issue. her strategy was twofold when the title was we knew we need a new new start on migration so that resonates well with everybody it doesn't really mean anything and that's why she has this 2 fold strategy 1st of all she said we need to rescue at sea so that was something that would alienate only the far right which obviously she doesn't care about and she also said she didn't care about those votes today in the european parliament so for very important to make sure people that try to cross the mediterranean and get into trouble are arrested and that's one part but the 2nd part and there she caters a more to the right and other influences in the european union when she says we need to also strengthen our border agency we need more people there we need to control the borders better and that's also consensus nowadays in

that's the moment that europe is reaching. and so, we kind of thing that britain might be turned into this cauldron of intergovernmental relations and forget about this... one great irony of this, and it is reflected in the fact that if you thousand disproportionately elderly local members of the conservative party are determining who's going to be the next prime minister of this country, not a national election. the main consideration, i mean, or as is many things, he is not stupid. this locking oneself into the halloween deadline, saying if there's no deal there's no deal, is not about europe, it's not even about britain, it's about nigel farage. it's an internal conservative, brexit party... it is also an english problem, rather than a british problem. borisjohnson, to go back to what you're asking, imean, president micron six months ago had sort of coalesced four orfive eu members to say, ok, no more extension, we have had enough. but six months later, almost a year later, at the end of october, i think there will be many

maria: do you invest in europe? let's talk europe for a second. we had rick reeder on he said do not underestimate christine taking over at the ecb because she's a politician not economist patient no wiggle room. she will not be able to cut interest rates so what will she do? she will by european equities. would you by european equities? >> i would as an investor. evaluation is pretty good. if you look over the last several years, pretty long time period europe is gone pretty much nowhere as the u.s. has gone up. maria: the economy cannot grow there. >> the economy has been challenging for you look at global corporations based there, shell is a great example.you know in international oil companies a good valuation. but should the central bank by stocks is a different question. we are buying them because there are a great valuation. federal banks by things not for an economic outcome they are not buying bombs to make money thereby two affect the economy. that is the playbook and would caution folks to look at how did it work out in japan? are we re

americas in europe why the sale of cannabis was illegal until 2017. martine collapse so does not want us to say exactly where we. behind this election fight fence is the marijuana plantation he attends with the other members of his cannabis club. growing and consuming recreational kind of base under strict conditions has been illegal in here a guy since 2017. but we were going to source more and more people here except cannabis. as are consumers we now have the same rights as everyone else who consumes other drugs such as alcohol and tobacco no more should be left. to secure storeroom of his cannabis club contains last year's harvest more than 120 kilos sorted by variety some mild some strong. they're for the exclusive use of the 45 members of the club that's the law. he's going to deliver a batch of the homegrown wheat to the club in the capital montevideo a laboratory analyzes samples and the individual packs are clearly labeled as to content and strength. it's a radical change that we can now grow it legally we used to have to buy cannabis smuggled