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Speaker 1: Broadcasting live to New York, Bloomberg eleventh to Washington, d C,

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Speaker 1: Bloomberg to Boston, Bloomberg dwell Runners to San Francisco, Bloomberg

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Speaker 1: nine to the country is Exam Channel one ninety and

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Speaker 1: around the globe the Bloomberg Radiolus and Bloomberg dot Com.

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Speaker 1: This is Bloomberg Surveillance seven thirty on Wall Street and

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Speaker 1: Michael McKee along with Tom Keene, were two hours away

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Speaker 1: from the opening. What looks to be a an up

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Speaker 1: opening this morning on Wall Street with futures all higher.

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Speaker 1: Some of the corporate news that has broken overnight that

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Speaker 1: you may be interested in Carlisle two years after buying it,

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Speaker 1: shutting down Diversified Global Asset Management, a hedge fund of

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Speaker 1: fund manager that was supposed to be part of its

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Speaker 1: push to expand beyond private equity. Yahoo's going to begin

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Speaker 1: approaching potential corporate and private equity buyers as soon as today,

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Speaker 1: according to people familiar with the process. Yeah who shares

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Speaker 1: up one and a half percent. HSBC posting an unexpected

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Speaker 1: fourth quarter loss income from lending fell loan impairment charges

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Speaker 1: increased right now HSB she shares in Europe trading down

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Speaker 1: by two point nine percent in the world's twelve biggest banks,

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Speaker 1: cutting front office currency staff by five percent in two

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Speaker 1: thousand fifteen, according to the Financial Industry Analyst Coalition, Development,

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Speaker 1: that extends a trend that's seen them reduced for in

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Speaker 1: exchange headcount by more than a quarter since two thousand ten.

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Speaker 1: I'll check in with John Tucker now and get the

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Speaker 1: latest world and national headlines. John Well Michael Andrew predicting

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Speaker 1: he could pull off a polletial upset in Nevada and

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Speaker 1: more than a week before potential wins on Super Tuesday,

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Speaker 1: Bernie Sanders assuring supporters he's working too hard to close

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Speaker 1: the gap in Saturday's primary in South Carolina. No poles

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Speaker 1: in South Carolina have shown Sanders closer than eighteen points

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Speaker 1: down from Hillary Clinton. Apple resisting a court order requiring

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Speaker 1: the company to help unlock the I phone of a

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Speaker 1: dead terrorist. The US Congress, they say, now form a

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Speaker 1: committee to discuss privacy and personal freedoms. Apple would gladly

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Speaker 1: take part in such an effort, the company, saying it

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Speaker 1: a statement on its website today. The US Auto Safety

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Speaker 1: Regularly says it's investigating all Toccata airbag inflators that use

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Speaker 1: a chemical propellant ban from future models. You know, compiled

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Speaker 1: data to determine whether to expand the industry's broadest recall

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Speaker 1: ever and serious main political opposition is meeting today to

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Speaker 1: discuss a proposed ceasefire whose potential for even limited success

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Speaker 1: has been undercut by a spike in violence. Global News

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Speaker 1: twenty four hours a day, powered by journalists in more

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Speaker 1: than one fifty news viewers around the world. I'm John Tucker, Michael,

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Speaker 1: Thank you very much, John. Time now for the Ray

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Speaker 1: Katina Auto Group Bloomberg. NBC Sports Update with Rob Bushka,

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Speaker 1: Rob Morty, Mike. The Rangers continue to get just enough

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Speaker 1: timely offenses. They took a Detroit stale main to overtime

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Speaker 1: at Madison Square Garden. It's kinda fifth goal of the

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Speaker 1: year for client. That's NBC Sports Network with the Call

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Speaker 1: Red Wings, Netmabor, Jimmy Howard. He was good twenty nine Saints,

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Speaker 1: but Hank GluN Quiz made all of his twenty two

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Speaker 1: stand up for another shutout. The Rangers have a stronghold

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Speaker 1: on thirdday Trail Florida by just a point for the

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Speaker 1: two seed. Rangers will skate at New Jersey on Tuesday,

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Speaker 1: Islanders head to Minnesota. Also on Tuesday, the long season

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Speaker 1: continues for the Nets, beating at home by the Hornets

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Speaker 1: one O four ninety six. Brook Lopez the long bright

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Speaker 1: spot offensively on what went wrong? We got some good books,

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Speaker 1: they stint go down, then we turn them ball over

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Speaker 1: a bit much. You know, I wasn't really good to

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Speaker 1: take all defense. Then on our week's side, wasn't there

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Speaker 1: all the time, you know when we lose games. So

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Speaker 1: I think those are definitely have been two key factors.

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Speaker 1: Lopez finished with a double double, sixteen points, ten rebounds.

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Speaker 1: Nick solst the Raptors is seven thirty Jimmer for a debt.

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Speaker 1: He'll join the team on a ten day contract. Exciting

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Speaker 1: game at St. John. It wasn't meant to be, though.

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Speaker 1: The Red Storm rallied from a nineteen point deficit, still

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Speaker 1: came up short sixty one. And that's your NBC Bloomberg

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Speaker 1: Sports Update. Mike, Thank you, rab This is Bloomberg Surveillance.

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Speaker 1: You are listening to Bloomberg Radio worldwide. Welcome back to

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Speaker 1: Bloomberg Surveillance. I might come a key along with Tom Keene.

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Speaker 1: It looks like a green day, at least at the

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Speaker 1: start this morning. S and P Future is up big

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Speaker 1: twenty points right now, one percent, one point one percent.

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Speaker 1: For Dow futures, they're up a hundred and seventy six points.

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Speaker 1: Nasdaq futures up one point two percent. That's forty eight

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Speaker 1: points on that index. Why well, here's what you need

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Speaker 1: to know. West Texas thirty seventy three point six percent.

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Speaker 1: It's a four percent game for Brent crude thirty two.

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Speaker 1: The kalish the correlations seemed to be holding the Bloomberg.

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Speaker 1: N j I T STEM Report is brought to you

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Speaker 1: by New Jersey Institute of Technology, partnering with government and

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Speaker 1: industry to apply the university's world last research assets to

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Speaker 1: innovate and spur economic growth. Learn more at n j

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Speaker 1: I T dot e d U. Here's Bob, Thank you, Michael,

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Speaker 1: And at seven thirty five on Wall Street, Here's what's

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Speaker 1: making news in science, technology, engineering, and math. Kind of

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Speaker 1: fancy new camera option helps Samsung win back smartphone customers

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Speaker 1: from Apple. The company is showing off its new products

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Speaker 1: at the World Mobile Congress in Barcelona, including virtual reality

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Speaker 1: hardware aimed at breathing new life into its premium line.

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Speaker 1: The latest Galaxy s seven smartphones. It took the wraps

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Speaker 1: off a three sixty degree camera designed to work with

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Speaker 1: the S seven. The Gear three sixty accessory is being

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Speaker 1: seen as a halo product by analysts who say it

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Speaker 1: could help boost sales of the smartphone in an accelerating

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Speaker 1: global market. Samsung is keeping the form and shape of

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Speaker 1: last year's models while fixing some shortcomings including battery power,

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Speaker 1: and touting their potential role in the coming virtual reality boom.

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Speaker 1: Also at the Barcelona Expo, Forward plans to debut a

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Speaker 1: new model for the European market, unveil in car technology,

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Speaker 1: and outline its latest plans under the umbrella of Ford

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Speaker 1: Smart Mobility, the company's initiative encompassing areas such as connectivity,

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Speaker 1: autonomous vehicles, and big data. We got up with Ford

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Speaker 1: CEO Mark Fields, where obviously here at the Mobile Wall Congress,

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Speaker 1: because we're really emphasizing the point that we are transitioning

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Speaker 1: from an auto company to an auto and a mobility company,

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Speaker 1: and by million autos worldwide will be connected to the

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Speaker 1: Internet nearly four times more than last year, according to

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Speaker 1: I h S Automotive. That's this morning's Bloomberg and j

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Speaker 1: I T STEM report. Michael well, thank you very much. Well,

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Speaker 1: if you are holding British pounds this morning, you lose

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Speaker 1: pound down two point the biggest drop one day drop

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Speaker 1: since two thousand and ten, and we're getting down to

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Speaker 1: close to very close to the lows of the year.

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Speaker 1: Oddly though, at the same time, the foot see is

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Speaker 1: up by one point three seventy nine points right now.

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Speaker 1: All this after David Cameron got concessions from his you

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Speaker 1: colleagues and set a referendum on whether Britain should leave

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Speaker 1: the European Union for June. Boris Johnson, the mayor of London,

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Speaker 1: same party as David Cameron, says he will campaign to leave.

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Speaker 1: So what is going on in Britain and how does

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Speaker 1: it affect investors? For that, we turned to Robert Cinch,

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Speaker 1: macro strategy consultant at Amherst Pierpont, longtime watcher of foreign

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Speaker 1: exchange markets. Uh, A man who probably even knows what

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Speaker 1: marmite is. Uh, thank you for joining is this morning, Bob.

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Speaker 1: What are we to make the big sell off in

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Speaker 1: the British currency at a time when people are pouring

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Speaker 1: into British equities. Well, I think, uh, I think this

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Speaker 1: may be another situation where markets are getting, uh, probably

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Speaker 1: a little bit more excited about this whole topic than

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Speaker 1: is justified. You know, you look at some of the

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Speaker 1: latest polling and it actually has Although the polling in

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Speaker 1: the UK hasn't been the most reliable, it does show

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Speaker 1: UM about a ten to fifteen point lead for those

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Speaker 1: who want to stay in the EU UM and if

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Speaker 1: that's the case, then all this becomes a moot. I

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Speaker 1: also think it's probably worth while waiting until we get

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Speaker 1: the full presentation UH and discussion UH in Parliament by

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Speaker 1: by the Prime Minister. So so I think that you know,

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Speaker 1: the markets are skittish. The dollar in general in general

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Speaker 1: is a bit stronger this morning on slightly higher US

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Speaker 1: rates and a little bit better risk appetite, and I

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Speaker 1: think that's contributed to it, along with some weaker UK data.

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Speaker 1: So I think there's a lot of factors working themselves

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Speaker 1: in But certainly right now, with the Bank of England

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Speaker 1: squarely on the sidelines, there's no reason not to be

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Speaker 1: to be selling pounds, and I think that's a lot

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Speaker 1: of what the spectative community is doing all right now.

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Speaker 1: We're seeing the lowest pound rates since March of two

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Speaker 1: thousand nine. Acquire of the headline that just went by,

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Speaker 1: and I have to wonder if in the short run

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Speaker 1: this might be a bye given that, as you say,

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Speaker 1: the b o E is on the sidelines at the moment,

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Speaker 1: but the economy still seems to be strong, and the

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Speaker 1: idea that they are going to rein on the sidelines

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Speaker 1: could change as fast as sentiment in the US changes

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Speaker 1: every time we have a good can economic data point. Yeah,

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Speaker 1: I mean, I think this is uh, this is a

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Speaker 1: situation where the pound is certainly um, as you said,

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Speaker 1: down to two very low levels on a risk reward basis.

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Speaker 1: I think if you had to do something, um, you're

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Speaker 1: probably I would think it better off buying here rather

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Speaker 1: than selling. But um, I don't think you really need

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Speaker 1: to do anything. Um. I think this is a situation

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Speaker 1: that is that's very fluid. As I said before, we

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Speaker 1: know that the polling in the UK has been particularly

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Speaker 1: unreliable amongst polling around the world. So I think that

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Speaker 1: that you know, this is this is one where it's

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Speaker 1: better not to play than to try to take a

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Speaker 1: position on it one way or the other. What about

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Speaker 1: in terms of the cross with the Euro, Yeah, I

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Speaker 1: mean I think that that the Euro has its own problems. Also, UM,

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Speaker 1: I think, uh uh, you know, the ECB is looking

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Speaker 1: at data. We just got data out today showing the

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Speaker 1: man manufacturing sector weakening up a little bit more UM,

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Speaker 1: and the overall the overall economy looks like it's off

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Speaker 1: to a sluggish start. So the pressure certainly is building,

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Speaker 1: I think on the on the ECB to try to

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Speaker 1: ease policy UM at its meeting in early March. On

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Speaker 1: the other hand, UM, I think there's a growing sentiment

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Speaker 1: that maybe negative rates aren't all that that they were

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Speaker 1: supposed to be in terms of stimulating growth and inflation,

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Speaker 1: and the ECB is notoriously slow in finding alternatives. So

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Speaker 1: I think this could be a tough environment for the

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Speaker 1: euro over the next month or so UM, because because

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Speaker 1: it's it's not clear what the ECB's options are going

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Speaker 1: to be. All Right, we'll continue this conversation with Bob's

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Speaker 1: Inch from Amherst Pierpont in just a moment here on

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Speaker 1: Bloomberg Surveillance, the euro pound cross rate is point eight

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Speaker 1: at the moment, the euro going for one against the dollar.

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