Down for our markets. You can see now extending losses by 6 10 of 1 with the s p and nasdaq down by 4 10 of 1 . Lets take a look at the ride for the s p 500. The flatowns, crossing line. Then we have some definitive thatn and definitive sense the potential rate hike in toember may be happening up 61 , which is up 10 points in the last week. We are just off session lows. Look at the function, which is a sector of health and s p. Bylities are down the most 2. 3 , also accelerating losses on talk of that potential rate increase. Higher Interest Rates are helping. In the sector right now, up by one third of 1 . Not just down on the day, down on the last two days. And oneabout seven third percent as the possibility of a rate hike continues. Lets take a look at the biggest losers on the s p 500. It is about three years or so. Cutting to 12 because of more global competition from renewable resources. Also a hold to a buy, saying the possible rand sale, which is an antioxidant lowcalorie drink will be that is a wrap right now. In on the first word news. U. S. Officials and investigators estimate a commuter train was traveling 20 through 30 mile per hour when it slammed into a new jersey rail term last week. That is according to the associated press. Federal investigators are basing the speed estimate from the extent of the damage, which killed a woman on the platform and injured more than 100 others. Secretary clinton promised to provide paid family leave and six days and sick days for working moms. What i have been trying to do is really a continuation of what i try to do throughout my entire life. Everythingdo possible to put kids and families front and center. Sure we provide the opportunities that families deserve to have. Clinton has made pennsylvania one of her top targets on the 2016 battleground map. Another tirade. He told president obama come you can go to hell over u. S. Criticism over his antidrug campaign. Saying the 28 nation bloc the antidrug fight has left more than an estimated 3000 suspected drug dealers dad in just three months. The way has been cleared for a Global Climate deal to take affect. European parliament has proposed a sweeping to fight pollution. Last year more than 190 nations agree to work toward capping global temperature increases. Global news 24 hours per day powered by 2600 journalists and analysts in over 120 countries. Fast forward five years, will Interest Rates be extremely low and will bond deals be in stock today . Earlier they took earlier joined bloomberg. It is possible, because every time we have expected rates to move up they havent, and every time we thought rates could in gets lower, often they have gotten lower. Bet and that be my is the mainstream view. But it is entirely possible. I dont personally think rates are going to go lawyer go lower. Nobody would bet their life against it. I also think youre going to see some easing up from the Central Banks. It is a lot more possible today than it was six months ago or a year and a half ago. Slow hing pretty pretty so bring about longterm economic growth. You look at the latest data on world trade it is really discouraging. I saw forecast a couple of days ago. I think yearoveryear less than 3 growth. That is so far below what we have seen recent years that it ties together with a lower longer scenario. Where the Systemic Risk is, the imf says it points to Deutsche Bank. This is the european senior financial credit default swap index. It looks at 30 plus Financial Companies that were always equally rated. But we have seen a steepening here of the credit default swap for this index, which would imply there is some index for the bank. Do you see that . Not particularly. The Banking Sector is in such a profoundly different place than it was eight years ago. From the point of view of capital buffers, supervision and regulation, streamlined business models, it is just a much sounder, safer system. Certain european banks are weaker than their international counterparts, and we all see the pressures. About 18t equity is billion. One of the things going on here for ay are under pressure number of reasons. It is not the size of the market cap but the size of the balance sheet. They just dont understand what is there. Whether it is through europe, through the united states, etc. The Justice Department would have been greeted very differently. Difference than the market cap. Pay 14 billion. That would be the reaction against one of the big u. S. It thanks. There are also the european banks. Is this a specific situation . I think it is more specific than otherwise. These institutions they are pretty they are primarily a Wealth Management is missed. A considerably stronger direction. I think there are more differences than similarities and i dont expect them to work in a european banking contingent. Is it an equity raise, a death rays. I dont know the answer to that. Theres a lot of speculation. I think it depends on what the likely settlement amount is. Is it 4 billion, is at 5 billion . Determine whether or not they need to raise capital. Coming up from dealing with china to battling big fluctuation and commodity prices, how is the u. S. Industry still coping . Have john kerry a luck, head of the largest steelmaker as our guests next. This is bloomberg. Vonnie it is time for the latest business flash and a look at the biggest business stories in the news right now. Still hammering out the details of the transaction. That is going to people familiar with the situation. And the party still havent reached a final agreement. In owner of usa today is talks to buy it for 15 per share. If we if the acquisition is theessful, they could gain los angeles times, chicago tribune, and baltimore sun. Scanning customers incoming emails for specific information on u. S. Intelligence. Informationr what officials were looking for, but ceo Marissa Mayers decision to obey the request last year led to the departure of chief Information Security officer. The International Monetary funds morning that political turmoil is posing a risk to an already weak recovery. The imf maintains its growth forecast. 3. 4 in 2017. Advanced economies are likely to stay on a low growth path. Imf managing director Christine Lagarde joins Christine Locklin live from washington for their annual conference. That conversation begins at 9 30 a. M. Eastern on Bloomberg Television, radio, and online. That is the latest business flash update. It has been busy on the deals front. It Just Announced it is reworking the natural gas on ament, 49 of interest gas basin. And acquiring joining us to talk about those deals, the state of the Steel Industry and the state of the u. S. Economy is chairman and ceo of nucor, also vicechairman of the world steel association. You have a birds eye view of what is going on in global trade. Lets talk about these natural gas agreements. I asked myself why so involved in natural gas . For us it is a natural hedge. It impacts our total cost of production presignificantly. How has the cost of production been going over the last year . I know you have had some pricing power. When you look at natural gas into our steel process, that is some good news. Generally prices have been going down. Them the imf came out and warned what it called a frankincense is on trade. Where do you stand on tariffs . Im pretty clear where i stand. Lawsieve we have trade that must be obeyed. We must enforce them. I believe the best way for the Global Economy to prosper is to have free of fair trade. You do where both of the candidates seem to be pulling back from that . We like the position of both of the candidates. Strong supporters of enforcing our trade laws. Feel either way feel good about the leading our laws to go forward. They are against tdp. Need these trade agreements to enforce free and fair trade . It is good to have free trade that is balanced with partners of the law. Clearly china does not always follow the law. The dumping they have been doing, subsidies. It all creates a very unlevel Playing Field. Is there one candidate you think would be better in enforcing those laws or agreements . Both parties are recognizing the need for food trade policies and our trade lot to be protected. What about the view of the products coming over from the u. S. To china . Would you want the amount to diminish . We wanted to be fairly traded. We wanted to limit the subsidies these companies are receiving. On low to zero interest loans, it gives them a competitive position. We are confident that it given a level Playing Field we will outcompete the chinese and any other country in the world. You just eliminated terrorists it wouldnt make you happy, because a mix he thinks the government think the governments are subsidizing there. When i say free trade, i mean trade that is free of government interference of any kind. That is the best way for the Global Economy to prosper. A 15 billion market cap company. You have a pretty good birds eye view of the economy. Where do you see the economy heading as the demand for steel increases . Im personally disappointed in the growth of the u. S. Economy. You look at gdp growth since 2009, youre looking at 1. 5 average per year. We need to see policy changes that stimulate the economy, and make us happy. Do you see a recession as a possibility . I think it is going to be determined by who the next leader of our country is. We really appreciate it. The ceo of newport. Sports teamsd, how are trying to unlock the 1 trillion purchasing power of their lgbt phone. Of their lte phone. Vonnie in a dramatic reversal from the not so distant past, professional sports teams are trying to embrace their lgbt fans. Jeff green reports about it in the Bloomberg Businessweek. As you point out just two years ago, you wouldnt have seen many pride days at professional sports games. Haseoples perception changed pretty dramatically. For five years ago the majority of americans thought gay marriage was wrong. That has flipped, it is now legal. You have people looking at the situation. Saying this is something society has shifted on and we need to get with it in order to attract fans. Millennials want to feel like they are in an inclusive environment. Story ite on your sports has been a bastion of homophobia. It is not necessarily that they arent a bastion to some degree anymore. Is just the companies and sports teams are making an effort to let the fans know this isnt ok. The players are having policies to suggest homophobia is not accepted. Just the perception is changing for the fans, not so much that the reality underneath it is shifted overnight. How much of this is topdown . Clubalk about a soccer that has its own pride. Something coming from the corner offices . It was a coach whose son was gay and talk about how difficult it made to play. They created an Organization Made by the nfl. Prime nights all focused in a particular time frame. But it started this grassroots effort. They kept the Foundation Going in his memory and it became a movement within the nhl. Wnba has been part of the east coast. All their teams do it. Nfl is still a work in progress. It tends to be team by team. Fans and advocacy groups are starting to demand it. Allinclusive certainly in my view. Sports leagues are realizing it makes Financial Sense to open up their crowd. Almost 1 trillion in spending power based on the way they measure spending is something to Pay Attention to. That is in line with the minority groups that other people will go to when youre talking about hispanic or black or other groups. And to ignore or alienate them is to or alienate them is a bigger concern. You can read his story in the latest Bloomberg Businessweek, and hear more from the reporters every saturday and sunday on Bloomberg Television. The pound falls to his lowest level against the u. S. Dollar since 1985. We will get insights on what is ahead for the u. S. Head of fx strategy. Later today we are going to be talking with jenna Capital Fund Manager bill gross and his newest outlook. Newest Financial Technologies like bitcoin may become increasingly attractive to investors. 3 p. M. Eastern, 8 p. M. London time. This is bloomberg markets, i am matt miller. Lets take a look at the prices starting with energy. Still trading near a threemonth high as investors look forward to next months opec meeting. Hurricane matthew threatens unharvested u. S. Crops. And rawparts of florida sugar. Could fall by nearly 3 . Nickel heading for the biggest twoday loss. Mines avoidne shutdowns from an up government audit from producers. Take a look at this chart. In our Bloomberg Television library. It shows the falling price of gold. Time since the brexit vote. Improving u. S. Economic data, both during the case bolstering the case against interest fairing assets is one of the reasons, and a lack of inflation is another reason. Now we are at a threemonth low. Thank you. Lets check to first word news. Mark president obama is eventing a political because of hurricane matthew. The president was scheduled matthew could menace florida toward the end of the week and push its way toward the east coast. The president will go to fema headquarters to monitor the storm. U. S. Foreign disaster teams have been deployed to haiti, jamaica, and the bahamas. During whitewater probe of the 1990s being released. If they outweighed any Public Interest for disclosure. Additional watch argued that the president ial bid compelled disclosure. No one is expecting fireworks in this debate. The Vice President ial nominees, democratic tim kaine and mike pence meet tonight in virginia. Two ofe considered americas most mildmannered political figures. You can watch the Vice President ial debate here on Bloomberg Television. The United Nations says 80 of the population from yemen is in need of some form of humanitarian aid. Yemen is the worlds poorest country. Global news 24 hours per day powered by 26 hundred journalists and analysts in over 120 countries. This is bloomberg, back to you. Vonnie big news in the currency market with the pound dropping to its lowest level in three decades. Other moves to since then. U. S. Head of fx strategy. That deeply impacted the pound. There was no massive move yet. When does it happen . We said it over the course of the next year and a bit. You are an outlier at one point. This is going to be a grinding story. Cap tou get enough coming in . And every so often punctuated by these headlines. Theyre going to drift to what we are calling toward a hard brexit. Really for referring to a mechanical balance of payment story. You are not looking for any gap lower when they were triggered or when inflation comes in and involves 2 . Markets cant help themselves. That is not a vital story. It is not like were going to take a leg down for three months. A much more grinding story. Where will inflation be . May be up 5 at that order of magnitude. Currency,et a weaker inflation goes up. I think the bank has to be aware of that. They are looking for the adjustment. That Exchange Rate move carries on year after year after year. We are so used to seeing my entire life, sterling, trading at around 150. It has been down to 130. It looks like a stephen major call. Morning, it was prevailing. Thats how long we are going back. We all thought it was pretty normal. Gradually winding down bond purchases, ache super exclusive well done team. This is causing the dollar to trade the low. Is this a major deal . Is this a good thing. Pace at whiche they deliver bond purchases, to the extent it was a big qe program that engineer dollars lower from 140. The question is do they follow through . Until september of 2017, which will weaken the euro further. We are not looking for things to go very far. I would think the most important thing, we obviously care about cable and the eurodollar. What is the most important pairing . Pound an important pair . Our cable forecast and what thatcast means is for sterling, you have an Exchange Rate moving for parity. We talk about a peculiar number for british people coming to the state. Parity would require big change in spending patterns. The point where our Prime Ministers are stopping us from going on holidays. I dont want to draw too much of a comparison. That is not any that is the same mechanism. Is it a controlled dive . England would describe it as a glacial decline. Then they will step in. The mexican peso, trade here any sort of fragile currencies that we need to be watching . Become the monitor of things. It has been fashionable to look on the flip side. These have become the hypersensitive currencies. Slip actbeginning to behind teller clinton in the race. As you say it is a sensitive currency. What is your favorite trade at the moment . I do think it is a recently populated trade, but that doesnt mean it cant work. You mentioned new mexico and the russian ruble. I think people are looking for any satiric draw. Some of the other big plays are still hovering around 100, 102. Tricky to make currencies in the market at the moment. Head oftunately he is strategy at hsbc security. The Vice President ial debate takes place in just a few hours. Can a candidate on the lower half of the ticket draw attention to make enough of an impact . Matt it is the Vice President ial candidates turn tonight in the spotlight. Andcrat tim kaine republican mike pence faceoff in a debate at Longwood Univer