Inked a deal. Analysts say it could be worth billions of dollars annually. Red card for fifa for blatter and platini after an ethics probe into past payments. All right. And mentioning whats taking place from within fifa, seth blatter now expected to kick off a News Conference any minute now. Weve got some live pictures coming through from there. The conference arena. Thats taking place in zurich. Well bring you that live when it begins. Just glancing at the u. S. Futures, still a couple of hours away, but were being called a little bit higher on the open this morning following on for a pretty sharp selloff on friday. The dow suffering significantly on fridays trade with a bit of unwinding from some previous gains that otherwise had been made. Here in europe, of course, this morning were looking at just some slight gains on the stoxx europe 600. Our main European Equity markets also, indeed, reflecting this as we head into the shortened holiday week with christmas upon us. Ftse up by. 7 of a percent. Cac 40 higher. The ibex not quite making it up. Xetra dax up 1. 5 . The spanish electioning took place over the week end. Fixed income markets . Yeah, thats also reflected in the spanish ten year. We saw that rising to a onemonth high. Currently at 1. 79. The yield for the spanish ten year is now higher than the italian ten year. That hasnt always been the case over the past year or so. Thats quite a market shift. The ten year german yield is a tad higher. The ten year european yield, up a bit. More selling in the oil space. Wti crude down by another 0. 8 . Brent crude making history overnight. 36. 56 is where we are. Overnight in the asian trading session what we saw is brent crude actually hitting the lowest levels in almost 11 years falling below the crucial 36. 20 level. That is the financial crisis low of 2008. So do keep an eye on those levels but were back above the 36. 20 level once again. Also, quick check of the currency markets. Were just talking about the spanish election outcome which showed a lot of uncertainty in the equity markets and the 3w07bd markets but not so much in the euro dollar here. The euro is holding up relatively well, 1. 0854. The dollar is up against the japanese yen up by 0. 2 . Off the two week highs that we saw last week. Carolyn, thank you. Lets continue that discussion. We have the head of Market Strategy at swiss core bank. Happy holidays. To you as well. Thanks for coming in to spend this monday with us. Lets talk a little bit about the big drop in the price of oil. 11year low for brent. Thats pretty significant. Nymex shy. I think commodities are telling the story right now. The first thing were seeing is less technical trading, real fundamental. The weather situation in, you know, europe and the u. S. Has been significantly more mild than expected. Were seeing production now reaching levels where storage capacities can no longer handle it. Were seeing the expectation for, you know, demand to come down as well. So all of these stories have toind put more and more pressure on oil prices. I think thats really what people are starting to concern themselves with is this is just a structural weakness with oil or is this an indication for Global Demand moving forward. This is a story starting to show itself in 2015. Are we going to see the euro dollar going lower . We recovered from recent lows, 105, 108. After weve had lift off from the fed, is next year going to mean free selling from the fed . Easy trade is continuing to see strong dollar. The expectations for Dollar Strength against euro i think should be really reconsidered. One of the weve got the fed tightening although it was quite dovish. The expectation was for the ecb to go with some significant easing as well and what we saw is probably a hawkish version of easing, if you can imagine. Were seeing decent numbers from the european economy. This week the german ifo should come up better than expected. Put us on track 1. 75 for gdp in europe. Thats a good number. The disinflationary pressures are still in place. Probably not to the level that will cause the ecb to ease more. Without that ecb story coming into play, that dollar that euro dollar sort of lower story starts to fizzle out a little bit. I think we saw a lot of the strength of dollar already show itself in 2015. Just on that point, how much conviction is there in that dollar trend going into 2016 . Im looking at cft saying that the dollar fell the lowest in early november. Yet you cant go against the dollar at this point, or at least the fed is expecting four more hikes next year. Yeah. How do you want to be positioned, pretty neutrally . I think so. The path of least resistance is the strong dollar trade. As you said, were not seeing the significant steepening of the yield curve. People are not saying, okay, that fed is going to trigger off a much steeper dot path and, therefore, you know, we need to pile into the dollar. Most of what were seeing right now is a ho hum saying, okay, the fed dots are significantly above the market expectation which is more fruition . And a lot of people are saying the market is correct and, therefore, were more likely to see two or three rate hikes than, per se, four. It means the expectations for a stronger dollar should be taken. Can the story for 2016 really be the yuan . The last 11 trading days the pboc if i canning down the yuan rate. They didnt do that overnight. More devaluation in 2016 . We take a slightly more hawkish view on china to be honest. I think the market is underestimating the amount of stimulus that the pboc and policy makers have put forward. In fact, recently in august per se they loosened up the rights for regional banks to issue debt and now were starting to see the returns of that as, you know, the Economic Data starts coming back into china. I think given the size of the stimulus packages put forward we should see china come back a little bit stronger in line and that to me means less of a devaluation in the yuan. Peter, thank you very much. Happy holidays to you and your family. Peter from swiss corp bank. Were getting pictures that the fifa president seth blatter starting to give the press conference after 9 rulithe ruli ban him from fifa for eight years. Whats created by the great humanist nelson mandela. I just received it seems the quality is just a tad bit poor on from that press conference, but well keep our eye on whats being said as blatter speaks on this fifa ban. And still to come on the show before we go for a quick break, after star wars raked in over half a billion in worldwide sales in its first five days, which u. S. Politician has the force on their mind . Join us after this. These are the headlines. Crude continues its slide with brent hitting lows not seen since 2004. Ericsson and apple settled their patton differences and signed a new license agreement. Fifa banned seth blatter and plantini for eight years. Everybody, welcome back. You can see here live in zurich a press conference is taking place. The fifa president , seth blatter, is speaking there following a ruling to ban blatter from football for eight years. In the last couple of minutes hes been saying, im very sorry. Im sorry for football. He talked about how hes sorry that hes a Punching Ball as the president for fifa. He says, im sorry for the football association, for everybody involved. Im sorry for me, how im treated in this world. That was a quote. And he was also saying that hes still an optomist, but hes giving a very broad apology. Is it really an apology though . Because to me it seemed incredibly defiant. Has he testified for any of the wrongdoings . I would agree with you in terms of the tone. Lets just listen in. Apology has just improved a bit. Lets listen in. We pay you part and then later. But what astonish me now if i am going to the decision of this Adjudicatory Chamber today, it is a summary decision but, still, is that they deny, they deny the existence of such an agreement and this agreement was indirectly or directly confirmed by two meetings of the ufr executive committee, the one in sweden and the other one in 1998 and here in zurich it was an International Executive meeting because the next day we had fifa executive meeting. There are people that spoke they spoke about can you imagine the europeans . They liked latinia because he was supporting me. They dont like me because the took the presidency on the eighth of january 8th of june. They say can you imagine this is written down, can you imagine that platini is going to vote for fifa for 1 million and he never devalue. This plantini is nothing because he will be paid 1 million. They have confirmed the discussion and also one of the man from france who is actually the chair of the organizing committee for europe euro 2016, he could recollect this discussion. So, therefore, we have we have to prove or be proved that this was not only known by platini and me and, therefore, this agreement existed. Now this Regulatory Chamber has denied that it existed and therefore the 2 million the 2 million swiss franks that by which was then by letter from platini to me or to the finance department of fifa that we said this is due to platini and it was paid to platini, it went through the finance committee and then through to the executive committee, to the fifa chrome t control committee and to congress, it was registered and done in good terms. As this contract oral contract never existed, this is a donation. This is a gift. They have they have avoided corruption because they took it out at the beginning of the meeting but, still, that i have given this money to platini to buy ufr, to buy the votes for the fifa 2011. Okay. Just to give you a little background on this. The suspension for eight years for mr. Platini and mr. Blatter, this is not a lifetime ban. This is the only good news for the two gentlemen. Theyve been suspended since october while the ethics investigation was carried out into a 2 million swiss payment that was made to platini back in 2011 with blatters approval. This is what all this investigation is about. But once again, mr. Blatter this morning has been incredibly defiant. He did say sorry a number of times. He didnt apologize for any wrongdoing. Sorry for how fifas employees are being treated. He said hes still an optomist and theyre widely expected to appeal the decision. He sounds angry. Yeah. Sounds angry and a bit defiant. He sounds irritated, just the actual tone of the press conference. Remember, this is a very, very wide ranging investigation thats been going on for a long time now. Something like 27 current or former soccer officials, including eight former Fifa Executive Committee members and the current heads of the north and south american federations are all being investigated over allegations that they ran these bribery schemes connected to the sale of Television Rights for these soccer competitions. Its a wideranging probe with the two heads very much there. But i think even if he had been cleared by the ethics committee, again, the punishment isnt the worst, if he had been cleared, his position would not have been tenable yes. Because so much has gone down. Theres been so many wrongdoings, whether it was a part of him or on the part of other people, officials at fifa. Yes. So what is needed is a clear, clean sweep of fifa. Let us know what you think. You can find us on email, worldwide cnbc. Com. Find us on twitter carolyncnbc. Now shkreli tells the wall street journal that hes being targeted for his drug hikes and top persona. While hes unapologetic about raising the price of an aids drug, he said he should have been more patient and less inflammatory in explaining himself. The head of wall streets big bond desk, jpmorgans jim casey tells the wall street journal says he does not believe the market is still in a bubble and theres good money to be made. He still thinks there will be sizeable losses in the short term. Jpmorgan has the issuance of high yield bonds to drop about 6 next year. The bank has underwritten 30 billion in deals this year, more than any other firm. You would think hes talking his own book in a way. Someone else who might be talking their own book, Star Wars Franchise or the star wars family. I mean, itss amazing. The force is strong. Star wars the force awakens shatters box office with 517 Million Worldwide this weekend alone. It had the biggest opening in Hollywood History with 238 million in the u. S. And canada. They set records in the u. K. , australia, russia. Disney which bought lucas film, theyre planning four more films, very smart. Theyre cashing in on this while they can. Reuters breaking news, they estimate the company is on track to triple their 4 billion investment. The star wars mania even extended to the world of u. S. Politics this past week. Okay, everybody. Ive got to get to star wars. If you will join me in this campaign, we will make that a mission. Thank you. Good night. And may be the force be with you. Also another way of cashing in on something everybody loves, flight. Yeah. Have you seen it . No, i havent. Never seen any of them. Neither have i. Neither have i. I dont think lindsay has, either. Very few of us. We must be the only three people in the world to see it. I dont know if well get around it. No. Maybe star wars 18. Maybe. Were going to go for a quick break. The silicon rally. We take a look at the European Tech scene with the head of india at silicon rally. Thats coming up after the short break. U. K. Finntech leaders see europe as the best place for growth and expansion in 2016. Only 20 of the fintech bosses think the u. S. Will be the strongest market in 2016. Phil cox has joined us around the desk. Thank you so much for coming in today. Really interesting survey. I wonder what it is. What are tthe herdlesthe hurd us going . Fin tech covers many industry sectors. Theres so much opportunity in the u. K. And europe that going to the u. S. For these businesses and being regulated at a state level by 50 states makes it pretty complicated as well. When you talk about fintech, theres no way around talking about valuations and valuations have been sky high. A lot much people telling us recently that its become such a crowded market. Its driving the changes that we see from within the Financial Spectrum . I think the Financial Services generally in the u. K. And across europe when we had the crash of the banks i feel like in 07 and 08, i think it kind of opened the door while those banks were focused on their own businesses for these new businesses to be created, but theres software for banks and Insurance Companies to use, theres marketplace lenders, there are payment companies. So its starting to be really pervasive across the broader services industry. Is there something across the industry of fintech that you think is more pervasive. When i think back to the Telecom Space before apps were around, there was all the talk about the operator. Then it switched into the actual software that was on the phones, then it switched to apps. Are we seeing the same type of movement in fintech . Those that will survive are those that can solve bigger problems. Also to streamline their back Office Operations and to, you know, lower the cost space of doing business with their customers as well. So the secret for me is they really solve big problems and theyre really attracted to large organizations. Finally, its been such a poor year for ipos especially in the tech space. 2016 going to look any better . Yeah, i think potentially as we go through the year. There is still a lot of money in the private sector. If you take the corporate investing as well as Venture Capital and private money going into the businesses, theres still strongly qukw liquidity. Phil cox head of mia at Silicon Valley bank. After star wars raked in over half a billion in worldwide sales in its first five days, which u. S. Politician has the force on their mind . Join us after the short break. Looking for 24 7 digestive support . Try align for a nonstop, sweettreatgoodness holdontoyourtiara, kindofday. Live 24 7 with 24 7 digestive support. Try align, the undisputed 1 ge recommended probiotic. The Ruling Party Wins the election. Opening up the possibility of a Left Wing Coalition taking power. Ericsson shares jumping as they cheer that theyve inked a settlement with apple over licensing rights. It hasnt been revealed. Analysts say it could be worth billions. Battling blatter, suspended fifa president says he will fight the ban saying he is sorry for how he is being treated. Hi, everybody. Welcome back if youre just joining us, thank you very much for being with us today. We are here with a shortened holiday week. Christmas is coming. Geese are getting fat. This is how the markets are faring this morning. In the u. S. Were being called a little bit higher as well. The implied open seen on the righthand side of your screen. The dow being called up by 132, 133 points. Quite a selloff. A sharp selloff in futures heading into the session. European markets its said mostly in positive territory. Spain off by almost 2 on the back of the elections taking place yesterday. Neither Prime Ministers conservatives nor the left wing parties have a clear mandate to govern. Were looking at perhaps a messy period ahead as a Coalition Government is attempted to be formed. The oil route is intensified. Brent crude hitting its lowest level in a decade. Brent futures heading down towards 36 per barrel. The lowest level since december of 2004. Wti crude holding on to right around 34, 35 a barrel as well. Yeah. We broke through that 36. 20 level earlier on this morning in asian trade. We have recovered quite a bit from brent crude. That was the 2008 low. So we did actually reach 11year lows for brent crude. Lets get back to spain. Spains Political Party set to continue the complex party after they failed to deliver a clear verdict. They won a narrow victory but fell short of the 176 seats for a majority. Lets go back out to julia in madrid. Jules. Reporter thanks so much, carolyn. After four years of austerity, they lost the election. We saw a strong showing by the far left podemis party which is fueling some of the uncertainty. We saw the tw