welcome to "street signs." i'm willem marx. these are your headlines treasury yields jump to the highest level since 2011 and pulling up rates on german bunds. i tatalian deputy prime minister mateo salvini says there will be no backtracking on the debt target. and bank of finland governor ollie raines says he wants to stick to commitments and praise

the rules as he looks at the ecb's forward guidance. and danish authorities order danske bank to reassess its capital levels let's look at the european markets. a lot of red on that board the stoxx 600 down almost half of a percent at this stage of the morning. let's hone in on the individual markets. all four of the major indices in europe are in negative territory. the ftse 100 is down more than a half percent the xetra dax is down a third of a percent. the cac 40 is down 0.66% the ftse mib in italy down 0.40%. let's check in on the sectors across the continent

oil and gas is up 0.62%. household goods down almost 2% at this stage. utilities down 1.5%. the italian deputy prime minister, mateo salvini, said the ruling coalition will not backtrack on the spending target even if the spread between italian and bond yields hits 400 basis points the ftse mib already down. some of those stocks performing well compared to this stage yesterday. the italian government vowed to reduce deficit targets in the coming years public spending would fall to 2.1% of gdp in 2020 from 2.4%. and 1.8% in 2021

annette is in helsinki this morning and had an interesting conversation tell us more about it. >> exactly i'm here at the bank of finland, and i sat down with the governor of the bank of finland and we also were talking about the italian problem currently, or the italian situation, he made pretty clear in his comments that the ecb does not stand ready to intervene in the bond markets in order to bring yields down in case they were to rise further. because clearly italy is a single problem and it is clearly in the hands of those politicians in the country to actually get the situation resolved and to reassure the markets that they are on a good track. so as i was saying, i sat down with him and i was talking about italy and whether the ecb is ready to jump in listen to what he said. >> well, the european central

bank takes this situation on the basis of the economic developments, especially the price stability objective in the euro area in its entirety as a whole. and regards the future path of discussions on the italian public finances, that's something for the european commission and the euro group. in other words, the other euro area member states together with italy to deal with this challenge on the basis of the revised rules of economic governance of the european union. >> let's stay with the bond markets. overnight we had another surge in yields in the united states how concerned are you as a central bank governor in the eurozone that this could lead to an unwanted tightening in the eurozone as well because people think, okay, they

ditch eurozone bonds in favor of the states bashgs yecause it gi more yield >> the key issue is how we can in a sustained manner achieve the price stability target of the ecb, which is below but close to a period. that is what we can achieve in the medium term in a sustained m manner >> arethere are a couple of headwinds here now that weren't here in 2017 how do you feel about the growth outlook of the eurozone? >> the growth outlook remains strong, positive, so our focus by the bank of englafinland is , and more subdued growth in the coming two years

assuming that the political uncertainties in the global economy, in the global politics will not derail the ongoing economic recovery in europe. >> mario draghi was just saying, i think, in front of the european parliament that he sees a vigorous pick up in underlying inflation. so is that a term which kind of prepares us for better than expected inflation data? >> the inflation data is, of course, a key parameter of decisionmaking in the european central bank and its governing counc council. as far as the bank of finland are concerned, we are estimating there is, indeed, strengthening of or increase of basic growth in central europe.

for instance, in germany or particularly in germany, and that is giving some indication that we might have a stronger core inflation also in the future at the same time the jury is still out, we are following data very carefully and analyzing whether there is a sustained increase in wage growth in the euro area in its entirety. >> investors move very quick so what the market is really wanting to have is more idea about the future interest rate path for now the ecb is still refraining from it would you say it's a good idea to have another enhanced forward guidance on the interest rate path beyond the summer of next year >> i think the forward guidance of the ecb for now has worked

well, and the indication is that the market expectations, in fact, are in line with the ecb's forward guidance which is that the policy rates will stay at their present levels through the summer of 2019 as for the future, i'm open for discussion there's been various options either to continue in the way we have done up until now to lean rather wrat and explain further our monetary policy or go beyond that and indicate more precise path of interest rates i think the latter has certain pitfalls meanwhile the further clarification of our reaction function in monetary policy

might have certain merits. might have a strengthening effect of our forward guidance >> so, it will be a very challenging year for the ecb i don't really remember who said it, but i recently read a comment that everybody can expand monetary policy, but only the savvy monetary policy politicians can reduce the stimulus from monetary policy without some sort of tapering scenario in the market, without problems, and without unforeseen volatility next year will also be a year of tremendous changes in terms of top jobs at the ecb. last but not least it's mario draghi's job as we all know, and there are many contenders. olly rehn is one of the names floating around as a potential

successor to mario draghi. so i asked him whether he would be interested. >> mario draghi will leave big shoes to anybody , he has done great job as president of the european central bank. i only hope that the person who will be appointed to that post will have a very strong professional competence and a broad trust across the euro area >> so whatever happens, it will be also a political sort of horse trading going on behind the scenes who is getting that top job. clearly the commission job is also up. and angela merkel is said to favor a german at the position at the head of the commission. that also means that jans wideman, who was deemed an

appropriate contender for the top job at the ecb, his chances are seen as less likely now. but the race is on we don't know yet. and mario draghi's term is up in october next year. back to you, willem. >> annette, thank you so much for that nick cunis joins u amsterdam. you were probably hearing about some of that, about the race to succeed mario draghi does it matter who takes over the ecb in terms of policy, do you think? >> i think it does we know someone like jans wideman has different views about monetary policy for instance than the current ecb president. i think that if jans wideman had been strength over the last few

years, economic history in the eurozone would probably look very different i think it is quite crucial. >> let's talk about something more near-term the plan of the ecb right now is to end net purchases this december subject to uncoming data inflation numbers being met is there anything that you think that could derail that >> no, i don't i think that's almost certainly going to happen. i think we would need extraordinary events or extraordinary economic data points to prevent the ecb from ending net asset purchases at the end of the year. but still what we know from the ecb's forward guidance is that the further normalization of monetary policy after that is likely to be a very, very slow process. what about tra

what about trade disputes and increased volatility in italian bonds is that continuing to "gain more prominence" to use mario draghi's formulation >> i think for the ecb what matters is whether these kinds of developments significantly or aggressively tighten financial conditions for the eurozone economy as a whole up until now neither trade disputes nor developments in italy have done that so it would really need to become more systemic, we would need to see much more contagion for it to be a monetary policy issue for the ecb. >> do you think that statements from italian politicians in rome has an impact on confidence in the eurozone

>> that remains to be seen whether what's going on will start to affect the business confidence it's too early to say. i doubt in terms of what's happened at this stage that it will and in addition, if you look at the degree of contagion from what's happening in italy to other bond markets in the eurozone, and to other markets more generally, up until now it's been quite restrained and, you know, the picture is far different from what we saw, of course, during the euro crisis where, you know, the contagion was large and financial conditions tightened for the eurozone as a whole and as a result we saw confidence plummeting and we saw a significant eurozone downturn.

you know, developments so far do not point in that direction. >> one final question then on the ecb before we move on. what do you predict in terms of timing for the next hike and what are you basing that prediction on in terms of assumptions? >> well, we expect the first hike to be in december 2019, which is later than markets are currently pricing, later than consensus. and if anything we think the risks are skewed towards later and that's based very much on the view that inflationary pressures in the eurozone are still weak, there's still slack in labor markets, and it will take quite some time for inflation, underlying inflation to pick up we think that it will pick up more slowly than the ecb currently expects. >> nick, don't go anywhere do stay with us.

just to stick on the subject of banks in europe, danske bank discontinued its share buyback plan for 2018 and is reassessing its solvency needs the danish regulator demanded this move to ensure the lender has adequate capital to cover compliance and reputational risks. and swedbank says it has a zero tolerance policy against money laundering this after a report suggested that swed bank and seb had more than $$1 trillion of funds flow through estonia in 2017 and 2018 swed bank said there are no ongoing investigations into the lender if you want to get in touch, we are @streetsignscnbc up next, treasury yields surge as fed chairman jerome powell gives an upbeat outlook for the u.s. economy we'll discuss this in detail

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treasury yields surged to their highest level in seven years and the dollar strengthened after jerome powell reiterated more rate hikes are coming he told an audience in washington, d.c. that the u.s. economy will expand for quite some time thanks to what he called the remarkably positive set of circumstances he also acknowledged that the fed is ready to hike above the neutral rate. chicago fed president charles evans echoed powell's comments in an interview yesterday with cnbc. >> the itseu.s. economy is doin extremely well labor market is doing terrific payroll employment has been over 200,000 per month for many months which is really, really a good showing inflation is up to 2%. i spent quite a long time indicating that i think inflation needs to get up to 2%, here we are. so i think things are going very well this is something that can be continued for a number of

years. i think by setting the policy rate just a little bit above neutral that will continue to keep things going for quite some time that was charles evans clevelandal from president loretta mester said the u.s. jumps in bond yields is not immediately concerning she said yesterday's spike was just a one-day move in a volatile market but did acknowledge the risk that the u.s. is diverging from other global economies the yield on the 30-year treasury crossed that pivotal level outlined by jeffrey gundlach last month gundlach warned on twitter that yields were on the march again. he said if the markets closed with the 30-year yield above 3.2% on two separate days that would be a "game changer." so watch out for that. nick is still with us. nick, powell's probably talking about this rosy scenario, this period of economic expansion in

the united states lasting for quite some time. what could bring it to an end in your view? >> i think one is monetary policy we do think that the interest rates will move above neutral and will start to become restrictive for the economy. the other is the fading of fiscal stimulus. the bigger impact of the fiscal stimulus, which we think will start to fade around the middle of next year so that combination of tightening monetary policy and the fading of the fiscal stimulus will probably lead to a u.s. economic slowdown in the second half of next year so, we think that the favorable economic conditions will last for a few mormons, but certainly not a few more years >> what about christirist chrise

she said there were signs that u.s. gdp growth was beginning to flatten out. do you think she's right in hery storm clouds on the horizon are starting to thicken up >> well, there is very little evidence that trade wars are affecting the u.s. economy business confidence remains sky high consumers are still optimistic we don't see any evidence of that in the economic activity indicators so ment holds up and as well investors seem to be not too bothered bir y it, financial conditions remain relatively available fveil favoe don't see this having a big impact in the near-term. of course it's a downside risk

but for now the u.s. economy does not show signs of being negatively affected by it. >> yet we've seen these higher treasury yields over the last 24 hours in particular. is that a sign that investors are somewhere deep inside their hearts getting a bit nervous >> i think that's mainly to do with monetary policy rather than trade wars i think financial markets are pricing in more of the rate hike cycle that the fed itself has been communicating for some time i actually think that we are quite close, if not already there, in terms of pricing in the likely path of fed rate hikes. and as such we think that treasury yields are probably around or close to their peak levels >> so yesterday's spike just as

loretta mester seems to indicate, just market volatility even though it's the highest in seven years? >> i think so. if you lookover the last two, three rate height cycles, treasury yields have never peaked substantially above the ultimate peak in the fed funds rate we think that's going to be, you know, around three, a bit above three. so we don't see that much scope. though inflationary pressures have built up, we are not talking about runaway inflation here we're talking about inflation around the fed's target. so we don't see big drivers for further substantial rises in treasury yields from here. >> nick, thank you very much for joining us appreciate your time over the last half hour he was talking to us there from amsterdam. when powell speaks markets seem to listen jpmorgan says the fed chair's

remarks this year alone have cost the stock market 1$1.5 trillion head to cnbc.com for more details on that story. to bring you news out of the white house, looks like the spokesperson for the white house, unnamed at this stage, is saying that the fbi supplemental background investigation into judge kavanaugh has been received by the white house. they will be sending it on to the senate this morning. nbc news reporting earlier that the senators involved in that judiciary committee will be having a look at it over the course of the morning starting with chuck grassley followed by dianne feinstein. and norsk hydro shares is trading layer after brazil is preparing for a full shutdown. the refinery was operating at 50% capacity since march coming up on this program, italian stocks open in the red as deputy prime minister mateo

salvini says there will be no backtracking on the deficit target we'll speak with an mp from the pd party, massimo ungaro after this break - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

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welcome back to "street signs. i'm willem marx. these are your headlines treasury yields jump to the highest level since 2011 and pulling up rates on german bu buns bunds as invests bet on jerome powell's positive outlook. italian deputy prime minister mateo salvini says there will be no backtracking on the deaf tig deficit target. and bank of finland governor olli rehn says he wants to

stick to commitments and praise the rules as he looks at the ecb's forward guidance. >> the forward guidance has worked well. the indication of this is the market expectations are in line with the ecb's forward guidance. and danske bank scraps its share buyback scheme as danish authorities order the scandal-plagued financial to reassess its capital levels. so far the major european markets are all trading negatively the ftse 1 0 down more than 0.83 the xetra dax down 0.h47 the cac down 0.84. and the ftse mib down 0.60 let's look at currency markets

the euro is a tenth of a percent stronger the pound is trading a quarter percent stronger against the dollar the dollar seems to be the weak link here. it's trading weaker against the yen and the swiss franc so far this morning let's check in on the american markets ahead of their open. you see a bit of a negative start to the day being implied the s&p 500 called down almost 10 points. the dow jones more than 100 points the nasdaq looking to open down around 24 1/2 points back to italy, where the deputy prime minister has said this morning that the ruling coalition will not backtrack on its spending targets, even if the spread between italian and german bond yields hits 400 basis points the italian government promised overnight to reduce its deficit targets for the next few years giuseppe conte confirmed a budget deficit of 2.4% of gdp

for 2019 but said that could fall to 2.1% in 2020 and 1.8% in 2021 that's different from the message we got last week that the 2.4 number would continue for three years. italy's european affairs minister said the country is not at risk of a default he told italian mps that italy is not like greece and urged the eu to change its monetary policy jean-claude juncker earlier this week warned that italy could cause a financial crisis in the same way that greece had done several years ago. we're joined by massimo ungaro thanks for joining us. is this lack of message discipline from senior italian politicians in the coalition a problem, do you think? >> good morning to you

yes, for sure the declarations by some senior politicians have been a problem for our camp. most importantly we would like to have a bit more clarity on the plans, because the government announced the deficit targets, but no document has landed yet in the parliament so for now we are just commenting on the declarations without having a document to work on. >> if i understand it correctly, i was there in rome last week, it's a week late it's a week behind schedule. it's a significant part of your oversight role as a parliament as to how the government intends to spend money and growth assumptions seem to be missing from the declaration so far is there anything you can do as an opposition lawmaker to get this information out of the government >> that's correct. the document by law should have been done on 27th of september, instead we got some declarations, and nothing has arrived yet.

supposedly it should arrive at 1:00 p.m. today, and then be voted on the 15th of october we don't know the details. and as the opposition we're trying to explain to our fellow italians, but the majority are divided. >> for viewers who may not know, you come from a finance background, you're relatively new to the political scene in italy. have you been shocked by the cavalier attitude of some senior members of this government coalition when it comes to spending plans or do you understand they're just trying to appeal to disaffected italians who may have voted for them during the march elections? >> absolutely. i understand this is led more by people dedicated to communications than to people who are experts in political contentions.

>> do you think there's anyone, whether it's giuseppe conte, goo van giovanni tria, that the more they make these comments at variance with one another, the more markets get concerned and the more expensive it gets for the italian state to borrow money? is there anyone that explain that to these men? >> i think they are slowly getting the message, but it only also shows us the level of organization that this government has when it comes to economic policies. >> we're seeing the markets, the bond market in italy driven very, very quickly by comments coming from politicians. in your view, from an investor

perspective, who should people listen to and who should they tune out when it comes to these comments >> people should look, i think, at what the actual documents are. there is a lot of -- seems to be in permanent electoral campaign mode elections are coming up. the coalition could great because of the two main parties are not aligned. i would -- my advice to investors is to look at the details of the documents once they land. it's one thing declaring an announcement, it's another thing to have loans that are getting to parliament. >> one final question for you. i saw mr. tria earlier this week both he and his staff member looked frazzled and exhausted. do you think he's going to be able to maintain credibility internationally based on what's

going on at rome in the moment do you think he'll want to stay in the job or be able to stay in this job for a significant period of time >> really the most important question which i'm not able to answer for sure the reputation was massively damaged last week, and this is a key question which i don't know how to answer i just hope he will be able to resist for now otherwise, you know, we will have the consequences. >> massimo ungaro, thank you so much ireland has backed britain's proposal for an all-uk customs union with the eu if no agreement is reached about the irish border issue that's according to "the financial times. the paper reports that irish officials believe the british would resolve the impasse. this could help theresa may ahead of this month's european

summit, but michel barnier has already rejected that idea >> apparently having the time of her life ♪ >> well, may danced her way on to the stage at the conservative party conference yesterday and urged party members to back her government's efforts to secure a brexit deal. shesisted the uk was not afraid of a no-deal. may also announced that britain was nearing the end of austerity. >> because you made sacrifice there's are better days ahead. when we secured a good brexit deal for britain at the spending review next year we will set out our approach for the future. debt as a share of the economy will continue to go down support for public services will go up. because a decade after the financial crash people need to know that the austerity it led

to is over >> those who have been watching this program since its beginning at 9:00 a.m. london time know annette sat down with olli rehn. she asked him to gauge the risks posed by ongoing brexit talks. >> brexit is a big economic and political problem, especially for the united kingdom to some extent also for the rest of europe. but the essential thing is that the uk could now finally come up with a clearer negotiating position which takes into account the four freedoms of the european union and is comfortable with the eu treaty one political consideration is that there should be no new borders between the republic of ireland and the united kingdom,

and we've seen some quite recent proposals that go to this trek shun i think it's now up to the eyew negotiati -- eu negotiations to look at these proposals, whether they resect the spirit of the good friday agreement which greatly helped social peace in ireland, which is actually at the core of the discussions in the uk and between the uk and the european union. >> oil prices are trading lower this morning after reuters reported that russia and saudi arabia have agreed to raise output you can see there brent is down more than 0.10%. the news agency reports that the two countries struck a private agreement in september and informed the u.s. before meeting with other producers meeting last month in algiers. riyadh and moscow plan to boost

outpet fr output from september to december >> translator: president trump believes oil prices are high i think that he's partly correct. but we would be happy with 65, 70, $75 per barrel let us be frank, these oil processes are primarily the result of actions of the current u.s. administration, such as expectations of sanctions against iran. cnbc spoke to saudi arabia's energy minister last month and asked for his response to trump's accusation that opec is only interested in higher oil prices >> that is not true. we have been looking at more important aspects which is

adequacy of supply i think member countries, for example, over the last three months, since june, have responded in a very good way, and have opened the taps, provide a lot of supplied to offset decreases in iran, decreases in venezuela, decreases in mexico. and markets are quite balanced today. there's plenty of supply to meet any customer that needs it what do you think about trump's oil price complaints get in touch on twitte twitter, @streetsignscnbc and you can also tweet me directly coming up, the biggest event in the global arts calendar kicks off tomorrow in london we'll hear more about this massive marketplace and how to navigate it after this break

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welcome back to "street signs. shares in both toyota and soft bank are trading higher after the companies signed a joint agreement to develop new

transport services the partnership will start with 17$17.5 million in capital the joint venture will work on developing technology for self-driving vehicles and car shares services. honda is spending 2.$2.75 billion for a 6% stake in general motors self-driving vehicles known as cruise it's worth noting that softbank group has also made a multibillion dollar investment in cruise, an indication of how competitive that sector is getting. two more influential voices have added opposition to the unilever headquarter shift pensions and investment research consultants came out against the pitch. i spoke to paul pullman back in july and asked how shareholders at the time were taking the proposals. >> of our shareholders understand why we do this, to

make this company more competitive, agile, to participate on an equal basis in future transactions, increasingly our invests also understand we're moving to a better corporate governance structure, one share, one vote, corporate governance dand stast, the best in the world. so broadly our investor base understands what we're doing, and broadly our investor base is supportive unfortunately there are index investors in the uk and in an independent body that have decided though we are traded in the uk and you can continue to buy our shares, we're not in that area. so you will get some dissatisfaction from these index buyers >> julia tatelbaum has been

following this that was two months ago, everything is fine, there's no problems with this, now quite a few seem to have a problem with this has anything changed >> we've seen momentum building among this uk shareholder base, this is in the lead up to the october 25th two-day egm where shareholders will be asked to vote on the move to the netherlands. so investors are trying to get their voice out there and drum up more support for their position against the move. and to remain you what they're focusing on in terms of pushing back against this is the fact that should this proceed, then the stock will drop out of the ftse that means that passive index money that follows the ftse will come out and some active money as well. this is the chief concern around the move from uk investors in addition there's uncertainty around the dutch withholding tax on dividends the company vowed to protect uk investors but it's unclear, nothing is set in stone on that front.

unilever and analysts continue to stress this is a move that would create significant shareholder value, cut costs, strengthen corporate governance, so plenty of things to support this move, but uk shareholders seem not to be on board yet. >> in a sense, what's so interesting about this is their opposition to this move is grounded in a complimentary view of the company they want to hold on to their shares in the firm because they see it having bright prospects, and they're not thrilled about the idea that they will lose out on that potential upside in the future because of the delisting. >> it's a great point and it's fairly unique to unilever. their shareholders have been extremely loyal. many of the ones speaking out have been shareholders for years. unilever is focused on the long-term, on sustainability, on lots of goals that shareholders embrace and endorse. it's a great point it's something that has served them well in the past, fending

off the kraft heinz bid last year it is a difficult position they're in now to sort of be pushing these shareholders who have been so supportive away from them. >> just looking ahead to that meeting, any indication as to where the numbers stand? >> this morning i saw a number from the "the financial times" about 12% of uk shareholders have publicly spoken out against the deal to remind you of the levels they need, they need 75% of uk shoulders in favor of it, 50% of debt shareholders. >> thank you very much for joining us thebiggest event in the global arts calendar kicks off tomorrow in london when freeze takes over regents park for four days hundreds of galleries will showcase their latest wares. up to 70,000 people are expected to attend. the art market has grown substantially over the years and

with it the advisory departments for buyers tom, i have to ask you, london is a massive center for the art world. how big of a hometown is it for art buyers are a lot of people coming from overseas to buy their art here >> london is the third largest art market in the world after the u.s. and china that's an extraordinary wealth base here concentrated around the auction businesses here. so it's a huge place to buy art. and, you know, we're lucky to be here >> is it british buyers coming here buyers from the u.s. i would like to know about the geographic demographic of the high-end art buyer this >> this is globally a group of high net worth individuals who have multiple bases around the world, one of which is london, one of which is new york as

well they're not particularly british per se the number of british high-end buy sers lo buyers is low. we're talking about americans, chinese. >> do you see that distribution geographically changing over the last few years has it changed significantly are there more chinese buyers over the last decade >> the last decade has been characterized by an immense generalization of global wealth in usa and china i think in the art market what the number one phenomenon we're experiencing is the growth of the chinese buyer interested in western art for the first time that's a major driver for the art market one reason why we're seeing these enormous prices. we are living in a world where you can spend a half billion dollars on a single piece of art. >> one challenge seems to be transparency i want to ask you about that every week it feels like a story appears in the media somewhere in the world of a valuable piece of art with questionable providence and there's a dispute

arising in court about that. obviously that is not the entire art market that's representing a small fraction of it what can buyers, your clients do to be sure about what they're buying, who to trust >> that's the big question that's where my company steps in 95% of advice given in the art industry is given from a conlict sh ion. so what you need to do is find somebody to give you independent, unconflicted advice and to interrogate those questions of historical providence, valuation, et cetera >> you made a distinction between high net worth individuals and ultra high net worth individuals. is there a distorted market where so much of the overall art market is valued at the very, very top, there's a huge gulf between the most valuable pieces

of art, the wealthy buyers, and a large section of the rest of the market does that have an impact, you think, on the verification systems? does it mean you shine light on specific top end of the market to the detriment of other places >> i think certainly focus is on the 1% of the sales that contribute roughly 60%, 70% of the value of the art market. so, y there is a focused effort on that part of the market what's happening at the lower end is subject to much less scrutiny it's less important to the ecosystem, at least as far as the commercials are concerned. >> one final question for you. we've seen double digit growth in some areas of the market, expanding significantly since the asset classes people have been interested in when equities have not been performing well. does there come a moment where we hit peak art and things flatten out? >> look, it's very possible. what we couwould say is people

collected art for thousands of years, and we think global wealth patterns are going to continue the way they have been, there may be short-term fluctuations, but in the long-term we're bullish. >> tom, thank you. sounds like you have a busy few days ahead let's look at u.s. futures before we goch all three major indices opening lower. the dow jones down 95 points that's it for today's show in london i'm willem marx. "worldwide exchange" is coming up right now

it is 5:00 a.m. at cnbc. after the first five-day win streak in months, stocks may slide today. the rally could be at risk because of bond yields surging to multi-year highs. yesterday was the biggest move in government debt since donald trump took office. fears of the fed are creeping up. sanctions on iran taking hold in one month. that's why some are saying $100 a barrel oil could be around the corner. battleground florida the sunshine state kicking off its senate contest. and a big book