. ♪ the united states treasury auctioned more than $270 billion of bonds this week. want to highlight the highest level since july 2008. the share for primary dealers was the highest since december. on the corporate side, bonds to help fund the acquisition in the second-largest u.s. corporate bond sale this year. this week, hungary supply stopped junk-bond investors. triple c rated five-year-old they arelding 5% and trading above the issue price. outside of europe, the em crisis in turkey. take a listen. >> this is serious. i do not know that by itself, the central bank of turkey is going to be able to withstand this. >> when you have the administration saying they are going to take over the central bank, this is a country that is facing a lot of uncertainty. >> even in the healthy countries, politics have a way of destroying economic policies. in turkey, politics has a way of making bad economic policies even worse. >> there needs to be more, and i think that is what the market is telling the turkish central bank here. the question is whether they will remain with so

jonathan: mike, the united states treasury came out, it hasn't made a massive difference. rough the idea here to read i guess fundamentally, you look at that spread, you have to ask, not just one question about b.t.p.'s. you have to ask another question about bonds in riyadh which one is more overpriced, bonds or b.t.p.'s? mike: jonathan come i think you just highlighted a big opportunity, just on a relative value basis. looking atu are italian bonds, spanish bonds, compared to u.s. treasuries, u.s. treasury's stand out on a global basis. you wonder how high rates can really go just in terms of relative value and flow of funds. we think there's an opportunity to own treasuries versus boones for instance, and play that compression trade overtime. jonathan: do you agree with that trade, george? you have to fold in the idea that you have some pretty fx hedging costs there, to them. george: you do. those are coming down with the dollar strength here. i do think that right now you're going to see some more flows into the u.s. i think the risk is still with developed market debt.

the united states treasury auctioned more than $270 billion of bonds this week. nt to highlight the two-year auction, 2.95%, the highest level since july 2008. the share for primary dealers was the highest since december. on the corporate side, vodafone selling $11.5 billion of bonds to help fund the acquisition in the second-largest u.s. corporate bond sale this year. this year, a 30-year security yield, 2.15 percentage points on the treasury. $300 million of triple c rated bonds sold, yielding 9% and they are trading above the issue price. outside of europe, the em crisis in turkey. take a listen. >> this is serious. i do not know that, all by itself, the central bank of turkey is going to be able to withstand this. >> when you have the administration saying they are going to take over the central bank, this is a country that is facing a lot of uncertainty. >> even in the healthy countries, politics have a way of destroying good economic policies. in turkey, politics has a way of making bad economic policies even worse. >> there needs to be more, and i think tha

2014 high, and wonder, when you look at the spread over germany when the bond treasury goes beyond 300 cans points, how much wider it get and can the united states and treasury market recover from the rest of the world? it can certainly get wider. it is important to keep an eye on underlying growth spending. this quarter, we have disappointing growth out of europe compared to where we have been. the ecb had to downgrade language. there are transitory things that might be explained, and maybe whether related. it is not coming through in a meaningful way. to quality orhat what is happening on the periphery with italy, it is possible to see the spread widening further. jonathan: your thoughts? luke: that is a problem that is raised, sentiment around italy, although i believe that is in fully -- that is fully priced in. u.s. growth is pronounced at the moment. jonathan: joe, we have had these discussions. a lot of people looking for flatness of the curve. it is a one-off week. what are your thoughts about the direction of that? it was narrow, and surely it gets flatter, and this week it changed. why? my view, it is u.s. undergrowth strong and probab

team are under investigation for russia connections, the gentleman has been sanctioned by the united states treasury department for meddling in the united states election, it raises a lot of questions. >> without a doubt. at best it's a judgment question. and we have to keep in mind, that the white house repeatedly slow walked many sanctions. so i think we're just at the tip of all of this, of understanding all of this. but michael cohen did not come inside the white house. but boy, what were all these corporations paying him for? his company was essential consultants. he talked to the president all the time here. to me that is the most fascinating part of this. he was obviously doing business as he always did, in the shadows as a fixer. but the rules changed once he was elected. >> and the president said he was going to drain the swamp. and even if there's nothing about collusion or elections or this is not connected to anything, michael cohen, $500,000 from columbus nova, $400,000 from novartis, $200,000 from our potential bosses here at cnn, at&t. this is selling influence. i know the president,

high, and i wonder, when you look at the spread over germany when the bund treasury goes beyond 300 basis points, how much wider can it get and can the united statesnd the treasury market really decouple from the rest of the world? diana: it can certainly get wider. i think what is important to keep an eye on is what is going on with underlying european growth and inflation outlook. this quarter, we had disappointing growth out of europe relative to where we have been over the last few quarters. the ecb had to downgrade some of their language around growth. the transitory things, that might be explaining some of that as weather-related, but we are not seeing inflation coming through in a meaningful way. when you add that to quality or what is happening on the periphery with italy, it is possible to see the spread widening further. jonathan: your thoughts? joe: i think that is a very good point that was just raised, a sentiment around italy, although that is fully priced in the market, will bring in those european yields considerably. and differential u.s. growth is pronounced at the moment. jonathan: joe, we have had these discussions multiple tim

to back off because of the fear of and the risk of a huge financial penalties imposed by the united states treasuryit is not going to have that all—inclusive financial positive result that the remaining government was hoping to receive. i rememberjohn kerry saying if you did not get all of the financial deals in place, and they weren't in place even in the heyday of the deal, if you didn't get all the financial deals as far as the banking system went in place with iran, he feared at some point: might say we're not getting enough out of this. so presumably, if your analysis is right, teheran could actually decide this just isn't working for us? absolutely. i think the initial reaction from the average ordinary iranian citizens, andi average ordinary iranian citizens, and i am not talking about the hardliners, the ordinary citizens, middle—class iranians, who wanted to be connected to the global financial system, they have not had the simplest benefits of a well—connected financial system that well—connected financial system that we have in the west, like credit cards and cards that underline payment

the united states. the so-called -- process. this is a process by which the treasury leads and interagency review of foreign investment in the united states for national negative national security implications. it is in a very important piece of legislation work. it is only one piece of the china picture. i know senator rubio and many others have pointed out that china is on the march. whether it is on the trade front or if it comes to getting access to a cutting edge technology that gives them a leapfrog effect in terms of national security and potential threat that poses to us.both economically and from a national security standpoint. i will continue to have a discussion of this. i know sometimes it is easy to conflate the national security and economic concerns. sometimes they do overlap and sometimes they don't. the threat that china poses to the united states and the rest of the world economically, militarily is not something that we can ignore any longer. this i think represents a good first step toward addressing the national security concerns. >> this is a sta

stocks have fallen the most in three weeks here in the united states. treasuries plunging, pushing above the key 3% threshold. that said, strong retail sales data. the fed may raise rates faster than initially thought. susurprise bloomberg's keenan is here. surprised, not surprised? >> it is good news and bad news, the strong economic data fuels the fed will raise rates faster than expected and that caused stocks to selloff a bit. let's go into one of the bloomberg charts, the chart of the day. this is called, better than a coin flip. add that to the fact, the dollar surging. the odds of four hikes this year are better than 50%. with the dollar higher, going into the dollar -- market snapshot, it was negative for many commodity. the focus on that 10 year, which is above that 3% threshold. when you see rate hikes like that, it saps the demand for stocks. let's go into stocks moving in a big way. health care and tech under pressure. nvidia down almost 10%. this was a heavily shorted, recent ipo that did better than expected. took off as some analysts had warned. yvo

the united states? >> the one good thing with u.s. treasury markets, we've got primary dealers.a of a failed auction does not exist because every primary dealer has to put it in there. when the initial market trades at a certain rate, the auction comes in five or seven basis points higher. that would be a shock to the treasury market. we have not seen any signs so far that these auctions are having trouble, but that is because the rest of the world is buying our debt very happily. what worries me is if we are going into this trade war, does the dollar lose its reserve status? we have countries who say, why do we hold reserves in dollars? do we see reduction in foreign demand? i think that can result in a big tail which can move rates higher. >> i think it is a fair assessment. what matters is the end customer buying of treasuries, and levels will adjust to that. primary dealers will set up well in that regard. what is amusing from a longer-term perspective is two or three years ago we were worried about a shortage of safe haven assets in this world, and now we are basically drow

here in the united states, the treasury yield a sickly plunging down yesterday relative to what we'veen so far. i think i would say at first glance it was a bit of an overreaction. by this back we see today we are getting some of that back. gerri: gives you to be thankful for small favors the 10 year yield company to claim it for%. to get back to your point about these two stories and what they are trying push for here. ultimately whatever they want to do on the ground in italy could end up blowing the european union. people saying today's italy were to pull out that would essentially be a knife in the heart of the e.u. and very few words, tell us the impact here for american investors. >> in the short run you can refinance your mortgage. a few days ago that didn't seem possible that the funds were going down. greece has a bunch smaller economy than italy and cause a lot of problems. european countries have been lower debt levels in recent years in italy wants to get off that path. it goes back in the direction of greece because panics a few years ago. the international markets where

drying up because mr trump in a fit of pique withdraws from the agreement now the united states department of the treasury can impose sanctions on third parties on european and chinese and other firms who do business with both the united states and iran if they feel that they are violating u.s. sanctions and so it is a stumbling block but it wouldn't necessarily destroy the deal ok joe is it just a minute we've got left in the shifting jay politics of this week and what is the extent it sounds in israel and now on the same page. not just somebody an israel that's a good idea and most of the world in fact i think that joke what if the speaking the region is going through a dramatic transformation you have now if very serious escalation of the conflict with iran turkey and russia essentially reaching all kinds of agreements and a saudi arabia other gulf countries in general with egypt still a pivotal country in the arab world and. accorded ation with israeli border nation with the united states and major powers on the other side and i think that joke what a deeply speaking what we are seeing now is a dramat

at one :00 this afternoon, the united states treasury sells $25 billion of 10 year notes. at 1:15, the atlanta federal reserve president speaks on the outlook. alix: we are joined by romain bostick and brooks settlement. time for the -- i just said that. let's start off with a big what opsie.- who walmart was going to buy flipkart and then softbank comes in and says, we are going to buy that. >> they very carefully guard these m&a announcements. big what's. -- whoops. it will be interesting to see how walmart handles this. david: it is not the ceo who steal it is. romain: he got excited about all the money he will make. david: he owns a chunk of flipkart and he could not resist the temptation. as soon as walmart gets around to announcing it deal. romain: he will make out pretty well on this and probably wishes he bought more. this will be a good deal for walmart, assuming they will announce it. they have been looking for growth and that is probably the best way to do it. flipkart andwanted then walmart potential he gets it so it sits up an e-commerce deal that puts the figh

the deputyleader secretary of state. and, the secretary of the treasury, steven mnuchin, jared jasonanka trump, statesatt, the united ambassador to italy, lew eisenberg, the assistant secretary of state and the acting assistant secretary of .tate from the legislative branch, we ur senators who have legendary support for israel. cruz, deanham, ted heller, and michael e. thank you for coming. from the house of representatives, a delegation knight,oe wilson, steve ross, jody hice, and scott taylor. and ron desantis zeldin and ron desantis. ron desantis made a case this and it has.me i would also like to welcome a strong advocate for jerusalem, rick scott. in 1995, the jerusalem embassy voted one law and was by both houses of congress and led by joseph lieberman. this law was reaffirmed last 90-0 and itte of joseph lieberman. declared jerusalem as the capital of israel and mandated the move of the embassy. passed long years have since this transfer has become the law of the land, but we now extend the same right we have two other nations, a right to designate the capital city. add,ital city, i should that houses the three seats of

discussion i wonder if using the currency is a better tool >> the united states does not -- the united states does not -- american treasury secretaries have talked this game for 20 years, since bob rubin -- more than 20 years, since bob rubin started the strong dollar mantra of course your currency appreciates, that tens to put pressure on your trade there was always a conflict between the strong dollar mantra and the u.s. position in foreign trade. >> that puts the fed in an interesting position we'll continue this chat in a few moments. richard portus, thank you. get involved in the conversation any views on trade or on trade disputes get involved the address is streetsignseurope@cnbc.com you can tweet me direct directly @cnbcjou or @streetsignscnbc. >>> coming up, pope francis takes aims at financial derivatives. more when we come back your by 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 dr

the united states of america. thank you. [applause] [applause] >> it is now my great honor to call upon treasury secretary steven mnuchin and nior adviser ivanka trump. who respectively unveiled the seal of the united states embassy and to read the dedications. [indiscernible] [applause] >> on behalf of the 45th president of the united states of america, we welcome you officially, and for the first time, to the embassy of the united states here in jerusalem, the capital of israel. thank you. [applause] >> thank you mr. secretary. thank you, ivanka. in 1980, a jewish man of 19, was married to a jewish woman of 17 in ethiopia. that i, the married couple should all of their jewish heritage and set forth on foot through a lengthy trek through the desert until they reached sudan. there, they were led through and remote airfield and taken by israeli military aircraft to israel. having been rescued, they settled in the town on the gaza periphery and years later, they were kept safe from incoming rockets by the iron though, and is really missile-defense project financed by the united states. one of their daughters went on to become

the united states government. that's just counting of money that's coming. in that's usually a pretty solid number. treasury will follow up on that by the end of this week and our guess is those numbers are probably pretty being a rat. brian: had you a mandate from the president. i couldn't know set about signing the omnibus bill. look at this again and cut some money out. you found some money. $15 billion. where did you find it? where was it and is it enough? >> it's never enough. for me i would have done a lot more if i could have found it money is everywhere quite literally. resend old spending. money that previous congresses have said here department of energy you take this couple of billion dollars. or h.h.s. you take this couple of billion and it never gets spent and just sits there in these accounts. some of this money that rescinding and not making this up is stimulus money from 2011. that simply hasn't been spent yet. it's your money. it's sitting there. and we are going to have to find it looked under every rock that we have been able to. found about $15 million and we hope congress gives it back

the united states of america. thank you. [applause] [applause] >> is now my great honor to call upon treasury secretary steven mnuchin and senior adviser ivanka trump. who respectively unveiled the seal of the united states embassy and to read the dedications. [indiscernible] [applause] >> on behalf of the 45th president of the united states of america, we welcome you officially, and for the first time, to the embassy of the united states here in jerusalem, the capital of israel. thank you. [applause] . >> thank you mr. secretary. thank you blog up -- ivanka. of 19, wasjewish man married to a jewish woman of 17 in ethiopia. that i, the married couple should all of their jewish heritage and set forth on foot through a lengthy trek through the desert until they reached sudan. there, they were led through and remote airfield and taken by israeli military aircraft to israel. rescued, they settled in the town on the gaza periphery and years later, they were kept safe from incoming andets by the iron though, is really missile-defense project financed by the united states. one of their daughters went on to become a successful singer a

the united states given all the supply? priya: the one good thing with u.s. treasury market, we have the primary dealers.very dealer has to put big in there. the way i would define a failed auction would be -- when the wi market trades at a surprise, the option comes in 5, 7 basis points higher. that would be a big shock to the treasury market. we have not seen any signs so far that these auctions are having any trouble, but that is because the rest of the world is buying our debt very happily. when it worries me longer-term is that if you were going into this trade war world, you have companies say -- country's sake why do we hold our reserves in dollars? ,ny reduction in foreign demand that could essentially move rates higher. jonathan: guy? guy: i think that is a fair assessment. the levels will ultimately adjust even if there is in one given action not enough customer demand. amusing from a ,onger-term perspective is two three years ago we were read about a shortage of safe haven assets, now we are basically drowning from them. in both cases somewhere in between so there will be good to demand for th

that there would be a move of this magnitude a rate hike in the united states for the dollar for all those trillions out there in treasuries without the fed chair there to explain it and the moment has derived either the economy yes it's humming along there's great improvements in the labor market and indeed inflation has reached the two percent target that the fed sets for itself but it's accepted lower that the fed will still want to observe the economy further and one piece of data that's coming in is the labor market data it will be some information on that today and on friday and the fed is expected to move those two or three times more in this year but everyone's anxiously also awaiting the statement that the fed will issue after the meeting to kind of read out you know when is that rate hike the next one coming what kind of hike will that be part of that u.s. economy that's humming along nicely as you said is apple which surprised the market with sol its sales of the i phone ten and also announced a one hundred billion buy back of its own shadows what's behind that. yeah the apple promised to do something for a chai

the second largest corporate bond sale. this is bloomberg real yield's. ♪ ♪ jon: this is bloomberg real yield. united states treasurytioned millions of dollars of bonds this week. the highest level since july 2008. n the corporate side, bonds to help fund the acquisition and the second-largest u.s. corporate bond sale. it yielded 2.15 percentage points. hungry supply stocks. five yield bonds yielding and they are trading above the issue price. crisis of europe, the em in turkey. take a listen. >> this is serious. that by itself, the central bank of turkey is going to be able to stem this. >> when you have the administration saying they are takeover the central banker, this is a country that is facing a lot of uncertainty. >> even in the healthy countries, politics have a way of destroying economic policies. >> there needs to be more and i think that is what the market is telling the turkish central bank year. the question is will -- bank here. the question is will they remain independent. >> things are very different now. an importerhat is of energy, they should be running scared, to be honest. me, and lisath me,mow

the united states. our founders empowered a cabinet, and if you look back through history, we looked at the department of state and war and treasurywho gave trusted advice to the president of the united states. in this case sean hannity is somebody giving advice. and mind you, brian, this is sean hannity who once said, i am not a journalist jackass. now, there was no punctuation in that, but he was espousing is he's not even a fair minded jftd in his own words. he is an opinion talk show host who is feeding that opinion to the president of the united states and making him feel good before he goes to bed at night. >> some of those public servants you just mentioned, this quote that's in the article, trump in -- what is the -- i wrote it down in my own writing and i can't -- inherently distrust. sorry. it's my own penmanship. inherently distrusts anyone who chooses to work for him. imagine fdr trying to carry out helmed by mr. trump tending to his own allies and interests even when the president's instincts lean in another direction. so absolute adoration and fealty publicly, but behind the scenes, anyone who knows mike pence, he's

a governments go fund me page to allow the secretary of treasury to accept public donations, between the united statestelephone in the office, where do we send this money? and across the entire state, why are we not building this wall? there is real frustration we have not gotten is in the budget. >> this happened before with prominent landmarks. and the crowdfunding proposal, plans to ignite anyone who donates by including their name along the wall. donald trump spoke about his ongoing effort to get the wall built. >> we are going for additional funding and the protection of our country and keeping drugs out, probably the most effective. >> reporter: funding for the wall, those would be taxpayer dollars as well. the congresswoman says the additional funds were proposed, to build the wall faster. shannon: a paralyzed football player gets a standing ovation at graduation. i'm sorry, leo. i know i'm late. traffic on the ponte vecchio on a monday. always late. oh! my wallet! un momento. card lock from capital one. instantly lock your card. in case your card goes... arrivederci. mona! that smile. technolo

the best things to happen to our farmers in many years. this came after the treasury secretary announced the united states has suspended its tariffs on china table, did the u.s. lose any leverage it had with china? jonathan hoenig. where do we stand. does this help the economy? and will i be rich? >> it's good that the president has at least for now us spend these tariffs. but he could wake up tomorrow or the following day and decide to put the tariffs back on again. i think there is a disassociation about what trade is. we are so conditioned to be against the budget deficit. but there is no such thing as the trade deficit. that's what the president keeps talking about. trade is win-win by definition. this notion of somehow we are losing money on trade is wrong on its face. but that's what the president is using as a justification to control trade just as obama used the uninsured as a justification to control healthcare in this country. kennedy: china controls many industries because they have by and large a state-run economy. the answer isn't for the united states to take a heavy handed approach with sectors in this country. but we do lik

we have folks buying in the united states, looking for what they perceive as safety in the treasury markets. that is sending yields lower. the yield on the 10-year briefly touching below 2.8% today. here is the chart going back several weeks. of course, all the talk at one point was 3%. we were about that level for a good week of sessions, a little more. now the momentum has been very weckly to the downside as see the rotation back into the treasury market. caroline, what are you seeing? caroline: julie, it is a search for safety. crisis on the agenda in europe. i want to show you a picture of gmm, show you a picture of the contagion. portugal is having its worst day since january 2017. greece is selling off from austria is selling off, spain is selling off, all because of italy. a good the italian two-year yield, just look at the italian two-year deal -- look at the italian two-year deal. everyone is looking to new elections new political turmoil, and more movement potentially towards those nonestablishment parties. what will that mean for the remaining of italy in the euro? this is why th

the united states? michael: most probably. the thing i think is interesting is the term premium on ten-year treasuries exploded with the fiscalplan in december and then it came right back and if you look at the move trading take been for ticket with that term premium. rates have been going up, nominal rate has been going into a higher range, but not in the way we expected when we took 2.64% in february. if the term premium can stay low, i will guess there is going to be stability in the 10-year and that will help people buy and you have your friends in the ecb and japan, creating a base backdrop for that. will wrap up the program with a rapidfire question round. i will put you in the boxes and go through the questions individual. symbol of maturity, british or argent -- turkey or argentina debt through year-end? michael: i'm going to guess argentina. currencyey, 15% through the end of the year is appealing. priya: i will go with turkey. jonathan: a credit question, tesla or we work? three-year end? michael: tesla has a stronger religious base. wework. would go with guy: horde your cash. jonathan: final question, is the next m

the united states? >> most probably -- the thing i think is interesting is the term premium on 10 year treasuries, how theyded with the fiscal the tax plan in december. , then it came right back. if you look at the move index, which is sort of a vix for the treasury, it has been trading ick with the term premium. it has been going into a higher range, but we have not seen what we expected when we took 4% and all that back in february. if the term premium can stay low, i guess there will be stability in the 10 year and that's going to help people buy. of course, you have your friends across the ocean in the ecb and japan creating a backdrop for that. thethan: i am going to take opportunity to wrap up the program with some final questions a rapidfire question , round. go for the questions individually. similar maturity, turkish or argentina debt through year end? turkey or argentina? michael? >> that's a tough one. i'm going to guess argentina. >> turkey. 50% -- 15% carry on the currency. >> i'm going to go with turkey as well. jonathan: tesla or wework? a similar maturity through year and? >> tesla has a st

. >> that me tell you, it is not just us working hard. , in the lastday few days, i've spoken to the treasury secretary of the united statesster. we are all engaged. there are people at the table dealing with the issues we need to deal with. to make sure we keep the progress going. it is hard to know how close we are. what i can say is that with the continued focus, i remain optimistic we can get somewhere. but there's more work to be done , issues of significance. for canada, just like it would be for the united states or mexico, we need to think about how this would work in practice. -- to deals to make with problems. to make sure this field creates the investor certainty that is needed. having a deal for the long-term is what makes sense. , and areowing ahead hopeful we can get there. >> in two weeks? >> i won't give you a prediction because that would be making a guess but i can't say with any certainty. but i can say it is in our interest to get there, and we have seen the issues there and are working through them. it is sometimes difficult at details matter. >> can you or your counterparts on the canadian side bring

the united states putting new financial pressure on the iranians. the treasuryapping sanctions on the man who overseas all of iran's major financial decisions. that's the equivalent of our fed chairman. the move could isolate iran from the global banking system even further. it comes a week after president trump pulled the united states out of the iran nuclear deal or at least made a decision to stop abiding by the terms of that deal. the financial squeeze could help pressure the country back into the negotiating table. the national security correspondent jennifer griffin is live at the pentagon. what more do we know about these new sanctions, jennifer? >> well, shep, today the u.s. treasury designated the head of iran's central bank as a terrorist accusing him of funneling millions to hezbollah. new sanctions will target iran's central banker for funding she a proxy fighters across the middle east. treasury secretary steve mnuchin just back from opening the u.s. embassy in jerusalem accused the iranian banker of funneling money from the iranian revolutionary gu

the united states over that potential trade war. will they come to some sort of agreement, the us treasury secretary and commerce secretary and the restin beijing, will they deliver any a nswers ? european shares slightly lower on the open in what's another busy day for earnings. they have for the force of the balance the strength of the year, four month lows against the dollar, 110w four month lows against the dollar, now back up. yesterday coming as no surprise, policy statements from the us, so we are seeing the movement on the currency markets. we'll talk more about that with our market guest who's standing by. but first, joe miller has the details about what's ahead on wall street today. on thursday, the commerce department is expected to report that america's trade deficit, often the subject of donald trump's ire, narrowed to $50 billion in march from a gap of $58 billion in february. that ought to please the man in the oval office, and perhaps distract him from stats that are likely to show a modest rise in weekly jobless claims across the country. elsewhere, breakfast cereal maker kellogg's, which has been working hard to acco

the united states. are there additional authorities that treasury needs to deal with the counternarcotics work in our hemisphere? about 100 billion is from the united states just into mexico in illicit trade and traffic. what are the authorities do you need to take that on that you do not have currently. >> thank you, senator. as you and i have discussed, this is a very big opportunity to stop the drug trafficking by following the money. i think we do have the authority. we are working on putting together interagency groups to focus on this and we've used these sanctions successfully this year and we will continue to do so and work with our counterparts in mexico and other countries to do that. >> you have asked for additional funding in that area. we think it's reasonable to have additional emphasis based on what we're facing with the opioid crisis in the united states and such. we will want to follow up in the year ahead to see how that's spent and what's done and the benefit of that to the united states in that additional investment. can i switch over to irs, the i.t. investment, you and i have spoken as wel

that could facilitate removal from the sdm list, which of course is treasury. >> special designated names. >> national. so those sanctions blacklist for the united states, if you will. they are actually a couple. let's go with the sanctions blacklist. anyway, who came to -- who came to the u.s. government? well, if you are talking about a publicly traded company, then you have got a lot of proxy lobbyists for you to get entangled in this and really had their own interests, having nothing to do with the particular commercial leaders of this company or executive team of this company. they want to know how they can proceed without finding themselves crossways with u.s. sanctions. if they sell off their interest, they don't want to have been charged with materially enriching someone on the list and liability for them, et cetera. when you go after a publicly traded company, suddenly all of this -- anyone who has an interest in it will become a lobbyist for you. that is not the case when you are talking about a privately held company or smaller institution where the potential lobbyist is smaller. so it's not necessarily the case that everyone who makes it on

weeks trying is also holding talks with a trade delegation from the united states in beijing the discussions are being led by u.s. treasury secretary steven new can and chinese vice premier you he now try to hammer out a deal to avoid a trade war between the world's two largest economies ahead of the meeting chinese state media said china would stand up to us bullying if necessary u.s. president donald trump tweeted this team was simply trying to negotiate a level playing field on trade argentinian capital is trying to find new ways to deal with its mounting rubbish problems six thousand tons of waste a generated every day and bridges are is and the government wants to burn the trash to turn into energy not everyone is happy the plan could impact people whose lives depend on collecting recyclable materials there is a box planes. this protesters are not happy with a government of when a site is all they are without the oppose the city's plan to change the law to allow all foodies to burn waste and turn it into energy. burning trash is dangerous not only for human health where the plants are going to be installed but it's t

the united states not that long ago. he's now been sanctioned by the treasury department. why is all of this such high interest to mueller and his team? >> as novartis said, mueller approached them in november of last year, six months ago. so they have been cued into michael cohen's role through essential consultants, and perhaps otherwise for quite some time. there were -- there was allegations in the steele dossier that michael cohen went to prague and met with european hackers. michael cohen has been trump's fixer for a long time. so mueller is digging deep and many months ahead of where we are right now, as ault of this is coming to the fore. but he's digging deep into the connections between michael cohen and russia and it's beginning to percolate more and more. >> mueller and his team, i can assure you, know a lot more than we know. we kn we>>> president trump is celebrating a win overseas as three americans detained in north korea are heading home. what this signals for diplomatic relations with that rogue nation, the president, and kim jong-un. almost $800 when we