jeff currie and troy gayeski stay with us.nagement chief investment officer at 8:00 a.m. in new york this is "bloomberg." . ♪ viviana: this is bloomberg surveillance. i'm viviana hurtado. defend its planned merger with sprint on capitol hill next month. the ceo and sprint chairman will speak to it skeptical democratic-controlled committee. brettfounder and ceo smith will not be forced to step down later this year. the independent directors agreed to have the mandatory retirement age apply to directors who are not company executives. he turned 75. or years ago, the board took a similar step when he approached the then mandatory limit of 72. tom: thank you so much. jeff currie with us and troy gayeski as well. cycle,modity super everybody is waiting for it to come back. where is the recovery of the super cycle? we have seen a drop in long cycle investment across the economy. china overbuilt the previous decade plus the returns have been poor and uncertainty. i attribute a lot of the myths in the survey data because we do not mak

kate moore with us, simon french, and jeff currie.we are going to look about the chart of the year. we are going to look about the economic underpinning of your 2019. please stay with us. ♪ ♪ announcer: now back to "2019: a look ahead." here are your hosts, tom keene and francine lacqua. tom: welcome back to "2019: a look ahead." thrilled you are with us here. real smart conversation. jeffrey currie with us of goldman sachs, head of commodities research. kate moore of blackrock, their chief equity strategist. simon french with panmure gordon. i want to go right to the chart of the year. twin deficits. never have it done before a chart to try to look to 2019, chart to try to look to 2019, 2020 and on. the gray line that's sum of trade deficit to gdp. the sum of fiscal deficit to gdp. it is becoming reagan-esque. isn't it? kate: yes, and there are not enough people looking beyond 2019. i wonder if one of the surprises for next year is this is going to be something that we are singularly focused on. it has a significant impact on bond yi

let's get to the goldman sachs conference jamana >> i'm standing with jeff curry here he is the global head of commodities at goldman sachs, and he said to me there's never a dull day for commodities with that vein, jeff, thank you very much for joining us on the show today >> thanks for having me. >> before we talk specifically about oil, i just want to talk about the broader commodities complex because last year was almost a year of two halves. first half of the year people very optimistic. there's reflationary all of that petered out. oil plunged. basic resources, et cetera where, how do you see 2019 playing out? >> well, i think we're back to the same starting place we were about late 2017. i think let's go back and talk about the sell-off that occurred late last year, and there's two ways to look at it one way is to say, hey, the situation deteriorated at the end of last year or the other way to look at it is all that exuberance we were talking about one year ago never happened that the world ended up looking a lot more midcycle than what we actually thought remember, we look at t