morgan stanley and loomis sayles and company. looking forward to have you both back.t is another big end to a massive leave in the bond market. coming up the option block, issuance action on both sides of the at -- of the atlantic. euro dominated bonds issued by u.s. companies at the highest level to start a year since 2007. this is real yields on bloomberg. sonali: this is bloomberg real yield. it is time for the auction block where u.s. high rate sales have slowed but there was plenty of action elsewhere. excel burned deals adding for the u.k. and france adding to debt sales, bringing the total to 83 billion euros. the u.k. sold a record amount of 10 year bonds after a tracking -- attracting the highest number of band -- of brands. you're in the u.s. we had treasury auctions for the 3, 10 and 30 year with the 10 and 30 year sales tailing. a new coupon rate was the highest since 2007. and to a story that we are watching closely, morgan stanley and six other banks sold 4.7 4 billion of x holdings debt allowing themselves to rid themselves of the bulk of the exposure t

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earlier today, mike wilson of morgan stanley explained his approach to the current climate. >> the dollar is strong and that is another headwind for producing better sales growth. staying away from some of the multinationals that have currency exposure, translation risk, as well as goods and export risk. staying away from goods affected by these tariffs. it is just a straight hit to the bottom line. scarlet: for the latest between the u.s. and china, let's bring in enda curran. you heard mike talk about how you can position yourself around some of the companies vulnerable to tariffs but when you look at the actual tariffs beijing has announced in retaliation for what the u.s. will do, beijing has retaliatory tariffs on 80 products but not until later. this is a sign of how much things have changed since the first trump administration. enda: not a dollar for dollar response. there is an entity list. there are tariffs on farming machinery, farming machinery into china. minerals like tungsten. none of that is on the scale of the blanket 10% tariffs that president trump put on all goods comin

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and coming up we will talk to morgan stanley's eric woodring on just why he defended that stock this week. yet again, we're watching the automakers too on word they might be exempt from reciprocal tariffs. there's the reaction in the market. gm up two and a half. tesla's been a tough stock of late but it's getting a nice boost as well. it does take us to our talk of the tape, how best to navigate what could be a more volatile market ahead. and let's ask our panel adam parker. he is the founder and ceo of tri-valley research and to cnbc contributor bryn torkington of requisite capital, also a contributor to cnbc. and chris harvey, the head of equity strategy at wells fargo securities. no contributor for you, but you know what? there's always a chance down the road one day. it's good to have you nonetheless. good. i'll give it to you first, harvey. this market pretty resilient, don't you think? >> it is. >> right. >> and it's going to stay resilient until we see something. some sort of crackup. or some. >> sort of. >> liquidity event in the credit markets. credit markets are supplying

e*trade ® from morgan stanley.oomberg technology and you are looking at a live shot of the principal room. find it online at apple, spotify, and i hard. this is bloomberg. jackie: shares of fintech company affirm are soaring after they posted second-quarter results. i have the ceo with me here in san francisco. what are your results telling us about the consumer. as i think about it, does that mean they are spending more or that their budgets are pinched and resorting to breaking up their payments? >> i think our results are telling you that consumers prefer affirm. they chose us as their preferred shopping tool. obviously, we outgrew the industry, we outgrew a lot of the retail numbers. clearly, folks are recognizing that the tool we have built for them is safe and useful and we are delighted to help them with their holiday shopping and beyond. jackie: what sorts of new merchants are on the platform? >> we are available at almost 80% last i checked of all u.s. e-commerce. we are very widely distributed from this p

old school grit, new world ideas, morgan stanley. >> oh, what. >> a good time we will. >> have. >> you can make it happen. again. >> voltaren for long lasting arthritis pain relief. >> are you. >> 50 or older? >> well. >> this news is for you. >> the cdc now recommends you get vaccinated against pneumococcal pneumonia. why? if you're 50 or older, even if you're healthy, you're six times more likely to be hospitalized. so schedule at vaccine. >> com. welcome back. >> have i got news for you returns february 15th on cnn. >> all right. welcome back. new attorney general pam bondi issuing a flurry of directives targeting diversity efforts at both the justice department and within the private sector. according to a new memo, the justice department will, quote, investigate, eliminate and penalize illegal dei programs focusing on private companies and educational institutions that receive federal money. another memo said the department will take a look at its own diversity policies, including whether any organizations were awarded federal doj grants to promote dei. bondi was sworn into her ne

. >> at morgan stanley. old school. >> hard work meets bold. >> new thinking.artnering to unlock. >> new ideas. >> to create. >> new legacies. >> to transform. >> a company. industry. economy. >> generation. >> because grit. >> and vision. >> working in. >> lockstep puts you on the path to your full potential. >> old school grit. >> new world ideas, morgan. >> stanley i don't play for money. >> my ambition is to play big, to help and inspire others. that's why i joined sofi. they help people earn more and save more so they can realize their ambitions. sofi gets your money right? >> animal planet's puppy bowl. >> a simulcast. >> event sunday at two eastern. >> this just in congress does still exist. we know that because house republican leaders right now are meeting with president trump at the white house as party infighting is paralyzing a part of the president's agenda. the one that still does need to get through the legislative body to see the light of day. punchbowl news puts it this way. quote, it's not even five weeks into the 109th congress and the white

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so morgan stanley up 65% in the last year. jp morgan up 58%. goldman up 75%.context. when you look at some of the raises that. >> the ceos. >> got, it is it's been a pretty remarkable 12 months for the banks and their their pay packages. >> and it does feel like. >> 30 million is. kind of. you know. >> that's that's. >> your your baseline bogey. >> i mean there's. >> most of it is. >> stock of course. and you. >> know i. >> always mention when you have. >> a relatively. >> new ceo, a lot. >> of times. the board. wants to load them up with with more stock. >> but i also it's. >> worth keeping in mind these. >> are companies where. >> there's a. >> lot of amazingly. highly paid. >> people spread throughout. the upper ranks. >> and so, you know. >> i would also add that retention bonuses have been a big theme as well. you had ten pick. as long as some of the. >> two. >> co-presidents getting $20 million each last year is being part of that succession race. david sullivan had a retention bonus for the next five years to remain and john waldron there as well. so th

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he is morgan stanley, composer has 10 million and his share values 25 million by third example is as judith missick. she's at morgan. she's also the board of in-q-tel, which is the cia's technology management foundation. so the board of directors of general hewlett packard and she just and she until recently was the ceo of kissinger associates kissinger of course is past but she's down on a down days on board of of a large for foundation all the american actually foundation which supports us british relationships. she worked at lehman bank barclays but she was the deputy director of the cia. from 1983 cia. from 1983 to 2005. and there was one other woman who was in the cia as well. so they have intelligence connections her morgan's daily compensation was 370,000. she's that stock worth 2.5. she has shares. she gets gm gives her 361,000 b on their board. and she has shares. they're worth a couple, 300,000 in titans. i address consequences of the investments that negatively impact people around the world. the titans invest heavily in tobacco, alcohol, plastics firearms, gambling and pri

. -- thank you, ellen zentner of morgan stanley. bloomberg brief. yahaira: president trump fired the head of the federal election commission but does not plan to leave. in a post on x, ellen said there is a line to fire commissioners and this is not it. she was appointed to a six-year term and under law, federal commissioners can stay past their terms until a replacement is named. apple is getting ready to unveil a long-awaited overhaul of the low cost iphone se that is expected to be available next week and go on sale later this month. it will include apple intelligence and is expected to be more expensive than the current se model which sells for $429. shohei ohtani's former interpreter has been sentenced to 57 months in prison for stealing $17 million from the baseball star and ordered to pay ohtani back and pay the irs. he blames a gambling addiction and had requested a shorter 18 month sentence. jonathan: that is how rich we need to be, so rich that you don't notice $17 million has gone missing. lisa: is that the metric now tha

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joining us now, daniel skelly of morgan stanley.. how much of a challenge is coming from potential policy changes? daniel: good morning. we've been thinking about policy changes for a long time. the mantra we have been working with his fast announcements, slow implementation. not much has changed an you are seeing in washington a lot of theater in terms of how slowly things could actually play out. more broadly we are seeing rotation in the equity market that we expected based on a host of fundamental factors that really trends in fiscal policy. lisa: like what? what are the macro factors that are much more important to the market than what the fed does or what president trump does? daniel: good morning, lisa. happy friday. a host of things burst after a lot of volatility an debate around the path of the fed last year proactive versus reactive fed. we have the 95 soft landing proactive fed scenario. the fed has said -- sent the invitation to the market. people are still debating one or two cuts but it is really marginal in terms of

according to morgan stanley, the favorite names among these retail investors, you may have if guessed it, nvidia. palantir, broadcom, micro strategies, these are names that are making huge amounts of money. and this crypts a conundrum for the sophisticated investor, right, that still sort of holds on to this belief that retail is the dumb money. they've been buying these stocks from the beginning of the rally. expect reaction in technology names, let's face it, it's been absolutely remarkable. obviously, all of that volume is not just retame investors. -- retail investors. i saw a headline that shocked me, south korea's national pension fund, $720 billion pension fund, overweight in i. bigtime, right? 35%. look what they've been doing lately. they've been buying u.s. stocks bigtime. and guess what they've been buying? again, this is south korea's national pension fund. they've been loading up on palantir, smci, a little bottom fishing on target, and they just sold out -- whatever it is, i got a mental block all of a sudden. [laughter] anyway, all of this this being driven by a.i., rig

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e-trade from morgan stanley. >> this cnn business update is brought to you by etrade from morgan stanley. trade commission free today with no account minimums. >> all right. happening now. stock futures are all lower. take my word for it. investors are bracing for some chaos after president trump slapped tariffs on imports from canada, china and mexico. canada has responded with retaliatory tariffs, saying it will. mexico is expected to announce its own today. let's get right to matt egan and a look at some of these stock futures. here they are. look at that. down. and in some cases pretty way down. >> yeah. >> 600 point drop for the dow. 1.7% for nasdaq futures. look this is what the beginning of a trade war looks like. there's chaos. there's confusion. markets are down. business groups and trade experts are warning that this is going to cause higher prices for consumers. so president trump is just hours away from putting tariffs on more than 40% of all u.s. imports. and we've seen a number of business groups come out and criticize this move. the footwear industry is saying that there's

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