adjustm preemie and ?igher this year on treasuries michael: i was a higher.athan: duration risk or credit risk. it is a question i ask sometimes. matthew: duration. priya: duration. michael: i was a credit risk. jonathan: you have got to. great to have you with me. hornbach, matthew buchanan, and priya miserable. see you next week. this was bloomberg's "real yield." ♪ washington,0 in 6:00 in london, and 2:00 in hong kong. >> welcome to bloomberg markets. here are the stories we are watching this hour. president trump steps back from a deal on immigration and manages to offend haiti in much of africa in the process. hear from john kasich, governor of ohio and former presidential candidate about why he sees the presidential's approach to immigration antithetical to the family values of his party. and angela merkel moves forward in her quest to put a governing coalition together, finally, for europe's largest economy. shery: it could've been a done deal on daca but it has broken down after president trump made incendiary remarks that we must not repeat here abou