annmarie: all trump.red sox but it depends on if we get the indictment text. tom: we could get it today? annmarie: yes. tom: that would be interesting. annmarie hordern, thank you so much and congratulations on a riveting discussion with admiral rogers, navy retired, on what we are doing in the pacific rim. lisa, we have got to go through the data which tells you it is to borrow from greenspan. oil at $71. i go back to the vix under 14. lisa: the rally to the bull market. although not in the ai shares and that seems to be driving everything. tom: it is there but there has been rotation. it sets us up for june and gets us to that key data point, i believe june 13, the inflation report. lisa: let's see how much that changes the game. we are looking at people who are pricing out rate cut ands it does not matter for equity valuations that are driven by this belief in american dynamism. tom: we have been very quiet on housing which is had a respite down to 7.05%. 30-year mortgage, maybe that will move higher.

annmarie: that is his game plan.e primary to make sure he is in front of the evangelicals. obviously, what you are seeing here is what many who are against trump want to avoid, is what we saw in 2016 with this plurality. i don't know why you are laughing. tom: radio, you are missing out. it looks like hollywood squares on tv. jonathan: introduce centre tim scott to the world. how interesting is he right now? annmarie: he is interesting because he will be a difficult person for people to be in a dusty put in a box. he has shown he can legislate. he is the governor in south carolina. you did an immaculate view on the -- immaculate interview on the view the other day. a group of women. he got views on all sides. he served who he was and talked about his mother. he did not get bombastic even when pressed or lose his confidence. he is an interesting name that many people want to see how his campaign can progress. obviously, it is so early on. the issue they will all have, or what the governor of new hampshire, chris sunun

annmarie: they are. tom: do they have grizzly bear repellent? annmarie: i am not sure. of expertise. what we do know is meteorologist said this could be more likely in the future that we see more fourth fires and it can start to descend as we see in new york. washington dc is getting much worse today. tom: i am dazzled by the house. have 11 ultraconservative congresspeople who basically have said on a procedural rule, which i really do not understand, we are going to let the minority democrats run the house. that is the distillate of a frozen house. let it go that high tim:. is maccarthy heading out the door based on these 11 ultra-right congresspeople? annmarie: are not saying we want the ultra right to run the show. tom: there is 11 of them, that is not power. annmarie: what speaker mccarthy will say is the five to 11 individuals are trying to the entire congress hostage to get what they want out of him. all of this goes back to potentially what promises were made during the teen rounds of the speakership earlier this year. the 11 are very upset with how the debt nego

annmarie: it is not. the trip and now the state department confirming our scoop with the dates. secretary blinken headed to beijing. the first time i secretary of state he has taken this trip. it is a long time in the making. one of the deliverables when xi jinping and president biden sat down in bali at the g20 was that secretary of state blinken would had to china. that trip was on the books in february and he was still set to go when the white house knew there was this spy balloon flying over the continental u.s. but politically became toxic when images of the spy balloon surface and he had to cancel the trip. we had a fresh low of relations between washington and beijing. now he is going and likely potentially open the door for others trips. i also sat down recently with treasury secretary who said her plans were to go and visit her counterpart in china. tom: how will he be greeted? a foreign policy diplomatic mission or will you look for something more than at? perhaps like we saw with kissinger with

shery: annmarie hordern joining us from washington.nd of course we have been watching the russia front, president vladimir putin has condemned the leaders of the wagner group traitors to russia. >> dear friends, today i have once again ordered -- and citizens, i thank you for your endurance, solidarity and patriotism. civil solidarity showed that any ransom, any attempts to organize internal unrest are doomed to fail. shery: for more, let's bring in the bloomberg political news director jodi schneider. we heard from president biden himself, what exactly did he say? jodi: we heard from president vladimir putin late in russia today, this evening in russia, and basically in the translation, he used words like me to meet and betrayal to talk about the wagner group leader prigozhin, and what happened over the weekend. he did not say where he was. he did say that prigozhin would be allowed to go to belarus. he did not say anything about ending the relationship with him, but clearly, he used very strong language to talk about what had happene

annmarie: a lot of it is a front end phenomenal. that is why we do not think the 10 year meaningfully rises above 4%. i think we get close, it is going to be a buying opportunity for bond investors. they missed their opportunity this year to go along bonds. the rise in yields, at least in my view, is going to be much more of a front end phenomenon and not a long end phenomenon. the twos tens part of the yield curve is back 100 negative basis points or below, that might be the opportunity to think about the rainy -- the steepeners in the on market. the more the bed hikes, the more the slowdown is going to be and the fed is going to have to perhaps adjust policy during 2024. katie: i am excited to talk to you about that twos tens curve. over 100 basis points inverted. you say you expect the yield curve to actually steepen and that language masks a huge call. if you expect the 10 year yield to drop and stay there, what does the front end look like? how much do two-year yields have to plummet and how much does the fed fed have to cut to

annmarie: there has been different reaction depending on who the candidate is.r chris christie of new jersey is he is saying he wants to see no one is above the law but he wants to see all the legal documents. the former president like every other american citizen is innocent until proven guilty. you have the bank saying if i was elected -- vivek saying if i was elected i would parting -- i would pardon the president. that is what every what is going to get appreciate reporters are going to ask would you pardon the former president because it's going to be about this case. alix: that plays into the idea of his base and how that pans out. thanks a lot. coming up joyce "bloomberg technology.". this is bloomberg. ♪ and this is ready to gonline. any questions? -yeah, i got one. how about the best network imaginable? let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super smooth. hey, should you be drinking that? -it's decaf. because we're busy women. we d

annmarie hordern joining us. court has thrown out the president's student loan relief plan. >> yes. the court agrees with the states that the heroes act, the basis of what the biden administration is deciding to expand and use what many were calling was going to be a huge debt relief -- they say the heroes act from 2003 does not authorize the debt forgiveness plan, so what they are saying is that the federal government, the biden administration, the executive branch, does not have the authority to use the heroes act to go forward with this student loan forgiveness. reading up a little bit more on this, what we see is this is done on an ideological standing. the vote is 6-3, guy and sonali. this is very much what was expected regarding the authority of whether or not the biden administration had this and i say that because in february, when there were these oral arguments about it, what we heard from chief justice roberts is he kept coming back to this idea, this questions doctrine, the major questions doctrine, m

annmarie: the military universities were left out of this ruling.n this opinion. the president was trying to make that point. we have this grand military and they will be keeping these measures. why would we not keep them for other private universities, public inverse cities in the united states? yes, this decision his about the university of north carolina and harvard college but every university in the country will be looking at this decision and how they potentially themselves need to start to revamp or tweak their college admission programs to make sure they are in line with this supreme court decision. with the supreme court decision. >> a focus on a landmark supreme court decision, not unexpected, but it does raise a lot of questions about some of the diversity and inclusion initiatives potentially in corporate america as well. let's bring in laura davidson who is in our washington bureau to talk a little more about

annmarie: not yet.ision for president biden or the white house. we have not gotten yet a statement from them. we got a statement from former president obama as well as former president donald trump, who was really talking about the fact they are the individuals that helped put some of these justices that voted against this in the court. this essentially ends affirmative-action as we know it. it limits the use of affirmative-action. in has decisions between these two universities, harvard college and the university of north carolina. it was on ideological lines. the justices voted a little bit of a different number for harvard college. he has a in court justice ketanji brown jackson recusing herself. it's more than a 200-page opinion. it is a lot to go through. let me give you a little of what chief justice john roberts wrote in the majority opinion. "both programs like sufficiently focus and measurable objectives warranting the use of race, unavoidably employing grace in a negative manner, involve racia

bryan lanza, republican strategist and former director of communications, trump transition team and annmariedern, washington correspondent at bloomberg. and joining us remotely from atlanta is ameshia cross, democratic strategist and former communications analyst for 0bama. think it's all three of you for being here and to guiding us through what will be an interesting speech because not only is it about the debt ceiling deal which we have been discussing and covering for many days and weeks and months, it feels like but also because this will be the president's first address from the president's first address from the oval office. i want to start up because we have some excerpts from the president's plan for marx and i want to see what you make of them. now in these, just to summarise we have averted a crisis and what we are doing to protect america's future, passing this budget agreement was critical of the states cannot have been higher and that interesting here, something has repeated, no one got everything that they wanted, but the american people got what they needed. starting off with

annmarie: they are rallying behind joe biden.rats still believe this is an individual that there will be a rematch of trump versus biden and biden would still win. what is concerning to some and potentially this concern will grow is this latest morning console test consul poll that shows for the first time, trump could be biden. that is a concern but at the end of the day, they are also rallying behind the current president and they do not have anyone that is out there looking to get in this race. there are potentially people waiting in the wings like certain governors if the president decides he will not run but at the moment coming is planning to take on 2024 and that's why they realize there are low marks when it comes to the economy and why they are going on this huge effort with this speech in chicago today and this will continue to frame and talk about the economy and labeling what they see as bidenomics. lisa: when domestic politics can overcome by geopolitics, talk about treasury secretary janet yellen heading to china at

annmarie: your guess is as good as mine.e trump team use every tool in their toolbox to slow the process down. they are not going to want this to be quick and speedy. remember, this is all happening under the fog of a primary race. there is one tool that they likely would have used, but it was taken away from them, which is the fact that this is already on trump's turf in florida. this was going to be in washington, they likely would have tried to move it to the southern district of florida and have this done, this court be held in miami. that has already been done. trump has a huge benefit there, given the fact that this is a jury of a state that he won. the judge at the moment is a trump-appointed judge. but this could be drawn out for months and go well into 2024. jonathon: amh down in d.c. thank you. just to refer back to that news, the president has 61% of likely primary gop voters paid 61% trump. desantis has 23%. scott has 4%, nikki haley has 3%. tom: it's interesting to tell us how large that primary size is compared

annmarie hordern breaking that antony blinken will be coming to beijing in the coming weeks.t point, are you seeing europe commit to longer-term contracts? part of the issue has become that europe does not want to sign a 20 year contract, only seven years or 10. what are you saying? colin: turgeon, yes you are seeing length but maybe look for values elevated for what does the world need? we think about the world wanting ever cleaner energy. we think it needs all of those three things together. one of the things that plays into that is that gas is a reliable source of energy and it is one that has some of the lowest emissions of fossil fuels. we think that plays. your has got to bounce -- europe has got to balance these things. we observed early in the crisis that there was a bit of dichotomy with people not necessarily wanting to commit for a long period of time because they worried about speed of energy transition. what we have seen in the last year is more and more european counterparts opening up to a longer term forecast contracts, because they realize that gas is part of

annmarie: he took an interesting town on friday.the military if he did something like this he would be ousted in a new york minute. he made the case that he knew what the consequences were but at the same time he was to show and ostracize the base of the republican party of what we've already seen and this week shows how strong of a whole former president has on the base. he did talk about the fact that the department of justice -- the democrats have weaponize the department of justice. it was interesting him saying that he would never do such a thing because he knew how strong the consequences were. jonathan: and just remind us again when all this kicks off this afternoon. kailey: 3 p.m. this afternoon. but before that we will pay attention to how many protesters show up. miami police pricing for anywhere from 5000 to 50,000. president as ask is reporters -- supporters to show up today. jonathan: over there so many times with regard to the former president donald trump, in the last eight years he has desensitized you to what is pla

annmarie hordern and washington, d.c. of bloomberg joining us.the election later. but how significant is that that there have been these talks by senior officials in china and the u.s. in beijing? annmarie: one of the most significant is we have the highest ranking u.s. official to date since the spy balloon incident. an individual in charge of asia meeting that vice foreign minister in beijing. according to readouts, these were frank and candid conversations. it seems that you see the administration wanting to meet with counterparts. this could be the laying of the groundwork. it comes on the heels of other meetings between high-level u.s. officials and counterparts. gina raimondo meeting her counterpart, jake sullivan spent a lot of time in europe recently. there was a secret trip from the cia director, to china. it looks like there is a growing of outreach. at the same time, the rhetoric is heightened now. we saw that over the weekend at the shangri-la dialogue in singapore. a cordial handshake, but there was no meeting between the defense chi

i want to think my guests, bryan lanza, annmarie hordern, washington correspondent at bloomberg.g to change very much over the next few days. in fact, over the next five days, while southern parts of europe will continue to be very wet indeed across our shores, very little, if any, rain in the forecast. and that is because high pressure continues to hold firm to the north—west of europe, allowing these thunderstorms to pop up down towards the south, but keeping us largely fine, dry and settled with some spells of sunshine. and that sun is strong at this time of year with high uv levels. most of us starting on a sunny note on saturday, a little bit of patchy cloud here and there across parts of england and wales, tending to retreat back towards the east coast. we will keep a bit more cloud around northern scotland, particularly for orkney and shetland, and there isjust a very, very small chance for a shower over higher ground in scotland and northern ireland, but really only a very small chance. a slightly warmer day, 16 or 17 along the east coast, 23 for some spots further west.

annmarie: this deal means that they have to make sure they're setting appropriations.t was really interesting yesterday with senator schumer's comments trying to assuage senators concerns about the fact that there could be these carveouts, these supplemental bills. whether that's defense for ukraine, many did not think this deal went far enough with the defense budget. we are more than 500 days out until the next election cycle and it's a divided government. lisa: you talk about the divisions in the republican party, i'm curious about the divisions in the democrat party. tim kaine tried to out the pipeline provisions and permitting process for joe manchin. what do you make of this going forward how this represents the polarities of the democratic party? annmarie: this is on full display during the president's first year when it was joe manchin versus the white house. when it comes to this pipeline, what tim kaine took issue with was it was in the debt ceiling bill and it affects his state of virginia. there a lot of harsh criticism of the white house because of this. b

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host: annmarie and illinois, another graduate.ler: the issue i am having as i went back to school. i dropped out in the late 70's and i went back in the 90's. what i found out and i got a bachelors in business and in associates and paralegal. when they say there is an equal opportunity that's not exactly true. being an african-american, considering the time span as descendants of slaves being held back from education. it was illegal for us to even learn to read. and now here i am stuck with the student loan payment and i am a groundskeeper. the fact that i did not pursue my career in business, i kept running into a brick wall when it came to getting hired. i was not able to do where you work for a company for free. host: an apprenticeship? caller: i couldn't do that because i had a family. here i am i am paying 51,000 for my education that i am not even using. and i did find out that there is a glass ceiling. it is who you know to get hired instead of what you know and i don't think that's fair. african-americans have to pay huge

annmarie hordern saying yesterday the white house was trying to get ahead of the economic dialogue.atie greifeld is in for lisa abramowicz and jonathan ferro. this label glued to my face is bed, bath & beyond. in washington, they said there was marks on joe biden's face because of sleep apnea, legitimate medical procedure. the answer is once again, and is not going away, age. not as old as the president of the united dates, gregory joins us. it is not going away. plain and simple, it is not going away. interpret please. greogry: there are a lot of things working against him area i worry about a strike in august that could last until before they worry about a government shutdown. student loan decision, maybe today from the supreme court, will go against him. and there is the issue of age. he is in pretty good shape. donald trump is 77. what i have seen is the majority of democrats would rather he not run. tom: where does this play out through the summer? i know republicans are focused on and eight. there are 42 people on stage. there will be a debate in august. what is the timeline f

tom: the dip and what we had with annmarie hordern today earlier and all that is going on with mr.ot affected market -- markets. i will make it a 67 on westech -- west texas intermediate but the market is resilient. lisa: i feel like people are saying we could have every existential worry in the book and we have any the past 24 months and we are sick of it. on the ground, it looks good but what about the earnings? have we built in expectations that are too high relative to what companies can deliver. tom: we will have to see on the earnings front. delta airlines flying away and fashion and getting it done along with the rest of his business class industry. lisa: can't beat expectations. there shares tanked so how much had been built into the agitations? i wonder if we will be on this question around hawkish -- christine lagarde coming out very hawkish and more hockessin a lot of people were expecting and saying they will raise rates in july and their work is not done. this is a pressing pressure they cannot help but fight. will market stop responding? -- will market stop responding

annmarie hordern joining us to discuss this.ou given that they didn't really tamp down tensions at all based on that u.s. ship that was interceded by chinese officials? >> it did not tamp down concerns and the rhetoric you have even though we did see this friendly handshake between lloyd austin and his counterpart. but when lloyd austin got up to speak he said a friendly handshake is not enough for substantive discussion. the u.s. wanted to have at this shangri-la dialogue in singapore a sink -- sit down between these defense ministers. they want to start having disengagement with china. we have seen a number of outreach is happening on the part of the administration. in the chinese perspective they were not willing to meet almost sanctions put on the minister and 2018 for overseeing some transfer of russian military equipment, unless those were lifted they were not going to have a meeting. i asked the president about this would you consider lifting the sanctions. the chinese were saying we are not going to have a meeting. there

host: annmarie and illinois, another graduate. caller: the issue i am having as i went back to school. i dropped out in the late 70's and i went back in the 90's. what i found out and i got a bachelors in business and in associates and paralegal. when they say there is an equal opportunity that's not exactly true. being an african-american, considering the time span as descendants of slaves being held back from education. it was illegal for us to even learn to read. and now here i am stuck with the student loan payment and i am a groundskeeper. the fact that i did not pursue my career in business, i kept running into a brick wall when it came to getting hired. i was not able to do where you work for a company for free. host: an apprenticeship? caller: i couldn't do that because i had a family. here i am i am paying 51,000 for my education that i am not even using. and i did find out that there is a glass ceiling. it is who you know to get hired instead of what you know and i don't think that's fair. african-americans have to pay h