james athey stays with us.et's get a bloomberg business flash. here's jessica summers. jessica: the struggling commodities trader, noble group warns it will post another huge loss. it could be as high as $1.9 billion. last month the from announced an initial deal to restructure the $.5 billion in debt. there is a warning that is the end of a boom in london housing. home sellers need to be more realistic of the price demands. the firm's february to move -- february report says it was down for a sixth consecutive fall. anna? anna: coming up, we will talk about a big week for treasuries. we will break down the big u.s. treasury auctions this week. mighty quite today with president's day. we will have analysis next. this is bloomberg. ♪ anna: this is this is bloomberg. -- this is "bloomberg markets." andu.s. treasury is packing dust circling $218 billion this week. the sales will signal how much will rise as america's that -- james athey. your insight into this week. we see this large amount of bond issuance, treas

i also do believe that russia is in a very unique situation in had athey have never history of it hearing to individual rights. it has always been that everything is done for the sake of pressure. that has defined quite a bit of national security policy. to your question, what does this mean to the united states? we have to approach our relationship with russia carefully. she is not our primary foe. a is not that she is non-actor. we need to be very cognizant of is footprint that putin trying to expand across the globe. and be highly aware of that. in terms of the information warfare that we saw with the papers, thatheir is par for the course for russia. we spoke about this earlier. organization which is the 2008 propaganda arm. pseudo-ngo's across the globe. andto win over the hearts minds of people in various countries to make them except russian supremacy which is very bizarre. the other thing they like to do which is to answer the last part of your question, is they like to convince people that their current government is incompetent. if we look at the state of our media right now, th

. >> you don't want to go there the state you are athey. >> the guy with the camera is you are in no state to attempt this. you have to find a place to recover and calm down. this went from a nice hike in the mountains to almost the end of his life. >>> i hear weddings are super expensive. the bride's family apparently ends one the bill. >> we decided to go with jx. >> oh! >> brittany larson here is getting married. those are her parents. dad's looking a little uncomfortable with this conversation about the wedding. brittany is telling him she's picked a venue. >> the body language couldn't be more different. he's like how much. >> they went to a bridal show and she signed up for this giveaway thing, so brittany opens this folder and she pulls out a piece of paper, and mom's reaction is instant to what this piece of paper could be. >> you won? >> instantly somehow psychic powers kicked in and she figured out that her daughter had actually won the grand prize at that bridal show, that gave her basically $10,000 worth of free things for her wedding, including makeup and hair, wedding p

panetta: this has been handled badly from the very beginning, and athey tried to fill in all of the queions that have been asked, they are getting themselves deeper and deeper in trouble. i think they ought to be upfront, admit the mistake that have been made, and say it won't again. katty: i want to show youwe numberave pulled on the amount of turnover in this' administrat's staff compared to previous administrations. 17% under reagan, 11% under president clinton, 9% under r esident obama, 34% turno this administration in its first year. what does that suggest to you? that they ar't competent, that they haven't got good people, that there isn't good management, that people don't want to work there? mr. panetta: i think it is his trouble on all fronts, becau what it indicates to me is that initially, when the administration came in, they had tvery haphazard process in terms of hy hire people to work on the white house staff. that is reflected in the facthe that is so many interim security clearances that have not been completed. the very fact that there has been that much turnover tells mi

oakland seems to be making up rules athey go, and a lot of businesses are closing down. uncertainty is the death nil of these equity programs create terrible uncertainty for the t businesses tist. and the reports we're getting from the industry that are actually opating in the cities, they're pulling their hair out. >> i want to go back to the berkeley city council. they lowered the city's t rate on recreational pot from 10% down to 5%. what was the thinking behind that, and do you other cities thinking of following suit? >> tax rates are as high as 40% in cannabis in california,yo wh add state and local sales, ilus regulations in the new supply c when the final bill comes due, it's higher than the cannabis available on thestreet, which sort of props up the black market, which is what we don't want to under proposition 64. as i have been sayin taxes a regulations are going to be bad before get better, and we're starting locals think about adjusting those regulations to allow those to it takes a 2/3 vote to change taxes at the tate level, it's going to be hard to move thi

before you know it's athey jordan, amazing like something out of the last indiana jones, like somethingthe third indiana jones movie. i pretend the fourth doesn't exist. now in israel checking you out amazing historical areas with so much history behind them. >> this kid will have learned so much more from this one trip with that pen than if you just sat in that library and read a -- three books. it's a good thing. >> head over to italy. the sistine chapel, vatican city, seeing some incredible sights that i haven't seen. >> the library-anian is, i swea left it back here. >> there's a moment cuts back to somebody in the library looking to are that pen. what's going on? ♪ the journey continues through switzerland and we end up stateside in a very chilly looking new york. >> man, i wish i was that pen. >> the trip is not done. time to head for warmer clima climates, now in vegas, ends up at the happiest place on earth disney land. takes a bit of damage. ♪ da, da, da >> oh no. >> enjoying all of the theme parks before making its way back to the library. >>> they're celebrating and using the

before you know it's athey jordan, amazing like something out of the last indiana jones, like something of the third indiana jones movie. i pretend the fourth doesn't exist. now in israel checking you out amazing historical areas with so much history behind them. >> this kid will have learned so much more from this one trip with that pen than if you just sat in that library and read a -- three books. it's a good thing. >> head over to italy. the sistine chapel, vatican city, seeing some incredible sights that i haven't seen. >> the library-anian is, i swea left it back here. >> there's a moment cuts back to somebody in the library looking to are that pen. what's going on? ♪ the journey continues through switzerland and we end up stateside in a very chilly looking new york. >> man, i wish i was that pen. >> the trip is not done. time to head for warmer clima climates, now in vegas, ends up at the happiest place on earth disney land. takes a bit of damage. ♪ da, da, da >> oh no. >> enjoying all of the theme parks before making its way back to the library. >>> they're celebrating and using

coming up at coming up at coming up at ten...hear from álocal law enforcement in florida...about what átheyard about cruz before the shooting.spencer blake, kron four news. (vicki) this new development coming -- as the families of some of the 17 victims killed in wednesday's school massacre -- preparing to do the unimaginable -- bury their children. 14-year old alyssa alhadeff - the first victim laid to rest. (vicki) we're also learning more about the learning more about the others who lost their lives -- including a football coach - an athletic director - and young students with bright futures ahead of them. as the community struggles to heal fresh wounds... there are small signs that life is returning to some sense of normalcy. while marjory stoneman douglas high school is closed this week ... some students and staff returned to campus today- to pick up their cars left behind in the chaos. (vicki) tragedies like these all begin with someone getting their hands on a gun..

james athey is still with us. do we take these comments at face value?arket expectation that we still get corroded for a second -- kuroda for a second term? james: there was nothing in that sentence, nothing specific. seem that there is a newpside in selecting boj governor, so i would assume that kuroda will get the job. manus: have a look at this, this is the average of jgb's come in terms of their yield, versus the explosion that they have got in the six major regions. the peg has delivered. ,ou look at the growth numbers so nobody is really prepared to fight the bank of japan, but are we at the limit of the bank of japan? they have a balance sheet the size of the economy, so do you even fight the bank of japan at this moment? james: no, absolutely not. they have managed to keep the 10 year yield locked down around zero. i would take a huge issue with the notion that market success has been caused by this. i think japan's problems are structural and i think inflation is a structural issue and one that the boj cannot really fight. japanthe boj has enabl

in athey all be locked room at checkers tomorrow and not allow the cat in the bag?ll have to wait and see. theave seen the signs cabinet is coming together. we have had this very well choreographed series of speeches from boris johnson, liam fox, all pointing the same direction, allied itself with europe in some areas and break away with others. it's a bit of a compromise, but it should mean we get an agreement. tom: david merritt, thank you so much. daniel morris is with us as well. coming up, your morning briefing. if you are captive in your car, there is no better update to the world of investment and economics and all the political news. "bloomberg daybreak" look for that with karen moskow and bob moon. this is bloomberg. ♪ ♪ good morning, everyone. "bloomberg surveillance." and tom keene in new york francine lacqua in london as well. let's look at energy. michelle joins us from -- on energy aspects from asia and the chemistry of energy away from opec, oil, away from the usual themes. we look at cobalt, lithium, chemistry. what's the number one thing we need to

we will also do more to explain how athey do this. this will depend partly if we have received the funding. as always, we look for ways to serve you better. i look forward tour suggestions. >> look forward to the questions. the chair expects to be here for the entire did your aches of the hearing. and as such i'm going to defer my time until later in the sequence of the q&a. soy so i'll be yielding first to our members who i know are on the tough time clock because of the things crammed into one day. so i'll withhold my questions at the present moment and use those as we cleanup the hearing at the end. now i yield to my friend the ranking member from kentucky. >> thank you, i intend to do the same thing. i'll sit until the bitter end with you. thanks. >> the first round of questions go to my friend from oklahoma. mr. cole. >> thank you, mr. chairman. i want to begin by thanking you for the hearing. i know it's important for us to do. i begin by thanking you dr. hall, and your staff. i've dealt with a lot and with the staff and it's be