massaerg reporter annie fathers blackrock. walk us through these changes and -- follows blackrock. these changes and what they mean. annie: the changes put more power in the regional heads ast blackrock. institutional client businesses are reporting to the regional heads, showing they are trying to concentrate more power across the various regional leaders across the globe. haidi: what does the reorganization mean for the alternatives business? annie: the alternatives business is something blackrock has been focusing on. right now, alternative like private equities account to only 2% of assets under management. but in the reorganization, they change leadership of the global alternative investment business, and it kind of coincides with them putting more focus on that piece of the business. of course, we know that blackrock is huge in index investing, a leader in etf's the global leader in etf's across the world, but alternatives offer a bit more return for investors, and those products are typically higher-fee, which might be one reason they look attractive to an indexing giant lik

blackrock is calling towards u.s. treasuries.hey are wagering that investors have become too confident that their reserve will cut rates. still seeing the move as a hike. this is despite investors pricing in two decreases by the end of 2020. global news 24 hours a day. powered by more than 2700 journalists in more than 120 countries. this is bloomberg. i got your name right now. we are all good. cautiong on from that, from blackrock. today we are asking the following mliv pression. which sovereign bond market is most reliable to reversal. -- vulnerable to reversal. fear of missing out is likely to go -- grow in equity market. a sentiment backdrop that begs for caution. goldman remains constructive in their after allocation. risky assets continue to outperform and volatility resets lower. see says that's where they see growth going forward. believe thately the emerging markets are where most of that growth will come over the next decade. i spend quite a bit of time in asia. we absolutely are investing a crowd -- across the region.

is standing up and taking -- we are -- i have representing blackrock employees, blackrock client, all stakeholders and shareholders we have a louder voice we're also asking other ceo, other chairs so have a louder voice. i do believe we have to be mindful. and you are hearing this from jamie daimd. from many meme now that there is a need for i would say more conscience capitalism there is a need for more inclusive capitalism >> you saw jamie diamond was asked at the bank hearings last week about wages and jeff bezos on the gauntlet on the wages to juan mawalmart. if all these companies increase wages how does a blackrock think about that maybe good for society but maybe bad for the stock. >> in the long run if you are able to track better employees and have more productivity i can't answer the question with limited information. but if they believe they are raising wages and they are able able to track better employees same employees but are now willing to work a little harder. they are more involved if the output is better productivity it may not deteriorate the margins. but once agai

blackrock shakes of its management lineup. world's largest asset manager is promoting a new batch of execs to lead its alternatives business. and we talked to head of the ontario teachers pension plan, one of the world's biggest retirement funds. how his fun was had by volatility that unnerved global equity markets last year. let's get a quick check on the major averages here. we have some of the same uncertainty hanging over markets as they have been in recent days. brexit is front and center, china-u.s. trade talks kicking off tomorrow. the s&p now in negative tory, have been positive, but mildly. they saw the golden cross yesterday. average, it indicates a 14% gain for that market. across the board, energy playing a role for the potter market. walgreens and dow, two companies we are keeping an ion. at the bottom of the screen, the pound seems to be moving around a little bit. we have some volatility, as there was an expectation that may would speak. we will see if the pound has a reaction to what she said. shery: given all

joining us is rick rieder, blackrock's cio of global fixed income.says if you really look back at what he's done, the whatever it takes remarks that may be cap the union together, and how statesmanlike he's been, he's done quite a job. rick: i'm a big fan. i think he's been incredible. i think it is the hardest job in the world. you think about the demographic dynamic, the leverage dynamic. you've got 19 countries all going in different directions. i've got a chart that showed the temperature in the euro zone against the leverage of growth. you have this incredibly different dynamics. only one engine that is coordinated, and like you said, he's done a really good job of managing it, being innovative in terms of different ideas. pretty impressive, i think. alix: it feels like the idea a year ago was to get deposit rate hikes on the table and move in the direction of normalization before draghi was out. that looks to be off the table. whoever takes his place, how do they manage all of this? -- i'm not sure who it is, but the job they have might be even

blackrock oversees about $6 trillion in assets.named george davis as chief financial officer. he has held the same position at qualcomm, its rival, for up to six years. intel faces increased competition after introducing new prices into technology. that is your bloomberg business flash. manus: olivia, thank you very much. another breaking news line, this time on carlos ghosn. we told you earlier that he would have a nice conference on april 11, we now have a new -- tokyo prosecutors plan to rearrest carlos ghosn on a new charge. that is according to a report. a prospect of a new arrest for carlos ghosn. we have the stories overnight, additional stories that there are further allegations, must emphasize the word allegations about yachts, planes, and investments into startups. those are additional allegations reported overnight. tokyo prosecutors planning to arrest carlos ghosn on new charges. details.ait for more talks are set to resume in washington between the u.s. and china, reportedly moving closer to a deal. the financial times

blackrock certainly responding to some of these pressures.interesting to see whether this is accompanied by additional job cuts and who ends up getting more power internally. david: it is a fascinating story because blackrock has grown a lot through passive investment. larry fink is very much the head of it, but he's got to start thinking about succession. lisa: absolutely. there's also the question that the more assets you have, that doesn't mean you have the most. so where is the alternative? is it shareholding, some other business, data? there are a lot of questions, and blackrock trying to address those with the biggest reorganizational shift in a decade. we will bring you more on that as it develops. aming up, lyft stock taking wrong turn, falling below its listing price. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." coming up in the next hour, jeff solomon, cowan's ceo. ♪ viviana: this is "bloomberg daybreak." i'm the ve on or to hutto with your bloomberg business flash. as lisa david broke -- lisa and david broke moments

blackrock is massive. >> it is. look at the memo today, it is one of the things that cannot. there is a lot of moving parts that blackrock is seeing a lot of things. a couple key takeaways. they are definitely making moves in their alternative business. they have been tried to bolster this over the last two years. we just reported earlier that they have had their first quote. they are getting off the ground with billions in the first quote. they also elevated an executive. you.ireland like he is done chief investment officer in the group. but he also made it clear that they are trying to go at it more local on the ground, elevating placesin regional and definitely wanting clients to feel our presence there one-on-one. giving more power on the regional level. guy: good morning. do we now know who is on the list to replace larry fink? peggy: that was has been circulating for quite a while. in terms of today's memo, there wasn't a clear successor emerging out of that. certainly, we had more changes in january. fink has

i want to begin with this line we got from blackrock's larry fink earlier this week.s referring to equities and he said there are huge money sitting on the sidelines. clients are underinvested, not over invested. we see more upside, especially in equities. does that apply to credit as well? does that apply to fixed income? it took a lot of inflows on the fixed income inside at blackrock through the quarter. priya: the lowest risk asset have got most of those inflows. the fed told us they are done with hiking. months,ast couple of there is a fear they were going from goldilocks to a recession. if you're nervous about that and the fed is not hiking, you put your money in the front ian d. money market -- in the front end. --t is not investing in gershon: as much as i hate to agree with larry fink, he is right. that does show people are not investing enough in risk assets. i do not think that is anything new. how many studies have to be done to show the s&p returns 11%. the average investor gets 3% or 4% of it. everyone was so nervous in the fourth quarter last year. now

blackrock announces an ovehaul.

i want to begin with this line we got from blackrock's larry fink earlier this week. melt up on the call.y's earnings he was referring to equities and he said there are huge money sitting on the sidelines. clients are underinvested, not over invested. we see more upside, especially in equities. does that apply to credit as well? is that just the stock story? does that apply to fixed income? he took a lot of inflows on the fixed income inside at blackrock through the quarter. priya: fixed income has gotten the influence. the lowest risk asset have got most of those inflows. the fed told us earlier this year they are done with hiking. i think people felt more comfortable about fixed income, but in the last couple of months, there is a fear we are going from goldilocks to a recession. if you're nervous about that and the fed is not hiking, you put your money in the front end. money market flows have been extremely high. that is not investing in the riskiest assets, so i see where he is coming from. gershon: as much as i hate to agree with larry fink, he is right. the res

let's go to a chart of blackrock. a lot of management changes at the top.know there was a downward adjustment to larry fink's compensation in the last year. there will be a lot of focus on what these banks are saying about their outlook on global growth, which is expected to impact any of these financial institutions with international exposure. citigroup has that issue. morgan stanley also a close area of focus. m&a is also a big area. we do know that morgan stanley and goldman were in the lead in terms of being chosen for the ipo with uber, which is heavily anticipated. that likely will go into their forward projections. investors could be listening closely. haidi: su keenan with the latest on bank earnings. let's get a check on the business flash headlines. facebook is investigating a third major outage this year with users unable to access the platform or mentioned during or instagram or what's up -- whatsapp. the problem began at 6:30 sunday morning in new york and spread across the u.s. into europe and asia. it was backed up three hours later but user

isabelle, blackrock chief multi-asset strategist. isabelle: thank you for having me.di: to get a roundup of the stories you need to know, go to your terminal. it is also right there on your mobile on the bloomberg anywhere app. you can customize your settings so you can get news on the industries and assets you care about. this is bloomberg. ♪ haidi: if you recall earlier this year, samsung unveiled the galaxy fold, which can be a phone or tablet. the price tag of nearly $2000. mark gurman got his hands on the device to take a closer look. mark: about eight years ago, samsung launched giant expensive phones and a group of you thought it was a gimmick. samsung is hoping to do it again and turned mainstream. the galaxy fold. a $2000 full double phone. you can run three applications at once. it is not as consistent as i would like when flowing between the smaller screen outside the phone and the bigger 7.3 inch screen when you open it but i feel like it will get better over time. when you open it up, it is basically a tablet. it is almost the size of an ipad mini. it has

of investment firm blackrock manages more than six trillion dollars in assets trillion for reference the us government budget for next year is just under five trillion talking about trillions of dollars human rights and well just people generally become a little less important that's not to say the c.e.o. of blackrock is a bad guy now mr fink was recognized last november by the crisis response group the international rescue committee for his spirit and passion for humanitarian causes real people guy charity and all that said the smell of money trillions does crazy things to you so no you can go on boycotting and criticizing saudi arabia but the guys with the money hold the strings they're interested it's business as usual. the face of american diplomacy secretary of state mike pump alehouse claim that russians have been interfering in american politics since the one nine hundred seventy s. and will continue to pose a threat for decades to come. the russians interfered it happened in the run up to the election in two thousand and sixteen that we have the we have the mission now to mak

blackrock earnings hit the tape, we have the numbers finally, ashley webster.ley: good morning, 661, estimate was 61 3-rbgs revenue on 3.35 billion, that's a beat just the estimate was 3.1 billion, just looking at assets under management that's back up to 6.52 trillion, if you remember in the fourth quarter for blackrock they saw a lot of outflows, a lot of volatility and the number had dropped before 6 trillion to 5.98, this is a good sign for the company, more clients putting their money back in and blackrock, of course, seeing that number rising very nicely, indeed, so there you have it, i'd say the headline numbers are pretty strong here, assets under management is strong, long-term net inflows of 59 billion, that's a strong number as well, the operating margin coming in close to 37% above what is expected, maria? >> what's the aum number. $6 trillion earlier. ashley: 6.52 trillion. maria: incredible. maria: coming up lori louglin pleading not guilty. cutting military aid, that's what alexandria ocasio-cortez believes the u.s. should consider, the controver

of investment firm blackrock manages more than six trillion dollars in assets trillion for reference the us government budget for next year is just under five trillion and we're talking about trillions of dollars human rights and well just people generally become a little less important that's not to say the c.e.o. of blackrock is a bad guy now mr fink was recognized last november by the crisis response group the international rescue committee for his spirit and passion for humanitarian causes real people guy charity and all that said the smell of money trillions does crazy things to you so no you can go on boycotting and criticizing saudi arabia but the guys with the money hold the strings they're interested it's business as usual. face of american diplomacy secretary state my claim the russians have been interfering in american politics since the one nine hundred seventy s. and further research will continue to do so and pose a threat for decades to come. the russians interfered it happened in the run up to the election in two thousand and sixteen we have the we have the mission no

income among other areas, in blackrock's firm of almost $6 trillion of assets under management.ater on, minneapolis federal reserve president and ceo neel kashkari will be here as well. a big story for the market this is week was the inverted yield curve when short-term interest rates are higher than long-term interest rates. a couple of reasons why. the ten-year yield broke 2.4% this week. concern about global growth as well as trump's nominee for the federal board, steven moore, saying the fed should cut interest rates immediately. he thinks the fed should cut rates saying that the fed is sucking the oxygen out of the economy, and it's created an economically debilitating deflation, deflation shrinks the economy. the fed should reverse its disastrous rate hikes, writes steve moore. joining me now, rick reider: great to see you. >> thanks, maria. maria: i was trying to really make the case and explain to our audience how significant your portfolio is at 2 trillion in a firm that has almost clash 6 trillion in -- $6 trillion in assets under management. you watch this stuff reall

of investment firm blackrock manages more than six trillion dollars in assets trillion for reference the us government budget for next year is just under five trillion i'm a talking about trillions of dollars human rights and well just people generally become a little less important that's not to say the c.e.o. of blackrock is a bad guy now mr fink was recognized last november by the crisis response group the international rescue committee for his spirit and passion for humanitarian causes real people guy charity and all that said the smell of money of trillions does crazy things to you so no you can go on boycotting and criticizing saudi arabia but the guys with the money hold the strings they're interested it's business as usual. the united states is. of manipulating travel procedures to humper russia from participating fully in the united nations the plane coming from the russian foreign ministry after washington refused a visa to the head of the russian delegation to the un disarmament commission school live north artie's meeting a call but for more on this medina some big claims

what i hear about blackrock, fincke is saying, following politics, this guy is obsessed with it.e really wants to be treasury secretary and he is a democrat. he is talking about how he believes bernie sanders is, has really has, not just a shot but as of now the best shot at winning. now if you look -- neil: even if joe biden runs? >> yes. let me back up a minute and say, look at "the times" today. they ran a story, if, "the times" is plugged into the democratic party establishment. they are seconding that. they're talking about how donors and contributors are really worried about bernie sanders winning, because guess what? despite the poll you just saw, donald trump has a real chance, a chance of not just winning re-election but destroying him once it cops out how kooky bernie sanders is. you can put bernie sanders up with trump. trump says crazy stuff, acts nutty. bernie sanders acts nutty. but when it comes, policy, trump enacts mainstream republican policies. say what you want about building a wall whatever. cutting back on immigration is a debate republicans have been having

tom: blackrock, not a too big to fail bank but well known to the bloomberg terminal users, blackrocker i was looking for, net inflows more billion downom $81 to $31 billion. that shows the restructuring blackrock announced a number of days ago. nuven on to a more traditional bloomberg conversation, matthew luzzetti has been my worst nightmare, manufacturing 12 page reports and i get mad i have got to read this. worse.hajan is particularly on the united states market. let me start with mona. does our economics and the equity markets linked? mona: gdp growth is decelerating this year. 2.1% tofrom 2.9% to 2.2% this year. architect gone the other way. we were down 20% peak to trough last year and now we are up 23% since december 24. part of that is driven by expectations that perhaps we will get reasons for optimism in the second half, not only a china recovery story, perhaps a u.s. earnings story and perhaps we climb these geopolitical walls of worry including trade. she goes macro: onus. where's the underlying business investment? where does that dynamic stand? matthew: the second deri

larry fink from blackrock saying he expects a melt up of stocks.oks like it is going to go that way. stocks go up gently, volatility dies. you can see this carrying on for a wild. investors have to insure against it going horribly wrong. this is the same cycle. stocks essentially a record in the u.s. and credit spreads are close to their high. situation toorst be short volatility. how can you hedge that? you have to give away some of your gains to buy protection. vonnie: the bond market is not so tranquil. with the vix index down at 12 and the move index also not doing very much. what can we read from the bond market turnaround up to 2.58 on the 10 year? marcus: there has been a shake around on mortgage-backed hedging, which caused a kick out ,n the last years but yields when you're about to bust out of 3.25, the big bond market is going to end, but it did not, and fact it came. we had a flattening yield curve and an inversion of the yield curve. it has calmed a bit. bond yields are negative. they've ratcheted up above positive. the bond market is

blackrock wants to become one of china's leading global asset managers. out the decision in his annual letter to shareholders. he said blackrock is focused on china for presence in more diversified investment solutions. andbiggest islamic lender the united arab emirates has its sights set on a rival. dubai islamic bank is considering buying a bank that would create a lender with $75 billion in assets. the middle east financial service industry undergoing a wave of consolidation. playboy bunnies are out, it seems, at the annual london metal exchange gathering in the fall. the lme is imposing new restrictions as it tries to clean up the industry's largest gathering. last year and event was held at the playboy club, and the infamous strip club offered free entry and drinks. that is your latest bloomberg business flash. have ag markets now, we down beginning to the week. the s&p 500 down 2/10 of 1%. boeing dragging the dow down. the nasdaq down 2/10 of 1%. in germany, the dax down for tenths of 1%, being dragged down by deutsche bank, among other stocks. it i

blackrock, world's biggest money manager, rarely if ever ignored, cooling toward u.s. bonds. not confident the federal reserve will be cutting interest rates. let's get to wes goodman. what is going on? >> regarding the federal reserve, yeah, i think the calls are coming for the fed to stop cutting interest rates. it has stopped hiking and calls beyond those from president trump for the central bank to start cutting. starts or not the fed cutting it is on hold. that has sparked a rush for yields, global rush for yield. society bonds. tencent came to market last week. a well-known chinese property developer came to market yesterday. i think with the fed on hold there is a rush for yield. we see bottle works showing up in the market. you mentioned it, aramco. we are continuing to see the book increase on this one area tot is -- that has managed pull down yields. have a look at our bloomberg chart. this,sting thing about the pricing might come in at how much the saudi government borrowed, if not below when it hits the market. investors buying into when they buy aramco debt? it i

blackrock's massive. how do you go about reorganizing something that big?ome moves in the alternative business. this is a group they have been trying to bolster over the last few years. we just reported earlier that they had their first close on a private equity fund, getting off the ground with $2.75 billion in the first. they changed the head of that unit and elevated an executive who was the head of their real assets, and also made it clear that they are trying to get more local on the ground, elevating some people in regional places to say we know we need growth definitely u.s., and want clients to feel our presence one-on-one, giving more power on the regional level. ♪ >> another gloomy corner for those in the auto industry as carmakers reported u.s. auto sales. honda was the shining star with a 4.3% increase. went to the march sales tell us about the state-of-the-art industry and the economy? is there something more to this? >> general motors had a big sale in march of last year that artificially pushed sales up. the numbers look a little weaker they

blackrock announces an ovehaul. the latest jobs report sheds light on the state of the u.s. economy. >> investors can relax. this is a buy stocks report. >> bank santander rolls out a new business plan. >> we will invest $20 billion over the next few years on technology and digital. >> and twitter's ceo speaks exclusively about the challenges facing the tech sector. >> there will not be any one party responsible for fixing this. >> it is all straight ahead on "bloomberg best." ♪ emma: hello and welcome. i am emma chandra. this is "bloomberg best." your weekly review of the most important business news, analysts, and interviews from bloomberg television and around the world. let's start with the day-by-day look at the top headlines. on monday, investors braced for a busy evening of brexit votes in parliament, but while they waited, an unexpected dose of good news came from china. ♪ >> china's economy is showing signs of stabilization after the latest manufacturing pmi numbers showed the biggest month-to-month increase since 2012. run us through these numbers. what is the key

blackrock's larry fink now saying given this environment, the risk could be of a meltup not a meltdownes he have a point? guest: i think he has a very good point. if we look at what is going on in the emerging markets side over the last few months, we really have seen just the removal of a lot of the headwinds to emerging markets from a liquidity standpoint, growth standpoint, growth expectations that point. i think as we move forward and as we start to see the data behind that, we could see investors getting even more enthusiastic about the markets in the short-term. shery: how much do we need to see data also support this equity rally? derrick: i think we are beginning to see some pretty good numbers coming through. as you mentioned earlier, the chinese gdp growth is expected to come out tomorrow, today your time. we don't expect great numbers out of that. we are probably close to consensus. 6.3% or so. the data we are seeing elsewhere as you know -- the budget was highly stimulative. rates coming down in china. we are seeing more and more positive data that the stimulus is gaining t

vonnie: blackrock is massive. how do you reorganize something that big? making moves in alternatives businesses, the group they have been trying to bolster over the last few years and we reported earlier they had their first close on a private equity fund with $2.75 billion in the first close. they changed the head of that unit, and elevated an executive named jim barry who was head of their real assets. they made it clear they're trying to go more local on the ground, elevating people in regional places to say, we know we need growth outside of the u.s. and in europe, and definitely wanting clients to feel our presence one-on-one. giving more power on the regional level. >> another gloomy quarter for most of the auto industry as carmakers reported u.s. auto sales. honda was the shining star with a 4.3% increase. what do the march sales tell us about the state of the auto industry and economy? tough comps or something more? >> a little bit tough comps, general motors had a big sale in march of last year that artificially pushed sales up. it made these num

comerica, blackrock, bank of america, unitedhealth. 3% is typical. what happened is analysts fear the global economic slowdown in 2019 they dramatically cut and now it's obvious the analysts have cut way too much here's the bad news. very large discrepancy between earnings and revenues. this is unusual. the sign the cost pressures are starting to show up in the system earnings expected to be down almost 2% this quarter and revenues up 5% what is that all about companies that have been reported have been citing unfavorable exchanges and many now reporting issues with higher wage and labor costs and higher raw material cost and with higher transport costs we saw this particularly with jb hunt, one of the big trucking logestic companies and you see them down 4% back to you. >> robert, thank you very much >>> as the markets inch closer to all-time highs, are there still values left for investors and any potential threats to the rally? let's bring in jeff, chief investment strategist and chetten, chief global economist at morgan stanley. gentlemen, welcom

first off, blackrock reports.'s largest asset manager closing $65 billion of net inflows in the first quarter, reversing three quarters of institutional outflows. then, new delay on the block trade. traders argue the move will improve liquidity. deutsche bank in deep waters. house democrats issued subpoenas to deutsche bank and other lenders, escalating probes into , aspresident's finances well as any outside influence on u.s. politics. david: we welcome jason kelly to take us through these stories. on blackrock, they are back. jason: money was coming out, now it is coming back in. we will see what the color around this is because if you see the stock is down and it , therket -- if you see stock is down in premarket. lisa: blackrock specializes in passive funds and etf's that don't charge big fees, so where are they going to generate revenue going forward? jason: that's exactly right. one thing we should note is that those flows were down from the $37 billion.r at they were at a record $81 billion in the fourth qu

it has an aggressive expansion plan and backed by blackrock blackrock thinks it's time to get out soo ipo now. >> here is the crazy thing we talked about lyft and how it might not be a business model. i understand the luckin business model in the long run, spending a ton of dough, doing a ton of marketing. you're telling me you don't want to have a store on every block in china i was there five years ago or so, you had to walk a mile to get to a starbucks i think luckin could have a great long-term story. >> what is the hurry though? >> because you have the capital available. people will give it to you in a way starbucks is expanding so fast from china, we better expand before they take all the open territory >> starbucks isn't backing off in china they're expanding aggressive starbucks has 3700 stores in china. er this looking to double that in the four years. same-store sales in china up by 1%, last quarter they report this week. they talked about no softness in the chinese consumer and they don't seem to be backing off the expansions >> i love they're call coffee to chinese consum

the most relevant, the most relevant ceo in earnings that we're going to hear is blackrock. you'll learn so much about the asset management industry when you hear larry fink on that conference call. >> he's going to be, i think, on "squawk" tomorrow morning around 6:30 >> always worth listening to >>> hello, scott hello, everyone. actress lori loughlin and her fashion designer husband mossimo are pleading not guilty in the college admissions bribery scam. they are waiving their right to appear in court for an arraignment. several other indicted parents have entered not guilty pleas. >> paul ryan says the u.s. wants the rest of the world to be more like taiwan. he led an american delegation to the american institute in taiwan which is the de facto u.s. embassy. >> the strategy of the united states is to assure that freedom and openness flourish in the indo-pacific region. in this endeavor, we couldn't ask for a better friend than taiwan taiwan is a democratic success story. it's a reliable partner. it's a force for good in the world. >> the operator of the tsunami-wrecked fuk

blackrock's rick rieder looking for a big move from ecb president mario draghi. >> we looked at companies'sted average cost of capital. the cost to get in europe is much lower. cost of equity is too expensive. i think the ecb will buy their equities. if i want to do, improve sentiment, look at the right if i want to do, improve sentiment, look at the right part of the capital stack that , is where the companies are having a tough time. jonathan: still with me to discuss is robert tipp, scott kimball, and krishna memani. krishna, your view on that suggestion? krishna: in this cycle you cannot rule out anything. having said that, if the ecb is buying stocks, we are basically at the end of the rope. that is what it would signal more than anything else. because everyone would have tried everything and basically even the germans are acquiescing to buying stocks at the central bank level. that would be something. jonathan: to someone with exposure to european markets, that would push you into de-risking? krishna: absolutely. that would signal to me that we are at the number world rather than thin

head of inshares at blackrock. more with her in a moment. snyder electric and the carlyle group are announcing a new global joint venture today designed to develop a new infrastructure project around the world. to them on spoke about the new partnership. >> infrastructure is a huge problem in the world and in this country in particular. call it a trillion dollar funding gap that needs to be met by the private sector over near team. the classification between our turn and schneider electric to bring central management and automation know-how, software, hardware, but most importantly design, to make everything we do more efficient and more sustainable and more appropriate for the 291st century. that will bring a fair amount of money. what is it that you contribute, and particularly what is it you are designing? what are you going to build? >> we bring you the technology to make all the infrastructure efficient, sustainable and efficiency, that you need for the future. we know that the technology is there. it is possible to do it we just need a

societe generale, michael collins, senior portfolio manager, and bob miller, head of fixed income at blackrockgreat to have you with me. let's talk about that support mechanism. low rates and why they can remain low for a whole lot longer. >> central banks want it that way. it is not just in the u.s. but globally, the ecb and the other central banks are keen on providing accommodation. if you listen to the fed speak this week, the feeling is that 2.5 is close to neutral, so they are pretty much happy keeping rates where they are for an extended period of time until they get an indication of moving policy either way. bob: i think the fed has pivoted in a very durable fashion and will not go back to last year's game plan. instead of following the methodology and trying to pin real neutral rates at some assumed level of neutral or tighter than neutral, they have clearly changed their reaction function to underwriting the expansion. they want the expansion to continue. they want to do something that most federal reserve's have been unable to do, achieve a soft landing. i think they are dovish, wil

of blackrock is a bad guy now mr fink was recognized last november by the crisis response group the international rescue committee for his spirit and passion for humanitarian causes real people guy charity and all that said the smell of money trillions does crazy things to you so no you can go on boycotting and criticizing saudi arabia but the guys with the money hold the strings they're interested it's business as usual. thanks of american diplomacy secular state mike pompei it was claimed the russians have been interfering in american politics since the one nine hundred seventy s. will continue to pose a threat for decades to come. the russians interfered it happened in the run up to the election in two thousand and sixteen that we have the we have the mission now to make sure this doesn't happen in two thousand and twenty there were threats or elections ninety seven four right and they interfered our elections in the eighty's and we should expect in two thousand and fifteen twenty fifty the russians will be added still i must say i was stunned at his reference to nine hundred seventy four and

of blackrock is a bad guy now mr fink was recognized last november by the crisis response group the international rescue committee for his spirit and passion for humanitarian causes real people guy charity and all that said the smell of money of trillions does crazy things to you so no you can go on boycotting and criticizing saudi arabia but the guys with the money hold the strings they're interested it's business as usual. cybersecurity officials of the united states are warning britain against allowing the chinese tech giant quire way to help build a five g. network their washington says the company's untrusted vendor in cooperation may endanger intelligence sharing with the u.k. if it happens where we really have here is a loaded gun is something that western democracies who value human rights should think very carefully about if they want to give that to an authoritarian regime with very different values about the uses of data for ways already conducted five g. trials in a number of european countries including france and germany the u.s. those accuse the chinese firm of money laundering fra