baker: we began with a state hospital in bridgewater struckr decades, was with tragedies but nothing was done. today with the help and support of the legislator and many others, bridgewater state hospital is a completely different place, and families that never expected anything to get better finally have hope. [applause] gov. baker: we began in the midst of an opioid crisis, and with death overdoses and prescriptions growing by double digits for more than a decade. it was the worst case of negative momentum i have ever seen. today, with your help and support, we reduced opioid prescribing buy 29% and opioid deaths dropped for the first time in a decade by 10%. [applause] gov. baker: we have made significant progress in many other vital areas that directly influence the quality of life for everyone here in massachusetts. for the first time, we are directing capital grants to vocational-technical schools to upgrade equipment and expand popular programs, providing students with real-world experience and employers with job ready employees. and thehips at colleges federal government and

[applause] we began with the state in bridgewater that for decades was beset by a series of terrible tragedies but nothing was done. today with the help and support of the legislature and many others bridgewater state hospital is a completely different place and families who never expected anything to get better finally have hope. [applause] [applause] we began in the midst of an opioid crisis with death overdoses in prescription growing by double digits for more than a decade. it was the worst case of negative momentum i have ever seen it today with your help and support we have reduced opioid prescribing by 29% and overdose deaths have dropped for the first time in over a decade like 10%. [applause] [applause] we have made significant progress in many other vital areas that directly influence the quality of life for everyone here in nasa two sets. for the first time we are attracting capital grants for book is not technical schools to upgrade equipment and expand popular programs providing students with real-world skills and experience and employers with job ready employees. public

bridgewater's billionaire felon -- founder called him a wonderful man. global news, 24 hours a day, powered by over 2700 journalists and analysts in over 120 countries. i'm emma chandra. this is bloomberg. mark: coming up on bloomberg markets, president trump is back in washington, facing contentious battles over issues like spending and duration. we are live -- and immigration. we are live in d.c. ♪ mark: live from london, i am mark barton. vonnie: and i am vonnie quinn. january shaping up a busy month in washington with another looming deadline for funding the government and president trump focusing on new parts of his agenda. joining us now is our chief washington correspondent, kevin cirilli. any idea what the president will turn two, first? -- turn to, first? there are some priorities, correct? kevin: i have spoken with several sources who tell me that the president wants to focus on infrastructure. that said, those deficit hawks that were quiet during the tax battle are not going to be quiet during infrastructure. several members of the house freed

people know bridgewater. they know ray dally oh. they do not know you quite as well.re you the yang to his yen? bob: a little bit. i would say we are great partners. i was fortunate enough to join up with ray 31 years ago. the company had just moved out of his living room, and i think when i went up to talk about the had justlped him -- i moved into the office and i helped him load books on to the library. we have been together since the beginning. i also had greg jensen, the three of us are really the team. erik: what are the biggest differences between you and ray in terms of personality, and the way you look at things and specialize in at bridgewater? bob: there is probably more in sync than indifference -- band difference. a central part of how we approach things is we have to come to agreement about how the world works, how markets work, and how to translate that into an investment strategy. say there is more in common, particularly on a values and culture standpoint. erik: he does certain things, and you must do other things. bob: ray is very big picture. he is

of omega one alex gordon bender who used to work with the largest hedge fund in the world bridgewater alex thank you for being with us it's a pleasure to have you here thank you so much for having me alex you reached out to me last year because one of the things that some porton to you at omega one and you personally is to do things in a transparent aboveboard way and you want to ensure that you abide by all the rules and regulations and you actually do more than is needed and disclosure for our viewers advising omega one in that regard but tell me how and why that is so important to you why you feel that in your bones well the book chain is the most transformative technology to hit finance possibly ever and there's such a huge amount of potential in digital assets and yet most of the noise and fury at the moment in the space is highly speculative a lot of scam artists promising instant millions and riches and this is a massive distraction firm the promise of digital asset technology. we are very committed to the future sort of institutional institutionalization of plot change technol

. >> bridgewater is back. then the vikings would for sure win. >>. >> at the's still not playing. >> did he say $5,000. >> i love how he said jag wires. >> i'm betting all my money based on the combos. >> thanks frank. >>> coming up at 6:00 we'll introduce you to a local african immigrant family who has some strong feelings about president trump's recent comments. >> but first a behind the scenes look at a pod cast that has >>> if you're a fan of pod cast like serial or this american life there's a new pod cast you might be interested in. in less than a week it's had chart topping success. >> a quick walk down an east ellis driveway and lindsey graham is at work. en music first got him in front of a sound board. >> honestly i was just playing guitar in high but found i'm okay on the production side. imagine it's 1919. >> there were songs recorded and audio books then a pod cast in early 2016 where he himself recorded the pod cast. >> it's early evening. >> american history tellers first episodes focused on the

an executive at bridgewater associates has been killed in a plane crash in costa rica.inberg and his family were among 10 americans killed when their charter plane crashed into a mountain sunday. ray dalio called steinberg a wonderful man. that is your bloomberg business flash. alix: this comes on the heels of the compass ceo dying in a plane crash near sydney with his cousin. it is unbelievable. david: terrible, all of these people with their families on a recreational trip, small airplanes. alix: do not charter small planes, apparently. david: it raises questions. the ceo from the british company. alix: compass point. david: what you need to do to's -- to support your ceo and make sure they stay safe. alix: the three drinks wall street -- things wall street is stevecoheout -- -- steve cohen's come back, mifid. i love the story. here are three points i want to illustrate. the client money could reach between $3 billion to $4 billion. the fees are crazy. two and three quarters and 30%. talk about two and 20, forget it. three and 30. you will also be dealing with an inte

of mega one alex gordon bender who used to work with the largest hedge fund in the world bridgewater alex thank you for being with us it's a pleasure to have you here thank you so much for having me and that by alex you reached out to me last year because one of the things that's important to you at omega one and you personally is to do things in a transparent aboveboard way and you want to ensure that you abide by all the rules and regulations and that you actually do more that is needed and disclosure for our viewers devising omega one in that regard but tell me how and why that is so important to you why you feel that in your bones well the block chain is the must transfer.

of mega one alex gordon bender who used to work with the largest hedge fund in the world bridgewater alex thank you for being with us it's a pleasure to have you here thank you so much for having me alex you reached out to me last year because one of the things that some porton to you at omega one and you personally is to do things in a transparent aboveboard way and you want to ensure that you abide by all the rules and regulations and you actually do more that is needed and disclosure for our viewers advising omega one in that regard but tell me how and why that is so important to you why you feel that in your bones well the block chain is the most transformative technology to hit finance possibly ever and there's such a huge amount of potential in digital assets and yet most of the noise and fury at the moment in the space is highly speculative a lot of scam artists promising instant millions and riches and this is a massive distraction firm the promise of digital asset technology. we are very committed to the future sort of institutional institutionalization of block change techn

state college, now bridgewater state university. i tell that story to say when someone says has there been progress in your lifetime, i have to say yes. i went to wesleyan university, the university of michigan. didn't have the challenges that my father had in terms of getting access to education. but if you were been in 1997, your arc of history is much shorter and it happens to be at a time when a lot of things were moving backward, not forward, and that is the background for this new edition of my why are all the black kids sitting together in the cafeteria and other conversations about race." in some ways the answer is the same but the context is different. it's with that opening that i'd like to now launch into our collective conversation. so let me pause there and see if you've got questions. you can even take comments, though i know i say that with also hesitation because i'm the speaker. let just be clear. okay. but i invite questions and even at commentary if someone is interesting in step-under forward. let's start there.

state college, now bridgewater university. i tell that story to say when someone says, has there been progress in your lifetime, i have to say yes, you know. i went to wesleyan university, i went to the university of michigan. i didn't have the challenges that my father had in terms of getting access to education. but if you born in 1997, your arc of history is much shorter and it happened to be at the time when a lot of things were moving backwards, not forward. and that is the background for this new edition of "why are all the black kids sitting together in the cafeteria?: and other conversations about race." in some ways the answer is at ie same but the context is different. and it's without opening that i'd like to know lunch into our collective conversation. so let me pause there and see if you've got questions, you can even take, to comply and i know i said with a little bit of hesitation, because i'm the speaker. [laughing] let's just be clear, okay. but i invite questions and given a little bit of commentary if someon

bridgewater has been killed in a plane crash in costa rica.the plane crashed. ray dalio called steinberg a wonderful man. the latest chapter in the "star winner,ga became a top taking in $533 million in north beating out2017, "beauty and the beast." that is your bloomberg business flash. tom: thanks so much. with eurasia group. ian bremmer to be with us shortly. francine lacqua in london, holding court with geoffrey yu of ubs. where can i make money in foreign exchange this year? i do not care about economics, i do not care about ian bremmer's deal politics and all that, i just need to make money. where will i see that move in foreign exchange? geoffrey: zero and on your ecb proxies. euro stock people talk about 10 to by year end, we took the -- we could be talking about nine. switzerland calling for a rate hike at the end of this year. if that happens, the dynamics of how the world views the swiss bank will change. tom: does mr. jordan of the snb have the courage to do what he did a few years ago and provide a stronger swiss franc? geoffrey:

strikes that began on twenty january must have had russian clearance if you are free in and none bridgewater for turkish backed forces will control a two hundred kilometer continuous threat of serious muslim border was to of the euphrates protect his main aim is to create a thirty kilometer saves all along its border which means the rest of the territory could be hundred over to the syrian government operation opens a new front in the near seven year long city and war which activists say has already claimed more than three hundred forty thousand lives a city of our friend could also have severe humanitarian consequences. still ahead on al-jazeera the devastating impact of yemen's conflict on the most vulnerable. a story of peace from a country at war we take a look at syria's first ever oscar contender. hello there plenty of rain and snow is working its way across north america at the moment you can see the system very clearly on the satellite picture there's a circulation running its way north was pulling plenty of mild air ahead of it but plenty of rain as well so it also weather in the so

an executive at bridgewater associates has been killed in a plane crash in costa rica. he and his family were among 10 americans killed sunday. ray dalio called him a wonderful man. south korea wants to hold talks with north korea next week about the upcoming winter olympics. agrees,ong-un's regime it would be the first formal meeting between the two koreas since 2015. south korea is hosting the olympics next month. the north korean leader has offered to send a delegation there to approve overall talks. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. on courtney donohoe. -- i'm horny donahoe. -- i'm courtney donohoe. we will tell you what makes his new fund different. this is bloomberg. ♪ mark: i'm mark barton with the european close, 13 minutes away. vonnie: steve cohen is back. stanford harvard capital is set dollars-fouree -- $3-4 billion. we are back with ron and matt robinson. what is different about cohen's new firm? just served a two-year ban for managing outside money. he hired quite a compliance team of

a bridgewater associates executive and family were among 12 who died in a plane crash in costa rica.were killed when the single engine plane crashed after taking off. for members of a family from florida, another american, and two crew members also died. ray dalio says the crash is a tragedy. at a better than expected pace, boosted by finance and insurance, gdp rose at a rate of 2.8% from the previous three months with steady growth and benign inflation. the government hinted it may raise taxes, while the central bank opened the door to tightening in october. south korean exports expanded to their highest in a decade, boosted by semiconductors, machinery, and petrochemicals. shipments surged to $574 billion, leaving a trade surplus widening to $96 billion from $89 billion in 2016 come exports leaving the bank to raise rates for the first time since 2011. that is your bloomberg business flash. positive indicators on the chinese economy and markets, the country is beginning three years of critical rattles against debt, poverty come and pollution. for more, we have our chief asian corre

bridgewater -- compton, 12 1/2 inches, let's look at some of the wind reports. this is a significant event. 70 mile-per-hour winds along the outer banks offshore. you have -- this storm is the real deal. it is not slow to leave. once it pulls out, the cold air comes in behind it. that will leave dangerous cold tomorrow and saturday, even into sunday along the eastern seaboard. when we come back, we will talk more about our -- our next chance of rain. >>> a 22-year-old man is facing charges in the death of a chp officer on christmas eve. we will bring you more on the case after the suspect alleged --. we will bring you more coming up. >>> second-degree murder charges were filed against a man accused of killing a chp officer in hayward. the 22-year-old suspect was drive -- driving 120 miles per hour when his car slammed into the back of the cruiser on christmas eve. that is one of the topics of this week's talk. good to have you. let's talk about it. you are a defense attorney. this man has already said, i was at a party, i was drinking, i was smoking pot, and he

we look at haven bonds, they are selling off, and bridgewater's, and talk about the possible to of beararkets for bonds. however, it doesn't -- that haven yen is up 1% against the dollar. that could reflect what you are talking about treasury secretary steven mnuchin's comments about the weak dollar. perhaps a bit more risk off flair, but if you go into bloomberg and look at the map for the s&p 500, we see more sectors are lower on the bottom. helping explain why tech heavy nasdaq is underperforming. we also have the influence of those rising yields -- the andor of both real estate utilities on the bottom. financials, interestingly on the top. it is interesting to see what is happening here. the third worst sector is the industrial sector being jack down by ge. ge down by 3%. ge is lower, and this has to do with the fact that the company did, despite maintaining full-year guidance, they announced a probe around a 6.2 million dollars chart. a break.ey can get abigail, thank you for that. coming up next, the secretary will tell us what he thinks of the trump administration's leak summary

i am watching bonds after we heard from bridgewater's ray dalio.limbing come and look at what that is doing to the 210 spread now, wider to 58 basis points, david. david: thank you so much. earlier today, saudi aramco's m&s are -- amin nasser spoke with bloomberg. amin: stronger in the second half of 2018, and my transaction team is currently waiting for the decision from the shareholders. there is work that needs to be exchange,e stock definitely in saudi arabia, which we are here for, but we are open in saudi arabia, so as a company, we are ready, hopefully we will be listed by the second half of 2018, but we are on the second venue. francine: to you think that the government is in agreement?? what kind of things are they looking at? amin: we also have an issue with this decision. is a majoro contributor to the gdp of saudi arabia. so a lot of information with that, the government committees have been looking at listing saudi aramco different, exchange decisions. each need to be evaluated. ultimately, needing to come up with a decision on pros an

carson wentz is meant to be the backup to sam bradford, until teddy bridgewater goes down in minnesota eagles trade sam bradford to the vikings which i guess he is there already, carson wentz becomes starter. in the meantime nick foles signs with the eagles and case keenum signs with the vikings. >> um-hmm. >> and that is where we have this set up here, sam bradford gets hurt, case keenum becomes starter, carson wentz gets hurt, nick foles become starter that leaves with us sunday's match up. >> wow. >> wow, well done, well done. >> you the man. >> thank you. what, we have to run. >> coming up after the break in a league that features names like wilson, rodgers, brees, foles, keenum and last qb standing which backup has edge in the nfc champion ship game? let's ask anthony gargano now that we know who they are, who will win the ,000 in america last year. we need to stand up and say enough. the only way this problem is going to be solved is if we raise our voices. choose help over helplessness, hope over hopelessness. make sure that the lives we've lost will not have been lost in vain.

bridgewater has comments saying it's a bubble. be careful on that one. last but not least, i mentioned tax overhaul to benefit companies, in particular shake shack up 8% on positive comments from suntrust, saying that restaurants, top and bottom line will benefit. consumer spending will help. people are going into these restaurants and buying a little more, being a little happier as they eat their burgers. david: we like shake shack. nicole. good stuff. thank you very much. >>> on to commodities. phil, oil was down a little bit. settling down at highest level in three years, 61 bucks a barrel. how will all this affect gas prices? >> i think gas prices are going back up. initially they didn't, dave. we saw heating oil prices go up, gas prices go down, because it was so cold, everybody stayed home. they didn't drive. people have to go back to work. demand will go up. they can not deny the fact oil prices are on a tear. 62.50 was the old high in 2015 if they take that out it could go up a lot more. demand is strong. strong ism, strong for demand. gold price

bridgewater founder described him as a wonderful man.s -- north , according to the south korean government, a in 2017 used a computer to mind coins worth around $25,000. south korea's biggest carmaking group has forecast a slowdown in .ales as political risks cash after setting a record goal in 2017. protectionism and dangers posed by geopolitics are threatening their performance in the world's major markets. that is your bloomberg business flash. juliette, thank you very much. are heading allies into the second year of supply cuts to wipe out the global oil glut. tensions and a wild into the market mix. alex, let me bring it to you. the oil market is starting bullish. is that the opec non-opec deal? alex: on the opec deals site of the equation, it has been the first thing to underpin the market. opec --s say whatever early last year there were noises about cutting for six months. initially, some say it is a sign it is not working. i think it underpins the market. manus: there is also the proposition from the fracking community in the un

the bridgewater founder said the crash is a tragedy.them remove propaganda more quickly. the sunday telling times that some of the biggest names are too slow to erase such content and the government should be compensated for the money it spends the radicalizing people. warnean union leaders companies they must remove terrorist content within two hours. latestope in 2018, the chapter in the star wars saga was last year's top grossing film after pocketing $68 million in north america over the holiday weekend, taking its domestic total to $533 million and beat the mark set by beauty and the beast. the last jedi has pulled in more than $1 billion. it is that time of day where we check on the indian session, markets getting under way. the rupee stable. the move to the upside for equities as well in mumbai. theoes come against backdrop of indian lenders facing scrutiny as ministers in the reserve bank try to deal with more than $200 billion of so-called debt. one of the biggest state run banks says it will be able to avoid massive losses. is

children as a part of the great migration moved to massachusetts and became the first professor at bridgewater state college now bridgwater university. i told the story to say when someone says has there been progress in your lifetime i have to say yes, you know. i went to wesleyan university, the university of michigan. i didn't have the challenges that my father had in terms of getting access to education. if you were born in 1997, your part of history is much shorter it happens to be at a time things were moving backward and not forward and that is the background for the new edition of why are all the black sitting together in the cafeteria and other conversations about race. in some ways it is the same and others it's different and it's that opening it was like to launch to the conversation. let me pause and see if you have questions. you can even make comments though i say that with a bit of hesitation to cause i'm the speaker. [laughter] i invite questions if anyone is interested in stepping forward. [applause] use the microphone a because we are going to be on television. >> my name is

by ray, i will be joined dalia of bridgewater. amongst others. manus, anna? check in on these markets. it's going to be about the dollar. the bounce unsettled the u.s. markets. unsettled slightly on the european equity sessions. europe is opening a little bit firmer. blackrock and ray dalia both warning against sitting on your cash. dalia says it's stupid to own cash in this environment. good for stocks, bad for bonds. too much savings on the sidelines. you are seeing these equity markets all add to their gains even though george soros is warning that the trump administration might be a danger to the world. the topplingredict stock market and went on to rally. we are on gdp watch. anna: let's look where we are on the asian equity session. coming back a little bit. we have the australian markets closed. a holiday there. getting a little bit of a celebrates reduced, perhaps. dollar weakness, of course, is the biggest story there. that's a we continue to see. the comments by president trump, a cacophony of comments. officials of the trump administration commenti

bridgewater associates executive and family are among the ten americans killed in sunday's costa ricane crash, cheryl casone with if details this morning, cheryl. cheryl: yeah, morning, bridgewater's founder said in a statement bruce and wife irene and three sons were killed in plane crash, the youngers matthew and oldest, there were no survivors, costa rican investigators are looking into what caused the plane to go down strong winds is a possibility, they're still investigating the crash today. fife other americans and two costa rican members were also killed. complaints about robo calls jumped sharply last year, the federal trade commission it received 4.5 million robo calls complaint, in 2016 there were 3.4 million complaints, experts say that the robo calls are getting more and more because of cheap access to internet calling services and auto dialing technology. well, major trouble for taylor shift, pop star's reputation tour is being disaster, they are upset over high-ticket prices charged for tour. one person claiming one seat is costing her $500 and that's not all according t

toryone from warren buffett bridgewater's ray dalio, and you just heard mr.k. go risk is that things could , turn very ugly very quickly. there has been an extraordinarily volatile ride, even though the gains have been astounding. melt down ifkly there is some regulatory risks, money laundering risks, or other rears itsg issue head, so one of the hedge funds aself said invest as much you can afford to lose completely, and that seemed like sound advice. haslinda: sound ice into the -- advice indeed. 1.2%.ng seng up i the hong kong index came close historicalo a record. our gadfly columnist joins us now. record. confident of a why is that? >> it is not a tall order to break the record. the hang seng we see is inferent from back then 2007. if you look at the index composites, china mobile was the , now it isght replaced by tencent holdings. china mobile and tencent holdings are complete different companies. one is state-owned, the other has a good track record. his performance, it has reported investors. last year, it more than doubled. yvonne: the macro landsca

bridgewater associates chairman and founder told us last week in davos we were already in a bear marketare more sensitive. a 1% rise in bond yields will produce the largest bear market in bonds we have seen since 1980, 1981. >> has that bear market started? are we in it? >> i think we are in it. david: stewart warther is joining us. what about this bond? selloff. ? we are seeing it around the world it feels like. stewart: i think we are and i think we are in a think comments from the ecb are not helpful. what we are looking for is after relentless flattening in 2017, potentially a steepening, particular the 10 year sector. are is what rate strategist looking at. on the equity side, i think the question is when does that spillover especially when you think about the cost of equity, it's essentially the 10 year yield plus equity risk premium. i think we are starting to see signs of that this morning. 270 we all the way up to did not have sensitivity and now we saw weakness in the utility sector. finally i think we're starting to see a broad market decline at least on the back of higher yi

ray dalio, founder and chairman of bridgewater.eak: asia coming your ♪ catching a falling knife -- ge reports fourth-quarter earnings taking a hit for the quarter, but standing by its forecast for 2018. live from davos, we hear from james gorman, ceo of morgan stanley. and the dollar continues to weaken and treasury secretary mnuchin says that is a good thing -- at least when it comes to trade. welcome to bloomberg daybreak on this wednesday, january 24, i'm david westin. theill get you a check on market with taylor riggs. taylor: the biggest story of the day arguably is the weaker dollar. here is the bbdxy index, lower after steve mnuchin said a weaker dollar was good for american trade. bearing the biggest front is the yen, the strongest relative versus the dollar going back four months. futures are upp after poking record gains yesterday. david: thank you, taylor. ge just reported earnings for the fourth quarter with a slight miss on adjusted earnings per shar

[applause] francine: radel io, bridgewater associates founder, the financial research chairman, and then of ubs. thank you for joining us. we will start on currencies -- we will get to inflation in a secon.d there's been so much talk as to whether we are entering a phase of currency wwaars. if we are, how much does that complicate the world of central banks? >> hello. good morning. war is the last thing the global economy needs today. ratese in a world where should not be targeted for competitive purposes. let's stick to that. and we see a lot of activity being created by different statesman. and any discussion on the acceleration should be sent back to where it belongs. that is where the discussions should take place. volatility is, helpful. any unwanted tightening of policy, we would have to reassess. francine: the u.s. treasury secretary shows up. weaker, andlar is he says that is better for trade, but his boss says, we are targeting a higher dollar. is that currency wars? >> no, it is not. the u.s. position has always been outspoken to focus on the strong dollar being in the interes

among the newsmakers joining omcky, andrew and we have ceos fr paypal, uber, bridgewater we will be righte can investors seek predictable income in an uncertain world? pgim sees alpha in real assets. like agriculture to feed the world. and energy to fuel its growth. real estate such as e-commerce warehouses. and private debt to finance transportation and infrastructure. building blocks of strategies to pursue consistent returns over time from over one hundred fifty billion dollars in real assets. partner with pgim. the global investment management businesses of prudential. ♪ ♪ >>> welcome back to "squawk box. let's get a look at how everyday investors are feeling about this market joining us is charles rockblood. charles, good morning. >> good morning. >> so we think, you know, flows have picked up from individual investors joining the party. are they starting to feel better about the rally and how long it can actually last? >> yeah, i definitely think there's an uptick in optimism. we saw it really coincide when the tax bill passed, and really over the last five weeks we've seen sentimen

. >> ray dalio is the founder of bridgewater, chairman, chief investment officer we're always happy toeas about where you think the market is and how the machine, we've always talked about the machine and your principles work right now. so where are you >> so i think we, let's particularly talk about the u.s., but i think it's generally true of the world, we are in this goldilocks period right now in which we have had a beautiful leveraging the inflation isn't a problem. growth is good everything is pretty good with a big jolt of stimulation coming from changes in tax laws and such that is going to at the part of the cycle where the -- at the later part of the cycle if you look at the operating rates, you look at the gdp gap and measures, we're going to have a jolt of stimulation into that and there a's a lot of carbosh h sidelines. banks have a lot of cash corporations have a lot of cash. i think we're going to be inundated with cash. i think that's going to produce a lot of stimulation and i think perhaps a market blowoff in other words, we're in a situation where if you're homing ca