we should give the authority to the cios. one of the problems that you have in the federal government is is the person usually that is buying the service is not the person that is using the service and that creates a disconnect. that is why you have sometimes procurement officers that don't have experience in the technology that they're trying to purchase and that is when you create problems. we have problems where the cio is, doesn't report directly to the agency head or the deputy agency head. that just doesn't fly in the private sector. the private sector it ceos recognize that your i.t. group is not just a cost center, it is an entity that can help drive innovation. it is an entity that can help improve your bod line and we need the federal government to start thinking that way. these are some basic things smart people are trying to bring to the federal government that insure that we have the federal government being inno straight tiff in how they -- innovative how they defend our digital infrastructure and how they by se

we should be giving the authority to the cio's. the problem with the federal government, the person who assigns the service is not the person using the service, and that creates a disconnect, and that's why you have procurement officers that don't have experience in the technology they are trying to hurt us, -- chase, and that will create problems. the cio does not work directly to the deputy agency had. that does not fly in the private sector. the private sector ceo's recognized that your i.t. group is not just a cost center, it is an agency that can drive interbank -- drive innovation and improve your bottom line. we need the federal government to start thinking that way. these are basic things that smart people are trying to bring to the federal government that ensure that we have the federal government being innovative in how they defend our digital infrastructure and how they provide services. passed theas house. what is the push back in the senate? rep. hurd: the senate takes its time, and i am sure we will get this piece of

a federal cio is a high priority because of the rolled up in place. this is a problem that has existed for multiple administrations and you can't just point to one as being the problem. >> understood. i want to talk to you about broader cyber security's record. we saw the big global outbreak of the ransom where where people's computers were held hostage essentially by cyber attackers. we are now seeing a new kind of attack that is surfacing in the news. what is going on here? is this the wave of the future? is this how do we combat this? >> the want to cry is a good example of before it really hit the uk and broader europe months before that you got hospitals in california dealing with this issue of ransom where. hospitals across the country revealing their a digital hygiene and what they need to do and that's why you didn't see want to cry have the impact on the united states but yes the number of attacks that are digital infrastructure and i'm talking broadly, it will increase the more interconnected our economy and society get. the number of connec

i want to bring in mark kiesel, cio of pimco credit.you believe what the treasury markets have been saying over the past few days? mark: betty, we do. pimco has been buying treasuries. we have seen the market as attractive. importantlly what is to understand is that real growth in the u.s. economy is only over 2%. this fiscal stimulus the market was romancing, those expectations are coming down. we are seeing that with trump and obamacare repeal, which is proving difficult. it was pimco's view that would be challenging. secondly, low inflation around the world. inflation is relatively benign. the u.s. treasury market and corporate bonds look good on a yield basis, particularly to foreign buyers. you saw that in the tech data. foreign buyers are picking up. with u.s. rates higher than japan and germany and low inflation, investors around the world find those bonds attractive. betty: they still do. let's pull up this chart. basis it supports what you are saying. you have the 10 year yield just today, breaching passed to this red line, the

he came to the afl-cio convention here. again, before he announced his candidacy, he was laying the groundwork for his eventual run for the presidency. an itinerary of one of his trips to oregon, he came here several times. two years before the election, he was laying the groundwork, coming to oregon. 1960, and oregon senator announced his favorite son candidacy. kennedy took a risk. if he could beat morris in his home state, he could show his national appeal. he did beat morris here in oregon. that was a key victory on his road to the nomination. wanted to run every primary to show he could win. some key victories were in wisconsin. that aed to show catholic could win and a protestant state. and oregon, he wanted to show he could win out west. he thought the key to his to run andld be regions of the country and show that even as a catholic which was thought to be a huge detriment back then, one of the items in this exhibit, this letter from the head of the oregon masons. they said people should oppose kennedy because he is

matt: still with us is the cio of royal london management.you can pronounce that insurance company. having been a european fund manager in my early career, yes. matt: very impressive. when we look at this relationship, it's taken a turn for the better. it seems to me, although obviously trump has had not very nice things to say about harris and macron has had some pretty disparaging things to say about trump, as well. it seems they are cooperating quite well. guest: you are seeing signs that trump has not had political experience before and the weight one would respond to a domestic economy, where you are trying to focus on putting america first and the great outlook, you tend to be offside about international diplomacy. it's only now that he is going to meet politicians around the world, the message seems to change with each geography goes too. he understands about historical relationship with that country and the united states. it's his achilles heel in many ways. surprises whent he came president, ragan was not dissimilar. he put people in

the global cio at ubs management.on the show, europe's biggest banks beat the estimates. more with the hsbc finance director. this is bloomberg. ♪ 24 in hong kong. -- 2:24 in hong kong. i caught up with the chief financial officer, the finance director to get his first interview of the day. very hard for us to consider a country other than france or post-brexit operations. for us the transition represents up to 1000n possibly boys from the u.k. banking opportunities. transitioning up to 1000 employees to support our customers. a very natural move for us. all those capabilities and technology and capability are already present. tois the most efficient form adopt. the world plumbing of of finance is in london and it is a darn hard thing to get the whole thing to move. would you concur? there is a lofty challenge to moving the plumbing. >> exactly right. london is the foremost financial center of the world to at the drop of a had try to re-create that outside of london with the and manage theve complexity around that. a

this is bloomberg. ♪ ♪ haidi: let's bring back the apec cio with deutsche bank wealth management.straction, from trump's policy agenda. is there a sense markets are ignoring this, or have they priced in that there will not be in the progress when it comes to the reflationary, progrowth trump trade? >> if you look at euro-dollar, disappointment with the dollar weakening. you look atif equity markets, yes, it looks like the markets are in ignoring hit. .- it there has been a lot of positive , especially tax cut reforms. we are not expecting anything to happen before 2018, so if this is coming at a later stage, then earnings revisions have to come down and can lead to some market correction, yes. haidi: what do you think is the biggest risk? dislocationl-bank or policy missteps? or are you looking at china given this tightening of financial systemic risk campaign is starting to heat up? is there a chance conditions in china could actually get more volatile? not rule this out, but when you talk about china, if i look at recent data, it looks stable, even though the government and pboc

he came to the afl-cio convention here. i was in seaside, oregon in 1959. again, before he announced his candidacy, he was laying the groundwork for his eventual run for the presidency. an itinerary of one of his trips to oregon, he came here several times. even in 1958, 2 years before the election, he was laying the groundwork, coming to oregon. he came again several times in 1959. in 1960, after he announced his candidacy, the organ senator announced his favorite son candidacy. kennedy took a risk. if he could beat morris in his own home state, he could show his national appeal. in may of 1960 come he did in fact beat morris here in oregon. that was a key victory on his road to the nomination. kennedy wanted to run every primary to show he could win. some key early victories were in wisconsin and west virginia to show that a catholic could win in a protestant state. he came out to oregon, hoping to show he could win out west. running against wayne morris, our state senator, kenny thought the key to his victory on to getting the nomination, would be to win

chamber of commerce, the president of the afl-cio, the truckers, triple-a, republican legislators -- aaa, republican legislators, people across the country who talk about the need to rebuild america. make our communities more livable. our families safer, healthier, and more economically secure. sharyl: jat yields back. the chair recognizes the jafment minnesota, mr. paulson, for five minutes mr. paulsen: spreek, we continue to hear about the challenges for ol college students who borrow more and tuition ratesgher and saddled with huge dead lotes they will have great difficulty paying back. the average debt for a four-year college student today is nearly $37,000. we need to explore new ways to ensure every student has the opportunity to go to school, develop their schools, and pursue their dreams without feeling deterred by the price tag. i think we need to look at a new approach. an approach that would help students pay for college. it's a concept known as an income share agreement. it's tuition rates and a concept that would allow students providing them the funding that they agree

every state have the chief information officer that reports directly to the governor and does that ciohave a seat at the table in most all decisions especially any purchasing decisions because as i mentioned earlier, a lot of it is about thinking about the architecture of your system. so as the different universities, hospitals, and he states are thinking about the architecture design to be cyber resilient and have some standards around things like authentication or multi-factor authentication. so i think there's a lot of opportunities where the fiber resiliency can be built into systems and it's not at an additional cost. it's about thinking about an overall architecture and having someone designate that has oversight and influence into the state level decisions about what systems are procured and what the requirements are. but the most important thing to do. do. the gop is our technology enables show you how it works. i'm beginning to sound wicked broken record on the scale but how you scale your people use them as effectively as you can so you can get those fundamental problems solv

paul: i have a coat ceo -- co-cio, he has been with me since 1989.at time, we have more than just complete each other sentences. the impulse of the hedge fund idea is independent of thinking. it is the opposite of investing by committee. and the earliest hedge fund folks of course were by themselves, they were privateers in the world. and i never thought that the to inwould be susceptible organizational approach. a team approach. and i actually never really thought i would be able to be a good manager and a good team leader. the way it works is a layered process by which we attempt to train people to accept responsibility to deliver trustworthy insights, inputs, to have done the work, to have commissioned the work, but john or i generally approve every, every meaningful position, and certainly every -- we have deep discussions about every large position. david: you have an image of being a person that strikes fear in ceos. you must make as are afraid to get a call from paul singer. does that image bother you? that you have an image of being a tough p

jonathan: joining me around the table, the cio at oppenheimer funds, the alternative fixed income strategistt jpmorgan, and the chief investment strategist and head of global bonds for pgm. chris, let's start with you. does that payroll change anything at all for the federal reserve? >> not really. the fed was committed to tightening policy anyway and this gave them more support,. whether it is the right policy or not, you can talk about. but at the moment, they are tightening, and doing something either on the balance sheet or the policy rate front pretty soon. jonathan: a guy from new zealand, talking about the relationship between unemployment and inflation. the phillips curve is what came out of that. where's the reflation? where is the wage growth that comes off the back of the wage growth? >> that's obviously the big question on everyone's mind, but let's remember a couple things. what we are seeing is a broad synchronicity in terms of global growth recovery. we are continuing to see that, in the headline number supports that further. that is perhaps what's driving this broader easing

london, alan higgins, cio at coutts & company. there were some in a different items on the agenda, 70 bilateral taking the conversation in different -- so many bilateral taken the conversation in different directions. where would the focus before you as an investor? -- where was the focus be fore you as an investor? reporter: from an investor point is view, what does thsi mean? a weaker u.s. dollar. the chinese yuan, very stable. but for currencies that have big account surpluses, and have trade, remain strong. for us in europe, it is all about the euro, and the huge trade surplus in germany and the euroarea account surplus. we are positive on the euro. it reinforces that we don't worry about tariffs. we are not worried about tariffs. even obama did tariffs. reagan was famous for his tariffs. 'etre, i raison de' thought with the g-20, was to boost trade. but the u.s. comes in with a phrase which is, the u.s. has trade defenses. andare markets upset, you're not? >> markets have seen tariffs as well. manus: bonds are down as well. >

steen jakobsen, cio at saxo bank.mberg customer, you can watch this using the t < function. we have got a bunch of events coming up. you can watch these live. you can also access these at live on your bloomberg as well. we have the schedule down here, in terms of what we have coming up on "bloomberg surveillance," bloomberg tv, and bloomberg radio. you can click into the video stream, plus the radio stream. turnaround. we will discuss the pharma company's future. this is bloomberg. ♪ guy: welcome back and you are watching the open. we are getting a big move on erickson, a company with a new ceo in place. the market was expecting a little bit more not delivering. this stock is now down by 11%. when it was down by 10% it was the biggest move since october 12, 2016. the stock is continuing to struggle. the ceo is still targeting double the margin. so, trying to at least alleviate some of the move this morning, but the market continues to drop this stock pretty hard this morning. 54.90 is where ericsson is tradi

renovation and improvements were made at other pools and trenton mayor eric jackson visited with the ciopers at cooper pool and perfect time to be open. >> no kidding today is not too bad and philadelphia looking good. lots of clouds around and sunny breaks as we go through the day. 88 in readling and a lot of upper 80s in the northern and western suburbs and a sflifrt 86 is the high in philadelphia and down the shore upper 70s and mostly cloudy and warm and a hopefully a shower misses you they look spotty. >>> a look at stories coming up on "action news" at 4:00, anger in margate as crews begin a major dredging project that will leave popular beaches shut down for weeks this summer. we are live with reaction. and speaking of the beach a sand sculpture got attention in seaside heights, the elaborate design poking fun at chris christie. don't forget to join us for "action news" at 4:00, 5:00 and 6:00. for the entire "action news" team i'm alicia vitarelli have a great day. for mom" per roll more "doing chores for dad" per roll more "earning something you love" per roll bounty is more abso

team, make sure you bring in your adjunct general, make sure you bring in your national guard, your cio, get your whole team. as a governor i would call everybody into your office, into your conference room, make sure they have this so they know what they have to do. it is critical that you bring your national guard in early to make sure there's the sharing of information and they're part of the process in your state. i also want to thank the governors for -- we have signed a compact here for "meet the threat." we have 38 states. i thank those governors who signed on to this compact. we will now have a continuous dialogue as we go forward. as i say, this is an evolving space. every day there is something new as it relates to cybersecurity. our team and the private sector folks here, i want to thank them for help using stay up-to-date. i want to thank the corporate sponsors who funded this initiative. on behalf of the national governors association i want to thank all of the folks that have been part of this process. now i will adjourn our first session and we will see you a little bit t

does every state have a chief information officer that reports directly to the governor, and as that cion most all decisions, especially any purchasing decision. as i mentioned earlier a lot of it is about thinking about the architecture of the system. as different universities, hospitals, any state things, thinking about is the architecture design to be cyber resilient and do you have some standards around things like penetration or multifactor authentication. i think there's a lot of opportunities where the cyber resiliency can be built in the systems and it's not at an additional cost to gets about thinking about an overall architecture and having some a designated as that cyber czar that has oversight and influence into state-level decisions about what i.t. systems are procured and what the requirements are levied on those. >> governor, i can't say i have a direct answer for you. i don't have a great percentage. i really wish that i did but at the end of the day i'm actually a pre-simplistic i tried to back the basics and do the simple thinthings right. when you think about the ways

jonathan bell, cio at stanhope capital. up next, the battle for brexit laws begins.resa may is set to unveil the repeal bill, which will take the u.k. out of the eu, swapping the legislation to a u.k. legislation. it will be unveiled later today, but with opposition from both sides, it looks like it will be political trench warfare from here until the autumn. that story next. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open," and i'm matt miller. alongside me is guy johnson. we have a pretty mixed picture with stocks, but we are at records along the individual indexes. let's cross over to nejra cehic for your mid-cap movers. reporter: i'm looking at two gainers. starting with backup international. shares are rising, up almost 3%. they have risen as much as 3.7% at the open. the pipeline is stable, trading in line france, including a 15% improvement for french foods. that is the ceo confirming the goal of 10% full year e-bit gro wth. we also have the second quarter sales growth coming through, also the revenue number and a positive reaction

but i'll spoken personally to many presidents and cio leaders who are saying that foreign aid often spend isn't as you stolen bring sometimes as much about things as good things maybe trumps cabinet is right actually in cutting what it sees as a wasteful spending first of all the congress makes a decision on spending and i don't think president crimpers going to get it is thirty percent cut in the state department or the united nations so it won't happen because the congress are strong supporters of foreign aid programs because they are advance or security or economic or educational interests so but it's still sends a message that the united states is retreating that it's isolationist that international agreements and international assistance is not a port when it is when you've got so many other problems like endemic diseases countries and abra three. women's being abused these are funding programs that advance us and dreams begin to break right now when we're rad will continue talking to governor bill richardson about donald trump's policies and how successful he is and implementing the

to see the movie movie right yet told the little hours about bad nuns came up with this because the cio it's based on the to cameron from the fourteenth century which is humorous it's sort of like the canterbury tales but about italian nuns and priests and their bad behavior so there is this sort of true oh it's not true but our director jeff sort of took that source material. and then we speak very contemporarily in the movie and it's just a look there are true aspects to it in the fact that women in the fourteenth century didn't become nuns because they were especially religious it was much more about social standing and you know. if they were unwed or if their family didn't have money it was things about like that so this sort of explores the idea that all these women are stuck at this convent but they still have sexual desires they still you know they still have anger and resentment your husband is in that right he is yes and he gets he's he gets physical with a lot of women is going to say here i got to be romantic and then he also gets to be romantic with every other girl in the m

sent in a massive police forces and one protester was shot even and in two thousand and seven he had a cio eight summit in germany in the city of highly can also have been the norm for them and then we had also a message to terrorists and i think it's really this feeling of undo that. global capitalism really and to build a system that we have is the failing most of the people on this planet miserable. now seeing a very high level of desolation very early on the mayor of. promise a festival of democracy around the cheetah twenty summit and it doesn't look quite look like it's i mean it looks like a civil war. one is coming away right after this break. what else seemed wrong. why don't we all just don't hold. me to old yet to say proud disdain come out to play and in the game should be close to trail . when so many find themselves worlds apart when just to look for common ground. it's called the feeling of freedom for. everyone in the world of experience for me and you get it on the open road. the old according to just. welcome to my world come along for the ride. welcome back russia's fore

rick rieder, blackrock cio of total fixed income and alexander acosta, u.s. secretary of labor.mberg. ♪ ♪ jonathan: an upside surprise for the june payroll report. the unemployment rate at 4.4%. 220,000 jobs added. joining us from princeton is -- date onme about the race and what it means for the federal reserve? >> even though wages were up a little bit year on year, month on month, they missed expectations. were is still this quandary have in the labor market, where we have very strong labor market with not a lot of inflation or wage pressures. the bond market, a really the numbers came out, focused on those numbers, where inflation breaks even. that has been a trend you have seen over the last month or so, where you have seen lower inflation expectations but higher risk in what we call real yield. the about people want over inflation. that is stemming more from the , where the ecb has been pushing the bond market higher. it is not because inflation expectations are rising. jonathan: for the fed, is this a case of confirmation bias? believe the jobs economy is fine, this will

metlife cio steven goulart joins us with his strategy. much more straight ahead.eaking news for you. adnoc's is abu dhabi's national all company. ofy are planning a sale their services unit and could seek as much as $14 billion. you have saudi aramco also spinning of some of its business, going public as well. you have the abu dhabi state national company announcing it ahead of that. you have these stressed opec nations, oil companies needing to diversify revenue. this seems to be a popular strategy for adnoc. bond: it reminds me of the market. last year, rumors that saudi arabia would go into the bond market, and then other gulf nations went in first. alix: qatar had a killer bond offering. the abu dhabi state oil company, will be ipoing part of its unit. focus it is now time to on technology. this is the weeklong focus we have, bloomberg's focus on tech week. this is where we bring to bear the all-important tech sector, the full breadth and depth of bloomberg's expertise and global reach. today we are focusing on snap, shares falling for the first time below the

the hall of them are a renaissance and fluence the setting of luke cage yeah certainly the show on a cio but our culture is as a historian of sorts and he definitely implements that into a lot of what we see you know a lot of the you know the club environment a lot of the dress the people things that people wear a lot of the way that people interact there's there's something that is very. very aware of it for fathers of bring a large black audience to the show sure sure does jill aberdeen as what do people get wrong about south carolina that people or i guess i guess i guess people or people are not as as as smart as other people in the part of the world you know look down on so yeah yeah they look down to south that they think there's not a lot of good that comes from that why you go to rutgers i was told that it was a good place to go based on a professor who i trusted as soft on he said you know i have friend there bill esper good acting teacher i think you'll do well there this is what i think should go you know you want to be an actor yeah yeah it was an eagle to his reputation it's

vickie, cio. dave bass, terrence lili, keeps me out of the drink more times than not.the sergeant at arms is responsible for the safety and security of the senate as you pointed out. emergency preparedness and continuity operations, information technology and telecommunication support, access control, transportation of parking, printing and graphics, facilities main nant, -- maintenance, furnishings of office, employee assistance, contracting and finance support, training and education senate pages and intern programs and photo studio and finally hair care. again, it's a diverse organization. a lot of responsibility, a lot of moving parts. the silent team of highly competentes behind me and before the hearing work behind the scenes every day for this institution. i have folks on the job from one week to over 40 years. quite a legacy of service within our organization for this -- for the senate. they're innovative and constantly learning, forward-leaning and responsive and very much customer focus. we are the problem solvers for the senate. we work in close partnership

the afl-cio unions should represent factory workers. there should be a public discussion of how much -- what is going to happen if we don't bring back manufacturing. i think of it this way. we can live through it in our generation and our children can probably live through it, and i'm not sure about my granddaughter, who is here. but we are going to get to the point where, right now, we buy stuff from china, we pay china in dollars, china takes the dollars and invests them in treasuries, u.s. treasuries and securities, and we then take the dollars they invest and good back and buy stuff from china. at some point -- i'm using china -- asia -- at some point there's going to be -- the chinese are going to say, no. there's going to be a shift from the dollar as the international currency to something else as the international currency, and that of course happened between the world war i and world war ii, with the pound, the british pound, and the u.s. dollar. when that shift takes place, we -- what are we going to do? we can't pay import wi

manus: our economy and toernment editor and the cio discuss. welcome to london and good to see you.nk you very much for listening. -- here you go. kuwait, qatar, the kuwaiti moderator. a littleature bringing bit to bear here? is rex tillerson moving the agenda forward? >> as what we have seen. two things are going on for him. countriesom all these from his days at exxon -- he has ties from all these countries from his days at exxon. beginning, there were doubts about what the u.s. relationship. now we have one person in charge of that. two days ago we saw the first tangible step toward a solution with the u.s. and qatar signed on financing. the saudi's said this is not enough, but it enables rex tillerson to say take that off of your list. we have signed that. we can guarantee as. let's go on to the other demands. the fact he is going to bet -- back to tour again without us knowing is there a deal, that is a positive sign. they willkeep --anna: keep going until their demands are met. any sign from them as to where they go next? said thesting, they demands that they made at the begin

march 30, 1981, 2:25 p.m., ronald reagan spoke to the afl-cio at the washington hilton. is just a few weeks into his presidency. -- he is just a few weeks into his presidency. the press is outside. they yell out to him. he lists his arm as if to deflect questions. john hinckley is waiting outside. hinckley is not part of any international conspiracy. he was just trying to get the attention of jodie foster. that was it. he had a crush on duty foster and he was tried to get her attention. he pulls out a pistol, using .22 devastator bullets, which explode on impact. reagan was shot underneath the arm. jerry parr, the secret service agent, thrusts reagan and the limousine and lands on top of him and orders the driver to take off. and reagan says, jerry, get off of me. i think you broke one of my ribs. he sees frothy bubbles from reagan's lips. he ordered the driver to go to george washington university hospital. that split decision probably saved his life. it was reported by some news organizations that reagan wasn't even hit, and if he was head, he wasn't badly wounded pair

according to the report, 97 members took leave to be part of an afl-cio program that sought to help elect hillary clinton and other pro-worker candidates. in union newsletter in the fall of 2016 showed some bias. writing "the article praised clinton's record and announced the national association of letter carriers support for the following candidates for u.s. senate in six priority battleground states." all were democrats. the report says violations are systemic and likely started in the '90s. >> a period spanning at least three administration, several different parties, and five postmaster general. >> how can you have such long-standing systemic violation of the hatch act and no one held accountable? >> the hatch act prohibits federal employees from engaging in certain types of political activities but not all of them. it's an administrative restriction and not a criminal statute. national association of letter carriers tells fox news they reject the findings and do not see a violation of the hatch act for the postal service as they -- says they are correcting the issue. osc says they a

as a bevan, cio at ccla management. going to talk to the private aviation company cutting through any brexit turbulence. mr. jet's chairman and founder joins us next. this is bloomberg. ♪ mark: you are watching "bloomberg surveillance." one company that seems to be weathering the global turbulence is the aviation firm which has a fleet of 71 private jets flying clients worldwide. membership sales jumped a record 7% in the first half of the year. the company says it has unparalleled customer experience. i'm joined by vista jet's chairman and founder, thomas. how is business? thomas: business is tremendous. we see chairmen and ceo's turning away from aircraft ownerships and subscribe with us. we make it easy for them to fly and conduct business. mark: that model, is it taking off elsewhere? it is your model, your idea. you came up with that model. who is trying to replicate it? thomas: we don't see anybody replicating it. there's the fractional market, as we all know. we have to build out a global infrastructure. we concl

we will be joining deutsche bank's cio christian nolting. now going to join the radio team. we will carry on the conversation with james athey from aberdeen asset management. is bloomberg. ♪ tom: the future of the fed is awaiting janet yellen's testimony. regulator. theresa may marks one year as tory party leader, but is forced to suspend an m.p. from racist language, reducing already slim numbers in the commons. the u.s. secretary of state rex tillerson of the qatar crisis. this dialogue is the way forward, we are told. this

the conversations and a and i have had with cios say that risk is this, we have to double down and deliverack half of the year. that can put this proposition back on a firmer footing. think there are two different debates going here. when debate is the macro side and one debate is the micro-site. the macro side, these are taking a long time to brew here. a lot of focus on tax cuts, etc.. this will take longer to play out than what markets anticipated. switch to the micro-site, these are looking good. the earnings coming out of the company, really good set of numbers. we have seen companies beating top and bottom whites. realicro-story is what the excitement is. anna: is going to be irritating on the macro side. what it canh care, deliver on capitol hill or away from capitol hill, do you look at the debacle there and all these other distractions and say, that means tax is delayed? or do you look at it and say, now the need to do something is even greater because they need to do something on health care? is that an alternative narrative? guest: we have midterm elections next year. there is,

pimco's cio said the controversy is dimming the u.s. economic outlook.t hot but inflation not? one of the key questions facing janet yellen as she prepares for her congressional testimony. time to tighten. could canada become the first g7 nation to join the u.s. in raising rates? and amongst the hawks, a dove. ben broadbent says he's not ready fo

manus: that brings us to michael o'sullivan joining us from credit squeeze where he is the cio -- from suisse. she's called goldilocks, she keeps skipping around, but the piece this morning is that mario draghi has to tread of very fine line. i love what you said in your piece, there are central bankers out there who want to publicly talk about tapering. will he be dancing on the head of a pin, as one of our guest said today? he has some he different influences. there are people in the governing council who don't necessarily like qe. companies in germany don't like it either. they will be aware of the fact that the recovery in the eurozone has come about largely because of the week euro. frankly i think if he could cancel the press conference at today's meeting, he would do so. i think the risk in the market is if he doesn't explicitly address the recent strength in the euro, the market me take that as a green light to push the euro higher just a little bit. although you could make the point that the strength of euro is more about dollar weakness. anna: interesting you think he would p

afl-cio president richard trumka said -- "small changes around the edges -- or the insertion of disastrous trans-pacific partnership provisions -- are not acceptable and would be the ultimate in hypocrisy." amy: the release of the nafta renegotiation plan comes as the white house kicks off its "made in america"-themed week. speaking monday trump lashed out against trade deals he said have hurt u.s. companies. pres. trump: i want to make a pledge to each and every one of you, no longer are we going to allow other countries to break the rules, steal our jobs, and train our wealth. and it has been trained. it has been trained. amy: trump campaigned on the promise of either leaving nafta or renegotiating the agreement. in april, he said u.s. will remain and seek to renegotiate using fast-track authority, which mandated monday's release of detailed objectives for renegotiation 30 days prior to the beginning of formal talks. trump will now have sweeping authority to independently broker an agreement before submitting it to congress for a wallach, director of public -- for more, we're joined by l