the csi 300 is up almost 24% year-to-date. can the rally continue?ch out to us on tv on your bloomberg. on brexit.he latest theresa may is said to be considering a plan to delay the u.k.'s e.u. exit. bloomberg understands the possibility of an extension will be discussed at a cabinet meeting today. meanwhile, jeremy corbyn has from hisressure lawmakers and agreed to support a new brexit referendum. let's speak to bloomberg's managing editor for markets. great to have you with us. all this equates to the pound hitting, what, a four-week high today? paul: the pound is picking up gains. also, more noticeably, stiffening against the euro. war than one year high. than one year high. what we are seeing is the chance of and no deal brexit. the scenario being priced out here. for currency markets, the conclusion is a delay or softer brexit is generally good news. this is while we are having short-term gains, how much is this uncertainty going to be out of the u.k.? we could see the potentially good reach kind of coming down at the same time. manus: i ju

the csi and shanghai composite interval markets.t trump delayed increasing tariffs on chinese imports citing substantial progress in trade talks. the u.s. president says he installed a summit meeting with china's president florida to conclude the facts. timing on the any -- any help on the timing of the meetings are how long he expects the extension to last. the relationship has been outstanding. we put ourselves in a position of strength for the first time in about 35 years are probably a lot more than that. china has been terrific. who want to make a deal that is great for both countries. >> theresa may has delayed a parliamentary vote on her brexit deal. a new deadline of march 12. that 17 days before the uk's set to leave the eu. if the prime minister can you the deal bloodline, some in brussels back a delay of brexit by as much as 21 months. theen buffett says he wants -- to spend berkshire hathaway's growing cash pile on a giant acquisition. he lamented what he called skyhigh prices. they would become a significant repurchase

seen the csi 300. and they, as it both entering a bull market. turnover in china still surpassing $900 billion -- better billion yuan, the most since 2015. we had the trade truce announcement admin a thing driving markets today. we're going to get a reality check. it might pick up the bubble of enthusiasm. this is what we have for you. to the dividend. we speak to francesca mcdonagh. she joins us certainly. certainly. manus: 7:20 a.m. in london and dublin. 39 minutes away from the start of the cash trading day. cehic.i'm nejra at the mobile world congress in barcelona. the bank of ireland has -- they haverlying boosted their dividends to $.16 per share. towards a payout ratio of around 50%. join us on the phone from dublin , the bankca mcdonagh of ireland ceo. when you think they will hit that 50% pay out? >> we are reporting are 2018 fully resolved lending's we have creased our profitability and dividends. we said before it continues to be our policy kahlil dukes to 50% out in the more median turn. nejra: to have any marks pacific's and the medi

csi 300 hitting bull market territory. seeing some positivity in the morning session.see a little a negative tone taking effect. still a lot of uncertainty about the trade talks and trump and kim jong-un meeting in vietnam. two of the big stocks go ex dividend today. some weakness in hong kong after aac technologies has plunged more than 13%. disappointing numbers. oil holding on to those losses as well. brent off by about 0.25%. story, emerging in the last hour or thereabouts, it concerns india. we've got a big move down for the nifty. we've got a move down for the rupee as well. reports coming through that indian air force aircraft entered pakistani territory. according to the pakistani army, they did release a payload. we have a report that there has been an attack by indian forces the pakistani side of kashmir , claiming they were hitting a terrorist target. tensions between the two have been escalating ever since the 14th of february when a pakistani-based terrorist organization attacked a military convoy on the indian side of kashmir. that is affecting sentiment

for thet a 3650 target csi 300. you could argue that technically it has moved quickly, but it is for a very good reason. china is easing policy very significantly as we saw in the credit data. rishaad: have they done enough in your view? we've had credit data coming just before the chinese new year holiday. there could have been a bit of run loading. -- front loading. jonathan: we, in the early stages of that easing cycle, we were skeptical because we were observing significant downward reasons for a number of to do with the tightening and the trade and tariff issues. by the end of october, i think the politburo recognized how big the downside risk have become and the easing accelerated on multiple fronts. fiscal, income tax adjustments, monetary credit, easing of property restrictions, and reversing some regulatory tightening. easing and the equity market is responding as it usually does. remember how cheap asia has become. we are only assuming about 11 times 2020 earnings number and that is still a very low valuat

at sea with the csi 300 is right now. up by .9%.f the csi cop swinging gains and losses earlier in the part of the day. aboutns among investors not meeting with xi jinping ahead of the month deadline for tariffs. thexture across the rest of region. asia is down and indonesia is down. gains for hong kong and new zealand. we are keeping an eye on the yuan, right at 70 -- 6.7795. we see the yuan weakening by the most since june. betweenas the range is 6.8, there is no panic insight. our team is saying that right now. we are also keeping an eye on the thai baht. the bot is strong at current levels. it is rising today after we saw the numbers on friday. the main concerns are within the country. we're the king coming up to say he is concerned about his sister's bed to be the next prime minister. the party, has come out to say it is acknowledging the concerns that were announced by the king. that could be a return of sentiment in the tide markets. avon, itt india, dave, has to do with the ibi move on friday. david: this global move toward

. >> lisa, you guys at the csis posted extentively on their missile capabilities, on their defense and security capabilities how much do you believe that north korea knows that we understand about them? do you believe he was actually surprised? >> as joel mentioned, the north koreans do know a lot, and i do think that they know what the u.s. knows, but i think that there are a lot of things that we were trying to get more information on from the north koreans and those include some of the things that csis has reported about in the past i think it also could have included some of the uranium enrichment facilities that were on the table for discussion. as president trump mentioned in his press conference, that was something that the north koreans just weren't willing to discuss at this time >> well, why not, lisa if you are going to denuclearize, you really have uranium enrichment they seem to be unwilling to fully denuclearize >> i think the north koreans and their strategy are trying to hold back as much as possible at the beginning of negotiations and significant concessions up front.

welcome back to csis, lieutenant general samuel grieves, he is of course the director of the missile defense agency, and he's held a number of distinguished positions within the air force, including as the director, strategic plans programs, analyses, air force space command, as deputy director of the missile defense agency, and as commander of space, in the system center for air force space command. we're going to jump right into it. and i think i'm going to turn it over to mr. tractenberg first with a couple of questions. first, just to get us started, and situate this review. what is the big new idea? what's the big idea? and logic, especially with respect to the national defense strategy and the big muscle movements that are going on. >> sure, tom, first, let me just start by thanking you and csis for the invitation to come here and have a conversation about this, this issue today, and it is always a pleasure to be here with general graves as well as the director of the missile defense agency. so my sincere appreciation to folks. and i appreciate everybody coming out here under t

cat thicks is the director of the international security program here at csis. she's had many thoughtful jobs at the pentagon. she concluded her tenure in the obama administration as deputy undersecretary of defense. next, mark cancia, he's a senior adviser here in the same program. he has been here for over three years. comes from the white house budget office where he served seven years as chief of investment. andrew hunter, three down from me. senior fellow direct director of the defense industrial initiatives group. also in the obama administration. andrew was a senior executive in dod in the acquisition directate. before that, on capitol hill as a professional staff member of the house armed services committee. finally, not the least, todd harrison. the director of the defense budget analysis here and director of the aerospace security project. he previously worked at the center for budgetary assessment. we read his outstanding work and previously before that was a consultant in the private sector on air force issues. welcome, everyone. thanks for having me

so today we ask the mliv question, which will move, s&p 500 or the csi?ill do better in march? you can join that on tv . neil duane, global strategist at allianz. with that in mind, the s&p is no superman, and the csi 300, rocking, rolling february. which one would you like more vicarious exposure to? china,'m definitely long looking into the rest of this year. i've been long china so far. it has moved very quickly, but we are seeing the confluence of economy,zation of the after the significant underperformance of the last couple years. nejra: i understand the long-term view on china you have. but if we look at this year, how would you advise investors to increase exposure? in h-shares, in the bond market? neil: probably the equity markets are what people think of, when they think about long-term attractiveness of china. we would be looking particularly at a-shares. the technical underlying phenomenon of them joy the indices. but we fundamentally believe president xi and his campaigns are making companies more profitable, more competitive. even with h

i direct the international security program here at csis it's my pleasure to welcome you to our second annual -- that's said with hope that there will be further -- conversation with the service secretaries. and i should say secretaries of the military departments is actually the appropriate way to say that. and we're so pleased that they agreed to come back to the forum. it's a unique forum. i hope you all find it valuable for not just hearing the priorities for each department but also some of the ways in which they are working together for the nation. so let me briefly introduce who we have we have secretary of the army mark spencer to my -- >> mark esper. i know it's the army. i was lake. >> i had all the wrong notes there. >> i will confess i'm off the red eye. >> that's my little brother. >> spo mark esper, 23rd secretary of the army. graduate of the u.s. military academy served about ten years in the army and including service during the gulf war. to his left is the secretary of the navy, richard spencer. he is pennsylvania 76th secretary of the navy and served as a pilot in the

i hold the chair in political economy here at csis, delighted to join my colleagues in welcoming you here and always good to see a crowd stay for the economics session. typically, there's drop-off at the end. i don't quite understand why that is, but we're delighted to have everyone. i actually think seven years ago when we did this the first time, there would have been more of a drop-off. i think there's much more interest in economic issues in asia for obvious reasons because of the interest in trade, but also, i think, the macroeconomic story is very important as well. we're going to touch on that as well with chinese growth and others in some questions. so this is going to be an interesting panel. i have a terrific group of colleagues here. starting down at the other end. i won't say whether it's right or left, is scott kennedy who is senior adviser and our freeman chair for china studies. i think well known to many of you. bill reinsch, our chair in international business and well-known figure in the trade community here in washington. my colleague, stephanie segal, in the simon

there was two csi vans and two police cars and the noise we heard was the recovery van coming to collectale as well people are worried about the student areas not being safest and this has contributed to that. none of us are going out in the dark at the minute. it is just going out in the dark at the minute. it isjust a going out in the dark at the minute. it is just a little bit scary for everyone. two plainclothes policeman knocked on the door and they were seeking access to the back garden of the house next door because they wanted to block off any escape route. it hasjust affected everybody, being such a young girl, when you've got kids of your own, i just can't imagine what the parents are going through. despite an extensive search of the area libby's whereabouts are still unknown. at 11 o'clock last thursday night, libby squire got into a taxi outside the welly clu b squire got into a taxi outside the welly club on beverley road, a short time later she was dropped off close to her home on wellesley avenue. at 11:40pm she was seen sitting on the bench on beverley road by a passing m

to the national defense strategy that is going on. >> sure, tom let me to start by thanking you and csis for the invitation to come here and have a conversation about this issue today. it's always a pleasure to be here with general greaves as well. so my sincere appreciation to folks and i appreciate everybody coming out under the circumstances on a very snowy day here in the nation's capital. so thank you for coming to this conversation. in terms of big ideas, there are probably several, let me to say that i think what we have done in this missile defense review is essentially revitalized and re-energize our missile defense posture and our programs. and our activities. and what i mean by that basically is that we have sort of taken a holistic view. it's been a good what, nine years almost since the last ballistic missile defense review came out. and missile defense if you drop the word ballistic from it because we are now recognizing that the nature of missile threats to both the united states homeland as well as to friends and allies abroad go just beyond ballistic missiles. and so ver

this is the correlation between onshore and offshore chinese equity market, csi 300 and the h shares.tions are normally kind of like 80. but they have fallen massively. massively, massively. that is where it was a few days ago, that is where it is now. the chinese onshore market responded strongly overnight. we saw that with it up around 6%. and the h shares didn't. we have not seen that going through into the european markets or the u.s. markets either. china very strongly, the rest of the world not so much. behind whation is is going on from a regulatory point of view. chinese regulators have opened the floodgates when it comes to margin trading. retail investors in china can power back into the market, volume absolutely huge overnight, and chinese authorities are freeing up the chinese equity market onshore. they have had enough of the relay downward trajectory, they are trying to fix it. they are loosening up restrictions and allowing margin trading, as a result the correlation is absolutely collapsing between onshore and offshore over in china. you can find these charts at gtv

china csi 300 enjoyed the best three and a half years on trade talk -- best day in three and a half yearsimism. the one falsehood for recon -- two pounds flies to a four week jeremy -- as tresa mae agrees to delay brexit. donald trump arrives in hanoi ahead of his second summit with kim jong-un.

apt to differentiate its definition of chinese a-shares from the csi 300. apt they will add small in 2019 and mid-caps in 2019 and mid-caps and 2022 differentiate the msci china a-shares index. romaine:romaine: we heard from the ceo of msci and he said china's economy and markets are opening up faster than a lot of people thought, they are much more transparent. this comes against the backdrop of trade negotiations with the u.s. where a lot of the skeletons are being exposed. how do you square this expansion of the weightings and msci index with the current state of the transparency and this free-form nature of the markets there in china? brendan: i think china has opened up in a significant way for those in the financial market. what we're doing at crane chairs would not have been feasible a couple of years ago. the msci inclusion will require more global investors and american investors to go to china to see the experience themselves. the msci decision could go a long way to improving relations between the u.s. and china. joe: go into that. what is the pr

playing in some major headwinds for investors in chinese equities at this stage. 300ing up to this, the csi was up around 7.9% year to date. shanghai composite was up above its 100 day average. you have some momentum increasing around the stock connect looking to buy into shares. but now boost trade winds have been of concern. there is focus on stimulus measures which is come through from policymakers in terms of monetary policy and fiscal stimulus and the extent to which that will support the economy. all those playing in. it may be a struggle as chinese investors reengage in the year of the pig. we will also be looking at the yuan. we talked about the pressure that was under, particularly as a result of dollar strength. we will see what happens with the pboc fixing at 9:15 local time to see if they support the currency onshore or if they allow it to drop as the levels move offshore. in focus and what happens with equities as they open a few hours. haidi: potentially the big catalyst is another round of trade talks. is there any expectation on how this round will go? process wems of the ar

stephen: either he doesn't care what the truth is, or he's pitching cbs's newest crime procedural, "csirders murders, murders, killings, murders." ( cheers and applause ) turns out he was dead... by the third murder. ( laughter ) if we just could have gotten to him by that second murder, we had a chance. but then the killing came along and... ( laughter ) you see, prior to coming to el paso, trump had been claiming that the city's crime rate fell after a section of wall went up. turns out, that's a false claim. but last night, trump fired back at the facts. >> some of the most dishonest people in media are the so-called fact checkers. they said, "oh, crime actually stayed the same." didn't stay the same. went way down. i'm telling you, it's just fake news. and you know what? you wouldn't even have to know. you can say that automatically without even knowing. >> stephen: (as trump) "in fact, in fact, not knowing really helps the things, i say. that's why when it comes to knowing, i say just say no." then trump said something that rang a bell. >> and we're only getting stronger together.

. >> it's very "csi." >> and we start to look at the formations here of the letters.a very hard time even writing an individual letter. >> he did. >> how do you distinguish the signature that we look at and the real deal? >> so, we take the photo back, and we take a look at the signature itself, okay? what's fascinating to me -- we're talking 1911, 1920. 9 years later. look how he comes up here to the "e," okay? and we're starting to see the same thing here again. >> a straight line from the "o" to the "e" in "joe." >> 1911 to 1920 -- you take a look, it's literally the same thing. >> with what percentage are you certain you have an authentic joe jackson signed photograph? >> 100%. i had, like, this eureka moment. and i was like, "bam! there it is! that's joe jackson." >> steve certifies the autographed shoeless joe picture and the entire 60-photo collection is real. >> it's one of the coolest things i've ever handled in my entire life. >> even better news for the bowen family -- he grades the signature a 9 out of 10 in quality. he also rates the other signatures at e

a lot of people who watch csi, they say dna, dna. -- obviously if you just had a hand bone, that is helpful, but when you have complete remains, particularly dental remains, there's almost no better way to identify than using tees. the -- using teeth. you can see the gold dental work. that's how we were able to identify him. this is from his marine physical in 1942. saw eitherat if she one of those restorations, she knew it would be my grandfather, and indeed it was. i was privileged to be there. sorry, here is the video. we have a little bit of video, you can see how delicate it is. extremely careful. she picked up tiny nylon sock threads, and i was blown away at how carefully people do this work, and with great dedication. this also is a little bit of kristin actually removing my grandfather's skull on may 29, 2015. i get asked a lot, what did it feel like in that moment? i had lots of reactions. mostly that i wanted time to stop, so that i can have those moments to myself, but that was not what was going on because these guys work professionals and they were at work and i was at work sho

>> reporter: well, the short answer is very little, and you might add to that list what csis researchersmonths ago was evidence of 20 or more secret undisclosed missile sites in north korea. far from reassuring u.s. officials, hallie. they've been snubbing them. mike pompeo came away empty handed on three visits. he was accused of gangster like activity. it took months before they could meet a single north korean official. no, i don't think north korea has provided a lot of reassurance at all. they vowed to work toward the denuclearization of the korean peninsula, but there's been no definition of that. u.s. officials don't even know that kim jong-un has made the decision to disarm. there's been no list, no inventory, no sign that he's going to draw one up. no road map. no timetable. i think there is a lot of doubt here, and this summit needs to be not just cosmetic but consequential. it can't simply be symbolic like singapore. it needs to be a summit of substance. that's in some doubt. >> bill mentioned something. one of the things that north korea committed to last time around which wa

prior to having "csi: new york," the show that i was on that lasted for nine years, -- >> worrier youq veteran? >> yes something like that. and they didn't really know -- >> neil: so the younger soldiers that you talk to, they might not be familiar with some of the oscar-nominated work, so how do you explain. >> it seems like everybody is familiar with forrest gump. it's a movie that won't go away. it's 25 years ago that the movie opened. 25 years this summer, and -- >> neil: did you have any idea it would be that big? that it would become that big? >> no, not one we were making. it was an important moment in my life for a couple reasons that are right about that in the book and the significance of it because not only did it change my career and turn a new direction there for my career, it made this connection with our wounded veterans and our vietnam veterans and men and women who serve our country. i would never have predicted just playing a character. but you know, about a month after the movie opened, i went to the disabled american veterans convention and i walked in there, and t

the csi 300 is up more than 16%, year-to-date numbers. december was rough.u think that markets are being optimistic? tom: yeah, we're officially in a bull market in china as of an hour ago. part of that is down from the positivity coming out of the talks between the two. there have been regulatory changes, as well as monetary easing and fiscal easing we've seen take place in china, proving supportive. there is a case this is being overpriced because when you talk to china on the ground, they say you may get a superficial deal. but in terms of addressing structural changes, the state these haveis again, been red lines for the chinese. we see no momentum in that regard. you may get a deal that eases the pressure for the time being. but further on, technology tensions are the primary focus with what's happening with huawei. matt: tom, thanks very much. tom mackenzie joining us out of beijing, our chief china correspondent, covering the story we are following very closely. some breaking news we're getting out of socgen. the french bank looks to be cutting jobs.

. >> coming up -- the csi of roc. >> i remember thinking, wow, i wonder if that's what wrote these letters>> when written in blood continues. e letters. >> when written in blood continues. to the cafeteria and just chow down midday? -you mean, like, lunch? -come on. voted "most likely to help people save $668 when they switch." -at this school? -didn't you get caught in the laminating machine? -ha. [ sighs ] -"box, have a great summer. danielle." ooh. danielle, control yourself. i'd like to slow it down here with a special discount for a special girl. danielle, this one's for you. with a special discount for a special girl. [kno♪king] ♪ memories. what we deliver by delivering. with expedia, i saved when i added a hotel to our flight. so even when she grows up, she'll never outgrow the memory of our adventure. unlock savings when you add select hotels to your existing trip. only with expedia. to be nobody but yourself in a world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal

in the project that i lead here at csis we're looking at and have gathered abundant evidence that russiaspecifically, has chosen to enter that debate if ways that are per any shous and designed not to make us better, but to weaken support for the institution of our justice system. we have seen this in social media where they pour gasoline on the flames of division that engulf social media. when those divisive issues buck up against the justice system, accusing judges and prosecutors being puppets of political leaders. we see this quite per vase ifly. i'm wondering if you have a sense that americans realize that these information operations, these propaganda campaigns are not just about elections which is where most of the public attention seemed focussed. do you have a sense that there's a growing awareness of these broader campaigns to undermine the pillars of democracy, whether it's media or the justice system? >> well, i hope that there's growing awareness. this is a good opportunity to expand it. yes, it is important for people to understand that. there are efforts by foreign countri

is a handicap for you guys, when you've got to tell this story to a jury that really wants to hear csi everything. >> prosecutors started by calling a string of the other women in david's life. women who shared with the jury stories of a lustful, cheating spouse, with little regard for his wife. stories of a three-way kiss at the bar. >> and who did it involve? >> me and katie and dave. >> you were kissing katie. >> uh-huh. >> katie was kissing you. >> yes? >> all three at the same time. >> stories of a one-night stand. >> and what happened at your place? >> we had sex. >> and is that the only time that had happened? >> yes. >> and of a romance that started while david and nici were engaged. >> i asked him why he was getting married, and he said that at that point it was too late to back out of it. >> the romance lasted on and off for two years. >> what did he tell you about how he felt about you? >> he told me he cared about me. >> dave pietz's lifestyle became the trial here. >> it did. because it showed he was dissatisfied with her. >> dissatisfied with nici, and prosecutors say, de

the csi 300 was up during today's session at 24%. there is no major drama. a little bit more negativity in the afternoon when we saw the retaliatory strikes and there was some nervousness. the initial reaction looks like escalationnot be any intentions. it is a consolidation session in asia, it is true that europe and the u.s. are looking lessons is the astec than asia. they were yesterday, they are carrying on gains in their own that i do not think there is any negative drive in the session. pretty quiet until he get more direction from powell later on, -- later on. matt: maybe we need direction from china in terms of domestic stimulus. this is -- i want to ask you what you have been hearing from investors, will trade or domestic stimulus be the bigger diver of chinese equities from here? what are you hearing? mark: in the next week or two, it is more the trade story just because it is topical, we are coming up to the end of the initial deadline, will it be extended or so we are told and it looks like there will be some kind of deal signed so in the short t

constructive work on behalf of judicial reform, justice reform advocates, but in the project i lead here at csis, we are looking at and have gathered undant evidence that russia, specifically, has chosen to enter that debate in ways that are pernicious and design not to make us better but in fact to weaken support for the institution of our justice system. and we have -- we have seen this in social media where they pour gasoline on the flames of division that engulf social media. when those divisive issues, particularly immigration, racial injustice, accusing prosecutors and judges of being really puppets of the establishment, tools of political leaders. and we see this quite pervasively. what i am wondering is, do you have a sense that americans realize that these information operations, these propaganda campaigns are not just about elections which is where most of the public attention seems to be focused? you spoke in aspen about elections being one tree in the forest. do you have a sense that there's a growing awareness of these broader campaigns to undermine the pillars of democracy, whether

i want to see was going on with csi. a bit of mixed trading across asia. pivotal weeke in asia officials from america and china meet in beijing for trade talks. is following that futures. highest since 2017. china is the biggest user of iron ore. they come back online and we see those prices in china. come take a look into my terminal. when you can see here is this range we have. 6.7 and 6.8etween would be a calming to the market and a calming sentiment to other asset classes. many strategists say it could be a sentiment for change. and a sentiment for a cause for alarm. thank you so much. today we're asking the question was the biggest uncertainty for markets for the rest of the first quarter? you can join the debate and reach out to us at the team on the bloomberg. let's get the first word news with an about. -- annabel.bout >> the vice premier will meet with steve mnuchin. the u.s. and china are looking for a deal to avoid a ramping up of tariffs. president trump says the two sides are making progress and confirmed is ready to impose heavier duties of n

csi 300 over in china, this is the picture in the asian equity session.muted seems to be the best way to describe the action. muted in asia, muted in the fx markets as well. appetite for the dollar and little bit of retreat for emerging-market assets. central banking dovishness headlines add some yesterday after the overnight trading sessions. we do look to go a little bit weaker of the start of european trade. with or without the united states, we might be a little bit more directionless than usual. we have been back later on trading day. the expectation is that futures, we will be a little bit weaker but u.s. futures look ready flat through much of the asian sections. not expecting too much there. last session the u.s. was in play and we saw strong gains. that was about the optimism for trade. the pause in europe yesterday, we pause over in asia, waiting for another leg on the trade story. lot of trade optimism. this is the developing picture across europe. we are as expecting seen some muted moves to the downside. let's look at the sector picture. a bi

matt goodman and it is my pleasure to introduce matt, the senior vice president and shimon chair at csis and on the board of the american society of washington, d.c., and i turn it over to you to say a few words. [ applause ] thank you, jim. it's a real pleasure to be here and thank you to the carnegie endowment for hosting this annual policy event that we do to kick off the year at the japan-american society of washington, d.c. and on behalf of the board of the trustees and the staff of the society we welcome you and thank you for coming out. this is an important event for us and we are an educational and cultural organization that promotes understanding of japan and u.s.-japan relations in the greater washington, d.c. area, but we think that because of the business model of washington, d.c., at least the traditional business model, right now we're not doing our traditional business of government and government and public policy is an important part of what we do and so we find it important in the beginning of the year and it's meant to be with the nature of all forecasting and a little

. >> i direct the program here at csi s and with a conversation with the secretary of the military department they agreed to come back to this forum it is unique i hope you find it valuable and also some of the ways in which they are working together for the nation. let me briefly introduce, mark. i am so sorry. [laughter] so the 23rd secretary of the army serving ten years in the army into his left from the navy richard spencer of the navy serving as a pilot in the marine corps. and all the way at the end the h secretary and with the house armed services committee. thank you all for coming i apappreciate you coming today. i will start with a broad question and go down the line two years into the administration there has been priorities set from the beginning around secretary mattis with structure and now moving into this period of competition in particular p when you see the accomplishments to date? and what are your priorities going forward quick. >> first of all, thank you it was very successful last year. so let's go back to the baseline as well the national defense strategy came out that

>> first, thank you, kathleen, for you and csis hosting. i think it was very successful last year and hopefully there will be a third one as well. let's go back in baseline as well. about this time last year the national defense strategy came out and told us we are in an era of great competition and our strategic competitors are russia and china and we should focus on high intensity conflict. the army vision came out. what the army vision laid out is, what should the future look like for the army in the year 2028 in terms of everything we do, how we man, organize, train, equip, and lead the army? and really what they did is brought the -- jump-started what i call is a renaissance in the united states army with regard to everything we do. our priorities have remained the same and will. readiness number one, modernization number two, and reform number three. reform is the means by which we free up time, money, and manpower to do number one, number two better. i know you want to talk about readiness but i'll give you a quick metric in souch gr

we have seen a massive gain for the csi, up 20 plus.ened investors in the emerging markets space, particularly in asia? eli: sure. financial conditions have improved significantly in the last two months and with trade putting out a lot of positive headlines from the white house and the chinese over the last two months, optimism is extremely high. our concern is a lot of trade optimism is not priced in and the base case of a postponement of tariffs with more negotiations down the road is priced into the market. the chinese shares have outperformed the global market year to date and even in the u.s., stocks with asia exposure have outperformed. we see a slightly disappointing trade outcome over the next few weeks, this could of usisk in terms potentially seeing a pullback from the general markets. haslinda: what do you do now? do you wait and see? well, over the longer term, we are still constructive on how trade tensions will be's and more stimulus from the chinese government would come in. over the long-term, we are over eight -- overwe

csi 300, down 0.8%. the narrative is global growth concerns, germany data disappointing. u.s.etail sales disappointing. and the cpi and ppi prices in china, red arrows. we are seeing the back of that. every of aling off bid. let's talk about movers. watching chinese carmakers leading some of the losses. down 4%. the vehicle sales in january, a letdown. sliding 14%. guidance from the company. profits, 95%. stocks down 1.7%. autos, concern. reports saying china is listing these restrictions to ease trade tensions with the u.s., which could mean scrapping some of these subsidies. that is one to watch. coming down to the opening in mumbai. less than an hour away. good to see you. we have seen some weakness and equities. do we expect selling to continue? >> the setup was grim. the rest of the asian markets are doing. you would not expect a positive open. a flat start. , something in india to watch out for. the last trading day of the week. negative index. it looks like weaker hands are getting stronger in the market. taking a look at the broader market, a slight bit of a divergence

historians really are like csi investigators. what we do for a living is to follow the evidence and that evidence that we marshal allows us to chronicle specific periods in history. now, where not journalists, so we also interpret and analyze. when we think about the black power movement, the evidence is all around us, in archives, fbi files, and among living participants who weekend interview and glean knowledge from, so this talk is really based on five years of research attempting to provide a comprehensive snapshot of the black power movement. to talk about black power to begin with, we have to talk about the early 20th-century, and when we think about the black power movement, we have to think about the largest mass black movement in american history, which is marcus garvey 's universal negro improvement association that really came to a high point in the 1920's. what is important for us about garvey, and garvey is some is that garvey is going to be a black political leader who argues that african-americans should utilize po

the csi 300 still positive. we started off with some decent gains at the start of the open in hong kong. than expectedorse export numbers as well, but slide positivity. .he dollar coming back stronger perhaps that is the big headwind. the chinese renminbi, we broke off a rally in eight days that we saw it rise. 6.72 is where we stand. the aussie dollar falling after that pmi data. korean also selling off. seeing upside after that weakness yesterday. when it comes to the supply and damnge over that vasle disaster, perhaps we could see a retreat in iron ore prices. take a look at the data. what we were focusing on here. we were expecting slight deterioration from december, but this trade-sensitive measure issuing a different picture than yesterday with the official data, which was not as bad as expected. this is why things are turning around. it will be interesting to see what happens when it comes to em and asia equities. we ended january on the best in seven years. the fed, helping things. anz said the missing i

we have the csi up. 0.4%,e singapore down down by ocbc. it has been downgraded by jpmorgan.ok at china, going gangbusters. by 2.7%,rently up influencing what is happening with the rest of asia. for theading higher six-week run. influencing what we are seeing right now, currently up by 0.2%, breaking the 2.7 level. we have mark cudmore saying that 6.7 is the lower end of the trading range. i want to take a look at where asian stocks are heading. we have a pickup in upward momentum, but take a look at where we are at this point in time. or notstion is whether that momentum can be sustained, iten all the good news that has been affected into the trading session already. rishaad: it is not the case when we look at india. from hero to zero, as it were, with losing that crown. it has been one of the few equity markets to be moving to the upside. it is down on the year. 0.2%.kkei unchanged, we have uncertainty with regard to general elections this year. we also have investors looking very closely at the government's calls on the central bank of late. on top of that, there are debt

first of all, thanks, again, kathleen for you and csis hosting this. i think it was successful last year and hopefully a third one as well. let's go back in baseline as well. about this time the national defense strategy came out and told us we are in era of great power competition and strategic competitors are russia and china. we should focus on high intensity conflict. a few short months after the army vision came out. what the army vision laid out was what should the future for the army look like in 2028 in terms of everything we do, man, organize, train, equip and lead the army. and really what that did was brought to the floor and jump started a renaissance in the united states army with regard to everything we do. our priorities have remained the same and will. readiness number within modernization number two. and reform number three. reform is the means by means which we free up manpower better. i know you want to talk about readiness but a metric in terms of how much ground we have reclaimed in the redness of our forces. end of 2016, we had 18

you just give nonstop in between projects and csi and the series.interview you for the launch of your book on sunday to benefit the firefighters, friends of firefighters the other night. so you packed that place because you are giving back to firefighters as well. >> yeah. i can truly say the 80s planted some reeled seeds in terms of support of vietnam veterans. the 1990s i started working with our wounded then after september 11th, i really i just needed to do something positive. and so i jumped in full force to try to help the men and women who were deploying and reaction to that terrible day. and firefighters who were here on september 11th. and just started supporting many, many different organizations and it all accumulated into the gary sinise foundation. that's why i wrote the book. ainsley: tell us about your childhood. your high school career. what happened there and how you got into acting? >> did you read a little bit of the book? >> yeah. there is misbehavior in the book as a young man. you know, i didn't know what the book was going to

>> let me start by thanking you in the csi to have a conversation about this issue. it is a pleasure to be here with director of the missile defense agency. my sincere appreciation. i appreciate everybody coming out under the circumstances. it is a very snowy day here in the nation's capital. thank you for coming for this conversation. in terms of big ideas, there are several. let me say in this missile defense review, is essentially essentially revitalized and re-energized our programs and activities. what i mean is we have taken a holistic deal. -- holistic view. it has been a good nine years since the last ballistic missile defense review came out. this missile defense review dropped the word ballistic from the title because we are now recognizing the nature of missile threats to both the united states homeland as well as friends and allies in our deployed forces go beyond just ballistic missiles. they involve cruise missiles, hypersonic missiles, missiles that are faster, more difficult to track, defend against. so, the big message here is we are going to do a nu

the blue line is the csi 300 index. the white line is the earnings yield cap on the index.he relative attractiveness of stocks versus bonds. the earnings yield gap on the index has increased as high as 5.8% above the 10 year yield in january. 6%,orically, it is close to marking a major turnaround in favor of stocks. in 2018, the trend was weaker stocks and stronger on's. a trend reversal is on the way. support andolicy chief valuation and the flows into china suggests sustainability. improve andthings we see the index going up, that would mean the dividend yields get compressed in the spreads narrow, will it not? yield ahit the earnings high. that means the earnings yield is the reverse of pes. it was high because the price tumbled fast. now it is just reversing. this chinese sovereign yields have declined fast. rishaad: that has widened the spread. a very interesting chart. i'm sure you will agree. chris question mark yvonne: what have you got? >> we talked about low volatility, now short volatility. it is pretty quiet over the last few days. for some, a little too quiet.

you saw the csi at 300, the shanghai composite above its 100 day moving average good given the tradeensions, what kind of start are they going to get in the year of the pig? if you look at the hang seng, the china into price index which closed down, down 3.7%, but maybe it will be a tough start for chinese equities. it will be focus on fiscal and monetary policy. that going to be trade will be in focus. other areas we are looking at, we have import and export data at the end of the week and we have the money supply data. additional stimulus for the markets in china. is a story we have been following for months, china facing mounting international pressure over the detention of minority. tom: this is the strongest condemnation from a muslim majority country, turkey. they are saying china needed to respect the human rights of its muslim minority weaker -- uighur where at least one million people are held in detention. the turkish authorities, the foreign ministry spokesman saying they were being politically brainwashed. they were speaking after the death and detention of a poet and son

that has helped of the csi 300 cap a seventh straight weekly rise, longest such streak since 2016 for0% year-to-date. sayingptimism is substantial progress is made on negotiations, including areas like tech transfer, so we are keeping a close eye on chinese tech stocks this morning. huawei suppliers also on the radar after the company launched a 5g phone with a $2600 price tag, more expensive than samsung's offering. watching suppliers and keeping an eye on suppliers like sunny optical on a nikkei news report that both have seen a 30% increase in camera lens orders for the first quarter from huawei. yuan,heck on the offshore which is continuing to power up this morning. looking for a look at the cnh trading at 68, trading against the dollar, setting a 2019 high given the boost from that trade. take a look at the one a year chart for the offshore yuan, certainly has been able to shake off some of those concerns regarding the sluggish chinese economy and trade fears. we have seen it over the course of 2019 continue to pick up steam. haidi: a 2019 high there for the chinese yuan to watch

we are slightly positive on the csi 300. up .1% on that. as well as a-shares. a-shares are flat. shen jen, once again, it is small caps that are put -- catching a bid. we are up 3/10 of 1%. the change in tone here, instead of piling up on the defensive sectors that we saw in late 2018, we are entering into these private sector companies. has sentiment shifted that much echo has the prospect of policy stimulus helped and boosting some of these gains in the small-cap sector? shows youchart that the bullish sentiment. the technical support that because we have seen the shen index and the shanghai index, both have broken above the wonder day moving average. the key question is whether these levels will sustain. is it the late -- the sign of a light cycle buying given such bullishness particularly when it comes to shenzhen. let's get you up with the first word news. >> the u.s. and china have begun new trade talks. march towardmp's terrorist deadlines moves closer. delegations met in beijing ahead of top-level talks on thursday. friday, the vice premier, robert mnuchin and lighthizer

. >> i direct the program here at csi s and with a