i am david westin.s is your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. day by day look at the headlines, starting on monday, when a proposed make a deal collapsed. >> they have pulled their $143 billion bid in two days after the approach became public, but the company said targets were reluctant to engage in talks which only byal, half decided the negative response made a frenzied merger in possible that all smacks a little bit of a bazaar u-turn, doesn't it? >> politically, it would be challenging in the obvious way and i suspect that may have been the degree of certain leakage in the public domain, rather earlier than they may have wished. >> the moment this pro, you had stories telling the government that officials are looking for this and seeing whether they need to step in, and this is one of jurisdiction, so headquartered in the netherlands, or they have pretty controllers in place, so if the company does not want to get t

i'm david westin. let's continue our global tour in europe, where finance ministers to discuss greece's debt problems and found a solution. >> another day passes, another greek bailout deadline is missed. yesterday, ministers poured cold water on a quick dispersal of new payments, with athens and its creditors agreeing to pick up discussions in the coming days. more deadlock for greece? >> this was supposed to be the last chance again for greece, and it is another deadline they missed. this is now more than one year behind schedule. finance ministers could agree on is for the return of the bailout auditors in the next few days, probably next week. greece is racing against time because you have these elections coming up in the netherlands and in france, but all the finance ministers tried to play down the political risks, the delays increase the possibility of a bailout program needed for greece because they have to pay inmuch as 6 billion euros maturities in july. japan's january trade data has disappo

i am david westin.l speak in front of the senate banking committee today, and then she will speak with another committee tomorrow. it to take us through what to expect in the report is mike globalnd pimco's investment advisor. mike, what are you looking for? policy --is monetary magnitude and timing. the other is regulation. we spoke a little bit about regulation and what the fed my do going forward. wall street is going to be focused on the monetary policy aspects today. there is two parts to that. one is the attitude and how many they are going to do this year. janet yellen will likely say that they will stick with their december projection which means three. we do not know much about what will happen on this goal policy. there is also the time in question. she does not want to pre-commit, but she likely does not want the markets to rule out march. at the time you get to june, you will be in the middle of the health care and tax reform debate could we will have passed the date in which the government

i'm david westin. our interviews touched on the facts of donald trump's presidency. it's hard to find a political leader who does not have strong opinions on the impact his administration is making. here are some of the most interesting conversations on trump, beginning with malcolm turnbull. he told haidi lun about his dealings with the new president. had several conversations now, and they have been constructive, frank, and forthright. engagementery deep with the american administration, and every american administration. reliance,lian-u.s. relationship, is deep, build on over a century of fighting side-by-side in every major conflict. it is an alliance. it is an economic partnership, and it is built on millions of people to people links and family links, some very strong and deep. he is a very big personality and has a very big job. in terms of the added difficulty of decision-making, he does diplomacy by social media, by twitter. there is an element of the unexpected to does that change the way you

i'm david westin. to back into the spotlight which are yellen's testimony. earlier, vice chair stanley fischer joined bloomberg in an exclusive interview. wiwe will be aiming and ll likely be close to 2% inflation and full employment, which is somewhere around where we are now, possibly a bit lower. david: joining us now is mike mckee, international correspondents corresponded -- international correspondent for bloomberg television. what do we make of this? mike: the fed is where it has been, the message that janet yellen delivered. they saw in december the economy as it is now justifying three rate increases, not seeing any change in the economy that would require them to change that outlook. the economic data has been coming in stronger than forecast which may be moves up the timing but does not mean any change in the number of rights they are anticipating this year. a goldilockss situation, in the sense that the economy has been moving forward, but not so fast for the fed to overreact and clampdown?

for an insider's take, david westin is here. david: we are joined by gary cohn, formally president and now chairman. thank you so much for being here. it gary: thank you for having me. david: we just have the jobs numbers out. number of jobs, but the weight growth was not great. we heard from the president that he is concerned about the quality of jobs. theave heard that one of things you really want to do is use trade policy to make sure we have high-paying jobs on this continent still. our u.s. focused on the question of losing jobs to technology? gary: we are very concerned about wage inflation and wage growth. and we think it is an area we do need to attack in the united states. we have been trying to great inflation and the united states for the better part of eight years and wage inflation is one of the categories. we are worried about are better paying jobs going overseas. we had been talking about that quite a bit in the white house over the last two weeks. when we talk to our different ceo groups whether it is from manuf

i am jonathan ferro with alix steel and david westin. gth story for the sixth-ranked day. the euro is retreating by 2/10 of 1%. david: -- alix: in terms of u.s. equities, the vix is up 1.5%. there is still no fear reflected in u.s. stock. the crude is up 8/10 of 1%. jonathan: here is some volatility on the screen at the moment. in london, the house of parliament is arguing the article 50 bill to argue on that later to trigger the requisite process. process.- the brexit theresa may answered some questions in the morning session. she also asked some questions about it they can determine the outcome of the brexit outcome. have a veto under article 50. the bill goes to the house obviously. it is giving power to the government to trigger article 50. i would also remind him of this point, because he constantly refers to the interest of scotland inside the european union. an independent scotland would not be in the european union. ruchir, it is great to have you on the program. thank you for joining us. policy is one thing. the data is something

i'm david westin in for david gura.es on the bloomberg first word news this afternoon. mark crumpton has more from the newsroom. s choiceesident trump' for national security adviser is an army general with a reputation for speaking his mind. general mcmaster has been named to replace michael flynn who resigned after allegations he misled vice president mike pence about contact with the russian ambassador. john calls mcmaster an outstanding choice. callstlook -- john mccain mcmaster an outstanding choice. eight months after the brexit vote, 28% of those surveyed by nielsen say the economy is either their first or second concern, up from 16% year ago. terrorism ranks second, followed by immigration. an austrian court has approved a u.s. request to extradite the ukrainian tycoon on corruption charges that clears the way for him to be sent to the u.s. for trial. led prosecutors say that he a conspiracy to bribe indian officials regarding a mining process. he denies the charges. regulations and china are drafting sweeping ne

david westin and alix steel are with me. futures are up. 0.1 percent. a stronger dollar story i'd of this one and bond yields are climbing. curve policy for the boj. an interesting dance this morning. off by 0.3%. no geopolitical risk premium. and the safe haven trade goals go nowhere. jon: things to watch in frankfurt. deutsche bank. the biggest one-day drop since september. deutsche bank is planning to cut 70% of staff for the whole year. david according to the wall street journal citing unidentified people. david: they cannot get out of the news. for a look ahead to the jobs report, we are joined by julie hyman in washington. we all know the basic numbers. 180 thousand jobs. take us beyond that. what are you looking beyond those topline numbers. >> i am looking at the topline numbers and there is some optimism surrounding them. i'm going to be looking at wages. is the game being estimated by economists. average hourly earnings. looking at the average work week, 34 .3 hours. and the labor force participation rate which last time stood at 62.7%. thisls

i'm jonathan ferro alongside david westin and alix steel. equities sitting at all-time highs and futures market higher as well. about five points on the s&p 500 , about 131% for european xp's as well. despite that number in europe, that pmi data, a six-year high is a weaker euro story this morning. asx: new borders were up well and prices increased the most since 2011. we are also waiting for walmart earnings to cross, we will bring them to you as they crossed. walmart stock unchanged in the premarket. jonathan: we begin coverage in europe, where too many, it's hard to reconcile rising global uncertainty with economic data that showing resilient economy. we had to france where greg is standing by. i want to begin with the politics. marine le pen and the national front touching up in the front for the second round. it has much more to do with security than it does with the economy. if you go back a few weeks, the poll showed are leaving in the first round and getting stung in the second round. losing, somewhere in the 30 range. her opponent w

david: this is bloomberg, i'm david westin. air force one to fly to a boeing air force facility. joining us is kevin cirilli. what does the president expect to publish in visiting boeing? kevin: he will be in charleston, south carolina. some sources are not anticipating any major policy announcements at boeing. however, he will be attending the rollout of their new dreamliner aircraft. that said, behind the scenes, there have been some conversations with folks as well as within the administration on potentially reauthorizing the export import bank. that could bust some heads on capitol hill with conservatives who are against the bank. boeing has been one of the top supporters of the banks reauthorization in filling out its board. thed: we heard about economic plan in various respects. have we heard about training skilled workers for boeing? kevin: we have not actually heard specifically how president frontline address that. this is not something he has truly focused on. he focused on the regulatory policy and tax policy, but we

i am david westin. at live pictures of the white house, president trump has a busy day meeting with the israeli prime minister and he will welcome leaders from the retail industry to talk about his agenda and there's. joining us is our washington colleague. tell us about this retail leaders meeting. >> this is the latest in a series of meetings that he has been having with business meters. he has met with automotive leaders and airline executives and now he is meeting with retail executives, talking about the border tax that paul ryan wants to implement. he said he will be rolling out a phenomenal tax plan and the retailers want to make sure it works for them. they are not happy with the idea of a border adjustment tax. that is the mess -- message they will try to bring. we will see retailers from some of the big retail companies, and donald trump has his own fashion brand so he is familiar with these executives. we know what the retail leaders will say, they do not like his border adjustment tax. what

scarlet: that was gary cohn speaking with david westin.so much information being noise, what is the best indicator to filter out the noise and determine where the market is going? we will talk to a bloomberg strategist who has the answer. this is bloomberg. ♪ joe: "what'd you miss?" the most important stock market signal heading south? --'s bring in a strategy strategist. u the holyng to bring in grail of indicators about where the market is going. what is this chart? , markett context signals and cycles are driven by fundamental signals. every day we are inundated by facts, figures, news, most of that is noise. for there playing bigger picture, you won an indicator you can anchor on that will get you an accurate forecast. this is my favor one i have used for years, which is the real earnings yield of the s&p 500. may be a little remedial demonstration here. scarlet: please. >> i like to think of stocks on the stock market in the same way i think of lawns, how much am i paying for the yield i am getting. or a bond, it is a coupon plus capi

. ♪ david: this is bloomberg. i and westin. -- i am david westin.arty been a delay thanlling that key post any time in history. there are also several senior treasury appointments that need to be made. according to bloomberg news, the consequences of what she calls the, quote, "treasury power vacuum." erik nielsen is still joining us from. tell us about this power gap and what the effect is. conflictingt is messages good we think steve mnuchin will get confirmed letter today or tonight. it should help with the policy confusion. you have different parts of this administration saying different things and no one quite knows what the policy is going to be. david: even stephen mnuchin takes office in the treasury department, it is a little lonesome at the top. have they named other candidates for the 20 other positions? >> no. and another of people -- a number of people have turned down job offerings at the treasury. a number of important positions at the treasury continue to go empty at this moment. he's going to have his hands fulfilling those jobs, an

i am david westin. a big merger in the health care industry was killed yesterday.washington agreed with the government that anthem should not be allowed to go forward with its $48 billion proposed acquisition of cigna. more on what went wrong with this deal. what is the answer? hopingem and cigna were to combine and create the biggest health insurer in the u.s. the judge said that is going to reduce competition, it is not going to help consumers and you guys don't get along so even if in some of the world this would help consumers, in this one where you guys are fighting, i'm not going to let this happen. david: there was a lot of overlap between these companies. a situation where a judge said if you are going to have a lot of efficiency, you are never going to have efficiency because you hate each other. >> judge jackson called this the elephant in the courtroom. anthem and cigna did not get along. before the deal they didn't get along and during the negotiation -- ultimately, their lawyers didn't agree in court. one of your big arguments is deficiency and if you'

i am david westin. pimco reducing position in u.s.ation is picking up in the federal raise rates sooner rather than later. stillnch -- bob sinche with us. there is a wide range of expectations rate larry fink says, not surpassed that goldman sinks saying, not so fast. pimco says they think it will be faster and the fed residents on both sides of the equation. what does an investor do? bob: we are splitting hairs a little bit here. i think most people think there is likely to be at least two hikes this year, maybe three. there are some outliers, maybe one in four, but i think in terms of thinking of markets, we should take there will probably be between two and three rate hikes this year that is almost priced into the markets. unless you go outside that range, i don't think it will be a major factor and i think there are so many other things that are important in markets, whether energy prices, regulatory reform, corporate tax reform, etc., that i think we should step back a little and pay less attention to what is going on in terms of

i am alix steel with david westin.quity rally with s&p futures a little softer. european stocks, -- theronger dollar across board against all ga currencies. dollar-yen turning lower down a

i'm david westin in for david gura. off just outside of washington dc, we expect to be hearing from chief strategist the been in and rnc chief of staff reince priebus. last year, the bled this conference were trying to figure out how they can capture the white house, the house, and the senate. now that they have them all, the question is what they will do with them. kevin, you have a lot on your platter today. now let's turn to see pack. what are you expecting? >> talk about a political odd couple. trying to put rumors of unrest behind them. my the head of see pack in just a few short minutes. we have to wait for what they have to say. it will be addressing them tomorrow morning. they'll be talking directly to the base. she criticized the modern-day feminist movement and also criticized the pro-choice movement. she is someone who is been an outspoken advocate for a pro-life community. they communicate with their base. executing their political policy. ask the two of them together on stage. he didn't come in first, secon

shery: that was the director of the national economic council gary cohn speaking to david westin.'s top man a reserve tone on his trip to asia. the defense on secretary's trip to south korea and japan. the combingttis voice that everyone in asia was hoping he would be? ,> you mentioned rex tillerson when he was in his confirmation hearings, he was pretty hawkish and he is the top diplomat as secretary of the united states. he insinuated some military intervention if china were to continue to allegedly weaponize islands in the south china sea. then you have the top man in the , mad dog james mattis mattis is his nickname, he took a more diplomatic approach, so here is what he had to say after visiting japan. "what we have to do is exhaust all efforts, to dramatic efforts, to resolve this properly. our military stance should be one that reinforces our diplomats." any need"we do not see for dramatic military moves at all." this is the first trip abroad for one of donald trump's cabinet secretaries, and it was intended, i would assume, to assuage fears of one of america's biggest ally

is i'm david westin. health care accounts for a fifth of the u.s.nomy and is at the center of the republican agenda. next guest runs the new york presbyterian hospital and joins us now to take us through what repealing and replacing the aca could mean for his business and the patience he serves. let's start with obamacare. it has not been working perfectly. the republicans are right about that. what is the main thing that needs to get fixed? >> the individual insurance market. you have areas where there are only one ensure your, people are worried about premium escalations, so it is the individual insurance market that has had the most trouble. the medicaid expansion has worked very well for those states that expanded medicaid. david: you talk about medicare and medicaid. that's what they are talking about changing, saying let's do a block grant. states, you take care of that. what would be the effect in your view? >> devastating. you would take about $1 trillion out over 10 years. there is no question that block rants would result in less people ge

i am david westin.eager repeal the affordable health care act from the moment it was enacted. but now they are in the majority in both houses of congress and finding it a harder -- finding it harder to replace. in town halls, members of congress are hearing loud objections from constituents about their possibly losing health care. covered by health insurance. to, joining us is zachary her, bloomberg's health care reporter and you are reporting on what we a replacement plan might look like. tell us what we are looking at. hear are just starting to what these plans would be. one of the key things that republican lawmakers are grappling with is just how quickly people are going to lose their coverage. we knew that repealing and replacing, with any number of another number of alternatives would increase the uninsured rate to some extent. when we are trying to understand is how much. david: a congressman has become the secretary of health and human services, tom price, who has had a proposal to replace the a

vonnie: we heard gary cohn talk about that a bit ago with david westin. coming up, more breaking news from the white house will -- or breaking news from the white house. this is bloomberg. ♪ i am live from london, mark barton. european close just about 15 minutes away. vonnie: from new york, i'm vonnie quinn. , just a fews moments ago at the trump white house, opposing further sanctions on iran. the treasury sing their entities and people are affected that the sanctions are critical to combat iran's activity. with the oil moving. here is a legal doolittle. abigail: we take a look at an intraday chart, we see the spike higher on the announcement of the sanctions against iran and the missile test. k, ontory is on the wee pace for the weekly gain in's 2017 -- on pace for the biggest weekly gain in 2017. will it last? we have michael lynch saying this is "a knee-jerk reaction." whenever there are headlines that have to do the persian gulf, you will see a response in the markets. it will be interesting to see how this plays out. as for iran's oil production an

here is david westin. david: the markets are pricing in that tax reform.d with the most important person with this, kevin brady, congressman representing houston. he is responsible for figuring out how to do this, expecting opposition from industry, retail, some refiners, and members of congress, and also from perhaps the president of the united states itself. francine: thank you so much, david westin. i am looking forward to your program. the germany economy expanded, but industrial output fell the most in eight years. german -- now is a s associationporter president. president trump is saying germany is cheating the u.s. because of weak euro policy. your thoughts? >> well, that is completely wrong because we do not have any influence on european currency. we are a big member of the european system, and it is the european central bank that makes a low interest policy, and the euro is very weak. southerny for the european countries and for france, i admit that we are making a windfall profit on this. but it is not an issue of the and we arernment, very nea

on bloomberg daybreak: americas, david westin had an exclusive interview with eric schneiderman , whooined a lawsuit pending on the west coast. >> i think the likelihood of success is very strong, and this is one of many cases brought across the country by my office, attorneys general. so it is not completely clear which case will reach the supreme court for ultimate determination, but it is moving faster, the washington state case, than any other. it seemed the judges were most impressed by the argument and asked a very direct question -- can the president issue an order banning all muslims from entering the united states? representatives of the federal government had a hard time answering that question. i think the answer clearly is no, and the judges questioned the intent and effect of the order, which is the proper inquiry. it is clear to me with the language in the order and what has been said by trump and others, the intent and effect of this order is to discriminate against muslims and favor christians. connectiona critical because the order did not ban all muslims. it was seve

david westin and jonathan ferro and alex deal. david, i know you have an exciting show. sam zell we will talk with him for a full hour about his investment, trump trade. we're going to start off with immigration. i know you have been covering it a lot on "surveillance." strong visions. he himself is the son of immigrants from poland. we will talk about what it means for the housing market, the u.s. labor market, if trump goes through with his plan. tom: strong visions. he himself is the son of immigrants from poland. i'm worried about if you give your opening day tickets to the chicago cubs. you have to talk to him about the midwest and commercial real estate, don't you? david: we will. of realeen pulling out estate. does he want to come back in? what is the right time? he is negative on new york real estate in particular. lookingid westin, forward to the conversation with a gentleman from chicago. we need to do a single best chart. i call it the roach chart. this is american consumption right now. this is what we remember. this is a good time. trumpthat is where donald

i am david westin.ver the weekend, the trump white house was reminded that there is a third branch of the federal government. enforcement was stopped donald trump's executive order. joining us from washington is bloomberg's chief washington correspondent, kevin cirilli. we had 97 different u.s. companies, and we will put six of them appear, 97 tech companies coming up on the side of the state government, against this band. that's against this ban. there are sources i am talking with on capitol hill as well as at the white house, telling me they are incredibly surprised from the pushback they are receiving not only from the judicial system but also from the companies that you alluded to. these are big companies, companies like apple, microsoft, uber, netflix, read it. basically every company with the exception of elon musk's companies, joining this brief against the executive order on immigration. david: the ninth circuit court theypeals will rule that have briefs coming in today. what is the administrat

david westin and alix steel are with me. futures are up. 0.1 percent.ond yields are climbing. curve policy for the boj. an interesting dance this morning. off by 0.3%. no geopolitical risk premium. and the safe haven trade goals go nowhere. jon: things to watch in frankfurt. deutsche bank. the biggest one-day drop since september. deutsche bank

jonathan ferro with alix steel and david westin. slightly negative and the euro declining by 0.3%. balloons -- bunds in the spotlight. alix: a record low. yields backing down by five basis points. the yen moving higher against the dollar. gold higher, getting a little bit of a bid. david: we start the day with the trump administration on immigration. what has happened and what is about to happen. reporting for us. there are two separate executive orders. one of them is the one much reported on, banning people from seven countries. that is another one and where the was activity yesterday, one saying, let's build a wall across the border with mexico, let's hire more agents, let's start deporting people. what happened yesterday? we heardsterday, what from the administration is that they are going to be hiring 10,000 additional border patrol s at the office of immigration. they are going to make it easier for these officials to deport criminal immigrants here illegally and undocumented. this is going to launch new ,uror from the progressive left who argue these folks are entitled to ha

i'm jonathan ferro alongside david westin and alix steel.30 minutes and seven seconds away from the open, we are a quarter of 1% on the s&p 500. up a third of 1% on the dow. it is the calm amongst the chaos since a 1% move. dollar strength in the fx markets. we are up two basis points on the 10 year to 243. let's get you some movers as we count you down to the open. alix: we are seeing big movers with an underlying equities. michael courses off by almost 12%. earnings came out and it was brutal. sales to department stores were down 18% and it's cutting even more discounts in order to raise their margins. news lot of good coming out of michael kors. eva has the ceo resigning and the head of generics leaving two months ago. this has now led to earnings downgrades. archer daniels midland down by 2.5%. execution.me poor on their trading debt. they cannot get the execution up to par.those of some of the names heading into the open. jonathan: the question out still has been asking is where's the vault? shown signsade has of cracking after the prot

i'm jonathan ferro alongside david westin and alix steel. market higher as well. about five points on the s&p 500 , about 131% for european xp's as well. despite that number in europe, that pmi data, a six-year high is a weaker euro story this morning. asx: new borders were up well and prices increased the most since 2011. we are also waiting for walmart earnings to cross, we will bring them to you as they cr

i'm jonathan ferro alongside david westin and alix steel. one question. off the trump trade after a four-day skin? a blowout adp jobs report gets us back on track. the changes in the other asset classes like this. yields up 3 basis points on the u.s. 10-year. the dollar bid almost across the board. that is the action cross-assets. let's see some movers. alix: let's look at apple, up by 5% in premarket. sales were up 3.3%. overall revenue finally returning to growth. the second-quarter outlook got analysts' attention. it was not as bad as many analysts had thought. you had chinese sales up by 12%. but that is truly just about hong kong. apple still holding up well over in asia. watch the stock. heavily weighted in the dow and the s&p. in another tech story, advanced micro devices up by almost 4%. revenue was a bit stronger. also, q1 revenue outlook was also going to be done by 11%. the markets looking through that estimate into the relatively strong quarter. on the downside, johnson controls. i love talking about the industrials that you think should benef

i am to love david westin and alix steel.ill study you up for president trump's address to congress with the former u.s. ambassador to china, max baucus. the price action is pretty much nowhere to be seen. futures are largely negative. the euro is marginally positive and treasury yields are at 236, not much going on -- 2.36, that much going on. alix: all wait and see. one stock on the move is target, falling as much as 15%. same-store sales down 1% in its outlook for 2017 earnings are below estimates. a really rough outlook. to preview president trump's speech to a joint session of congress, we are joined by kevin cirilli. why don't you do that, what we are out of the president? kevin: president trump has to a detailed speech, tonight to capitol hill members within his own party who are looking for those details as they begin to craft policy. he will make the case to have a $54 billion increase to the military. he will also call for cuts to state department -- to the state department as well as the environmental protection ag

anna: that was david westin talking to dan ives. it is 8:47 a.m. in new york.e in florida over the weekend as his vice president seeks to calm foreign policy fears here in europe. more on the white house agenda coming up next. this is bloomberg. ♪ anna: welcome back. this is "bloomberg markets." for anna edwards in london you for this special president'' day edition -- presidents' day edition. late last week, his luxury hotel brand opened his third location and brooklyn, new york. while he does see opportunities, his closely watching developments in washington. oliver renick asked him what donald trump should be concerned about when it comes to the economy. >> the pace of his multiple stimuli. it's a dangerous game could the . the first thing you learn in business is don't take your banker in the face. the banker in this case is china, who bought our debt. you want increased defense spending, so you need revenues and we might go down before we go up in terms of tax receipts. if he cuts corporate taxes and individual taxes, i guess the hope is the economy accele

cfoaad: that was the gm speaking to david westin.en's $2 billion electric avenue. maker ist how the car trying to make amends for its diesel emissions scandal. this is bloomberg. ♪ rishaad: you are watching "bloomberg markets: asia". i am rishaad salamat. making headlines after forming a new subsidiary to manage its $2 billion investment in the electric cars. be called electrify and america, and they will invest in the construction and maintenance of vehicle charging stations and will fund advertising campaigns to promote awareness. volkswagen's investment is part of this legal settlement and down to that company being caught cheating on emissions tests for diesel powered cars. , not backing down in its legal fight with fitbit. it ise is saying fit under investigation by a ofminal grand jury for theft trade secrets. they have been in these legal battles since 2015, when jawbone accused fit it. -- fitbit. saying goes trade secret claims have been analyzed and rejected. industry, shares of singapore airlines on the way out down to it i

tom: david westin, thank you so much. this chart was made for us yesterday.t pronounce this. i don't not a pronounce this. there is the chart with where they were in 1999, there was no car czar. robert nardelli is with us. how much of a dog of god's is over rocksalt? robert: the board had decided to sell that business. and with the change in they confirmed it was an integral part of they wanted to be involved in the market and in spite of all of the efforts in energy, it wasn't working. tom: did you ever sit on the of the european auto factory and think, this is not detroit. it is different than what we do. robert: i can't say i stood on the floor and shouted to the masses. this is different, different meaning not good. so look, i think mary is making a very informed decision. getting up volume to be the number one producer in the world but she is focus on profitability. and that is where the institutional investors want her and that company to be. a very goodt is decision on her part. francine: what does this tell us? i don't know if down the line we it isoo

i am bloomberg -- i am jonathan ferro, alongside alix steel and david westin.d flat, the euro headed for a third straight weekly slide. alix: here is your check in. take a look at the two-year bund yield, still negative 2.8%. vix goes nowhere. crude -- nymex crude at its highest level since 2015. david: it appears we will get some

welcome from new york city from our viewers worldwide, i am jonathan ferro alongside alix steel and david westinw and s&p, and six days of dollar strength. i continue to look for where the safe haven trade is. if you look at the euro and swissie, the euro down 2/10 of 1%. ,his continues to go nowhere confounding me as they continue to talk about the political uncertainty. crudep a bit, and nymex rolling

i am bloomberg -- i am jonathan ferro, alongside alix steel and david westin. futures on the s&p pretty much dead flat, the euro headed for a third straight weekly slide. alix: here is your check in. take a look at the two-year bund yield, still negative 2.8%. vix goes nowhere. crude -- nymex crude at its highest level since 2015. david: it appears we will get some information about the trump administration's fiscal policy that we have all been promised. they are due on capitol hill by march 13 and today we heard from treasury secretary mnuchin that he hopes to have a new tax plan and acted before congress adjourns in august. joining us is david rosenberg. welcome to the program. give us a sense, what are the markets looking for, what do they need out of that budget outline? david r.: i can only really tell you what i would be looking for. i would be looking for a very clean bill on corporate tax reform that does not penalize foreign producers, risk a trade war, and does not penalize consumers by taxing imports. but rather -- and i'm talking about the border ad

tom: david westin with this. right now, ed hyman, evercore isi.sider ed hyman as a chairman of the federal reserve system. his invention of a form of market economics is known throughout the community. who should be the next chairman of the fed? ed: i like to focus on what the fed will do. tom: spring 2018. ed: right. trump will have a chance to put five people on the fed. phd do we need a monetary to be chairman? kevin more than any other official surprise me. his smartme with thinking. can we have a chairman like him are likely some decades ago, starting with arthur burns and greenspan, do we need a phd? ed: trump has shied away from economists, so kevin would be a nice mix. he is very practical. the problem will be when we get come how much9 will the fed be tightening. you get a conflict between what trump would like to have and what the fed wants to do. francine: give me a sense of what the markets need to see to price in a march rate hike. , 50-50.oment it's more than 38% last week. lot.t has moved up a it was as low as 15% late last year, bu

i am jonathan ferro alongside david westin and alex deal -- alix steel.he bank of england's asset purchase program stays on hold at 435 billion pounds, and the corporate bond buying program, both of which are set to end at the end of this month, our 10 billion on target. sterling, a 2016 high coming into this decision and then the forecast drop. alix: for 2017, they raised their gdp forecast to 2%. originally they had seen 1.4%, and they raised their 2018 forecast to

i am jonathan ferro alongside david westin. record highs at the close yesterday across the board.racement here's futures negative about 2/10 of 1% on the dow and s&p 500. if you go cross asset, you are seeing this, this thursday morning. the euro of about one third of 1%. down by about two basis points.

i am david westin in for david gura.focus every afternoon on politics and policy during donald trump's first 100 days in office. the president returns to the conservative political action conference and an enthusiastic crowd. he gave them red meat, but is it enough to prove his financials? diplomatic aftermath, secretary of state tillerson and former homeland secretary of state traveled to mexico. what they accomplished. repealing obama care, reversing the affordable care act seems easy when the republicans were in the minority. now it turns out coming up with a popular alternative is harder than it looks. a short time ago president trump signed an executive order on regulatory reform and policies. this came after he spoke at the --servative will conservative political action summit. he made it clear how comfortable he was being in front of cpac delegates and he intends to return. president trump: i wouldn't miss the chance to talk to my friends, these are my friends. and we will see you again next year and the year afte

i am jonathan ferro alongside david westin and alex deal -- alix steel. the fed rate remains unchanged. the bank of england's asset purchase program stays on hold at 435 billion pounds, and the corporate bond buying program, both of which are set to end at the end of this month, our 10 billion on target. sterling, a 2016 high coming into this decision and then the forecast drop. alix: for 2017, they raised their gdp forecast to 2%. originally they had seen 1.4%, and they raised their 2018 forecast to 1.6%. -- theirinflation at cp outlook broadly unchanged in 2017. more of a transitory effect. jonathan: some of the monetary policy committee members are signaling increase on the inflation front. 1/10 to 1.2670. guy johnson and richard jones join us. coming into this, it was this concern about inflation, whether the bank of england would come out or hawkish. what is your read? guy: it is the idea that maybe the stronger gdp line will mean that the transitory effect that somehow takes acted, transitory costs may not actually be as transitory as they figured.