william dudley's comments saying imperil thei would economy. look set to break out. what is key is leverage funds are net along with the euro for the first time since 2014. this is g #btv 185 on the bloomberg. this is volatility on cable, one month volatility. ever soseen it tick up slightly. look at it compared to where it was in brexit. julile: -- julie: the nasdaq gaining steam as the day has gone on. we see this rebound in tech stocks on relatively heavy volume. tech shares are the main reason the s&p 500 is higher. both tothe dow and s&p records. also seeing strengthen the financials as the rates rise. you heard nejra mentioned the comments from bill dudley. he said he is confident the u.s. expansion has a long way to go. the dollar bouncing almost one quarter of a percent. what is interesting is even with are stille, rates relatively suppressed, considering we have seen a full point increase in interest rates in the u.s. bloomberg. the fed just raised interest rates another 25 basis points. here are the four interest rate increases we have seen. here is the lev

deeds. era of using kitchen knives to do their -- dudley deeds.bs, they could have been so difficult to ascertain whether they we re difficult to ascertain whether they were real or not —— —— dudley deeds. i've been looking at this is 1998 and this is the first time a suicide vest has been used as a deterrent. it was to prevent the men around them from fighting. three or four men could overpower a man with a knife very easily. so they use these vests to deter people. we now know the vests were fake, they weren't real at all, so this is an interesting development. once they have used this fake technique, it loses its effectiveness next time they try it. good point, but incredible courage from the emergency services because they didn't know they were fake. m15 have their work cut out, 500 active plots, 3000 people they were monitoring, is this sustainable? it's been going on for some time and it's been very effective, one thing we should remind ourselves of, even though these three incidents have got through, there are dozens of successfully interru

dudley, the markets siding with evans.ng at what is happening in the auctions space, it is clear the market is pricing out september, pushing up by a considerable margin. atop the most important thing to come from charles evans was his comment that inflation is run below target for eight years and this was a serious policy miss. that sounds a lot like the talk we have been hearing about a policy ever or mistake regarding this latest hike. they have some soul-searching to do. are they going to be data -- dependent and wait if the slowdown is transitory, or are they going to go ahead with this plan to normalize whatever happens to the data? as far as treasuries go, i think they have taken a dove case all year. even though the fed has raised rage, treasury yields have falling. the pattern for the first half holds in the second half, yields can head lower. we see the market is giving the fed a free pass. rates are falling, financial yet,tions are decent and they are raising rates, sticking to their targets and going to reduce

great interview erik did with the bp ceo bob dudley.e background is the russian putiny, prudent -- restoring the geopolitical swagger. only recently as you can see here, the economy has just been limping to growth. that is the backdrop to the conference taking place. agenda president trump's seems to be stuck in neutral. there are more elections in europe, oil rebounding, but -- joining us to discuss all of this is gary schilling. six latest views are non-term economic investment fees. the overarching theme is the trump trade never should have been, potentially. outline why you think that. gary: that was overenthusiasm. people thought there was going to be instant rapid growth, deregulation, instant fiscal stimuli, replacement for obamacare, a host of things that they forgot the trump was elected as an outsider running the -- against democrats and a lot of republicans and he has congress to deal with and even if they get big fiscal stimulus through congress, i think it will be in terms of infrastructure and military spending, it still t

david: the same day, will dudley said he was confident inflation dudley said hell was confident inflations coming. saying "inflation is lower than we would like but it the labor market continues to tighten, wages so gradually pick up and we will see inflation get back to 2%." marketith us is strategist for bcg partners. michael, we have this disagreement, forget within the fed, but particularly the two the markets on the one hand in the fed on the other. agree incally 2017, but the market is not fine with the fed is selling in 2018. what is going on? >> the proof is in the pudding and data for inflation is not there yet. other economic data we have seen for the month of may have been disappointing, so those things are really what is behind this next set of expectations. while the fed is saying they will raise rates further, forthing it has been saying a long time, it has been slow to do so and the numbers on forecast that been lower. last week, the fed members own forecast, the mean of the expectations for 2017, 2018 and 2019 come all three were that were, so the meeting expectations they

yields took a landfill dudley was speaking in new york.s wage gains catching up. url against the dollar slightly higher on the day and crude was lower it is now a bit by .4%. the markets are open here in the u.s. and want to see how they are faring. let's go to abigail doolittle. abigail: we are looking at records for the dow and s&p 500. the dow and s&p 500 are up by .2%-.4%. the nasdaq is not putting up a record high public the gains of .7%. last week, the dow finished up words for the fourth week in a row. the nasdaq down for the second week in a row area it will be interesting to see what comes with the tech selloff. will it continue or will we see a healthy consolidation? as the paris air show gets underway, we have movers. including boeing and airbus. nice gains here. news for each of these companies. $30ng is getting ready for billion in orders. airbus has gotten a $10.8 billion order from ge aviation. ge, it is down slightly but it had been higher in the premarket. they have created a $2 million leasing aircraft with a quebec pensi

talking about banks, but mario draghi and dudley talking about the financial markets as well. central banks have to keep an eye on what is going on because it is in good times that you make bad loans and markets get overextended. they are converging on the let's watch what's going on message. mark: with carney tapping banks on the risk today, he said that banks may be forgetting the lessons of the past by relying too heavily on their own estimates of the risks on their books. was that a mild telling off or not? jill: potentially. there was a question the prince conference as to whether he should be telling off consumers who are borrowing at levels seen pre-financial crisis. to that, i think you would just say you need to be aware of the risks and the same advice always applies, especially right now in this heightened uncertain environment. mark: jill will be there later listening to fed chair janet yellen. thanks to our u.k. economy reporter jill ward and bloomberg's michael mckee, our economic policy correspondent. do not miss our coverage of janet yellen's conference. 6:00 p

dudley has urged americans to find ways and inevitable transition to a low carbon economy. >> the markets are reacting the shares in the largest wind turbine company dropping. sliding again. there could be more drilling in the u.s. and that could -- exacerbate what you indexes on the continent are seeing games the frankfurt dax fell -- high. unemployment is at their lowest there in 2009. now to china where the ministry said they had mastered tech knowledge he to mine for combustible ice. notably here you'll. one cubic meter of it is the ofrgy of 164 cubic meters natural gas. billionrve is around 80 tons of oil. they've been extracting this for 22 days. >> we have concerns through geological surveys there are two large gas field of cubic meters each in the south genesee. -- south china sea. n establishment for commercial mining in the future. >> a lot of fossil fuels, hopefully. >> thank you for that up. in a few hours, the french astronaut will return to earth past 196 days he has been at the international space station did we are standing by at the national center for space studies. what

this morning the fed is waiting to hear from william dudley for the latest thinking on monetary policyomic policy. weaker than expected houses and consumer sentiment slowed the wall street rally. for the week, the dow gained 111 points. the s&p finished point higher, and the nasdaq added 56 points. >>> following news that amazon was buying whole foods for $13.7 billion consumer stock took a hit but sent whole food stocks up over 9 points. it makes amazon a big player in the bricks and mortar success. >>> and if you're shopping on any amazon owned whole foods, they've been awarded a patent to spreenlt you fr prevent you from comparing. they can prevent you from accessing a competitor's website. it can block you or direct you to an amazon approved site. >>> today begins tech week at the white house. president trump will meet with business leaders to discuss work force and tech issues for much of this month. this week will focus on issues facing silicon valley. the chief executives of apple, amazon, google, and intel are among those taking part. >>> google is cracking down on ha hate-fill

we did see bob dudley earlier saying he thinks climate change is still an important art of his businessas been a volatile week for the pound. on wednesday the currency touched its lowest level in more than five weeks at the outcome of the june 8 snap election remains far from certain. with got some polls showing the possibility of conservatives losing their majority. most polls still put them firmly in the safety zone. let's bring back rbc's, from europe's headquarters, adam cole, the head of global fx strategy. -- all you think about the election, all the poll results, i'm not sure how much investors trust polls, but when you see a shock poll, it really hits the pound hard. adam: yes it does. i think there's no doubt that markets have gone from pricing a very large conservative majority to just a conservative majority. knowing where we are exactly is difficult. we can look at prediction markets. be betweenss would 80 and 100 seats from around double that a couple weeks ago. where do we go from here? i think the risk is that that comes down further. reasoning would point to a majority s

i will retweet a great lightning picture from one of our friends, the dudleys were up at bottlerock lastear and he got an amazing photo that i will retweet. >>> it is 4:18 am. >>> another dominating performance at the movies from not this "wonder woman" but another "wonder woman" and we will take a record look at this superhero movie. >>> san francisco iconic ferry building will soon be up for sale and more on that transaction. i'm joy bauer, and as a nutritionist i know probiotics can often help. try digestive advantage. it's tougher than your stomach's harsh environment, so it survives a hundred times better than the leading probiotic. also in chocolate. probiotic bites! at at&t, we believe in access. the opportunity for everyone to explore a digital world. connecting with the things that matter most. and because nothing keeps us more connected than the internet, we've created access from at&t. california households with at least one resident who receives snap or ssi benefits may qualify for home internet at a discounted rate of $10 a month. no commitment, deposit, or installation fee.

. >> that was paul dudley reporting. a day pass for the shuttle is $5. children 12 and under ride free. >>> time is 4:47. >> i was just thinking about that because there are charity rides that go through the big sur coastline and there's still no plan. the best buddies that raises $4 million for mentally intellectually disadvantaged individuals, that's every september around the 11th. still, no word yet on how you're going to get around that big slide area on your bike. >> it is a relief to the community to get some way around temporarily. >> for now. >> maybe we'll walk around. >> good idea. gorgeous place for it. >> do some hiking. the good news about the 4th of july coming up is there's no big impending heat wave. we had that heat wave last week that lasted over five days which is very prolonged. today we're talking about a gradual warmup. temperatures right now into the 50s across the board. we do have the overcast skies looking out over the skyline. you can be sure to guarantee there will be some delays on some arriving flights at sfo. 40s santa ros

paul dudley on the new shuttle service launching just in time for the holiday weekend. >> reporter: aternwood resort in big sur manager diana balentien is ready for a big weekend. >> it's been a tough year, a year of constant change. >> reporter: a tough winter damaged the canyon bridge so badly it needed to be demolished cutting the community in two and highway 1 is still blocked on the south side. >> when the ridge slides on the south of us came, the electric went out and the phones didn't work. we were stranded up. >> reporter: a shuttle service is set to start up on saturday in the hopes of getting back to some sort of normalcy. >> our guests will get to take advantage of that and get shuttled over to the south part of our big sur valley. >> reporter: one shuttle will pick folks up in the afternoon at the state park and make stops at the river inn, fernwood resort and pfeiffer big sur state park and visitors will be able to hike around the bridge to the other side, a place i'm told has been very quiet since the community was cut in half. >> we walk down the highway the middle of th

bill dudley said today inflation should rise alongside wages allowing the central bank to continue to gradually tighten interest rates.influn shl policd the economy is in a good place right now. >>> americans are feeling good about the economy, the conclusion of cnbc's latest all america survey, certain key components hitting all-time highs. steve liesman takes a closer look at those results. >> reporter: economic optimism in the united states remains strong, as the post-election bump continues and even looks to be strengthening. the percentage of americans optimistic about the current situation and optimistic about the future remains at a record 30%. spurred on by surging republican optimism and democratic pessimism that remains below republican levels during the obama years. >> on the stock market, we have three straight tracks in a row dating back to when just right after trump was elected where people are saying it's a better -- it's a good time to invest in the stock market even as we've seen record high dow jones industrial averages and record high stock prices in many sectors,

just about the data dependency, but we heard from bill dudley, stanley fischer, janet yellen, and johnabout these richer valuations in the market, right? do you think that will be the agenda now for the fed? , the financial conditions continue to loosen in the u.s.. compare that to europe and right, edging higher in terms of financial conditions loosening, but you can see the u.s. is definitely outperforming on that front. our financial conditions giving more prevalence? >> i think financial conditions have eased, and central banks are clearly watching those, but they are also watching economic growth, which is picking up. that is the key. i know janet yellen and dudley have mentioned the rich friday rations in stock market, and i know they are wary of bubbles given the bubble in tech stocks 2005-2000 six,g so i know they are sensitive to that, but i don't think that will be a guiding force going forward. i think it will be growth, inflation, and wage growth. >> i want to bring it back to the u.s. and one of the topics we talked about, which is the stress tests here do you think they a

either reducing the balance sheet or does it ultimately mean we will get a pause in the cycle, the dudleyichael feroli: i think we get more details in the statement and more likely and the press conference and of language in the press conference. when it occurs, there is a big debate. some people think september is something december. we are in the latter camp. involve, whatll on to clearly say it is a bit of a fog. we think the meeting they will initiate balance sheet normalizing which is in december, we do not think they will hike. we think that in hike again in march of next year if we see growth and inflation a. vonnie: what does it look like? does the fed reduce re-buying agency secure sink -- security? or what is the makeup? michael feroli: i think they have been clear they want to reduce both securities, agency and then treasury. and they havet said this in the minutes of the last fomc meeting they will gradually phase and the slowing and reinvestment at each month, that will have a monthly cap, a cap on the maximum rolloff and that will be adjusted upwards every three months. we t

eventually, as president dudley ago,oned just a few months if they do not see a response from the marketsl just push harder. that is what they are ready to do. anythingill we see about asset prices and whether some of them are inflated and if that is the reason why the fed is continuing to raise interest rates? >> she will probably be asked that, and that is a great question. we have a function on the bloomberg that shows the fed financial editions very easily. it is definitely -- financial conditions very easily. it is definitely something keeping them up at night and the reason why they will continue their policy. look like aoes fascinating function. thank you for joining us. bloomberg will bring you special coverage of the that decision tomorrow along with the press conference starting at 1:00 p.m. new york time and 6:00 p.m. london time. mark: a big day tomorrow. coming up, the fate of brexit lies with northern london. prime minister theresa may faces some demand from the party that could give her a minority position. the charts are still down by about 1.4% as you can see. this is blo

william dudley has bullish comments on the u.s. economy.t spurred gains in the dollar and send sent treasury yields higher. let us bring in reporter garfield reynolds. good to see you. how is this likely to play through in asia today? garfield: asia is looking rather sunny this morning. i think both because u.s. equity markets rebounded, led by tech. maybe they wanted to put on a good face for donald trump. but more importantly, the dudley comments sent the u.s. dollar higher. a big concern for a lot of asian economies because we do a lot of exporting is what is going on with the currencies and when the yen weakens, when the aussie weakens, when the korean won takes a break from its recent gains, that is all seen as being positive for the exporters down here. those currency gains for the u.s. dollar, that is good news for asia, especially with the that talk of u.s. -- the backdrop of u.s. stocks rising as well. everyone is watching will msci finally bite the bullet and add china to its indexes? if it does, and it seems like the feeling that

this is come to from bill dudley #458.rk fed president, because we have not seen anything big in theet, the fed is working. because it is called, it is not disruptive. angie: calm and cool is sherry and sitting right next to us. >> those comments will be key. we will watch that on bloomberg markets: middle east. ban byf that travel president trump have been reinstated by the u.s. supreme court. what parts exactly? it is interesting that they are exempting people with a bona fide relationship with a u.s. person. what does that mean? whoooo. you're searching for something. like the perfect deal... ...on the perfect hotel. so wouldn't it be perfect if there was a single site where you could find the right hotel for you at the best price? there is. because tripadvisor now compares prices from over 200 booking sites... ...to save you up to 30%... ...on the hotel you want. trust this bird's words. tripadvisor. the latest reviews. the lowest prices. ♪ geopolitical risk on the rise. >> china's manufacturing may have already peaked this year, with signs of factories will slow down. >> and tak

holding the panamanian president, there will be a lot of fed speak, reserve officers from william dudleyrobert kaplan and the vice chair speaking out to move markets. haidi: all right, thanks for that. u.k. businesses want the economy to be the top priority as brexit talked get underway in brussels. but xavier various and says they may be facing the sweet spot conundrum. what does it mean? this is bloomberg. ♪ ♪ haidi: test betty: good morning, i am betty lou. haidi: you are watching daybreak australia. year afterl this tepid inflation numbers are weighing the fed's announcement it would raise rates, looking to unwind that balance sheet. with brexit negotiations underway in brussels, how does that play out with the bond market? let's bring in the global chief of this bank. great to have you. it is interesting reaction when it came to u.s. treasuries, because for the long-term it was like bond investors had doubts despite how well telegraphed janet yellen was being. >> but they need a particularly good job, and as you said, two rate hikes so far this year, but with the central banks and d

jim dudley is in san francisco state with sfpd. >> in a race like this, you know the route. you know your vulnerable areas so you can certainly implement things to reduce the threat. >> this was a concept developed by the bridge patrol office in concert with our security coalition partner whose include chp and homeland security and fbi. >> she says there is no specific threat drivers northbound would have to find another way from 6:00 to 9:00 a.m. in july. >> the buffer separates the runners from the southbound traffic but in the past, it didn't separate them from northbound traffic. this year, if the board votes and will allowed to continue. it's only the northbound traffic that will be impacted. >> reporter: so in the past empty lanes and cones were used as the buffer. the board is expected to vote on this on friday. reporting live at the golden gate bridge, christie smith, nbc bay area news. >> thank you. >>> trying to get back in the right lane at uber, late last night ceo and co-founder travis ca kalanick announced he's out there are rumors surrounding a potential new c

here's dudley dursley 20 years ago.e's the governor of [ cheers and applause ] >> steve: wow! >> jimmy: it's good to see that they are all doing great. we have a great show, you guys. give it up for the roots, right there! [ cheers and applause ] ♪ ♪ [ cheers and applause ] >> jimmy: thank you very much, everybody. hey -- thank you very much. guys, it is monday. we are so happy to be back. we have a big week of shows coming up. tomorrow night, steve carell will be here! >> steve: oh! [ cheers and applause ] >> jimmy: love him. plus we have lily collins and music from sheryl crow. [ cheers and applause ] a big show. we have a giant week this whole week. we have kristin wiig, we have alex rodriguez. [ cheers and applause ] alec baldwin -- [ cheers and applause ] >> steve: hey! >> jimmy: and julie andrews will all be joining us. [ cheers and applause ] >> steve: what? >> jimmy: but first we have a a great show tonight. he produced the soundt t pharrell williams is here. [ cheers and applause ] i love that dude. he is the r

. >> reporter: lisa dudley, jonathan's mother, has seen how bodybuilding has improved her son's self esteem. >> a lot of times he knows that he is different and there are certain things that he cannot do but this is one thing that he knows that he can do that you know there are some guys in for self confidence i think it's been awesome. >> reporter: with encouragement from his trainer, jon traveled to phoebus, virginia in february 2017 to compete in the body sculpting open. he had never been on a stage before, or been in front of so many strangers. he was one of two participants to compete in a challenged division section of the competition. >> when i saw him on stage i felt very nervous, but i was proud. i was proud that he actually went out in front of all these strangers and hundreds of people. and it was like he had done this a hundred times before. he didn't look the first bit nervous and he looked good. he looked really good up there. >> oh it was great. he loved getting the trophy. every part of it he was just a champ the whole way through. the beauty in it is you can always g

jim dudley is a lecture in criminal studies at san francisco state and former deputy chief. >> situational awareness of current events influences how the events are run. and so, when we have 15 years past 9/11, we tended to let our guards down when right after 9/11, we were doing things. >> this was a concept developed by the bridge patrol office in concert with our security coalition partners to including the chp and department of homeland security and the fbi. >> reporter: she says there is no specific threat here, for runners, the pattern would remain the same, but the lane used for northbound traffic will instead by used for security for 6:00 to 9:00 a.m. >> if the board votes to approve this, the southbound traffic will be allowed to continue, it's only the northbound traffic that would be impacted. >> turns out the runners certainly a fan of better security. kristy smith reporting there. officials said it was too late to make changes to the actual event and they felt this was the best option. that closure runs on sunday from 6:00 to 9:00, so for light traffic there, the board votes o

we heard from william dudley. cycleting the tightening would imperil the economy.t are your expectations since you heard from yellen last week? our focus is on balance sheet reduction as we go into december. my colleagues in the u.s. expect another rate rise from the fed in september which will set the mark for this balance sheet shrinkage. janet yellen leaves the fed infirmary. if you could engineer back from when she leaves and she will -- her legacy will want to put into play. but it will be an interesting issue for markets as we go through next year. the markets have to absorb a lot more treasury issuance. up till now, they had a lot of issuance sucked up by the u.s. fed itself and that is going to change going forward. all central banks face a major issue. some core inflation remains low. the: although even with implied dovishness of charles evans since yesterday, it is surprising the hawkishness with which the fed is able to operate, meanings they are on track to raise interest rates as much as they have recently forecast, and they are talking about reducing

bob dudley underscored his backing for the plan to cut greenhouse gas emissions. >> we've got to tryer carbon form of energy. i have no doubt it will happen. i think we need to be really clear, rather than walking away from it, what you put in place in the united states. sophie. citigroup traders facing the same slowdown in activity that's dragging revenue across investment bank this is quarter. they said, quote, we're right in line with what others have said. he was referring to earlier remarks from j.p. morgan executives who indicated second quarter trading revenue will all by at least 10%. manus: thank you very much, sophie. good morning. >> good morning, maus. this chart pretty much -- manus. this chart pretty much sums it up. this is the asia-pacific index trading at its highest level records in&p 500 hit the session. as you're seing the nikkei move higher, you're seing the yen weaken. dollar yen up on dollar yen generally a move toward risk assets and away from havens. the dollar is holding on to gains triggered by the a.d.p. report, looking ahead to jobs data today as well. i

with bpked exclusively ceo bob dudley about the impact of the opec deal to extend production cut.ented agreement. i think it hasn't stabilized coming to a degree, the oil market. i think, if they did not come to that agreement, they would have lowered prices. i think they are bringing supply and manufacturing back into balance. level, it willck take some time, but i think it's going in the right direction. erik: rent is just north up $50. at the cuts not been extended -- have the cuts not been extended? bob: keeping everything equal, we would probably be in the 40's. erik: low 40's? bob: probably not. i think there's as much impact by libyan production. all these things can go up and down. getting these agreements in place to keep the oil prices between 50 and 60, i think that is probably the objective. suggests futures curve that oil will be trading in the 50's once these cuts expire. what reason is there to think that is the case with the cuts have required oil from dropping into the 40's now? oil from dropping into the 40's nine-month from now? bob: there are so many variables.

we are watching out for appearances by the fed policymakers william dudley and charles evans statesidelet's get to our mliv team in singapore. what are we expecting from the very hawkish, surprisingly week?h fed last what are we expecting to hear from the governor's this week? this will be an opportunity for officials to get the market and fed on the same page which they do not seem to be. there is a bunch of stuff happening in the trade market that you would associate with a period of cutting rates, but they are raising. we had fed president kashkari explaining why it he thought the fed should wait. he thought inflation was moving downward away from the fed target. so the fed and treasury market are not on the same page. to raise rates this year and the treasury market is signaling it will not happen. those two have to come together somehow. matt: there was a lot of chatter after the decision not sweet about a fed error, probably referring to janet yellen's tone. what are you hearing about the markets and what is the outlook for treasuries? guest: this talk of an error or policy mista

natalie putt, who was 17, and had a baby son, left her home in dudley to go shopping, but never returnedl shop and never returned. her baby son was just 11 weeks old. at the time of her disappearance, it was treated as a missing person's enquiry. in 2004 and 18—year—old man was arrested but later released without charge. police now believe she was murdered. in the past, extensive searches of nearby parks and woodland have turned up no trace of the teenager. police say they are acting on evidence they believe to be credible. 0n acting on evidence they believe to be credible. on saturday evening, natalie's photograph was amongst a number of images of missing people displayed during the britain's got talent final. since the show a number of people have come forward with new information. it's that type of information that drives for would—be enquiry. it's been a long time since she went missing, we are com pletely time since she went missing, we are completely relying now on the public coming forward. as i've said before, i'm convinced there are people who know what happened to natalie putt

dudley getting scratched up in the last few months. trump criticizing the london mayor. i went to show you with what is being said. at least seveng , and the49 wounded mayor said there is no reason to be alarmed. the reason is that trump linked that there iste no reason to be a long. the mayor was telling people not to be alarmed by actor police on the street. theish media later asked mayor for a response. he said he was focused on the response and then added this, i just have not got times to respond to tweets from donald trump, i have better and more important things to focus on. giving short shrift to the president. donald trump came back early this morning, 11 hours ago, and said pathetic excuse from the london mayor who had to think fast on his statement. the mainstream media is working hard to sell it as he claims. a lot of tit-for-tat and back for in fourth. . there is some diplomacy happening across the atlantic. there has been bipartisan support with some leaders of congress. house majority -- senate majority leader mitch mcco

lowering prices and that's something you've seeing in the bond markets as well >> so is that what dudley a flat i don't knowing curve is is not necessarily a negative >> i think that's part it have he had some comments out this morning. you're seeing it again in the curve in terms of curve flat i don't knowing that's bringing back into the market some expectations around -- the fed is going to continue to proceed along its path of normalization for the front end but the longer end market moves are still reflecting a couple of things, the pressure on inflation, the longer run pressures on inflation and an unwinding of earlier expectations for a faster pace of normalization that's really coming outs of the markets. >> so the yield right now is -- where does that leave the market when they said they are going to be hiking interest rates >> in the week where you got the fed giving a relatively hawkish announcement and signaling its intent, you had a bigger disappointment, bigger surprise in terms of a continued weak print on cpi you're seeing it in terms of inflation and inflation expectatio

the guidance got to worry about this, bill dudley of the new york fed.isten to in the coming days. good morning in downtown new york. what a gorgeous view. onbe with some news in a bit fox. this is bloomberg. ♪ jonathan: the big banks on wall street unleash major payouts after the federal reserve gives them the green life. central bank leaves investors bruised and confused. d.c. gridlock pushes the tax reform story towards 2018. the struggle to secure enough votes to pass the republican health care bill continues. city, this is bloomberg daybreak. i'm jonathan ferro alongside alix steel. we are welcoming and a redwood redwood from- anna london. let's get to the board. .1% on the s&pp 500. euro-dollar prints a new 2017 high. we have a 114 handle

i met with dozens of team members who spoke canned dudley about their experiences. from this feedback, we're able to get a clear overall view of our organization. we have no perceived outcomes and the fwelz and direct of the the state department are not coken exercises. the principles and subsequent evaluation of our organization are the same as those which i stated in my confirmation hearing for foreign policies. we will see the world, what it is, follow the facts where they lead us and hold ourselves and others accountable. we are still analyzing the feedback we received. and we expect to release the findings of the survey soon. from all of this one thing is certain. i am listening to what my people tell me are the challenges facing them and how we can produce a more efficient state department and circumstancesaus. through my career i have never believed or ever experienced that the level of funding important to a goal is the factor to achieve it. our people will determine our ability to be effective. my colleagues at the state department and usaid are our greates

this follows a week in which the san francisco said president john williams and stan fischer, bill dudleyyork fed, and now yellen, four big hitter, have fallen into line over the issue of asset prices and financial instability. the issue for the fed, we think of it as being an inflation driven central bank. not so. they are looking at an agenda, which is what we criticized greens bank for not having many years ago. guy: what is interesting is, in some ways, central bank are doing this for different reasons. carney was out yesterday and we will hear from him later on as well, talking about pockets of concern within the u.k. surrounding credit cards, car finances, etc. it is not clear that there are threads that joined the central banks together. it is an individual their attempt that in aggregate makes sense. >> i think this is coincidental policy. i agree we have seen a shift, but every central bank is acting for a different reason. the economy in canada has been picking up this year, and the macroeconomy got worried about the home capital problems and possibly, the property market. overa

treasuries hit session lows and the dollar rose after william dudley said halting the tightening cyclem to the economy. the fomc voting members that if the federal they were not to withdraw accommodations, the economy would crash to a very low unemployment rate and generate inflation. joining us now isthe ceo of global investors. it is always a good time to speak to andreas utermann. if you look at the fed, you take the bet they need to do something for inflation, or you believe janet yellen in saying the labor market at some point will generate inflation. where do you stand? >> we think the tightening is going to continue into 2018 and they are serious in terms of their intentions to balance the balance sheet. francine: what does that mean for your investment portfolio? >> while we think lower for longer is over, interest rates will remain subdued, as you mentioned. inflation is not an issue. the fed and ecb next year as well, will try to balance, making sure they do not crush the economy and at the same time , get the yield curve where they wanted to be. tom: when i look at the equit

had so far in the last three days we've had stan fisher, the vice chair of the fed, we've had bill dudley as dovish financially and mario draghi and mark carney and had the bis, so you're starting to get some critical mass of central bankers saying, you know what, it's not just about the economy doing better, we're starting to worry about the consequences for financial stability. >> yeah. rob, i wonder if people -- you know, let's assume as this tightening happens hand more bonds are sold from, you know, central banks into the marketplace, if yields move up a little bit, there's probably plenty of buyers out there, too. i mean, we've been at such dramatically low levels, you know, it could be enough to keep a lid hon things from moving conigliaro. >> it could be, we don't know. years of buying from central banks, so we're about to test all of that, but i just want to -- actually i thought what janet said was really positive, right? she said that there will be no financial crisis in her lifetime, guys shouldn't we be celebrating? >> i know. i'm getting a lot of heat because, you know -- al

west midlands police are exhuming several graves in a cemetery in dudley as part of an investigationn 18—year—old man was arrested on suspicion of murder in 2004 but released without charge. a bright light, believed to be a fireball or meteor, has been seen in devon. the footage was recorded by a beach camera in dawlish on friday night. dr robert massey, from the royal astronomical society, said it was almost certainly a fireball, which is a very bright meteor burning up in the earth's atmosphere. that's a summary of the latest bbc news — more at 10.30am let's get the sport now with jess. the cause of death of former newcastle player cheick tiote, is still being investigated, according to chinese club beijing enterprise. tiote collapsed in training with his new team, and later died in hospital. he was just 30 years old. he enjoyed some of the best years of his career at newcastle, where he played for seven years, only moving to china in february. his former manager steve mclaren has led the tributes, saying he was the toughest player he'd ever seen. he was combative, he was just a wa

to help unpick all of this, we have in the studio ruth dudley edwards.tion in the next 48 hours. it is highly unlikely. given the dup will not be negotiating sunday, a custom and practice of the party. i think we are ina practice of the party. i think we are in a deadlock here. if there is not agreement, then what? direct rule, probably, for a not agreement, then what? direct rule, probably, fora time, some measure of it. i agree with eamon, i can't see how they will resolve it. from my perspective, i think the problem was sinn fein did not want the executive to come back and so made an enormous number of demands that they knew the dup couldn't actually do. but then when the money happened, the £1 billion, they want to have a part in influencing how it is spent, how do they actually back down and save face? it is not easy. but as you say, the £1 billion if they want to decide how it is spent, they want to decide how it is spent, they need to unlock this? yes, but they need to unlock this? yes, but they don't want to disillusion their supporters. so how d

william dudley not paying much attention of signals of concern from the bond market.sing anybody on what to do here. stuart: what would you? >> it was my personal money, definitely buying opportunities. when you look at the financial rates, interest rates are going up, calm down. lock at the dow. above 21,000. who would have ever geed we would have been there today, varney. stuart: you take it all. sandra: i miss stuart varney. stuart: do we have this now, justin? we are on tape now. let's look at it. the president gary cohn and wilbur ross, roll it. >> okay. thank you very much, we have many great members, secretary of defense, we have some of our really wonderful meetings here and you have your leaders with you and your representatives and we are going to be discussing two things mostly and number one would be north korea, we pretty much discontinued that last night at length and we have a very strong solid plan and number two is going, of course, trade. the deal is up and we want to make a fair deal for the united states and north korea. gary cohn and wilbur ross i

we couldn't do our job if it wasn't for their willingness to share can dudley with us the work that we need to see. this is the ninth public hearing this committee has had this year. that is twice the historical year-long average of this committee. i think the vice chairman and my's biggest challenge when this investigation has concluded is to return our hearings to the secrecy of a closed hearing, to encourage our members not to freely talk about intelligence matters publicly, and to respect the fact that we have a huge job, and that's to represent the entire body of the united states senate and the american people to make sure that we work with the intelligence community to provide you the tools to keep america sov and that you do -- america safe and that you do it within the legal limit or those limits set by the executive branch. we could not do it if it were not for the trusted partnership that you have been able to lead, and others before you. so, as we depart from this, this is a pivotal hearing in our investigation, we're grateful to you for the professionalism you've shown and