friday and saturday, a significant warm-up is expected as an upper level ridge builds northward along the coast, temperatures increase aloft, and flow turns offshore. this increases the threat of elevated fire danger. no major hot spots. bay bridge wb 80 is less then 30 min from the maze to sf. san mateo bridge less then 30 min from 880 to 101. golden gat bridge drive time less than 30 min from 37 to the toll plaza. richmond bridge drive less than 20 min from the toll to 101 ( james ) breaking news we are following this morning... police in san leandro are asking people to avoid the area near washington plaza after one person was attacked and killed. another person is in the hospital with life- threatening injuries. police are still looking for the attacker this morning. police are expected to be at the scene for the next couple of hours. ( darya ) a big story we are following this morning...an oakland man is recovering after being brutally attacked with a tire iron in a possible hate crime. scott long was hit in the head with a tire iron as he walked home in the laurel neighborhood o

more people expected to travel on that july 4th weekend what to expect as "worldwide exchange" begins right now >>> good morning welcome to "worldwide exchange." i'm dominic chu. brian sullivan is on assignment today. let's check the markets right now. we're seeing deterioration for the futures. the s&p would open up about 2 points to the down side. the dow jones off by 45. the nasdaq up by 10. on the treasury and rate side of things, 2.92% is the last trade we're seeing on the ten-year u.s. treasury note two-year notes, 2.55%. on the oil side of things, big story is iran possibly signaling it could be on board for a production increase. that's putting pressure on oil 6 $64.71 the last trade. brent crude at $73.36. >>> let's look at stocks in asia the shanghai closing down on the day by around 1.4% that is a twye low for the chinese equity index a similar session in hang seng -- in hong kong, i should say. hang seng down 1.4%. japan with a gain of 0.60% norway central bank, switzerland central bank keeping rates on hold waiting for a decision from the bank of england. france down, ger

. >>> ecb president mario draghi is expected to be speaking in portugal any moment now. we'll bring you that speech as it happens something to watch over the course of this morning you can see live pictures from portugal where we expect mario draghi to speak any moment now chinese stock markets closed sharply lower. the shin zu.s. has threatened to impose a 10% tariff on 2$200 billion worth of chinese goods beijing blamed washington for initiating a trade war and vowed to respond proportionatproporti. joumanna, how much has this spilled over to europe >> quite a lot the heat map behind me is almost in red we're only an hour into the trading session. we have big moves in asian equities we were looking at the shanghai down more than 3%. also nonchinese equities are trading weaker to the tune of 2%, 3% stoxx 600 is already down more than 1%. this is a market that is gripped a bit by concerns about further escalation of trade wars let's look at individual indices. the picture is not pretty. we have xetra dax leading the down trade down 1.7%, more than 200 points in germany a

we are seeing what we were expecting.ve a look at the nikkei 225, south korea is reopening. it was shut yesterday. as you can see, u.s. futures under pressure to give you an indication. the fed decisi was at about that point. you can have a better look at that when you look at the website. this is the bloomberg dollar ,ndex -- this is the em emerging-market currency index. if you ask anyone out there, it is anyone's yes why we're seeing -- guess wh're seeg em today. you do not want to be long the u.s. dollar when the ecb might be hawkish especially given how heavily weighted th euro is 12 hours away from that ecb decision. looking at expectations, i showed this earlier. the fed might be tilting hawkish. when you look at the euro-dollar spread into next year, it does give you an indication we might not get there. in then the current bets market, that is one hike, two hikes next year, maybe one and a half this year. the market is not convinced. if you add those together, that is a moving target. year, we are not even at thr

here in south korea i think no one expected there to be a breakthrough in this summit today but i think for many people people that i've spoken with see this as the start of a process that would not only lead to the denuclearization of the peninsula but also perhaps the end of the korean war or replacing that decade's old environment this agreement with a permanent peace treaty. jason south korean president moon jay and said that he hardly slept the night before the summit in singapore do you think that his expectations for what was to unfold today have been matched or he really hinges entire international reputation on this summit he has acted as the facilitator from the very start he had said not only to the south korean people but to the world that he could make the impossible happen that he could make the u.s. leader and the north korean leader sit down across from one another and i'm sure any agreements made i think anything short of the talks completely breaking down is good news for the south korean president now trump has reportedly given security assurances to north korea will

and expectations are even lower. this shows the annual balances and the income versus costs in each year. and last year's trust he tee eport so the red line. at you can see is things are worst. but by the end of the period they are better and in between they fluctuate. why does that happen? the big thing in the very near term is we are expecting lower payroll tax revenue and we will get into that a little more later on. after the near term, we are expecting effects to really kick in. we have some changes to our rates. and in the longer term, mortality. there has been bad mortality experience recently. hire death rates than we expected, which is bad for all of us but good for the social program unfortunately. the sooner people die, the less benefits they get. so bad news-good news story. >> you can see the trustees' report has a smaller negative balance so by that time, i think because of the mortality effects, we are in petter shape. >> so real quickly, we will not go through all of these numbers. if you want to go i

. -- then we've expected. the black site-- the black line is death rates, since 2009 they've been fairly level. generally we expect mortality to improve and it really hasn't been since 2009. another thing to point out, this is all ages. we look at things by specific age groups but this is sort of a summary of what we've done. the cutter light-- the colored lines, in every report we've been expecting mortality to continue to improve. it hasn't happened in recent years. i talked to my folks in the office who have preliminary data for 2017. it looks like the black line is going to go up a little bit next year. still not looking good. >> continuing the trend. >> just another figure that probably looks familiar, it shows the difference between the cost of the program which is the blue lime-- the blue line and the income which is the red line. the blue one drops down at the time of reserve depletion in 2034 to equal the income line. the blue is really covering the red at that point. that is because once reserves dep

what spots are expected to be hottest and how long the heat advisory is expected to last in the bay area. >>> looking over here. light traffic in san jose. 101, hoping this traffic ends. i have a feeling things will change. >>> plus, the latest on the breaking news we're following in downtown san jose. a large building still smoldering after an overnight fire. a live report is straight ahead for you. 4:57. you're watching "today in the a live look outside at san francisco >>> good friday morning to you. you've made it to the end of your workweek. a live look outside in san francisco. hustle and bustle it will be moving in a few hours, i'm sure. it is just seconds before 5:00 as we get started with our day and thank you so much for starting yours with us. i'm marcus washington, and i'm kris sanchez. laura garcia is off. >>> we are bracing ourselves for the heat. vianey, it's going to be much hotter. >> going into the dangerous heat category especially heading into this weekend. why a heat advisory is in place. how much of a warm-up? already in the upper 50s at this hour. san jose 59 degre

another warming trend is then expected late next week. next week. expected late trend is then anotherarming trend is then expected late next week. next week. expected late trend is then another warming day holiday. independence averages for the seasonal falling to below temperatures with temperatures falling to below seasonal independence day holiday. another warming trend is then expected late next week. (ken) already in action fighting fires in lake county, calfire is using air tankers to aggresively attack wildfires before they rage out of control. (pam) at the air attack base in hollister.... firefighters say they are ready to take off at a moments notice. when the call for help comes in, these s-2 grumman tracker bombers .... can be virtually anywhere in the bay area within minutes. each carries a payload of 12-hundred gallons of retardant. their job is to stop the forward progress of wildfires .... that allows crews on the ground a better chance to contain the fire before it gets too large.captain marc ditullio/calfire: "in the military they were used to drop bombs on submarines

-- as i said yesterday, lifting wage expectations. my concerns have been a 2% wage has become the standard in australia, and we are getting reasonable labor productivity growth. 2% wage growth does not make for 2.5% inflation on a sustained basis. i have been talking publicly quite a lot about trying to lift wages to 3 rather than 2. whether that works or not i don't know, but i would rather do that than deliver more monetary stimulus lifting wage expectations. >> thank you. [applause] i can see everyone preparing their resumes for the federal reserve bank of australia. >> thank you. japan's economy has improved significantly over the past five years since the introduction of quantitative and qualitative toetary easing, or qqe, april 2013. the economy is no longer in aflation, defined as sustained decline in prices for the however, wages and prices have continued to show with development, compared with a strong economic expansion. the mechanism behind this phenomenon is not entirely clear. today i would like to talk about the recent e

what are your expectations? we heard that negotiations won't include anything about north korea's human rights record, should it be?>> i caution people to think -- >> live pictures of the two of them shaking hands, history in the making. >> absolutely historic. we will see what happens. i don't expect major announcements. i expect that they will get toged chat and get to know one another in this 45 minute preview of more meetings. >> could we be on the verge of a major breakthrough? do you think kim jong-un really would give up his nuclear program? that is what we are saying, that is what we will accept. >> historically, we would say no, but we have been seeing different signs coming out of the regime over the last few months, that indicate that maybe some other solution will be in the offing, for example the security provisions, king sure that nortkorea won't move away from a dictatorship, that we would keep them in office, may be enough to get them to move. honestly, it is a new day, possibly for north korea.

what do you expect, who expects to come out of this ig report?we are supposed to get around 3:00 pm today, rumored to be 500 pages which is extremely large and my experience, there are four names that stand out, james comey's name thrown around is leader of the fbi at the time of the hillary clinton probe, andrew mccabe, his deputy director and andrew stzrok and atty. gen. loretta lynch. we expect, we heard reports the ig referred andrew mccabe for criminal charges because of an alleged leak that favored him. we don't know about james comey. >> and her mccabe is anticipating what is coming out in this report, and the doj, this is what jeff sessions is expecting from the ig report. >> a lengthy report and careful report, 6 any problems we have and assure the american people summary concerns are not true. >> what do you think of what he had to say? >> it is interesting, if there was any misconduct, there will be committal charges and the atty. gen. is safe and not guaranteeing the department will go after someone at this time. what we know about th

not expected this morning. let's bring rosemary, in. >> reporter: we have temperatures into the 90s for the afternoon. we have the microclimate pattern in place. the coast will remain with an onshore breeze and in the 60s. areas like pacifica and half moon bay could be warmer. more on those numbers in just a moment. there's a look at the ridge over the pacific. that is what will bring us a warm weather. the north flow is already in place at the surface. there is that fog right there. it stretches right about pacifica down through half moon bay. mostly clear skies over the north bay coastline as well as santa cruz. it's likely to remain through the afternoon. the breeze is not going away completely. you can see the upper level winds coming from the north. posterior to the service we have an easter breeze out of oakland. we have a west breeze in fairfield. generally light and calm over the north bay. temperatures right now 54 degrees to start your day in san francisco. 56 in oakland. these numbers are a little wa

low 70s -- 60s expected. i expect folks will be lining.n the parade begins, low 70s under a mostly sunny sky >> we will continue to climb into the upper 70s near 80 degrees. in the downtown oakland area. it's going to be sunny. it's going to be warm. a little bit of water and sunblock will be good. here's a look at the extended forecast. the hotter day is going to be on tuesday, when our land areas reach into the upper 90s. we will feel it at the coast. by thursday into friday, still looks pretty good. upper 80s in the forecast. upper 70s around the bay. 60s at the coast. >> what do you think? >> i like that you can move from the coast to inland if you want it colder or hotter. that's what i like about the bay area. >> thank you, rosemary. >>> the giants beat the washington nationals 2-0. they also beat one of the best pictures -- pitchers in baseball. >> driven to right field. very deep. helping get crawford into the all-star game. >> reporter: brandon crawford had a great game. the giants' pitchers also had a great it. derek holland and

if there is a reasonable expectation of privacy in these records than a warrant is required. even looking at the statutory, the government points to the stored communications act as the law requiring disclosure. but when congress amended that statute in 1994, it provided two mechanisms for access to records. an order, as used here, and a warrant. a person looking at that statute will be quite reasonable to -- and right to assume the reason there is a warrant is to deal with records like these in which there is a strong privacy interest. >> your argument, as i understood it from the brief and today, makes the stored communications act and the 2703-d order irrelevant. you do not even talk about it. in an area where we are searching for a compromise, why shouldn't we give significant weight to congress's determination that there should be and will be some judicial supervision over these investigations? >> congress enacted the stored communications act in 1986 and amended it in 1994. three tenths of 1% of americans had cell phones in 1986, only 9% in 1994. there were about 18,000

i will have a look at what you can expect coming up. i'm dianne feinstein and i approve this message. i support the affordable care act, and voted against all trump's attempts to repeal it. but we need to do more. i believe in universal heal care. in a public health option to compete with private insurance companies. and expanding medicare to everyone over 55. and i believe medicare must be empowered to negotiate the price of drugs. california values senator dianne feinstein >>> welcome back to "mornings on 2". president trump is taking to twitter this morning, saying he has the right to pardon himself. that statement comes as the president's personal lawyer says the president has no need to pardon himself because he hasn't done anything wrong. doug luzader is joining us live from washington with more on the president's >> reporter: this is the tweet in question this morning. we will focus right now on the first sentence. as has been stated by a numerous legal scholars, i have the absolute right to pardon myself. why would i do that, wn

the ceo says he expects the investment in the u.s. to pay off. >> if they want to dwell, have a little bit more time then go to a kiosk, they can browse through the menu. they start selecting and see the broader ranges or they may want to customize the food they've got. you can also pay clearly on credit/debit there. you can receive table service. take a little tent card, take it to the table and we'll bring your food out for you. so what we are finding is when people dwell more, they tend to select more. there is a check boost as well. >> investors liked what they heard sending the stock higher in trading today. >>> a battle is brewing between dow component boeing and two of its largest suppliers. today boeing raised the stakes by announcing it will start building a key component that for years has been manufactured by honeywell and united technologies. that lifted shares of the stock by about 1%. phil lebeau on why boeing is branching out. >>> boeing is best known for building some of the most popular commercial airplanes in the wor

the f-d-a is expected to reach their decision by the end of this month.up next on the kron 4 morning news ... a bay area homeowner wakes up to áflames... in his back yard. now he has a message... for the arsonist... on the run. ( robin )whenever there is a dog problem in parks... the complaint from some dog owners can be... that there are not any dog parks nearby. but in this case... there was one right across the street. stanley roberts reports in this edition of people behaving badly. so you're sitting at the park in san francisco lets say rossi swimming pool and playground in the inner richmond nats: ambiance then suddenly a huge orange furry dog appears. nats: ambiance no the dog is not on a leash it's just walking with the owner though the park, some of you might not see a probl

well i can tell you what they don't expect the markets don't expect a rate hike but it's the expectations towards the near future that are less clear now investors are of course are watching out for any indication of when and how the e.c.b. will and its bond buying program and they may present a roadmap today or they could wait until the next opportunity in july to do so now an argument for doing so today would be improved expectations around wages around wages and inflation and that would allow more time for markets to repair on the other hand waiting another six weeks would allow them to assess the risks more appropriately that are potentially coming out of italy to the eurozone as well as a recent economic slowdown so as usual a fine line for mario draghi and his colleagues to walk their own so you have homes in the afternoon thank you very much you know them alone in front of. a bidding war is going on between two u.s. media heavyweights for most of the assets of twenty first century fox disney was widely tipped to take over its small arrival with a bit of over fifty two billion dolla

and we expect the job market to remain strong. as you can see in our summary of economic projections the meeting of the projections for the unemployment rate stands at 3.6% in the fourth quarter of this year and runs at 3.5% over the next two years. a percentage point below the median estimate of its longer run rate. this median path is a bit lower than that from march. after many years of running below our 2% longer run objective, inflation has recently moved close to that level. indeed, overall consumer prices as measured by the price index for personal consumption expenditures increased 2% over the months ending in april. and food attendance to be an indicator of inflation rose 1.8% over the same period. as we had expected inflation moved up as the unusually low readings from last march dropped out of the calculation. the recent inflation data have been encouraging, but after many years of inflation below our objective. we do not want to declare victory. we want to ensure that inflation remains near other symmetric 2% longer ru

expecting a high of 60.omfortable cool bit of late spring early summer if you are lucky enough to find yourself in the moneterey air. this is what we were waiting for. hang on to this picture one second more. this is an amazing look at mother nature doing her thing. a nice way to start the day before you turn on the coffee pot, get behind the wheel, go to the office, the regrind of monday. 7:30 thanks for joining us, i'm gasiamika elian. >> i'm dave clark. steve is off. rosemary is here. i told you i went to your hometown and spent the day in livermore. the most wonderful people there. rick miller threw the best pool party. >> you need a pool in livermore. >> watching the warriors. now we can go to rosemary. >> sounds like an amazing day. >> it was. >> i bet you were hot in livermore yesterday. >> hot, yes. >> hot. well, we will cool it down in livermore today. we will cool it down for inland communities, north bay, east bay, south bay. here is a look at the element that will provide us with the cool down. w

is expected to leave that quickly. that doesn't mean it is true if it is scheduled, because let's say donald trump and kim jong-un get along with each other, yet he is scheduled to leave five hours after the summit start. hallie said, this is a historic time. kim jong-un had never met a foreign leader and now will meet four foreign leaders. as president trump said yesterday, this is a one-time shot. it's a great opportunity for peace and prosperity. donald trump says he's on a mission for peace. >> i don't have my compass out, but this could be the farthest he's gone from home for kim jong-un as he landed in singapore today. hallie, i saw you wanted to pipe in there. >> reporter: well, just to collaborate with what bill is talking about here, richard. you talk about the idea of the reuters discussion that he may be leave not long after starting the meeting. this is notable depending on how long this goes, how many times the two leaders meet again. expect the unexpected and predict the predictable, richard? >> they don'

that is what we are expecting to see. some further regulations imposed from the u.s. side, restricting chinese investment in the united states. this move on tariffs was pretty well telegraphed. trump said he was going to react very strongly on trade with china. fact we havete the now confirmed that china has agreed on this merger, which was part of the trade negotiations that china said they would agree zte was allowed to get back into business. that is where we are at. -- china will respond to these tariffs once they are initiated by the united states. haidi: have we heard anything from beijing? tom: not officially. we know from sources that beijing will retaliate in kind and quickly, once the tariffs are officially imposed by the united states. china has said all of these discussions and agreements around britain -- ripping up its imports -- ramping up its imports, deals would be put on ice if these tariffs were imposed. there is always concerned about an official measures being imposed on u.s. companies operating in ch

next year, in 2019, a year earlier than expected.ure jay powell will be asked about that at 2:30.

in place in expect -- inflation expectations are influenced not only by economic fundamentals and theulative impact of our past policies, but also by market expectations of future policy settings, including net asset purchases. week,of our meeting last the medium market expectations for net purchases beyond september, 2018 was small. it follows that the contributions to our inflation outlook for next acted future net purchases was also modest. assessment,of this last week, the governing council concluded that progress toward a sustained adjustment in inflation has been substantial so far. as we announced we anticipate 2018,fter september, subject incoming data confirming our medium-term inflation outlook, we will reduce the monthly case of the net -- the monthly pace of the net asset purchases until the end of december this year, and then and net purchases. while a knology the increasing uncertainty, shows that we are confident that the projected convergence in the path of inflation will occur with sufficient probability without further net additions to our stimulus. the economy and t

a top aide is expected to hand deliver a letter to president trump today.fficials have repeatedly said a summit would be aimed at the denuclearization of north korea. the trump administration is preparing an unprecedented intervention into energy markets. according to a memo, the government wants to use emergency authority to order grid operators to buy electricity from struggling coal and nuclear plants. a move to extend the lives of the plants. the italian president has sworn in the first populist government in western europe. 18 ministers took the oath of office bid including the prime minister. the antiestablishment five-star movement and the anti-immigrant party agreed to former -- form a coalition government after a political deadlock appeared a formal handing over of the government is scheduled today. confidence votes on the new government in parliament our next week. the trump administration has ofked off investigations market rigging that began under the justice department. the u.s. has opened a criminal probe into whether traders manipulated price

he is expected to be okay. police questioned the fbi agent before they released him to an fbi supervisor. >>> the cost to fly could be going up. the reason some major airlines are limiting ticket sales while considering fare increases. >>> trying to ease traffic jams in the bay area. commuters may not like the price tag that comes with it. we have details about regional measure 3 on tomorrow's ballot coming up. >>> the bay area bridges are not too bad right now. san mateo bridge looks pretty good heading out to the high- rise. >>> we have some patchy fog out there. the breeze is making a return as well and cooler temperatures are expected for your afternoon. we will talk about how long the trend will last coming up. ly marshall tuckwill c. year after year, policians fail to improve public schools. tuck turned around failing schools, raising graduation rates 60%. marshall tuck for state superintendent. marshall tuck. ♪ ♪ legendary jockey vÍctor espinoza is insatiable when it comes to competing. ♪ ♪ so is his hor

meet the expectations in the expert community were not necessarily that high and also the expectations i think from the u.s. administration were not overly high no one expected that kim jong il would lay down and say all of my nuclear weapons are yours you can do whatever you want now this is not the expectation expectation was that they would get to know each other and this expectation has been that now the hype of the second round it that's a different story that's i think one that definitely plays to trump space in terms of denuclearization this is of course at the core of this discussion what is north korea looking at when they say denuclearize asia because we know that the definition of the americans are looking at is very very different for the north koreans denuclearization is just a step by step process and this is what you can also read in the in the activation now that they've signed together that they regard this as incremental steps step by step that they could take there's a word about it of being it being verifiable or it being irreversible so i think this is it shows us

ill show you what to expect for this weekends big event.mercialá)(áábreakáá) (darya)(james) a robust warming trend is forecast from friday and late saturday as high pressure builds in the bay area. highs are expected to climb into the 70s and 80s near the ocean and bays and from the 90s to 105 inland. this will lead to hot conditions on saturday with moderate to locally high heat risks across mainly inland portions of the region. additionally, winds will turn offshore, bringing heightened fire weather concerns to parts of the area on saturday. cooling will begin on sunday along with the redevelopment of the marine layer for early next week. no major hot spots. bay bridge wb 80 is less then 30 min from the maze to sf. ( james ) breaking ( james ) ( james ) breaking news out of san francisco... police are investigating a double shooting that has turned deadly. ( darya ) kron 4's sara stinson is live at the scene with the details. sara. ( sara ) gunfire erupted shortly after 2:30 this morning on the 2700 block of harrison street in the mission

the two children are expected to be okay.itnesses say the pedicab operator took the brunt of the hit when he flew off the bike. the two children... ages 5 and 8... were thrown from the wagon. the driver did not stop and was last seen driving along the embarcadero towards the bay bridge in a light colored sedan. police are now looking for surveillance video to help them find the driver. ( james ) happening now... happening now... cal fire is gaining ground on the pawnee fire burning in lake county. ábut dangerous weather conditions are expected to return. here is a look at the latest numbers. the fire has burned close to 14-thousand acres. it's now 30-percent contained. we are expected to get new numbers around 7 this morning. some evacuations orders have been lifted... and evacuees were able to return home yesterday afternoon. <"i feel really, really good because i'm going to be one of the really lucky ones.i'm grateful to be home, i feel blessed.">( james ) ( james ) the pawnee fire has destroyed 22 buildings... including 12

in the air. >> exactly high expectations because of this one on one meeting. the results are that we're not expecting breakthroughs but coming also on top of a lot of news over the weekends for markets to catch up on the world is kind of watching. the u.s. markets and vice versa right now. meantime, let's get a look at the setup of markets ahead of the historic summit. futures actually look pretty mildly to be adding to last week's you see the dow industrials indicated to open up by about 41 points the s&p 500 just above the flat line nasdaq pulling back. that was the relationship last week as well dow outperformed the nasdaq pretty substantially you see treasuries quiet and yields heading higher. 10-year note up 2.96 overseas markets notably quiet to positive markets mostly there as well. you see japan up about half a percent. the hang seng in hong kong up 1/3 of a percent. shanghai backing off half a percent. south korea, you have to take note up 3/4 of a percent ahead of this summit in europe, markets adding to the gains from last week you see more so than

futurerm rates r real rates and expected inf lation.t also represents the term also be which can comprised of the real term premium and inflation term premium. left represents the first moment of the statistical distribution. other part represents the other moment of the distribution. at is important to focus on when you want to have a few -- have a view of the future. if inflation risk premium, if de fears, not actual or expected deflation, but fears about the possibility of that picksand -- if up, the inflation premium changes dramatically. it could become negative at some point. we would address rates, that could be one of the ingredients. this part which exerted a negative impact on rates has totally disappeared. i will come back to that. i think a very important point for you in the room, we can talk about these is the real term premium. what do we mean? the easy thing is about the expectations of real interest rates. as an indicator, the long-term what doxpectations, people think in 2003 about long-term goals? in his 2003 -- you h

we expected it to be dropping after the peak but the to turn back around up to a more stable, expected level. that has not happened, and the interesting part of this is there's more to come. in the year 2018 2018 we see tt applications have continued to decline which we did not assume when the assumptions were set about in the last calendar year. >> you can also see in these graphs they were projecting in the long run the applications will end up in about the same place. that is, a trustees assumption to suitable go back to a more normal level. >> more normal, what we have believed is more normal. >> what we expect is a more normal level. >> and whether we should be modifying that is another question. this is very, very similar, the distal incidence rates, the number of people new starting to receive disability benefits as a share of those injured and not already receiving a benefit. this looks very much like the other graph. we see our expectations in the last several trustees reports it up and realize. the rates keep dropping. the one thing that is a look that different on this and a

and more than a million people are expected.s 6:30 in the morning. a reminder there is no rally after the parade. the team will have an interactive part of the parade that can be seen online. in other sports news saturday the san francisco giants were in action trying to win their third in a row in washington. exciting start to the game as the washington capitals who just won the stanley cup showed off their trophy to start the game. they then threw out the first pitch. bottom of the second....giants already down three to nothing and matt adams rips this ball. that is a shot to deep right center. two runs would score. nationals up 5 to nothing. top of the third...here come the giants. nick hundley at the plate...hundley says good day and good bye....three run home run. five to three giants. washington though...just too much for the giants...bryce harper sends this ball deep...real deep...it's gone. nationals beat the giants seven to five. the oakland a's tyring to win their third in a row and it didn't start very well. top of th

i don't expected to go very far.e do have it along the coast if you're going to be driving through out the morning hours. it could be a little bit thick. we do have a variable wind in place. some localized seabreeze. that will keep temperatures in the 60s. you get away from the coast. we are looking at 90s for our inland cities. upper 70s to low 80s for our east bay shore lines. the farther inland we and what and antioch expected to top out in the low 90s.

-- were expecting. a trade balance in negative territory. we are seeing a deficit of $296.8 billion. we were expecting a swing back into a surplus. we did see early data suggesting imports may have increased faster than exports. this was driven by the entire oil prices, but the outlook for trade is positive with exports given the fact the yen has weakened. it is ok to watch those. not a huge reaction to dollar-yen, but we will watch out for those numbers coming through. why bond fund managers are rethinking investments in malaysia. the weight of the this is bloomberg. ♪ s bloomberg. ♪ this is daybreak asia. i am ramy inocencio. yvonne: i am yvonne man. bond investors turning skittish on malaysia. investigations opened into the 1mdb scandal. it is almost 60% higher for previous estimates. welcome to bloomberg fx reporter joining us for more. tell us about the fallout and how managers are listening their portfolios to reflect these? reporter: it is not great news on that front. bond fund managers are turn

what would you expect to be reasonable to expect out of that tomorrow?nsensus perspective. i don't feel like i have any special insight but the perspective we would have would probably be that maybe at the -3,er end of the range of 2. not 3-4. the consensus seems to be that we will see a lift, we will see how it unfolds from their. it also depends on how the economy shapes up for the rest of the year, what happens with trade. if this were my job to guess this, i would want to collect more information before i had a guess. the economy shapes up for the rest of the year, what happens with trade. david: looking at it from the ceo point of view, s depends on what the growth expectations are not just for 2018 but into 2019. some people we talk with say they are concerned the tech stimulus is a sugar high as it were and we will come back down. concerned about the back half of 2018, into 2019, 20? bob: i think they are concerned but i would stay with the idea that people are forward leaning in on the front foot, they are interested in making investments. my per

i'm joumanna bercetche these are your headlines don't expect an asylum agreement at today's eu summit, that's the message from angela merkel who says they have a way to go on migration. >>> european equities see red dragged down by basic resources after a late stage selloff in china as the u.s. tightens investment restrictions. >> the president was very clear, we'll treat china the way we treat other people to the extent we're worried about transactions, we will block them >>> the white house and kremlin agree to a summit between donald trump and vladimir putin after the nato meeting as washington defends the president from criticism over his stance towards moscow. >>> and h&m second quarter profits fall more than expected as higher markdown levels and growing inventories weigh on the world's second largest fashion retailer sending shares lower. >>> good morning let's check in on markets. we had some big swings in u.s. equity trading towards the close with all three major i dindices closing in the red asian markets, we saw further losses with chinese equities down about 1% yet again.

we expect that to come in for the was recent number.e as we look at the fomc meeting, bloomberg economics is saying whatever that number comes out, don't expect it to change anything because that is set in stone. looking at china, china's growth, looking at china's growth last 12 years, this is what it means, slowing growth, industrial output, the same as last month. fixed asset investments also. onight spot, retail sales. that might surprise to the upside. yvonne: thank you. as you mentioned, inflation growth, those are the key things to look out for. the central banks have that on the radar as they prepare for crucial policy decisions. let's get to kathleen hays, the global economics and policy editor. let's start with the fed kicking off the central bank's best on wednesday. kathleen: a rate hike, the second one this year considered a done deal. inflation has risen. it is near the target. retail sales are rebounding. lower unemployment, all expected to support the rate hike. the fed is expected to move slowly because they want to mak

expect highs in the 60s along the coast and 70s-80s inland. temperatures then fall back to below seasonal averages by the weekend and into early next week because of a deepening upper level trough. ( robin )a big story we're following this rninng... a utility worker was hit by a car... which rolled off of a tow truck... and later died. it happened yesterday in san francisco's diamond heights district, on 28th street between diamond and castro street. kron 4's j.r. stone has the story. sot she's got a three year old....boy or girl...little girl..a san francisco public utilities worker in tears after the loss of lilianna preciado. a plumber who was fixing this hole when a car being put on the bed of a tow truck rolled off the back and hit her. impact that later proved to be fatal.sot there was three in that hole...two guys jumped out right away they saw the car coming and jumped out...but she was still there. preciado was hit by the rolling car and was alive when she was taken to the hospital where she died.sotthe owner of th

the fed is expected to hike. all eyes will be on the dots and guidance there we were talking about the disappointing data in the u.k. you can see it's hanng in around 140 again, ten-year italy is back in focus. we have said equities have bounced. we're seeing similar amounts on fixed income it's rebounded. >> as you mentioned, central banks are in focus later this week as both the fed and the ecb meet just one day apart. the fed is expected to tighten policy for the second consecutive month and the ecb could have a regular time line last week they said the central bank will start discussing an end to its bond purchases. he added that inflation is rising back towards its target >>> meanwhile, president trump lashed out at g7 leaders and in particular canada's justin trudeau on saturday as he pulled his support for the group's communique in a tweet shortly after his departure from the summit trump accused canada of imposing massive tariffs on u.s. farmers. the u.s. president also warned that his team are looking at

the american people expect and deserve nothing less. thank you to our witness for your testimony in our members for being here and with that we are german. speefive. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] washington journal continues.

expectations time to all of you. sue, your expectations for this meeting, how much have they changed and developed, based on the information, based on the level of detail in preparation? how long do you think this will go? >> we'll soon find out. president trump says he's the greatest deal maker. we'll find out. thus far, he's been breaking deals. so we'll see. if he doesn't come out with more than just a vague statement, that is not a success. a success will mean we will have to have kim jong-un absolutely declare his intention to denuclearize as we define it. they need to agree to very robust verification regime, and a timetable for that. so that's going tube very tough. even if we get that agreement. the we have agreements with north korea. we had in the past many agreements. every one fell apart over verification and implementation. so we'll soon find out whether he's the greatest negotiator on the planet, as he claims. >> a lot has made about his preparation, as someone who worked for both the bush and obama adm

the inflation story that we got today was in line with expectations that we are still expecting the possibilityte rise this week even after the moves we saw from the central bank last week. reporter: that is correct. this number was exactly in line with expert nations but by no means a good number. it is twice the target of the central bank and heading towards trouble. looking into the details shows producer inflation is perhaps a bigger problem at 20%. that number is likely to move higher. guy: benjamin, let us talk about the response of the central bank to this number. what we did not get is the market signaling that it wants more. we did not get the lira selling off as a result of this data. nevertheless, you say the data is not great. is the central bank saying that they have done enough or do they think they need to do more? benjamin: the lira appreciation is up 1% on this data. the centrald that bank has to do something on thursday. raise rates. investor reports are saying that if they do not do anything, they will be punished. matt: what about the election coming up? erdoganly is it give

deal with the volume of paperwork and just regular work that they were expected to do they also expected an awful lot from these poor men and i feel deep deep sympathy for my rikon chairman because they were expected to organize harvest on the collective farm they were expected to go out and do propaganda work they were expected to study leninism and marxism and they were expected to have all of these different meaning some of these people had like eighty four different meetings a month. they simply couldn't keep up and i think that modern russia faces a lot of the same problems that you have chronic understaffing of a lot of bureaucracy and even when you get. staff it just seems like it doesn't work particularly efficiently because of this desire to fill out all of this paperwork with soviet union try to fix things a lot of the reforms involve more paperwork and more paperwork and i think this reliance on fixing things through paperwork reform is a problem of the putin administration. you said before the even at the height have to tell me terribly as my russia was under govern in other

they were up more than expected, 10 of 1%. strong labor market is helping cushion the blow from high gas prices. there has been views of d militarizing the border between north and south korea. news, 24 hours a day, powered by more than 27 hundred journalists and analysts in more than 120 countries. this is bloomberg. vonnie: thank you. much more ahead, up next, china's economy fell short of expectations in terms of growth. just as president trump renews his threats to impose tariffs. teresa may is said to make a deal with rebels in her party and we will have the latest on the u.k. brexit plan. later today, we will talk exclusively with stephen traden, a former lawyer for bill ackman. lots of stories here and that's at 3:00 p.m. eastern. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. ofk: life in the city london, i'm mark barton counting you down to the european close. vonnie: president trump is gathering his trade team to decide whether to move ahead on tariffs for chinese goods. he said he will confront c

san jose, you are expected to go to 86. temperatures are expected to climb. starting late tonight, that would flag warning in place for some of our north bay locations. i will have details on that in just a moment. 5:36. good morning, sal. >> good morning. i don't see a lot of 60s on that board behind you. >> no, it's going to be mild, warm, hot. >>.it. i know which way to go. good morning, everyone. let's go back to the solano county commute and talk about 80 westbound. speaking of heading west, if you're driving from vacaville and vallejo, it's not a bad drive. there has been no major problems. there has been a couple of minor things going on. for the most part, they traffi througa crowd. right now, we don't have one. leave it alone. let's go back to pam. >>> thank you, sal. we have new information about that hit and run crash that let -- left eight pedicab driver severely injured. investigators say they are looking for a gold or champagne colored four-door honda civic that hit the pedicab wednesday afternoon along the embarcadero. there's some surveillance

what can we expect? >> we are expecting exports to be relatively strong.hs of april but still, a strong number for for april. exports are going to be strong. we are also expecting imports to pick up by about 18%. another strong number of cores. the trade balance is expected to $33 billion. we have a terminal which shows the export import pictures since a 14. the export and import are at the bottom of the chart and the blue is the trade balance. what you saw was a big help in wards the endrts to of the year. we saw a deficit in march. it has been up again. as you point out, this is clearly in focus. this obsession by president trump on the deficit, the $257 billion deficit with china. that is why it becomes an even more important data point. yvonne: joining us from beijing. thank you. after a $4.3 billion ipo. they are looking for a piece of the blockbuster action. they may be out of luck. the spring and the opinion columnist who has a view for us. -- let's bring in the opinion columnist who has a view for us. >> is a thing you really need to look at. this