bonnie wongtrakool of western asset management, rob waldner of invesco and greg peters of pgim. greece taking a step towards normalcy. that conversation is next. this is "bloomberg real yield." ♪ jon: i'm jonathan ferro. this is "bloomberg real yield." greece takes another step towards exiting a bailout program in august, selling 3 billion euros of seven-year bonds with the yield of 3.5% inside their initial target of 3.75%. investor orders doubled the sale . in january, bonds were sold by state and companies, the most in 11 years. a series of treasury auctions in , the lowest since november. still with me, greg peters of pgim fixed income and bonnie wongtrakool of western asset management and rob waldner of invesco. ed you the bond market, you would have never known what was happening in the equity market in europe. why is the rest of the world, why is the bond market holding up this well in europe? rob: it's all about the drivers of this correction. we think it is inflation that is the driver. when inflation is the driver, inflation is good for spain and italy and greece. it i

bonnie wongtrakool of western asset management, rob waldner of invesco and greg peters of pgim. coming up on the program, we take you to the auction block. greece taking a step towards normalcy as it bailout nears an end. that conversation is next. this is "bloomberg real yield." ♪ ♪ jonathan: i'm jonathan ferro. this is "bloomberg real yield." i want to head to the auction block now where greece took another step towards exiting a bailout program in august, greece selling 3 billion euros to seven-year bonds with the yield of 3.5% inside their initial target of 3.75%. investor orders doubled the sale. topping 6 billion euros. meanwhile, emerging market issuance is booming. in january, bonds were sold by states and companies, the most in 11 years. in the united states, a series of treasury auctions, the lowest since november. the 10 year sale had a yield of 2.81%, the highest level in four years. still with me, greg peters of pgim fixed income and bonnie wongtrakool of western asset management and rob waldner of invesco fixed income. robert, i want to start with you. if i showed

coming to us from atlanta or is rob waldner of invesco fixed income.reg, is the volatility going to spread across assets? it is a big conversation. acrossoing to spread assets? at the moment, it is contained to equity. does it get across credit? greg: i think so. i think the volatility regime is shifting. it is being led by the equity market, for sure. but i do think it's going across different markets. you will see it across these markets. bonnie: i think the bigger question is, should there be more volatility? you have to look at what are the causes of this? is it because of market sentiment and positioning or because of fundamentals? clearly, you have to acknowledge that market sentiment positioning can have a big influence on the market and that's what we are seeing. this is a market that wasn't used to anything moving, equities going in a straight line up, and now we are seeing fairly big moves, although in a historical context, not that big. on the other hand, you have the fundamentals. is there a big change the fundamental picture? we don't thin

hooper of invesco is going to be sticking with us.sed some ecb accounts from its latest meeting. we will break it down for you. this is bloomberg. ♪ alix: this is "bloomberg daybreak." i'm alix steel. are 30 seconds away from the ecb account of meetings last month. european stocks getting hit. dana disappointed. we are looking at what is happening in the dollar, mixed. dollar-yen lower as the yen continues to surge higher. hit as a weaker fourth-quarter gdp read. yields are steady. a little bit of a safe haven risk. the ecb account is out. here are some of the highlights. the ecb agreed a guidance shift was premature, they may revisit it early 2018. they acknowledged the need for steadiness in communication and will potentially revisit their guidance shift in early 2018. the conversation was timing and sequencing of a rate hike. how deeply did they discuss that and what were the options? it appears they did not at all and may revisit in 2018. euro-dollar goes nowhere, maybe stronger on the margins. some officials wanted to drop the ea

chief global market strategist at invesco. let's check in with taylor riggs with more on -- from new york. >> new-home construction rose to the highest level since october 2016. to almostarts were up 3 million. the big boon was in apartment buildings. there is a report donald trump had a next her marital affair with a former playboy model. used payoffs to keep news out of the media. the white house calls it fake news. consumer sentiment rose to the in 2004.vel tax cut's and a strong job market help americans shrug off the volatility. global news powered by 2700 journalists and analysts in 120 countries. this is bloomberg. mark: coming up on bloomberg goes high-tech. andpush into east courts danger tracking. -sports and danger tracking. this is bloomberg. ♪ passed away and leave money in a bank there are a number of ways they can achieve funds even if we don't leave instructions. with bitcoin it can be harder. an american software engineer was left with the knowledge his son was an early minor of bitcoin. a number of companies

we'll speak with invesco power shares head of etfs about dealing with the volatility.we were down 600 when the show began, now we're down 550 again. the volatility, the roller coaster ride of this market, tyler. we're back right after this. most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. at ally, we created a savings account with a great rate. but if that's not enough, our app helps monitor your spending too. and if that's not enough to help you save, we could start a carpool. look at this traffic. don't worry. ok, if that's not enough we'll start a trainpool. oh i have a meeting in five minutes. and if that's still not enough... i got it. we'll just create a shortcut

joining us is christina hooper from invesco thank you very much for joining us this morning on "worldwide exchange." one of the big questions today is whether or not the markets rebounding off the recent lows they've had will be as focused on the stock side of things on that key piece of inflation data coming out today what's your take >> i think markets will absolutely be focused on cpi that is the biggest question facing the economy right now, are we going to see significant inflation. some signs point to yes. given that we have a lot of late cycle stimulus given the kind of antidotal information we've seen from the federal beige book and the blowout wage number we received in the january jobs report >> do you think the strong earnings story can offset any concerns around inflation? can that be enough to continue to push stocks higher? >> i think the strong earnings story is priced into the stock market a more aggressive fed, higher rates may not necessarily be priced into the stock market that's what we have to worry about, the potential re-rating of stocks. >> one of the things we've

on the live show today we're joined by christina hooper with invesco. she'll tell us why this pullback isn't a one-off event. plus michael dudas will break down an anomaly in the gold market >> thank you so much, jackie if you happen to be tuning in right now, i call your attention to the down, down more than 2%, a loss of more than 525 points as we speak. watching the s&p closely as well, 2,632, a near 2% decline as well. some technical damage being done once again in the market today the s&p has broken below its 100-day moving average so we're watching a whole bunch of different factors, not withstanding what's happening in the bond market, the ten-year note yield had ticked higher, 288. you're looking at four-year highs. that was putting pressure on stocks then even as bond yields started to decline, stock prices were going down more as well, perhaps people seeking a little bit of that safety trade today. that's currently where we stand. we'll step away for two minutes, and we'll be back right after this see that's funny, i thought you traded options