j.p. already had a strong position in this part of kashmir in the last election day we had 23 percent of the world's think in long term perspective the idea is to do. fundamentally change the political. conservations one aspect is also that all the leaders of the major parties in the existing parties in kashmir has been put under house arrest which also shows and you say fundamentally changing when you talk about people being put under house arrest that can't go on forever more there has to be a resolution to the situation yes if i guess on that oh yes the resolution will be new elections resolutions will be does new institutional set up of the union territory which much more limited competence is compared to in a state the union territories. are administered by the home ministry so it shows that they will have much less space yes and the political solution is to implement some form of democratic representation which will be done with new elections but the protests will go on yes i don't think new elections will solve anything in all likelihood. muslim politicians will boycott it because the

the manufacturing sector globally by some measures is already in contraction if you look at j.p.organ's global purchasing index for manufacturing. it is in contraction. germany, industrial production down by the most in a decade. there are a lot of signs things are not going well. cuttingcentral banks three banks again just overnight. is legitimate concern this expansion could be coming to an end. i do not want to predict anything. that is what the market is telling us. amanda: look, the concern is, what happens -- the concern is, what happens if that happens. i was looking at a story on the bloomberg about danish mortgages basically add zero. maybe it was only a matter of time when you can borrow that easily, you pass on the low-cost borrowing. thinking smart people this goes on a long time. what do we make of that? >> we're looking at the bond complex. it is the ferocity of the move and yields. it is the biggest five-day drop since the debt ceiling debacle in 2011 for the 10 year. the speed of that move is something that speaks to how entrenched the lower forever dance with reg

already hitting u.s. consumers. even before the new tariffs were announced yesterday, j.p. morgan estimated american families will pay an average of $1,000 a year because of the higher tariffs on china. after the president tweeted friday that he had, quote, hereby ordered american companies to stop dealing with china, the stock market tumbled more than 600 points. he said he wasn't concerned about that either. >> not at all. not at all. we're at 25,000. so don't tell me about 600 points. >> jonathan karl traveling with the president in france. he joins us now from france. jon, we heard the president ordered u.s. companies to stop dealing with china. now president trump's doubling down saying there's a presidential powers act on the book that gives him that authority. >> reporter: he said that today. he cited the 1977 law called the international emergency economic powers act. tom, this law has never been used for anything remotely like what the president is talking about. if he tried to do it, congress could stop him. the bottom line is i see no indication that the administ

j.p. morgan advisor can help you. visit your local chase branch. >>> thank you for joining us. it's a busy morning already.g this overturned big rig on 80. >> eastbound 80 at appian way. this truck flipped over some time after midnight. and it flipped over because it was avoiding someone who was stopped on the road and had just stopped on the road eastbound on 80 at appian way. a big rig came up going full freeway speed and did not correct in time and flipped over. so we do have traffic that's going to be busy eastbound on ,

j.p. morgan says buy the dipping stocks. do you agree? bob: we've already been overweight in u.s.d add more just now in the wake of all this news. sometimes it's better to digest the new event. we do have our asset allocation meeting the monthly meeting kicking off tomorrow so much we'll see what the rest on the team thinks. but with regard to china, u.s. trade tensions, this is just another example of our long-term call that the tensions will be here for many years to come. and so investors just need to be prepare for these evens good and bad and incorporate that into their strategy. alix: how? bob: how? well, one, making sure that you're getting paid for the risk and focusing on risk asset which is are most likely to survive hese episodic tweets and strategies. and it's also the reason we're overweight and we like having interest rates in the portfolio which we think offer a more conservative way to get equity return in these troubling times. and we also like high yield. and we're staying away from emerging markets. we're underweight there. and we're neutral european and japanes

j.p. morgan upgrading liberty to overweight to the firm citing tail winds including inflation in sports media rights, a longer race calendar and better monetization opportunities. let's start with that one, the fun one. it is already up 30% year-to-date but the upgrade gives it another 20% upside from here sports rights are very valuable in this moment but formula 1 is not that popular here in the u.s. >> it is not but that is making it an interesting story and off the radar screen hi to take a double take when i saw the upgrade but i think the cost story is also important because you mention sports rights but it is on the cost front. they've been spending so much money over the last several years and now it seems to be plateauing and that is where you get the operating leverage and in addition they'll pay down debt still -- the balance sheet still not that great but that is the plan, to reduce the leverage. >> changing ownership a couple of years ago and settling down now after that on the cost side. and touch on cat, $100 price target and do you still hold cat? >> i do. it is trading at nine times earnings and down 9% on the year and in the recent quarter the company guidance on revenue was low end but they didn

australia feels it has already had a few cuts this year and does not have to follow in lockstep with the fed, but others need to be on the safe side. tom: i first met you at j.pen off to j.p. morgan asset management. what are they doing behind those doors now? what you do with this bond market if you are an asset and intimate or commercial -- management or commercial banking? stephanie: at got worse and worse, looking at march tricks -- markets by any metrics. any time we had this conversation about the bond arc market,ould not say -- we would not say this is a market to get your grandmother into and yet she may make money. there is calls for how the extreme levels that the 30 year and others have gone to, and the negative yields all over the world, you see it like could this be the turning point? bet against that in the last few years have lost money. francine: don't bring in italian grandmother's because they know a thing or two about central banks. from centraleeing banks, what we see a plaza accord or some sort of stimulus? on their own they will not be powerful enough. stephanie: all the years after the crisis we were predicting a currency war and it nev