jerome schneider drank the kool-aid out at pennsylvania and nyu stern.r fixed manager. congratulations. do they call you up like the nobel prize and wake you up at 3:00 in the morning? jerome: we get up at 3:00 in the morning anyway. early mornings are no surprise. we didn't get the call about halfway through our day, but we are obviously very excited. tom: 90 basis points, which in your game is a huge amount of money. i want to get into a serious is this with you and david rosenberg about where is the rate?e-rate? -- risk-free do you know where it is right now? guest: there are two components. policy at the bottom ends, currently 25 basis points. most importantly, though, key bills are really the risk the rate at this time as people look for shelter. they yield less than 20 basis points or so at this current point in time here for that purpose, it is still a risk-free rate. tom: are your yields on official because of the close of money now or expected to come in from abroad from negative interest rates? rates will beend structural, and that is important

that was pimco's jerome schneider.x: still ahead, credit suisse posting it biggest quarterly loss in years. ♪ alix: from bloomberg world headquarters in new york, a come back to bloomberg markets. i am alix steel. scarlet: let's start with first word news. mark crumpton has that from the news desk. mark: a brazilian health workers union has called off a strike because it could affect the battle against the fast-spreading zika virus. it includes workers that go door to door in rio de janeiro, trying to eradicate because. the union had threatened to strike. in sierra leone, dozens of people linked to the most recent cases of ebola are still missing according to the world health organization, who says 18 of the contacts are at high risk of having the double -- the disease. the west african outbreak has a thousand than people since late 2014, nearly 4000 sierra leone. the senior u.s. commander in afghanistan is taking issue with president obama's proposal to cut the american troop level two 5500. army general john campbell