canvassing jonathan head reports. on two wheels.onathan head reports. on two wheels. when you canvassing are young jonathan head reports. on two wheels. when you canvassing on two wheels. when you are young and new to politics, this is perhaps the best and certainly the most affordable way to connect with voters. i was following him around the bangkok constituency he hopes to represent. he says he's a lwa ys hopes to represent. he says he's always been a bit of a rebel and he isa always been a bit of a rebel and he is a founder member of a brand—new party, future ford, which is promising changes for thailand. new candidate? so i told him and surprisingly, he would come. what made you decide to become a politician? if it sound so bad, i wa nt politician? if it sound so bad, i want power, but power to change. his party and the radical young millionaire who funds it has generated a lot of excitement, especially among younger ties. he has become a social media star although he knows that is not enough. work on the ground as much as you

jonathan head, bbc news, bangkok. and jonathan will be giving full details on sunday.er's reluctant request for more time before brexit. it is not as long as she wanted and it is still very possible the uk could leave the eu with no withdrawal deal in place. there is more on all the news for you anytime on the bbc news website. and you can get in touch with me and most of the team on twitter. hello, 18 degrees in the sunshine in yorkshire on thursday but for much of the uk, it may have been mild but it was cloudy again, and all that cloud is still with us as friday starts. but there are changes on the way. as this weather front moves southwards, it will bring cooler conditions but more of us will get to see some sunshine over the weekend. but ahead of that weather front, this is all the cloud we have to start on friday. cloudy, damp, drizzly in places, misty and murky but very mild. bearing down from north—west scotland, and as it moves through, we see the wind strengthening. this is where we will see the strongest gusts during the day, in excess of a0 mph, in excess o

outside the high court in kuala lumpur, our southeast asia correspondent, jonathan head.orces have resumed their attack on baghouz, the so called islamic state group's last stronghold in syria. is once had dreams of a global caliphate, but most of the group's die—hard supporters have now surrendered to kurdish forces. as is faces its final battle, civilians have been fleeing. they include yazidi women and children, who were enslaved by the group for years. earlier, the bbc was given an exclusive look inside baghuz. 0ur middle east correspondent quentin sommerville and cameraman jewan abdi have sent this report. this is the end of the road. beyond here, we were given a first look inside all that remains of the islamic state group's caliphate. is are close enough to shoot. under their black flag — it was raised only the day before — the diehards hold firm. improvised bombs are left behind, but the caliphate is reduced to squalid camps. no one knows how many remain inside. the men of the syrian democratic forces wait for the final assault. just a mile away, is true believers

jonathan head, bbc news, bangkok. you have been watching newsday.ine in yorkshire on thursday but for much of the uk, it may have been mild but it was cloudy and that cloud is with us as it begins. there are changes on the way. as this weather front moves southwards, it will bring cooler conditions but more of us will get to see some sunshine over the weekend. ahead of that weather front, this is how friday starts. cloudy, damp, drizzly in places, misty and murky but very mild. there is the rain from the weather front, winds strengthening, across northern england, northern ireland, scotland. the strongest gusts in excess of a0 miles per hour. more than 60 across the isles. here is the rain from that front moving across scotland and northern ireland. later towards north—west england and north wales. behind the front, land appears. look how it clears up behind the front. some sunshine appearing, blustery showers, increasingly wintry but maybe notjust on hills as we go into friday night. ahead of the weather front, clouds and sunny breaks, north—east e

and it wants youth support too, as our correspondent jonathan head reports.d new to politics, this is perhaps the best and certainly the most affordable way to connect with voters. it is a good time for the new party... i was following taopiphop limjittrakorn around the bangkok constituency he hopes to represent. tao says he's always been a bit of a rebel and he is the founder member of a brand—new party, future forward, which is promising big changes for thailand. they think, oh, a new candidate? i'm just 30 years old, i told him, and a law graduate. surprisingly, he would come. what made you decide to become a politician? honestly, it sound so bad, i want power, but power to change. and powerfrom ordinary people. i want to represent ordinary people. people who suffer like me. his party and the radical young millionaire who funds it has generated a lot of excitement, especially among younger thais. he has become a social media star although he knows that is not enough. work on ground as much as you work online. 0nline campaign, you get popularity. 0n ground,

jonathan head they‘ re jonathan head they're speaking to us from hanoi.tnam —— there. the algerian authorities say more than 50 police officers have been injured in the biggest anti—government protests in the country in nearly a decade. more than a hundred thousand people took to the streets of the main cities, in largely peaceful demonstrations calling on their ailing president, not to run for a fifth term in office. kathryn armstrong has more and a warning this report contains some flash photography. they came together to call for change. on the streets of algiers, a sea of people demanding the president withdraw to make way for a new leader. anti—government protests are a rare sight in this country. this is thought to be the largest in nearly a decade. and while it was largely peaceful, at one point violent clashes broke out with riot police, leaving dozens injured. the unrest began more than two weeks ago, when this man, president abdelaziz bouteflika, announced he was seeking a fifth term in the country's april elections. the ailing leader, who turns

several world changes at a meeting on saturday among them some changes to the hand ball rules jonathan head ball is always a cause of a. many changes the emphasis from intent to outcome and goal scoring situations then what do i mean by that will previously referees have to decide whether it was accidental or not i think we're going to show you exactly what this means and it. needs to a goal directly from the hands or on even if accidental in the scoring or creating a goal scoring opportunity of the having gained possession or control of the ball in the hand or on even if accidental accidental that he was or no longer be allowed to play a caress. a little you know a little heavy to digest what does it mean in practice it means they should be more consistency when goals are scored. and we have a good example to illustrate this actually how it would change next season from a match in the season brought back so much and just before christmas. from the visitors but as you can see. the head on so his hand now under the new rules even though that was accidental and was given it would not count in

let's go live to kuala lumpur now and our south east asia correspondent, jonathan head. fairly dramatic developments. what is going on? today was the day we were supposed to be hearing from the vietnamese defendant, doan thi huong, is the second woman to smear a liquid on the face of kim jong—nam two years ago at the airport, but in fact it was siti aisyah, the indonesian defendant, who unexpectedly had her charges dropped. the lawyer believes that it was because the evidence against her was not as strong as it was against doan thi huong. critically, there was no security footage of her smearing anything on kim jong—nam's face, or any footage of her going to that toilet to wash off the liquid. that is what is evidence enough to suggest that the vietnamese defendant knew that the substance she was using was dangerous. both have said that they believed they were part of a televised pranks, they had no idea that the men they were working for we re that the men they were working for were north korean agents. siti aisyah's lawyers believe that because the evidence was weaker

i'm joined now by our correspondents jonathan head, who's outside the main opposition party headquartersquarters — who are aligned to the military. jonathan, what is the predicted outcome to this? a coalition of some kind but with who calling the shots? it was always going to the military calling the shots, the real question was whether parties like the main opposition party, whose headquarters iam in opposition party, whose headquarters i am in front of now, which always gets the largest share of seats, whether they would do well enough to find some ground for challenging the military. the military has an appointed senate that backs them and everything hung on how well these quys everything hung on how well these guys did and how well the military because my own party did. the military party has done surprisingly well, well enough given they now have the largest share of popular vote, to say they have a popular mandate. but this is a party backed by the former prime minister vaccine shinawatra —— prime minister shinawatra. from what we can see, we are near the end of the accounting and

headlines, and of course it is what we are all talking about here, because when it ended so abruptly, jonathan head with me, right outside the hotel where the summit was taking place. it is a day after, jonathan. what is being said and how are people making sense of this?” think initially, to see a summit which was so meticulously repaired in sucha which was so meticulously repaired in such a unique event cut abruptly shot like that was a real sense of failure. we have heard from the north koreans now. i have to say it looks like they didn't expect this result. it looks like they were caught out by the american side's willingness to walk away. we knew that there was a gap, we knew that with all that talk that had gone on before, trying to find areas where they could make concessions, they weren't completely together. but clearly the us side thought that bringing donald trump together with kimjong—un, bringing donald trump together with kim jong—un, that the north bringing donald trump together with kimjong—un, that the north koreans might be able to offer something more, and that didn't happen. now

from bangkok, jonathan head reports.n promised, and then repeatedly postponed. thais by and large participated keenly, despite an electoral system that tilts the odds heavily in the military government's favour. the man who deposed the last elected government in a coup and has run thailand ever since cast his vote early. general prayuth is bidding to keep hisjob as prime minister, but many younger voters, 7 million of them eligible to vote for the first time, looking for something different. i am happy there is a voting at last, we have been waiting for this election for some time and i hope it brings good things for the country. we need some younger or newer generations in the government to bring a more modern policy, less corruption, a cleaner government. that hunger for fresh faces has driven a groundswell of support for a brand—new and radical party, future forward, under the leadership of a telegenic young businessman. as the polls closed and voting began, many thais gathered around the polling stations, eager to en

let's go live to kuala lumpur now and our south asia correspondent, jonathan head.things just getting jonathan, thingsjust getting under way there? yes, the defendants have arrived in the last hour. this is the first time we will hear from them direct leave. the prosecution finished its own case almost a year ago. it has taken a very long time to reach this stage, there have been several delays, and we are expecting only to hear from several delays, and we are expecting only to hearfrom doan several delays, and we are expecting only to hear from doan thi several delays, and we are expecting only to hearfrom doan thi huong, the 30—year—old vietnamese defendant, who was the second person who smeared a liquid onto the face of kimjong—nam at who smeared a liquid onto the face of kim jong—nam at kuala who smeared a liquid onto the face of kimjong—nam at kuala lumpur‘s international airport. it is believed that each of them had part of the ingredients of the nerve agent that killed him. she was then seen racing to the toilet afterwards to wash her hands. she would have be

a pro—military party — are both trying to form a government. 0ur south—east asia correspondent jonathan headaggling before the final election result is announced in may. what you've got at the moment is bargaining between parties. now, there have been problems, more problems than usual with the results this time. they should, at least the preliminary results, should have been clear on election night. there have obviously been technical problems with the election commission. there are allegations of irregularities, that is not unusual, but we just do not know how serious these are. there has certainly been a very big loss of trust in the rather chaotic way the election commission has explained itself. but we do now have some pretty clear results. they are now finally confirming the number of seats that have been won, and they are now calculating the proportional seats that parties will get on top of that. what we're seeing is a pretty clear trend and i do not think that will change whatever the investigations into irregularities are, and that is that the pro—thaksin party, the anti—military p

advantages — but its challengers are still putting up a fight. 0ur south east asia correspondent jonathan headghout the next few days— and here he is explaining what's at stake. next sunday, thailand will be going to the polls for the first time since the military seized power five years ago. the coup leaders plan to stay in office and to do that, they drafted the constitution and introduced the voting system which specifically disadvantages their main rival, this party, pheu thai, backed by thaksin shinawatra. it depends how the support base for pheu thai holds up, especially here in the poor north—east of thailand, people love the party. they think it has brought them unparalleled and asserts. they are facing possible defections as the military bring people to their side and they are not facing people like thaksin shinawatra and his sister yingluck, who are charismatic. as well as in exile. the military has imposed a 20—year plan on all future governments. here in bangkok, it isn't pheu thai but a new party which is causing a real stir, especially among younger voters and 7 million of them a

jonathan head is our south asia correspondent. he's in kuala lumper.s the postponed first test to me by the vietnamese defendant doan thi huong. this is the first we would hear from any of these defendants in this extraordinary case but that of course was thrown into disarray when thejudge ordered the course was thrown into disarray when the judge ordered the release of her indonesian co—defendant. in that time, the three days per postman that postponement of this hearing, her lawyers have petitioned for her to be released in the vietnamese government which has been relatively quiet up till now has specifically asked the malaysian government to do the same for her. it is possible in theory that could happen but the evidence against doan thi huong is stronger. she was the one caught on airport security camera video putting her hands over the face of kimjong—nam and putting her hands over the face of kim jong—nam and then fleeing to the bathroom, apparently to wash off the substance she had put on it. she has also argued, as her co—defendant did, that sh

jonathan head reported from bangkok.er a shop worker was stabbed to death during a robbery at a newsagent‘s in north—west london. the man is believed to have been attacked as he opened marsh food and wine in pinner on sunday morning. scotland yard said the shop's till was stolen and may have been discarded by the suspect, while detectives are appealing for witnesses who saw a black vauxhall astra driven away at speed immediately after the stabbing. 0ur correspondent katy austin is in pinner. kt. kt, if this is a robbery gone wrong, it isa kt, if this is a robbery gone wrong, it is a fairly shocking attack. what do we know about the shop and the man who died? a very sad tale is emerging here in pinner, behind this expensive police cordon, that is where the newsagent is, where this attack occurred this morning, police believe the man who has died work there and was opening the shop when he was attacked as part of a robbery, one they said was violent and escalated. police were called around 6am to the scene and emergency se

let's go live to kuala lumpur now and our south east asia correspondent, jonathan head.re supposed to be hearing from the vietnamese defendant, doan thi huong, the second woman to smear a liquid on the face of kim jong—nam, but it was the face of kim jong—nam, but it was the other defendant, from indonesia, siti aisyah, who had her charges dropped. the lawyers say the evidence against her was not as strong, as there was no security footage catching her smearing anything on the north korean‘s face, and also there is footage of doan thi huong going to the bathroom to wash the liquid off. this, they say, is enough evidence to suggest that she knew the liquid was harmful. both women have said they believed they were taking part in a televised pranks. they had no idea the men they were working for war north korean agents. siti aisyah‘s lawyer believes that echoes the evidence against her was weaker, that is why they have dropped the charges. so this leaves just one defendant is 110w this leaves just one defendant is now in this extraordinary case. let's brief you on some of t

our south east asia correspondent, jonathan head, told me more. things to support her defence position, which is that although she and this indonesian defendant, siti aisyah, were both responsible for smearing the agent on kimjong—nam, she responsible for smearing the agent on kim jong—nam, she was the second to do it, so they believe that the indonesian defendant initially put a precursor on. it is too dangerous to handle on its own, this nerve agent, and it was doan thi huong who put on the activating agent. we are expecting her to read a statement in vietnamese, it will be translated, and we expect her to explain that she was recruited by what we now know to be north korean agents. we know to be north korean agents. we know that they are now agents for a tv show, and she was carrying out televised pranks. she will claim that at no point did she understand that at no point did she understand that she was carrying out a public execution. there were more than 30 witnesses, and the judge found that there was reasonable cause to believe that the two

our south—east asia correspondent jonathan head is in hanoi.north korean certainly seemed to be keen to get their side of things across as well. i do not think there is as much gap between the two sides as appears, i think both sides are trying to put a reasonably positive gloss on it, having gone very badly, having given up on the process, i think you would have expected much tougher rhetoric from the north korean foreign minister. the five sanctions that they ask the us to lift are pretty much all of the economic sanctions that have been imposed since 2016 and there are united nations security council resolutions, very hard to pass again if they are removed because of likely russian objections. he regretted that the us could not get there. us officials have explain the difference between them was there before the summit, that the north koreans had raised this request for significant sanctions lifting and that the us had explained to them that the us had explained to them that they needed more, they needed more detail about what the north kore

our south—east asia correspondent jonathan head is in hanoi.hought the summit failed to reach the desired conclusion on denuclearisation or a lifting of sanctions. the problem is that there's always an element of unpredictability. we knew there was a gap between the two sides, in terms of the areas they could have agreed, and clearly the american side hoped that when they arrived at this summit that perhaps the personal chemistry between mr trump and mr kim, or perhaps the fact that mr kim might even have something extra to give in his back pocket might close that gap. it didn't. now, we have these slightly conflicting accounts. it's worth noting mr trump is wrong. apparently the north koreans weren't asking for all sanctions, but even the sanctions they wanted were very significant, far more than the americans could have supported in returnjust for freezing yongbyon and stopping missile testing. so, one way or another, it was a hastily organised summit. it was a gamble. the gamble didn't pay off, and i think, more importantly for mr trump, per

our south—east asia correspondent jonathan head is in hanoi. described as oversold and underprepa red, i have seen this summer described as oversold and underprepared, do you think that is fair? probably. i mean, the problem is that there is a lwa ys mean, the problem is that there is always an element of unpredictability. we knew there was a gap between the two sides in terms of the areas they could have agreed and clearly the american site hoped that when they arrived at the summit that when they arrived at the summit that perhaps the personal chemistry between mr trump and mr kim, perhaps the fact mr kim might even have something extra to get in his back pocket might close that gap. it didn't. now we have these slightly conflicting accounts. it is worth noting mr trump is wrong. apparently the north koreans were not asking for all of the sanctions. even the sanctions they wanted are very significant, far more than the americans could have supported in return. in yongbyon and missile testing. one way or another it was hastily organised. it wa

jonathan head is our south asia correspondent. he's in kuala lumpur.re is only one defendant left. the other one has been released already. yes, there was a shock decision on monday when the prosecution decided to drop charges against siti aisyah, the indonesian co—defendant in this case. only two defendants, remember. all the north koreans who were involved at the time managed to flee the country, so these are the only two people the malaysians got to carry the can for the can for this extraordinary crime. now, she was released because a shock decision on monday when the prosecution decided to drop charges against siti aisyah, the indonesian co—defendant in this case. only two defendants, remember. all the north koreans who were involved at the time managed to flee the country, so these are the only two people the malaysians got to carry the can for this extraordinary crime. now, she was released because the lawyers said the case against recruited by these north koreans. the lawyers for these north koreans. the lawyers for the vietnamese defendant doa

our south—east asia correspondent jonathan head has been to roi et, a tha ksin stronghold, to see howg there. in the parched, brown country of thailand's northeast, one party has held the loyalty of voters for the past 18 years. this is one of its leaders. on his home turf, among people who like him, opposed the coup and believe his party has lifted their lives. he jokes with them about his time injail. he has faced multiple charges for his political activities, barring him from office. that is why it is his daughter who is contesting this seat. politics in thailand is always afamily seat. politics in thailand is always a family business. so it came as a shock to him when his youngest sister defected to the pro— military party. translation: the whole family is opposed to this. we fought against this side for so long. suddenly she switched to that side. she is now part of a slick, well funded campaign to keep the current government in power. the coup leader's party is just a year old, and here in the north—east it confronts and here in the north—east it co nfro nts a and here in the no

our south east asia correspondent, jonathan head, is in the thai capital, bangkok.e for the first time. what difference might that make to the outcome? well, i think they will be very encouraged to see how enthusiastic young people are. it has been interesting listening to the pronounced determination of many people just to exercise their vote, having not had it after five years of military rule. many want change. the system is weighted so heavily in favour of the coup leader who only needs to win a quarter of the seats in the lower house because they can use the appointed senate to get him into the seat of the prime minister. everyone wanting change knows they are against the odds but it has not stop people coming out. there has been a lot of enthusiasm. people had queuedin been a lot of enthusiasm. people had queued in the searing heat to do it. many in bangkok are going for a brand—new radical party which has lots of very bold, policy announcements, including getting the match out of politics. the system again is very much weighted against them. it is not clear t

jonathan ferro. this is "bloomberg real yield." it is time now to headthe auction block where we didn't -- "in russia. a banner month for bonds sales. $2.5 billion worth of debt, and in february, three times more than the recent average. back in the united states, the seven-year treasury auction are the biggest amount since august. their largest share since 2014. wrapping up the month, junk-bond supply picking up with $21 billion priced in, the busiest month since march of last year. still with us to discuss is mary bowers, greg peters, jub hurner. -- jub hurren. mary, high yield debt issuance up. leveraged loan issuance was down dramatic way. is that a thing for the rest of the year or just for q1? mary: you have to follow the fund flows. they have been strong for high-yield this year while leveraged loans have continued to have outflows. that has come down in the last couple of weeks, but the demand that was there for leverage loans that was sucking the supply for high-yield and that is now bringing the supply back to high-yield. we expect to see a lar

insisted they had only been seeking partial sanction relief. 0ur south—east asia correspondent jonathan head. jonathan, i mean, this time yesterday it was all unravelling, wasn't it? the early press conference, the cancellation of the lunch, and then there was this positive tone, but it was inevitable that the drip— drip was going to come out now. a very nice lunch, as well, by all accounts. we are not quite sure who ate it, they abandoned it literally just before they were supposed to go into it. i don't think the two sides are quite as farapart as don't think the two sides are quite as far apart as they sound and the tone from the us side and north korean side is regretful but not illiterate or defensive. american officials have clarified that, yes, the north koreans did ask for partial sanctions, but these are pretty much all the crucial economic sanctions. it would have been a very big concession, and you need backing from china and russia so if the americans advocated lifting them and supported that, they would be very ha rd to supported that, they would be very hard to reimpose if thin

head? jonathan: through the week china , has been rough, european data not great.ottom of the chart, you see the roll over in the surprise index in the global economic data, and then this happens. 10 year government bonds in germany are week. u.s. treasury yields starts to take up. what is happening, and what does that tell you about the market and investor prices at the moment? the yields are starting to kick higher. >> i think markets try to be as forward-looking as possible and responding to not only the stimulus from china, but the fact that the fed seems to be on hold for the foreseeable future. the early signs from the stimulus from china may be starting to come through. we are seeing the credit data, one of the key things fixed income investors were watching and that ticked higher in january. there are things we need to be conscious of and one data point does not make a trend. but these are early signs investors are looking for to get comfortable. the other key thing to remember is where we have come for in q4, where markets were in panic mode. sentiment at

jonathan: we are going to do europe in the next segment. go on. colin: the treasury is heading2.30%. jonathan: by year-end? colin: before. and hopefully before it gets there, the fed will identify they need to reduce rates , because i don't want to see yield curve inversions all across the curve because we know that portends bad news. jonathan: really interesting news. they are all sticking with us. coming up on the program, the auction block, outside demand for italian bonds, rallying with yields threatening to break through the march lows. that conversation is coming up. this is bloomberg real yield. ♪ ♪ jonathan: i am jonathan ferro. this is bloomberg real yield. i want to go to the auction block where we begin right here in the united states with treasury auctions. the man continuing for the security of government that. the treasury department selling $24 billion of 10 year note at 2.615%. that is the lowest since january 2018 auction. elsewhere, corporate investors clamoring to get their hands on a debt deal. as we put together this program, the package for about $7 billio

jonathan: joining me is the head of head fixed income strategy at blackrock. let us begin with you, how do you read that report? marilyn: i agree that it was not that bad. when you look at the three months numbers, it was averaging north of 200,000. for an economy that has a very tight labor market, you are seeing an increase in hourly wages, which is great. i actually feel it is a positive thing and something to be positive about. henry: i believe the wage pressure comment. the takeaway is that we are bipolar and you are seeing the data and bad data. that number was fantastic, but we are seeing most of the leaders and leading indicators roll over. this period where the lack of clarity is striking in the markets are in a challenging spot, and you have to look through it. it is a hard job. kevin: in golf, they say every shot make someone happy. today, if you are the bond bull, you have 20,000 jobs. if you are a dove, you got to point point average earnings. there is another 11 cent increase in the next month, but i would be longer than shorter. jonathan: it has

itoje is part of an initial 31—man squad which also incluces chris robshaw and jonathan joseph. headore naming the matchday 23 on thursday. fly—half finn russell is among a number of scottish players who returned to trainning this morning ahead of their game against leaders wales on saturday. russell missed their defeat by france last round with concussion. frank bruno's agent has revealed that the former world heavyweight boxing champion has been suffering from pneumonia. dave davies used bruno's twitter account to thank the hospital staff who'd cared for him. he said he now needs a few weeks' rest. bruno famously beat 0liver mccall to win the wbc heavyweight title at wembley in 1995. tiger woods has withdrawn from this week's arnold palmer invitational at bay hill after suffering from a neck strain. the 14—time major champion says his previously troublesome lower back is unaffected and he has no long—term concerns. he hopes to play in next week's players' championship at sawgrass. that's all the sport for now. i'll have more for you in sportsday at 10:30pm. we will be back with mor

jonathan: this is bloomberg real yield. heado the auction block where we begin in the united states. further evidence of the bond rally isn't dead yet. the treasury department selling seven year notes. demand surge of the german bond auction as the nation cells 10 year benchmarked at at negative yield. the 2.3 billion euro auction, pricing at an average yield of -0.05%. finally incorporates, can we make a mark? $5 billion deal this week. the largest corporate bond deal since pfizer and merck christ about three weeks ago. to the credit market after the biggest rally for triple be -- triple b rated u.s. corporate since 1995. there might still be more to come. >> bbb leverage is coming down now. ge and kraft heinz sent warning shots across the bow of all bbb companies and you are seeing that coming back. the era of leveraging up the balance sheet, buying back shares, raising dividends, making acquisitions, all of that mania has died down a bit. jonathan: greg peters, marilyn waters, and george, still very much with us. let's talk a

jonathan: we will talk more about that a little later. marilyn watson, head of global fixed income strategy at blackrock, henry peabody, portfolio manager from eaton vance, and kevin giddis, head of fixed income at raymond james. all will be sticking with us. coming up in the auction block, the rally in emerging markets. they are continuing, fueling concerns that the market could be overheating. that conversation is coming up next. from new york, this is bloomberg real yield. ♪ jonathan: i am jonathan ferro. this is "bloomberg, real yield." with the auction block, we go to europe and start with greece, returning to the market again. the country agreeing to sell $2.8 billion of 10 year bonds. pricing to yield 3.9%, less on the initial target of about 4.13%. this is boosting demand in emerging markets. qatar returning to the market, raising $12 billion with its three-part offering and the gulf state attracting $50 million in demand as it took advantage of a u.s. interest rate. finally, in corporate, dow technologies tapping the investment grade market and selli

jonathan: something i am trying to get my head around, you can pick any data point, let's say treasury, that is the only market right now. if you take the fx market, classic currency paring that you would expect to move on the back of something happening with the global economy. it has not seen anything happen over the last three months. why is it only showing up on one point, very specific point, of this global market? >> it seems the bond market is listening to what the fed is saying. the fed came out with a glowing report from a conversation effective. the data that they put out there, lower inflation, higher unemployment, lowering dot plots. all of that was negative on the marketplace. that is what the bond market is saying. the data behind it rather than the conversation. >> i think there is so many factors in the global growth that is still to be seen. we do think that many things such as global growth may be trough in. we might see an uptick from there. i think the market is focusing on the fed. jonathan: sticking with us. next up on the program, the lowest rate of investment bo

jonathan: we will do europe in the next segment. >> i think the 10 year treasuries headed to 230.efore year-end. hopefully before gets there, the fed identifies they need to reduce rates, as i don't want to see yield curve inversions across the curve. we know that portends bad news. jonathan: really interesting calls coming from you guys. colin robertson, jeffrey rosenberg, and craig bishop. coming up, the auction block. italian bonds and btp's continuing to rally with yields threatening to break through. that conversation is next. this is "bloomberg real yield." ♪ ♪ i'm jonathan ferro, this is "bloomberg real yield." i want to head to the auction block right here in u.s. with the treasury auction, the treasury department selling $24 billion of 10 year notes for yield is 2.615%, the lowest since the january 2018 auction. deal forg on a debt johnson controls. the package for about $7 billion of dollar denominated high-yield bonds and loans had already ofounced almost $30 billion orders. finally, we had to the eurozone, where the enthusiasm for italian buy, investors offering to 1.3

headed. lauren: jonathan, don't go anywhere. it's lauren simonetti. i want to say good morning.no shortage of news today. there's new developments in the trade talks, the final estimate of fourth quarter gdp, that comes out in about three hours from now. and then some fed officials reportedly saying look, it's too soon to look at actually cutting interest rates. wells fargo senior economist mark vitner joins us now. what do you make of what robert kaplan told to the wall street journal, let's not talk about cutting rates yet, it's too soon, the yield curve hasn't been inverted for a very long time. >> they want to hold onto the rhetoric for as long as they can. the move to an easing bias is a form of easing itself. they want to hold onto that in case they need it if we get untoward developments on the trade front, if brexit gets really ugly or if we get weaker economic news, then they can make the shift. they pivoted to a neutral stance and that gave the markets a bit of a push and was a form of easing in its own right. ashley: you know what, you mentioned the fed. let me bring

jonathan: joining me around the table here in new york, head of global fixed income strategy at blackrockand head of fixed income at raymond james. let us begin with you, maryland. marilyn. how do you read that payroll report? marilyn: i agree that it was not that bad. when you look at the three months numbers, it was averaging about 186,000. over 12 months, north of 200,000. for an economy that has a very tight labor market, you are seeing an increase in hourly wages, which is great. it is good to see that come through. i actually feel it is a positive thing. it is something to be happy about. henry: i believe the wage pressure comment. whether you're talking politics or the economy, the takeaway is that we are bipolar. you are seeing the good data and bad data. that number was fantastic, but we are seeing most of the oecd leaders and leading indicators start to rollover. there is this period where the lack of clarity is striking. the market is in a challenging spot, and you have to look through that. that is a challenging job these days. kevin: in golf, they say every shot makes someone

forecasters are warning another round of severe weather could be headed that way. jonathan serrie is live for news lee county. jonathan? >> harris, right now forecasters believe the worst of the storms are going to pass north of here. take a look at this debris in the trees and on the ground. that is the big concern. even with moderate winds from those storms, it could cause problems for recovery crews here in lee county. late this morning, air force one landed in fot. benning over the georgia line. the president landed to meet with storm officials, first survivors, first responders and volunteers. volunteers are gathered at a church that has been used for a staging area anticipating the president's arrival. the president wants to thank first responders for the hard work they've been doing and the hours and days following sunday's powerful ef-4 tornado. late this morning, family and friends held a funeral service for taylor thornton. she was visiting her best friends's house on sunday when the tornado struck. the storm seriously injured her 10-year-old friend and killed her

. ♪ ♪ jonathan: i'm jonathan ferro, this is bloomberg real yield. it's time to heade auction block where we begin in russia. the finance ministry selling $2.5 billion worth of debt in february, three times more than the recent average. back here in the united states, more than a quarter of the $32 billion sale at their largest share from 2014. in wrapping up the month in corporate, u.s. junk-bond supply picking up with $21 billion price in the month, the busiest month since march of last year. let's begin with mary. high-yield debt issuance is up. is that a thing for the rest of the year or just a thing for q1? >> fund flows have not been very strong for high-yield so far this year, while leveraged loans have been continuing to have outflows. the demand for leveraged loans which was really sucking the supply out of high-yield is now bringing the supply back. we do expect to see a larger amount of some of that secured issuance coming back to the high-yield markets. >> on the margin, but it is o's coming back. thing is thatus it seems like a desire for assets is not wh