we want to bring in kevin cirilli, our chief washington correspondent from our washington bureau. tell us a little bit more about the washington men who pleaded guilty? kevin: this was announced in juxtaposition with the indictment that came out against the 13 individuals from russia as well as the three businesses. we do not know, for example, which this individual, who has announced a plea deal with the u.s. authorities, is in fact someone who worked to rapidly -- workeda, as it directly with russia as a russian actor, or who considered himself an american. we will bring you those details this get them, but

shery: margaret, thank you so much for breaking this down, and kevin cirilli on capitol hill.we are seeing some movement in the market, but still resilient to pay local headlines -- political headlines. let's get a check with abigail doolittle. abigail: the gains are remarkable, for the nasdaq, on paper its best week its 2011. up more thanrages half a percent, and pretty remarkable after we had two weeks a big selling pressure. we are a bit off of the highs, not a huge way, but the dow has been up more than 910's of 1%, so almost having gains, and the 10 year yield on the bottom rallying for basis points. not at the lows, but a little and thishaven, reflects some of the uncertainty on the indictments of 13 russians by robert mueller and three companies. we see that there was some trading action early on, thedering with gains at highs, the s&p 500 has been up, but then use of this indictment, we see it a leg lower. some uncertainty here, but the bulls are in charge of the day and on the week. it will be interesting to see if this holds, but right now it certainly does, and rela

joining us now is our chief washington correspondent kevin cirilli who joins us from cpac. inal information has been filed in federal court in washington which often precedes a guilty plea. could we see it anytime soon? kevin: i think you will hear the -- i hear you will have a guilty plea today. when you look at the indictment charges that came down yesterday , all from tax evasion dating back as far as 2014. thatlican sources tell me that was well before the time any of them got involved with the donald trump campaign. this does not touch the president's in a circle from their perspective and no question the robert mueller probe is continuing. vonnie: it is fascinating because there were reports from outlets earlier that rick gates may be thinking about entering a guilty plea. this would proceed that. informationg of the on criminal activity and rising the pressure to enter the play? kevin: right. the charges themselves, largely related to representation dating back to 2008-2014 and tax evasion. those are separate charges from the ones originally they were investigating. a

thank you, kevin cirilli.esterday, bloomberg television covered a story about the saudi aramco ipo. video provided by the company included an incorrect map of the gulf. we do apologize for that mistake. this is bloomberg. ♪ mark: live from london, i am mark barton. the european close, over 10 minutes away. vonnie: dick's sporting goods of 1% now in the market. it says it will in you -- the sale ofand assault that weapons which had been available in some stores. it will require gun buyers to be at least 21 years old, so making big changes to its policy. joining us on the phone -- straight, exactly what the changes to this policy are. we have a full screen, but maybe you can explain to us what exactly dick's is making changes to. >> thank you for having me. first point is that they will no longer be selling assault style rifles. that is something that they have removed out of their dick's stores back in 2012, but the theirued to sell them in 35 field & stream stores. as he referenced, they will no longer sell fi

kevin cirilli joins us from the national harbor. we have vice president pence this morning. igh point? what did he say? kevin: no question, vice president mike pence received well here. lapierre taking his critics head-on and doubling down on arming schoolteachers in schools nationwide to better protect against gun violence. last night, senator marco rubio distancing himself from several key points of the nra. now says he's in favor of raising the age requirement from 18 to 21 to obtain a weapon. president trump suggesting he had concerns about the video , sayingndustry teachers who carry a weapon should receive bonuses. feel this year is a bit more sober. he argued that next week, lawmakers are expected to pick up some type of bipartisan reform. what they are remains to be seen. david: they will give bonuses to the teacher and train them. is there some distance growing between the president and wayne lapierre? the president is saying 21 personal weapons. or assault weapons. kevin: specifically on the issue of bump stocks as well. there is some distance. private citizen donal

we welcome kevin cirilli, our chief washington correspondent. big on supporting organized labor. kevin: they are supporters of the workers. some of the top leaders in the country are gathered at the white house right now, including cio,leader of the afl- teamsters, workers of america, orkers --elw steel workers of america. infrastructure is one of the key issues expected to come up, also environmental protections. we don't have a readout as of now, but president trump is as a signs meeting that top labor bosses are not in agreement with this administration, but they are representing their members. what is the chance that president trump could be looking for support on some of his trade actions? i put that question to this very same source, who told me that on the issue of nafta, which appears to be ending its , as well as the united states not withdrawing from it, another potential topic to come up. the issue becomes what changes would be made to it. you can see a situation where the president is supportto get a type of of these groups. what's t

we are joined now by kevin cirilli, live at the white house. e latest iteration of a potential path to citizenship for dreamers. is there any hope from the president, in this susan collins group proposal? kevin: it may just be what susan collins needs to reach an immigration bill that is -- deal that is supported by the business community. is it enough for the administration, though? the administration is dealing with other controversies, including the chief of staff and the handling of abuse allegations. they haven't been as engaged on the issue of immigration. a key part of the presidents campaigning. julie: -- vonnie: some of the details, we know. and talk about chain migration, which appears to be in there. first and: -- kevin: foremost, the president said that the issue of chain migration was a complete nonstarter and needed to be separated out. theyd, we know that juxtaposed the budget deal from last week in terms of increasing funding along the border for the so-called wall, as well as extending the obama era principles on dock up for the

we are joined by kevin cirilli.ere any possibility that democrats and the house freedom caucus might kill this bill? know. we just don't ultimately, a version of this bill will pass, avoiding a government shutdown, and this be a second government shutdown this year alone. i spoke to sources close to the freedom caucus and becoming this is fiscal irresponsibility. the question becomes if there's enough members to significantly derail this. i can tell you that senator john orman has said publicly that the senate is expected to take up a vote upon its bipartisan deal sometime this afternoon. would kick it back to the house of representatives where they have to do this. deficit hawks in full force saying this bill busts through the budget cap, they don't like it, they think it is too much government spending. vonnie: it was a bait and switch . what happens to that back to daca, where does it leave daca recipients? kevin: we are monitoring paul ryan's press conference which is currently ongoing. the second point i would

shery: kevin cirilli, thank you so much. the balance of power newsletter at bloomberg politics.com. get the latest on bloomberg politics in your inbox every day. sachs coming up, goldman tech conference in san francisco. a quick reminder that you can catch all of our interviews on the bloomberg with the flexion tv and five breaking news and charts and related functionality discussed on the program. this is bloomberg. ♪ >> it is 2:00 p.m. in new york. i'm scarlet fu. julia: i'm julia chatterley. welcome to bloomberg markets. ♪ scarlet: we are live in bloomberg world headquarters in new york. here are the top stories we are covering. price check. u.s. stocks chasing off inflation worries. what the latest data says about the strength of the u.s. economy. jeff bezos goes to washington. how amazon has the stop its lyrical influence machine. the rise of volatility rates. -- could not be more pleased with performance. let's get to u.s. markets. market opened, it was a cpi report that set the tone. it has been the opposite of t

joined by kevin cirilli, chief washington correspondent, live from capitol hill. president has been tweeting about the stock market. how are lawmakers responding to the market volatility? kevin: president trump tweeting within the last couple of minutes that he thinks a good news for the economy is translating to bad news for stock traders. of course, this all comes at a time in which treasury secretary steven mnuchin taking heat yesterday on capitol hill, testifying before the house financial services committee about the volatility in the market. listen to what he told lawmakers. secretary mnuchin: i think you have seen a normal market correction, although large, and i think again there is a disconnect in the short term. markets move in both directions. kevin: that disconnect in the marketplace has started some chatter about the potential for new regulatory reform. i asked the house financial services committee chairman jeb hensarling about whether or not he thinks more regulation is the answer. here is what he told me. ensarling: it is not for congress to legisla

for the latest, let's bring in kevin cirilli, bloomberg's chief washington correspondent. ave you with us. and about the significance what this means more broadly for the russian investigation. kevin: friday, you had the 30-place -- 30-page indictment. over the weekend you have the back and forth between secretary mattis and president trump, and then tuesday, after the holiday weekend, in the morning, another indictment drops. you have charges against him as rickas the news that gates, paul manafort's deputy -- paul manafort in the previous trump campaign chairman -- pleading guilty. rick gates, paul manafort'sall of thb mueller's team of investigators are focusing heavily on paul dealingsand business with businesses surrounding the previous trump campaign chairman's business apparatus and support of the pro-russia faction in you dealings with businesses caring. -- in ukraine. they are also continuing to double down over this widespread digital move on behalf of the russians to influence -- as far back as 2014 -- the democratic process here in the united states. work 24, ke

we turn to kevin cirilli to bring us up to speed. where are they on the voting?the senate are anticipating some type of vote sometime this afternoon. there isn't a as if it time in order to get to that standpoint or we should note that here in the house of representatives, the story has been focused, because of the vocal critics of this, the has freedom caucus, they are not going to be able to stop this. to pass in thely house of representatives before the deadline runs out at midnight. we should also note that over in the senate, we have had potential 2020 democratic candidates voting, saying they will vote against this. they are not enough to derail it. a lot of posturing going on. this, if you are outside of washington, i would argue the biggest take away is this provides some type of economic certainty, gets rid of the risk is avernment shutdown, it two-year extension. it also deals with the debt limit and raising the debt limit -- avoiding another monumental fight that could be right around the corner. what it doesn't touches daca and immigration. shery: exa

kevin cirilli, thanks to you. mark.k: delete it go is the function, and highs of the day, it comes to the back of the if wet weekly drop -- rise this week, it will be towards the weekly run. the two-day gain is the best since january 5. this is one of the big corporate stories of the day, the european playmaker in the 2017 with a record order a record order of backlog and delivered more just than ever before even so the billion dollar charge for the military and they werel, dependent on overcoming engine singleaffecting their engine jets. this is an interesting chart, u.k. government bonds no exception to this generation sweeping global financial markets. swings are being spread by domestic policy outlook. the highest level in a month, and that was after the bank of england said it could raise rates sooner than expected. the market pricing is more than an 80% chance as early as may. the data that supports or lessens the probability of a move will create big market swings. let's finish with one of the big moving stocks o

vonnie: our thanks to kevin cirilli.anking onl ahead, the back -- we will get a look at hsbc and other u.k. lenders. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. nejra: from london, i'm nejra cehic. this is "bloomberg markets." a big week for u.k. banks. investors awaiting earnings from the region's top lenders. today, we heard from hsbc. swansong stuart gulliver hoped for. they missed estimates for fourth-quarter revenue and profit. share buybacks are on hold. and edwards spoke to the hsbc finance director about the results. >> the fourth quarter, from our perspective, was a bit weaker with respect to market revenues in the ficc space. we also took a couple of provisions for significant corporate exposures in the fourth quarter. more isoining us with elisa martinuzzi. great to see you. this miss for hsbc, there were two parts to it. >> a weaker trading line on the investment banking side and the revenue line not being as strong as investors were hoping for. thattors were hoping that momentum would

shery: kevin cirilli, thank you. sign up to the balance of power bloomberg.com. up tomorrow will talk with congresswoman cathy mcmorris rodgers, the fourth highest ranking republican in the house. that is tomorrow, and that is live. this is bloomberg. ♪ scarlet: i am scarlet fu. and i and i am julia chatterley, welcome to "bloomberg markets". ♪ scarlet: we are live in new york over the next hour and here are the top stories we are covering on the bloomberg and around the world. farewell february and hello march. places, treasury secretary steven mnuchin says partnership may still be back on the table and dick's sporting goods ending the sales of assault rifles following the mass shooting in a florida high school and destroyed his position taken by a large retailer in the national gun debate. we have markets closing in two hours time and will give you stocks still trading on a momentous february. we have the nasdaq

we bring kevin cirilli with more. take us into next week, what do we have to look forward to? a time when deficit hawks coming to republican party, and even some in the democratic party are criticizing the administration for their deal to keep the government open and raise the debt limit, they are also on the cusp of launching an infrastructure plan that they say could cost up to $1.3 trillion. how they land to pay for it is controversial. it is called asset recycling, first debuted in australia. this would allow private entities in the public sector to buy the debt, as well as public lands, even some public airports. that has drawn skepticism from outsidees, concern from consumer groups. either way, big week in infrastructure, the white house working with the national manufacturers which is also drumming up support next week. we should be getting those new details sometime early next week. julie: what is the indication that there is democratic support for infrastructure plan? of course, there was the obama infrastructure plan that did not have republican support at the time. w

let's bring in kevin cirilli, who is down at the greenbrier, reporting from just outside. we just heard the state of the union redux, kevin, but let's on one thing focus -- immigration. he gave a lot of time, and the most detail really on the question of immigration -- is four pillars, as they are called. he is digging in his heels. am i reading that wrong? no.n: president trump's largest message from this address to the republicans at the republican retreat is very clearly hold your ground on immigration. particularly on the issue of the dreamers, he doubled down on that line from his state of the this week,ss early where he said "americans are o," and then he also went on to say "don't fall for ," addressing republicans in terms of the language being framed as they gear up for this march 5 deadline. shery: president trump also talked about reaching across the aisle, but at the same time took some shots of the democrats. what about bipartisanship? kevin: what about bipartisanship? president trump in the speech as well taking on house minority leader nancy pelosi, saying wh

let's bring in kevin cirilli . braided thet media for not realizing he had lunch with wayne left year and had come to this wonderful conclusion that there was going to be better background checks and direct access for guns and ammunition to be taken away from people deemed a threat perhaps. what do we know about this? is is actually going to happen or something they spoke about over lunch, kevin? kevin: a couple takes away from that. president trump calling on congress to pass some type of gun reform legislation, background check, mental health legislation in response to the recent mass shooting tragedy in fo florida. that will become a focal point for this republican-controlled congress as they had that. president trump pointing up mitch mcconnell as well as senator john cornyn, the latter of whom has backed off the president's claim to raise the age limit to purchase a firearm from 18 to 21. that said, there does appear to be bipartisan consensus with regard to to mental health as well as improving national backg

it is difficult to have a big increase in budget -- we go to the kevin cirilli. on $500 billion over two years. where are the deficit blocks in washington? kevin: you are going to be hearing from the forces yesterday who are aimed to members of the house freedom caucus that said this plan is fiscally irresponsible. in addition to that, the 25 toty of their caucus, 30 members of the republican party in the house, would have a difficult time getting on board. i spoke to representative gary mendy who democrats say he was one of the 17 members who voted for the original house version of this and this person coming back from the senate is something he is going to like even more. for the first time, centrist democrats may have leverage in this debate in the house. chart justp this bring up this chart. here is the clinton surplus and down here is kevin cirilli's multiple trillion dollar budget deficit. when you look at this and the ceo does their work, how will the politicians respond? do they ignore the fiscal industry? kevin: what is interesting is it raised the debt

we are joined by kevin cirilli live on capitol hill. mcconnell has scheduled votes on immigration for 2:30 p.m. izzy doing this because he supports one of the bills, particularly the senate bipartisan bill? for is he doing this to fulfill his promise to democrats he would schedule a vote? kevin: regardless of the reason, he is doing it. in just under an hour and lawmakers in the senate set to move ahead with the plan the president and his administration say would turn the united states into a "sanctuary nation." the president vowing to veto any immigration the gang of 22 proposal, should it ultimately reach his desk. theres a big "should," are several prominent republicans of the upper chamber against this, including ted cruz. should it getde, to the house of representatives the president faces much more support within his own caucus. at stake here now is what they feel from the administration's perspective would put the parents of dreamers on a potential pathway to citizenship and not provide enough funds for the u.s.-mexico border. ju

here is kevin cirilli speaking on the budget deal that hopefully will get through congress.ssed some challenges. from new york, this is bloomberg. ♪ >> bloomberg markets, i'm julia chesley. scarlet: and i'm scarlet fu. us, the equity derivatives strategist, i know you talk to him yesterday. we wanted to bring him back to talk about what has occurred in the market over the past week. you reminded me last june you laid out the mechanics of what happened monday would look like. if we saw a spike in volatility exacerbated by a blowup. what happens now? this has effectively blown up. they will continue to trade. they don't matter as much now as they used to. a significant source of instability, in the volatility complex has been wiped out. they will exist as a shadow of their former self. -- there is less instability in the system now. we are no longer going to see as much demand for volatility and they are not going to be as exacerbated. if we look at selloffs, there is always a sacrificial lamb. it was people invested in energy credits. there is always a sacrificial lamb that h

julia: chairman of the house freedom caucus with kevin cirilli.f after the bell. let's start with amazon, amazon delivery what analysts hope for. a strong bid for the earnings per share. cloud business increasing competition and added more customers in prime. take a look at the stock performance after hours, up 6.1%. joe: apple up modestly although q1 outlook a little less. scarlet: and profit at alphabet falls short. this is bloomberg. ♪ >> coming up, the latest on deutsche bank fourth-quarter results. >> been the jobs report. >> don't miss the next report, that does it for what'd you miss? >> have a great evening. >> you are watching bloomberg technology. let's start with a check of your first word news. president trump will approve the release of a memo that alleges surveillance abuses by the fbi. the white house agreed to some reductions with the house will be responsible for releasing the memo because it is a legislative document. pelosi dismissed it as a cover up republicans claiming the motive is to protect president trump. it was prepared

kevin cirilli is with us in the cold of washington.action of the idea of fbi agents and even the director of the direct -- the fbi resigning if this memo is released. is that even possible? question and great it is one that lawmakers were asked yesterday, including one of the top republicans here at the republican retreat in west virginia. senator langford was asked about this. it is on everyone's mind, but right now we just do not know. it is too much unknown. mostly every republican yesterday including house speaker paul ryan saying they hope this memo does get release despite democrats saying they do not want it released. we should note there have been some republicans, including senator jeff flake, who said maybe we should take our time with the release of this. the fallout continuing and its' likely release could come today. tom: let me bring up sean -- history lesson. he talked to seven or nine historians. brands the acclaimed hw out of texas. the death of j edgar hoover -- but the fbi had its own interest and secrets and in the

kevin cirilli is with the chairman of the committee that held today's meeting. kevin, take it away.ank you. we are here with jeb hensarling. chair says the economy is doing pretty well and as a result there could be more confidence for another rate hike. your thoughts? jeb hensarling: it is nice to have the affirmation of the federal reserve chairman, but i hear from my constituents every a long way.es it is not crumbs, not armageddon, and it is not unpatriotic for people to be able to pay their bills, not live paycheck to paycheck, send somebody to college, start a small business. it is nice to have the affirmation of a new fed chairman say that. yes, the economy is rosier than what the federal reserve anticipated. you heard the federal reserve chairman allow for the possibility of a fourth rate hike, and we always knew, kevin, one day we would be here. when the economy was stuck in low gear, said policy did not matter as much. now that it is moving into high gear, they are walking a tightrope. one side is recession to the other side is inflation. it is a tough balancing -- recessi

we are joined by heaven's early live at the white house -- by kevin us a really at the white --cirillit the white house. what do we know? kevin: it will rely on the $200 billion of investment coming from the government to jumpstart the plan. the second point is that this plan relies heavily on states in terms of reducing the permitting process and the time it takes in order to get your mitts per moved -- approved for plans throughout the country. republicans even backed during the camp -- back during the campaign season said the time it takes for local municipalities to get approved could tend -- end up taking years. they want to see this reduced. there was also about policy it chooses from environmental standards. linkays they are hoping to public and private partnership through the idea known as asset recycling, an idea first pioneered in australia. in terms of connecticut, a democratic state, they have viewed some plans. i'm sure you'll hear republicans looking at connecticut as an example. it would allow the private sector and private investment to come in to some of the municipali

francine: kevin cirilli, thank you so much.steve wieting. , how do look at all of the politics? does this help with gdp of the margins? steve: it would help it on the supply side of the economy, but what is a $200 billion federal financing for infrastructure in the economy do? that is just a drop in the bucket. that would come from a sharp rise in productivity growth. that would come from an unusual pickup in the labor force. but probably more so from productivity growth. now that we are down here for decade lows on productivity growth, getting some notion that that could pick up and close the cap somewhere between the 3% or 4% is not an unreasonable thing to think about. you are taking off some of the constraints. this does not mean we have a recession within that can your period of time. march, whatl into are the citigroup economists saying about the investment spirit of american corporations, or in steve wieting's world? it has been a very sharp rise in business confidence. you are seeing some pickup in business investment.

vonnie: kevin cirilli, thank you. kevin: thank you.tephenill ahead, schwarzman weighs in on the recent market volatility. this is bloomberg. ♪ mark: this is "bloomberg markets ." i mark barton from london. vonnie: from new york, i'm vonnie quinn. mark: right. it has been a big week for blackstone. john gray was tapped as the steveated heir justo schwarzman. today, steve spoke to bloomberg. he spoke to jason kelly. normal,nk it is pretty and if you look at the world, the developed world will probably girl around 3% -- grow around 3%. % or less..25 multiply that for 12 months, and what do you get? you get stock market performance if you just annualized that somewhere in the 80's to 90% with 3% growth. that is simply ridiculous. stop that have to kind of compounding or else you have almost a whole year's performance in one month. what is going to happen in that scenario? will, got to go down -- well, got to go up and then down and then up. a volatile world is what should happen at the end of the day? not hour to hour the way television wo

tom: thank you, our chief washington correspondent, kevin cirilli.tial twin deficit is howard ward of gabelli funds who has lived the 20th is it good -- quinn deficit. deficit. the deficits as far as the stock market have not really mattered for a few decades. that does not mean they will not at some point. particularly given our burgeoning government debt load and rising interest rates. if you raise the average interest rate on the deficit by one percentage point, you are talking hundreds of billions of dollars of extra interest payments and gets livelier from their. -- uglier from there. it is potentially a concern. tom: we will come back to this. we will talk about apple. johnson withy disabilities on international aviation, speaking with tom enders of airbus. from london and new york, this is bloomberg. ♪ ♪ francine: this is bloomberg surveillance. from london and new york. let's get to airbus flits shares jumping the most in six years after they promised earnings growth of 20% in the current year. this is despite engine issues slowing production

tom: kevin cirilli, thank you so much. he is our washington correspondent.k at market dynamics. he has been right, he has been wrong. we shall speak with dennis gartman about a market moving upper left to lower right. this is bloomberg. ♪ ♪ francine: this is -- good morning, "bloomberg surveillance ." we were talking with james sweeney about the dollar dynamics. this is what we picked out for our morning must read. this comes from james sweeney gravityand it's called or let's bring it up so i can read was going on. gravity versus the dollar. the dollar weakness is unlikely to change the fed's policy course, even if it boosts gdp slightly. our view is through whatever short-term noise occurs, the dollar will conform to its historical pattern, bringing it for the bottom end of its trade weighted range. james is with us, james sweeney of credit suisse. what if 2018 were radically different? james: sorry, what did you say? francine: what if it were different james: you are arguing it continues to slide or continues what it has done in the past. what if this time

kevin cirilli joins us in washington right now.y, searching for a new america. within the budget battle in washington, can there be any agreement to get to the shared responsibility of balancing or doing our books? kevin: the clock is running out, the house approving the partial funding bill to keep the government open. lawmakers have until tomorrow night, and the senate, in order to get this done. i was talking to some folks puterday in the daca thing forward by a republican and democrat respectively is not something this white house is on board with. tom: that's exactly where i want to go. my amateur take is that they are trying to move immigration out of the debate. will president trump allow that to occur? or is he superfluous to the debate? kevin: the white house is not want to see this -- wants to see the issue of immigration can really separate from the issue of government funding. republicans want the issue of immigration to be totally separate from any type of brinkmanship or government funding battle. on the flipside, dem

julia: kevin cirilli, thank you so much. we didn't even get a chance to talk budget 2019.ead on arrival. up, the spotlight on searchlight and a conversation with the founder. how the recent market volatility is impacting future. this is bloomberg. ♪ scarlet: this is bloomberg markets. in the marketare to invest in companies, what all the volatility means, especially in those investing in tech, media, and telecommunications. david westin said that with the bash set down with the cofounder and talked about how volatility has impacted their business. we are long-term investors and were looking at five or 10 years when we are making investments, and volatility creates opportunities for us. david: have the prices been rich for you? at the recent volatility, it is nothing compared to the last nine years or we had zero interest rates and all-time high valuations. david: you recently announced a new partnership with a lion tree, tells about that and white would be an advantage for you and them, wisest bigger than the sum of its parts? that when both saw is we look at the growth, i

joining us now is the chief washington correspondent kevin cirilli. who else is on the agenda here?n: right now, behind the head ofear -- the nra is addressing this forum. i have covered this for several years now, and he has received the loudest applause for his attack politically against democrats, but muted lines to his proposals to armed teachers in the classroom. most of the proposals president trump we did about later today, saying he is not in favor of all teachers being armed with guns, guns ater have certain the school with professionally trained administrators. senator marco rubio, a republican from florida, has distanced himself from several -- lawmakers are expected to return capitol hill next week, where they will likely be discussing a host of gun policy reforms. several of which are bipartisan proposals, including from senator rubio and senator nelson , his democratic colleagues. that would include strengthening the background check system as well as allocating more funds to bolstering mental health requirements for legal gun weapons. this comes at the time when stude

kevin cirilli is in washington with one of their members now.ou guys get on board with this at all or is this a nonstarter? >> this is a nonstarter. the house it we're going to keep everything else that, we did our work, and it than 150 days ago, but it always comes to senate failure. obamacare failed, face plant, same thing here. votes, ande democrat fiscal restraint, that it isn't in the republican playbook to increase spending by $300 million. billion, we don't want a compromise where we? spending by $300 billion. people are not getting paid increases of 300%, right? the government open for two years, raise the debt limit, provide certainties, so what do you say to folks who say, wait a minute, we want certainty. >> you are going to have fiscal implosion. they will implode, social security and medicare according to their own board of trustees. had wage inflation show up in the market, interest rates are going to call when you carry a $21 trillion load. to say is we have bipartisan agreement, it is easy to say more, more, more on the kids back

our thanks to kevin cirilli, bloomberg's chief white house correspondent in west virginia t the g.o.pconference. ♪ vonnie: live from new york i'm vonnie quinn. mark: and live from london i'm mark barton with "european close." 7 1/2 minutes. matt miller spoke with of novo officer nordisk. >> i'm optimistic about 2018. we have guided the market that will see a 2% to 5% growth in top line and 1% to 2% in bottom line. the key thing that came out in our release is we have seen significant head wind for the u.s. dollar taking our top line down by 7% and profit by 10%. if the current exchange rates continue. so that's -- the current curnsy is key for me right now. matt: how do you expect that to pan out this year? i mean, do you think the currency is going to keep -- is going to continue being a problem in 2018? what do you expect from the dollar? lars: i wish i knew. i can't comment on the development. we have strong momentum in our business right now. we see a continued uptick, doubled in market share in 2017. and we are seeing cardiovascular safety is surely growing in the u.s. and we are

kevin cirilli is at the convention center for cpac and saw the speech.> he just announced the sanctions and calling it the strongest sanctions ever. later this morning, cabinet level officials and administration officials will discuss this, cutting off revenue portrayed businesses and shipping company assisting the north koreans. the speech was largely vintage campaign trail donald trump where he discussed a wall, made fun of his hair, walked off to "you can't always get what you want." good, whenta is no nafta negotiations are coming to a finish and some republicans on capitol hill including chuck grassley urging him to stay in nafta. but will largely dominate the mainstream cycle is his support of arming schools and saying gun free zones in schools are no good at putting children at risk. the conversation continues around gun control, even as the gamesig games -- olympic get ready to wrap, more sanctions. vonnie: talk about the midterms, a freakish amount. these people will try to raise money and continue the effort for the gop to not have seats overtu

we welcome now our chief washington correspondent, kevin cirilli. to be clear, that is not all federal investment? in fact, most of it, the federal government is sort of relying on private investment as well as state and local investment. how does this whole system work? kevin: you're absolutely right. this is really going to come down to three factions for the president and his administration 's infrastructure proposal. billion downa $200 payment, of sorts, to help jumpstart this program. $200 billion in federal funds. the second, relying on a reduction of the time that it takes in order to get permits at the state level. the administration promising to cut regulatory red tape, focusing in on key environmental protections that they say prolong the progress and stunt job growth. the third point, this is where it gets interesting, they are reliant on private and public partnerships. a wonky term first spearheaded in australia known as asset recycling, allowing the private sector to come in and buy off the debt from municipalities and other federal st

kevin cirilli joins us. to begin on the monday after what we saw this weekend. but what we really saw was a quiet president. he was not all that visible. why is that happening? kevin: we also heard from president trump on twitter, kind of still weighing in on this hunter mercy that many folks on capitol hill are wondering why he was engaged in this controversy. i think from director mulvaney over the weekend, you heard what the white house is really suggesting and i think there is a frustration of former aides to president trump who have been shut out of the president's inner circle are getting some type of political retribution on this. the question becomes, look, this is the president wants to focus on infrastructure. the congress is set to begin debate on immigration. there are really important issues being debated outside of this. and why the white house is continuing to trip up on this, it is kind of baffling. tom: i will go with that and also your expert, the distance between 1600 pennsylvania avenue an

kevin cirilli, who is a busy man today, caught up with the senator to talk about what is going to beiscussed at the white house. >> there are a lot of jobs in we louisiana leads to nafta. in my state, international trade accounts for almost 35% of my states gdp, their agricultural, refinery workers -- you name it. we need to reserve those louisiana jobs. indicating that america first does not mean america alone -- but on the issue of nafta, this is something that president has campaigned on as something he thinks is not a good deal for americans. what you say to president trump supporters who don't like nafta? update nafta and recognize that our problems are not canada or mexico, our problem is china. we haveico and canada, adopted similar values because we have stronger trade relations, and with louisiana we have our industry helping develop mexico energy resources to the benefit of all. that is a good thing. there is jobs in my state and elsewhere. our problem with trade is china and that is what we should focus on. kevin: what part of nafta would you like to see particularly -- ca

they: kevin cirilli from congressional retreat in west virginia.eard from speaker paul ryan and from several other members, but the president himself has arrived and will speak now. let's listen. ♪ trump: thank you paul and mitch for the introduction, tremendousr leadership. you folks have done well. i look at some numbers. you have even done better than you thought, we think, based on what we saw 10 minutes ago. i want to thank you to the government of this incredible state, my very good friend jim justice and his wonderful wife kathy, who are with us. jim is now a proud member of the republican party. he was a democrat. he switched over. right? you do not see that too often. you will will -- maybe see that more and more. we appreciate it. it is good to be among so many friends for the second time this week. tuesday was an incredible inspiredas we were all . [applause] president trump: and i mean that, we were inspired by byrica's heroes and uplifted everyone who has sacrificed in the fight for freedom. they were and are incredible people that we

tom: joining us now is kevin cirilli.ion that tim o'brien asked and i know you have to answer it in a different way than mr. o'brien. "the washington post" alludes today to donald trump is libertarian. the budget that was presented yesterday, does that indicate a new libertarian donald trump or mick mulvaney or libertarian senator paul from kentucky? kevin: i'm just a reporter, but i don't see how that budget proposal is libertarian at all. i think it is more government spending. i spoke with several republicans yesterday, particularly those who were a bit perplexed at last year's to be government expansion -- last week's to government extension, that this was a "symptom of the swamp." this is more government funding for a host of programs from infrastructure, opioid addiction, national defense. i'm not saying that's a good or bad thing. i'm not seeing how that's libertarian. tom: the speaker pelosi taking a victory lap? kevin: she had a lot of pressure on her, but before last week, daca8.5 hour filibuster on was somethin

i believe that we are joined now by kevin cirilli. et: yes, kevin, we have you on to talk about the breaking news that according to "the new york times," hope hicks has resigned your you was after she testified for eight hours in front of the house intelligence committee. do we connect the dots here? kevin: no question, the timing of this report comes at the time that hope hits, the twentysomething senior advisor to president trump, who has been by candidate trump, businessman trump's side for several years, one of, really, essentially a member of his extended family, now saying that she is going to be out. i can't stress this enough, she is someone who has really been by the president's side on the campaign trail, largely seen as a gatekeeper to the trump political, trump business universe. someone with deep ties to trump world. virtually not separated at all on the campaign trail. someone who had a rapid ascent into the seniormost global and political circles. kevin: the white house has now confirmed her departure. explain a little b

and kevin cirilli in washington. you can follow the latest breaking news on bloombergs tictoc.is one of our highlights on tictoc streaming live on twitter. from bloomberg headquarters, this is the markets. headlines ongo to first world news with mark crumpton. mark: president trump told the nation governors he would have rushed and to eight students and teachers during the deadly mass shooting at a florida high school. he found fault with the officers we did not stop the gunmen who carried out the massacres, saying they weren't exactly medal of honor winners. governor was one of two democrats to address the president publicly and express his concern about arming to respond a worry to school shooting sake we need less tweeting and more listening. oppression is fashionable again and fundamental freedoms are in retreat, those words from the united nations commissioner for human rights. he said to the human rights council in geneva that white more is being done to stop human rights abuses around the world. >> when an elected leader claims the jews for perpetrating the holocaust as

i have an op-ed with kevin cirilli of next hour. is this about a buildup in debt?a rule of thumb i would look at the nominal gdp growth is my bench mark to a long-term yields should be. well above is long-term yields. what i am saying is an exit out of the age of caution and excess savings into a normalization where yields go back to levels consistent with normal economic momentum. you to mylet me bring chart. what happens after 3%? does it go back down, does it 3% and climb to 3.5%? what is it due to volatility? kallum: i would expect yields to .o to 3.5% or 4% it reduces the present volume of cash flows. when it comes to the underlying drivers, this is higher inflation and productivity growth with no major macroeconomic consequences. the transition from high inflation to high productivity, i don't think anyone is willing to draw the line there yet. that is something that most policymakers are struggling with. they are heading to 4%, and that is pushing it. i think there will be a pullback immediately. comprehensive financial conditions come the yield is one part

the always polite kevin cirilli.does it full to confidence -- full into confidence and the equity space? jack: these little dribs and drabs are hard to latch onto and ascertain some kind of value. attack againart to the administration and it looks people will see key indicted and the equity market problem. tom: he does speak about the five challenges that mr. mueller has. the first one is that mr. mueller will move fast. francine: we've not even talk about john kelly. we need to figure out exactly the future of the white house chief of staff. jack ablin is staying with us. also coming up that little bit later on, we'll be joined by the ster talkingni about supply cuts. this is bloomberg. ♪ tom: good morning, everyone. tom keene new york and francine lacqua and london. we are waiting for an important conversation on oil. n as we lookack abli at volatility. bring up the chart here. the vix with the red circle and that 50 blowout the other day and down we go back to average. tell me the volatility. jack: i cannot say vo

tom: kevin cirilli, our chief washington correspondent.w, adam posen with us. is the social media, the news flow, what mr. bezos is doing to "the washington post," has it changed how you do business? adam: sure, it has. the competitive model for think tanks is totally changing because of this, that also because of the anti-elite, anti-technocratic attacks. tom: anti-expert. just we had a model, not us, that was essentially you show up at the commission, brief the secretary of treasury -- tom: it is gone. it is not gone, but in washington it is almost gone. out for a while. tom: we have to stop the show. adam posen and teen vogue? adam: no, my authors in teen vogue. i cannot make it in. tom: vanessa friedman will be with us in a minute for fashion. we could do a makeover. komal: at 17 -- adam: and 1750 mass avenue becomes the cakewalk. we are trying to get ahead of this. one of the great things which bloomberg does, and which others are trying to do and we are trying to do, is get charts out and have links behind them to explain why they ar

tom: kevin cirilli is our chief philadelphia eagles correspondent. kevin: thank you, go, birds!watch the football game. i want to go to bitcoin. bring up the charts. this is happening in real time, and the basic idea is we're about ready to go through a lull. i want to you help bitcoin lovers and bitcoin haters with what a set of lower highs mean along a trend. what does that mean to a chart guy like you? chris: it means we're not ready to own it yet. think goes lower before it ultimately goes higher. the trend is clearing down. we're down 60% from the highs not long ago. until it stablizes, you can't touch it. tom: critically here, can you institute a short trade on bitcoin here, or has there been so much of the trade done that you just have to wait for the opportunity to reassert a short? chris: i think you can press a short here. the trend is down. tom: what do you mean press a short? that's massive jar began on a monday. stop it, chris. chris: you can be short here, let's say it that way, but you have to be very mindful of your stocks. you can't be dogmatic about this. if it

we are joined by kevin cirilli, live at the white house.here has been plenty of turnover in the white house -- not necessarily in the oval office, but in positions supporting the men at the oval office. a lot of it has been, in the past, rooted -- there was a direct line to the president. now, the blame seems to lie with the chief of staff. kevin: i spoke with several aides last night that told me the frustration and level surrounding how john kelly has porter the firing of rob , because of the abuse allegations, it is reminiscent of the chaos that is reminiscent of when anthony scaramucci and reince priebus, as well as when the president fired james comey. there had been some steadiness for the last couple months for this white house in terms of the staff and turnover, but that seems to be gripped in a level of chaos that this administration thought they were ahead of. paul ryan taking this issue head-on, saying at a press conference that anyone -- if there is a breakdown in the government, should domestic abusers be allowed to work in the

we want to bring in kevin cirilli, our chief washington correspondent from our washington bureau. tell us a little bit more about the washington men who pleaded guilty? kevin: this was announced in juxtaposition with the indictment that came out against the 13 individuals from russia as well as the three businesses. we do not know, for example, which this individual, who has announced a plea deal with the u.s. authorities, is in fact someone who worked to rapidly -- workeda, as it directly with russia as a russian actor, or who considered himself an american. we will bring you those details this get them, but bombshell indictment. republicans seething on the fact that they feel there was nothing in here to to directly assess whether president trump nor his campaign was aware of the involvement of russia meddling, but the indictment be on the politics of this, president trump has been briefed on the indictments and we are awaiting some kind of statement from the white house. fors said to be in florida the holiday weekend. that is the politics. on the policy front, from a broader, hi

kevin cirilli joins us from washington.d to contain the social media of the president. we have seen three or four days of a twitter storm out of the president. how does this end? is russia propaganda. let me repeat that. rt is russia propaganda. , the dig into the policy administration has been critical about the united states having a lack of response or counterpart -- equivalent to our -- to rt in the international space and there has been talk high the scenes for the united states to develop an alternative to rt. tom: didn't we call that voice of america? kevin: i think voice of america quite frankly is researching, but the administration has quietly, for quite some time -- and the obama administration turned down the opportunity to do this, but the administration has been quietly talking about an equivalent of such to develop. tom: the link is there of all these things russia and this horror in russia is -- florida is important. in the last one of four hours, maybe the needle has been budged on republicans and the natio

kevin cirilli is in west virginia at the republican congressional retreat. us a sense of how hot this issue is in washington. kevin: scathing. the bottom line is that yesterday, several republicans telling us at the retreat in west virginia that they are all in, in terms of getting this memo released. today, president trump bolstering their claims and saying he supports the release of that. democrats are saying that the nunez memo is something that was edited. mark meadows said those were little more than grammatical edits, and paul ryan telling us yesterday they needed to be edited as a matter of national security. either way, the senate minority leader is calling on paul ryan to remove devin nunes from his chairmanship of the intelligence committee. that likely will not happen, but the memo could be released as early as today. comey has tweeted as well. "all should appreciate the fbi speaking up, but take heart. american history shows in the long run, weasels and liars never hold the field as long as good people stand up. not a lot of schools or streets na