jonathan: krishna? krishna: krishna: we agree.erage loan market is being driven by a need for income in an environment where rates are rising. so i think that gets you to the right point in terms of demand and supply. the overall -- the cred quality of the corporate sector is stable. it is not superlatives but it is stable in our view, and the fact that leverage loans are senior at this point in the cycle where credit spreads are relatively tight, i think that makes them more attractive as well. jonathan: jeff? jeffery: sure. so i think we all agree from a short-term perspective rising rate environment, good economy, good economic outlook, great liquidity environment is a great environment for low default rates. and the rising rate environment and loans really do better in that kind of environment. have seen that performance and loans relative to high-yield bonds. the one piece everyone knows about, and investors going into these know about it as well, but it is setting the asset class up for a very different experience when the n

krishna: we agree.age loan market is being driven by a need for income in an environment where rates are rising. i think that gets you to the right point in terms of demand and supply. -- the cred quality of the corporate sector is stable. it's not superlative, but it is stable, in our view. and the fact that loans are senior at this point in the cycle where credit spreads are relatively tight. i think that makes it a more -- makes them more attractive as well. jeffrey: we all agree from a short-term perspective rising rate environment, good economy, good economic outlook, great liquidity environment is a good for low environment default rates. they do better in that kind of environment. the one piece everyone knows about, and investors going into these know about it as well, but it is setting the asset class of -- up for a very different experience when the next cycle happens. where are you in the capital structure? what does seniority mean? the leverage market is going through structural change. it's

krishna: have been up to.in, emergins are the best value, if you buy anything at the margin, that's where you look at value. let's be clear about one thing, that is emerging markets, not just dollar denominated debt. it's local currency, and it underperformed u.s. markets in a meaningful way across the board. e.m. fx a substantially weaker so a tremendous amount of value. jonathan: stick with me, krishna memani and subadra rajappa, and gershon distenfeld. in the markets, twos, tens, and 30's. yields higher at the front end by seven basis points. cycle highs on a two-year, 2% on a one-month bill in the treasury market. have a think about that. up four basis points on tens, twos, and 30's. still ahead, the final spread of the week from the bank of japan and the 10th anniversary through the weekend of the collapse of lehman brothers. this is "bloomberg real yield." ♪ ♪ jonathan: i'm jonathan ferro. this is "bloomberg real yield." it is time for the final spread. coming up over the next week, we will have the offi

krishna: not close, but we're getting there.n: i did this just for you, this final question is for you and you don't have to play if you want to, subadra. u.s. high-yield or leverage loans? gershon: tied. u.s. high-yield by a wide margin over the next 12 months. subadra: pass. krishna: leveraged loans. jonathan: we will do that another time. subadra rajappa, gershon distenfeld, and krishna memani. from new york, that does it for us. we will see you next friday at 1:00 p.m. new york time, 6:00 p.m. in london. for our audience worldwide, this was "bloomberg real yield." this is bloomberg tv. ♪ ♪ welcome to bloomberg businessweek. jason: we are inside bloomberg headquarters. trumping up, donald promised to drain the swamp in washington. tim o'brien, his biographer, shows he has done quite the opposite. m and facebook and twitter executives were there last week, promising more transparency. google founder larry

krishna: not close, but we're getting there. i did this just for you, this final question is for you and you don't have to play if you want to, subadra. u.s. high-yield or leverage loans? gershon: tied. u.s. high-yield by a wide margin over the next 12 months. subadra: pass. krishna: leveraged loans. jonathan: we will do that another time. subadra rajappa, gershon distenfeld, and krishna memani. from new york, that does it for us. we will see you next friday at 1:00 p.m. new york time, 6:00 p.m. in london. for our audience worldwide, this was "bloomberg real yield." this is bloomberg tv. ♪ alix: opec's warning versus iea supply fears. opec highlights the global economy while the iea warns of oil prices over $80 a barrel. florence is a deadly game of chess. hurricane florence barrels toward the east coast, disrupting commodities from hogs to sweet potatoes. and brown into trump, you are the saboteur in charge. governor jerry brown goes all in on climate change and is signing a bill to move the state to 100% clean energy by 2045.

krishna: not close, but we're getting there.han: i did this just for you, this final question is for you and you don't have to play if you want to, subadra. u.s. high-yield or leverage loans? gershon: tied. u.s. high-yield by a wide margin over the next 12 months. subadra: pass. krishna: leveraged loans. jonathan: we will do that another time. subadra rajappa, gershon distenfeld, and krishna memani. from new york, that does it for us. we will see you next friday at 1:00 p.m. new york time, 6:00 p.m. in london. for our audience worldwide, this was "bloomberg real yield." this is bloomberg tv. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when

and krishna memani.our thoughts on the convergence divergence arguments. ms rajappa: the divergence seems to have continued. my concern is if you listen to the ecb this week, they are pretty much on hold for a good portion of next year, qe is anticipated to end sometime by the end of this year and what that really leaves them with is very cognitive policy, in contrast, you have the u.s. raising rates four times over the next year, which makes it very hard to time monitor policy if the u.s. tries a slowdown for the later half of the year's divergence could stay on a little longer than we anticipated. mr. distenfeld: i agree. we are forecasting the six-time until the end of 2019. makee short-term county continue to see divergence. if the framework works out, convergence/divergence won't go in, all of this will the tank if the fed tightened six times and the ecb doesn't do anything because the dollar re-strengthen to a level that would be of suitable for the global economy. at the end of the day, the conver

subadra rajappa, gershon distenfeld and krishna memani. it for us, we will see you next friday at 1:00 p.m. new york time, 6:00 p.m. in london. for our audience worldwide, this was "bloomberg real yield." this is bloomberg tv. ♪ to rent a movie? showtime. or buy the hottest shows. even here? we've got you covered. now they are all yours. to take on the go. on any screen. bingo! alright! and watch whatever you buy. wherever you are. head to xfinity.com/stream to start watching. simple to rent, easy to buy, awesome to go. yousef: you're watching "best of bloomberg daybreak: middle east." the major stories driving headlines. currencies synced to a 17 month low and asian stocks suffer a losing streak as trade tensions and monetary policy fears weigh on investors. central banks from agents get a bank of egypt gets a reprieve as inflation rises at the slowest pace since may. and, whether middle east could see the next oil rush for premium brands. ♪ yousef: bloomberg sources said saudi arabia's oil front was

which is why sri krishna balachandra helped co-found i got garbage patch for. companies in households consuming the garbage collection the waste this picked up and brought to a modern recycling plant so that way it doesn't end up in a legal landfill. cloud based platform was developed together with the multinational information technology company mindtree. i got garbage connex recycling plants waste pickers and households own take is that vailable online which makes me realise just how much waste we all produce was i was really in with have been people but you don't even know how much would you know you're saying always or even before i don't drink much but you know you actually quantify the end of the month you actually see somebody like five down and down fifteen down with a new say like you're actually going to get a lot. of the ideas bearing fruit since twenty thirteen i got god which has helped bangalore recycle thirty five million tonnes of waste and more than eight thousand waste paper is now have a brighter future. and no saving lives with a smartphone

now for our networkers digital doers and dreamers and their projects today three krishna valent chandra and. businesswoman to solve the waste crisis in bangalore india and help improve the lives of the city's waste collectors. to get that one dollar dollar a day before handing but. never know what they're getting contact with they're not they don't wear anything so if you have lost everything in life you have no hope in life that's when you actually become a technique. which is why sri crystal palace chandra helped co-found i got a garbage truck for. companies in households can summon a garbage collection the waste is picked up and brought to a modern recycling plant so that way it doesn't end up in a legal landfill but the cloud based platform was developed together with the multinational information technology company mindtree. i got garbage connex recycling plants waste pickers and households all data is available online which makes me realise just how much waste your produce. is really. people who don't even know how much would you know you're saying oh i should even before i don't

then he played an inspirational role as krishna reach the world cup final and that won him some high profile fans. shock and all but they have a great season with real madrid by winning the champions league yet a beautiful world cup and was a finalist in the tournament so logically he should win but i don't know it's not me who makes the final decision but i voted for him and said to me so i think he's a fantastic player a wonderful footballer but also great mentality. physically for somebody that's not good in stature is alive into it with the way it was the last day if moderates finally ends the mess you are not a stranglehold at the more than a few rows of delight in zagreb. you're watching the news that wives from berlin back in the top of the hour with more news followed by the day the pissing into. hell. make your small t.v. even smaller of course but still i'm so smart to. watch a lot more than you want to. up to date. extraordinary. texts. decide what songs on. sunday at the w. smart.

then he played an inspirational role as krishna reached the world cup final and that won him some high profile fans. championed all but they had a great season with real madrid by winning the champions league yet a beautiful world cup and was a finalist in the tournament so logically he should win but i don't know it's not me who makes the final decision but i voted for him and i said to me so i think he's a fantastic player. a wonderful footballer but also great mentality and physically for somebody that's not good in stature is applied in terms of the way it was down as a if moderates finally ends the mess you are not a stranglehold that he more than a few rows of delight in zagreb. is. now diving backwards from a twenty seven metre high cliff edge into the adriatic sea the cliff diving world series is not for the faint hearted sunday show. peace in italy saw two stars of the daredevil sport secure world titles british diver gary hunt sealed his first ever cliff diving world title in taking style beating competitors from the u.s. and mexico to record a crucial fourth win in the serie

then he played an inspirational role as krishna reached the world cup final and that won him some high profile fans. championed all but they have a great season with real madrid by winning the champions league yet a beautiful world cup and was a finalist in the tournament so logically you should win but i don't know it's not me who makes the final decision but i voted for a lot of them and so i think he's a fantastic player. a wonderful footballer but also great mentality and physically for somebody that's not good in stature. and in terms of the way for the u.s. now let's say if moderates finally ends the mess you are not a stranglehold of the more than a few rows of delight in zagreb. that's all you news for now place watch. wouldn't be fighting for the case to be taken seriously in the way of what appears has come out. goodmans talk on t w they do the female superhero on a mission smart women smart talks smart station a legend decent by no means missed out on it were increasingly dangerous stuff to make for my kids.

president's son in law and one of his top aides on thursday krishna was quoted in the new york times saying palestinian leaders deserve to lose a lot of in a fine the u.s. administration the palestinian presidential spokesman said that his comments showed ignorance krishna's the comments come off the troubles decision to cut all funding to an era an agency for the palestinian refugees well the statements come as u.s. officials say they're in the predawn phase of their long awaited middle east peace plan a white house correspondent can be how it has more on the story. president trump's son in law gary cushion our is defending the administration's hard line tactics when it comes to trying to achieve peace between the israelis and the palestinians of course in recent weeks the administration has taken a number of hard line positions including closing the p.l.o. office here in washington cutting aid to the palestinians and of course the moving of the u.s. embassy from tel aviv to jerusalem so despite this string of punitive actions christian or says that and insists in fact that this wil

keith, krishna, thank you, guys. >> thank you. >> good to be here >>> when we come back, tesla ceo elon made during the shareholder meeting. we have details on what he said next and later, the sun rising in south carolina as folks start recovery efforts after hurricane florence we will get a live report from the region in just a few minutes. "squawk box" will be right back. will it feel like the wheend of a journey?p working, or the beginning of something even better? when you prepare for retirement with pacific life, you can create a lifelong income... so you have the freedom to keep doing whatever is most meaningful to you. a reliable income that lets you retire, without retiring from life. that's the power of pacific. ask your financial professional about pacific life today. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. >>> jpmorgan ceo jamie diamond continued to walk back his comments about president trump he said he could beat trum

krishna intentional because you just look natural. and for sure our little world order while you conquered little talk middle will change your principles. we. want. to touch upon a moment. such . as. well that was an inmate on how cuts are affecting prison officers now let's hear from a member of the national executive committee of the u.k. prison officers association joining me is dave cookies one of nearly ten thousand prison staff that reason they held a day of action over the u.k.'s allegedly dangerous prison conditions dave thanks for coming on the show that president spoke to resell claiming he's seeing more drugs and self of all your members telling you what we're saying exactly the same thing drugs and self harm and violence in prisons have spiraled out of or proportions over the last five to seven years since your storage because of come in but that shouldn't be a surprise to anybody if you if you slash the prison you know the prison officers who maintain control and discipline in our prisons then it stands to reason that. cr

now for a networkers digital doers and dreamers and their projects today three krishna valentine tried. this mission to solve the waste crisis in bangalore india and help improve the lives of the city's waste collectors. forget that one dollar two dollars a day you put your hand in but. never know what to get in contact with they're not they don't want anything so if you have lost everything in life you have no hope in life that's when you actually become addicted. which is why sweet christin balachandra help co-founder i got garbage patch for. companies in households consuming the garbage collection the waste this picked up and brought to a modern recycling plant that way it doesn't end up in the legal landfills. cloud based platform was developed together with the multinational information technology company. i got garbage connex recycling plants waste pickers and households all dates it is a bailable online which makes me realise just how much waste we all produce was always getting with the big people you don't even know how much you're saying oh i should even before i don't drink

eliminate from saying from previous statements is quite another thing i was reading your report, krishna, and you think that they will remove the language -- let me let you describe what language they may remove and what it means. >> so right now the fed has a line in the statement that says policy remains accommodative in regular english that mean it's stimulative, it's below the neutral rate setting i think at this meeting that language goes, so they no longer describe policy as accommodative. now, the question is what does this mean? is this dovish, is this hawkish? my sense is that the market may be tempted to read this dovish. >> why, because if they're not going to be accommodative, the opposite of that is restrictive. >> so what you say i think has a certain basic common sense to it, but i think there's a mindset in the market that jay powell has told us he's just taking rates back to neutral and so when they get rid of this language, what they're saying is they're starting to draw closer to that neutral setting. my own view is that's actually not the right way to read it i think

thousands of trucks still waiting up to four weeks to get into the port and our correspondent adrienne krishna reports from lagos. breakfast on the side of the road is nothing new for this truck driver. segment is stuck in yet another traffic jam near the port in lagos. five to five days we've been stuck here for five days nothing's moving it's very stressful it's the only thing we can do is eat sleep and wait. is well known for its traffic jams but in the past few weeks the situation has worsened you to strike at the port truck drivers often have to wait for a month to get in and the entry cost of the port for their vehicles has quadrupled . businessman kevin and ben ali has come to have a look at the situation for himself he exports goods from nigeria. normally to three years ago we could do two three containers a month i mean a week now we're down if you're lucky one in two three weeks sometimes four weeks so the kinds of complaining you can't get as much product out of the country and it's just it's it's a disaster aid by noise says the bad state of the roads the lack of ports in nigeria a

much of that will be really transparent in public statements right chief political editor michel krishna thank you very much for that assessment. so we have permission i would german chancellor angela merkel wants from the state visit with the turkish president but what does he want from germany and america turkey correspondent you johan reports from istanbul. america looks friendly yet aloof while rigid type sleepy is that the plummeting. that's how cartoonists portrays the turkish president's visit to germany he says turkey's currency crisis is a huge problem for. it's affecting everyone in the country he's had to reduce the size of his satirical magazine lamond because the price of paper has more than doubled in the last few months. just getting to know at a. time isn't mission the is a dedication and self-sacrifice always been a part of liking in turkey. business especially in our field other than a pixel says oh look at the letter. but now it has become a real struggle to survive and i don't know if we'll be able to make it. many turks complain about the rising cost of living due to

the three people donald trump has put in charge of coming up with a peace plan his son in law jared krishna his former real estate and bankruptcy lawyers david friedman and jason green but none of whom have any experience in diplomacy or peacemaking all of whom are hard core supporters of illegal settlements two of them have even given money to settlements that's that's the trio that's going to bring peace to the middle east seriously you know jimmy carter. secretary of state whose name was cyrus vance and he came from the world of wall street law firms so you know everybody comes from somewhere the questions where they have a capacity to listen to come up with creative answers and to keep everybody on board right now everybody who claims that he's knowledgeable about the middle east has utterly failed there has not been a successful american peace initiative really i would say since camp david with egypt it's not just about their complete lack of knowledge of qualifications also their blatant bias as plenty of people even in washington d.c. have pointed out the u.s. at least pretended to b

president's son in law and one of his top aides on thursday krishna was quoted in the new york times saying palestinian leaders deserve to lose a vilifying the u.s. administration a spokesman for the bass said the cushion showed ignorance a white house correspondent can be harkat as more. president trump's son in law gary cushion or is defending the administration's hard line tactics when it comes to trying to achieve peace between the israelis and the palestinians of course in recent weeks the administration has taken a number of hard line positions including closing the p.l.o. office here in washington cutting aid to the palestinians and of course the moving of the u.s. embassy from tel aviv to jerusalem so despite this string of punitive actions christian or says that and insists in fact that this will have no effect on efforts to achieve peace between the israelis and the palestinians in fact he says this will improve chances because what he believes has occurred is that the united states has stripped away what christian are calls quote false realities but a former u.s. ambassado

terrorist was just a friendly village just like before the war part of his doff it changed later form for krishna that's a hit a hit and if i could i wasn't a mama's boy somebody would have told i thought my mother was wonderful but it's horrible when parents are constantly hovering over their children didn't hear them or won't call and settling not my father to dip in and i bet if i let my father lived in a different world he only cared about condensed milk and having fifty seven percent of the market because that's what i know many mom does under into a city mission is to go floyd to people ask if i talk to my father already gave me advice i mean it could apart from asking for a car or a new clothes no not really my father when it's charming but not would he like my mother well the nice of its if you might imagine. that it is the perfect and should an absolutely perfect nose. tim just pick up fairly thick eyebrows. you know it might be wavy hair you might want always earrings with a pearl. three diamonds in a pearl. kind of photos in photos there's almost something about arrogant about her beca

was just a friendly village just like before the war and potter says doff it changed later on for krishna that's a hit a hit and if i can i wasn't a mama's boy by then what i thought i thought my mother was wonderful but it's horrible when parents are constantly hovering over their children didn't hear them up on call in sets like know my father did you not vetted by that my father lived in a different world that you only cared about condensed milk and having fifty seven percent of the market because that's what many mom doesn't interest you genius you could go floyd to people ask if i talk to my father or he gave me advice i mean it could apart from asking for a car or a new clothes no not really my father what is charming but not would he like my mother well the nice of it if you might imagine. that it is the perfect and she had an absolutely perfect nose. tim dish tico fairly thick eyebrows. you know it would be wavy hair you might want always earrings with a pearl three diamonds in a pearl. the mother to bill you see the pictures you might think she oh no sense of humor at all but tha

krishna commission to attract the union fighting men to christ, if their needs were not met first. in this work, the christian commission was directed for preparing soldiers to act upon the christian message. also, the christian commission has been remembered as an agency that distributed bibles and underwritten -- other religious reading material. it did so much more. it also engaged in activities ranging from supplying fresh food to troops, teaching black soldiers, all in an attempt to bring these men to the lord. "'s commission chairman said there is a good deal of religion in warm shirts and a good beef steaks." u.s.or commission of the was formed in the summer of 61 as an organization that attended to complement the army's medical bureau. from its inception, the sanitary commission concerned itself with problems in the army ranging from sanitation, drainage, but also diets and medical care. you probably remember, your readings this week included writings from walt whitman outlining his time as a nurse during the civil war. indid serve as a delegate the christian commission. we

then he played an inspirational role as krishna reached the world cup final and that won him some high profile fans. championed all but they had a great season with real madrid by winning the champions league yet a beautiful world cup and was a finalist in the tournament so logically you should win but i don't know it's not me who makes the final decision but i voted for him and. so i think he's a fantastic player. a wonderful footballer but also a great mentality. physically for somebody that's not good in stature. and in terms of the way for us i am as if moderates finally ends the messy rinaldo stranglehold that we more than a few rows of delight in zagreb. is. still there. now chris i know you don't have a vote in this awards ceremony but you do have an opinion who do you think should win lucchitta matter it says he's known in the locker room at rio madrid lucchitta i think it's a no brainer you have to go with him because when you factor in the world cup you know croatia it until recently to do it in russia they had never made a final moderates walked away with the m.v.p. of that