he was wearing mark's hat, mark's coat.nd closed the car door and then proceeded to like scream down the driveway which mark would never have done. >> reporter: did you call out to him or wave? >> i waved and i went, "ugh, i hope that's mark." >> reporter: i hope that's mark? well, of course it must have been, stephanie thought, rushing a bleeding ding to the vet. about 20 minutes later, stephanie walked up to the house to use the bathroom. this time the door was unlocked. about this was weird. >> before i even got to the door, there was this immense smell of bleach. >> reporter: bleach? >> yeah, like it took my breath away. >> reporter: and inside the house? >> there was three wet, what looked like blood spots in the hallway that had, obviously, been just cleaned, and they were still drying. >> reporter: perhaps ding had bled on the carpet and mark had cleaned it up? but why would he take the time? >> he wouldn't stop and spend half an hour cleaning. his main thing would be getting ding to the vet, then getting to his appo

why, mark?se i passed the best night of my life. >> after returning to courmayeur, monica says mark stern told her he had been inspired by that night on the mountain and wanted to spend a whole year at a high altitude in a tent alone. >> he wanted to write a book, how to survive above -- >> 6,000 feet. >> exactly. for an entire year. >> that september monica says mark set up and equipped three separate campsites in the mountains above courmayeur. >> really beautiful. really beautiful. >> she says he told her that after publishing that book he was writing they would move to switzerland together and perhaps adopt children. >> this is my little city i started building. >> and so, as the temperatures dropped in the fall of 2009 and the snow came, the man monica knew as mark stern set to make a name for himself in the alps. to her, it seemed crazy. but writer buzz bissinger says monica's mark stern was actually behaving true to form. >> i think when he decided, i'm living this philosophical, aestheti

tripadvisor. ♪ >> mark: we >> mark: we have an update in the saga of seat snatching congresswoman sheila this week, united a airlines passenger jean marie simon was exiled to an economy seat despite buying a first class ticket, then she saw her seat handed over to sheila jackson lee. after ms. simon resigned jackson lee statement she was racist even to object. that's not true at all. ms. simon is a human rights activist who spent much of her life campaigning on behalf of poor guatemalaens. sheila jackson lee, meanwhile, has spent her life running for re-election, playing the race card, and becoming notoriously unpleasantsl airline passenger in the process. who would you side with? the 2018 winter olympics in south korea are just about a month away. and if any transgender athletes seek to compete they will be welcomed with open arms. ioc rules allow for transgender athletes to compete as their preferred gender. a biological male winning a gold medal in a women's event now seems a matter of when, not if. joanna harper is transgendered and an athlete. and argues that transgender competitors

♪ >> mark: good evening, welcome to "tucker carlson tonight." i am mark steyn.ucker is off celebrating boxing day, which is unamerican of him.yo we hope you enjoyed a christmas respite from politics, but it has not taken long for things to get back in full swing this morning.d motivated by his story he saw here on fox, president trump lashed out against the fbi overr the infamous salacious trump dossier, the president tweeted "wow, dossier bogus, clinton campaign, dnc funded dossier, fbi cannot after all this time verify claims in dossier of russian-trump collusion, fbi tainted.. and they use this crooked hillary pile of garbage as the basis of going after the trump campaign."he the regional campaign director for barack obama's presidential campaign, robin, this agent cooked up the dossier in a couple of weeks, and the fbi have been investigating for a year and a half and have been unable to confirm anythingea except that one guy carter page did get on the plane to russia at some point. otherwise after 18 months, all uncorroborated, do you think that the fbi sho

mark: spencer, great to see you.ncer bogart, head of research at blockchain capital in san francisco. the close is still ahead. and exclusive interview with the thales ceo, coming up. vonnie: we want to have a look at the rand. 3.6%.nd is stronger by bond yields dropping across the continent and south africa's 10 year yield is down 21 basis points. that is a lot of bond buying in south africa as prospects there look more attractive under a new leader. this is bloomberg. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn. the: and live from bloomberg european headquarters in the city of london, i am mark barton. time for the bloomberg business flash. espn, disney's powerhouse sports network. john skipper is stepping down saying he is struggling with a drug addiction. campbell soup will pay about -- for snyder. snyder's pretzels have been selling well. campbells soup sales have been in a slump. for she has agreed to buy texas-based amplified snack brands. that represents a 71% premium. the

mark steyn is in. ♪ ♪ >> mark: good evening, and welcome to tucker carlson tonight. mark steyn in for tucker who is taking a european union length christmas break which is revolting any unamerican of him. today was the deadline for the department of justice to turn over requested information about anti-trump text messages to the senate judiciary committee. the text messages were sent by former robert mueller team member peter strzok and a powerful sign that mueller's probe and other fbi investigations could be tainted by political bias. senator chuck grassley has demanded that the doj explain both when it found the messages and how it has reacted to them. will that information be handed over? so far it apparently hasn't been. but the doj and fbi have repeatedly demonstrated that they consider these requests from congress to be mere suggestions at best. richard good stein advised hillary clinton's campaign in both 2008 and 2016. richard, it's not a small thing when the people's representatives get to flip the finger by rogue law enforcement agencies, is it? >> mark, c

mark. may: you will find theresa there today, seeking allies ahead of the second round of the brexit. she spoke earlier alongside bullish counterparts. the point thatke a priority here today is giving assurances to the one million ,itizens living in the u.k. that they are a strong part of our society and we want them to stay. now, she leaves the u.k. government. you sense if the debacle would get to poland, it would come at that time, but theresa may has had at least a good week or so relative to recent months. >> it is a testament to the political situation that even in the latest blow, she has been able to handle it and cast it off. she was asked about it and there were not any words of, he is a close friend and i'm sorry to see him go. he was there meaning business. she managed to deal with a tricky situation. not exactly on the best of terms, with a degree. >> the timing is odd given the eu risk with the polls and reform. unlucky timing? say in this instance, probably lucky. reassuringr

mark? >> mark: yeah, exposed skin, you can get frostbite in less than 20 minutes.don't go outside with your bathrobe open. that's it for tonight. >> thank you, mark. welcome to the special edition of "hannity," the trump agenda. i am david webb and for sean tonight. president trump with bias. we'll talk about that in a moment. the president tweeting earlier today, "wow at "fox & friends," dossier is bogus. clinton can pay, dnc funded dossier, fbi cannot come after y claims of russia-trump collusion, and they used this crooked hillary pile of garbage as the basis for going after the trump campaign. president trump's tweet appears to be in reaction to reports

it gets really, really hard, mark. mark: take it away, ed. talk of bitcoin markets got me feeling sorry for the best performing assets because they're not stealing the headlines like bitcoin is. and when you talk of bitcoin in the context of the best performers across asset shows how much of an outliar bitcoin is. the year to date against the dollar, normalized since last year, up 19%, best performing major and liquid currency against the dollar. it's the least volatile global major currency in contrast to bitcoin and all you remember when the czech central bank removed measures to control the currency. xt, i heard you talk about paladium is the best major forming commodity, 50% up year o date and is the blue line in contrast to bitcoin and the shift has been away from platinum to paladium but see them switching back to platinum. and the final contender, pepper food services, tokyo listed the restaurant up 960% yesterday but still nowhere near bitcoin and an amazing performance trailing in the wake of bitcoin. mark: find that out. preferred f

i mark barton.nting down to the european close. prime minister theresa may is in brussels for the eu summit hours after facing an embarrassing defeat at the hands of her own party. joining us with the latest on brexit is anna edwards. how does that defeat in the house of commons change the debate? : it certainly will have changed her mood as he arrives. she lost that vote in parliament, amendment 7. she was at pains and she arrived today to point out she is one of of a few votes running up to yesterday, but you get in it to being disappointed. >> i'm disappointed with the announcement, but the eu withdrawal bill is making good progress through the house of commons. we are on course to deliver on brexit. parliament will now get a veto over the type of brexit set to take place. does that mean a softening? that is what investors are starting to ask themselves. demeans the prime minister will have to put something before parliament that lawmakers will find palatable. but had a lot of conversation about

rest in peace, mark telfer, and if they don't... ted! mark? mark!what happened? well, i -- the -- waaaah! mark? mark! is he gone?! [ whispers ] is he really gone this time? okay. you got to ask yourself, "why?" rest in peace, mark telfer, and if st. peter won't let you through those pearly gates, you just show him your press pass. god damn it, mark! you finally got your scoop! later in the hour, avocado toast -- what is it? why is everybody suddenly talking about it all the time? we'll search for answers. and now, turning to "dog news," no! no! down! no! now, turning back to our human programming, the makers of weight-loss drug novene are under investigation for covering up side effects including severe depression and all of your skin falling off in one big piece, which, obviously, results in a gruesome death, but are the allegations true? we'll get to the bottom of it. full disclosure -- "the fake news" is a wholly owned subsidiary of novene. ♪ joining us here for an objective breakdown is tfn health correspondent amy sussman, who, full disclosure,

mark: and i am mark barton.n bloomberg's new european headquarters in the city of london, this is bloomberg markets. futures in focus time. let's chat about gold, falling today. a risk-on mood hitting markets. will it continue? joining us is alan that men -- lutman with agora financial. is the drop in gold all down from here? alan: gold lost some shine because of bitcoin. we will talk about that in a second. gold had been trading between 12 1285. it has gone down from 1300. the downside target was 1245. we did reach that. let's see if we can find some stability. it comes back to the dollar. what is the future for the dollar? the rate hike next week is a done deal. a further out, there is only 50/50 chance for march, and another 50/50 chance for september. a gradual rise in rates i do not thek is going to affect dollar that much. the overall trade in the dollar is still downward. you touched on bitcoin. let's get to it. what is the trade-off right now between gold and bitcoin? alan: i think some of the attention

rest in peace, mark telfer, and if they don't... ted! mark? mark!u. all right. hey. he's alive. hey. what happened? well, i -- the -- waaaah! mark? mark! is he gone?! [ whispers ] is he really gone this time? okay. you got to ask yourself, "why?" rest in peace, mark telfer, and if st. peter won't let you through those pearly gates, you just show him your press pass. god damn it, mark! you finally got your scoop! later in the hour, avocado toast -- what is it? why is everybody suddenly talking about it all the time? we'll search for answers. but first, kaylee crete has the latest in celebrity drivel. so, kaylee, what about these wedding-bell rumors for jamie foxx and katie holmes? i don't know who that is. you don't? okay. talk about this, uh, feud between youtube stars da hindenburg and scum fluff. okay, so da hindenburg was doing a playthrough of fatal shadow 6 wearing a native-american headdress. which is very offensive. not when scum fluff does it, because she's 1/4 navajo, which is in her bio. but da hindenburg was doing it to, like, own scum fl

this is bloomberg. ♪ mark: i'm mark barton. vonnie: i'm vonnie quinn. the european close on "bloomberg markets." time for our stock of the hour. it is pg&e. shares tanking today, down 18% at one point. this on the news the company is suspending its quarterly dividend. with thethis got to do wildfires? >> the move today was on this news that they are spending their cash dividend. that is being taken in response to the possibility that they may be held liable for their wildfires back in october. cheap investigators announced back then that they were looking at some of the pg&e equipment as a possible cause of those fires. those fires destroyed very large parts of the area. take a look at a chart since the beginning of october. then has fallen almost 40%, $9 billion in market value. that's all since we had the company cited as the potential causer of the fire. mark: how much could they be on the hook for? >> no cause has been determined yet. jpmorgan estimates total liability could be $13 billion. the company is already facing some lawsuits from 300 plaint

mark barton.e: and from world that what is in new york, i am vonnie quinn. this is "bloomberg markets." we are awaiting oil inventories. an average drawdown of 2.8 million barrels. oil is trading lower ahead of the released by 1.5% for a barrel of crude. and the guilty little is with us now as the numbers come out. abigail too little is with us now as the numbers come out. abigail: a much bigger drawdown than what the survey had been calling for, 5.6 million barrels relative to the survey calling for a drawdown of 2.8 million barrels. that is bullish, a bigger drawdown than expected. main inventories is bearish. a build of 627 million barrels of gasoline relative to the survey calling for a build of closer to 2 million barrels. trading sharply lower, down 1.3% near the lows. it often takes investors little time to digest the report. bloomberg's commodities strategist thinks we are going to continue to see inventories will come even though that is not what we are seeing today. if we hopped into the

mark: at the european headquarters in london, i am mark barton.other make, disney buying most of the assets of fox . will the deal be approved by regulators, what does it mean for fox's plan to take control of sky? bob iger announced the government hurdles. -- acknowledged the government hurdles. >> it will take some time. we think the proposition here is very proconsumer. mark: let's bring in media main in london. there have been media deals reported. sky shares falling. what is going on, why? >> you would have thought on the data they would have gone up, but there is some concern whether disney is in the long term committed to buying all of sky because there was a statement they made to the takeover panel in the u.k. today which was they don't think they are obliged to buy skype. -- sky. given when it comes to media deals, the next question is always about regulatory bodies and will the deal get through. will this get past the regulators? >> it does have significant hurdles. we talked about the distribution angle, and the studios, but one area r

♪ ♪ mark: live from bloomberg's world opinion headquarters, i am mark barton.he european close on bloomberg markets and i am vonnie quinn. toll brothers down sharply, on its face for its worst day in two years after fourth-quarter numbers. abigail doolittle is here with us. >> it wasn't the worst quarter, the mr. earnings and revenue -- they missed earnings and revenue estimates but a high bar for expectations with the stock up more than 60% year to date going into the quarter and they were expecting the company to deliver. you could say shares were priced to protected relative to expectations. the stock on its face for its worst day since 2008. it was during the housing crisis. some think to buy the weakness, some macro trends more positive. one analyst defending the shares of toll. vonnie: takes place the recent -- explained the reasoning behind it. analyst from bloomberg said the good news is it is not a demand issue as it is very strong, especially for high and luxury homes with the average price point $840,000 and the average rise point for other $300,000.

mark western mark -- mark?ur next test says while the skies are relatively clear, there are clouds. patrick spencer joins us. he got it right this year. i tease him when he comes on here in we are looking at not just u.s. indices. out records as well. 2018 can't replicate 2017? >> as i said earlier in the year, skepticism is up. it is still fresh in people's mind. it's the most unloved bull market i've ever been in. of thelook at all estimates in 2018 such as our strategist who just put that up, he is concerned about rising inflation and higher interest rates. it's not evident yet. they are not in place. he gives that caveat, he does still say like myself there is room for ups and -- upside. key to all of this is earnings and the synchronized global growth. there is no wage growth. that's the biggest component of inflation is wage growth. you've got the ingredients for another good market. i know one of these days i will topple off my perch. you've got the ingredients, low inflation, good earnings, interest rat

mark: sometimes.d go the other way, too, where you have an idea and you have to back into a ticker that is available. a lot of tickers are taken. scarlet: i was thinking about solar etf's that launched the same day, and one did much better in part because the ticker was so smart. mark: i think it is an important part of the branding process. i think issuers understand that more and more every day. scarlet: there are 750 as it -- asset managers in the u.s., but only 100 issuers. there is a pretty big gap there. do you think more will get into the etf game? mark: we are a strong believer in the space. i think you will see the active managers jump on the etf train in the form of an etf wrapper. scarlet: will they need the seed capital? mark: they will, but the bigger firms will find themselves because of their size. traditionally, we are working with big, but also small and medium-sized asset managers. scarlet: good stuff. mark esposito, founder and ceo of esposito securities. coming up, we go inside the

i'm mark barton. welcome to "bloomberg markets." ♪ vonnie: here are the top stories we are covering from the bloomberg and around the world. u.s. stocks roaring out of the gates. , the first major overhaul in three decades. we look at the sectors most claimed benefits. then, u.k. prime minister theresa may set to give a major speech on brexit and 30 minutes. can she quiet dissent in her party? future is trading on the world's largest futures exchange . the cme. we're live in chicago to find out where the contracts are. that comes with much more. we are 30 minutes into the u.s. trading session the last monday before one of the major holidays. >> we are heading for the end of the year. that is the attitude today. all three averages at simultaneous highs. tied to optimism over the tax bill and the effect andould have on corporate stock prices. all three averages are reaching highs. the nasdaq has been lagging. we have a graphical look at this. the white lines are the times that the major averages closed

mark: live from european headquarters in the city of london, i'm mark barton.bloomberg markets." let's check in him first word news. emma chandra has more from new york. aired onsent trump is bridge ability on the tax cuts. both of agreed to cut tax rates from 35 to 20%, but now the president says the rate could be 22%. when the final bill emerges from conference committee. the kremlin is downplaying the importance of talks between president trump's former national security adviser and the russian ambassador to the u.s.. russian officials say michael did not influence president putin's response to sanctions imposed by the obama administration. flynn pled guilty to lying to the fbi about this discussion. calling singapore a haven for piracy. singapore by set-top boxes that allow on authorize streaming of movies, tv shows and live sports events. the group wants singapore's government to block the piracy software inside the boxes. director of the richmond federal reserve bank have chosen a new president. thomas barton, a senior executive at the global consultancy

comcast business outmaneuver. ♪ mark: live from bloomberg, i'm mark. european close on number markets. ♪ mark: let's check out today's top stories. u.k.ressure right back on prime minister theresa may. ahead of the summit she is facing pressure. can she hold her tory party together? then, in u.s. tech shares rebounding today after a last-minute change. we will look at just how rough it could get if the legislation is not changed. it has been smooth sailing for the most part for equities in 2017. next year could be a different story. we will tell you why there are 98 trillion reasons

mark: and from our european headquarters, i am mark barton.resa may's flagship brexit bill returns to the house of commons for its seventh day of scrutiny. it looks like the government might lose conservative pro-europeans. meanwhile, eu chief negotiator gave high praise to prime minister may for agreeing to the divorce terms last week. i personally want to say, in response to a member of commons, that the prime minister, theresa may, is courageous and respectable, and i certainly respect her. let's bring in bloomberg brexit editor emma ross thomas. the rebels with various concessions and promises, or will it not work? >> -- said i fear we have reached the end of the road, have been in they suggestions. he thought at one point they were making headway, and said he is going to push ahead with this amendment. what it does is it says basically, parliament has to have a binding, meaningful vote before brexit can be -- said today isay that the wording of the amendment would tie the government's hands and essentially make harder the smooth and order

mark barton. vonnie quinn in this is bloomberg markets. lower for the first time since 2016 on the pipe closure. futures extending their losses dollar is gaining. let's start with brent crude. is it having any impact on wti? >> we saw that it was up about $.60. right on the open around 8:00, it backs off sharply. i was disappointed. i think the long-term to breakions would be through 59 and then shoot up from there. trend traders are all looking for that is the way forward. the impact of this is 400-6000 barrels per day and you have caught their who output over to asia by 100,000 barrels as well. the reality is u.s. production should continue to build upward and that should weigh in on prices. i like tactical shorts on that market, selling call options up in the 60's and using that money to finance on the downside. and really with the news coming out, if bullish news does not make the market rally significantly, it tells you there is a problem with the fundamental story there. vonnie: are you swit

mark: i am mark barton. the u.k. eu have managed to unlock the stalled talks opening the way for negotiations to move on to trade, what banks and businesses have been looking for but officials warning that the toughest challenges are ahead. rbs chief executive ross mcewan spoke to us in an exclusive interview about the latest developments. >> this is the good news to come before christmas and be real conversation about how can we trade with the eu. that is the important piece and this is really good news for all businesses. >> they talk about a two-year transition. bank, withof a major business to do in europe, two years enough? >> two years will be enough as long as we get detail early. this misses like ours hate to move forward as if we are not going to get any form of deal that would be good for banking. we look at the worst scenario so that we can build a bank that works for our customers. if we get a longer transition and get the rules established, that is good news for us. we have had to move forward anyway. in

, i am mark barton. ame: from new york, vonnie quinn. this is bloomberg markets. time for futures. oil higher today after opec extended its production cuts to the end of next year, at least for now. we are joined by bob of past trading partners. why would this send oil higher? i thought it was priced in. bob: it was interesting. that whole thing was like a self rumor. sell the fact, by the fact, sell place it was all over the in terms of whether this was priced in or not. for me, this is an extension of the range. right now, it is all about shale versus demand. which can outstrip the other? opec was right in pointing out that inventories have been rebalancing, that we are still 13.2 percent above the seasonal five-year average in terms of crude inventories. a newsletter pointed out something i had not noticed. only 0.8% above gasoline. the crash spread has been coming in. that could reduce demand for refineries. you could see a price spike. that opec meeting -- what is the next thing you are watching for

mark?ark: it includes new curbs on how banks estimate the risk of more -- mortgages, loans, other assets on their books. they want to improve transparency. it is a big announcement. it has been a year in the making. these sweeping sets of rules in the aftermath of the 2008 financial crisis, to make the financial system safer. we will keep an eye on this. mario draghi is and is speaking. coming up kenneth moelis joins us for exquisite interview about tax reform, m&a, in the future of the global economy. this is bloomberg. ♪ ♪ mark: i'm mark barton. vonnie: the european close is just a few minutes away. i am vonnie point in new york. the republican party promised tax reform would be a two jobs, companies in the economy. how a corporate america respond when the tax bill is passed? erik schatzker is here with a guest. erik: on here with ken moelis, oneof his upon his firm -- of the best-known independent investment banks in the world today. great to see you. ken: good to see you. erik: you have

mark: a good chat. talksahead, mark mobius emerging markets and the outlook for china.will hear from him next. ♪ vonnie: live from bloomberg world headquarters in new york city, i am vonnie quinn. mark: and live from bloomberg's new european headquarters in london, i am mark barton. mark mobius, franklin resources chairman, he says the e.m. rally is likely to continue. he sat down with our own haslinda amin. mark: it is sustainable because we had three years of really bad performance against the u.s. market and now with the u.s. market leveling off, emerging markets are back. i expect we're going to see at least 20% more growth in emerging markets going forward because we have not surpassed 2007. that has to happen. haslinda: so not too late to get in. -- what riskke you do you see? mark: there are two risks we see from a macro globalist point of view. north korea. i believe the u.s. is going to take some action. that is a big risk. the other is the internet. the interruption of thethe intet and the global internet community, because you have these hackers that are goin

mark?ark: coming up with big gains in the markets, we will get an insight from the international cio of big thinkers at jade -- j.p. morgan asset management. this is bloomberg. ♪ ♪ vonnie: live, from bloomberg world headquarters in new york, i'm vonnie quinn. mark: they live from the european headquarters in the city of london, i'm mark barton, roughly 15ose in minutes time. stocks falling today ahead of the expected vote on the u.s. tax cuts. both votes. treasury yields are at the highest level in almost eight weeks. joining us now for insight on what to expect in the week .head, nicholas gartside thanks for joining us, and. you have a rosy outlook. nicholas: very much so. when you look at the global economy, for the first time in many years you have been -- the entire global economy growing above trend and the risk is that it is stronger, not weaker. laborwhen do tighter markets lead to wage growth? that's one of the big, some might say unanswerable, question out there. is thes: that mill

mark.ark: the fomc begins as policy meeting today as it makes its final monetary policy decision of 2017. with a hike certain, investors will be focusing on the outlook for next year. --going chair janet yellen after raising the fed's and smart by quarter of a percentage point. it is clear, it is done, tomorrow it is finish. next year is more interesting. the market is barely priced into the -- what is going to budge? i guess my main question is, does it really matter if it is two or three rate hikes? when global growth is a strong as it is? when there are a lot of other fundamentals playing in the currency market. if we want to talk fx, think it makes no difference for the dollar whether it is good to be two or three rate hikes. the dollar is -- which i think. mark: the recent rebound is the last. vasileios: i don't think it is going to last. we had a rebound back in september. that was pretty much a cleaning up short positions. it fizzled out and came to an end. in november we had a sello

mark barton.onnie: in new york, i'm vonnie quinn. mark: let's talk about brexit. prime minister theresa may and european commissioner president jean-claude juncker have just said they haven't reached a deal today. progress is possible this month. joining us now to discuss how all of this could affect the kumars is come all three -- cobol three kumar -- come all sri-kumar. we have to wait another day. how are you feeling about the possibility of a breakthrough by this big summit on december the 14th? >> in terms of what is happening the path istalks going to be long and winding. earlier today we were talking about march 20 19th coming and going and not having anything decided by then. tohink the pound is going remain volatile. is as we go over the next year and a half you're probably going to see the terms more european union to get good terms for britain and they would want to. you are looking at a pound sterling significantly weaker than 89 british sense or looking the dollar.on mark: significant

i'm mark barton in london.estival of central banks, we have the ecb to come, the bank of england, the fed here. down 1/5 of 1%. .uro, little change unchanged since the last ecb season, october 26. hasn't -- fallen to one dollar 1587 on november -- november 7. sterling up by 1/10 of 1% today. today, but it's politics that's affecting sterling today, having risen since fps last night. they're changing their government's planned legislation, so they guarantee they will get a meaningful vote on the final deal to leave the eu in negotiations for 2019. coming up today on "bloomberg surveillance," we will discuss markets with paul donovan, hear from the s&p governor thomas jordan. but get to bloomberg first word news with sebastian salek sebastian: the fed has raised rates by 25 basis points as widely expected. we also have a growth forecast next year, but maintaining projection of hikes -- 3 hikes in 2018. saiding chair janet yellen this underlines that the labor market will remain strong and eventually trigger highe

i am mark barton with vonnie quinn.re awaiting the culmination of the latest fomc meeting in a couple of hours. basic resources rising, utilities a little bit lower, down for the second day in three. the big data piece in the u.k. was jobs, shedding jobs at the passes paste -- fastest pace pay growth did accelerate. did lag inflation, meaning a fall in real terms is forecast to continue to 2018. the jobless rate at a 42 year low. that is because people left the labor force. that was data out of the u.k. we talked about the energy markets and i thought we would come back to the u.k. natural gas market, flows resuming overnight in europe after an explosion as it threatens supply. snap taking place across the continent. natural gas prices little changed, a little bit lower after rising as much as 23% yesterday, the most in a years. -- brenttruggling crude futures rising above $65 for the first time since june 2015. let's talk cyclical stocks. european stickel stocks are holding on to this year's gains, even as they u.s. yi

i'm mark barton. investors, waiting, chomping at the bit after the fed's announcement on interest rates a little later. an interest rate hike is forecast. 2018 the expectation for and 2019 that will be in focus. the bloomberg dollar index, in the wake of the alabama senate election, falling today. down by about 0.2%. crude rising ahead of key stockpile data. marketsp, we will talk with christian nolting. with lapos elkann and dennis gartman. sebastian: the european union againsted the u.k. rollback on the agreement they have made last week. michel barnier says britain cannot try to unpick the deals they made on friday. still, europe's leaders are planning to hand the u.k. a carrot for future relations. former french president francois hollande says he's is a possibility for britain to strike a trade deal, but speaking exclusively to manus cranny, he cautioned that there are certain red lines. eresident hollande: a trad agreement is always possible, but it needs to be clear that it can't happen at any

mark: always glad to see you.oombergn -- markets,", we are getting here why nothing is off the table white -- when it comes to brexit. this is bloomberg. ♪ ♪ partythe u.k. labour wants to allow second referendum if it wins. joe mcdonald spoke exclusively with bloomberg. we have to reach a traditional british compromise and bring both sides together. a compromise, which is to try to get the best we possibly can in terms of protecting jobs and the economy. market andthe single there are benefits. >> your position is evolving. you could possibility stay in the single market? john: as close to the single market as we get. >> could you rethink the policy and say why don't we stay in? john: the problem with staying is, is that it will not express our views for the referendum. there are issues around the four freedoms that have to be addressed. i think those issues will be addressed anyway, not just in the u.k.., but across europe. to have this relationship is the closest we can get to the market and that will protect ou

mark: a similar story.ichael flynn has entered a guilty plea in federal court in washington which has been confirmed. a guilty plea has been made. big market moves. haven playthe clearly, always in times like these which is rising against most of its major peers. we will keep an eye on this story. monetary policy, the challenges facing the bank of england among many central banks across the globe with the brexit process putting pressure on the u.k. economy. joining us is professor at the london school of economics and the deputy governor at the boe, charles bean. >> this could be an important development. mark: on top of the tax vote. you gave a lecture this week. there was some lovely questions. was -- are we passing through a time of purgatory before normal service is resumed? give me the answer. what did you mean by purgatory? >> the context is that we have seen this remorseless downward trend in long-term interest rates going back a couple of decades. post crisis phenomenon. to highpartly connected leve

mark: a great chart.ng david talked about yesterday or the day before about municipal bonds. with tax reform coming, on the horizon, municipalities and states are allowed -- rushed to get out muni bonds because subsidies extended to that party market or going to go away. we had a massive increase in the amount of muni bonds that were being supplied to the market in the last month from all the way back down to about $10 billion. david said the same thing, he thinks january and february are probably going to have pretty low issuance. pretty much the average for the year. see that on the bloomberg. mark: i like that. not every day we do municipal bonds, bringing something new to the table. a bit of a regional bias yesterday and i feel there is regional bias today. i like alexander's chart as well. bybias ever but alexandra the smallest of whiskers, i like the chart, i used it earlier this week. alexandra wins. vonnie: you give with one hand and take away with the other. congratulations. , moreo the president

mark? mark: it is tuesday. we are coming up on the european close.telling you what is coming up. the dax is lower. the cac is lower. investors are awaiting the outcome of the tax dealings in the united states. 33 minutes until the end of the day. ♪ >> it's 11 a.m. in new york, midnight in hong kong. from the european headquarters in the city of london, i'm mark barton. vonnie: this is "the european markets--" on bloomberg . ♪ hero the top stories we are covering from the world. in politics, michel barnier is holding a fine line on brexit and catalonia's holding its first election this week. we are live in barcelona and in brussels. in markets, what's the credit outlook for next year? jpmorgan will tell us why his favorite european bank capital in u.s. high-yield is. coming up, and interview with craig fleming, chief executive of rockefeller capital. he talks about baseball, building a business, and the current state of wall street. 30 minutes until the end of the tuesday session.

>> martha: mark? >> the only possibility, his only defense of getting off of this is saying it was accidental. it doesn't matter if he looked at kate steinle in the eye and said i will kill kate steinle. he didn't know who kate steinle was. he was trying to kill somebody and fire it into a crowd, that's second degree murder as mark said, but it's murder. the city of san francisco, anyone who supports some kind of daca fix or changes in immigration better hope this guy gets convicted and deported. it's going to roll the debate in washington over all of the immigration issues coming up if this guy gets off from this. >> martha: mark, go ahead. >> i can't envision -- maybe one knucklehead on the jury who said the gun not off accidentally. i don't see a unanimous verdict where all of them in light of the victim's father's emotional testimony. i tried over 150 jury trials. the worst thing when i am defending someone is the emotional testimony. jurors through a not guilty verdict would say to the father i w

. ♪ mark: i am mark barton. quinn. i am vonnie this is bloomberg markets.e now for futures in focus. crude oil rebounding. it is beginning to sell off a little bit again. foru.s. dollar is advancing a fourth straight session and is now at a two-week high. discuss is a senior market strategist of trading advantage. what is going on here with oil? it is hard to know which direction we are headed. >> yes. week of thelast itc extension, i looked at more of a buy the rumor sell the news type of scenario. had a big run-up, the had a bit on the opec decision. it is what is happening here in the u.s. inventory data yesterday. 74 million barrels per day production u.s. crude, one of the largest we have seen. just continuing on the rise. ill keep a lot of pressure on the price of oil. vonnie: does the incremental rate have an impact on the price of oil's everyday? on a day-to-day basis. if you get a pattern over a few months, what really stood out was a 9.7to me million barrels per day. opiniony is in my again, it will really put a lid on oil prices. impactinghening

mark? guy: -- mark: let's chat about the markets.loombergg in strategists. >> it is probably a lot of information. it is a domestic matter, but it is not really an existential threat to the euro region itself. the and -- news in the currencies are modest where is spanish stock will take a little jolt. matt: when you talk about currency, there is only one i can think of today, and that is bitcoin. drop.n incredible the biggest percentage drop this year today. more than 18%. i am looking at a one-month chart. the currency really rolled over. year-to-date.200% i'm sure anyone long the currency is going to be worried. paul: if they bought it in the last three days, they are underwater now. what do you make of this incredible move? paul: like you say, it is incredible move -- it is an incredible move. there was a lot of excitement in the press in general yesterday. it coin mania or -- bitcoin mania had companies changing their names, incorporating the name bitcoin and climbing 300% higher. there is a lot of froth and excitement around it,

mike: hi, mark.t might chart shows is that goldman sachs came out with their economist reactions to the tax cuts, and they raise the gdp forecast and lower the unemployment forecast. what struck out to me is that they raised the forecast for the size of the u.s. federal budget deficit. if you look at this white line at the top here, goldman is expecting the deficit to swell to 5% of u.s. gdp by 2019. then you look at the dashed red line, you see how rare it is for the deficit to be that big. the last 2 times it is have it it was coming out of recession. the rescission of the early 1990's, and then the 1980's. i very rare occurrence for the deficit to get that big. the blue line is treasury yields. certainly the deficit plays a big influence on the yield of treasuries. the wider the deficit goes, the more treasuries are issued, the higher the yields tend to go. you can see the disconnect after the last recession during qe. if you want to make a case for higher rates in 2018, 2019, that ballooning budg

mark garnier was also under investigation.rmer parliamentary secretary claims that back then he had used an offensive name with her, and that he asked her to go and buy six toys. that's why mark barnier was under investigation. that has come back today. the enquiry found that while it was not mark garnier‘s intention to make the member of staff feel uncomfortable, that was the result. mark garnier has since apologised, and the prime minister's view is that a line should be drawn under the issue. perhaps not the same serious level of consequences we saw with damian green, but another outcome of this six scandal that has engulfed westminster over the last few weeks. thank you very much. very quiet weather in the run—up to christmas, which is good for people who have travelling to do. the best of the sunshine across scotland today. the many areas, we've been stuck under rather grey and gloomy skies, not much sunshine around at all. but it's mild. we have mild air because of the position of the jet stream, to the north of the uk,

mark: sometimes.he other way, too, where you have an idea and you have to back into a ticker that is available. ofot of takers -- a lot tickers are taken. scarlet: i was thinking about solar etf's that launched the same day, and one did much better in part because the ticker was so smart. mark: i think it is an important part of the branding process. i think issuers understand that more and more every day. scarlet: there are 750 as it managers in the u.s., but only 100 issuers. there is a pretty big gap there. think more will get into the etf game? mark: we are a strong believer in the space. i think you will see the active managers jump on the etf train in the form of an etf wrapper. scarlet: will they need the seed capital? mark: they will, but the bigger firms will find themselves because of their size. traditionally, we are working with big, but also small and medium-sized asset managers. scarlet: good stuff. mark esposito, founder and ceo of esposito securities. coming up, we go inside the etf wo

mark: i am mark barton here in the city of london.et to the latest in catalonia from the independentist party. presidenttalan demandingigdemont is to allow him to end his self-imposed exile in belgium. will rajoy listen to the demands made by puigdemont? >> good afternoon. we are getting reaction from a very bad election night. rajoy took a bet that did not pay off. they are going to have to clearly do some soul-searching in catalonia. ajoy insisted that there is always room for dialogue. that also means respecting the sovereignty of the country, in contrast to what puigdemont is saying. the big winner of the night did well yesterday, saying he has earned the right for a conversation with rajoy. but he wants to do it outside of spain. clearly he is worried about what will happen when he comes back to spain. he could be imprisoned for up to 30 years. the bigs, puigdemont is victory of the night, but the pro-separatist are not exactly united behind a strategy. what strategy will they pursue when it comes to independence or their next st

mark: gentle and, stay there.next, starbucks is getting ready to open the world's largest cafe in china. does the company have the same allure for businesses? this is bloomberg. ♪ mark: you're watching bloomberg surveillance. >> deutsche bank has received payment from robert mueller, reminding lenders share data on the relationship with donald trump. this up in a weeks ago obliges germany's the gets letter to some -- present documents about donald trump and his family. previously, they rejected that. they said it would be illegal unless they received a formal request to do so. it fors agreed to buy $3.6 billion to expand into the biggest movie arc it. it comes after the news report and take over. 26%price represents a increase. late-nightast changes, some republicans may mean higher taxes for corporations. the tax bill will preserve the 20% corporate tax. on the senate planet, they could prevent companies from making withf planned tax breaks intellectual property. want isese can graham the largest shareholder in d

mark farrell: no one tolerates fraud. announcer: san francisco supervisor mark farrell proposed a new law to fight illegal evictions. the changes would make it easier for the district attorney's office to file criminal charges against landlords who wrongfully try to kick out tenants. mark: it was the great work of nbc that really turned up the volume, i think, to really talk about and identify and expose the amount of fraudulent practices that is happening in this area. announcer: nicole delisi was only paying $1,450 per month for her one bedroom apartment, so she says it was clear her landlord could have made a lot more money by renting to someone new. nicole: the people above me that had recently moved in were paying over $3,000 for the exact same unit. i wondered if there was any ulterior motive. announcer: so, to find out, nicole's only option was to sue her landlord, which meant her attorney got to question the brother-in-law to see if he really was going to move in. male: i don't know anything about it. announcer: neither he nor the landlord would talk to us for our story. but w

i'm mark crumpton. this is bloomberg. ♪ live fromlia: bloomberg world headquarters, in julia chatterley. scarlet: i'm scarlet fu. joe: and i'm joe weisenthal. julia: all we have to talk about is bitcoin. joe: but the question is "what'd you miss?" where is the wage growth? across the pond, theresa may managed to secure a late-night break the deal, but that does not mean it is smooth sailing. brexit deal, but that does not mean it is smooth sailing. from the west bank to jakarta. "what'd you miss?" added 228conomy thousand jobs in november, more than expected. all of this before the fed's expected rate hike next wednesday. so, let's bring in deutsche bank's chief international economist torsten slok. sten, i know you slaughtered this is your number one risk. we have been waiting for this for so long. s as know you slotted thi your number one risk. we have been worried about inflation for a long time. the wolf has not arrived. we do think the most important factor is the unemployment rate should be at 4.1

[applause] and mark left his mark on this library. and so many different ways, the highlight probably is -- the civil rights summit this 2014 in which we had not one, not two, not three, not four. but five presidents president carter. president george h.b. wush clinton, george w. bush and president obama all were on it this stage never in the history in the history of this country -- have there been five presidents in a subsidy program anywhere any time for any reason mark made that happen and it is the hall mark of the success that he had here and then last year in 2016, the vietnam war summit, was a program that was comparable to the one he did on civil rights. i have said i think or there are rare are few feel in the world that are had visionary. they're creative -- and know how to come u up with an idea that's new and different. they're also a small number of people who know how to implement an idea and program and those are normally two different people. mark is both. he knows how to come up with a whole new creation and then kno