let's listen in to mark carney.d afternoon and welcome to the february 2018 forecast conference. to my far right is the deputy for monetary policy. to my immediate right is the governor mark carney. >> thank you, gareth barry good afternoon, everyone. it's been a notable week for anniversaries. monday we celebrated the centenary of women getting the right to vote. today marks a quarter century since the first inflation report. the style of the report has changed over the years but our commitment to explaining monetary policy independently and transparency has not. i wanted to spend a minute or two to go to the future that is painted through this report. i will start with the world economy. one university to acknowledge the strength of the world economy, global growth is stronger, broader, and healthier than it's been for some time. global growth is at its fastest in seven years, 90% of the world economy is now growing above trend and the global expansion is increasingly being driven by investment. you gain the trade

. -- interesting dynamics around sterling with employment and wage data with mark carney testifying andews about brexit geared -- brexit. and the u.k. and their view on the transitional deal. we ceos move lower -- we see yield move lower in the core and periphery. thematic chart that i got from marcus ashworth. spain and the u.s.'s 30 year yields rapidly diverging. front and.at the -- end. the final chart, i mentioned the euro, after flash pmi data on the eurozone coming in weaker than expected. the euro off slightly and approaching its trendline since mid-december as momentum appears to be favoring losses. we like to watch the technical charts. >> in the u.s., the major averages trading higher with the bulls out and the dow, s&p 500, nasdaq all solidly higher after yesterday's bearish intraday volatility. a reversal to the downside but buyers back today. the transportation average up 1.8%, the best day in more than one month which has to do with strength in airplanes and trains. individual movers trading higher, alaska air, american airlines come union pacific, kansas city southern, no

i half hour later, we will hear from the governor, mark carney.ll he say about the strength of the pound and market expectations of rate hikes? oning up, china's trade data exports held up despite the stronger you want and rising trade tension with the united states. we will have analysis of the data in the strength of the import story is interesting. that's next. this is bloomberg. ♪ morning, "bloomberg daybreak: europe." it's early in the morning, 1:46 over in new york. futures higher, up .2%. we've been all over the place .ith u.s. futures negative territory and then into positive. drop down to the flatlined, now back in positive territory. china's overseas shipments held up in january despite the stronger you want and rising trade tensions with the u.s. all income growth smashed through estimates. imports increased yearly 37%. black who to jeff joins us now. good to have you on the program. what do these numbers say about global trade? let's start with the big picture. >> good afternoon. there's nothing in the trade report that would contradic

so does mark carney. as you pointed out, these forecasts, the fact that they have seen stronger growth this the before they did in forecast on inflation, it's all subject to change depending on what happens with brexit. , -- mark: nejra, great job. results and for some insight into the european bank, top banking executives, talking about the executive first. here have's -- here are some that has spoken. >> yes, i'm positive overall. i'm pretty considered that it will be on the turbulence of the markets. we have good growth prospects in particular in europe. what do we see? a bit of a movement on the longer end of the curve. our expectation is that we will likely see no movement on the shorter end of the curve. in the medium-term, the real economy is stronger, much stronger in europe than in other parts of the world. and in italy, the fundamentals are strong. not only are they looking at demands, but investments. that is the story of fundamentals being strong. joining us now, our europeaneditor for markets

is how mark carney will manage that in the news conference.uy: sterling is strengthening, how is he factoring that into the models the bank has? as you say sterling did have a strong start to the year particularly in january. you cannot just look at it against the dollar. also on a trade weighted basis intohey will take that account. last week mark carney appeared before parliament and he gave some sort -- what some interpreted as a upbeat view saying that he was shifting or the bank was shifting from tackling brexit to looking at inflation. where themewhere strongest sterling could feed and but it always comes in with a bit of a lag. matt: thanks ray much. -- very much. standing outside the bank of england on the super thursday. we will bring the decision and an inflation report. some data that you do not want to miss. we will hear from the bank of england governor, mark carney. we bring you that live as well and there will be a to you live -- tliv . we will take a look at the stocks that you need to watch at the open. a lot of things tha

and we will hear from mark carney.d at jpmorgan asset management and jeremy stretch of cibc. jeremy, the biggest concern of the bank of england as what the pound does, that will move inflation in one direction or the other. does ago two 1 -- does it go to 150. upi do not think so, we end moderately higher than now but the pattern is volatile because the value of the currency is susceptible to political dynamics and those will remain remarkably uncertain to the foreseeable future. i would not be surprised to see a correction and then go back to the low to mid 140's. that the do you think u.k. economy and u.k. assets can handle one or two hikes? >> certainly, one, the global backdrop remains strong, still a trading economy, and the rising tide will lift the boat. another rate hike is manageable. the bank is in a difficult position. i do not think they will signal today that it is absolutely coming. tom: uncomfortable questions for governor carney about market volatility. how will he answer the question that has to be ask

mark carney is testifying in a couple of hours.on report. the french numbers along with the german numbers. the u.k., it's all a been to be about the unemployment numbers. we've come off the lows in the u.s. futures. to be about which dog in which lead is guiding the markets. is it the bond market or the u.s. equity market? . u.s. turning around a little bit. ofo picking up a little bit upward momentum as we have gone through the session. china is still out. when of the biggest things markets are digesting is the big issuance of short dated treasuries. here is the u.s. two-year yield. it is the highest since 2008. this is the path of the curve we were talking about. does it continue to tempt in international buyers? do to the cost of holding stocks? how do you balance equities and debt in your portfolio? big questions to deal with this week. by nine tens of a percent. it was down by more earlier on. it hit a two-week high in yesterday's trading. there is talk of fading the global glove. talking about $60 a barrel for the rest of th

mark carney discusses you k's treasury committee later.decisions and the policy going forward. and the finance minister is going to be present in the national budget for the coming year. with the transition into the a era, i'm sure moody's will pay attention. let's talk about what is happening with the bank of england. the government will testify later. we are joined by the markets editor. carney has a little wiggle room. you highlighted this chart earlier. rake evens come down and sterling a little, that gives a little optionality. >> absolutely and that is the spot carney wants to be in as they possibly embark on another set of rate hikes this year for the boe. as a central banker, i can imagine he doesn't want to be backed into a corner and be forced to raise rates if the economy doesn't warrant it or is not in a condition to handle it. are respondings broadly to what the boe is saying and taking that into account is good news. guy: the market is already doing it for him. kristine: absolutely. markets are doing the heavy lifting for him

the bank of england governor, mark carney, in a press co nfe re nce england governor, mark carney, ine, they need to think that the cost of that mortgage, the cost of that borrowing will increase slightly more quickly than maybe it was thought at the end of last year. nothing huge, we are at 0.5%, before the financial crisis, incest rates at level, almost unheard—of. —— before the financial crisis, interest rates at that level were almost unheard of. there is going to bea warning, almost unheard of. there is going to be a warning, from the governor, that households need to be thinking. we have had this since the financial crisis, coming to an end. global economy getting stronger. therefore, monetary policy, interest rate policy, to control inflation... global growth increases inflation, increases price rises, interest rates used to control the price rises, to call down economic growth, those interest rate rises are going to come slightly more quickly than expected and slightly more often than expected. nearly all of local councils in england are planning to raise their council taxes i

very get anything on this from mark carney?uestion, hints on whether we could see a rate increase may be as soon as may. that is what everyone is watching for. thank you very much for being with us. daniel katzive is staying with us. sad breaking news. the reverend billy graham has passed away. he was the noted worldwide evangelist who had rallies around the world since the 1940's. he was close to several presidents including truman, johnson, and nixon. he was a close spiritual advisor. i actually met him a couple of times. i grew up in a church in click, michigan where the pastor had worked with him. alix: 99, died at his home in north carolina. , peacefully. david: we will have much more on this. this is bloomberg. ♪ alix: this is bloomberg daybreak. i'm alix steel. wait and see not but the tone is more optimistic heading into the minutes as well as the fog i got auction. dow jones off by 1%. s&p futures slipping into positive territory. european stocks a touch this -- weaker. sterling continues to get hit after it's unemploy

mark carney accepting a crisis will happen is the best way to prepare.ies in sweden concerned the economy is moving too fast. the report is expected by the middle of the year, but a parliamentary committee set the demise of cash would make it hard to maintain the infrastructure for handling money. president trump has offered support for strengthening of background checks on gun buyers. since taking office 13 months ago, the main action the president has taken is to block an obama administration rule designed to keep weapons away from mentally disturbed people. has repeatedly stressed support for gun rights and the nra. the winter olympics have seen new sporting records and the creation of the world's darkest building funded by hyundai and created by a london-based architect. the building is is armed with a material that can absorb 99% of all light hitting its surface. buildingtect says the represents positivity and sense of opportunity. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. . am haslinda

bank of england governor mark carney says he is already bracing for the u.k.'next financial crisis. while admitting no central bank can't eliminate risk, he says the boa is creating a more secure defense by preparing for bank failures, providing extra liquidity, and ensuring higher capital. carney says expecting a crisis will happen is the best way to prepare for it. president donald trump has endorsed former republican presidential candidate mitt romney for a u.s. senate seat in utah. the move sets aside long-standing differences with one of trump' party criticss as the gop looks to preserve its narrow majority in the chamber. romney, a former governor of massachusetts, announced on friday that he would run to succeed senator orrin hatch, a strong trump supporter who decided not to seek a third term. the latvian prime minister says he will try to prevent a councilmember from returning to his post when he was caught up in a bribery probe that rocked the nation. he's also led the latvian central-bank from 2001, but faces suspension from his job as a security mea

but the bank's governor, mark carney, said that increasing growth in the year ahead meant that actionld be needed to control inflation. the pound surged leapt in value against the dollar, as our economics correspondent andy verity reports. if the whole economy performed like this manchester maker of branded clothing, its biggest problems would be almost solved. it's growing fast, exporting to europe and boosting productivity through investment. and while inflation caused by the weak pound boosted its costs, it's been able to absorb out and carry on winning new orders. the last 12 months, we've grown by 20% in the uk but europe has been much stronger than that, so we have more than doubled the growth rate in the uk. i'm cautiously optimistic about the future. we are making major investments over the next 12 months in technology, which will allow us to increase productivity and efficiency, and improve quality and service to our customers. the key to this company's competitiveness is speed. coming up with branded products much faster than if you ordered them from china. the speed of grow

mark carney bracing for the next financial crisis. no central bank can eliminate all risk. e -- ensuring higher capital levels. carney says accepting a crisis will happen is the best way to prepare for it. deutsche bank is said to be eliminating jobs around the world who keep a lid on expenses. to hundred 50 positions have gone. the number could top 500. trading slumped 27% last quarter, combined with self-admitted generous bonuses, pushed the business into the red. the latvian prime minister said he will try to prevent ecb governing council member ramsovic from returning to his post after he was caught up in a bribery probe. he faces- suspension from his job as a security measure following his suspension. he says he plans to hold a news conference today. for millennials living in advanced economies, the boom have turned to bust. people in their early 30's have household incomes 4% lower than members of the preceding generation at the same age. the think tank says the heldncial crisis has helpe millennial's back. powered by more than 2700 journalists and analysts in more tha

kathleen: in terms of what has been going on, it is mark carney speaking for the bank of england, billudley speaking from the new york fed. playing down that hikes could go faster in the u.s. three hikes seems like a reasonable pop. i think he was trying to calm the markets. ish the drop in the s&p 500 making it a full-fledged correction. not a bear market yet but a true correction. interest rates could drag down growth. it has been the trigger for some of selling. >> the charts say we are going lower. the message from wall street. when we talk about a white knuckle ride, the 1000 point drop in the s&p 500. what we are looking for is breaking through the moving day -- the 100 day moving day average. that drop was like a slice. it went to lower lows. technical analysts tell us it foretells a very bearish selloff ahead. when you slice through the 100 day moving average, it means there are no buyers. let us go into the market snapshot. you saw a lot of red on the screen with the dow and the s&p. what you have is some green in the safe haven areas. oil is not a safe haven. also taken some

today interest rates were left on hold — at a half of one per cent — but the governor mark carney saide needed to restrain inflation as our economics editor kamal ahjmed reports. stitching together a better story on the economy. orders for this firm in manchester are booming, and it's a story repeated around the country, leading to a positive assessment from the bank of england. the last 12 months we've grown by 20% in the uk. europe has been much stronger than that and so we have more than doubled what the growth rate has been in the uk. i'm cautiously optimistic about the future, we are making major investments over the next 12 months. for the governor, there was a simple reason for the better news. 90% of the world economy is now growing above trend, and the global expansion is increasingly being driven by investment. uk net trade is benefiting from this robust global demand, and the past depreciation of sterling. the economy is heating up, and the threat of interest rate rises to control inflation has increased. governor, this is a warning on interest rates, that they are likely to

europe by ministers will ball come and get minutes from the fed, the bank of england, and governor mark carneybe addressing the committee. i had any mail about the issuance coming from the treasury, specifically t-bills. is there going to be insatiable demand the treasury needs as they wrap up issuance in the coming months? i doubt that very months and looking at the short and is going to be important because you have supply from the treasury and you have also got companies that are now using their cash. out, they are in dollar investments but in short duration investments, so when those holdings that sold, those yields will be a lot higher. it means the short end is going to be where the attention should be. jonathan: jeff rosenberg, your thoughts? kathleen, agree with because the repatriation, and your broader question, we are going to have this theme for a while, a lot of issuance to come. it is not so much that the man the demand in price, where will issuance and up? we are talking about the curve impact, if is focused to the front of the curve. jonathan: to wrap things up, rapidfire aroun

we get a rate decision from the bank of england with mark carney delivering that.livering his report -- the annual report, and annual earnings including tesla, and the potential for another u.s. government shutdown, which most of us have become desensitized to this point. we were talking about central bank decisions before the break, and what it means for peripheral europe and the ecb. the 2019 story, who runs the ecb next? i'm surprised by how governor kuroda is to the bank of japan. the next person who takes over for mario and draghi has big shoes to fill. so you're hoping it is a german text the top spot? >> i think that may be the case. it is a selloff environment for european bond yields that have been anchored by the ecb program, by lower yields. there is a different cast of characters and we are trying to make expectations based on what they are telling us. set andwhole different it could be a whole different ecb next year. do you react to that, should you respond to that? >> not immediately but i think there may be a shift in focus. much like it has been a

coming up over the next week, we get a rate decision from the bank of england with boe governor mark carneyivering that. european parliament, his annual report. we get another round of earnings including tesla, and once again, there is the potential for another u.s. government shutdown, which most investors have become desensitized to at this point. with me now is lisa, kevin and eric. lisa, we were talking about central bank decisions before the break and what this means for peripheral europe and the ecb. one thing that people have not started thinking about in a big way yet and rightly so because it is a 2019 story, is who runs the ecb next? i'm surprised by how governor kuroda is to the bank of japan. the next person that takes over from ecb president mario draghi will have some big shoes to fill. when you start thinking about the ecb post-draghi? lisa: i told you i am short btp's. jonathan: so you're hoping it is a german who takes the top spot? lisa: i think that may be the case. it is a selloff environment for european bond yields that have been anchored by the ecb program, by low rat

well all fairly wherry of cryptic currencies we've heard from the governor of the bank of england mark carney he said that essentially they have failed why is he said that why they so wary explain that a little bit for us well i mean if you look at where bitcoin was at the end of last year you know mid december are eighteen thousand you know dollars and some point and today we're talking about it being under ten thousand dollars that is not what the currency does you know if you put your money if you paid in bitcoin in december basically what you were paid in december would be half what it was you know you know and it's really disappointing for investors and that's the reason governments are really wary they see that they need to put protect consumers and that's the reason why this is all about protecting people on the streets who've also been turning to bitcoin because they think they can make a quick buck basically it's incredibly volatile a bit coin remains popular but we're seeing a whole host of other digital currency spring up so what next. thing is going to remain you know all the rage

mark carney says capacity is a key challenge. path for rates going forward. , ande reiterating go courtney for your viewers, that these are interest rate cycles unlike those they would have expensed in the past. >> global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen. this is bloomberg. still ahead, sports this diplomacy. next, it's all about the selloff across markets. should traders base for more pain to come? we will discuss that next. this is bloomberg. ♪ >> this may be a short episode hand this might in the in a few days, i week, nobody really knows, i doubt this will be the volatility inf 2018 because we have exchange rates shifting as adjustment to monetary policy. >> a fascinating move in the treasury market. when we see a significant correction and equities, we would expect a flight to quality on the treasury side. , and itot happened suggests there is a feedback loop that is undermining risk assets has treasury's selloff. once volatility comes out, it

governor mark carney will be addressing parliament committee.h me, jeff, kathleen and nick. about the amount of issuance coming from the treasury, specifically t-bills into next week. kathleen, will feel be the insatiable demand for treasury needs as they ramp up issuance in the coming months? kathleen: i doubt that very much. looking at the short end is going to be important. you have supply from the treasury. you also have companies that are now incented to use their cash. they are already in dollar investments, but they are in short duration investments. when holdings start getting sold, those yields will be a lot higher. i think it means the short end is going to be where the attention should be. jonathan: jeff rosenberg, your thoughts? jeffrey: i agree with kathleen, the short corporate trade and theme is a big one, the impact in terms of repatriation. in terms of the issuance and your broader question, we are going to have this theme for a while, a lot of issuance to come. it is not so much the demand, but the demand at what price? where w

. >> mark carney, i think you wanted to say something on this. >> you want to speak structural so i'll try to concentrate there. i'll start with the cyclical point which is that we should be seeing a pick up in productivity, particularly with capital deepening. but another factor in the cyclical sense that leads to structural, we have had up until very recently quite low job churn, particularly in the united kingdom, and part of the difusion process in their new application and learning at one firm and moving to another firm and setting up a new company. so we should get that, and particularly at a time of great innovation, that's where you get the productivity pickup. as you're well aware, and you've written on this, we have a very long tail in most of our economies of quite substandard firms. i think that's one of the elements of it. it then goes to sort of structural policies, but the elements that facilitate people to move up and set up new firms. last point on structural, which is around trade. i entirely agree with christine's emphasis there and sharing the gains of trade, and on

philipp: i used to be with a couple of others, mark carney.ways be the youngest in the room. i now notice -- i told larry recently about the last year or so when i'm standing in the elevator on the way up here in london, or in new york, in our offices, i am beginning to realize i am kind of amongst the oldest. oldest. so i am beginning to think about that. i can certainly imagine being at blackrock. i think we, we have a tremendous five years ahead of us, in terms of change, challenges, and other than that, you have to -- i have learned in life, you have to be prepared for surprises, and then react accordingly. but i can certainly imagine still being at blackrock talking to you about how things have changed five years from now in asset management. francine: hopefully more than in five years. philipp, thank you so much. philipp: thank you. ♪ ♪ emily: this is the best of bloomberg technology. we will bring all of our top interviews from this week in tech. here is our deep dive into help to get more women into tech. a former ceo will join us. and

then we have mark carney giving his press briefing on the forecast and i think markets will be looking england are going, how quickly they will try to normalise policy. but of course, there is that elephant in the room, relating to brexit negotiations which will have an impact. how much guidance can you give, given the elephant in the room? everything has to be qualified. i think if you could have excluded the brexit story, i think markets would be discounting a reasonable possibility of a hike. in may, when we get them max forecasts. looking at that sort of timing, i think it's far too ambitious. i think if we look at the deterioration or reversal we have seenin deterioration or reversal we have seen in the indices this month, showing a slight moderation of activity at the start of the year, i think it makes sense for banks to say, yes we would like hike rates and we will over time, but i think we have to be cautious and prudent. what about the european central bank, to what extent do you think the outcome of the german coalition talks will affect, have an impact on those discussions

england governor mark carney says interest rates may need to rise at a steeper pace than initially thoughtoverheating. he lifted forecasts. he says inflation is likely to stay above the 2% target. carney says capacity is a key challenge. >> we will not tie our hands to a specific path, with rates going forward. we are reiterating, though, for your viewers, these are interest cycles unlike those they would experience in the past. >> facebook admits they cannot catch every fake news on its site. they give evidence to u.k. lawmakers, the rising global pressure to take more control of their once freewheeling platform. facebook, google and twitter repeated pledges to promote better quality, -- content. a new study says criminals are ditching bitcoin because it has come -- but, more expensive and inefficient. most widely used cryptocurrency is likely to lose its dominance on the dark web to lightcoin and sah. it is accepted by 1/3 of shadow lenders. economy has reached a significant milestone, a judge ruling grubhub employees are contractors and not employees. such workers do not qualify for sta

today, interest rates were left on hold at a half of 1%, but the governor mark carney said action would restrain inflation, as our economics editor kamal ahmed reports. stitching together a better story on the economy. orders for this firm in manchester are booming, and it's a story repeated around the country, leading to a positive assessment from the bank of england. the last 12 months we've grown by 20% in the uk. europe has been much stronger than that and so we have more than doubled what the growth rate has been in the uk. i'm cautiously optimistic about the future, we are making major investments over the next 12 months. for the governor, there's a simple reason for the better news. 90% of the world economy is now growing above trend, and the global expansion is increasingly being driven by investment. uk net trade is benefiting from this robust global demand, and the past depreciation of sterling. the economy is heating up, and the threat of interest rate rises to control inflation has increased. governor, this is a warning on interest rates, that they are likely to come earlier

mark carney has been so far reiterating that the boe doesn't beent to a precise and has saying rate increasesill be somewhat greater and somewhat sooner than the market expects. yield movingilts lower by two basis points. this is bloomberg. ♪ vonnie: this is "bloomberg markets. back with the cio of global from newportins us beach in california. a lot of events happening today. auction. five-year that has been a part of the curve. what will happen today especially given yesterday's mixed auctions? especially given yesterday's mixed auctions? >> the market has really backed up significantly ahead of these auctions, markets tend to be forward-looking. minutes will probably see especially given yesterday's mixed auctions? >> the market has really backed up significantly ahead of thesee fed acting more reciprocal. they will talk pretty positive about the economy and real growth and financial conditions. in terms of these, we are getting to a point where bonds are starting to look a lot more exciting and real yields are positive when you take out in nation. i think we're getting to a point in the u

bank of england governor mark carney addresses the treasury committee.ly, south africa's finance 2018-2019resents the national budget. this coming after the former president step down. yousef: let's bring back tim fox. we were talking about where you would like to start. use of the start of the ecb. with the together a chart on what has been happening with some of the central banks. in terms of most missing their inflation target, you have the fed, the ecb, and the boe. what is it about the ecb that you would say watch out for that? is it the longer-term growth protection of the back of a stronger euro or is it changes at the top level with the possible vice president change? tim: the vice president change will send a signal into the future. he is due for reappointment later this year. the context around that discussion will be interesting and how the earlier will determine the biases and preferences as we think about policy further out. growtheen supportive of and taking less of a concern about the inflation side of the ecb. you can see that on this cha

bank of england governor mark carney says he is already fighting the u.k.'s net financial crisis.ng that no -- can eliminate the risk of future crisis. he said the boe is creating a secure defense by planning for a bank failures, providing extra liquidity and ensuring higher capital levels. he says accepting a crisis will happen is the best way to prepare for it. in sweden ares increasingly concerned that the no cache economy is moving too fast. they are carrying out a review of the pace at which the physical money is retreating, and at the likes of digital payments. a report is expected by the middle of the year, but a parliamentary committee has a ready said the demise of cash could make it hard to maintain infrastructure for handling money. the winter olympics has seen the records and at the creation of the world's darkest building, anded by 10 day -- hyundai the markets covered by a new can absorbhich almost 99% of all light hitting at. the building symbolizes purity, the universe and a sense of positive opportunity. global news 24 hours a day, powered by more than 2700 journa

. —— mark carney.n three—quarters of local authorities are concerned about financial stability. january was one of the worst months on record for hospital waiting times in accident and emergency departments in england, according to official figures. mps have called for a new code of conduct to tackle bullying and sexual harassment at westminster. and the freemasons in england and wales say ‘enough is enough‘ when it comes to unfair treatment of members — we'll be hearing from the head of the united grand lodge in a few moments. sport now on afternoon live with hugh. the action is under way in pyeongchang and there's another accolade for lizzie yarnold to accept... another great moment in the career of lizzie yarnold mbe — a gold medal at sochi four years ago — the defending skeleton champion — is looking for another piece of british sporting history on the course — off it though she is guarateed more sporting history — after being named as team gb's flagbearer for the opening ceremony tomorrow. and she

mark: mark carney yesterday, bound to consents the hold off on his message? >> this is 9-0. they made their decisions two weeks beforehand. this is anything they could have held off. he chose not to. this is a committee response. it is poor timing. it has not helped. mark: inflation next week is the big one, next wednesday. he is all booked then. -- in. the pains becoming more normal. in on the first word news with courtney donohoe. has signed atrump two-year budget deal ending the shortest u.s. government shutdown on record. hours after the partial shutdown again at midnight, the house passed a two-year budget bill that raises federal spending by almost $300 billion and puts the death of -- debt ceiling on hold for one year. rand paul earlier padlocked a senate vote for hours, he was unhappy about extra government spending any measure. the sister of the north korean leader has shaken hands with south korea's president. it took place at the opening ceremony of the winter olympics. she is the first member of the dynasty that rules north korea to officially visit the south and

it does seem they are taking their cues mark carney, who is passes first appearance in public this yeareels like monetary policy is becoming more traditional in a sense they can move on to focus and targeting inflation, rather than trying to run -- walk a fine line between inflation and growth. mark: thank you for joining us. the markets reporter for bloomberg news. vonnie: let's check in on the first word news with courtney donohoe. >> the u.s. job market was on a role last month with employers adding a better than expected 200,000 jobs in january and wages rose at the fastest annual rate since the recession ended. the on employment rate is 4.1% which matches the lowest it has been since the year 2000. in london, a far right supporters who drove a van into a crowd of worshipers outside of a mosque as incentives to at least 43 years in prison. his attack last june killed one person and injured 12 others. is alled friendly fire growing risk in syria where american troops are embedded with kurdish forces that could come under attack by turkey. both turkey and the u.s. say they are talking

does that deter what many say it will be a hot this message that caucus -- hawkish message from mark carneyaround to present in the u.k. and the risk of that is to the upside, not downside. because the u.k. is higher by much stronger global growth. when you look at the bank of england this week, they should eing up the rate hike, arguably the first of two this year. in november, the end of the year. u.k. rates look way too low, given the economic backdrop. mark: thank you for joining us, nick gartside at jpmorgan asset management. vonnie: let's get the first word news with courtney donohoe. senateapitol hill, negotiators are coming up with a long-term budget deal that would prevent a government shutdown tomorrow night. the leader of the group of conservatives, mark meadows, says it will be a bipartisan deal but it is likely to pass because increases and defense and other spending will appeal to many lawmakers. vice president mike pence is in japan where he is threatening north korea with the toughest economic sanctions yet. he spoke after meeting with the japan prime ministers shinzo abe. h