jonathan: mark okada, but have to me. rapid fire round i was too quick essence. keep it short. we seen the high of the u.s. 10-year yield for 2018? priya: yes. bob: no. mark: no. jonathan: leveraged loans or u.s. high-yield and the year 20 to. priya: leveraged loans. jonathan: i know you didn't want to answer this. bob: loans. mark: loans, they're both right. jonathan: come on. next friday ahead of payrolls, there isn't a presidential tweet, are you run a be bearish for the payrolls report? priya:no. i think he has been told not to tweet. bob: no. mark: same. jonathan: guys, where's the fun with this? [laughter] jonathan: freedom is right, robin miller, mark okada -- priya misra, bob miller, arc okada, great to catch up. this was "bloomberg real yield." this is bloomberg. ♪ ma i am mark crumpton. rk: president trump says he unleashed an economic miracle with this tax cut last year. the president spoke at a white house event marking the six-month anniversary of the passing of the 1.5 chile dollars measure. -- $1.5 trillion measure. candida is announcing billions of retaliatory t

to build on that, mark okada, the duration story that points out, the other is issuance.are seeing big issuance this week to the high-yield. is the issuance story taking a bite out of high-yield? mark: i think we certainly could see that. we could see an increase in issuance across the m&a spectrum as it starts to heat up. it takes time for the deals to come together. pause a big cause -- big in february. we will see better issuance in the second half. given the technicals, 33 weeks of outflows in high yields, that could lead to a bit of widening. jonathan: a conversation i have with a lot of people is the difference between high-yield and leveraged loans in the united states. where is blackrock on the debate right now? bob: tricky question. the loan market has been a good place to hide. the front end, we think the front end of the yield curve in general offers a margin of safety now that it has not in the past, specifically 2.5% two-year notes seem fair. the loan market, we are witnessing a deterioration in underwriting standards throughout the market over the past quart

and coming up, we're joined by mark okada.omberg. ♪ this is bloomberg. ♪ ♪ rope,draghi's tight saying the ecb will end asset prices in december, but will not raise rates until 2019. draghi's press conference on deck. shaking up the fed announcing a press conference. no more forward guidance and all rate hikes -- or rate hikes this year. president vladimir putin will talk about raising oil production with their energy ministers. david: welcome to "bloomberg daybreak." i'm david westin with alix steel. alix: i love the movie. david: is it interesting how the markets have reacted to the ecb decision? they said, let's take another look at it. alix: it was the two headlines. there was a higher euro call. and then a reversal. s&p futures pretty much flat only up four points. bank stocks got hit hard in europe. euro-dollar down .5%. the selloff in the bond market in europe has completely reversed itself. it is buy bunds. continues topread rise. . am watching crude time now for the morning brief. mario draghi will be holding a news co