jonathan: subadra rajappa sticking with me alongside matthew hornbach and rob waldner .oming up, the auction block. we will talk about that next. this is bloomberg real yield. ♪ jonathan: i am jonathan ferro. this is "real yield." we start in the united states. the treasury selling $14 billion as demand grows. the sale marks the highest heels for competitive bidders since 2009. in europe, daimler issued its second round of pound bonds, bucking a near 40% slump in sales and corporate debt sales in 2018. notesillion of five-your -- five-your notes. cut salesnies have about 80% this year to 9.5 billion euros. this comes after the president's tax reforms removed an incentive to issue debt in europe. i want to get to a fascinating story. ever report this as president trump held italian -- told the italian prime minister the u.s. will help the country by buying government bonds next year. still with me is matt hornbach, subadra rajappa and rob waldner. everyone has read that story. they started by laughing. how can this happen? subadra: they can't. the u.s. government doesn't

jonathan: subadra rajappa from societe generale sticking with me alongside matthew hornbach and rob waldnercoming up, the auction block. regular u.s. visitors to european bond market have been absent in 2018. we will talk about that next. this is "bloomberg real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." we want to go to the auction block now, where we start in the united states. the treasury selling $14 billion as demand rose. relative to the last auction, the sale marks the highest heels the sale marks the highest heels for competitive bidders since 2009. in europe, daimler issued its second round of pound bonds, bucking a near 40% slump in sales and corporate debt sales in 2018. the maker of mercedes-benz -- $640 million of five-year notes. staying in europe, u.s. companies have cut down on investment grade euro notes to 80% this year to 9.5 billion euros. this comes after the president's tax reforms removed an incentive to issue debt in europe. we have a mention of report that president trump told the italian prime minister the u.s. is willing to help the c