thank you much to bloombergs michael mckee. be back later on in our battle of the charts, and peter kinsella. happy new year. let's check in where european stocks have settled. as i have indicated, it has been a light trading session. we have been dipping into the close. ftse 100 down .8%. dax down 17%. the cac 40 pushing lower -- dax down .7%. the cac 40 down .9%. .his is bloomberg ♪ vonnie: live from new york, i am vonnie quinn. guy: from london, i am guy johnson. let's check in with the blumberg first word news. here is ritika gupta. it is another sign u.s. economic growth is holding up. exports increased and imports declined. the u.s. currently runs deficit to merchandise trade at a surplus in services. the u.s. has launched airstrikes on bases in iraq and syria used by iranian bank militia. defense secretary mark esper called the attack successful. he did not rule out further action. there up in rocket attacks aimed at iraqi installations where u.s. troops are based. new york, a suspect is being held for a multiple steppin

is bloomberg's mike mckee. set it up for us. michael: if i had a nickel for every time i've said we are not going to care about what they do, we are going to care about what they say, you and i would be drinking a lot of champagne. so everybody, cinder nichols to -- everybody, send your nickels to alix. here's the first thing we care about, the dot plot. take a look at the 2020 dots i've outlined in red. . it won't take much for them to move up or down. want to startle to get back to normalizing and raise rates next year, or do we want to see, expect to see people say and we are going to be cutting at least one more time next year? that is the market that. there will be a lot turning on the dot plot. one other thing jay powell is going to get asked about, and this is going to be important, i went to show this chart here.

kicking things off is michael mckee.e to see smile on your face because this chart says you are happy. whichs the misery index combines the unemployment rate in the inflation rate. inflation eats away at your income. what we see now, you can see the numbers in the corner, it is the lowest misery rate since 1953. come back to that time period, we do not have data before that. you can see in the green, that is the lowest number. that is because inflation was so low. the most similar situation to where we are now is 1953. as former vice president dan quayle once said, campers you are and campers you will be . vonnie: i love it. i wonder if that index can go negative? ifhael: i suppose it could we got inflation and unemployment so far down but i'm not sure you can be negatively unhappy. vonnie: do two negatives make a positive? john hyland, you are after michael mckee. msci world index to a record high. going 685igh after days without a fresh record. it is now up in the last five trading sessions and that has pushed its rela

now we turn to michael mckee because we have economic data this morning. michael: let's put it in a political perspective. the big news this morning was a much lower than forecast international trade deficit for the united states in terms of goods. lower than the $68 billion people thought would be the result. it shows that may be donald trump is having some impact on the trade deficit. economists do not know whether that is because we are waiting, because people bought stuff earlier, whether or not americans have not been buying imports because it costs more money, but at this point it is good news for the president. he said he would lower the trade deficit, that is what is happening. report that was a the south -- that the china vice premier would be coming over. is this good for president trump to declare victory? michael: he can. now the question becomes what is about phase two. no one is buying the agreement we can get a second round agreement this year. david: my calendar tells me it is december 30. there may be tending of liquidity and dollars. what

vincent cignarella, michael mckee, thank you guys.id kelly of jp morgan asset management is sticking with me. we use, on the charts go to gtv under terminal. check it out. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." getting ther pfa backing of its most important shareholder for the plan to merge with fiat chrysler. the french government signing off on the deal. the new company would be based in the netherlands, headed by psa's ceo -- headed by ceo. goldman is pledging to divulge financing that directly supports new thermal coal mines and upstream arctic oil upstream -- .rctic oil bloomberg has learned boeing may temporarily halt production of the 737 max. it now appears unlikely the company will get regulatory approval for the grounded jet to return next month to the skies. going executives are convinced a temporary pause would be less disruptive than another slowdown in production. that is your bloomberg business flash. alix: thanks so much. what are the broader implications if boeing stops production? here is wh

mckee saw the federal company as an agent for a good he saw the vast reach the government had as the industry to act well to produce services. >> he didn't believe the government was the enemy he thought the government was helping people maybe not always perfectly that things could be perfected it wasn't the same feeling you have to be against the government he was totally for the government. >> i will follow up with one final question if he were to step into the democratic caucus right now, what advice would he give the democratic caucus quex. >> part from the bolstering. [laughter] nancy pelosi was in office six or eight years while he was still there and did not serve on his committees that looked up to him as a mentor so some of those acts or she is not responding to the 24 hour news cycle as one of the firebrands right away everything is done correctly that is one indication to what he might suggest that there was a quote from the early seventies and said there are two things that make a politician and how much elbow grease can they inject. >> can i say one more thing? i just wa

michael mckee, thank you. vince of audio squawk. coming up, another blow to boeing.o reach the international spacecraft on his debut flight. this is "bloomberg." ♪ live from new york, i'm vonnie quinn. this is "bloomberg markets." not reported better quarterly better. -- nike reported than expected quarterly results. taylor riggs joins us. taylor: coming up, this ties a little bit today, after record yesterday. best winning streak going back in about two years. you have to go back to december 2017 to see these types of gains. these after good quarterly results. you have a little pullback in the shares but most analysts remain bullish. morgan stanley sang management flat for guidance on it. nike is becoming more dependent on china revenue coming in about 19%. this is by some challenges in hong kong. analysts think the terror termite improve over -- tariffs picture might improve over time. as you can see, broad-based gains across your. other analysts are same the second quarter really showed nike has strength across geography, categories, and channels. total sales up a

to "balance of michael mckee on u.s. economic data out today. kevin cirilli will recap the presidential debate. david goodman on the bank of england leadership. some important pieces of data in the united states. did they change our mind about anything? mike: the economy is still on track. it does do one thing. showed todayers that spending it came in stronger than expected, which was good news because the retail numbers for november were not very good. it shows americans are still spending money, they are spending more on services. we saw incomes rise. wages and salaries are still hanging in there. there was a big jump in payments to farmers from donald trump for the pain under the tariffs. that helped boost incomes. americans are still spending and they still have the money to spend. david: and they are optimistic. mike: not only did they hang in the numbers showed the lowest inflation expectation in history for consumers over the next five years, just 2.2%. whetheris worried about inflation expectations get on board. --t makes the -- on board

cany: for more on what we learn from today's ism, we bring in mike mckee. us the silver giving us the silver lining in terms of overseas numbers being a little bit better. perhaps the u.s. is no longer in a freefall. mike: it is hard to say, the data was mixed. it is hard to say, the data was mixed. new orders number was bad, but production was up, and supplier deliveries were down. online. it is a mixed number but suggests we are not out of the woods yet in the u.s. the question is, is global manufacturing starting to bottom out? we saw an upturn in numbers from europe, although they are still almost all below the 50 contraction-expansion line. the details of the chinese report were not as good as the headline number, but it does give people in the markets some hope that maybe things are bottoming out. amanda: is it possible to extrapolate where the tariffs play into the production data at least in the u.s., a sense of the impact it is having? mike:it is a mixed number but suggests we are not out of the woods yet in the u.s. the question is, is global manu

mike mckee, it has been a pleasure. michael m: i enjoy the interview. alix: ditto.y hat. you will be jealous. nikee going to look at the buyback. do not forget to turn your car radio to bloomberg. this is bloomberg. ♪ alix: time for technically speaking. we have the bloomberg equities plot. i could listen to bill all day on tv . at nike --ng reported after the bell last night, but stocks had a big on earnings, still in a strong technical position. looking at the five-year chart. the trading range, still had a good 2018. they have the support of trends since 2017. and with amazon we finally saw some of the faang stocks recapture their eyes. bill: what is interesting about amazon is nothing. it is the only thing stock not above the 200-day moving average. alix: all right, bill, that does it for me. ♪ jonathan: the countdown to the open starts right now. come up, closing up 2019 with 10 year treasury yields, looking ahead to 2020. candidates take aim at china. boris johnson is looking to drive his brexit bill through parliament. good morning. this is your friday mo

william william william the william wanted william billy will to sign up to pick up someone analytical mckee. pulling resources with a group could mean lower costs and higher returns for their produce. when you realize this is how a mobile phone app could help looking up from the fall mas to the snow and then what the market for these a lot of ideas to be explored in the same area was of the problems become visible from a group level as a group you want to what source you support you see how much all these particular item before you see that name of intelligence reporting it as it will be able to sell these produce and also to what you need to be and how much to better. you know you. you know you only you. know you'll you'll leave or you know you'll. it's a quick goodbye to william as more news of back to nairobi. his challenge is to design an app that can help william make a better life from farming. it is a sad story unfortunately. and was see the food prices in nairobi ridiculously high and these guys can sell their produce out here i mean for instance you give me an example here into the

michael mckee joins us. give us a look ahead on what to watch out for. michael: this was supposed to be a boring payrolls report. the fed is on hold, markets say, and not much would change that. then came the adp report earlier this year -- earlier this week. now investors have something to watch for. , as you is still high saw. 183,000, although it's come down a little bit. the reason is we are going to see a gain of 46,000 jobs pre-much already baked in because the auto workers who were on strike against gm last month has gone back onto the payrolls. you can see the impact they had there. even though they are still declining, they did not payrolls down. workers, analysts are thinking we will get a big bump. however, should adp come through and be correct, that could have a major impact on markets. we saw it in may, when there was a big drop in payrolls unexpectedly, and that sent both stocks and bonds tumbling. if you can see the effect. watch out if the number is low this morning. alix: thanks so much. stay with bloomberg tv. we are going to speak wit

goal in 15 league outings my 6 ferocious attack were hungry for more the 3rd came from a defend norty mckee another young age 22. was no emotional game i know what. i think but at the end we have the 3 point lead . now goes man surprisingly unemotional considering it was the 1st time he'd overseen 6 straight this week of victories the sold off however remain down in the drop zone this is going to put this game behind us and focus on the last 2 matches of the year constantly so you do not have the stuff of champions that the coach at least has been getting rave reviews for turning them into genuine title contenders and let's have a thumbs up for the team themselves likewise the youngest in the league. and finally that massive financial backing comes in handy to stability and a solid concept of will say ok. with that next step the compact. compact section doesn't really include top competitors for the title even a shock us where they are one right david wagner. his team emerges victors over a warner. frank thanks to i mean how did 2nd hobgoblin ground work. months finish. there when will keep

great example of what something new and innovative about this technology and their guns and taken mckee's. preparations are underway for the 1st night field video shoot in europe they need to break up the cameras and connect fast lengths of cables and prepare the stage for. the scientists and animation specialists will test whether it's possible to capture this new form of video and transferred the enormous amounts of data at the same time. refuses to come out using 64 cameras gives us 64 different perspectives. in addition to the color and light properties of each point you can also calculate the distance this has huge advantages for post production you can add the extra factor after the fact and who knows what. the light field video shoot has proved a success the team has managed to create a 3 d. model of the cellist the recordings have captured the amount of light reflecting in all different directions from every point in the scene. and this means they can calculate the exact position of each of those points. but they've also managed to successfully capture her movements using the spat

anna: that was the boston fed president speaking to mike mckee.year, kit is still with us. a good place seems to be the phrase the fed has landed on. do you think the u.s. economy is in a good place? kit: it is a nice place. i think it is slowing on balance, slowly. i think the economic cycle has been revived in the last 12 months in the sense that we started seeing the u.s. they were market run out of people, we saw some wage pressure from bits of it. the fed raised interest rates and the corporate earnings cycle rolled over, and the earnings cycle has still been rolled over. that i think defines the economic cycle. when you have no pressure on earnings. but it is now going down. i'm not sure you can stop going down unless you do something dramatic and i'm not sure anything is dramatic enough. i think we will see disappointment in the u.s. economy coming from that. arguing that you have to have fiscal policy to make the next move, that will not happen in the u.s. anna: it is a global topic. is in thedollar heads mix and that matters to emerging m

i was raised in pittsburgh, and just a little town outside of pittsburgh called mckees rocks. and my father carried mail on his back for 28 years. and my mother was in-and-out of the workforce depending on what was happening with us. and mckees rocks was a very, very blue-collar, democratic town, in fact they told me they support roadblocks up to keep republicans out, but it was conservative, it was god-fearing, it was kind of basicco values, common sense, all those kinds of things. my father's father was a coal miner, and he had a very, very hard life. because he didn't have anybody to represent him, and he would go down the coal mine and what he would come up they would not pay him for his work. it was tough. and my father and my uncle george, actually would go to school sometimes in flour sacks that were made up by their mother. my mother's, her mother lived with us and she was from yugoslavia and she could barely speak english. and so it was, you could just imagine it was not a family that was living in the highlife, or any of that stuff. i decided that when i graduated fr

to "balance of michael mckee on u.s. economic data out today.will recap the presidential debate. david goodman on the bank of england leadership. some important pieces of data in the united states. did they change our mind about anything? mike: the economy is still on track. it does do one thing. showed todayers that spending it came in stronger than expected, which was good news because the retail numbers for november were not very good. it shows americans are still spending money, they are spending more on services. we saw incomes rise. wages and salaries are still hanging in there. there was a big jump in payments to farmers from donald trump for the pain under the tariffs. that

isning us for the latest michael mckee. does this mean all is where in the treasury market? michael: we have to watch because we do not know what is outside the gates. we've had to operations and there is another one underway right now and both under subscribe. -- under subscribed. for the overnight repo operation, they just took 30 billion out of what was offered. it looks like dealers think they have enough quiddity, and you look at what is happening in the overnight repo rate, nothing basically. you can see the spikes we had last time that set off so much in the markets, and we had a brief spike september that led the fed to go back into the repo business. so far no movement in the last couple of weeks. you can see how flat the line is in terms of overnight rates. take a look at my next chart. yearshe last five or so of the overnight repo rate at the end of the year. you can see the spikes moving on a different timeframe. different reactions in different years to the spike, when it is needed and it has to do with the calendar, but that does not mean we are all clear. we w

alix: michael mckee, thanks very much. coming up, we are going to have more on your morning trade and analysis on the markets in today's first take. this is bloomberg. ♪ ♪ alix: time for bloomberg first take. we are going to give you the news. you get the trade and analysis of the markets. sassower,e is damian vincent cignarella, and also with us is maria vassalou of vassalou capital management. vincent, i set up the whole show on what is going to win. is it going to be central banks or trade? vincent: i think it's trade. i think we are going to see the usmca developed, and how nancy pelosi wants to put a stamp on that. this is a republican bill. this is the president's deal. the talk from washington is the house wants to try to get their fingerprints on the stomach it looked like we were a part of it so they won't give the president a total win. they can't stand in front of it if the president takes it to mexico and canada and it is on his desk, waiting for it to sign. the second part of the deal is the tariffs on the 15t

michaelank you so much, mckee. house intelligence committee democrats released their findings yesterday, saying the evidence of the president's misconduct is overwhelming and so too is the evidence of obstruction of congress. joining me now from the white house is kevin cirilli, bloomberg's chief washington correspondent. spoke to aerday i senior eight to a prominent republican senator who told me they are not blinking as the house continues forward on the task toward -- path toward impeachment. house judiciary committee -- today's house judiciary committee meeting is being met with i roles at the white house -- eyerolls at the white house. today, four professors are testifying, legal scholars there testifying before the house judiciary committee. three of them selected by the democrats in control of the committee come up one of them selected by the president. president trump yesterday in london said he would have preferred for hunter biden, joe biden, other folks that republicans would like to see investigated tes

mckee, bloomberg radio and television. in septemberded that the repo spike is not a one-off confluence but reflected issues that could lead to a recurrence. i want to ask you if you agree with the bis findings. and will you be taking any extra steps to ensure funding is available in the repo and fx swaps market? there is a report indicating a good chance of disruptions. one reason they put forward is the fed is buying only t-bills in the market wants to sell coupons. chairman powell: i'm going to take a step back and i will get to your specific question. i want to stress that these are important operational matters without implications. ampleided to remain in an reserves regime many we are setting the range for the federal fund rates and not as a level of reserves. our -- we are committed to robustly implementing that framework. the purpose is to ensure policy decisions will be transmitted to the federal fund rate. we have the tools to a compass that and we will use the -- accomplish that and we will use them. is not to il

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vonnie:vonnie: that was boston fed president eric rosengren speaking to bloomberg's michael mckee.g markets now, we are continuing the rally we have been seeing all year. 3235&p 500 up 11 points at . volume is lower, but there are still people trading out there. the nasdaq just hit 9000, up 0.5%. in the s&p, the best performer is amazon, up 2.4% after reporting a record holiday sales period. oil companies also doing well. the $61.65 mark. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. this is bloomberg markets. the story is getting worse for boeing. messages between employees are picking a disturbing picture of concern. those are the words used by house committee aid. the disclosure came on the same day boeing ousted its chief executive officer. let's bring in brendan case from dallas. what is in these messages? will the public ever see them? brendan: we do not know what is in them. the public has not seen them yet. the public will certainly. there is an early batch of messages in october that was publicly disclosed. this latest collection has been described as

vonnie: michael mckee, our international and policy correspondent.volcker, dead at the age of 92. kevin: this is "balance of power." i'm kevin cirilli in washington. vonnie: i'm vonnie quinn in new york. ukraine's president volodymyr zelensky campaigned on bringing peace to crimea. today in paris, he is getting his first shot at delivering on that promise. he is meeting with vladimir putin for the first time in the so-called normandy format alongside french president emmanuel macron and angela merkel. for more insight, joining us is michael bossel q. former spokesman for the organization for security and cooperation in europe. it is phenomenal just the position of pictures. you have closing arguments in the impeachment inquiry. on the other, you have these leaders gathered in paris. what would be the hope for this meeting? do you have any hope? you.el: good to be with of course, the hope is to bring peace finally to eastern ukraine after five years of violence which has caused -- cost 14,000 lives, billions of dollars of infrastructure damage and mil

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michael mckee, bloomberg radio and television. the repo spike was not a one-off confluence of events but could lead to a recurrence. i'd like to ask you if you agree with the b.i.s. findings and given we're approaching year-end for the markets, will you be taking any extra steps to ensure that funding is available? there was a report yesterday from credit suisse suggesting there's a good chance we will see disruptions. and one of the reasons they put forward is that the fed is at this point buying only t-bills and the market wants to sell coupons. do you have any plans to sell coupons? >> i'm going to take a little step back, and i will get to your specific questions on the year end and on t-bills. i guess i want to start by stressing these are very important operational matters but are not likely to have my macro economic implications. we decided back in january to remain in an ample reserves regime, and that means we'll be setting the range for the federal funds rate through administrative. we're committed to robustly implementi

and my mother was in and another of the work force, depending on what was happening withus, and mckee's rocks was a very, very blue collar democratic town, in fact they told me that they used to put road blocks up to keep republicans out, and it was conserve, got fearing, basic values, common sense. my father's father was a coalminer, and he had a very, very hard life because he didn't have anybody to represent him, and he would go down in the coal mine sparks when he would come up they would not pay him for his work it and was tough. my father and my uncle george, actually would go to school sometimes in flour sacks that were made up by their mother. my mother -- her mother lived with us and she was from yugoslavia and could barely speak english, and it you could just imagine, not a family that was living the high life or any of that stuff, and i decided that when i graduated from high school, that i was going to make a big change, and so i made a traumatic decision and fateful decision to go 180 miles to the west to that little school called ohio state university. right? and when i go

. >> -- concluded in -- i did same thing -- michael mckee, bias i concluded in september repo spike wasonfluence of random events refltdz structural regulatory issues could lead to recurrence i would like to ask if you agree with findings given that we are approaching year-end, for the markets, will you take any extra steps to ensure that that funding is available repo, swap markets as report yesterday, credit suisse suggesting a good shans we many see disruptions and one of the reasons they put forward is that there the fed is at this point, applying only t-bills, market wants to sell coupons do you have plans to sell coupons a step back i will get to specific questions on year-end t-bills. >> so i guess i want to start stressing these are very important operational matters not likely to have macroeconomic implications. it is -- we have decided back if january, to remain nam pell reserves regime that means we will be setting the federal funds rate range for federal funds rate administered not through active management level of reaches we are committed to robustly completing that framew

just got a crash reported here northbound 101 right around mckee, shouldn't be a major issue and mayst someone pulling over for some mechanical issue. nonetheless it's there and the build for the south bay. we have a smooth drive look at the rest of your map, exceptionally light for 6:52 in the morning. remember, the last few weeks of the year we have that shift later and lighter for the commute. northbound 17 slowing though coming up toward lexington hills. i don't think it's related to that construction or landscaping. it's going on for a while but early start for that slowing there and we have right on schedule predicted out of sman martin 101 over the hill for highway 17 the drive back tough for early afternoon. the landscaping doesn't clear until about 3:00. starting to see it unclear, slow down out of lafayette west 24, the backup at the bay bridge toll plaza with the metering lights on and gradual slowing along the east shore freeway, a build out of richmond-san rafael is not a surprise and a view of the berkeley curve in the last 15 minutes we've seen this slower drive for we

i'm expecting revenue from structure, roger, mckee across the top and parliament are protected months time investment habanero private market. should we should stop to ensure individual to perform well crack -- with my best investment protection for a fact -- this is a challenge. but we are making progress. interaction democrats are making a difference investment in our markets. but also the monitoring of market functioning market risk. trying to inspection and enforcement efforts. i want to our teachers and military service members. but we have focused -- their message here is simple. if your pet cats, service members or they don't, want to can't you. perhaps you got the money back. -- and that's what have returned for 1.2 billion dollars to our investors. probably talk about some of the biggest impediment that we face. situations where it is reconciled, such as a part of the scheme. much appreciate the partisan work in congress to address these charges and welcome happy to be to continue tonight that you. and to ensure that that's not good at the money back., no substantial increase

he was more is michael mckee. mike, set the day up for us. michael: you could say today's numbers are all about trade wars. with the trade balance. last week's report showed a slight narrowing as exports and imports both fell. services, which generally show a surplus. the forecast overall is for a narrowing in the trade balance, but that is not what's happened overall since the trade wars began. the trade deficit has expanded. ,e also get a look today revised numbers on business investment, capital goods orders as part of the overall factory numbers. the initial reports i surprising increase. get joblessoned, we claims. another report on the labor market. range forrt of in a most of the year, and then they broke out for a couple of weeks. last week flipped back into the range. holidayst week was a with thanksgiving, the numbers aren't very trustworthy with wall street. we will have to wait for friday's jobs numbers to get anything definitive on the labor market. alix: looking forward to that. thanks very much. now we turn to amazon. the retai

here was more is michael mckee. what is the most important thing? michael: it's hard to say because it is a week of a lot of headlines, but probably not a whole lot of risk. in each case the decision is likely to be do nothing, maybe sing a few holiday carols, and then go home. the fed, why would they want to move at this point? goldilocks is sleeping in the bed and it is just right. no wage pressures at all. . they are >> to take a break. market thinks -- they are likely to take a break. market thinks they will cut again sometime next year, but not for a while. ecb exempts more banks from -75 basis points, so they are likely to see how it goes. the ecb isn't crying out for additional moves, which is a good thing because they have almost no moves left. which means the news out of frankfurt is may become a what is christine going to say? christine lagarde's first meeting. she will be watched very closely, critiqued, and of course come up prepared -- of course, compared to mario. ppi,e u.s., we get cpi, and import prices, none expected to move enough

bloomberg's michael mckee is looking into some of the numbers.me into the year saying it was going to be on hold and then lowered rates because the economy slowed, saying we can have an effect and it looks like they have, at least in the mortgage market. mortgage rates have fallen to multiyear lows and we have seen at the same time home sales rise. those mortgage rates have bottomed out and we do see a flattening of home sales. the question is does the mortgage market continue to support additional home sales. one problem you have with all of this is whether or not houses are affordable. after the great crisis we saw prices drop. now they have come back up that home prices, even though they are down are still rising faster than wages. it is still an affordability issue for many americans, particularly at the lower end and particularly at key cities in the united states. san francisco is the poster child for unaffordable homes. the white line is the -- the price index for homes nationwide. that is san francisco in blue. people cannot afford housin

to's turn to michael mckee get you set up with the next 30 minutes into the open. just a little bit more interesting as the day grows older. are just beginning to figure out some of the things that go into the trade

audio squawk vincent cignarella, and our international economics and policy correspondent michael mckeed with us is amy wu silverman, rbc capital markets equity derivatives strategist. are you fading the dollar now? vincent: on a daily trading basis, you do. on a long-term basis, i think the dollar has rolled over. but on any given day, i'm not afraid to buy the dollar and take the other side of that trade. alix: do you think the market was right to have a weaker dollar? did we really have that much dovishness yesterday? michael: i think we did. it is always relative to expectations. what jay powell did was reassure everybody that cignarella was right. [laughter] basically, there's no reason at this point for the fed to do anymore. you've got this overhang of the china trade stuff, but that's been there for so long. it looks likely to continue to be there for so long and it doesn't show up in the data, so what can they say other than the economy is in a good place, so therefore we don't need to act? alix: amy, i feel like last time you are here, you were saying you want to hedge a littl

david: many thanks to brooke sutherland of bloomberg opinion, and thanks also to michael mckee for joininggerman bunds yields hit their highest since july and what could be a breakout. that is next in today's technically speaking. if you're heading out of jumping at your car, tune into bloomberg radio heard across the united states on sirius xm general 119 and on the bloomberg business app. live from new york, this is bloomberg. ♪ david: time for technically speaking. bill maloney, chartered markets technician and voice of bloomberg's equity squad joining me now. you can listen to bill on the bloomberg by typing in squ < go>. bill: let's start with a spike in the yield. german 10-year gilts hitting the highest level since july -- german ten-year yields hitting the highest level since july. look for a temporary resistance around july highs. if they can get above there, the next level watches -1.55%. turning to the u.s., you are also seeing a move in yields, a spike as well. currently around 1.94% or so. the trend is higher since september but it is not breaking out. look for resistance on t

michael mckee is scheduled to be there. the fed at 2:00 p.m.. bloomberg "surveillance." credit suisse cutting its profit target for this year and next. trade tensions and negative interest rates are clouding the outlook. credit suisse also signaling this year, its investment bank is set to make a loss. chevron expects to write down as much is $11 billion in the third quarter, more than half from its appalachia natural gas assets. they are considering a sale of shale gas holdings and are keeping their capital budget unchanged for the third year in arroyo. apple offering a number of eye watering prices with its new mac pro. you can buy the device for just under $6,000. fully loaded, it will set you back $52,000. wheels for moving at around the office will set you back extra. tom: thank you so much. as we try tondon stagger the election tomorrow and our special coverage is camilla cavendish, former head of policy to david cameron and his known for writing for -- is known for writing for "the financial times." world."ons for an aging one does old ag

he said that with mike mckee on november 18.o sure we need so much accommodation at this time, so i am worried that we have less room than we otherwise would have. i would say it is not just the short end of the markets or the long end of the market. it is fluctuating between 1.5% and 2%. that is lower than what we experienced in the last recession, which means quantitative easing will have a limited effect as we get down to zero more quickly than we are expecting. guy: that was rosengren back in november, november 18. since then, the fed is facing signals it is on hold right now, watching data. it is feeling good about the where the u.s. economy is. that is the message we are getting from jay powell. think the fed and certainly rosengren have got it wrong. go back perhaps to the end of 2018 and we look at where the market was, around this time last year, the market was beginning to change its view because in 2018, the fed was hiking, which we -- the fed was hiking, the market was thinking it is 2019, there will be hikes as well

. >>> and look at mckee so that early retirement we planned. it's going ok? great. spending more time with the kids. i'm introducing them to crab. crab!? they love it. so, you mentioned that that money we set aside. yeah. the kids and i want to build our own crab shack. ♪ ♪ ahhh, you're finally building that outdoor kitchen. yup - with room for the whole gang. ♪ ♪ see how investing with a j.p. morgan advisor can help you. visit your local chase branch. >>> now, your accuweather forecast with mike nicco. >> good morning. i am watching the stream of showers off of the coast and dissipate through the morning hours, and more showers are possible today. the thickest fog is up in santa rosa and it is reyanderring around the valley and that is the biggest concern through the commute. as far as what is happening later today, the scattered showers possible and steadier rain tonight and tomorrow morning, and lighter rain thursday before heavier rain hits friday. >> thank you, mike. coming up on "gma" the new way that people are fighting against the porch pirates as those then

we can cross now to swansea and speak to felicity mckee who is originally from northern ireland but choseh your treatment? the situation in northern ireland led to me having multiple hospital admissions every week so for example i was studying public health at queen's university and the classes we re queen's university and the classes were held in the royal victoria hospital and i would go to class and in the evenings i would have to go into the hospital overnight because i wasn't able to get to the end of a waiting list or access community ca re waiting list or access community care so it is the equivalent of putting a plaster on to a wound that was not healing. it is a huge decision to decide to move away from where you are living because you cannot get the health care you need. it was very daunting but when i look at wales in comparison to northern ireland even though it is the next worst provider of health care competitor northern ireland uk wide difference between northern ireland and wales as night and day. the statistics in northern ireland of 300,000 in august who were waiting to

mckee who testified here this morning for his work as a member of this, recommendations from the ntsb the d.o.t.'s inspector general and finally a report from the secretary's special committee on aircraft certification, we believe the transparency open and honest communication and our willingness to improve our systems processes are the keys to restoring public trust and the faa beyond the 737 max the faa is committed to addressing issues regarding aircraft certification processes, not only in the united states but around the world, this includes moving towards a more holistic brushes transactional item by item approach integrating human factors more effectively throughout the design process, and ensuring coordinated and flexible information flow during the faa's oversight process, we end our international partners was also foster improvements and how aircraft are designed and produced but also how they are maintained and operated. we are prepared to take the lead in this phase of human safety. the hard lessons have paved the way to create a global aviation's system but an enviable sa