jonathan: michael schumacher, are bond markets in the driver seat, should it be? l: i'm not sure that it is, frankly. it strikes us, if you look at the moves over the last month, it is probably bonds reacting to stocks, not the other way. jonathan: krishna memani, lale topcuoglu, michael schumacher. this is bloomberg "real yield." ♪ ♪ jonathan: i'm jonathan ferro. this is bloomberg "real yield." time for the final spread. over the weekend, china's tariff retaliation will take effect saturday. with an increase of tariffs of around $60 billion of u.s. imports. tuesday, rate decisions from australia, and fed speak from chairman powell, kaplan. friday, a payroll report in the u.s. to discuss, my guests. lale, what are you looking for through next week? lale: peace and quiet? [laughter] lale: probably more of the same. the fed will echo what clarida said last week, ecb will try to calm. europe has been under a lot of pressure. look at european financial stocks. italy is at the epicenter. i think more of the same. our goal will be not to react with a knee-jerk reaction.

jonathan: michael schumacher, are bond markets in the driver seat, should it be? ael: i'm not sure that it is, frankly. it strikes us, if you look at the moves over the last month, it is probably bonds reacting to stocks, not the other way. jonathan: still? michael: still. jonathan: krishna, do you agree with that? krishna: i don't think so. michael: it is friday, you can be wrong. [laughter] krishna: i think they are kind of operating with different technicals, different risk profile of their respective investors. that is probably the difference between the two markets. jonathan: krishna memani, lale topcuoglu, michael schumacher. i want to get a market check. yields shaping up as follows. over the last week, we come in a monster 18 basis points on the front end of the curve. unreal. two-year yields, sub 2%. still ahead, the final spread, the week ahead featuring an ecb rate decision and a big payrolls report. that is next. this is bloomberg "real yield." ♪ jonathan: i'm jonathan ferro. this is bloomberg "real yield." time for the final spread. over the weekend, c

jonathan: michael schumacher, are bond markets in the driver seat, should it be? ael: i'm not sure that it is. if you look at the moves, it is bonds reacting to stocks, not the other way. jonathan: krishna, do you agree with that? krishna: i don't think so. michael: it is friday, you can be wrong. [laughter] krishna: i think they are kind of operating with different technicals, different risk profile of their respective investors. that is probably the difference between the markets. jonathan: krishna memani, lale topcuoglu, michael schumacher sticking with us. i want to get you a market check. yields shaping up as follows. monster 18 basis points on the front end of the curve. unreal. two-year yields, sub 2%. still ahead, the final spread, the week ahead featuring an ecb rate decision and a big payrolls report. that is next. this is bloomberg "real yield." ♪ jonathan: i'm jonathan ferro. this is bloomberg "real yield." time for the final spread. over the weekend, china's tariff retaliation will take effect saturday. $60 billion of u.s. imports. tuesday, rate decisi

ferrari's charles they click in the 3rd level to now has 79 career wins he's closing in on michael schumacher is all time record in needs just 12 more. in tennis roger federer looks to be in fine form for wimbledon after he swatted aside france's divied golf and to win germany's hollow open for a record 10th time the swiss took the 1st sets a tie break and he went on to dominate the 2nd set from there winning $61.00 to clinch his 102nd tour level title federer will be hoping to add to his all of 20 grand slam titles wimbledon gets underway at the start of july he's already won that tournament 8. you're watching news live from berlin up next is tomorrow today the science magazine i'm called aspen and i'll be back with more news at the top of the hour thanks for watching. what secrets lie behind these men. find out in an immersive experience and explain to us an aging brood cultural heritage sites. d.w. world heritage 360 the coup de mint. did you know it cost $0.50 to feed hungry child for one full day. if you want to comment.

with us now is michael schumacher, global head of rate strategy, wells fargo.hat do you think about the predictions? that there will not be a rate cut at this fed meeting, but we could see 50 basis points by september, and the market seems to agree. seems offhis meeting the table, the fed meets next week and it would be a stretch for powell and friends to say things have decayed dramatically, let's cut in june. that seems like it will not happen. july could happen. that is the call from our economics team. there would be an insurance rate cap. july is possible, june is unlikely. matt: in that case, what do you think investors should be doing now? i hate to go back, but i am thinking he is talking about buying gold. we heard the same thing yesterday. jones also said to buy stocks, and he is long rates as well. michael: i am not suggesting people go into gold. in the bond market, we heard tremendously high probability of pricing for a rate cut. but if you look at the treasury curve, it is superflat. in the u.s. bond market, that does not make a lot of sense. when

circuit six times, he will beat the record is if he winds again, taking the record of the great michael schumacheris weekend to continue his winning ways ? this weekend to continue his winning ways? mainly his car to beat his team—mate. he's been really quick this year and even if hamilton beats him on the last two outings qualifying is crucial, as always. but between those two mercedes there is nothing, so hamilton needs to qualify fastest. you can't discount ferrari, they potentially have a car that better suits the service, but leclaire, may be. but it's hard to call. they do have a new engine as well this weekend and other upgrades as well. they may be more dominant, we can find out over the course of the weekend. it's a beautiful day here, lots of excitement and lots of fa ns here, lots of excitement and lots of fans coming to the track. let's find out what's going to happen across the weekend. going to happen across the weekend. we will have more sporty for you throughout this evening. goodbye from me. the weather is not looking ideal on saturday, but it depends whether you area saturday, bu