peter chatwell, i have 30 seconds left. what do you do in this tumultuous august? can make money? peter: don't sell any 30 year european bonds. they are still a scarce asset in core countries, but the ones that are cheaper are in the periphery. look at 30 year italy, i would argue it is one of the cheapest assets in european fixed income. combine that with being more cautious on credit spreads in the u.s., late cycle dynamics is a really good thing. it will keep the treasury curve converting and will pressure that into more -- treasury curve inverting and that will pressure that into more inversion. tom: the vanilla inversion is a large five basis points. peter chatwell, thank you so much, on a quiet morning from our desk in london. coming up, my interview of the day, dr. pozen of the peterson institute, it :00. -- 8:00. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who

tom: neil shearing and peter chatwell.ed around jobs day and singular talk of the president and his taxes on china. next, michelle meyer. ♪ ♪ this morning, global markets continue to react to the president's threatened increase of american taxes. china responds. , ais jobs day in america fully employed and confident america, or is it? , ander wales nor england the mountains of wales jeremy corbyn loses big. the combined vote is impressive. this is bloomberg "surveillance," live from new york and queen victoria street. andaordinary market moves sterling with a bid. francine: sterling was a bid after a difficult week. listening to the bank of england governor mark carney trying not to politicize brexit and trying not to move the pound. he would not give odds about a new deal brexit. today, the falling out of bed of everything but pound is significant because of extra tariffs from president trump. maybe he is testing central banks. tom: all of this leading to jobs day in jon ferro's conversation with lawrence kudlow and the 9