steve evans, bbc news, berlin. >> that's just about the end of this edition of gmt. before we go, a reminder of the story we have been leading with today. the start of the first arab league summit to be held in baghdad in two decades. the government was hoping it would put its census stage in the region. what's happening, as the meeting was just about to get under way, there were a couple of explosions in the center of the city. rockets or mortar rounds are reported to have been fired. one witness said a blast occurred near baghdad's heavily fortified greene's own. another said it was near an embassy. our correspondent said there was some explosions. there are no immediate reports of casualties or any damage. stay with us on "bbc world news." there is plenty more to come. >> make sense of international news at bbc.com/news. >> funding was made possible by -- the freeman foundation of new york, stowe, vermont, and honolulu, newman's own foundation, and union bank. >> at union bank, our relationship managers work hard to understand the industry you operate in, working

we're joined by kelly evans, and steve liesman. good to see you both. so we did get the jobs numbers that were better than expected, kelly. what about the income and the paychecks? >> i want to point out as we're seeing increases in job gains over the last couple of months, income growth has been lagging. we're talking increases in hourlily earnings. we can see it in terms of growth and spending. >> steve, what do you think? what are you expecting this to translate into in the coming months? >> i look at it as a somewhat broader measure. i disagree with kelly a little bit. if i look at personal income, i look at the wage-to-salary component. growth to 4% year-on-year. we have about as good an income as we had back in the 2006 and '07 period. i'm not that worried about it. i think incomes are growing smartly here. >> we're looking at a real reaction in the market because of the news on greece. we actually saw stocks back up after the news. >> i have a number here, maria, that i'm trying to run down. i believe this covers only $3 billion of default and so

joining us, bill gross, david kelly and our very own steve liesman and kelly evans.uickly, bill, what are you expecting today from the fed? >> not much. i think april holds the key. i believe there's going to be a q.e. 3. i think there has to be, mandy. >> why? why does there have to be? so many great data points have come out lately. >> whenever the fed and other central banks have paused with their quantitative easing programs since 2009, stock prices have fallen and economies have slowed. it's my way of thinking there's little hope for the private market substituting for central banks anytime soon. >> we're sitting at multiyear highs in the markets. the equity markets, is there anything thefood fed could do or say that could derail that, david kelly? >> i actually completely disagree with bill in terms of what the fed should do. what they will do, i'm not sure of. i think the economy will be strong enough to avoid q.e. 3. but this policy of more and more liquidity holding on to rates down is not really helping. there's plenty of liquidity in the economy. the econo

i'm andrew sorkin, along with kelly evans, steve liesman and ross westgate.tures, we've got red arrows across the board. the dow would open up about 60 points lower. got a fedex news we're talking about in just a second. the implied open is marginal. >> is this risk-off pressure? >> yeah, it's the euro. >> this morning i saw the -- >> weak manufacturing data, weak data in the u.k., weak data out of china. >> you have to remember risk on/risk off, trying to keep hope alive, risk on takes off. >> the risk on/risk off this evening is broken down in terms of the correlation have -- those correlations where we've had risk on/risk off -- >> the dollar is risk off. >> the dollar's been risk on for most of this year. it's gone up with the -- >> i guess that's true. >> we have somebody this morning who said now the dollar is tried to interest rates, it's not leaninged to -- >> the bond market will lead the fed. as bonds sell off, somewhere down the road, you might know better than i do where wh that will be, the fed will have to chang policy and we should expect the d

steve. let's build up on that and bring kelly evans into our conversation at this point. kelly, when you see these figures and those data points, what does it say to you specifically as it refers to the benefit question? >> yeah. steve mentioned, there's more focus on how much more we need to continue extending benefits and what impact that's having on unemployment. i would push back a little bit on this idea that extended benefits are causing any degree of unemployment. basically there's not as much hiring activity. the climbs were broad based. still very, very high by historical standards. in the 40% range. is that caused by extended benefits? unlikely. there's been some work taking a look at the impact what this has been. may have boosted the unemployment rate by about a point. but once people started to exhaust the benefits -- >> kelly, i think you look too narrowly if you just look at unemployment. work done by none other than alan krueger, president obama's top economic advisor, has shown that things like job search increase when jobless claims come to an end. and al

>> steve: yesterday we hadnd do trump on. tomorrow, takes daughter, evan i can't coo. >> brian: -- ivanka joins us. >> gretchen: we'll see you tomorrow. have a fap fastic day. good morning, everybody, 9:00 in new york. while you were sleeping gas prices ticked up again overnight. there are new developments in an effort to bring more canadian oil into the u.s. this time it has nothing to do with the keystone pipeline that president obama shot down. good morning, everybody. as we trace the pipeline. i'm bill hemmer. how are you doing? martha: i'm doing. bill: two hours of fun. martha: coming up for you. i'm martha maccallum. you have these two big energy companies now basically want to compete with the whole keystone pipeline idea. they will not need any state department approval to do just that. bill: which is critical of the pipelines that move 850,000 barrels of crude today from canada to refineries of the gulf coast. it will bring 450,000 barrels a day within two years that is critical. canadian oil sands production expected to double to three million ba

steve, stick with us. let's bring in now our guest. we have btig's dan greenhouse and our very own kelly evans onset. dan, let me get to your first of all. what's your reaction to what bernanke was saying to liesman. >> i think what he said in the class is exactly right. you know, i've been meeting with clients the last couple of days. there's this debate about the rise in treasury yields and how quickly the fed will move to change its language given the improvement in the economy. i think people are underestimating the degree to which 1937 hangs over fed policy now. they are going to go very closely in making sure they don't make the same mistake again. >> kelly, do you feel we learned anything new today? >> from ben bernanke? i think his comments about the economy sounded pretty upbeat. he tends to try and strike a pretty even keel tone. that jumped out at me. aside from that, not necessarily. the real question comes down to the focus on rising rates and people wondering in context is it time for the fed to react to this? i agree with dan. it's far, far too soon to expect that if anything. i'm curi

>> steve: yesterday we hadnd do trump on. tomorrow, takes daughter, evanchen: we'll see y