taylor riggs has more. apitol hill, chuck schumer is speaking about the controversy regarding jeff sessions. he is calling for sessions to resign after revelations he year to anwice last ambassador to russia. the department of justice must appoint a special prosecutor. confirm benoth to carson as hud secretary. the vote is ongoing, but carson will be confirmed. the british investment manager who brought the lawsuit that forced prime minister theresa may to get parliament's approval for her brexit trigger plan could go back to court. miller said she may file an new case if parliament is not given a full vote for the final deal to leave the european union. theresa may drop brexit law is going to the house of lords. france's independent candidate emmanuel highlighted his plan today and won't change the retirement age or cut pensions. he does want to cut cost and bureaucracy so it is easier to hire workers. he promises a massive effort on apprenticeship. the number of earthquake in oklahoma has fallen since regu

here is taylor riggs. delivered a couple political blows to the trump administration. he revealed the fbi is investigating whether any of the president's associates collaborated with russia during the campaign. meanwhile, the kremlin says the u.s. has no evidence that they meddled in the election. is aimed atew role travelers coming from north africa, and having to stor electronic devices more -- having to store a la tronic devices larger than a cell phone into check packages. airlines 96giving hours to implement the changes. marine le pen and emmanuel macron went after each other in a televised debate. le pen attack macron's record, called for a ban on 100% of immigration. blasted le pen on her ethics. and a former irish republican army commander who helped negotiate peace has died. martin mcguinness died at age 66. he eventually became the deputy leader of northern ireland's power-sharing government. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries

here's taylor riggs.cked byas president trump's accusation that president obama wiretapped him before last year's election. the obama campaign has denied the claim. fbi director james comey asked the justice department to reject the trump allegation as false. the white house wants congress to investigate. in europe former french prime says he alain juppe won't step in to be a replacement candidate for president. he lost the republican primary to francois fillon but fillon faces pressure to step aside after being implicated in a scandal. moved to the has highest stage alert after north korea testfired four missiles at once. they fell into waters off the japanese coast. as southt were fired korea and the u.s. conduct their annual military drills which north korea called a prelude to invasion. john cryan has torn up his own turnaround plan. deutsche bank wants to raise 8.5 alien dollars in a share sale. cryan spoke to francine. >> we have been shrinking. we have been taken. changing the bank a lot over the p

i am taylor riggs. this is bloomberg.ine: thank you. -- italian finance minister to talk about italian banks and futures and the future of italy -- we are joined by mario monti, the former italian prime minister. a senator for life in italy. always a pleasure to hear your thoughts and the insight on the italian economy. i think we need to talk to -- we need to talk about italian banks. investors, they don't understand on the conversations why reinvesting in the banks are taking so long. what effect does this have on the bank and the italian economy? mario: well, i have some experience, having been competition commissioner for state issuesd the in particular pertaining to financial institutions are very complicated. so i am not too surprised that the conversation between the commissioner and the prime minister takes long. however, i do hope that they are soon concluded. it will help. most importantly, i think, the general stance of the relationship between the eu and italy, concerning the control of the ministere -- has so

i am taylor riggs. this is bloomberg., equities, currencies, commodities, i will call it stability. jostling around 11.59. a better tone to the market. the 30 year bond, that color is wrong. it should the red. there is sterling. francine, you can talk about brexit sterling. thing i care only about is sterling falling in early asian trade. need to take a step back in trying to understand what is priced in and what is not. there is short positioning on pound. sayign-exchange strategists it is short,s maybe we are underestimating the fact we are bracing for the worst, hoping for the best. psychologically, we need to see where the market is positioned. your -- areating a to two year divorce from the u.k.. can you talk us through what happens at what time? >> the letter traveled across over to brussels and is delivered by tim, britain's ambassador to the eu. when that happens, that is when the clock starts ticking. that is when the two-year timeframe starts. i caught up with hillary, who chairs the brexit committee here. some

here is taylor riggs. with u.s. politics. trump sounded as dow different tone could he laid out promisescampaign progres with few details on how to turn them into reality. the call for the repeal of rebuilding ofthe our economy. >> i will announce legislation that introduces a $1 trillion investment in infrastructure in the united states, financed by public and private capital, creating millions of new jobs. taylor: president trump says real reform on immigration as possible. he stuck to his pledge to build a wall on the southern border and wants a closer examination of anyone being allowed to immigrate into the u.s.. >> it is not compassionate, but reckless to allow uncontrolled entry in places where proper vetting cannot occur. taylor: republicans indicated afterwards that they are fine with being left to sort out the details in the president's plan, but there are big differences between president trump and his party on a number of issues. global news 24 hours a day, powered by 2600 journalists and analy

ist friday, jobs day, this taylor riggs. orea the court affirmed the parliament impeachment of president park and removed her from office. it will trigger an election in 60 days. inosition candidates lead the polls. thousands of pro-and anti-park demonstrators marched in soul. two people died. residents economy might be losing momentum. -- britain's economy might be losing moment. there is little evidence of a dramatic slowdown, but the vote to leave the european union sent the pound plunging, boosting exports. a chopper crashed into a tower, killing five people. there was a crew of 2. mexico is proposing a faster track four pro advising nafta than the u.s. suggested. the chief diplomat hope to that formal talks with start midyear and wrap up in december. they say they will rock away from negotiations if the u.s. insists on imposing taxes on any of its products. i am taylor riggs, this is bloomberg. i cannot convey the historic moment for korea. jobs day, the linkage in the greater economics. shock. focused on wage growth. i

i am taylor riggs.omberg. tom: a rate rise data check. 60% probability for march and futures after the big day, this is important, the twos and tens going up together and the yield curve is not changing all that much. we will explain that through bloomberg "surveillance." this morning. jim o'neill will provide wisdom in a moment. next green -- next screen. that is a typo, nowhere does is not, 21,000-whatever. sterling is a big deal, a chart in a moment. 104 print on dyx, which is a big deal, we are not there yet. havinge: the dollar is gains, hawkish signals from the fed. treasury dropping and gold retreating. time on the euro area inflation which is exhilarating and it gives more arguments for the ones saying the ecb is doing too much. a monetary stimulus program which gives them argument for this. i am think of germany in particular. tom: let's do this chart for jim o'neill. here is the volatility of sterling before brexit when manchester united -- gave it up and went straight down, that would be brex

let's check in now on the first word news with taylor riggs. the u.s., companies unexpectedly added the most workers in three years last month according to the adp institute research data. it climbed in february. adp revise the january figure upwards. the government releases the february jobs report on friday. senator john mccain said that wikileaks could hack into the cia and it could hack into anyone. they have posted thousands of files they say came from the cia. they could hack into devices ranging from smartphones to smart tvs so they can monitor conversations. it could expose u.s. operations around the world. in europe, philip hammond says the u.k. economy will grow faster this year than previously forecast. he delivered his budget speech in parliament today as they prepare to leave the european union. he raised the forecast for growth up to 2%. the budget deficit will be less than expected. and china is calling on the u.s. to avoid a head on collision. they are calling for north korea activities and the u.s. was asked to suspend military

taylor riggs has that. republicans have come out what their own plan to replace the affordable care act. it would phase out key parts of obamacare over several years and includes a refundable tax credit to help people buy insurance, but they may have problems getting party conservatives to sign on. according to a document obtained by bloomberg, the house conservative called those tax credits a republican health-care entitlement. president trump says the price of persuasion drugs will be coming down. a tweeted that there will be system where there will be competition within the drug industry. he says it will be included in later parts of the health care rollout. there are warnings of economic cooperation and development. it says the global economy may not be strong enough to withstand some potential risks. some of those risks include barriers and a global stock market. they forecast global expansion to reach 3.3% this year and pick up again in 2018. malaysia and north korean i have up the tension over the mur

here is taylor riggs. resort in florida will be decidedly first meeting with china's president. china's official news agency says the two leaders will meet next week. it will be the first meeting since trump took office. the president has been critical of china over trade and military expansion but the tensions that eased since trump agreed to honor the one china policy concerning taiwan. the trump administration is willing to sell f-15 fighters without the human rights demanded by president obama. $2.7 million on the planes but congress has to approve. in south korea, the ousted president was questioned by a court that will decide if she should be arrested over corruption allegations. prosecutors accuse her of colluding with a friend who took a bribe and committed other crimes. the court is expected to decide by tomorrow whether they will approve her arrest. and the city of paris is boycotting the world's largest cement maker because they are willing to work on president trump's wall along the mexican bord

i am taylor riggs.. tom: not the panic yesterday morning about the market adjustment office health care collapse. a little bit of a bounce today. the bid is shaky. shaky. .02 is a stunning statistic of curve flattening, even with -- we will talk with conrad this morning. that, the color is wrong, it should be green on a 127 two year, the two-year elevated. the yield a little bit higher. francine: selloff in riskier assets are easing somewhat. european stocks gaining. equity markets in asia resuming their upward trajectory. the dollar steady and u.s. stocks set for a recovery yesterday. tumbling on reports that the south african president plans to fire his finance minister which was denied by some factions in the government. gold soaring yesterday, now flat. tom: this is the state of america. about the news flow from the white house and capitol hill. an. is lbj and here is the gloom of the 1973 and 1974 recession. the consumer confidence, the conference board rather, expectations index. we have the basin

but first, here is taylor riggs. house republicans work through the night to take the first steps to replacing the affordable care act. the ways and means committee approved a measure approving tax income-based subsidies. instead there is a tax credit based on age. a bill still has opposition. many conservatives oppose this. a technology that efforts to retail north korea's nuclear program have failed. rex tillerson will use the trip to asia next week to look at new options. last week, north korea tested four missiles. in asia, factory prices rose at 2000astest pace since eight. 7.8%. that lists -- that lists the global outlook for inflation. in europe, one clear take away from philip hammond's new budget. the government is likely to resist growing pressure for an early election. he increased taxes on the self-employed and it prompted not nation that the conservative party was breaking one of the key election pledges. theresa may has been urged to take advantage by calling a general election. global news, 24 hours a d

here is taylor riggs. we are going to start with u.s. politics. jeff sessions has eased some pressure building around his meetings with the russian ambassador. he said he would recuse himself from investigations involving russia in the presidential election. >> i never had meetings with russian operatives or russian intermediaries about the trump campaign. the idea that i was part of a continuing exchange of information during the campaign between trump surrogates and intermediaries of the russian government is totally false. taylor: two trump campaign officials spoke to the ambassador during the republican convention. it's not unusual for them to interact with diplomats. they are split on the paris agreement on a climate change. moderates in the administration believe president trump should stick with the agreement, even though he is pledged to withdraw. stephen bannon once out of the deal. rex tillersontate and the president's daughter of our want to stay in. theresa may has launched an attack against nic

let's get straight to the bloomberg first word news with taylor riggs. s. president trump is giving house republicans and ultimatum on the obamacare replacement bill. he said that they do not have to bill, he will move on to other property spirit republicans have not been able to agree on the measure. last night, the trump administration make changes to the bill to appease house in service, but that is not clear if it will win enough votes. mexico is expecting formal talks on the future of nasa to begin this summer -- nafta to begin the summer. mexico can live without the agreement. >> we have to prepare for all what is on theif table is something that is not good from its ago, mexico will step away from nafta. taylor: president trump has threatened to rework nafta, saying it is a bad deal for the u.s. in mexican foreign minister says a strong relationship with the president's son-in-law, jared kushner, is an asset for mexico. largest meatse the producer, brazil, has suspended almost all of its beef operations. want to see what other countries do with the

word news, here's taylor riggs. led their plant to repeal and replace the affordable care act. it would phase out parts of obamacare over several years. a requirement to buy coverage. those tax credits republican welfare. immigration -- the new measure is seen as less restrictive. the executive order is still a ban on muslims. iraq has been dropped from the list. in asia, a warning that will take necessary measures against the mississippi -- the missile system being deployed. north korea's testfiring of four ballistic missiles. in europe, british lawmakers are warning theresa may not to use brexit as an excuse to amend laws without proper scrutiny. committee lords insists the house of -- -- a global news, i am tayloray, riggs. this is bloomberg. tom: a stronger dollar. the vix migrating 12 to 11. sterling with a121. -- 121. francine: this is the final debate on the brexit bill. lawmakers may develop more on the say in the deal. the prime minister will forge with the eu overall. investors -- we see a bounce in minors,

here is taylor riggs. : taylor china calling on u.s. avoid a head-on collision, the chinese calling on north korea -- the u.s. was -- china's foreign minister wants to get north korea back to the negotiating table. in the u.s., a new twist in the covers he of donald trump's presidential campaign and the russians. last april, the president met with the russian ambassador even though the spokeswoman said he is zero involvement with russian officials during the campaign. white house officials say the encounter was brief and non-substantive. and europe, theresa may is fighting back against brexit revels in her own conservative party. they handed her a defeat in the house of lords. the upper chamber we wrote her brexit bill to guarantee parliament a meaningful vote on the accounting -- on exit talks, she will try to get the changes reversed when it goes back to the house of commons. saudi arabia, then and russia are have a united front on russian -- on oil cuts. the saudi oil minister says global crude inventories are not going as quickly as

taylor riggs is here. europe, a warning on brexit.leaving may be confrontational. >> the u.k. has rejected the suggestion a paid $65 billion to leave. in return, he wants immunity. >> plan was forced out after misleading michael flynn about the russian ambassador. china has expressed optimism, but president trump is predicting it very difficult discussion. he is blame job losses on the chinese. momentumia, increase for the world's second-largest economy. factories have been rebounding since the middle of last year. >> let's get right to it. lots to talk about. oil with a liftoff. fix --the pleased on the the vix. the dollar mexico -- it went long peso. we are almost at the end of a quarter that was pretty good. this is what we are seeing overall. investors -- little reason to storyhares higher and my is the rand tumbling. this is a chart about net worth to disposable income. the glory years and then they got a little volatile. >> this is what i'm looking at. you are seeing a little bit of volatility. this is after the south african pr

let's check in with "first word" with taylor riggs. eu president donald tusk says he hopes the u.k. will be a partner even after leaving the bloc. british prime minister theresa may said brexit is a zÜrich moment from which there can be no turning back. anxious --on, if you a few anxious moments new the capital. a cruiser was brand-new the capital and this ramp near the capital. at one point -- a cruiser was rammed near the capital. familiar with the matter say the president's chief economic advisor will be among those conducting a briefing. one of their proposals is the border adjusted tax. that would replace the 35% corporate tax with a 20% tax on domestic sales and imported goods. bob dylan, winner of the 2016 nobel prize for literature come will get his metal this weekend in sweden. he did not attend the ceremony in december, saying had other commitments. global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. i am taylor riggs. this is bloomberg. mark: back to brexit. what happens next?

first is taylor riggs. wanted to look ahead at the fed meeting and a look at the short-term yield curve and where u.s. and u.k. bonds are trading at that.i give the spread between the u.s. two-year and the u.k. two-year. usually, the sprint is negative as the u.s. yield is lower. there is nothing new about that. that is what should be expected. look at 2016.everything changes . we spoke to two people on "bloomberg surveillance" this morning that were explaining this dynamic to us. in the u.s., we are raising rates faster sooner. the u.k. not happening at all there. said theome strategist economy is on a gradual down path slower. .ou can check out my chart here vonnie: just about the yields in the u.s. and the u.k. mark: can i just say, happy international women's day to you both? anything to boost my chances of winning. vonnie: i already said it to tailor. too late for that one. you have to think of something else. mark: it was a week ago that i did a chart on japanese inflation. first increase since decemb

i am taylor riggs. this is bloomberg. tom: thank you. this is the data out of the bloomberg. then we will go to london. 114curve is flattening at basis points. oil with a $47 handle, $47.17. there is a weight to oil. will join us on the equity markets. a cell, 19.03. -- the peso, 19.03. guy: any to think about how markets are set up. we have been talking about what is happening on the hill and how health care will affect the future of this administration. waiting and watching, trying to get a clear idea. in terms of the cable rates, sales data will have a bigger effect beyond yesterday's terror attack. the muscle memory is you do not trade terror attacks. it did ripple possibly into what is happening in france. it is interesting how mr. macron reacted. tom: here's the polls of the american confidence. the optimism of the 1990's, the bloomberg consumer comfort index. here is the challenge, the great recovery, you wonder where this will be in three months or six months given the legislation and distraction the president fac

now to the bloomberg first word news, here is taylor riggs. >> in the u.s.ntelligence committee will question fbi director james comey about president trump's claims that barack obama wiretapped him during the campaign. comey says he has seen no evidence to back up the president's claims. he will testify about russian meddling in the election. scotland's leader says it is not reasonable to make scott's wait until 2021 for another vote on independence. they accused british prime minister theresa may of being intransigent on the issue. she is negotiating for the u.k. to leave the eu. they say a vote in two years will be a fair compromise. the leaders of germany and japan have called for a concerted effort to defend free trade. angela merkel and shinzo abe are advocating a trade deal between japan and the european union. they say it would underscore the benefits of an interconnected global economy. and in asia, u.s. secretary of state rex tillerson used a 24 hour trip to beijing to reassure chinese leaders about the trump administration. after meeting with chin

here is taylor riggs.g to arrest the former president on graft allegations. they asked a court to issue an arrest warrant. there are allegations that she colluded with a form -- longtime friend. president trump has lashed out at republican leaders and conservative groups following the defeat of the health care bill. on twitter, the president criticize the house freedom caucus, heritage foundation and the club for growth. a vote oners scrapped the replacement for obamacare largely from a pot -- opposition from republicans. the president of emirates airlines says there have been no complaints of travel -- from travelers who were not allowed to bring their laptops on board. the airline is watching to see if the u.s. ban on having larger electronic devices on board have the -- has an impact. if demand diminishes the reasons of issues that are being raised or whatever actions the united states government takes, we will have to adjust accordingly. taylor: clark says he believes the u.s. imposed the ban to a -- i

battling it out today, we have taylor riggs and alix steel. you cannot take my spot.g a look at the banks. we saw jeffries reported earlier how they think the larger banks will perform when they report next month. i tracked the s&p in blue versus the regional banking index and white. i normalized it back to 2015. the s&p really outperformed until the election. then, the regional banking index really took off. they outperformed 20% versus the index in 2016. the issue going forward is a lot of it is based on expectations of deregulation and tax reform. we have the health care vote today. if that doesn't get through and tax reform seems to be off the table or pushed back, you will see some of that dip down. they are about even for 2017. that is a catalyst going forward as we see the vote today and expectations of tax reform and deregulation. oil. i'm talking about katanga is back. oil andthe curve of this is positioning. of 2017n december against the prices for december 2018. this is when you have cheaper prices now versus the future. contango 30 days ago. here is the wh

i'm taylor riggs. david?id: house republicans decided not to bring the american health care act up for a vote. there is concern about the rest of president trump's agenda. over his ability to usher in tax reform. investors say the trump rally could fade a little bit. we look at the unwinding of the trump trade. it's asked charles, a veteran of institutional investors and president of capital alpha. joining us from washington, d.c. let's talk about tax reform. i imagine the first question on your client's minds is this going to happen? david.to some extent, they are concerned if we move in a direction of the benefits from seem to be they diminishing and the timing seems to be diminishing as well. a slippery slope and the passion for it begins to decline. at that point, the trump trade would be fully unwound. we don't think we are there yet. listening toe you for guidance on a timetable in particular? who are you listening to? charles: it is really like a three ring circus. health carent, the reform, affordable

this is a taylor riggs rule. stanford for tweeting out our use of his rule. we're honored that officer taylor would pay attention to bloomberg. he watches it every morning at 2:00 a.m. i don't know how he does that. the taylor rule way out front. i overlaid on this the dots. three year.o year, do you care the dots are that far behind in the rule? >> no. tom: can you expand on that? >> clearly, if the taylor rule was correct, the economy would our headg so hard that would be spending. inflation would be much stronger than what it is full clearly, none of those things have happened. it is hard to argue the fed is behind the curve. maybe it is by no taylor rule, but i can speak to a flaw in a feature of the taylor rule. interest rates are not the 2% for they have assumed to be all this time. tom: and dazzling our global withnce, kim schoenholtz the taylor rule, the me get rid of these previous marks. i can do that. nehru. is the plug-in of whatever nehru is, do you have a clue where nehru is within the taylor rule? >

there is a $30 price target and steel versusx taylor riggs in the tournament of challengers.out it for a reason. she feels the pressure. alix steel is competitive. i am competitive? what? that's not true. [laughter] go to the bloomberg terminal to check out tv , you can interact with us daily. just go to the tv terminal. we can respond to you. this is bloomberg. ♪ are on capitol hill today. you are looking at a live shot. health care in contention as congress is set to vote today on the proposed bill. joining us from washington on the latest on the health care bill is kevin cirilli. a busy morning on capitol hill. it is expected to be sometime today. didhouse speaker paul ryan meet moments ago with top republican leadership in the room over there across that hall. au know, clearly, this is full bill and they won't bring it to the floor unless they feel the have the votes. alix: what is the procedure if they don't get it through? many congressmen say it is ok, they will go right to tax reform. what is the procedure? be able to.want i put this question to a representat