here's taylor riggs. taylor: president trump has switched policy and ordered the commerce department to help zte stay afloat in the united states weeks after banning the company from buying american technology. he tweeted that he and president xi jinping are working together to help the chinese telecom company. it is a major turn for trump, who has accused china of stealing american jobs and technology. the u.s. is ready to allow investment in north korea once it has proof of its denuclearization. that is according to president trump's top national security officials. john bolton told abc's this week that we are prepared to open the trade and investment with north korea as soon as we can. secretary of state mike pompeo went further in an interview on cbs as he talked of the potential for u.s. investment in the country. duo have allist but completed a government plan that includes a tax, guaranteed income for the poor, and a lower retirement age. luigi of the antiestablishment five-star movement told the ne

[laughter] let's get to taylor riggs. e a mistake to move away from an iranian nuclear deal. in the "new york times," he said he has the fewest disadvantages among the options to ensure iran never gets a nuclear weapon. he says negotiators are close to a deal that would address president trump's concern. the president threatened to pull out of the deal by the anything of this week. is president trump's lawyer leaning against having him sit for an interview with special counsel robert mueller. rudy giuliani told abc news that the interview would be a trap. the also said president trump would not have to comply with a subpoena from moeller. that is a hot topic for legal experts. the french government is warning that air france will disappear if worker unions keep blocking reform. lemaireminister bruno says union demands could sink the largest airline. after failingdown to reach an agreement with employees. leslie and starbucks reaching a million dollar deal. -- nestlÉ and starbucks reaching a multimillion dollar deal. nestlÉ

. >> earlylet's check in on the bg first word news with taylor riggs. ylor: president trump meets the point person on trade today. that is according to the president haughey's chief economic advisor, to try and resolve the dispute that threatens to turn into a trade war. the white house is working out the format of the summit between president trump and north korea's kim jong-un. these sides have not decided how much time leaders will spend one-on-one. it is a question of whether the countries will be invited to if u.s. and north korea move on to full negotiations on nuclear weapons. in italy, populist parties have reached an agreement on a coalition government. the anti-immigrant league chief agreed on a policy program after days of talks. one provision has been an overhaul of italy's banking system. the parties have not agreed still on a prime minister. global news 24 hours a day on air and on tick tock on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. caroline: the amazon a

taylor riggs has more. : china is willing to compromise on trade, according to people family with the plan. it will cut the import duty on passenger cars from 25% to 15%. that could be seen as a concession from beijing to presidential. it will be a boost to foreign luxury automakers such as bmw because less of their production has moved to china. there is a report that the u.s. and china has agreed to resolve the seven-year ban on a telecom maker zte buying american technology. according to "the wall street journal," the details are being worked out but they would involve changes to management at significant fines. secretary steve mnuchin mnuchin is speaking in the senate right now. he says the u.s. will enforce national security when it comes to zte. south korea is so confident there will be a summit between the u.s. and north korea. the national security adviser picks there is an undeniable 9% chance of kim jong-un -- there is a 99.9% chance of contentment meeting with president trump next month. bank of e

let's go to taylor riggs. leader who led weeks of protests has been elected prime minister. supporters are hoping he can do something about widespread corruption and poverty. maintainsty party control of parliament. european allies of all body president trump to stay in the iran nuclear agreement. the president has called the deal the worst deal ever. u.s. and european diplomats are trying to work outside agreements that would address his concerns. the announcement is due at 2:00 p.m. eastern . a wall street watchdog is putting over accusations of physical abuse. new york state attorney general eric schneiderman resigned last night. a new yorker article of for women claimed physical abuse. ae government is forecasting $1.6 billion surplus in 2020, australia's first since the global financial crisis. cutrs will get a modest tax for low and middle, earners -- and middle income earners. the house of lords is expected to remove the fixed timing of brexit. lawmakers are likely to allow future governments to take pa

here's taylor riggs. taylor: president trump is setting hawkish messages to beijing days before trade talks told him is moving ahead with sections on $50 billion of chinese imports. the white house says the final list of the imports will be released by june 15. both of the u.s. and north korea are signaling the summit is still on. kim jong-un has sent one of his aides to the u.s. for presummit talks. he is one of north korea's former spy chiefs. president trump tweeted that it is "a solid response to my letter." in belgium prosecutors fear that an attack that left 4 dead may be terror related. police say a man stabbed to police. , stole their weapons, and shot them and a bystander. the attacker was killed by police. canada is getting into the pipeline business. the government has agreed to buy the tina martin trance mountain thepipeline and controversial pipeline extension to make sure it gets built. the price is $3.5 billion. the product has been slowed down by protest from environmental groups and the pr

here is taylor riggs. taylor: the european union does not like president trump's decision to temporarily delay steel and aluminum business. the eu across the uncertainty that for business and says the bloc should be granted a permanent exemption. the un's nuclear agency says it coordinatedn had nuclear weapons program in place before 2003 but found no credible indications of such work after 2009. the issued their assessment a day after israel he prime minister benjamin netanyahu made his own presentation. netanyahu said there is a half ton of seized documents proving iran has lied about its nuclear tension. president trump is striking back. "the new york times" reports that special counsel robert mueller wants to ask the president questions involving russian meddling in the election and his actions in response to the probe. president trump called the report disgraceful leaks about our phony crime that never existed. -- a phony crime that never existed. global news 24 hours a day and on twitter powered by 27

here's taylor riggs. opean union face an uphill battle to keep the nuclear deal alive. president trump's decision to withdraw from the agreement is likely to deter european businesses from doing business with iran. iran's president says he will keep working with other investments. for the first time in seven years, there's a three-way summit taking place between japan, sign a -- japan, china, south korea. the three countries disagree over the way to deal with north korea and its nuclear weapons program. choice to head's the cia is promising the spy agency won't resume waterboarding and other techniques that happened called torture. gina haspel once helped supervise those methods. in west virginia, voters handed a victory to republican leaders. they nominated state attorney general patrick marcy as the party candidate for u.s. senate. president trump had urged them to reject the anti-establishment campaign of former: executive don blankenship. -- former coal executive don blankenship. global news 24 hours a

here is taylor riggs. or: north korea still open to the idea of a summit with president trump at any time. wasjong-un's regime says it surprised by the president's decision to cancel next month's meeting. the vice foreign minister north korea says he helped the trump formula with the killer deal between the countries. christine lagarde is urging turkey to maintain the independence of its central bank. the president of turkey said he would maintain power over the central bank if he was reelected. the turkish lira plunging. >> in terms of monetary policy, it is always better for all political leaders to let central bank governors do the job they have to do and secure their independence. i think some of the comments may a limited the international community and investors to the fact that suddenly the central bank of turkey could be under instructions, directions, influence. that has created a sense of uncertainty, lack of confidence, which has found its way in the markets. aylor: erdogan has pledged to follow

right now in new york city, your first word news with taylor riggs. of trade talks between the u.s. and china have wrapped up and there's plenty of work to be done. china's official news agency says the two sides reached consensus on some issues that major disagreements remain. documents seen by bloomberg, the u.s. wants china to reduce the trade deficit by $200 billion by the end of 2020. beenbi reportedly has monitoring the phone lines of president trump's personal lawyer michael kellen. agents had the ability to see who called, but they were not able to listen in or recall. there was one call between the andhael pence phone the white house. is accused of conspiracy and wire fraud. ceo dayswn as after the scandal was revealed. kilauea has spewed lava into the skies and residential areas after earthquake. some neighborhoods were ordered to evacuate. some described it as a curtain of fire. global news 24 hours a day and on twitter powered by 27 journalists and analysts in more than 120 countries, i'm tyler taylor riggs. this is bloomberg. francine: ge

taylor riggs with the latest on gaza. owed to keep protesters from storming the border. at least 59 palestinians were killed and 1200 more were wounded and -- in monday's confrontation. palestinians say putting the jerusalem undermines their own claim to east jerusalem. withteve mnuchin six china's vice premier liu he -- steve mnuchin sits with china's vice premier liu he. -- the president says he is working to get zte back in business. about to get a reprieve from the volcker rule. u.s. agencies are preparing to presumptionrictive that most short-term trades violate the posts recession rule. italy, populists trying to form a new government are headed into overtime pay the leaders of the five-star movement are trying to nail down the final details of a coalition plan. the president agreed to give them more time. their plan is to cut taxes and rollback pensions, which could be destabilizing. global news 24 hours a day on air, and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 count

i'm taylor riggs.be holdings is adding to the portfolio and it includes panera bread company the company is buying the sandwich chain from break point advisors. terms of the deal were not disclosed. according to a person familiar with the matter, the purchase price is about $2 billion, including debt. nissan will cut vehicle production in north america this summer because of a sales slowdown. the automaker will reduce workers' hours and output as much as 20%. it wants to improve profit in the u.s. rather than sales growth. there is a report that the british government may begin selling part of its remaining stake in royal bank of scotland this week. according to sky news, the sale --ld the delayed by sky market conditions. u.k. owns about 70% and acquired it when it they'll doubt the bank during the financial crisis. that is your "bloomberg business flash.". all about the italian crisis. to your bond yields over in italy surging the most since the euro came into existence. it is now around a 10 month l

i am taylor riggs. let's take a look at what is going on as far as the vix volatility index. two straight sessions of gains for the s&p 500. you can ask whether it is a chicken or egg sentiment. we are trading above that 13th handle. remember in february when we were about 35. as far as the dollar is concerned, looking at dollar mexican and dollar canada. pesorday, the mexican posting the biggest advance 2017.june of we are seeing a narrowing between the left-wing candidate and the right-wing candidate in the july election. gold benefiting from the inflationary sweet spot we are seeing as far as this one data point is concerned. because: im distracted david bloom is taking over the airwaves. he had real-time commentary on everything. he is one of our favorite -- david: you can on cross your fingers now. francine: it is basically about inflation. the fact that they are easing inflation pressures in the markets, maybe the fed will step up the pace on monetary tightening. it is now pretty much flat. >> i h

here is taylor riggs. ent is making a temporary retreat from a his hard-line trade policy to the white house said the president will delay imposing steel and e.u.,um tariffs on the mexico, and canada until june 1. saysdministration agreement in principle have been reached with argentina and brazil. there is a report that special counsel robert mueller has given a list of almost four dozen questions to the president's lawyers. they go from contacts the president had that his campaign russia -- manufacturing in the u.k. slowed more than expected to a 17 month low in april. that adds to signs that the poor first-quarter performance. continue. mant's second richest that on northrm korea years ago. need --to we naguib sawiris -- >> i did a lot of good stuff there, waiting for the moment when there is his, so i can reap some of my investment. awiris, meanwhile, says he has put most of his fortune into gold. global news 24 hours a day on air, and on tictoc on twitter, powered by more than 2700 journalists and anal

here is taylor riggs. taylor: the white house appears to be changing its story on stormy daniels.or $130,000 in hush money paid to daniels before the 2016 election. back comes from former new york mayor rudy giuliani, who spoke to fox news. last month he president said he did not know about the payment to daniels. president trump says stay tuned for news on three americans being held by north korea. the u.s. is working hard to gain release. possibleparing for a summit with kim jong-un this month or next. stores on u.s. military bases have quit selling chinese made smartphones. they pose a security risk to military personnel in operations. authorities say they cannot specify technical aspects. a setbackic figures for european central bank policymakers. inflation in euro area unexpectedly weakening last month, consumer price growth slowing to 1.2%. debateddies the over whether the ecb should pare back stimulus. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs, this is bloomberg..

here is taylor riggs. is racing to prepare for the revised summit with north korea. the administration expects the meeting to take place, but says clarization has to be on the table. a u.s. delegation is meeting with north korean officials and kim's top advisers is coming to the u.s. the trump administration plans to impose tariffs on chinese goods by the middle of june. china warns a matter what the steps the u.s. takes, and will defend its economy. justin trudeau says he would rather have no nafta than agree to a bad trade deal. he says it is still possible to get an agreement for canada, the win, but mexico to all made it clear he will not accept such hardline demands from the u.s. italy appears to be headed for another election in july. they cannot reach an agreement on a new cabinet meeting during a meeting with the president. they will meet again today. not form ald government, there could be an election and 60-70 days. global news, 24 hours a day on-air and on tic toc on twitter, powered by more tha

in new york on with first word news, here is taylor riggs. s feeling pressure from president trump. in agency has asked the specter general to determine whether politics has tainted the investigation into possible collusion into the trump campaign. that came hours after a justice department probe into whether the obama administration infiltrated his campaign. there is a truce and the trade war between the u.s. and china. it is not clear how long it will last. steve mnuchin says the u.s. set proposed tariffs on hold while negotiations are going on. a joint statement released makes vague commitments to rebalance trade. the u.s. is post reaching a deal toh canada -- not close reaching a nafta deal. treasury secretary steve mnuchin tells fox news president trump is focused on reaching a good deal rather than an immediate one. the administration had hoped to have a proposal for congress to improve this year. mark zuckerberg meets tomorrow with european government officials over privacy concerns. the parliament president has said mark zuckerberg has

here is taylor riggs. taylor: joining me is nisha patel, portfolio manager at eaton vance.have been talking a lot about green bonds. sometimes the market seems like it is a marketing gimmick come up there is a real investment thesis. walk me through why you like green bonds now. nisha: green bonds are issued to fund various projects that have a material impact on society. for example, you want to system could issue a deal to replace pipes with 100% recycled material types that should last 100 years. or it could use a utility system moving towards renewable energy and they are funding a project to build wind turbines. eaton vance is joined with one of our subsidiaries to create a framework to not only provide a negative screen and avoid sectors and issuers that have a negative impact, but to seek out the ones that have the positive material impact. taylor: talk to me quickly about friday. it is our june 1 reinvestment coupon season, but you have a lot of demand coming in. do we expect this season to outperform because of the demand coming in? nisha: yes from starting june 1

this is taylor riggs. ot have a chance to make good on his campaign promise to do a big number on the dodd frank act. the house has now passed and sent to the president a sweeping overhaul of bank regulations. reliefs smaller banks from postcrisis rules, but wall street did not get as much as it wanted. u.s. officials are still moving ahead with plans for president trump's historic summit with kim jong-un next month. the president is expressing -- that the meeting will take place. he says there is a very substantial chance it will not work out. the sticking point is the issue of whether north korea will give up its nuclear weapons. some european lawmakers are unhappy that facebook ceo mark zuckerberg left a number of questions unanswered. he did apologize for recent privacy woes. the european parliament president called on the is start. by theant the respect different companies of the rules of the european union. this is our engagement. with more work -- we will work hard in defense of our citizens, first o

let's get to the bloomberg first word news with taylor riggs. taylor: francine, mobilizing for even as carlo colts rally puts together a cabinet. the disconnect between the pro underscoreu. forces the country's widely political goal in with a general election november, theyas are talking about a new period of uncertainty for the area's third-biggest economy. kim jong-un asked one of the top aides to the u.s., holding talks with a summit with donald trump mixed mustard that is according to people familiar with the user -- issue. the nudes agency reported -- the news agency reported the secretary of state will meet mike pompeo on this trip. public fernandez to cause the at the country's central bank in pablo fernandez de cos ta appointed to the country's central bank in spain. he will be ratified. the bank of england addressing unrest when the u.k. bank and the central treasury. the institutes are loggerheads over the regulation after brexit. 's depth and governor for stability has fallen out over concerns it would give away regulatory control afte

i'm taylor riggs. this is bloomberg. guy: thank you very much, taylor. as the architect of donald trump's 2016 campaign, has condemned the president's decision to hold off on imposing tariffs on china. he spoke to our senior writer, stephanie baker, in prague this morning about how he would handle a trade situation. steve: the best thing to do with china is a confrontation, not a confrontation where you try to go to war with them. they're already at trade war with us. but a confrontation to them them we're firm in these beliefs, we're not going to let you steal our innovation, not sit there and basically rape silicon valley. it's not going to happen. guy: that issue still seems to be out there and one that the market is certainly paying attention to. but, of course, that was former advisor steve bannon. ining us now, still with us, good morning to you, george. george: good morning. is trump winning? george: no, i think what it is, it's china basically doing trade negotiations much more skillfully than the white house is able to do them. i mean, it's a ni

i am taylor riggs. this is bloomberg.currencies, not as chaotic as yesterday. we need to triangulate where are we after what we have seen in the last few days. the curve is flattening. a pause off of the two day move. oil is still elevated. the vix backing off of lower equity prices. was 3.09. 3.06 right now. .76. crude 77 gold is not so much a trend that a drop. now.e at 1293 right francine: european stocks edging higher. downward.ed treasury yields are steady after the spike yesterday. the dollar is also flat. oil declined. we did have news in the oil market. $70 crude is putting a break on consumption. i'm following everything to do with italian yields. tom: i'm going to go with serious charts. this is a brutal chart. i love the word portal and all that means for mathematics in the physics of the business. move one, the dollar chart. it is a bundled chart. really good math. your we are with two standard deviations. we blow in april 2 some real volatility riding around. i'm sure we will get to this with geoffrey yu. thi

taylor riggs has more. or: president has changed his story about adult film star stormy daniels. in a tweet today, he said he reimbursed michael cohen for the $130,000 in hush money paid to daniels. arrangement was improper. president trump called the claim that they had an affair false. high-level a delegation could determine whether there was a trade war with chinese officials. a former jeffries cheater is serving prison -- serving time for bond prices. serving a two-year term. the government passes decision to pursue criminal charges against traders who deceive clients durg bond negotiations. iran poses foreign minister is criticizinideng pres trump withdrawing from the nuclear deal. mohammed posted a video on social media's in iran met all of its obligations laid out in the deal. president trump has signaled he will withdraw by may 12. global news 24 hours a day on air and on tick tock on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. breaking n

i am taylor riggs.ktime growing short for a nafta deal, canadian prime minister justin trudeau is holding his ground. flanderswith stephanie yesterday and said he would rather the trade deal died altogether rather than accepting hard line demands. >> i will stand up for canadian interests. i will only sign a deal that is good for canada, and no nafta is better than a bad deal. we have made that very clear with the president. david: still with us is ben mandel of jpmorgan. you are a trade economist. explain all this to us. how big a risk is trade? it keeps coming into the headlines. ben: it is a persistent headline grabber. i would argue you are making some progress on the trend terms. you have nafta, steel tariffs, and the china ip. on nafta, they are coming to some progress on the rules of origin. in the auto industry, it is very important and could open up the possibility of a deal being made in the near term. on steel, it is basically haggling over the price of what is acceptable in terms of how many

caroline: now it's that time, the muni moment with taylor riggs. taylor.lor: hey, caroline, and ofning me today is the ceo muni at invesco. the rates just hit a 10-year high recently. you find is attractive in the rising interest-rate environment? >> thanks, taylor, good to be here. the fed is normalized on the short end of the yield curve -- the same thing for the municipal bond market. these variable rates and demand notes reset on a weekly basis. it is very good on a short-term strategy. some of the shorter and the duration funds are using the strategy because the price is very stable and the rights move up as the fed moves up. the flipside of that is the closing funds issued these of the cost of borrowing is going out very slowly. i could put pressure on dividends -- that could put pressure on dividends. for the short strategies we like the variable rates. taylor: another thing we saw this week was detroit. -- what was happening since the exited bankruptcy. i'm not sure detroit is out of the water you. would you be a buyer? mark: they are still very de

first word news, here is taylor riggs. g flexibility on the upcoming summit with kim jong-un. the white house, from john bolton, who proposed a plan in which north korea would propose banning nuclear weapons. north korea threatened to walk away from the summit. top economica's advisor on unfair actions. this weekashington for talks with the administration on resolving the dispute. ahead of the house ways and means committee, kevin brady says he urges him to seize the moment and address concerns. in italy, the populist party trying to form a government, they have almost wrapped the program. the leader of the antiestablishment five-star movement met with the lead chief today. they dropped the request that they write off almost $300 billion in debt but they will keep the call for tax cuts. grocer, kroger has agreed to buy a 5% stake in a deal in which home delivery technology would be licensed in the u.s.. the company may open as many as 20 automated distribution centers in the u.s. within three years. global news 24 hours a d

let's check in on the first word news with taylor riggs. taylor: the trump administration has a warning for iran now that it has left the nuclear agreement. mike pompeo is threatening the strongest sanctions in history. pompeo demanded that iran hold uranium ballistic missile programs and give nuclear inspectors access to the entire country. for the first time, president trump is using the authority of his office to counter the special counsel's russia investigation. the president is demanding that the justice department look into whether the obama administration infiltrated his campaign. it agency responded, saying has not asked the inspector general to determine whether politics has tainted the fbi's role in the russia probe. china is planning to lift all limits on the number of children families can have. that's according to people familiar with the matter, who say the move could happen this year. it would be a historic and to afford decadal policy that left calais human rights abuses. it also left china short of workers. global news 20 f

let's get to taylor riggs. or: breaking news of the president trump has canceled the summit with north korea's kim jong-un. the president cited what he calls anger and open hostility in recent statements. it is unclear what happens next. said if theump has summits were to fall through, the u.s. would continue exerting maximum pressure on korea. america's allies don't think much of president trump's push for tariffs on cars and trucks. it could lead to a breakdown of multilateral trade system here the german chancellor says her country is committed to fair and free trade. reduce tariffs on a wide range of imported consumer goods. forrprise jump last week first-time applications for unemployment benefits. by 11,000.ims rose the latest number is consistent with a tight labor market and is off from the 48 year low. the off from the 48 year low. the government comes out with its may jobs report next week. the u.k. believes the kremlin was behind a phone call to form an secretary -- former secretary boris johnson. he

mark: taylor riggs has the latest from new york.sident trump's personal lawyer was a big mistake according to at&t. the washington policy chief who hired him is retiring. michael cohen thousands of dollars a month for a one-year contract. president trump will oppose a sweeping effort to lower drug prices today. the plan is designed to increase competition among drug makers lower patient costs. it does not go as far as the president once threatened and now having the government to negotiate some prices directly. russia says intelligence agencies foiled a terror attack in moscow. it marks -- marked the end of world war ii. a russian diplomat in siberia headstock piled weapons for the attack. president vladimir putin attended the parade with israel's prime minister benjamin netanyahu. in malaysia, a new prime minister said the king is willing to part in a key jailed opposition politician immediately. he is the de facto leader of the alliance that won the election earlier this week and is expected to take over as prime minister once he

here is taylor riggs. taylor: the u.s. dramatically ratcheting up scrutiny of the digital currency market. the justice department has opened a criminal investigation into whether traders are manipulating bitcoin. authorities worry virtual currencies are susceptible to fraud for a number of reasons. the trump administration has started an investigation that could lead to new tariffs on imported cars. the issue was whether foreign vehicles that national security. that was the same argument the administration and vote for imported steel and aluminum tariffs. novicey, the political to be the next prime minister has begun the search for a new government. he has to form a new administration that will establish by the popular parties backing him. he is meeting with the parties today. erdogan has surrendered to the market, monetaryallegiance to policy. he had repeatedly opposed rate hikes, calling them the mother of all evil. deutsche bank has made it official. job cuts on the way. the biggest lender in germany and cut jobs by one

for that, we turn to taylor riggs with the "first word news." p is using the authority of his office to counsel sash to counter the special counsel's russia investigation. the president is demanding the justice department look into whether or not the obama administration if treated his campaign. the agency responded, saying it has asked its inspector general to determine whether politics has tainted the fbi's role in the russia probe. the country's may newspaper is reporting that -- is the front runner to head up a new populist government. ofe verily has the backing the anti-image -- anti-establishment movement and the anti-immigration league. mark zuckerberg meets tomorrow with parliament numbers -- european parliament members over -- lawmakers want to know how the data of up to 2.7 million europeans could have ended up in the hands of cambridge analytic. global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists and analysts in more than 120 countries. -- cambridge analytica. global news, 24 hours a day, on

francine: here is taylor riggs. e has been a major escalation that inches israel and iran closer to full-blown contract -- conflict. -- israelurces filed says there were no casualties on its side. had thiss the israelis hit ammunition storage in radar facilities. rbs has tentatively agreed to pay $4.9 million to settle a long-running u.s. investigation into mortgage backed securities. the crisis.rbs for the bank will be able to resume dividends. cte has suspended all major activities after the u.s. crippled its ability to buy crucial american technology. to resolve ats seven-year blockade imposed for violating the terms of a sanctions agreement and lying about it. mentioning, in italy, the chances of a populist government have gotten a big boost. silvio berlusconi dropped his opposition to the idea. open to theed he is antiestablishment five-star movement and anti-immigrant .eague ruling together they have until later today to form a government. global news 24 hours a day on air and @tictoc on twitter, powered by mor

vonnie: and here is taylor riggs. : joining -- join me today is the strategist over it morgan stanley. it is great to have you. we have talked a lot about could be from a credit perspective and some could be from an interest-rate perspective what are you more worried about? >> thanks for having me on it we are more interested in interest rates right now. market with a credit problem. the market is more or less a rates market. they tend to react with return and volatility and interest rates. a moment this year where it is driven by low volatility and flatter curves and what if it goes the other way? it is not our view but we are mining things like this statement to see if it will run a little hot. curve, we think that could lead to an underperformance. >> we talk about the yield curve and you talk about how you are to ration usual at this point. can you walk me through the trade? >> you are supposed to let bonds be bonds. the acid eloquent -- allocation framework, they are supposed to get you carrying come. they cannot

here's taylor riggs. g momentum, with the slowest growth rate in six quarters. theoses a challenge for european central bank, deciding whether to ease back monetary stimulus measures. is trump administration downplaying prospects of a breakthrough in trade talks with china. a delegation of senior u.s. officials is preparing to visit china this week. u.s. trade representative robert litehizer says they could spend the next year to figuring out how to deal with each other. just six weeks ago, only 10% of those surveyed approved of can .ump on -- of kim jong-un south korean president moon jae-in came in at 86%. global news 24 hours a day, on air and on tictoc, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. francine: thank you so much. it turns out mark mobius isn't one for retirement. the investment manager has set up a new firm to invest in and frontier markets. mobius capital partners has yet to lineup outside investors and once to raise a

joining us with more is taylor riggs. explain. this is surprising because often when we talk about tax reform, we talk about the benefits. this company is seeing a different shift. they went back and looked at a new version or implementation of the law that would hit their net income harder than they thought due to a foreign tax credit they can receive. they revised down earnings-per-share. they also lower their next quarter earnings-per-share to 1 09 from 112. they raised the lower end of their guidance for revenue. we can break it down by business segment. you can see health care is their second-largest by segment. that has been a key push. in orange, the financial service companies are really making a push to cloud computing. vonnie: how is the data the services? cloud computing has been good for them. you have these companies choosing to spend their i.t. budget to go to the digital sector. this company gets 20% of their revenue from digital. they are competing against large companies, some more traditional and some more focused

outside of the business world, we turn to taylor riggs for first word news. or: north korea still open to the idea of a summit with president trump at any time. the regime says it was surprised by the decision to cancel next month's meeting. north korea's foreign minister says he hopes the trump formula will lead to a deal between the two countries. iran trying to get the crisis from getting worse. according to a top official, to ron want to europe to come up with economic guarantees by next month. among them, continued access to international finance and keeping oil exports at current levels. and harvey weinstein will be charged with rape. according to law enforcement officials, he will surrender to police today in manhattan. a number of women from around the world have accused him of sexual assault, and those of stories spawned the global me to movement -- too movement. global news, 24 hours a day on air and on tictoc, powered by over 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. julia: thank you. investors ac

vonnie: taylor riggs, wonderful chart. on the money. very relevant. ly has had a pretty run of things. battle winner will be kevin kelly. mark: i was there. kevin had it and taylor bowled me over with my regional bias. how thelking about spread could go up to 300 basis points. i am going for taylor which means it goes to the gallery and taylor is the winner. i am sorry. well done, taylor. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. mark: i am mark barton in london and this is the european close on bloomberg markets. vonnie: time for the stock of the hour, the gap, worst in the s&p 500. down 14%. foot locker is up 14%. abigail doolittle here to tell us why. ga,p ontores in retail pace for the worst day since 2016 after they put up a disappointing quarter. the turnaround has been lumpy. two quarters before that were positive and last quarter they were down. the overall cop was up 1% versus the estimate of 1.5%. disappointing for investors is the fact the weakness at the flagship store the gap where they are blaming excess inventor

i am taylor riggs. this is bloomberg. vonnie: taylor, thank you.nt to repeat that president trump says there is a location and a date set for a meeting with north korean delegation. it is an important thing to address, because we know that the president has been planning to meet with the north korean leader at the end of may, perhaps early june. looks like things are really progressing on that front. the president saying on his way to dallas that there are things happening with hostages already, and the trip is being scheduled. again, a date and location has been set. off to omaha. berkshire hathaway's annual shareholder meeting, the so-called woodstock of capitalism, takes place this weekend. attendees can expect everything from a 5k road race to a state dinner, and wisdom from the men of the hour, warren buffett. shareholders are looking for plan,ce on the succession health care, and this new news that he is loading up again on apple. joining us is someone who covers berkshire hathaway for bloomberg and is in omaha. we will get earnings on saturd

i am taylor riggs. this is bloomberg. vonnie: thank you.an sachs finance conference is underway. the deals reporter is on the west coast now. we can see the ocean in the background. >> that is right. thank you. i'm here with the cohead of the investment bank. thank you for having us out here. it is stunning. you set in almost at this exact same spot last year and said it was a great market to sell to it is that the same today? >> i would say the market continues to be attractive. historically and below investment grade financement, this is a good time to access the marketplace in the market is vibrant. -- performance seems to be good and inflows are strong. this year, we see more volatility. someone with a broader market involve -- environment. for this yearugh and not quite as singularly good . we have seen more discerning behavior on the side of an bester's who are more focused on seasoned credit, credits they understand and know well unless desirous of riskier and often run story credits. >> we have seen risks taken on m&a. that,al downg

i'm taylor riggs. this is bloomberg. vonnie: thank you. signals today it could fill in any supply of gas sparked by u.s. sanctions on iran. wtitrading slightly higher, above $71 a barrel. withberg spoke extensively bob dudley. >> what we're seeing is a withdrawal from the agreement, which seems to be another negotiation. you could lead to one million barrels a day off the markets, and that will affect things. there is a lot of uncertainty. that is more reflect the -- reflected in what is happening in venezuela. vonnie: we are joined now by abhishek deshpande, jpmorgan head of oil market research and strategy. thanks for joining. cold changed from the iran deal -- call changed from the iran deal? paul: it -- abhishek: it plays well with what we were expecting. since is not being extended was part of our risk scenario. as of now, we believe there is a higher probability of prices remaining higher and going towards $80 plus benchmark for us for the rest of the year, at least. next year, the risk will play out differently, where we believe tha