trey parker i want to start with you. on treasury yields around 2%, with gdp growth around 2.5%? trey: it is tough to reconcile the two. you have inflation 1.7%, below what the fed target is. you have gdp around 2.5%. something is wrong. i think the bond market is mispricing growth, so we have a different view from robert. we think there is an under expectation of growth and a lot of the technical aspects, continue to look for relative spreads or relative yields elsewhere in the world is perverting the market. i think the other thing that is amplifying that is a general tale concern of some of the geopolitical issues whether it is harvey, irma, or korea. i think those are all things weighing on investors' heads. so you see equity markets at or near all-time highs and bonds are 2%, we think technicals is a key factor. jonathan: let's get into it more. the burden of proof so far has been on the high yields -- pgim has been dead right. going forward, have we had capitulation yet from the treasury bears at the beginning of the

pgim, eric stein of eaton vance, and trey parker of highland capital. tense, and 30's making new lows. we are down 11 basis points on the 10-year. vogue again.her in a bank of england rate decision. we will discuss in just a moment. this is "bloomberg real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." time now for the final spread. goldman sachs revealed a plan to turn around performance of its core bond trading unit. apple with a much awaited launch of the new iphone. a state of the union address, not sure how many people are waiting for that. the bank of england rate decision on thursday. and we get retail data and inflation from the u.s. on the same day. with us, robert tipp of pgim, eric stein of eaton vance, and trey parker of highland capital. considering the events of the last couple weeks, is it going to be a couple of months for this to come through? >> i think there is definitely going to be a few months of pause in economic activity, a lot of it depending on the extent of irma hitting florida. harvey you are a soft

robert tipp, eric stein, and trey parker.ing up on the program, the auction block the day after the u.s. holiday labor day was one of the busiest so far for investment grade corporate bond offerings. we will bring your wrap in just a moment. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." i want to head to the auction block now. before the debt ceiling deadline was pushed back to december, we had a bit of a nervous market ahead of some bid auctions . look at this past tuesday's full week treasury auction. investors demanded the highest rates since december 2008. $20 billion in bills sold at 1.3%. over in corporate's investors clamoring for bonds now that august is over. blue-chip u.s. and european companies lined up to sell. one of those was apple. they sold $5 billion in four parts. the longest portion of the l -- a 30 year security with the yield of 1.4 percentage points. comcast, investors still buying media debt in a big way. discovery communications sold six point $3 bil

recently the creators of south park trey parker and matt stone announced they wouldn't be doing cheap trump jokes on their upcoming season because they said they didn't want to become the annette and which to me proves that they at least can still be funny but since we live in a p.c. world gone mad of course they received a ton of backlash news busters dad or and recently did a good breakdown of some of the backlash they've received first they point to a daily beast article entitled south park has the donald trump problem but apparently the daily beast are the ones with the problem not south park who seem just fine with their decision to not become like any of the other stupid late night comedy shows who all say the exact same trunk jokes over and over like they're playing peek a boo with a baby or something. the daily beast actually ponders in this article what responsibilities south park has in the age of trump they actually try to say that south park a show with a stone or towel for a character and talking coop has a responsibility to join their very serious and army. next news bus

. >> trey parker and matt stone were two of the funniest people i ever met.ple think, oh, you came and did the show and now you're big sellouts. the truth is, we were sellouts to begin with. >> perhaps there is no stopping the corporate machine. >> i mean, we were sleeping at friends' houses, had no money and one fox executive had seen a cartoon we had made in college and he said, make me another christmas video i can send out as a christmas card. he gave us like 700 bucks. we went and made this five-minute short. >> i come seeking retribution. >> he's come to kill you because you're jewish, kyle. >> oh [ bleep ]. >> it went around the tv community like wildfire. >> i mean, it -- it was the funniest thing you'd ever seen in your life. >> go get 'em! >> somebody showed me the short. >> go, jesus. >> i thought it was hysterical. i called and said get them in here right away. >> oh, my god! they killed kenny. you bastards. >> "south park" was able to be topical. >> "south park" really, really detests hypocrites. >> christians and republicans and nazis, oh, my! >