u.s. federal reserve's rates. decision. welcome to your business so mega is in the making german steel company to cope and its indian rival tata have agreed to consolidate their european operations negotiations are expected to conclude at the start of twenty eighteen and if approved by regulatory authorities both companies would tie up to become to some corp tata steel with both sides owning fifty percent of the new company the headquarters will be located in the netherlands the move will likely lead to job losses which will be shared between two thousand corp and tata the new synergies should save the company six hundred million euros per year the steelworkers union already called for a protest demonstration european steel makers have been under pressure for years from china the cheap steel it produces for the world market. and for more on that a mega merger in the steel industry i am joined now by the chief financial officer of his group good to cacophony he joins us from the quarters in s. and good to have you with us so

u.s. federal reserve expecting good news both the dow jones industrial average and the s. and p. five hundred ended in record territory in japan the nikkei also ended tuesday on a record two year high a week again under strong american markets are considered positive signs for japanese exporters. lots of positive for europe's largest airline but passenger numbers has issued a full list of cancellations thousands of flights are affected between now and the end of october the airline c.e.o. says they messed up the pilot's vacation itineraries but not everyone is buying that around forty to fifty flights are said to be canceled daily that's a total of around two thousand flights by the end of october ryanair canceled the flights to cope with pilot shortages and to improve its punctuality record we can either run the operation with a fifty five sixty percent punctuality we far more flight through options inevitably cancellations and huge pastor dissatisfaction close to thirty five or forty percent of our customer base or we do what i thought last friday was the sensible thing we need

federal reserve much the same way that you haven't a column in a commercial but. ben bernanke it was the president of the world's most powerful central bank the u.s. federal reserve true to learn true we simply used the computers to mark up the sars of your column in the federal reserve we need to preach morning because all more economists by the week and then flee from despair really. feel in the us to. money can be focused on public spending specially when the economy is in trouble. in the eurozone instead during hard times this could happen. she made sacrifices. and sacrifice today. the. economy here. for the big you know i mean. this. was the. research institute in italy national funding to the regions linked to social policies was reduced by approximately eighty percent from two thousand and seven to two thousand and fourteen. and. you're a member of a matter of the bones if we got it right. that decides how many pounds should be placed in a four hundred dogs. is the. total . it's. i'll tell you. china's i'll give you one thing the incentive i wanted more money in a book is a method of action. for you kind of the ultimate punishment disappoint

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federal reserve much the same word that you haven't worked in a commercial but. ben bernanke he was the president of the world's most powerful central bank the u.s. federal reserve troops to learn for a bird we simply use the computer to mark up the shards of your column in the federal reserve we need to print morning because all more economists believe and then free from the spare room. in the us the creation of money can be focused on public spending especially when the economy is in trouble september make it a good second if you must. wish the sickly features. in the eurozone instead during hard times even this could happen in english in an odd g. c b. please seek it yet because. she meant sacrifice. and sacrifice today or stair it is. the. economy of. free about the big you know green by me to defend it because it will says. the boy. was the same. according to census the research institute in italy national funding to the regions linked to social policies was reduced by approximately eighty percent from two thousand and seven to two thousand and fourteen. and. you're a member of the matter of the bones if we got it right it is the austerity th

u.s. federal reserve thanks very much bill indeed we have some breaking news now the u.s. federal reserve has just announced it's leaving its benchmark interest rate unchanged at a target range of one to one point two five percent and will also start trimming off bond holdings from october beginning with a ten billion dollar reduction we'll have more on that in our next business news update until then we have of course other stories prepared for you we begin with the latest move to counter europe's steel crisis german industrial giant to some corp is merging its european operations with its indian competitor tata two are better than one they say but employees are not that enthusiastic about the news as the fusion will likely cost thousands of jobs. protests have already begun at this to some coal plant where workers have set up a vigil for the jobs they're afraid to lose two thousand in management and another two thousand in production split evenly between the two companies some fear these cuts are only the beginning. you have got to move from i don't expect much good to co

u.s. federal reserve and expecting good news both the dow jones industrial average and the s. and p. five hundred ended in record territory in japan the nikkei also ended tuesday on a record two year high a week again and a stronger or strong american market considers positive sides of the japanese exports. and keeps an eye for us on market activity in frankfurt and from what i've heard so far mean we don't exactly see fireworks here what's holding everyone back in joining that rally. no fireworks the notion pain that most here here at the frankfurt stock exchange monica little bit different picture as we have seen today for example in japan or yesterday in the united stands for a couple of reasons the euro for example is a very strong at the moment it's being traded with about one twenty very strong euro is always harming the export business because most of the companies in the blue chip in neck stocks are making lots of money with the export then we also have the german elections coming up on sunday and as we know the latest polls indicate that the d. the. party could be number thr

u.s. federal reserve meeting for clues as to whether a third interest rate hike is on the cards for this year. economists say the federal reserve is unlikely to announce a rate hike today it could instead begin to unwind its massive four point five trillion dollars bond portfolio those assets were purchased by the fed during the financial crisis as a stimulus solid job growth in a stronger economy have recently pushed the board in the opposite direction it has already raised interest rates twice this year we conflation remains a concern the fed is expected to raise rates again in december global investors are also awaiting the news out of washington the booming u.s. market in the weaker yen or positive signs for japanese exporters in particular japan's nikkei exchange finished tuesday on a two year high the nikkei was quieter wednesday as well markets across asia traders are acting with caution before the fed announcement. all right let's go back to don your quote in frankfurt how big an issue is the fed rate decision for european stocks well the press conference off the head of the fed is go

u.s. federal reserve has left interest rates unchanged but signaled a hike could to be on the cards beforethe end of the year fed chief janet yellen also announced a reduction in the central bank's bond buying program analysts say she's facing a tough balancing act between embracing an ongoing economic recovery and worrying over a recent drop in inflation. and i will european stock markets are just beginning to digest the news from the united states that the cope is our man at the front for the stock exchange stuff what's the word their will janet yellen be able to strike the right balance here. you have very interesting question monica after the press conference yesterday she at least already got one thing that she wanted remember that the dollar was performing very poorly throughout the last time and today we see actually the euro dropping and the dollar again you know being stronger but the thing is this year there's not too much you know things that she can do ok now we are hearing that from december on there might be again higher interest rates but she's not the person who needs to de

u.s. federal reserve has left interest rates unchanged but signaled a hike could be on the cards before theend of the year fed chief janet yellen also announced a reduction in the central bank's bond buying program analysts say she's facing a tough balancing act between embracing an ongoing economic recovery and worrying over a recent drop in inflation. and shares in german lender come out bank spiked briefly on wednesday that after renewed speculation that a merger could be on the cards according to the reuters news agency italy's only create recently approached the german government with an interest in merging with the state backed lender it's still early days but should such a move go ahead it would be one of europe's largest ever cross border banking burgess. so much speculation also when it comes to the german election a lot of speculation everything is gearing up for sunday's federal election monica indeed here in germany is just three days to go until the election of course in the u.k. a. sorry when we get the start again polling organizations have not enjoyed the best reputation of

u.s. federal reserves policy on interest rates. their dovish approach has taken the market by surprise. mendous pressure on the u.s. dollar. during 2017, we have seen the u.s. dollar trending lower. that provides a tremendous incentive for buyers to go into the commodity market, particularly when the chinese are restocking after the northern hemisphere holiday break. we are going through a consolidation phase. i don't see anything more serious than that at the present time. david: your thoughts on iron ore ? more looking at prices in china, but do these prices make sense given the current demand outlook and the inventory levels? >> iron ore has surprised even the most bullish market watchers. thes amazing how resilient chinese steel industry has been. .emand seems to be very robust there is a switch from lower quality steel production to higher-quality. demand has been there for the allium product, so over production is strong, and that is translating into a robust price. i think we will see a continuation of those prices for the balance of 2017. david: i want to get your thoughts and so

u.s. federal reserve it's doing its best to make policy "as boring as possible."t we can expect from the fomc decision and janet yellen's press conference later. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. vonnie: live from bloomberg rolled headquarters in new york, i am vonnie quinn. shery: and i am shery ahn. investors are a bit more cautious ahead of the fomc meeting. not a lot happening with the dow. daytill, we are seeing a 14 rally continue. steady.500 is holding the nasdaq feeling a little bit more pressure. the 10 year yields reversing some of the gains we saw in the past recessions. the dollar is not really moving a lot. we are getting some warnings theycredit suisse that could hold that brought dollar negative view, so keep an eye on that. t

u.s. federal reserve has to do anything. finallyfed watch tool has the december probability of a u.s.ate hike above 50%. as i've been there all week. there allas not been week. the market believes the bank of england does not necessarily believes the u.s. fed. vonnie: fascinating. thank you for that insight. bob: thank you. vonnie: that with today's futures in focus. mark: the bloomberg business flash from a look at the biggest business stories in the news right now. inflation in the u.s. may be getting on track to reach the federal reserve's goal. consumer prices rose more than expected, 4/10 of a percent in august. that as a five-month streak of a weaker than excited report. new european regulations take effect in january. deutsche bank and franklin templeton sent they are doing the same -- said they are doing the same. government is now formally remove moved ahead wita review of 21st century fox's $15.5 billion takeover of pay television company sky. the competition regulators will look at fox's commitment to broadcasting standards. it will also look at whether the deal gives ruper

u.s. federal reserve is "charting the way to normalization." cooks all the conditions that has to be in place for the normalization have been fulfilled. we have a very healthy labor markets, unemployment is very low, the duration of unemployment has declined. --nomic activity in terms of even inflation is under direction. global news, 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries. reserve'sederal two-day meeting starts tomorrow could announcing its -- tomorrow. announcing its balance sheet. this according to a bloomberg survey. let's get more now from mark cranfield. the take on where the dollar goes next? i'm looking at the data and i am neting at a 4.5 year max, short position for the dollar. i'm wondering of the potential for squeeze coming into this fed meeting. the markets such extreme positioning right now. mark: definitely. there's a good chance for squeeze. positioning is very skewed in one direction. if you look that preview, there is a real split between where economists see the rates going and wh

u.s. federal reserve announced to the return to normal last week. plan to reduce their balance sheet but not every other policymaker is following suit. is nathanlp us sheets, chief economist at the this place. in theot to central bank united states. still, game on potentially. what is the risk for a policy surprise? a policy error from the federal reserve? willthink that sad continue to be very interdependent. it will respond to the economy. probability that the fed makes a mistake over the next six months is relatively small. on the longer horizon, the fed might misjudge the inflation process. come either higher or lower than what they expect. i would say that that is a risk. hopefully over the longer horizon, the fed will remain vigilant. about what thek fed is projecting, it is still looking for three interest rate increases next year. introduces the probability of interest rate increases from three to two. do the dots matter? i think at best, the dots are indicative, they are a suggestion of what this one feels would be a reasonable monetary pol

u.s. federal reserve chair janet yellen met with donald trump's daughter evocative trump in july.ays later, the president told the wall street journal that she was "in the running" for a second term of the central bank. most economists polled by bloomberg expect the president to pick someone else. global news, 24 hours a day, powered by over 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . asian stocks are higher for a fourth consecutive session in holding on to 10 year highs, after its biggest jump in three months yesterday. .6%,alia closing higher by a strong rally in mining and banking but a little more flat on the hang seng with a risk on up i .2% in late trade. we are watching a lot of the supplies based in asia and you are skating a rally in taiwan, a maker of the apple watch. we see a move into electric vehicle in china and there are reports that they are in talks on electric vehicle joint venture. galaxy resources will be one of the companies that benefits because it provides lithium batteries. , we had a lit

federal reserve. you have the governor saying the u.s.al bank needs to pay careful attention to underlying inflation before raising interest rates again. >> because we have been falling short of our inflation objective, not just in the past year, but over a longer period as well, we should be cautious about tightening policy forward until we are confident inflation is on track to achieve our target. manus: meanwhile, neel kashkari says the u.s. central banks hikes have been doing harm to the economy. >> maybe our rate hikes are doing real harm to the economy. it is possible that our rate hikes over the past 18 months are leading to more people on the sidelines, the lower wage growth, and leading the lower inflation expectations. these premature hikes we have been barking on, they are not free, and i think we need to remind ourselves of that. manus: premature hikes. the doves are crying. the doves have it. i have got to say, little red corvette and 1999, you know, they are in that. pretty sexy. let us talk about the bond market. equitably

u.s. federal reserve institution i used to work for. as bob says, the fed has committed two major blunders in its 85 year existence. it worsened the great depression of the 1930's by refusing liquidity to a global economy that was thirsting for it, and then in the 1970's it permitted the great inflation by not soaking up liquidity from a global economy that was drowning in it. the great depression looms large in public consciousness. if you were to type it into google you would get 8 million hits on the term great depression. the great inflation has faded from memory. it gets under 50,000 hits. depression gets its own entry in wikipedia, the great inflation there is no wikipedia entry. is a great service to tell us about this history. bob laments the fact that history also skimps on economics and economics skimps on history. is neither a professional economist nor a professional historian, but has given us in his book ample helpings of economics and history. i think the book is more than the story of the conquest of inflation, it is a n

u.s. history. federal reservechairman stanley fischer resigning and he plans to leave next year if what he described as personal reasons . he had been vice-chairman since 2014 at considered an elder statesman off of american finance a year is the former chief economist of the world bank and first deputy managing director of the imf. house speaker paul ryan backs president trump's decision to give congress six months to the dreamers for>> trump was right and made the right call and he gave us time to work out a consensus to find a compromise the mosthese kids, for part, do not know and other home than the united states. i think the president was right to give us the time to find a compromise. according to the president ended -- courtney: the president and his program as said the matter is up to congress. germany's finance minister warned there is no free lunch and break the top. wolfgang schaeuble said at the sinking in is to find solutions that will keep the damage to both sides as limited as possible. global news

pricing in more rate hikes for the giving want them the federal reserve -- bank of england than the federal reserve? inflationhaven't seen in the u.sin the u.k., inflation is mainly caused by fx. there are wage pressures in the u.k. that are real. you are not seeing that in the u.s., and you are there. the u.s. has been such a tough problem that they will be more accommodative in the future. jonathan: you are sticking with us. george rusnak, kathy jones, and matt brill. coming up, the auction block, what a week it was. the headline is the yield. that is next. ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." i want to head to the auction block where we had eye-opening debt sales this week. the yield for the 10 and 30 year treasury auctions seeing totals we haven't seen in years. sinces the lowest november. the 30 year yield the lowest since october. austria saw demand for the $500 million of its 10-year notes that were so high it not 90 basis points off the initial offering. att allowed them to sell 7.125%, allowing them to sell at dish -- the country sold 3.5 billion euros of debt, the biggest ever sell of bonds o

u.s. federal reserve. being highly accommodative, even though we expect mario draghi to end emergency measures that withstood the test of time and to some degree is taking credit for above trend growth in europe will likely begin to at least talk about the unwinding of quantitative easing, not coming anywhere near tightening by way of raising interest rates. >> mark on everybody talks the north korea system and how both of the worldwide markets. everybody says okay come to china is the key to making this all work out. nobody wants to get engaged in military action. let they put something on the table. totally radical. give china the opportunity to the next north korea. take them. the only ones who can manage it, the only ones who can do it. maria: then you are going to get u.s. troops out of the european peninsula because that's ultimately what china wants. the trend administration still is not looking serious about tackling men's because if they were there with a trade embargo in place against china and a

u.s. investors will be watching the federal reserve policy meeting held tomorrow and wednesday. most economist don't expect -- but that's raised rates twice this year. >>> let's take a look at the big board and see how the dow is doing. you can see it's up about 63 points. >>> still ahead, a first for the american academy of pediatrics. new recommendations for teenagers considering tattoos or piercing. >>> plus a bay area native hits his 18th season in the nfl and he's not slowing down. tom brady shares his game plan for staying strong. the first time -- the deadly shooting. a robbery suspect was shot to death friday during >>> san jose police chief is about to give an update on the officer involved in a deadly shooting. a robbery suspect was shot to death friday during a traffic stop. kpix 5 sandra osborne is live at police headquarters. >>reporter: this news conference was scheduled to start at noon. we're waiting on the police chief eddie garcia to give us information on the person killed and the officer involved. in happened in -- north white road in san jose. police are try

u.s. today investors awaiting the conclusion of the federal reserve's meeting for clues as to whether a third interest rate hike is on the council. economists say the federal reserve is unlikely to announce a rate hike today it could instead begin to unwind its massive four point five trillion dollars bond portfolio those assets were purchased by the fed during the financial crisis as a stimulus solid job growth in a stronger economy have recently pushed the board in the opposite direction it has already raised interest rates twice this year we conflation remains a concern the fed is expected to raise rates again in december global investors are also awaiting the news out of washington the booming u.s. market in a weaker yen or positive signs for japanese exports in particular japan's nikkei exchange finished tuesday on a two year high the nikkei was quieter wednesday as well markets across asia traders are acting with caution before the fed announcement i asked our financial correspondent daniel cope if the fed is waking up to the fact that it's stuck in a low rate era which could be even lo

u.s. and the federal reserve kicking off its two-day policy meeting.] >> i am julia chatterley. scarlet: i am scarlet fu. joe: and i am joe weisenthal. we want to welcome you to our closing bell coverage. begin -- scarlet: let's begin with our market minutes pre-to rally continues unabated and the dow continuing .ts winning shrinks -- streak the s&p 500 adding 1%. treasuries edged lower and this is even as donald trump gave a speech to the united nations that sounded fairly aggressive. once again, basically no action in headline equities. scarlet: and the federal reserve began a meeting in which it will likely deserve to reduce its balance sheet. aside from record highs and the major indexes come we got a big pop in the gun makers the final half hour of trading following reutersreport from which cited official saying the trump administration is preparing to ease rules for to sell smallkers arms including assault rifles and ammunition overseas. double-digit gains for those gunmakers. molina healthcare off by almost 6%. obamacare back into circulating on

u.s. economist michelle meyer weighing in on the resignation of stanley fischer. catch all the news on the bloomberg with the function tv . this is bloomberg. ♪ scarlet: breaking news. we are waiting the federal reserve'somic conditions in its beige book. julia: stanley fischer announced he's resigning effective mid-october. sparking a slight reaction in the u.s. dollar. scarlet: chris condon is standing by at the federal reserve with the latest headlines. chris: all 12 districts were reporting modest to moderate economic growth in july and august. the mystery over white tight tight labors -- why markets are not moving wages and inflation only deepens with this report. manufacturing on the positive side. modest increases in several districts. particularlyding, non-auto retail spending was up in many districts. notable positive side, capital spending increased in s

u.s. economist at ebs. he worked at treasury and federal reserve. great to have you.rely this should not be such big surprise. >> one would think that it is one of the most, if not the most a whitet appointment of house, you would want a long list. obviously, this administration is a bit unorthodox. hard to know exactly what they will do. have two things going on. a lack of clarity about , and the potential rate hike in december with the retraction of the balance sheet at well. the federal government, as you mentioned, is unorthodox at time. to what extent is that playing into the bond market? >> longer-term yields are quite low. reflectsof ways, that uncertainty globally. i also think it's the current inflationary environment and a of lowertrend inflation in the u.s. for the fed, people are kind of figure out what does it mean, but there's something a little unusual, where we have something of it is very gradual, very slow . one might think, given the alternative, they would be hawkish and aggressive, but it is not clear that would push up yields. if anything, it mig

u.s. in a few days. finally, perhaps the biggest single mover of the market was higher interest rates this week. the federal reserve hinted that another rate hike was just around the corner and the yield on the ten-year hit its highest level in a month. the two-year yield soared to a nine-year high, giving a hefty boost to the banks but dealt a blow to utilities and real estate. those were more defensive names. for "nightly business report," i'm bob pisani at the new york >>> and maybe no surprise, those rising tensions with north korea lifted the defen sector this week. the defense and aerospace etf itself rose about 4%. but north korea isn't just an issue that wall street is watching. our allies in south korea are watching. our chery kang has more. >> reporter: north korea's foreign minister told reporters that north korea could test its hydrogen bomb in the pacific ocean in an unprecedented level. now, this is according to south korea's news agency. to put this into context, the foreign minister of north korea was asked by reporters about what kim jong un meant by, quote, the highest level of hard line measure i

u.s. history. many people did everything they could to help their neighbors, including workers at the fed. >> the federal reserves like the main bank to all these banks. you go to your mom for help, that is what they were doing, they were going for help. the banks were in need of cash, because the people were in need of cash. so we were there for the banks and we were there for all the people. announcer: this week on american johnson, whorank works for united press international in the 1960's, and the washington post for 35 years, the oral history interview is at the university of texas at austin. here is a preview. the minister of information decided nobody was going to go. it turned out they knew that charlie was in the room and all the reporters said, this is one of the only survivors. please let him go up there with a still photographer. so we all drew straws, the photographers in the room and i drew the short one. so charlie and i flew from port cai tuma.o we get off of the airplane and there is a helicopter on the side. we run to the chopper. there was a soldier inside. i jumped into what would be the door

u.s. history. many people did everything they could to help their neighbors, including workers at the fed. >> the federal reserve is like that main bank. you go to your mom for help. that is what they were doing. the banks were in need of cash. the people were in need of cash. we were there for all of the banks and all of the people. c-span, where history unfolds daily. 1979, c-span was created as a public service by america's cable television companies. it is brought to you today by your cable or satellite provider. >> this year, c-span is touring cities across the country, exploring american history. next, a look at our recent visit to spokane, washington. you are watching american history tv. all we can, every weekend on c-span3. mr. walton: from the get-go, it was immediately behind in aviation. start -- they to decided to start a military base here. this area was a great spot, because at the time it was just an old municipal golf course that nobody was using. it had lots of open area, lots of space, and that is what you need to back then for taking off in different directions and different wind speeds. ever

federal reserve's meeting. a relatively quiet north korea and u.s. y of state rex tillerson's comments on "peaceful solution" over the weekend have calmed investors. the federal open market committee's two-day meeting starting on tuesday is unlikely to result in an interest rate increase, but investors will focus on how fed chair janet yellen views recent inflation readings for clues on the timing of further rate hikes.why you'll need to wait seven weeks for iphone x to go on sale ... apple won't start shipping the redesigned phone until nov. 3, more than seven weeks after it was unfurled tuesday. the reason is as crystal clear as iphone x's new oled screen. oled manufacturers can't build the screens fast enough as they increasingly pop up on smartphones, high-definition tvs, watches, virtual reality headsets and other gizmos. it's an issue that not only is dogging apple, costing it billions of dollars in short-term sales, but has tripped up samsung, htc and google, too. "the city of concord says one of the safeway locations in town has way too many p

u.s. wealth, about 39% last year. that's nearly twice as much as the bottom 90%. the slices only become smaller. that's from a new report from the federal reserves. even the fed acknowledged that it has become increasingly unequal. those numbers sort of the heart. >> so the trillion dollar question is does this tax reform plan help that. >> well. we have a lot of questions. >> what's your biggest question? >> what it will do to the deficit. they are going to offset some of these costs. >> how will they offset that? >> that's what they have -- >> raising the extremely wealthy. >> getting rid of other loopholes. the tax -- have lower tax rates overall, other people have to give up the tax breaks. >> big battle. >> thanks for joining us. >> president president trump's tax plan, as mentioned is out. congress has work ahead. "new day" will break it down for you right now. >>> middleclass miracle. >> the framework sends a loud, clear message. tax relief is on the way. >> the wealthiest americans make out like bandits while the middleclass are left holding it. >> we're out of food and water. >> hard to overstate how desperate this island is.

federal reserve's meeting. a relatively quiet north korea and u.s. tary of state rex tillerson's comments on "peaceful solution" over the weekend have calmed investors. the federal open market committee's two-day meeting starting on tuesday is unlikely to result in an interest rate increase, but investors will focus on how fed chair janet yellen views recent inflation readings for clues on the timing of further rate hikes.why you'll need to wait seven weeks for iphone x to go on sale ... apple won't start shipping the redesigned phone until nov. 3, more than seven weeks after it was unfurled tuesday. the reason is as crystal clear as iphone x's new oled screen. oled can't build the screens fast increasingly smartphones, high-definition tvs, watches, virtual reality headsets and other gizmos. it's an issue that not only is dogging apple, costing it billions of dollars in sales, but has tripped up samsung, htc and google, too. ♪ ♪ ♪ ♪ ♪ last weather this is the new comfort food. grown right here in california, with absolutely no antibiotics ever. a bett

federal reserve? matt: i think it comes down to the inflation data, and you just haven't seen inflation in the u.s.il you see inflation pick up in the u.s., people aren't going to buy it. as i mentioned before, in the u.k., inflation is mainly caused by fx. there are wage pressures in the u.k. that are real. so from that standpoint, you are not seeing that in the u.s. and you are seeing a little bit there. i think the u.s. has been such a tough problem in the past, they will be more accommodative in the future. jonathan: you are sticking with us. george rusnak, kathy jones, and matt brill. coming up, the auction block, and what a week it was. austria offering europe's first benchmark sized century bond. that is not the headline. the headline is the yield. that is next. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg: real yield." i want to head to the auction block where we had eye-opening debt sales this week. what a week it was. the yield for the 10 and 30 year treasury auctions both nearing levels we haven't seen in almost a year. that is this is the lowest

u.s. a record high for the dow as the federal reserve begins a two-day meeting.is dow is up 22% now since the election. the fed is not expected to raise interest rates but likely will detail how it will unwind its balance sheet. one of the biggest mysteries is whether she will be reappointed by the president or if he'll pick somebody new. >>> the ceos are raising their expectations for economic growth this year. they're o

u.s. business cycle, as we know, given where the federal reserve is, is far more advanced than the european business cycle or the emerging markets cycle. let's remember the world was out right bearish -- outright bearish emerging markets growth less than a year and a half ago, and europe experience a recession -- experienced a recession only three years ago. this cycle, the economic cycle, the business cycle tends to play on average over seven years to 10 years. if we reset the clock to a couple years ago, that is the type of potential cycle we are talking about. julie: thank you so much, alessio de longis with oppenheimer funds. let's check in on the "bloomberg first word news." >> hurricane irma is taking aim at florida and it could turn out to be the most expensive storm in u.s. history. irma forecast to hit florida by sunday afternoon. mandatory evacuations have been ordered for downtown miami and miami beach. barclays has estimated a worst-case scenario of $130 billion in insured losses. the hurricane's 180 mile-per-hour winds devastated the chain of small caribbean islands and have bl

u.s. may be getting on track to reach the federal reserve goal.e a more than expected fortunes of one person in august with core cpi, is quitting for an energy, rose which matched estimates and ending a five months streak of weaker reports. north korea ratcheting up the tensions after being hit with new united nations sanctions. the regime threaten to use a nuclear weapon against japan, says the code -- country no longer needs to exist what japan call the statement provocative. north korea is showing signs of preparing another missile for lunch. its forecastted for french economic growth to 1.7%, the organization gives credit to the president and his proposed labor reforms. >> it is a happy go incidents that only a few months after president macron took office, we are delivering this economic report, because mostly it is about his reforms. his reform plan and program. also, about the impact of the reforms of the previous administration. on wants to make it easier for companies to fire workers and hinder the power of labor unions. global news 24 ho

u.s. economy stocks and of course questions surrounding the federal reserve when they raise interest ratescting september next week but now pushed back to december, may be late this year or next year. risk factors out there for markets. lauren: another big story apple shares were down half a percent looking at the premarket right now. why do you think they are lower? are they disappointed by the announcement? >> the iphone will release in november, which is pretty late in the year and it's very close to shopping season, which is very important for sales. so they are questioning how this will impact sales and whether the iphone suppliers disappoint in asia are also down. a lot of questions. >> and a lot to talk about throughout the day. thank you very much. the big story right now of stock has to be apple. lauren: outcome of the rest of the market at record highs. let's say good morning to maria bartiromo. >> hÉbert, ladies. thanks for joining us. i am maria bartiromo. when they come september 13th. expand on the east coast. tax reform on the table is president trump hosted lawmakers last n

u.s. inflation may be creeping back toward the federal reserve 2% target. today's inflation report offers some relief perhaps. even if inflation was moving away from that goal. let us bring in for international economics and policy correspondent. great to have you on. i look at some of the components. energy, rent. where is the hurricane impact? michael: you can make that argument. the fed is looking at one-off impulses. airfares, cell phone prices are going down. cell phone service prices. the fed has to look at the prices they have. the cleveland fed but that its cpi.- puts out its own they calculated how many of the items are going up in price. more than half of the things are rising in price. we are seeing inflation. this is core inflation. not just the energy related effects. julia: is that trend higher? 50.5%.: we're at scarlet: it is moving in the direction the fed wants to see. are investors convinced by a o ne-month reading? michael: here is a chart. between whatnce the inflation numbers are suggesting and what the market-based and consumer expecta

maybe that could be potentially through the federal reserve or the u.s. treasury.ut details of that -- we just don't know yet. julia: we introduced you by mentioning the bonds are trading in certain cases -- the 17 year bonds are trading at just over $.50 to the dollar. done, talksk being on a broader restructuring deal that needs to take place. in light of the story that you set out here, surely this makes the likelihood of restructuring that much more likely, because there is simply no other route for them to go down. michelle: they were already on the path to restructuring in the bankrupt the process. the problem is that gets more complicated. hurricane maria made that more complicated. that might be a longer process now. money puerto rico actually has to pay bondholders over the long term -- that is a big question. scarlet: in the meantime, you are seeing the brain drain continue in puerto rico, which was already happening before the hurricane. who is left to get this economy going when electricity returns? michelle: that is the risk, that this could prompt eve

u.s. have actually improved in spite of everything that the federal reserve has been flagging in terms oferest rate year emerging markets will be under more pressure. we will have some deterioration in financial hikes, simply becae dollar has weakened. that is over now. to some extent we are going to see some rolling over of emerging markets. then one has to be selective of course. i would say that at the general level, without getting into the specific countries, i would say that china is going to tighten. we have seen a run-up in metals and other commodities. i would suspect we are going to have some pressure for the countries delivering those materials. price,ok then at the oil i would say that the oil price will be resilient. i would suspect that countries that have oil price production would also be resilient. that would include paradoxically a country like russia, but also the gcc countries are going to believe.well still i believe. the big run is over. countries that are more insulated from the global economy -- that could be india, russia, gcc -- could still do fairly well. there

he's canadian, whilst the bank of england is prepared to appoint foreigners, the federal reserve requires you to be a u.s. citizen to run the fed. >> it an outright rule or a general rule of thumb? >> it's an outright rule the only reason stanley fischer as vice chair was able to be vice chair, he holds duel sal citizenship of israel and the united states. >> i didn't know that don't miss complete coverage of the fed decision, 2:00 p.m. eastern time >>> fedex earnings missing the mark a cyberattack on its tnt express unit earlier this year cut profits by a third hurricane harvey also impacting operations >>> adobe's earnings beat forecasts. it created several new items for its creatie creative cloud >>> shares of bed bath & beyond are tumbling today the latest results missed forecasts as online sales were not enough the company also cutting its full-year outlook. that's down 14%. >>> mark walter considering stretching down as ceo of guggenheim he is considering forming a holding company that would house one of the insurance assets which includes a stake in the dodgers. representatives from the firm are d

federal reserve. so many questions here. so many wanted to the market in the u.s. and globally.to pull up a chart here that i think is quite interesting. we have this chart for a while, g #btv 5149, and even though we have been so awash in liquidity , thee fed, their role contribution to stimulus has been declining. their assets are in percentage of the total assets on the boj, ecb, boe, and the fed. they have been declining over the last several years. that that, are you certain you have a new era with the fed? they are going to pull back on the stimulus. that is not going to be quite as disruptive as some had feared in the beginning. i think, you know, it is clear the federal has started the adjustment process. the interesting thing is you do not just focus on what the fed is doing. it you need to focus on what the private sector is doing. the fed withdrawing liquidity will have no problem if you do get wage and income growth, which means there is a savings in the financial sector that can be put to use to actually offset the balance sheet contraction. the private sector balan

u.s. a record high for the dow as the federal reserve begins a two-day meeting. if you're keeping track, this dow is up 22% now since the election. the fed is not expected to raise interest rates but likely will detail how it will unwind its balance sheet. one of the biggest mysteries is whether she will be reappointed by the president or if he'll pick somebody new. >>> the ceos are raising their expectations for economic growth this year. they're optimistic about the economy. >>> the company has shut down a million terrorist accounts since 2015. twitter says it now detects more accounts in house instead of through government requests. about 95% were discovered through internal spam fighting tools. >>> time for an update on your operating system. it's the latest operating system is now free to download on most iphones and ipads. io s11 has a more human sounding siri and those place 3d images on top of a live view from the camera. if you have an older device you might want to wait to update. new operating systems also have bugs and the first minor update should he

u.s. records once again. the dow a fresh record high as the federal reserve kicked you have its two day meeting. fed is not expected to raise interest rates but we do expect maybe details for how the fed will unwind its $4.5 trillion balance sheet. gun stocks also spiking late afternoon after reuters reported that president trump plans to make it easier to sell guns overseas. rose 14%, a huge rally for that gun manufacturer. twitter is getting better at finding terrorist accounts. they've shut down millions since 2015. it detects more accounts in house instead of through government requests. about 95% were found with internal spam fighting tools. >>> all right. early start continues right now with hurricane maria as it approaches puerto rico. >>> puerto rico's governor calls this the worst hurricane in the island's modern history. puerto rico bracing for a direct hit from hurricane maria. a new update from the national hurricane center just moments away. >> and the death toll from a major earthquake in mexico rising dramatically overnight. >> rocket man is on a suicide mission for himself and fo