that seems reasonable where unappointed is some of the unemployment rate is, and how growth is coming when you look further out and what the market is pricing in for growth and inflation, that is where it gets interesting. if you look at the five year yield five years forward, what the market is pricing in his close to 2%. you compare that to the fed, and 7/8. long run rate is 2 that, to me and us at western makes it look interesting for the first time in a long time. jonathan: let's talk about the diversions with what the fed expects in the long-term and where the market has it priced at. what do you make of that distinction? >> i look at what the curve is telling us. i think the curve is telling us how flat it is, maybe the terminal rates, the endpoint of the tightening cycle is less than may be what the fed thinks right now. i think it is the rate of change . the 10 year yield has had movedy 100 basis points in six months. that is a significant move. at the margins, that is what the market will focus on. >> i agree. we are entering into a period any weakness from a rate drag will b

with the boys adding 103,000 jobs, the figure was revised upward in february to 300 26000 and the unappointedright state at 4.1% for the six month and a row. wages rose 2.7% from one year ago. the war of words over president trump's proposed tariffs escalated today as the chinese are vowing to fight them to the end and at any cost. the president ordered his administration to consider tariffs on an additional $100 billion of chinese goods, that threatens to unravel efforts by top officials in both countries to reach a deal to stave off the conflict. there are more signs that the three nafta countries may find common ground in the talks on the trade agreement. u.s. trade representative meets with his counterpart from mexico and canada today in washington. the trump administration is said to have softened its demand on auto production but it is still seeking other concessions. global news 24 hours a day, powered by more than 2700 journalist and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. mark: thank you. governor of the norse bank discusses his fears of a trade

and posting today's ta advertise particulars about black unappointment under obama saying it's a trendtarted under the -- >> neil: do you think if he had not said something complimentary of the president it would be getting the time of day? . absolutely not. his wife was a big supporter. and he said i love hillary too. >> i love how mad people are. people are real mad. who cares what celebrity, who they support politically, who cares. i care about my friends, my job, getting my laundry done, having a live. it's really pathetic to care. get a life. it's enlightening to show that if you are having similar views as everyone else could be a career ruiner, not necessarily for kanye west. but if they have this view that it's different from the norm so to speak that people will jump on you and look at you like what is wrong with you. >> neil: it became a big deal. >> that's what is happening, people are saying we should look at his mental health. well, i don't know it's a mental health thing. somebody can support something without saying their opinion is insane, if you don't agree. we need co

the ecb, you have to be forward-looking and suggest that with the oil price increase, with the unappointeduation, the general trend of inflation, the policy response is warranted. anna: scott thiel, deputy fixed income cfo, blackrock is staying with us. deutsche bank is saying actions to reshape the corporate investment bank, that is the big headline. measures, they ib front, back, and middle office costs. they are keeping their target for adjusting cost space in 2018 below 23 billion. good morning, guy. asian, orf reorganize the renewed focus on the structure and strategy of this business, that seems to be the headline we are getting at the moment. guy: absolutely. two statements this morning. that bit first. this is where the focus will live when there is a new ceo coming into deutsche bank. he is trying to reshape the business. the detailsing coming through, deutsche bank saying it is taking a review of global equities. there is an expectation there'll be a big focus on what is happening in the united states. what kind of bank does deutsche bank want to become? what has been tried to do

i am unappointed government official but i am still an activist and i am still in millennial and i get a lot of information from places like twitter, i know a lot about marijuana and i don't know much about anything else because i've been focused on marijuana for so long. absolutely don't know everything. when we are looking at a policy we will get as much feedback as possible. we certainly want feedback from people in the underground market. don't want to talk about those communities like they are not there. i will often get tweets from people who say they are in the underground market and what something looks like and make a decision based on that. , imassachusetts we have would say there are three main ways we have chosen to address this. weaverst way is trying to into every decision that we make the fact that we want to encourage small businesses and people who might be in the underground market. when i was a practicing marijuana business lawyer, back when the medical program in massachusetts had just passed, people would come into my office and say i want to be enough for a newer,