within the united states were to blame according to some analysts and europe staff also released unemployment data which shows the unemployment rate in the e.u. stood at eight point three percent in june the same level as in may that's the lowest level since december of two thousand and eight both the g.d.p. and the employment data will go into the european central bank officials consideration as they remain on course to end their bond buying program known as quantitative easing or q.e. by the end of the year. and while we talk about high oil prices all prices have dropped in recent days even though they're relatively still high higher than normal in recent months that is west texas intermediate w t i traded at the new york mercantile exchange nymex jop two percent yesterday just below sixty nine dollars per barrel and trading was even lower today at sixty seven and a half dollars per barrel in mid day trading and light of generally higher prices airlines are looking to boost revenues from ancillary revenue streams some sources are pretty unconventional but is there a limit to what can be done her

within the united states were to blame according to some analysts and europe staff also released unemployment data which shows the unemployment rate in the e.u. stood at eight point three percent in june the same level as in may that's the lowest level since december of two thousand and eight both the g.d.p. and the employment data will go into the european central bank officials consideration as they remain on course to end their bond buying program known as quantitative easing or q.e. by the end of the year. and while we talk about high oil prices all prices have dropped in recent days even though they're relatively still high higher than normal in recent months that is west texas intermediate w t i traded at the new york mercantile exchange nymex job two percent yesterday just below six.

this is unemployment data you can see unemployment has been trending sharply down for santa clara whiches that are the lowest. if you're looking for work or you recently have been hired i asked what has been the most annoying part of the process. 58% of you said it is the long wait. hopefully it will see the process along a little bit faster. we are also having this conversation on facebook today in the bay. >> thank you very much. >>> happening today south bay authorities may receive a huge crime fighting boost in the skies above. the airbus chopper and supervisors will debate a $2 million proposal to buy and refurbish it. >>> fema sending billions of dollars to the bay area. we are live with a look at changes we may see. it really comes after a lot of those incidents. >> yes. unfortunately there have been a number system wide. good morning to you. the most recent we were out here this past thursday. he was expect today recover. police did arrest another in connection with that attack. police looking for another man suspected of stabbing a rider saturday night. you can see the surveill

check out the unemployment data. you can see from 2010 to now. it has been trending down sharply. those are the two lines on the bottom that are the lowest. i posted it on my twitter feed. i want to know if you have been hired or you're looking for work what is the hardest part of the process? i think you might say it's the waiting but there are other things as well. join the conversation as well. today in the bay. >> i just took that poll. trying to figure out what employers want. right now they want you to get to work on time. you can. an easy drive all the way around. a little build here. san jose is the latest. slowing on 101. south of there we are looking at the slowing. taillights are heading down without any problems through the area. >> not bad for tuesday morning. >>> what is it? >> only two. >> isn't that funny how it happened? >> looking forward to the weekend. >> it is a long one for some people. >> not for me. what about you guys? >> look at laura. she has a big smile on her face. look, if you're lucky like her you will have an incredible weekend. it will get a break

tensions within the united states were to blame according to some analysts and you're also released unemployment data which shows the unemployment rate in the e.u. stood at eight point three percent in june the same level as in may that's the lowest level since december of two thousand and eight both the g.d.p. and the employment data will go into the european central bank officials consideration as they remain on course to end their bond buying program known as quantitive easing or q.e. by the end of the year. and while we talk about high oil prices all prices have dropped in recent days even though they're relatively still high higher than normal in recent months that is west texas intermediate w t i traded at the new york mercantile exchange nymex job two percent yesterday just below sixty nine dollars per barrel and trading was even lower today at sixty seven and a half dollars per barrel in mid day trading and light of generally higher prices airlines are looking to boost revenues from ancillary revenue streams some sources are pretty unconventional but is there a limit to what can be done here

he highlighted the difficulty of understanding economic data and how unemployment is related to inflationnd how difficult it is to measure that. the yield curve is easy to measure. it's a good signal and he did not address that at all, although other speakers did. jonathan: where should he be looking? the fed funds rate? what is the most important part of the curve they get you the most information on what they should be doing? rob: they are very correlated, but we have reached new flat levels today. if they continue with their steady rate increase, we would expect that to continue to flatten. subadra: i think the market with 5 3 either two ten's or 0's. it has generally been a good indicator of whether it will be a slowdown in growth. matt: there is an interesting study out a couple months back 's the fed said the two ten is not the best leading indicator. you were supposed to be looking at the front end of the yield curve. that does better job of foreshadowing the next recession. at the end of the day, the yield curves are correlated. we should be watching everything. jonathan: it seems

highlighted the difficulty of understanding economic data and how unemployment is relating with inflationnd how difficult it is to measure that. the yield curve you could argue it is easy to measure and he did not address that at all the some .f the other speakers did jonathan: where should he be looking on the yield curve? the fed funds rate? what is the most important part most information on what they should be doing? rob: they are very correlated, but we have reached new flat levels today. if they continue with their steady rate increase, we would expect that to continue to flatten. subadra: i think the market with -- will either tend to look at 2/10 -- to tens -- two 10's or five 30's. it has generally been a good indicator of whether it will be a slowdown in growth. after that part of the curve. -- after that part of the curve flattens. matt: there is an interesting fed study out a couple months back to the fed said the two ten's part of the yield curve is not the best leading indicator. you are supposed to be looking at the front -- your school to be looking at the front end of the

he highlighted the difficulty of understanding economic data and how unemployment is relating with inflation, and how difficult it is to measure that. but the yield curve you could gue is easy to measure and easy to see. >> where do you think he should be look something should he be looking at fed funds race out to 10. where is the most important part of the curve that gives you the most information on what they should be doing? >> they are correlated. place 20 's is a good look. we reached a new flat in those levels. if they continue with their steady rate increase, we would expect that to continue to flaten. >> i think the market wants to look at 2's and 10's and 530. but the fed looks at the general part of the curve. that has been a good indicator of whether there is going to be a slow-down in growth a year after the curve flatenses. >> there was an interesting fed study out saying the 2's 10's part of the curve is not the best cator to look at. you are supposed to be looking at the front end of the yield curve because that does a better job of foreshadowing the next recession. but at th

anna: on the implement data we receive yesterday, going back to 1975 with an unemployment rate as lowwe have, they were lower than estimates. does this matter in the context of what is to come? that peopleatters can keep it in the back of their minds. anna: does it matter to sterling? does it have the impact you think? >> not at the moment, everything is depressed and suppressed by brexit. look where cable finds itself today in the face of a strong u.s. dollar. brexit stops, people can look back at this unemployment number, this wage data, maybe real wages will the positive. that shines a little sunlight on sterling's picture. but at the moment, not at all. chart,i have created a our clients can pick that up. this is the debate, they have raise rates. if sterling crashes, the theory would be they would have to raise rates. i say, have to raise rates to save sterling, would they? does that cause an inversion? would they? i do not think so. i do not think they will go for an interest rate rise. it will be the jawboning and the play reserves to work in the background to hold the pound up

data from the. federal labor ministries show german unemployment ticked up slightly in august it's in line with expectations because students and school leavers register as unemployed over the summer so the number of people looking for work remains the lowest in twenty seven years posing a challenge as many positions remain vacant it's an acute problem especially in the health sector where there aren't enough young people choosing to work as caregiver us and now hospitals and nursing homes are increasingly turning to workers from abroad who not only are available but also cheaper. twenty four year old christian got souly got work as a caregiver at berlin's shariat a hospital directly after completing his training in albania only applicants with good german language skills had a chance here at europe's biggest university clinic otherwise the paperwork on the wards would have been too difficult or how i'll go through the hole in the hospitals at home we have a different system here the documentation is more important everything has to be recorded up about this or that or the organization here is a better stru

also in chicago, if you look at the data, everything from economic spending to unemployment rates for black americans is specifically, it's moving in a positive direction. and it has been for a significant. of time -- a significant period of time. to 30% more 15% than the national median. the crime went up, and murders hit 792 in 2016. that's a big jump despite positive movement in these other socioeconomic indicators. i'm not sure there is of a relationship to speak of. there differences between suburban and urban areas and are their economic arguments that mr. chatman was referring to? are, but there are also very blighted poor areas in other parts of the country that do not see that sort of violence. cities.ween there are parts of chicago's south and west side that are not as dangerous as authors. -- as others. i think this is an oversimplification. i don't think that that means it doesn't play a role but it is not the driving factor is not the driving factor. people are undervaluing what and incarceration practices can do in the short term to stem the tide. host: mr. mangual joins

data. unemployment falling to 4%, lower than the 4.2% estimate. wage growth slowing to 2.7% from 2.8%. pound is trading slightly higher, but it was higher before we got the data. the jobless rate is hitting its lowest since february, 1975. let's bring in julian chillingworth from rathbone. we have seen cable a little higher at the moment. would you be a buyer of sterling right now? julian: probably not. we have a bumpy ride until the end of the year. consequently, if i was a dollar investor, i would not be buying cable at the moment. dollar strength has further to run. what does that mean for your allocation across other u.k. assets? u.k. market is fairly low at the moment, is that an opportunity? julian: we think u.k. assets are cheap. probably until the end of the year, and hopefully get more clear about brexit, there may be opportunities on domestic plays as well as international plays. -- the ftse has health ftse itself, we have seen a lot of investors exit over the last nine months. if the situation where to improve slightly, and there were clarity over the negotiations around brex

large companies with well over a thousand employees and there was an unusual decline in unemployment. it's one dataere going to see the impact of the tariffs and the escalating trade war on the job market, it would probably show up there something we have to keep our eye on it's also consistent -- we run a survey off of our website and confidence of businesses, particularly large companies has weakened considerably. there are some data points coming together suggesting that the escalating trade war may be starting to have impact on the job market >> one of the sources of this idea that underlying growth in the labor force is 60,000 or 80,000 comes from the fed. so what we're watching here is we're watching employment grow at twice or three times what the fed thinks is the sustainable rate so does the fed just sit by at this current gradual rate while we add 200,000 a month and see that unemployment rate shrink? or do you think it has to accelerate its rate hikes in order to respond >> well, at the very least, they have to stick to their script. they say they're going to normalize rates in a consist

i think it seems like these kind of data point, low unemployment rate, the add-on with the jobs, is playingcomes to trade tensions with china. they think in washington that they are standing at a position of strength and want to take this opportunity to hit back against china, but that appears to be one of the factors playing into this. how long can this be sustained for? jerome powell has warned there could be anything of animal spirits. g of animal spirits. sustainability is key. i am looking ahead to this number later today. 193,000 expectation. rishaad: tom, give haslinda a chance. the lion city. how will you roar, haslinda? [laughter] tom: i am thinking on -- bankinga: i am on emerging markets. there are signs that could be changing. we have seen how emerging markets are doing better than china. the question is whether that is sustainable. can emerging markets avoid the contagion risk? can the one keep falling -- the yuan keep falling? we are pretty optimistic that they can, but we do not really know. haslinda, i am afraid david has not managed to shoot -- get that slingshot and hit to

data. hadave eurozone gdp and we u.k. unemploymentings i will be discussing in the next hour. ♪ mark: 30 minutes left in the trading day today. i mark barton. julie cosi new york, i'm julie harm -- julie hyman. this is the bloomberg close on bloomberg markets. ♪ mark: deutsche bank, the risk officer says the bank risks are manageable. we will get inside of what is .ext in the markets -- do speak with the cfo not miss that. have a look at european equities. the ones rising, these are the ones declining. off the highs of the day, a performance for some of those periphery markets. yesterday, we saw periphery markets fal

the unemployment rate is expected it fall to 3.9% the data comes as the federal reserve decided to keep rates on hold but did signal the potential for two more rate hikes this year. i'm pleased to say we're joined by lindsay piesa great to see you thank you for joining us let's get your forecast on the jobs number today. is there a chance we see a surprise to the upside given some recent prints on the employment outlook >> non-farm payrolls have been consistently positive. we're looking for that trend to continue we're looking for around the 190,000 number we're slightly weaker looking for 185,000. the big focus this morning will be on that average hourly earnings number. it's no longer a non-farm payroll friday, it's more earnings friday. we want to see what's happening in the labor market in terms of wage growth. the median consensus is looking for 0.3% increase. it's unlikely we get that much rebound after a disappointing number last month. we're likely to see 0.1% or 0.2% increase, so keeping us closer to that 2.5% trend pace which is absolutely positive. for americans we are lookin

i think some of the data african-american real earnings and unemployment at historic lows, latino, etface of some of the rhetoric where you hear whatever he said, great people on both sides. i don't know why he has decided to sort of take an issue with the expression of individuals in the nfl. i think that we've all been blessed to live in a great but flawed nation, certainly disagree with their decisions, but respect them and their right to make their decisions. i'm not the president. i can't channel him. i would do a lot of things differently. what we need to do is i think look at outcomes and less at rhetoric and then, ryan, truly focus on those things which unite us while acknowledging things divide us, and listen respectfully without hate and attacks against people on both sides. shameful and unamerican >> let's talk about charlottesville, the area you represent in congress. what things are like a year later. have you been in contact with police how they plan to maintain piece on the anniversary, are you satisfied that order will be maintained this time around? >> look, to be com

some references to lag from london -- low unemployment that have yet to filter through to the data. that supports the outlook for them. trade was mentioned as a downside risk by all participants at the fomc meeting. however, the tone sounded less concerned than the meeting in june. a all systems go for quarter-point in september, likely a quarter-point in december and possibly one more in january before they posit, take a breath and say, where are we going vis-a-vis neutral? the answer is, they are probably getting close by that time. >> it was a historic day as there were two former aides of president trump, paul manafort and michael cohen, were both convicted of felonies within minutes of one another. guilty byrt was found a jury on eight of the 18 counts against him, including bank fraud and tax evasion. pled guilty tok tax evasion and campaign finance violations. >> if michael cohen can tell robert mueller, and in some ways, back that up, that donald trump knew about the hacking of democrats, that russians had any kind of role in that, he or his people have said so far, then tha

the poll was going for a 98,000 increase the job list total according to the data down 65,000 this has taken the unemployment to 4%, the expected rate was 4.2% this is the lowest level since december 1974 to february of 1975 for this to be inflationary, to have the bang for the buck in terms of what the mpc does next on interest rates, there has to be an increase in earnings uk average weekly average minus bonuses up 2.7% in the three months through june. that's the weakest increase since january. 2.7 % increase, weekly average earnings june was 2.8% the figure, the net figure including bonuses is 2.4%. the poll was 2.5 some of the improvement that did take place, the public sector pay was going up private sector was down. >> that's all those advisers on brexit, isn't it i want to test your theory do you think if we had a hot number today it would trigger a rate hike? it feels like the window for hiking might have closed after the august one we had. and there's no more room now given that the brexit scenario coming our way next year >> we have to look at it in relation to what we're seeing in the broader inf

data. look at unemployment, record low unemployment among black voters.in taxes and regulations where anyone, no matter who you support politically, if you are a beneficiary of a bonus, of higher wages, of a job, people are taking notice. and don't forget democrats want to kill the tax cuts if they take control of the house. so we need to keep that in mind with the policies that are helping all americans -- >> if people voted their pocketbooks. go ahead, ben. >> at some point the middle class taxes, they will go up. when it comes to donald trump, let's also not forget he is very divisive. this is the anniversary of charlottesville and, this is, of course, a president who said there's good people on both sides. he also just recently picked up his attacks on nfl players kneeling during the anthem to protest police brutality. so i understand the frustration. connell: do people vote their pocketbook. i mean, deneen's arguing that some people may acknowledge that and still vote because their life situation is better, their unemployment rate has improved, their

society terry but it's difficult to get the right people for it fresh data from the federal labor ministry show german unemploymentcked up slightly in organs it's in line with expectations of students and school leavers registers unemployed over the summer and the number of people looking for work remains the lowest in twenty seven years that's posing a challenge as many positions remain vacant it's an acute problem especially in the health care sector where there aren't enough young people choosing to work as caregivers now hospitals and nursing homes are increasingly turning to workers from abroad they're not only available but also cheaper. twenty four year old christian got souly got work as a caregiver at berlin's shouted to a hospital directly after completing his training in albania only applicants with good german language skills had a chance here at europe's biggest university clinic otherwise the paperwork on the wards would have been too difficult or how i'll go through the hole in the hospitals at home we have a different system of it here the documentation is more important everything has to be record

the unemployment rate in thailand is at 1%. i'm not saying the data is wrong but why is it so low? ral changes in thailand, unemployment has been rising recently because of how people are changing their behavior and doing more freelance work and also because of the robots in manufacturing sector will stop i think the unemployment rate for thailand has been rising recent. much, joining us from bangkok. president macron has made it quite clear he doesn't want to see rate hikes. but the nation may be headed towards tighter conditions after policymakers stopped banks from borrowing at the benchmark repo rate. let's bring in enda curran in hong kong. forcing banks to borrow from high has the same effect as a rate hike. >> exactly right. the current benchmark cash rates, what they are doing is there is an overnight rate, which is of a higher charge antedating the cost of money, there's a feeling that if he goes step further they could force an emergency, so you could effectively have a kind of act or rate hike, which is all part of a push by policymakers to try to get some support on the

culture issues and national anthem, that seems to me like you look at the data, wages are still stagnant for a lot of people. unemploymente not -- a lot of economic growth is happening like in washington, d.c., not in sort of rural areas of the country. i do think that approach is like smarter one. but it still may not work. the worry for the republicans should be, you might lose 50 if you have low turnout among the trump base but high turnout among suburban people who swing from trump to democrats. >> it's a great point. we'll come back to the democratic side in a few moments. one year before he blamed both sides, half of america, half of america sees the president of the united states as a racist. now t-mobile has unlimited for the rest of us. unlimited ways to be you. unlimited ways share with others. unlimited ways to live for the moment. all for as low as 30 bucks a line. unlimited for you. for them. for all. get unlimited for as low at 30 bucks per line for four lines at t-mobile. introducing e*trade personalized investments professionally managed portfolios customized to help meet your financial goals. you'll know

from 3%, but narrow isn't a bad thing as we get ready for the two biggest pieces of data this week after the unemployment reports. of course i'm referencing ppi and cpi, these will be important at the end of the week and my guess is if they're even mildly on the hot side we should be able to cross into the 3% zone >> you mentioned outside the u.s. is where you're looking we don't have much time, give me one or two countries outside the u.s. where you think there's opportunity. >> sure, mostly in europe. japan has kind of played out as far as i can tell. in europe we purchased a couple of companiess. one is merlin. merlin is probably unfamiliar to most of you, but you'll know their theme parks which they operate, and there are midcaps we're finding particularly in asia and latin america where we're able to deploy some assets >> matt, very quickly, tesla up to 420 or are you not certain enough on the news >> oh, wow, this news here really conflicts a lot of us as far as traders go or what you're getting as far as the price target goes as the chairman of the company. but i certainly think there's some arm s

. >> alcindor: it's a data point that president trump has raised >> the african american unemployment rate haeved the lowest level in recorded history. u african americmployment is the best it's ever been in the history our country. >> alcindor: and as a candidate, president trump made this pitch to african-american voters, a pitch that was seen as both blunt and controversial. >> look hoammuch african ican communities have suffered under democratic control. to those i say the following: what do you have to lose by trying something new like trump? i say it again, what do you have to lose?in oou're livinoverty, your schools are no g you have no jobs. >> alcindor: today at the white house several black pastors said he had helped improve life in inner cities. as part of his plan for urban areas, president tru i put ben carscharge of the department of housing and urban development. it's a role carson has used to look into tripling renan for poor t using federal assistance. he has also slowed an anti- segregation initiative and saidt pois a state of mind. those moves have angered some who

unemployment remains high despite the poor unemployment figures because many young people have stopped actually seeking work. after the revelations about facebook allow user data be shared with firms like cambridge and a little earlier this year people all around the world were in an uproar facebook c.e.o. mark zuckerberg testified before the u.s. house and senate and in the u.k.'s parliament and importantly at the end of may the european union finalized what is known as the general data protection regulation or g.d.p. are our regular boom busters may recall that we had privacy expert miles edwards on the program to explain g.d.p. are he did a splendid job well now legislation or deuced in the u.s. congress would do some of what g.d.p. are has done in the states and we are fortunate to have with us again global regulatory authority miles edwards miles thank you so much for being here well thank you part for inviting me back but such an interesting and important topic for us as consumers but for these big businesses these big bank stocks etc so let's start with this senate bill introduced by democrat amy club a char and republican john kennedy the it's a called

yvonne: kicking off this friday morning with breaking data coming out of south korea. the unemployment rate for july missing estimates. had.from the 3.7% that we we have been tracking whether the government efforts to lift are making headway. it does not seem like the case so far. we have seen a lot of weakness in investment. corporate restructuring should weigh on certain sectors. they have sustained these type of levels as crucial for the bank of korea. especially when it comes to exports. ramy: let's get a quick break cap -- we cap. -- recap. s&p 500 up .8%. that is the most in the past three weeks. the second time in the past six trading days. all s&p sectors, a broad rally. talks about talks between the u.s. and china and also with walmart. let's died deeper into the market close. walmart has seen strong earnings, helping make it a day for the bulls. weekend -- weakened. walmart, the world's biggest retailer blowing out on earnings. cisco come in with a broad quarter. it set up the day as one for the bulls. 1.1%&p 500 coming within of its january high and nasdaq rebounding. the do

data right now. the economy growing at 4% with a 3.9% unemployment rate and an inflationary target, you do need to seerent path. nejra: matthew luzzetti of deutsche bank will be staying with us. coming up on "bloomberg markets: balance of power," you do not want to miss it. 12:00 p.m. in new york, 5:00 p.m. in london. this is bloomberg. ♪ n. this is bloomberg. ♪ kevin: -- julie: this is "bloomberg surveillance." i am julie ryan spirit shares of iwg plunged today. it does not want to be sold at the price that equity firms wanted to pay. it told them it will not continue discussions. profits soar that softbank. 49% boosted by the earnings. the company also gained by selling a unit of a subsidiary, a.r.m. a semiconductor company that makes chips for iphones as it was -- says it was crippled by a virus. it should several - it shut several factories, just as the company ramps up for the new iphone. that is the bloomberg business flash. matt, nejra? for thatnks very much very you can trade secretary liam fox says brexit talks are more likely to end without an agreement and with one. speaking to the "sunday

expected we're seeing earnings in great order, and then we're seeing the economic data continuing to come in strong. unemployment below expectations at 3.9%. gdp, we can continue to go through all the positives. when i look at the risk, i guess it's really watching what is coming up right now, and that would be certainly interest rates and from the fed coming in september, and midterm elections not too far behind, but i think overall there's enough strength in the economy for it to keep moving along pretty nicely >> so, jason, you sound very positive, but you just throw your money at the s&p 500? you just buying etf? are there certain sectors that are going to outperform considering your viewpoint of where the economy is going >> that's a great question, and it requires a lot of nuance, unfortunately, right it depends on the investor if you are a young investor, and you have a 30-year horizon or more, and you are just starting to invest, it makes sense to go ahead and buy the s&p and low cost index if you are an investor that has more of a complex financial situation, then you have certain requirements, whether

so although employment data seems to have cooled off a little bit in 2017, the unemployment rate in san francisco as of july 2018 was 2.6% which is even lower than it was at this point last year. as well as a full report is available on the planning department's website, and we published the data on our website, and at datasf.org, and i'm happy to take any public comments or questions after public comment. thanks. >> vice president melgar: okay. we will now hear public comment on this item. okay. seeing none, commissioner richards? >> commissioner richards: question for mr. ikezoe -- i didn't get your name right, did i? >> it's ikezoe. >> commissioner richards: when i said it, i realized it wasn't right. couple of questions. i read the report. you know, the new development is supported with the infrastructure -- all great stuff. throw a slice of apple pie in there and we've got one of the best things there. when you look at the fees like the jobs-housing linkage program, what's collected. that's on all new commercial development, not a recurring annual basis on existing, correct? >> cor

. -- references to lags from low unemployment that have yet to filter through to the data, another thingt sort of supports the outlook for them. trade was mentioned as a downside risk by all participants at the fomc meeting, but the tone sounded less concerned than at the meeting in june. the new downside risk mentioned was the possibility that the fiscal stimulus we received so far may not get the economy as as of a boost as they -- they previously anticipated. that is noteworthy. the chairman specifically said likely soon be appropriate to resume a discussion on where to take the balance sheet and point later in the fall. that was kind of an interesting tidbit for fed watchers who are not interested in seeing the chairman being called out specifically. the neutral rate discussion of where they go next, they didn't really say much. but one thing they did say is that it would be a little more confusing when you get to next year, because there are so many different estimates of the neutral rate that there would be different -- described as accommodative or restrictive or that sort of thin

data front, we are waiting on jobs figures for july. when you check out the ego function only terminal, we are expecting stagnation in unemployment rates.orecast is for 15,000 jobs to be added. a dim outlook to the economy after poor consumer confidence data for august and subdued wage growth for the second quarter. ahead of today's data, aussie 10 year yields fell as much as three basis points. the employment market is not looking buoyant according to the ceo of a strenuous biggest jobs australia'seo up biggest jobs website. checking in on stock performances for the year, the companies -- the countries biggest telco, competition has heated up and stocks have narrowed. are going to be keeping an eye on resource players. commodities are hurting, copper weekreate sinking to a 10 low, gold sinking fewer -- further. let's continue this conversation. if you name any commodity on the board or elsewhere, you can bet it has a bad day. copper fell into a bear market. asian mining and metals reporter david is here to make heads or tails. expected?osses as sophie was saying, across commodities it has been a dreadful 24 hours. everything from agric

data points of past trade wars to gauge us in that. wehaps the bigger risk is are operating at capacity. we saw that in unemployment numbers. we suited to see a pickup in wage and price inflation. we would like to see some pickup. it started to pick up more rapidly, that would be a bigger risk to the economy. trade is a lingering risk. one that we've had a hard time putting up a precise number on. looking at a chart given the tightness we are seeing that much of growth as we saw it coming in today. what do you think is holding it back? >> first and foremost, productivity growth has been low and slow in this cycle. the long runf determinants of sustainable wage growth. beyond that it is a mystery. it could be lagged. we have to wait a few more quarters before we see more wage growth. there are arguments that there is some shadow out there. tenuousbecoming more based on what we solve this morning. i would say first and foremost, low labor that activity growth and a matter of time before we start to see more rapid gains. caroline: do you take issue with the idea we are getting back to one and a half to 2% productivity? >> i wo

data -- >> i've been on your show before. >> trish: i know. but 4.1% gdp growth is a great thing. unemployment which would be the lowest since we started tracking the stuff. i mean, we're in what any economist would tell you is a very good economy, very much a sweet spot. look at african american unemployment. look at hispanic unemployment, women. all of these groups which previously have been seen as having a harder time in a tough economy are doing much antoine. >> trish, while i don't disagree with you that the economy is doing well, what polls and polls have indicated economy may not be the -- >> trish: there's the president, by the way, getting off the plane. keep going. >> therefore -- >> you bring up the term trickle down. what we've seen is not a trickle down. we've been seeing labor participation growing and a labor more inclusive. government is not tamping down and limiting opportunity. the deregulatory push is huge for entrepreneurials. particularly of people of color -- >> trish: when you look at the economy and you see the success, it's a good thing, antoine. that's not what peopl