craig golder, pregnan bishop, and brian rehling joining us from st. louis.ing up, the auction block. esla sale of $1.5 billion dollars in bonds is testing the market. we will go over all of it. this is "bloomberg real yield." ♪ ♪ scarlet: i am scarlet fu. from new york, this is "bloomberg real yield." let's take you now to the auction block. there was $62 billion in treasury auctions this week. you had the sale a three-year, 10 year, and 30 year debt and a 30 year sale. and direct it is took the highest share on record, while in the three-year, p the lower share in 14 years. on the corporate side, tobacco selling billions in bonds, ranking second in the biggest offerings. it will refinance the buyout of reynolds american. the debt sale that has everyone talking -- tesla. the inaugural junk bond issue price at about 5%. to 1.5 billion sale of senior notes best the $1.5 billion sale of senior notes as it ramps up production of model three. michael: we're back with rachel golder, craig bishop, and brian rehling from the wells fargo investment institute. since w

coming to us from st. louis, head of global fixed income strategy. i want to start everybody with a achrt showing what jeff gundl is talking about. option spreadss and duration, when duration is really high, spreads impressing. is the terror we heard of all of those people's versus -- voices, is that justified? is he right to start pulling >> we don't disagree. we have been taking risk down steadily over the past couple of months. we are targeting an underweight to risk assets including high-yield investment grade and emerging markets, but it is nuanced. we don't worry about the current fundamentals. portraits are healthy, leverages high, but not increasing. they spent the last few years extending maturity profile at a low cost to debt. we see low spending and don't expect it to pick up your the question is are you being adequately compensated for the al attila the and -- for the volatility and illiquidity. high-yield tends to underperform and we see triggers for volatility to go up. scarlet: maybe it is for that reason, brian, you are underweight an

coming to us from st. louis, brian reeling, head of global fixed income strategy. want to start everybody with a chart showing what jeff gundlach is talking about. this chart shows spreads, the yellow shows option spreads and duration, when duration is really high, spreads impressing. -- spreads compressing. is the terror we heard of all of those people's voices, is that justified? is jeff right to start pulling back? >> we don't disagree. we have been taking risk down steadily over the past couple of months. we are targeting an underweight to risk assets including high-yield investment grade and emerging markets, but it is nuanced. we don't worry about the current fundamentals. corporate's are healthy, leverages high, but not increasing. they spent the last few years extending maturity profile at a low cost to debt. we see a low default rate. we don't expect it to pick up soon. the question is are you being adequately compensated for the volatility and illiquidity. we are facing a period where all ability could be higher. high-yield tends to underperform and we se

from detroit. we continue on the theme now with more on auto sales. jeff joins us live from st. louis.e you had a little bit of what jamie butters was saying in your ear there. do you agree with him? it was a pretty terrible quarter for detroit automakers. jeff: definitely. peak auto has been something on the line for a lot of investors. obviously the results today were lower than expected. i would say though, however, there is some agend advantages with what the economy is promoting -- low gas prices, low interest rates. we are really seeing a healthy demand for trenton suv's, which are most profitable for automakers. vonnie: how long can this continue? if you look at the chart 1000, the total annualized u.s. auto sales has gone down and really quite a bit in the last couple of quarters. the blue line is the average age of a car and that continues to rise. we are heading around 12 at this point. how long can car sales decrease? jeff: historically this is a cyclical industry. you do have three to five years of potentially a downturn. i really think the question is potentially how signi

coming to us from st. louis, head of global fixed income strategy.what jeff gundlach is talking about. the yellow shows option spreads and duration, when duration is really high, spreads impressing. is the terror we heard of all of those people's versus -- voices, is that justified? is he right to start pulling back? >> we don't disagree. we have been taking risk down steadily over the past couple of months. we are targeting an underweight to risk assets including high-yield investment grade and emerging markets, but it is nuanced. we don't worry about the current fundamentals. portraits are healthy, leverages high, but not increasing. they spent the last few years extending maturity profile at a low cost to debt. we see low spending and don't expect it to pick up your the question is are you being adequately compensated for the al attila the and -- for the volatility and illiquidity. high-yield tends to underperform and we see triggers for volatility to go up. scarlet: maybe it is for that reason, brian, you are underweight and high-yield. how much

amy: that is traci blackmon speaking to us from st. louisho was in charlottesville this weekend, i friday night addressing people in the church, and on saturday on the street. is alsor jalane schmidt with us. you are with black lives matter. you were very involved with organizing around what took place. can you tell us what happened this weekend, what you understand what was going to happen, how people organized, response but all of the authorities? jalane schmidt is just being seated right now so let me go to cornel west. i heard with the guardian reported that people that night who were responding to the torch march were actually attacked with torches, pepper spray, and lighter fluid. >> absolutely. yet a number of courageous students of all colors of the university of virginia who were protesting against the neofascists themselves. the neofascists had their own a munition. the police for the most part pulled back. the next day, for example, of 220 of us were standing, many of them clergy, we would have been crushed like cockroaches if it

thank you very much for speaking to us from sainsbury‘s. —— st louis.d in the us city of boston they are protesting against what's been billed as a "free speech rally" featuring far—right speakers. the crowd has surrounded a fenced—off area where the event is due to take place on boston common. we can speak to a reporter from the boston globe newspaper. please describe what is happening for us? absolutely, right now we have counter protesters gathering on charles street and union street, where they are kind of listening to speakers and getting out their frustrations with the fact that they have had problems with this rally. they were supposed to be two speakers, including one man who was that it charlottesville rally. 30 minutes ago, people associated with that rally came off of the bandstand and that was met with applause from what appears to be tens of thousands of protesters, who surrounded the area, the barricaded area, chanting at then all time. what is the others rely? i do not know if you were hard cha rlottesville rely? i do not know if you were

kathleen joins us now from st. louis with a preview.ullard is known for being a little bit of an outlier. what do you anticipate he might tell you about inflation today? kathleen: well, he is certainly -- it is great for being here and face for hosting a very special show. simulcasting this line. -- live. inflation is the biggest one. inflation has not moved closer to the fed's 2% target. it is pulling further away. jim bullard had been saying, i don't think we need any rate hikes right now. we are in a new regime in economy. growth is stuck at 2%. just a couple days ago, he said, no, the level of rates are appropriate. this is where they should state. that is one of the big topics i want to dig into.inflation has become a global problem. vonnie: i am pulling up a chart, kathleen. 884111 is the chart you can look at. how in fact will they start to pan off some of those securities? kathleen: he has pretty much been pretty clear. they have given us the outline for how they will start this process, reducing the reinvestment of proceeds fro

us another word? >> amazing. epic. >> we came from chychrun. a lot of people from chychrun. are you staying in a hotel? >> we stayed at a hotel in st. louis last night and made the rest of the drive this morning. >> it took us about two and-a-half hours. >> that's a pretty committed trip from chychrun to st. louis and st. louis to carbondale this morning. >> wanted to make sure the kids got an opportunity to see something like this. >> this is amazing. it will be around in 2024 again, right? shep it's a pretty cool environment here. it's called a sell less sir al super bowl, if you will. >> i was going listening, i see you had to get a ticket to get into the stadium there. you say they're going to have 15,000, is that true? >> the stadium hits 15,000 capacity. i have to say as you look around you can see we're probably nearing capacity. >> guys did you buy a ticket to this event? how much did it cost you? >> 25. >> what is the most expensive ticket today? have you heard? >> no idea. >> there's breaking news. right now we have an -- all together now. >> total eclipse of the sun. >> where is it now? come on, it's in beatrice nebraska. matt

from st. louis is it. >> i am from st. louis, missouri. reporter: how do you feel being down here. >> it's a chore. we arrived sunday evening. not only usquite a few federal agencies, quite a few agents. reporter: this is not government coming in here is how to do it. you're cooperating with the local guys to volunteer. >> that is absolutely right. everybody knows best. we learned from experience. it has gone incredibly smooth as be expected. reporter: how is the water? >> a little cold. reporter: hot on the outside but in the water after you dunked it is chilly. this is the edge of kitty, the border between katy and houston. beautiful homes back there. talk about the hit that, the federal government as well as insurance is going to take. it will be incredible. cheryl: jeff, in that water, watch out for water moccasins and rattlesnakes. ashley: great. reporter: you're a texas girl you should know what is in the water. exactly. cheryl: be careful to all of you. thank you, jeff. reporter: i'm in the boat. ashley: in a boat. dea from st. louis down there as well. as you heard, jeff mentioned insurance. hurricane harvey is a disaster of pos

louis, us from st.il and that transition to e-commerce, and that is bill simon, former walmart ceo. this appears to be a battle of titans, between amazon and walmart, as we go into e-commerce spirit who is winning the war? >> i think it is too early to tell. amazon is clearly a power in the digital and online space. their acquisition of whole foods is a game changer for them. admission,an frankly, that with a brick and mortar retail, they cannot accomplish what they want to accomplish. i think you have amazon trying to move more to be like walmart and walmart trying to be more like amazon with the recent acquisitions of jet and other companies and their partnership with google. i think it is fantastic and exciting to watch. it is probably too early to tell who is winning. david: this is your pedigree to it you did come from walmart. when you look at bricks and mortar moving into online or online moving into bricks and mortar, which strategically has the advantage? which is easier to do? >> physically ea

and then used laughter to morph into biting and satirical commentary on social and racial issues, died in washington last night after a short illness. gregory emerged from poverty in st. louis in the 1960's to find unconventional, unexpected fame as one of the first black standup comics that had crossover appeal with white audiences, paving the way for such other black comic greats as richard pryor. one of his big breaks came in 1961, when he found himself on" the tonight show." gregory was able to make people, white and black, laugh about sensitive race issues, once saying "i gave the country a new way out-- healthy racial jokes"" >> baseball is a great sport for my people; it's the only sport in the world in which a negro can shake a stick at a white man and not start a riot. >> sreenivasan: but comedy wasn't gregory's only passion. he would go on hunger strikes to protest the vietnam war, police brutality, native american rights and was frequently arrested. gregory was shot in the leg while trying to defuse the watts riots in 1965. he can even be heard on beatle john lennon's anti-war song," give peace a chance." and gregory also tried politics, running unsuccessfully fo

they used a gene-editing technology called crispr to remove viruses from pigs that could have diseases in humans. they say pig-to-human transplants could happen within two years. in st. louist night, the cardinals had the bases loaded in the sixth. cue the rally cat. around it ran, all over the outfield. a groundskeeper scooped it up, and was bitten repeatedly. but when play resumed, yadier molina hit a grand slam on the first pitch. the cards beat the royals 8-5. the groundskeeper is fine, just a few cuts. the cat is on the loose. here's hoping the mets find him. up next, three friends bringing their neighborhood a new era of pizza and prosperity. the ford summer sales event is in full swing. it's gonna work, i promise you, we can figure this out. babe... little help. -hold on, mom. no, wifi. wifi. it's not a question, it's a thing. take on summer right with ford, america's best-selling brand. now with summer's hottest offer. get zero percent for seventy-two months plus an additional thousand on top of your trade-in. during the ford summer sales event get zero percent for seventy-two months plus an additional thousand on top of your trade-in. offer ends soon. we dei shoul

us from opening up more high schools. them -- o not have in st. charter schools louis and phoenix, in addition to the publicly run-privately funded schools. this is a different thing because there are a lot of different parental expectations and students expectations at the high school level. and studentsarents start thinking about things outside of just academic programming. they start thinking about the experience that they had. school reputation comes into play. dominance of the athletics program. you think about the music program, auto classes, welding, shop. a lot of those things play into what people expect from a high school and all of those things are very expensive. not just because of additional programming and staffing, but you need additional spaces to house the programs in. the cost of high school goes up quickly. unfortunately, the dollar charter and choice, whether scholarship, to wish and, or vouchers, it does not keep pace with parental expectations. you try to find specialized teachers, like a spanish teacher, a shop teacher, a basketball coach, a foo

us from opening up more high schools. we also run charter schools in st. louis and phoenix in addition to the privately run private schools in milwaukee and racine. that is because high school is just a different animal because differenta lot of expectations and soon expectations at the high school level. that's when parents and students start thinking about things outside of just academic programming. they start thinking about the experiences they had. the school reputation, domination in the fy program. how nice is the gymnasium. you think about the music program. kevin mentioned auto or shop classes. a lot of those things play into what back of my high school. all of those things are expensive. and not just because you're adding additional programming but you need unique spaces. selfost of high school is starts going up quickly and unfortunately the dollar amount for charters and choice in terms of whether it is scholarships and tuition does not keep pace with parental expectations. figuring out how to offer those many different things you are trying to find

about this during the break, all of us here, but moving on now to talk about a democratic missouri state senator from the university city posted this is in st. louisted and quickly deleted this facebook thing saying she hoped that president trump would be assassinated. she came to prominence in the ferguson and michael brown situation. quickly took it down. the u.s. secret service and st. louis office investigating the chairman and democratic party called on her to resign. >> there's no excuse for that. no reason for that. clearly, an emotional issue, clearly, when this started over the weekend, we could see things bubbling over. unfortunately, i think the president from the get-go didn't handle this correctly with regard to not coming out completely unequivocally denouncing hay dread, bigotry, and racism, and that was -- he dropped the ball, but what that has done, that's created a ripple effect of emotions and conversations and discussions and this is where we are today. >> yeah. look, the president has to own his words, responsible for his words, and she said the way i responded this morning was wrong. did i mean the statement in no. i'm frustr

they used a gene-editing technology called crispr to remove viruses from pigs that could cause diseases in humans. they say pig-to-human transplants could happen within two years. in st. louishe cardinals had the bases loaded in the sixth. cue the rally cat. around it ran, all over the outfield. a groundskeeper scooped it up, and was bitten repeatedly. but when play resumed, yadier molina hit a grand slam on the first pitch. the cards beat the royals 8-5. the groundskeeper is fine, just a few cuts. the cat is on the loose. here's hoping the mets find him. up next, three friends bringing their neighborhood a new era of pizza and prosperity. >> mason: we end tonight with a pizza place that delivers, not only to its neighborhood, but for it. here's jim axelrod. >> reporter: it's hopping at slim and husky's pizza, and it's not even noon yet. the owners are three budding entrepreneurs. e.j. reed is the slim. his college roommates derrick moore and clint gray, former football players at tennessee state, are the huskies. >> we invested about $1,000 a piece. back then, that's all we had. >> reporter: that was it? >> i don't even know if it was $1,000 a piece. two of us probably had

st. louis fed. let's continue our conversation with a j.p. morgan global bank investment strategist who joins us fromiami. you expect the fed to begin unwinding its balance sheet in september and to raise rates in december. do you hear anything from james bullard that changes your perspective? philip: i did not. there are things to remember. agree that they are going to start in september. we are kind of thinking that they are going to raise rates one more time this year. i think it is important to remember that james bullard is the lowest dot on the fed dot plot. he has been, in many ways, much more dovish about taking away accommodations. waysnk he differs in two from the fomc. he focuses more on balance sheet reduction and less on taking rates higher. but it is not the only voice. we still think they are going to raise rates one more time. i think it is all about getting dry powder for the next rough patch in the economy. you either get dry powder by raising rates now, so you can lower them later, in orthodox monetary policy, or you reduce the size of the balance sheet a little bit. julia: speakin

us. recently one of the most surprising things that i have experienced in this space is that i am from st. louis missouri and i have a lot of friends and fwork aily who are t into technology and i'm effectively thichr it support when i go home. i fixed the printers back back up the iphones. >> and back up -- i got asked by the people i know and the people i met around st. louis was you work in technology and by n. rt and how do right by that point. i asked why do you want to fight between and they said i heaaid it's a pretty fast and easy way to make money. do you want to treat it like an investment and they said yes. what does it digital gold. >> the price of gold right now. >> buying digital gold and how do i do that. ilyve heaaid so mapph about that point and it's amazing how main stream the brand is and id whs t about currency at all to these people ask me this question. it is an investment in one of the interesting things is the fact that one of the incentives that we wanted to put out there was that in teris o of incentivizing sailing on. saving rather than sending and i thinoumacn't say h

st. louis county prosecutors, particularly in death penalty cases involving african-american defendants, they use their peru three strikes -- originally strikes where they can remove blacks frome jury. and most of the capital cases that have come out of that county in the last 15 or 20 years, most of them have had all white juries. us had one black jirga because they did not have enough strikes to get rid of all of them. st. louis county is the same where we had the ferguson police shooting incident a couple of years ago, so there have been racial issues and controversies surrounding the criminal justice system and that county for years. it sort of came to a head with the michael brown shooting and the prosecutor was involved in that and was also, probably one penaltyost pro-death prosecutors in the state at a time where the death penalty is waning and popularity prosecutors are not seeking it nearly as often. he is the exception. he is never seen a death penalty he did not like. marcellusly, williams, his response to a stay of execution. did you deliver the news to him? >> yes. well, i was the second -- the other lawyer on the case was actually at the prison. he told him in

st. louis post dispatch reporter. i want to turn now to greg. he's a forensic expert hired by williams' defense team to look at the dna evidence and he joins us now from biology and criminal justice professor at boise state. thank you so much for coming on. first, your reaction to this stay. >> well, i was actually on the phone with obi anthony, an exonoree who was reaching out to the press through organizations and he told me that a news show that was interviewing him told him there was a stay and so i just started screaming, actually. and he did as well. we were very happy. this has been a very tense, very difficult process. i never expected it to go like -- to be so difficult. we had clear dna evidence. i thought we would get a hearing right away. this, for us, has been a nightmare. i can't imagine what it's like for marcellus, his family, the victim's family. it's really been chaotic. but thank god we've got some breathing time and i hope the board of inquiry will look very seriously at the new evidence. >> so, he was set to be executed tonight, and then this new evidence is brought to light by his defense team. you were waiting for the supreme co

st. louis. good luck from the rally cat that ran on to the field wednesday night before the go ahead grand slam is still pulsing through university of phoenix stadium, apparently. the cards usedake the lead. this time off the bat of dexter fouler. st. louis beats kansas city 8-6 in that one. in the nation's capital marlins slugger john carlos stanton launches his 39th home run of the season. a two-run shot that gives miami a 2-0 lead over the nationals in the third inning. but this game would end up tied in the bottom of the eighth where brian goodwin gives washington the advantage from the solo shot out to the seats in right field there, and in the top of the ninth clinging to a one-run lead with two outs and a runner on third, andrew stevenson saves the game for the nats making a diving catch along the third baseline to put the ma marlins away 3-2. >> too bad the wally cat running out of that luck. that's for sure. >> still ahead, president trump weighs in on the raid of his former campaign chair paul manafort. plus, more on president trump's escalating rhetoric over north korea. we're going to get a live report coming up next. ♪ ♪ isaac hou has mastered gravity defying mov

us what the show is about. the movie couples night is about a couple that moves from middle -- middle america st. louiset's meet some of our neighbors they meet their crazy neighbors that live upstairs were myself and my wife and we take them out and show them the town and the comedy ensues from there. >> where did you get the inspiration for that. >> it was written by young lady in chicago. >> okay. >> and she got in people. i read the script and was immediately drawn to the character i played schenn said nobody else can play this character but you. >> i said if the money is right nobody else will play it. >> bottom line business. you go the to get paid. you got to get paid. let's talk about your another project you're working on game of dating. >> game of dating. >> what is that about. >> game of dating was -- was a dating show where three teams would watch actual dates and bet money on what's going to happen next. the team that won the most money at the end of the show won $10,000. >> okay. >> game of dating is no more. >> right. >> because i will be starting my new sitcom on cbs september 1st. >> o

from seattle. joining us now is professor remy cross, who specialises in protest movements at webster university in st louised in cha rlottesville ? what do you make of what happened in charlottesville? i think it is a tragedy what happened. but at the same time, it fits the wider pattern of how these sorts of groups, and the counter protesters, often, the conflict in these sorts of demonstrations. ok, what do you think is going on right now? is it reaching a peak that you have not seen reaching a peak that you have not seen before? umm, well, you know, there is a theory that says these things come in waves. we certainly saw in the early to mid—1990s, a rise of this sort of right—wing violence with the us militia groups that rallied around events like ruby ridge and culminated in the oklahoma city bombing. we have seen a rise in these groups in the past two years. 0bviously, one of the contributing factors was the campaign and the language that was used, oftentimes, in the campaign of donald trump. by prior to that, the ability of a lot of these groups to organise and find each other on the internet has mad

us. coming up, kathleen hays will be talking with st. louis fed president james bullard at 1:00 eastern time today. live from new york, this is bloomberg. ♪ david: this is bloomberg. i'm david westin. disney reported revenue slightly below forecast and earnings slightly above. the stock moved down over 3% on the news. netflix shares traded off substantially. maybe because of the other announcement that at long last disney is going to go over the top. this may prove more important for the company. they will have direct streaming services not only of espn but also of disney product. potential he bypassing cable providers altogether. him just after his earnings yesterday and how the cable companies would respond. >> we will continue to distribute the espn linear channels. they have been good partners of hours over the years and we have managed to create a highly profitable business. the distributors and the programmers alike have been experiencing the disruption that the whole market is seeing an multiple businesses are seeing from advances in technology and changes in consumer behavior because of that and we f

us in st. louis today. >>> wall street calls of a higher pricing of volatile social media and daily dose of street talk is next. stay with me, mr. parker. when a critical patient is far from hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most. stay with me, mrs. parker. that's the power of and. >>> the first stock is grub hub. that's up from 43. the firm says the company got a growing scale advantage. goldman sachs resumed recovery of blackberry sales. analysts think the street is way too optimistic how their revenue is going to grow in the second half of the year new competition and enterprise and mobility space the autosegment is interesting but yes, it is plateauing, too khem chemours is raising the price from 50 bucks to 36. and mkm raises from 16 to $18 a share. more users, mean more revenues you gate highet a higher price. tyler over to you. >> it is the d word silicon companies cannot seem to get a grip on. we are talking about diversities. "wesendouad in the co hr ofpor. >>> welcome to the