speaking at the g20 summit in riyadh, us treasury secretary steven mnuchin added central bankers were monetary fund also warned the epidemic is likely to shave off 0.1% from the global economy this year. the owner of the uk's best—selling newspaper, the sun, lost £68m last year as sales fell and the company continued to deal with the fallout of the phone—hacking scandal. daily sales of the sun fell by 8% in the year tojuly. its owner, news group newspapers, also revealed a £26] million legal bill related to phone hacking. the organisation fairtrade says the average woman cocoa farmer is paid as little as 23p a day, highlighting a massive gender pay gap in the global chocolate industry. the group wants governments and chocolate brands to join an alliance to increase women's pay. fairtrade says the uk chocolate industry is worth at least £4 billion a year, with brits consuming more per person than any other european country. up next — news briefing. for now, that is you up—to—date on the latest business stories. entertainment venues, businesses and local authorities could be required to

gold this is driving up demand for safety, notjust gold and silver but we saw the japanese yen and us treasury last couple of days. these are safe haven rallies that might be temporary and it might come off when we see a clear turning point of new infections around the globe. you mention the turning point, but of course people are looking towards a turning point where things might return to normal. you could see pent—up demand and a steep rise in growth in later months this year. do you expect that to happen? maybe not so you expect that to happen? maybe not so fast. i would expect the situation to get worse before it gets better. referring to china's case, it takes china more than two weeks before the spread is finally contained. margaret yang speaking to me earlier. it is day two of donald trump's trip to india. the us president kicked off the visit with an address to tens of thousands of people in a cricket stadium in acma bad, of course prime minister mosey‘s home state of gujarat. —— prime minister modi's. you were there yesterday and back in delhi today. what happened yesterday? yesterda

money the civil penalties will go back to the bank investors and the rest of the money goes to the us treasury effect which ups as consumer advocates. the deal does not protect current nor former wells fargo employees from the threat of prosecution. today public health officials confirmed 2 new cases of coronavirus in california. >>one in sacramento county and one in humboldt county. sacramento county officials said the person who recently traveled from china and returned to the us on february 2nd. officials say that person has remained self quarantine after displaying mild symptoms in humboldt county officials said the one confirmed case of coronavirus is a humble county resident. a person who had close contact with the patient is showing symptoms and is also being tested. right now they are being quarantined at home and monitored for symptoms. health officials said the public's risk of exposure is extremely low. today's new cases bring this is the total number of victims in california to 15 and those 15 cases are included in the 34 people in the united states currently testing positive for c

the oil and its oil capturing that evan that exchange in us dollars that then comes back from us treasuries and what have you to help refinance our entire deficit and that's what we're seeing larry in the newspaper industry is in a death spiral cable news is largely a shouting match and corporate radio firings have been brutal can we count on the media to keep us as informed as we need to be and does rely on social media for news coverage condemned us to being gone and formed. every advance has its problems and they are tagged as all advances leading to the internet and social media while they do wonderful things politically they produce they they were poor. i don't think they've been a success at all most of the signs if i turn on the cable channels it's all panelists they have 6 finals some one side to the other everyone has concurring opinions you can't make up your mind i like what a baseball manager said last week 3 words nobody knows anything. but you're right think about it taught programming is less expensive to generate the news programming and the cutbacks of the networks on the l

the the us treasury that held it. fed had it in on its balance sheet under a note now it's so it's of course it's all in asia a lot of it in asia the central banks that have been adding up the chinese the russians in particular the various towns that. look at the bank of england what's the bank of england the bank of england hasn't bought any gold whatsoever so we're not prepared for. a loss of purchasing power if it currencies we have got nothing relative back in syria america has but america has hung on this case united we must never ever invoke the pet rocks again so there's going to be a huge weight transfer mation all thought process before even that it's mobilize. i used to help out with currency but i just don't see that happening in fact britain has sold half of its gold more than 300 tons under gordon brown former chancellor of the exchequer in some dodgy deal with goldman sachs as i recall to bail out somebody somewhere but yeah you guys are aware woefully underprepared for the fear out apocalypse but thank

to study the draft agreement oh no it's among my despite great efforts by the us president the us treasury secretary and the world bank to overcome the obstacles we still need to negotiate this matter further during the negotiations the downstream countries changed their position from rejecting building the dam to how to operate the dam and the water flow we will continue to benefit from our resources without harming anyone. if your peers says it has every right to utilise the blue nile waters but originated from its territory for both farming and the production of hydro power that is designed to produce up to $6000.00 megawatts but egypt believes any dramatic change in the water flows as the dam is filled will cause a crisis on its territory so then for which the nile passes seems the least concerned despite warnings by some of it sr experts have a potentially negative impact on its water supplies it's not clear what progress the a you leaders can achieve during the 2 days of talks while eyes are still on washington and lincoln hopes but the parties will sign an agreement some. are dizzy.

>>let's renju the us treasury right pay their bills they always pay back. but if you can 1.2inflation to 2% you're losing money. so until the the vick settles dowin volatility until the 10 year starts crping higher until the dollar starts creeng higher or til some sortof cataclysmic event where. western union. so sortnext why the bank goes bankrupt. that's when you buy stocks aggressively. this is a great portunity stay away from travel stocks in my l stocks are certain look interesting so there's some value out the. >>we'll talk about travel stocks ecause that's the other angles all of this we've got i thin global travel kind i will say screeching to a halt, but it's going cate it's getting hit prettyhard tourisms airline stocks got to be feelinthe 2 airlines could handle one region like asia china hong kong and getting the train can't handle thwhole world and it's looking like the whole world a little bit freaked out right now. >>air travel demand has been growing at twice the pace of the global economy that'sbeen a bright spot. airline stocks ave had 10

study the draft agreement own little more months despite great efforts by the us president the us treasury secretary and the world bank to overcome the obstacles we still need to negotiate this matter further during the negotiations the downstream countries changed their position from rejecting building the dam to how to operate the dam and the water flow we will continue to benefit from our resources without harming anyone. if your peers says it has every right to utilise the blue nile waters but originated from its territory for both farming and the production of hydro power that is designed to produce up to $6000.00 megawatts but egypt believes any dramatic change in the water flows as the dam is filled will cause a crisis on its territory so then for which the nile passes seems the least concerned despite warnings by some of it sr experts have a potentially negative impact on its water supplies it's not clear what progress the a you leaders can achieve during the 2 days of talks while eyes are still on washington and lincoln in the hopes that the parties will sign an agreement soon 105

several of them are helping fund to trump as election campaign and also has ties with the head of the us treasury bat coronavirus as well. yes, they obviously had to shut down production during the coronavirus, but have now had to reopen production. they have not been able to scale up and was forced to put out numbers and say how this was going to affect revenue for the 30 months of this year. what happened was investors were pretty surprised that a company as savvy as apple was forced to reduce it to projections by as much as it has. look back to the trade dispute between the us and china and how successful apple was at negotiating for that process, and here they are saying that essentially the coronavirus has proved too difficult for them and they expect to see reduced supplies of iphones in the months ahead. and obviously the demand for china, a huge market for them, as taking a big hit. and in a lot of companies, there isn't a plan b as there is no other country that can generate the supplies they require. and during the trade dispute, one at the things we saw was a rethinking of the assessme

won't see that money the civil penalties will go back to the bank investors and the rest of the us treasury, a fact that upset consumer advocates. the deal does not protect current or former wells fargo employees from the threat of prosecution the los angeles times offering buyouts to staffers with at least 2 years of employment the move comes less than 2 years after the beleaguered newspaper was bought by a biotech billionaire who said that he hoped to turn things around. >>a times spokesperson says the move is intended to give them more flexibility to create and higher in no roles staffers were told that there would not any planned layoffs and email to the employee says that they are eligible though for the buyout the california times also owns the san diego union tribune the now defunct spanish language hoy and several small community newspapers next day to talk a little walk in la seems to be what's on the mind of this bear that was strolling through a southern california neighborhood. >>we'll explain it. >>and ahead as force a giant and the a's gear up for their opening spring t i thou

be seeing any of that money the civil penalties will go back to bank investors and the rest to a us treasury. a fact that certainly upsets consumer advocates. the deal also does not protect current or former wells fargo employees from the threat of prosecution and just last month the bank's former ceo john strove paid nearly million to settle charges related to the incident. he was also banned from working in the financial industry for the rest of his life. trump to quit his job as ceo after the scandal first came to light in 2016 ken pam back to hugh grant. thank you, there's a story a police chase that could be straight out of looney tunes a coyote a delayed flights in sacramento executive airport yesterday police helicopters chase the animal away in lima has the video. >>today it's blue skies and clear for takeoff at the sacramento executive airport. but yesterday was a different story, this is the first live copter 3 was overhead as a quick coyote darted across the red white followed closely by the sacramento police department's helicopter our air unit received a request from the sacrame

i was able to use the treasury department's own words and express their frustration.ou can read through the transcripts of what they are saying. in december, just sigh of the boys, a lawyer treasury said "mr. secretary, the only question we have in our minds, i think -- if the bull has to be taken by the horns with this jewish issue and get it out of the state department and to some agency that will deal with it promptly. take the complaint "what are we going to do with the jews? we let them die because we don't know what to do them." another staff member added, we are speaking as citizens now. the treasury department wrote a new report titling it the report to the secretary on the acquiescence of this government on the murder of the jews. town and we have read government reports. that's not generally the title reports.ment it began one of the greatest crimes in history, the slaughter of the jewish people, has continued unabated. steps -- unless drastic are taken immediately i'm sure there will be no effective action to complete the extermination of the jews in german

the best things about studying the treasury department is the fdr treasury secretary all of his meetings. in the book i was able to use the treasury department's own words and express their frustration. you can read through the actual transcripts of what they are saying. at the end of december 1943, a lawyer at treasury said "mr. secretary, the only question we have in our minds, it think, is the bull has to be taken by the horns in dealing with the jewish issue, getting this thing out of the state department and into the hands of an agency willing to deal with it frontally. take the complaint -- what are we going to do with the jews? we let them die because we don't know what to do with them? another staff member quietly added that we are speaking as citizens now. armed with evidence they wrote a new report titling the report to the secretary on the acquiescence of this government in the murder of the jewish people. that is that generally the title of these reports, this is a d.c. town, we know that. jewishaughter of the people in europe is continuing unabated and unless remedial steps of a drastic nature are taken i

us. treasury pushing to key levels particularly the long end of the market.her? -- do we expect them to fall further? david: it is what a lot of people are grappling with. you don't get trading in treasuries today. in the cash market -- my point aside, the 10 year is already near the lower end targets. it is a moving target. a lot of those forecasts haven't yet based in the impacts from this virus of course. 30 year treasury is at a record low. the 10 year is below 1.5%. the record on the 10 year is 1.3% and change. what i want to note, when you china'stwo things, yield curve has been steepening. my opinion is it shows you the market trusts china has the ability, decision-making structure to be able to back up its economy while the jury is still out on what the fed can do. we talk about fiscal stimulus. i quite -- it was a great question, is fiscal stimulus enough? the markets looking outside of china, where you have new curbs flattening as well. -- curves flattening as well. with: a lot more worrisome the korean backdrop. we are hearing from wuhan news south

. >> not just that, when we talk about the odd of a fed rate cut, we're using a treasury market to infer those probablyties so fed funds futures >> very sympathetically traded with the fed >> exactly so part f what i wonder about especially as we know so much of this is international demand, people needing that flight to safety is it always the market demanding these cuts or is it a mechanical reflection of the buying pressure. for the fed to feel this, is it really there. >> the ten-year rate is the sum of ten years of overnight rates or the average over that time, so yes, it reflects what the market reflects from the federal reserve. you are also correct in saying it is a sympathetic response to a flight to safety that as i suggested earlier, it moves all around it's 75% one day, 38% and that is a key to the way the fed is thinking about this. i think they want to wait to see how things settle down exactly where the market is priced outside of what appears to be a certain panicy trade and make a monetary policy decision that has longevity after that. >> just seeps so circuitous. >> we

treasuries. tell us what you are seeing here. towhat's been interesting watch, we know u.s. stock have been doing great, the u.s. dollar has been doing great relative to global currencies. but it is surprising in an environment where u.s. data, up until today what, was holding up well. you could see the spread between u.s. economic surprise indexes and a german economic surprise index widen. the u.s. inching higher, while german's went into negative territory. backdrop, since the coronavirus was part of the market consciousness, that you would see a narrowing of the spread between u.s. and german 10-year yields. when it comes to a flight to safety and everything about the u.s., that outweighs anything having do with the mystic fundamentals. treasuries being first among equals in that regard. vonnie: there is a question about what a 30-year yield at that level means for u.s. growth in the long-term. if this would be a quick coronavirus hit, with a 30-year i really have fallen below 1.90? over the a tough time, past 18 months, going to the bond market, and mapping out no signa

times accused justices in citizens united much having paved the way for corporations to use their vast treasuries to overwhelm elections and thrust back to the robber baron of the 19th century. and the same place that individuals who donate directly to candidates up to legally limited amounts. corporations can contribute well under 10% of political spending and voice is not dominant and the voters have a right to hear and third, citizens united said nothing about foreign corporations spending in political campaigns. obviously, there's a lot of misunderstanding and misinformation and even dare i say fake news circulated about the supreme court's citizens united decision, but i expect at least part of today's discussion may help us correct those interpretations and look forward to hearing the witnesses today. i want to apologize in advance before i >> yield back, a lot of us have multiple things going on this morning, we may be in and out, but it's know the a reflection of the importance of this hearing. i yield back. >> thank you, mr. johnson. and mr. napper is not present. he has a statement he w

the question is will we see fundamentals catch up with what treasury yields are telling us, or just thepposite, treasury yields moving back towards fun a mental's? -- towards fundamentals? a lot of that is product of the geopolitical risk. as those fade away, we wouldn't be shocked to see treasuries push back up. looking at the end of this year, all things considered, probably something close to 2%, assuming that the virus remains contained , the elections go base case scenario. a lot of caveats, but fair value to us is right around 2%. guy: i don't understand what it's going to take to rock the equity market back at this stage. we had the iran story. we've had the coronavirus story, which is ongoing. nevertheless, there just seems to be this instinct to take equities higher. how big an event do we need to see to get equities being brought back here on a sustainable basis, the kind of sustainable basis that would allow people looking to invest cash in the market find an entry point? jack: that is a great question, and to be honest, a lot of the ball you outlined their have held up a str

us. liz: treasury yields. we have seen them plummeting. i think when you look at the ten-year and you start to see that between the ten-year and the three-month, we are seeing that so-called inversion of the yield curve which gives us a sense that maybe there might be a recession. i'm not going to ask you to predict whether we see a recession because we've gotten some good data. today alone, i want to let our viewers know, durable goods came in rather decently for the fourth quarter and gdp was right there as they expected, 2.1%. tell me what you are seeing in the treasury markets and then i want to talk about fed funds futures. >> we are seeing a tremendous amount of activity in the treasury markets, to your point. we haven't seen the ten-year yield go below 1.32 and that is really, i think, a point where people are watching. maybe it's already penetrated that area since i have been wired up for your show here. but again, these are flows that we are seeing that you normally would never see because of the inversion of the yield curve. agai

not see any of this money, the penalties instead will go to bank investors and the rest of the us treasury that and upsets consumer advocates. and the deal does not protect current or former wells fargo employees from the threat of prosecution and just last month the bank's former of ceo john stumpf paid nearly $18 million to settle charges related to the incident. he was also banned for life from working in the financial industry. he resigned as wells fargo ceo after the scandal first came to light back in 2016. i'm going take you outside for a live look at conditions at sfo, no delays there will be ri in a man's world? maybe for the men lash blast from covergirl mega volume in an instant lashes with up to 10x volume from easy, breezy, beautiful covergirl. lowe's is here to ...those outdated appliances. shop our president's day event... and get up to 40% off select appliance special values. like a whirlpool laundry pair now just $856. plus, save on refrigerators... ...ranges... ...dishwashers, and more. do it right for less. start with lowe's. >>welcome back to kron 4 morning news, good m

it helps us do a better job of managing every dollar. $4 billion a year back to the treasury. continue to get better there. it is amazing how it works. it means that we have to get out more and communicate. we saw that on the -- >> we saw that on new year's eve.

-- there is a request in this budget to be a to transition secret service, dhs back over to treasury where used to before. can you give some definition on that? sec. mnunchin: thank you, i appreciate the opportunity to comment on that. let me just first say, that this has support, on a bipartisan basis, from the current president, and the last several presidents. i think you know the secret service has a long history which started at the treasury department to counter counterfeiting. we think that there is tremendous integration moving it back in working with all of our terrorists financing activities and working on our cyber issues and again this is something that has tremendous support within the secret service. >> i look forward to more details on that. >> thank you, mr. chairman, and thank you mr. secretary. i do want to start by just talking about the view from michigan, because certainly the numbers you are talking about are not what we see. and just for clarity under the previous administration, we had about 80,000 manufacturing jobs, up until the last three quarters we had about 12, 000

affected the manufacturing logistics and travel sectors safe havens like gold and treasuries have been surging along with us and the dollar that's not typical it shows investors could be preparing portfolios for a virus led global slowdown. could africa's biggest economy be about to boom again official statistics show output in nigeria rose to an annual rate of just over 2 and a half percent in the 4th quarter that propelled overall growth above 2 and a quarter percent for the year that's the highest level the country has seen since the recession in what he 16 back then a big drop in the oil price led to a massive slump but nigeria's economic output has been growing in tandem with the oil price 70 percent of nigeria's revenue comes from oil in the 4th quarter the country produced $2000000.00 barrels a day more than in 3 years let's go over to. surely a nation with one of the world's biggest youth populations that once a culturally diverse would have more than just to offer. yes. nigeria has more than a 5 i did leave because it has passed a group called chill it has mineral resources and is even making insig

twitter row broke out after uk chancellor rishi sunak posted a picture of him using yorkshire teabags to make cuppas for other treasury staff. the image led to calls by some twitter users to boycott the brand. the company said it had been "pretty shocked" by the outcry, reminding people that labour leaderjeremy corbyn had also posed with its products in 2017. so let's begin with fiona cincotta who's senior market analyst at city index. welcome back. we pick bbc news online because this is a story that has not made the physical papers today, that being the who's papers today, that being the who's conclusion about whether this is a pandemic or not. they are hedging their bets, aren't they? that's right, at the moment they are saying it is not a pandemic, they looking at the number of countries with an outbreak, the severity and impact on society is not at pandemic level, and just to clarify, pandemic here is when it is infectious disease that spreads easily from person—to—person in many parts of the world, so basically what they are saying is that using pandemic doesn't the facts, but it could cause fair but also we cou

there is some announcement that recently happened that are trade u.s.ow you treasury repo using blockchain are going to see that happening this year. you are going to start seeing other projects in different industries like the health care space starting to move closer and closer into production. at the end of the day, technology is pretty invasive and there was a lot of hype, but at the end of the day, to implement this kind of technology that is pretty invasive into some core systems will take some time but i do think this year, you will start seeing some of these products in production. emily: facebook with libra make a lot of noise last year. we've seen some of the biggest players drop out. would you count facebook out of the discussion at this point. yuval: first of all, this entire industry should thank facebook for their effort, because i skeptics have gotten a wake-up call and that is a good thing because at the end of the day, this technology will happen and will shape the next technology, so from that perspective, i think the industry owes a lot of thanks to facebook. when it com

twitter row broke out after uk chancellor rishi sunak posted a picture of him using yorkshire teabags to make cuppas for other treasuryalls by some twitter users to boycott the brand. the company said it had been "pretty shocked" by the outcry, reminding people that labour leaderjeremy corbyn had also posed with its products in 2017. so let's begin with fiona cincotta who's

citizens united supreme court struck down is unconstitutional ban on corporations and unions using general treasury funds to make expenditures for the express election or defeat of a candidate. it held wrongly in my view this ban violated corporations first amendment first speech rights. unjustified of buckley versus ha l vallejo. in handing down the decision, it overturned decades old spending by corporations and unions. the negative effect of citizens united was immediately a parent. the same year that the supreme court decided this, u.s. court of appeals decided speech now or versus fec striking down federal limitations on contributions by individuals to political committees that only made independent expenditures. taken together these two decisions resulted in the rise of the so-called super political action committees or super pacs. because of these decisions, they could make unlimited dedicated only independent expenditures hose donor disclosure rules are much more opaque. it is now ten years later and mega donors pouring unlimited amount of money into our elections. perhaps more than ever am

support, strong support for house and senate, also the defense department, state department, treasury department, us id, so we could do our jobs out there and be confident that we had the support of washington. the third thing i told them was less just focus on what we are trying to do. i talked about the mission, we got support, focus on that and not let politics or any other of the swirl of other issues, political issues, domestic get in the way. keep our focus and that helped so we all moved forward. that's is certainly what i was interested in doing and were able to do that so we began. and as i went through the summer, last summer it is now , it became clear to me that there were two channels of policymaking and policy execution. i'll call the first channel the regular channel and this is the institutional channel and i will talk a little bit about institutions and the importance of institutions but the regular channel of policy making and policy implementation for ukraine was the embassy. the ukraine desk at the state department, deputy assistant secretary of state and the secretary of state .

using that channel. admitting last week with the treasury, with the deputy secretary, to talk through how we are doing on the next transaction. we will continue working very closely together. you will see more transactions coming. >> members of congress meetings, and the former officials the iranian officials, and foreign ministers, that iran would not negotiate with u.s. on sanctions and today you're imposing new sanctions. >> the secretary has spoken about this. i believe the president has spoken about it on the first question i have nothing to add beyond what they have said. [inaudible conversations]. >> what was the second question. >> negotiations. >> will that's the choice that the iranians have to make. the regime has been been rejecting this offramp that this administration is offered for the past two plus years. it's not just the united states and reject, the rejected diplomatic effort, present and prime minister, and the number of countries have worked to try to get a run to choose a better path. to work with the united states and resolve our differences diplomatically. the regime seems to be c

extortionists went to hamilton and said in less you pay me more i will see you got the treasury department and use that to pay the extortion, and of course he didn't get the money from the treasury department, any issued a pamphlet which was embarrassing to him and his family in which he admitted the affair, but said he paid the money personally. he paid the money from his wife's fund which was ironic. all of the founders had one thing in -- framers had one thing in common, they married rich women. backt through a question at my distinguished opponent. public official or elected official says to himself, i want to take an action, i want to vote in a certain way, i think it will help the national interest, but i think will also help my election. crime or impeachable offense? because of course it is not. that is exactly what i said. you have totally distorted what i said. >> i quoted you. he left out the words before and the words after. you quoted me as saying this is what i don't believe, a president can do anything and you quoted me as saying a president can do anything. you did exactly what cnn

you may remember, scholar history, if using the play, was seduced by a woman when he was secretary of the treasury. on the woman's then came and demanded extortionate payments when she paid. those were not impeachable offenses although adultery was a felony at the time. but then extortionists went over to hamilton and send in less you pay me more money, i will see that the money from the treasury department. and use that money to pay the extortion pretty and of course he did not get the money from the treasure deep department in the history of that which was very embarrassing to him and his family, in which he admitted the affair in the extortion but paid the money personally. and he paid the money from his wife's funds which made it ironic of course. and all the framers, they all married very rich women and he was one of them in his wife did not know she was paying extortion money. but the point is that clinton prevented a low crime. on asking this question very directly. if a public official, and elected official says to himself, i want to take an action. i want to vote in a certain way. i think

hamilton and said, unless you gave me more money, i will say you got the money from the treasury department and use that money to pay the extortion. of course he didn't get the money from the treasury department, and he issued a pamphlet which was embarrassing to him and his family in which he admitted the affair, but said he paid the money personally. actually he paid the money from his wife's fund which was ironic. all of the founders had one -- framers had one thing in common, they married rich women. he was one of them. know she was't paying extortion money. clinton committed a low crime. i want to throw question back at my distinguished opponent. i want to ask you this directly. official, an elected official says to himself, i want to take an action, i want to vote in a certain way, i think it will help the national interest but i think it will also help my election, is that a crime or an impeachable offense? it is a rhetorical question because of course it is not. that is exactly what i said. and you have totally distorted what i said. let me read you -- >> i quoted you. >> you didn't. >> i d

dollars from asia and europe and the norwegian sovereign fund, maybe that comes in and buys treasuries and sends us below 1% on the ten year. >> it wouldn't be for the bond market, brian, because it's going through its own adjustment if stocks were to go into a free fall, the federal reserve would see that as affecting the macro economy andthat's something that would bring it in before the data would show. so the idea that oxford, i had in my report would say tighter financial conditions would bring in the fed because the data is going to be messed up. it's going to lag by the way it may be until next month that we see the first inklings of what if impact is is >> and jay, we'll give you the last word. something warren buffett alluded to this morning. he said he and charlie munger talk about why would anybody take from the federal government at a 1.3% yield when they're saying they're going to have 2% inflation. it suggests they don't believe that inflation is going to happen or again, that they've just, they don't care, right so it must be that they don't believe we can get there >> this is a big

us government bonds. >>last week the 30 ye treasury yield hit an all-time lowfalling bond yields signals that vestors are worried that the economic growth could be heading for a slowdown. thvirus outbreak has now fected morethan 82,000 people globally and of course continues to spread ken am back to you grant thank you the ronavirus outbreak continues to take a toll on business operations in many different ways there is particular ncern about the risks. >>asociated with large gatherings of people a lot of people are nervous. the latest example is the cancellation of facebook's popular f 8 developer conference in san jo kron four's rob fladeboe reports. >>facebook's anal f 8 software developer conference was scheduled to beheld on mchenry conventioncenter in downtown san jose. the news caught community leaders surprise no didn't see it coming we've been planning for facebook to return o downtown san jose they've >>holding the convention here now for a a cole years, it's been extraordinary just transforthe whole convention center. it's going of the seas. loss not a half >>in a statement facebook said quote

to hamilton and said unless you pay me more money i will say you got the money from the treasury department and used that money to pay the extortion. and of course he didn't get the money from the treasury pamphlett, he issued a which was embarrassing to him and his family in which he admitted the affair, but said he paid the money personally. he paid the money from his wife's fund which was ironic. all the framers had one thing in common, they married rich women. he was one of them and his wife didn't know she was paying extortion money. the point is clinton committed a low crime. i want to throw a question back in my distinct opponent. i want to ask this directly. if a public official or elected official says to himself i want to take an action, i want to vote a certain way, i think it will help the national interests , but i think it will also help my election. is that a crime or impeachable offense? it's a rhetorical question because of course it's not. that's exactly what i said. and mr. shrum you've totally distorted what i said. let me read you what i said. mr. shrum: i think i quoted you. mr

hamilton, and said, unless you pay me more money, i will say you got the money from the treasury department. and use that money to pay the extortion. and of course, he didn't get the money from the treasury department. and he issued a pamphlet which was very embarrassing for him and his family, in which he admitted the affair, admitted the extortion but said he paid the money personally, actually he paid the money from his wife's funds which made it ironic of course, and the framers all had one thing in common, they married very rich women and his wife didn't know she was paying the extortion money. but i want to throw a question back at my distinguished opponent. i want to ask you this question directly. if a public official, an elected official, says to himself, you know, i want to take an action, i want to vote in a certain way, i think it will help the national interest, but i think it will also help my election, is that a crime or impeachable offense? it's a rhetorical question. because of course it's not. that's exactly what i said. and mr. shrum you have totally distorted what i said. let me

treasury saw a lot of money piled into treasuries, interest rates fell to a low in the 10-year treasury so that gives usre. >> dana: what about china in all of this? they are still shut down and they are not being very transparent. nobody knows really what's going on. >> you can't figure out what's going on because you seed tapes on twitter but you find out that they aren't real. the stock market is like a living organism. it responds to the unknown and i think will happen is it'll be back to normal. the ultimate reality, you've got to restrict and ban travel. you've got to spend more money for testing, which is what we are doing. the thing that you have to do is you have to wait for spring. i know that sounds stupid, but the thing that's going to end is the warmer weather. the only science he can get out of this if you don't have a vaccine. >> dana: a lot of things you can't control and the president said it look like a great trip, said we have it under control, there are a lot of things not in his control, jesse. >> jesse: going to get whacked for this if this keeps up and things go south, the democra

any insight you have on behalf of treasury would be helpful to us as well. >> i would appreciate this as a bipartisan issue. obviously spending is an approved on a bipartisan basis. and it is important that we get to a process where we increase the debt ceiling at the same time. >> let me ask two quick questions on the opportunity zones. you have three tranches of regulations that have come out on opportunity zones. thank you for that. we have many folks that are implementing those things. there was a bit of an unknown at one point that i've asked you about before. a business cannot have more than 5% of their income on things like alcohol sales and other things that are listed in the code, particularly that can have up to 5% of their income and still be recipient in the opportunity zones. there's not a definition dealing with businesses that -- or cannabis businesses. are they within that 5% amount or are they not at all because there's a federal prohibition on cannabis sales? >> i'm going to have to get back to you on the specifics. >> that would be helpful to get clarity because the

using that channel. i had a meeting last week at treasury with deputy secretary to talk about how we are doing on the next transactions, so we will continue working closely together. you will see more transactions coming. >> thank you. how do you view the meetings that members of congress and former u.s. officials hold with iranian officials like the foreign minister? second, the foreign minister has said iran will not negotiate until u.s. lifts sanctions. today, you are imposing new sanctions. mr. hook: the secretary has spoken about this. i believe the president has also spoken about it. on the first question, i have nothing to add beyond what they said. view it helpful for the u.s. strategy or the strategy of this? mr. hook: the secretary talked about it yesterday. i don't have anything to add. what is the second question? >> that iran would not negotiate. mr. hook: that is a choice iranians can make. that is the choice they have been making since the beginning of this administration. the regime has been rejecting the diplomat off ramps that this regime has offered for the last two plus years. it is no

explain that to us why are people so much more enamored >> treasuries are the factor here bond yieldsat record lows and why they have continued to generate the returns >> so there has been a divergence developing where investment grade debt has been performing so much better than junk rated debt. double b being junk, triple b being more investment grade. is this enough to signal a bad time ahead given investment grade. >> clearly the risks are growing ahead this week attractive releva relative to the double b compared to the price of triple bs investment grade corporate bonds might start to act like high-yield bonds going forward now you you are going to deal with the spread. >> thank you for joining us with your thoughts on the high yield in investment grade markets. when we come back, we'll check out the action since the dow began selling last thursday. total point losses 3,979 points in total watch or listen to us live or on a b a on the cnbcpp wereack after this >>> when you consider the skacae of the epidemic at this point, it is hard to believe we are not going to start running

treasuries have shown us is that they remain the key safe asset in the world. ople don't want to be buying 10 year treasuries at 2%. when you need them, they are there to protect you. we are definitely very much of the view of diversifying your portfolio. but, tactically, we like to use a currency overlay. we have been short the australian dollar along the japanese yen that is a nice overlay to put across your portfolio to hedge against some further negative news coming out of china. paul: have got the dollar spot index up about 2% from the start of the year. is this the time for emerging markets to shine? evan: i think it will be the time for emerging markets to shine once the dust settles a little bit. i think everyone is in the process of lowering their growth forecast for the rest of the world. growthu look at difference between the u.s. and the rest of the world, that will be moving in the dollar's favor. like this virus is kind of running its course, which i think will take a few weeks, i think confidence will return and you will start to see andle begin t