the high-yield spreads more probably have not widened out.esla is very much facing the pressures greg and jim have already mentioned, that the company faces. but high-yield still has a way to go. if the short end keeps going up, it means the corporate costs of borrowing are rising. so many folks are jumping into the short end to pick up that additional yield. with high-yield credits, or leveraged loans, you want a longer runway if they have to grow into their capital structure. tesla is a good example of potentially not having enough runway to grow into their capital structure. jonathan: this means the opportunity you might see in high-yield the moment. triple see through the year is where the outperformance was. can thatontinue -- continue? can. the yield curve move and the direction component is associated with the double b's, spread supertight. there is an uncertainty of the volatility of growth on a go forward basis. but growth is still healthy and corporate earnings are pretty strong. the structure of volatility could be increased with w

cathy widener, san francisco airport. the why the before you seeks a new lease between airport and bank of america for 12 atm machines with a two year option to extend. am i responding to the -- >> supervisor fewer: it is the -- >> i thought i was doing it out of order. it has a minimum annual guaranteed rent of $211,000 or 70% of gross revenues, whichever is greater. the mag is adjusted annually by the cpi. under the five year term, the airport expects to collect the minimum annual guarantee rent, and the atm lease is the result of a competitive request for proposal process. the airport set the mag at $150,000 to encourage multiple bids, but at the end of the day, even though there were a number of people who attended the preproposal conference, only bank of america bid on the proposal with a $211,000 mag. the budget analyst has reviewed the lease and recommends approval, and i would be happy to answer any questions that you might have. >> supervisor fewer: thank you very much. colleagues, any questions? seeing none, let

that the investigation into russian interference in the presidential election may have widened to include the influence of the united arab emirates the new york times says investigators have been questioning george nader an american lebanese businessman who's an advisor to the crown prince of the u.a.e. and as the book is live for us in washington d.c. it tell us a little bit more about george need or himself and what this means for the wider mueller probe well barbara george nader is really no stranger to washington he's been sort of a shadowy fringe player here over the last three decades he was a back channel negotiator with syria during the clinton administration and more recently he's become an advisor to the u.a.e. he's also been a frequent visitor to the white house since president trump took office and this is at a time when the president has been praising the u.a.e. for its fight against terrorism and has been siding with it and saudi arabia in that blockade against qatar now what does this mean as far as the more investigation is concerned will it sounds like the special council

in terms of the spreads widening. we are not seeing these other market show off risk off attitude. that is strange because an ill iquid assets, that should enter this risk off asis and now that we are seeing credits brands widen, you do not have this part of the market that is holding up sentiment. response now the spreads are starting to widen as well. it is clear other investors are taking note and we see this throughout history. versus starts with high-grade spreads, high-grade underperforms high-yield, followed by high-yield is stopped. we might be starting to enter that sort of phase in the cycle. absolutely not. i think there are some bigger stores around here. i think we have to realize is the reason why we like these things it is because operate as monopolies. they are relatively rate as the like -- in terms of the ability to continue on top of thatand asan economist, the growth come down. surveys, 5%sumer of 1%, that will have to widen out this spread. it is a consideration where the 80% of the new issues of

peril amid widening disagreement. single -- signals more job cuts. ♪ let's get you some breaking news coming across the bloomberg now. we have numbers, what is coming through is the for your dividends are shared coming in at 2.5 swiss francs. also announcing 150 million euros share buyback. this is a recruitment company, a deco. -- adecco. let me give you these numbers here. we have fourth-quarter adjusted, rising 21%.

imagine a white house with this net that is widening, as john said, and constricting at the same time. all these other things going wrong, putting pressure on the president and not having jared and ivanka there. i can't imagine it. the other thing is from their perspective as paul just mentioned, they are now being caught up in this investigation more so than we knew before, but

also tonight: investigators widen their search in the spy poisoning case, as international chemical weapons experts arrive in the uk. the minicab service, uber, suspends all tests of self—driving

it is causing credit spreads to widen. persists at these levels, i think that is something to really worry about. jonathan: jim, i don't think we should waste too much time talking about if it is a flashing sign regarding credit stresses. when i speak to all of you, you always say no, it is not. but it could have real consequences. are you seeing it start to bite at all? jim: not at all. it is the persistence of it and it is an expense. it is not an expense directly related to the household, but when you think about how many people fund their positions, there is an expense on it. you are seeing people shrink their books because the cost of leverage and the cost of borrowing is more expensive now. you are seeing some of that play in. i think that is some of the reason you see the front end of the investment-grade market start to weaken out. it has an impact when you think about some of the foreign buyers of u.s. credit or assets on the front end. and so you have seen some selling on that side. so it is definitely having an

also tonight here, special counsel robert mueller, mueller's pack of partisan investigators wideningheir inquiries beyond all reason. they are exploring now the trump campaign's connections to the united arab emirates and possible business dealing. the special counsel has gone 10 months without producing any evidence of collusion while the house and senate untell jones and judiciary committees have done no better. the same is true of the house oversight committee. they all produced exactly nothing. absolutely no evidence of any kind of collusion. yet speaker ryan panama joart leader mcconnell lacked the integrity to insist the mueller witch hunt be concluded. instead they allow mueller to continue wasting taxpayer resources and dollars to aid the dems and the left in their efforts to obstruct and subvert the rsh and his administration. for president trump's part he's pressing ahead with punitive tariffs on steel and aluminum despite all the praying of the democrats and the republican establishment and of course the national left-wing media last week. and our president is forced to ta

shery: we are now seeing the 210 spread widening.we see an accelerated price of -- accelerated rate of hikes, could we see the curve start to inverse order -- invert or get close to inversion? a lot of people say because of qe that may not even be a predictable tool anymore. guest: that is our view. i would not ignore it if it turned negative in held there, but sure. we still have qe being added this year. there was a lot of global liquidity in the world, and we are still dealing with a global economic synchronized recovery, which should limit the downside to any potential u.s. recession, likely two years off for more. vonnie: we will have you back before then. that is for sure. thanks to joe higgins, of the tiaa fund. shery: steve when plans to sell steve wynn plans to sell his entire state in his resort chain. that the tampa bay makes wy -- that potentially makes wynn resorts vulnerable to take over. board will seek approval on an unprecedented 10 figure award of stock options. , musk plan is accepted could eventually bend up with

bank of america was asked about the widening light board -- libor spread. we know the answer is technical. when does it start to fundamentally matter in the economy? >> this is classically a gauge of risk in the banking sector. to 2008ake this back and 2009 to say this is a canary in the coal mine. but there are reasons to believe this is not the case. this has to do with changes in code which leads to a repatriation of foreign earnings. back to my story about the dollar parking up, that can be part of my story as well. this is competing with commercial paper and cash like p that explains this lightening up libor. >> what are investors expecting when it comes to libor? >> libor is having investors lek about who is going to be ss under water when the tide comes out. the buffet line. we are talking about because of lending getting more expensive for people. saying,eeing people there are people out there who are over leverage and how much can they take in terms of their fed rate or cost of living in terms of the libor rate. we've seen the libor rate have its e

and widening and widening.y think it looks like from the outside that they're checking the tail end boxes, not to say it will end this month or anything. they'll have trials and so forth, but that i think the investigative part of their activity is probably on the backside not just widening forever. >> you think the mueller investigation is on the backside? >> yes. >> look, i think none of us have any way of knowing what -- if anybody has been cryptic about what's going on on this investigation, it's mueller. and i think he's completely -- his investigation is completely unaffected by what this house intel committee report is and what they do. he is focussed on what he is doing and we see that he has gotten, what, indictments over 13, 15 indictments and guilty pleas already. >> i want to ask you and move on to this -- >> yeah, but none of them have to do with russian -- none of them have to do with russian collusion. they have to do with -- look at paul manafort. i don't even think that's within mueller's juris

they don't want to get markets ahead of themselves in the wake of the italian elections which should widen those spreads a little bit. i think walking them back, he sayingn the master of whatever it takes. they are running out of bonds to buy and the situation is getting better. we are going to see that tapering and that is going to be critical. there are rate hikes but also the fed is lifting its ceiling. we are going to see the fed balance sheet fall. the ecb is only going to be slowing the pace of purchases. the fed is going to be reducing the size of its balance sheet which could be one of the things they struggle with. >> you mentioned it yourself, we happen to have the fed president from your district coming up. what is the one question you would ask? >> charlie is great. charlie has pushed hard on the symmetry of that inflation target and how much he believes he and his colleagues are willing to stick to that going forward. not being as aggressive with rate hikes. much will depend on the composition of those voting, which he is not this year. very pointedly what does it mean how und

yes media is reporting the investigation into russian interference in the twenty six election has widened to include the influence of the united arab emirates you know times of the f.b.i. has been questioning george natan american lebanese businessman is that vies it's the crown prince of the u.a.e. social council of muslim which no focus was on context from donald trump's come pain and russia time after protests more on the story so it appears that robert muller's investigation is not just now focused on russia and whether or not it influenced the campaign in the election of two thousand and sixteen and potentially the white house but whether other countries might be trying to buy access to the trumpet ministration as well and that brings us to this lebanese american businessman george nader and gerard cushion or nader is this advisor to the u.a.e. he's been a frequent visitor to the white house and has in fact met with jared cushion or which is raising some eyebrows this past week it's cushion or was stripped of his top secret security clearance as an investigation into his background c

theres have widened the cordon?a popular green space, surrounded by water, and its popular on sundays, people come here shopping. now the people of salisbury have had to put up with this major investigation and tonight, the news that a nerve agents, a chemical designed to target the nervous system has been used among them. as we all now know, it has sparked a huge investigation. sergei skripal was a man with a shadowy past. relatives said he feared it would catch up with him but he was using his own name, living a normal life, popping into a corner shop last month for milk and bacon. tonight, he and his daughter are gravely ill and now, the police have revealed why. in summary, this is being treated as a major incident involved attempting murder by the administration of the a nerve agent. as you know, these two people remain critically ill in hospital. sadly, in addition, a police officer who was one of the first to attend the scene and respond to the incident is now also in a serious condition in hospital. counter—

he may have been frustrated that the investigation is widening. last week mueller subpoenaed the trump organization for documents related to russia. they released a statement last night in response to speculation on both sides of the aisle that robert mueller may be next up on the chopping block after deputy director of the fbi andrew mccabe was fired. the president fueled that theory, too, thanks to a weekend full of tweets aimed at the investigation into his campaigns ties to russia including this one that read in part, why does the mueller team have 13 hardened democrats, some big crooked hillary supporters, and zero republicans. does anyone think this is fair. his personal lawyer john dowd said it's time for the inquiry oechld his presidency. >> if the president reaches out and stops this investigation, that is a constitutional crisis in this country. >> so far four trump campaign aides have been charged with financial crimes or lying the fbi. three of them have pleaded guilty and agreed to assist mueller in his investigation. president trump

theef: let's widen out conversation.some of the insights from matthew, where are you at with the saudi arabia 16 come play? charles: we still believe with emerging-market bonds, we believe there will be impacts. they look very interesting. you're saying the spread is not justified? it's be tighter, shouldn't it? the premiumy: yes is unjustified. there is still value in this bond. obviously it is much more challenging. yousef: how important saudi arabia raising this number? there will always be critical for investors to see that there is enough asset to trade. charles-henry: that is one of the drawbacks, lack of supply. we are seeing more supply and it looks a bit contrary. usually the market does well when your supply is going up. yousef: i want to switch across to equities. a bit of a difference by playing out there. we saw a lot of deep selling around the lenders, this is on the islamic tax. it is very much on investors mind. you are saying this is overstated. the banks have made the provisions. this has been going on

so miller is apparently widening this probe beyond russian influence into the american election he's looking now into influence by the u.a.e. and other nations and natter has met specifically with jared krishna that is particularly interesting because it has been reported that other nations have been caught talking about how they feel that cushion or is vulnerable to influence because of his business ties and specifically israel the u.a.e. mexico and china are reported to have been overheard commenting about this so that puts the trumpet ministration in a bit of a bind expanding the probe puts cushion or in a potentially bad position and also steve bannon who has also met with nader i mean dave jericho they're already being looked at quite considerably and there's lots of questions about his security clearance now with regards to his closeness to the president if this indeed is true what could this mean to his position. or that's right sue cushion or had a bad week he lost his top secret security clearance last week that means it's hard for him to carry out his portfolio which includ

the usa is confronting a rapidly widening trade deficit.ually say it's kind of understandable that the administration in washington is try to do something fast. internal restructuring takes time. but in my view, it is somewhat understandable that they are taking rapid action, just another signal. i think this potentially has deep and wide repercussions. haslinda: qc retaliation from the likes of china? china in particular? is the i would say chinese government has proven itself to be an extremely savvy, astute operator. for whatever they do, i expected wide,very astute, very and very clever. that is the world we live in these days. these sorts of things tend to grab the headlines. there's more fundamental and the story things happening, like the continuing rise of hundreds of people in china, india, southeast asia into what we call the global middle class. regional and international tourism is moving. international tourism is growing at twice the rate of the global economy. technology, so those are much bigger and more with no lesser old-li

high-yield spreads more broadly have not really widened out.la is very much facing the pressures, as greg and jim have already mentioned. high-yield still has a way to go. if the short end keeps going up, it does mean that the corporate costs of borrowing are rising. what is interesting about so many folks who were jumping into the short end to pick up that additional yield, is that with high-yield credit or levered loans, you want to longer runway if they have to grow into their capital structure. tesla is a good example of not potentially having enough runway to grow into their capital structure. jonathan: jim, talk to me about that. the opportunities that you might see in high-yield at the moment. that is where the outperformance was. can that continue? jim: it can continue, but it is not sustainable. it is because of the yield curve move, double to use when spreads are supertight if you just take a step back, growth is certainly on a go forward basis. growth is still pretty healthy. corporate earnings are strong. there is a regime shift in

particularly high-yield doesn't look anywhere near as attractive , which is why credit spreads are widening. that, in turn may be why gold is rallying. i sort of metadata. but that is the thinking, possibly. ask marcus forwe his forecast for a sporting event. i'm going to give him one more chance. england is playing the netherlands with a friendly and football. who is going to win? marcus: no idea. we are going to send a deliberately weak rugby team down in the summer to give them some chair. mark: -- some cheer. mark: marcus ashworth, gadfly columnist. julie: let's check in on the bloomberg first word news. i'm so glad you didn't ask me for that. mark crumpton, give us the headlines. : france's interior industry is describing the suspect in phase hostagetaking is a 23-year-old petty criminal who was considered rational -- radicalized and under police surveillance. he killed three people and wounded number of others and demanded the release of the last surviving assailant in the paris terror attack. the gunman was shot to death when police stormed the supermarket. european council president

obviously if you push out in the calendar you collect more premium and widen out the strikes.ing at a short time horizon here one of the surprises is even though you are spending premium, generally speaking in these generally speaking in these types of well, it's earnings season generally speaking in these types of once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritde. two,that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they d

there's a widening agreement that we shouldn't continue to allow this to wreak havoc on community banks and small credit unions. i hope we can soon turn that consensus into law. >> i rise to discuss s2155. the economic growth regulatory relief and consumer protection act and to urge my colleagues to support its passage. in a few minutes will vote to bring this to the floor. critical vote. i encourage all of my colleagues to support bringing this to the floor for full debate and vote. let me think each of the cosponsors including members of the banking community for the interest and involvements in the discussions, hearings and negotiations we've had to get to this point. originally introduced by ten republicans and democrats this package now has 26 senate cosponsors including 16 members of the banking community. banks and credit unions across the country have struggled to keep up with regulatory compliance and demands coming out of washington. local economies this puts a strain on small businesses looking to open or grow. when the dodd frank legislation was initially proposed i held a n

the gap between rich and for an is widening. 1% of americans make 22% of the income in the u.s.ome tech voices are proposing a controversial new way they say could help level the playing field, offering americans financial relief. >> the most powerful way to combat income inequality is the simplest, with money. >> reporter: facebook co-founder chris hughes believes luck can play a big part in success. he admits he made a lot of money fast, creating facebook with his roommate, mark zuckerberg. >> i made a half a billion dollars with three years' worth of work. my story is actually indicative of a fundamental unfairness at work in the american economy. >> reporter: hughes detailsing his solution in his new book "fair shot." the proposal, guaranteed income. his idea, the government distributes regular payments to some working citizens to give them what he calls a fair chance at quality of life. >> when you give people money to invest in themselves, their families, they're healthier, their kids stay in school longer. i want to see a guaranteed income of $500 a month for every workin

and as part of what i wanted in order to widen the space for muslim women, i began a movement called #mosquemetoo to encourage -- it was actually in support of a young pakistani woman who herself was inspired by me too and she wrote about being sexually assaulted in islam's holiest site in saudi arabia. so you're seeing women from different groups, which is what is absolutely necessary. well talk about sexual assault, rights, is trying to reform and will allow women to drive. what kind of hope do you take from that? do you think it's real and meaningful? >> well, you know that saudi arabia is kind of followed by many people, many muslims around the world and i guess what they do in terms of freedom for women is basically a role model for many muslims around the world, especially in afghanistan, because it's a good judgment, it's a good justification for us, also, to use in our argument with some of these kind of religious clerics when they try to impose their own understanding of religion on us, on women. so i think it's a good step forward. but let me also mention here that afghanis

widening the global digital divide millions of people already don't have reliable access to the internet as a result and locked out of the digital economy jobs market so while this new wave of technology promises a better future it doesn't promise an equal future charlie angela for counting the cost barcelona. now let's take a step back for a second and ask who really benefits from five to one it's closely linked to the survival of the telecoms industry last week got a reported the first year on year decline in smartphone sales for the critical holiday quarter since two thousand and four the industry needs new technology to trigger a new burst of profitability and growth they want consumers like you and me and global businesses to buy equipment and mobile services and here's a word you may also hear a lot about spectrum this is how companies use the airwaves for communications spectrum is actually a a sovereign asset and governments haven't even started auctioning off the spectrum needed for five g. yet we're joining us now from london is daniel gleason a senior analyst in consumer techn

obviously if you push out in the calendar you collect more premium and widen out the strikes.e are looking at a short time horizon here one of the surprises is even though you are spending premium, generally speaking in these types of trades, and you have risk reversal.com so you must talk about this all the time those wing options decay faster as a percentage of their value that the one at the money does even though you are laying out the premium the decay is very low. >> what would make it go down. >> let's talk about what's going on in massachusetts. for the state to sit there and say, okay, we're going to try to take it out on all of the shareholders of this company, all the other stakeholders, when the guy whose name is on the building is actually gone -- like i said before, choose on core it seems like an appropriate enough m & a their hotels are the best on the strip. they do a great job. i actually like the way they manage this company. i don't think that steve being out of the picture is going to -- he was going to have to leave eventually anyway. >> apg also the pric

without a common approach between paris and berlin the division between eastern and western europe could widen even further this is going to be a very difficult issue to tackle but with the pressure from paris and berlin jointly putting pressure on others who are less ready more hesitant i think a compromise that was passed defense is another issue paris wants to advance more pragmatic cooperation at the e.u. level france is willing to give up some sovereignty it wants a solid partnership of germany as britain prepares to leave the. car will have to wait for germany to come through on this too for the period of time in which there was no government in place that oversee did not make stronger but rather weaker. germany can still make up for lost time the government coalition agreement mentions the e.u. more than one hundred times now europeans are anxious to see those words translated to action ok so barbara looking at that just very quickly what do you think the biggest priority is going to be moving forward for brussels. the biggest priority of course is to deliver some reforms for france to

but there's a widening agreement that we should not continue allowing this unintended consequence to wreak havoc on community banks and small u cret unions. i hope soon we can turn that consensus into law. >> try to i rise today to discuss as 2155, the economic growth regulatory relief and consumer protection act and to urge my colleagues to support its passage. in just age few miserable vote n the first vote to vote on cloture to bring this bill to the floor, cloture on the motion to proceed. a very critical vote and again i encourage all of my colleagues to support bringing this bill forward to the floor for full debate and vote. first, let me thank each of the cosponsors of this bill including the many members of the banking committee for the interest and involvement in the many discussions, hearings and personal negotiations and conversations we've had to get to this point. originally introduced by ten republicans and ten democrats, this package of common sense reforms now has 26 senate cosponsors, including 16 members of the banking committee. community banks and credit unions a

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investigation into russian interference in the election of donald trump has reportedly been widened to include the united arab emirates the new york times says an advisor to the u.a.e. crown prince is being questioned special counsel robert miller wants to know whether george notter who's a regular visitor to the white house attempted to buy political influence the u.s. president contradicted years of policy when he initially backed the u.s. and saudi led blockade against katter saudi arabia's crown prince is juicer landing kyra for a three day visit to meet the egyptian president up to foster l.c.c. is mohamed bin salmond's first official foreign trip since becoming crown prince last year and then fly on to meet leaders in the u.s. and the u.k. saudi arabia and egypt are among the countries that have imposed a blockade on cata since last june fighters linked to al qaeda say they were responsible for the attacks and became a fast so on friday sixteen people were killed including eight gunman at the french embassy and army headquarters in the capital ouagadougou right you're up to date

the premium has widened substantially. the indian arm of the global giant unilever.e premium was 80% a year back, now 160%. why has this happened? because the rise in u.s. bond yields has triggered a correction in the global economy, while indian companies still hold valuations because they are betting big on demand pickup. haslinda: you touched on correction. credit suisse suggesting a correction might be possible. what are the reasons for that field -- view? >> a correction can happen if the companies fail to deliver on these promises. it is critical that india's hinterland, villages buy more creams tosoap, dental justify these valuations. a lot of expectations are built up around rural demand picking up. if the companies are unable to deliver this performance, these volumes, then you could see a correction. otherwise, these valuations are rising. a lot of pickup in demand. david: to your point there, the chart, we will get that up. child, notlay on the the parent, doing a ratio on the premium, the p/e premium or discount, whichever way you look at it. that is the

but in a letter to senator ron widen any say yes a organization we accept foreign donations.t the nra insists none of the foreign money was used in american elections. of course we know that the nra did spend big in 2016. spent more than $30 million on efforts to boost donald trump and just to give you a sense how that spending compares to past cycles. according to the center for responsive politics this is more than 2008 and 2012 combined we you look across presidential house and senate races. it's clear that they were in big and in early for donald trump. but what they're saying is, look, none of that money we spent none of it came from foreign donors. >> is anyone talking about trying to regulate where they can accept money from? >> well there are already regulations about how the nra cuss otto foreign donations. they're allowed to use them essentially to inform members, educate members. but they're not allowed to use them for instance on ads that say vote for donald trump ob don't vote for hillary clinton. now we have ron widen a democrat from oregon saying i want more in

the investigation into russian interference and the election of donald trump has reportedly been widened to include the united arab emirates the new york times as an advisor to the crown prince has been questioned special counsel robert muller wants to know whether george another was a regular visitor to the white house attempted to buy political influence the us president contradicted years of policy when he initially backed the u.a.e. and saudi led blockade against. saudi arabia's crown prince is due to land in cairo later for a three day visit to meeting gyptian president of the. it's mohamed the first official foreign trip since becoming crown prince last year. to meet with leaders in the u.s. and the u.k. . at least three people have been injured during a car ramming incident in the northern israeli city of arca israeli police are describing it as a terror attack they say an israeli palestinian attempted to run over a border policeman and uniformed officers. those are the headlines on al-jazeera do stay with us the listening post is coming up next thank you very much for watching. o