tv Bloomberg Markets Trump First 100 Days Bloomberg April 24, 2017 1:00pm-2:01pm EDT
100 days and office. congress has until friday to ps a health -- a bill to prevent a government shutdown that would coincide with president trump 100th day in office. he has a dealbreaker that means money -- for a wall among the u.s. mexico border. mick mulvaney tums -- tells bloomberg, the white house will offer a dollar per dollar trade for democrats in return obamacare subsidies. democrats called the offer, a non-starter. a relief rally around the world today on the french election results. u.s. stocks having the best day since march 1 with the nasdaq hitting all-time highs. attention will shift to the looming government shutdown, might not be terrible for markets. ♪
congress returns from a two-week recess. kevin cirilli, our chief washington correspondent, joins us from capitol hill. kevin, let be get a sense from you as you talk to lawmakers on the hill, what the biggest issue is for them at this point. are they looking ahead to the prospects for government shutdown or are they talking about tax and health care reform? kevin: i just spoke with a senior in on the house freedom caucus who told me top leadership will be having a board meeting tomorrow night, here in the capital, to discuss the week. in terms of what they will talk about, health care, tax reform, and of course keeping the government open. they have to past -- republicans in congress -- some kind of partial government funding bill by april 28 to avert the shutdown. whichare technicalities
they will be able to get around if they don't agree on a long-term solution. they could potentially pass a week-long solution which would kick the can forward. on wednesday, there will also be a full meeting of house freedom caucus members. that coincides with a story popping on bloomberg. treasury secretary steven mnuchin will be conducting a meeting of his own with republican leadership in the house and senate within the next 24 hours. they will begin laying the groundwork for a tax plan trade the details still have many aids in washington waiting for more. david: we have any better sense of what to expect? will it be a discrete proposal from the white house for victims to what is been proposed in the house? kevin: we don't have any details.
i want to pull of a tweet from president trump, " there is going to be a big tax -- tax package, in relief on wednesday." that sense some folks scrambling within his own administration and on capitol hill. this was on friday and this administration put some -- fourth some deregulatory executive orders that they were hoping would kickstart dodd-frank reform. this was not something many people were expecting. let's listen to what the budget director, mick mulvaney, told us on friday. bill cannot be as good as it otherwise would be. by that, i mean it cannot be as dramatic, as powerful. if you have not dealt with health care first. also you have to take into consideration political momentum. we think we get a better tax asl, one the president wants opposed to one he has to settle for, if we get health care first. trump twittingt
he wants tax reform by wednesday, budget director saying they want health care, then tax reform. david: kevin cirilli joining us from capitol hill. scheduled to meet with lawmakers to discs xes soon. swdown is loomingwe president trump in congress. hanging in the bounce the potential government shutdown. trump applied pressure for lock makers to make -- to make money to invest in the ball on the u.s.-mexico voter. it's a democratic dealbreaker -- dealbreaker. what wet me ask you, have heard from the white house about the prospects for a shutdown. kevin, they are laying this out of the agenda. what is the white house saying? the doubling down on theeric: request for $1.5 billion on boardwalk funding. it's a trade-off between the obamacare subsidies and those border wall funds.
however, democrats feel as if they have the advantage. trump during the campaign said mexico would pay for the border well. democrats came out with a report last week showing that the cost of the wall over its lifetime could account -- cost $70 billion. they show the wall is not popular including among republicans representing border wall areas. house may be somewhat isolated in this request. so far we have not seen house speaker paul ryan or senator -- senate majority leader mitch mcconnell back this. david: this is something julie pace, chief white house correspondent, discussed in a long interview last week on friday. what does he have to say about whether or not he would accept a funding agreement that did not include funding for wall? the key question is, whether president trump will veto a bill that will not have boardwalk funding. that's what it comes down to. the question is, who will field the blame bring a president
trump and? areblicans in congress perceived to control the government. if it shuts down he would have to be prepared to shoulder the blame. -- trump is the wildcard. he is new at this. members of both parties say that is a real part of -- possibility, that he could feed oh a bill and live with the consequences. he has done a lot of surprising thing in its first 100 days. you about oneask quotation from chuck schumer, senate minority leader. he is saying the conversation between democrats and republicans is going fine and by ddling in this -- do get a sense that republicans would rather have the white house saying -- stay less involved? eric: that's the message from republican appropriators and members on this desk spending panel. tom cole, head of the subcommittee for the department
of labor and health and human services funding -- on msnbc today he was saying, advising the president, look for this wall funding later in the year. let's have a full debate in congress over the funding and come back later. just get the government-funded now. one of the things on the table is a compromise for the pentagon . we could see less than the $30 billion trump has stopped. it's still a substantial increase in military funding. that would be a win for republicans, and members are advising trump, let's just go for this border while later. david: give her much, eric. no doubt we will talk soon again. let's get a check, the markets stands. julie hyman is here. what's the latest? julie: we are definitely seeing a market reaction after round one of the french elections. a relief rally. not just here in the united
states, but we sought in europe as well. on this perception by investors, the polls, that emmanuel macron will be victorious in round two. we're seeing all three major averages about 1%. this the first time this is happened since march 1, when all three major averages are at liquor -- records. the nasdaq is the only of the three that is at a record in today's session. of thearound the highs day, maintaining the gains on the day, even as one of the supports seemingly for the rally we were saying earlier has gone away. take a look at the bloombe here. i shall explain. the 10 year yield which was going higher by four basis points today supporting the financials is still higher but has pared back in. that's the white line here, 10 year yield going down. we still have the s&p 500 in orange, maintaining its gains. financials as well. interesting that higher yields
which tend to support financials , financials are still gaining. as for other groups gaining, mostly risk-on cyclical led rallies. technology stocks, not surprising given that record at the nasdaq. appleet, microsoft, and all rising today. microsoft and alphabet in particular are at record highs. assets, youat other see this risk on percolating through. we have crude which is slower, bucking the trend. we have gold glover seen as a hidden by investors. dollar also lower not helping commodities. the fix is really low, taking it tumble. we had seen some people buying hedges going into round one of the french election. now they are bailing and a big way david:. david:thank you very much, julie. as we had to break, life pictures from former u.s. president barack obama, speaking
david: this is bloomberg markets, donald trump's first 100 days in office, with a focus on politics and policy under the new administration. i am david gura. let's check in on the bloomberg first word news this afternoon. mark crumpton has more. mark: president trump the united nations has quote, tremendous potential which it hasn't let up -- lived up to. he spoke with ambassadors and
members of the un security council today. >> towards syria, the council failed again, this month to respond to series youth of chemical what -- use of chemical weapons. i was very disappointed like that -- by that. mark: president said he has quote,r the world body an underperformer. the time is now to deal with north korea's weapons program. in france, marine le pen's far right national front is attacking president gerald from runner, emmanuel macron, as a candidate of oligarchs and banking lobbies. pretty shine to trade le pen is more in touch with the french people. they received the most votes in the first rounds of presidential elections. micron is a heavy favorite. u.s. defense secretary jim mattis has made an unannounced trip to afghanistan. he will get a firsthand look at america's longest war. when mattis was a marine corps general heelys saw the war in
afghanistan. the trip comes three days after a television attack on afghanistan army base which killed at least 100 people. weeks of political unrest in claimed another victim as protests there continue. opponents of the president are flooding highways across the nation today. the interior ministry says, a woman died sunday after being struck in the head with a frozen water bottle. she was done from it -- it was thrown from a high-rise trade at least 21 people have not been killed since the unrest began almost a month ago. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 100 20 countries. i mark crumpton, this is bloomberg. david? david: thank you. we facing a u.s. government shutdown. -- we've just joining we have multiple guests
joining us. great to have both of you with us. we had this conversation yesterday, french election results came in. how difficult it is to look at markets, focus on technicals and fundamentals when there's so much political risk. how much all of this is complicating investing at this point in time. >> is complicating it a lot. we have seen a significant slight to quality. way downm 60 all the to below 220. it's not just the political risk traders also geopolitical tensions that are in the markets right now. and you have u.s. data. david: matt mead just ask you about the degree to which markets were falling or worrying about what may or may not happen on friday. >> they are worried. if you look at the selloff today and yields as well as appointees, globally they've
riven -- risen after the election. the u.s. has outperformed the rest of the markets. you markets have outperformed investor markets. i have seen the selloff -- think that the bond markets are about the negotiations this week. equities tend to look at these events with a little more frequency. if you should back to 2013 13, the last time a government shutdown, the market was wild. huge spikes in volatility around the government shutdown. equity markets ignored the event. we had a nice little correction afatewith that shutdown but otherwise there was no psych in the fix, not even equivalent to the one in 2012 42014. it was a non-event. financials have traded with the bond market so we want to watch that sector carefully but today
financials are up along with industrials. nice earning season. we have good distractions and the equity market. david: how difficult is it to make historical parallels like that? so it is ourevent most recent occurrence. it was a shock at that point. the other thing as we have 2013 to go on. equity investors are looking to look through an event. a government shutdown is less meaningful than russian 2013 we came out unscathed. i can present dangers as well. if there's a meaningful economic impact of the government shutdown, that there is a meaningful earnings impact, it last longer, that can have big impact. but for now, we are largely looking for this as a non-event. happened in 2013, and how has that affected the position going into it shut down this week? >> the difference between then and now as we have a debt ceiling issue.
the days leading up to the government shutdown, we sigh rally and bond markets. we saw theshutdown rally. this time we don't have the same scenario, although that could play out again to tender when you start having -- come back into the forefront. that potential for the same sort of situation we are in right now still playing out later on when we have a debt ceiling. david: cancer really talking about the prospect for another short-term spending bill coming out of this. at this point our markets -- are they expecting that to happen? how worrisome is it that we could see another continuing resolution? >> the markets it -- are expecting -- our basic scenario for how this will play out, we don't get a resolution by the end of this week. then by then, we should have a physical bill passed for 2017.
also what markets are looking towards. >> is the new normal is on amount become a result of the fact that we have seen this happen? tickets equities markets the abilities to go long-term. >> i think it does provide them with some degree of comfort. the government tends to come third missions like these and we have before. even if it shutdown is a didn't .13 for two weeks, the equity market led that shutdown that unless the recovery -- led to the recovery as well. us these things out. we are not worried something dramatic will happen. david: are there any sectors more worried about this than others? >> financials has performed poorl over the last 6-8 weeks. a lot of that isoth respect to what is happening at the long end of the treasury curve. financials tied to the s&p 500 is closely tied to the bond market. financials are most likely to be impacted because they are impacted through the bond market.
in general, we have had a tough go but it looks like we might be coming out of that with a rally during last week and this week with earnings. it seems to me, dependent upon what happens -- right now we have a struct b ratio, we have companies and financials and industrials seeing significant risk -- significantly relative to expectations. we are on the right foot for earnings. if that will continue it's a big question. david: thank you both for coming on today. coming up, marine le pen's economic advisor. this is bloomberg. ♪
-- to white house officials and members of congress spoke at a national economic council. steven uchin will speak with lawmakers. more detail on that meeting. click they will meet with paul ryan, mitch mcconnell, congress and hatch will be there -- senator hatch, and congressman brady. in france the day after the first round of presidential elections has many people looking to underscore -- independent emmanuel macron. >> there is not much we have to do to expand beyond our base. a lot of the voters who chose to for -- for patriots. very naturally they will turn to marine le pen. the two contenders, she is the one who carries the french flag. emmanuel macron is known to be a globalization in its
fiercest form. there is not an intention to go after them. maureen will be shook -- who she is. what will make her win this election is that she is not defending interests like macron. she is defending core beliefs. those beliefs are shared by vast majority of the french, and this is what will win her that election. >> we have seen the economy these days -- a candidate. his marine le pen going out -- going to go after -- >> she's not going after anybody. think maybe north korea and france are the two countries where you can run in a presidential election under the commonest label. that's just a joke. just a joke. are verythe voters
weary with the first form of gbalization, which imposes cutting jobs in western europe especially france, to create jobs elsewhere. of the wealth being stripped from the homes of our middle-class and western democracies. the feeling is shared but -- and france by a lot of the working people. if they have a choice between cronan le pen, no doubt they will go with le pen. an economic promise for protection from this savage globalization. >> we've seen a positive reaction a markets today. how come the business community does not understand your message? >> i spent a lot of time in the last six months speaking to
them. i can tell you one thing, they do not like change. they agreed to the fact that the euro doesn't make sense an economic terms. tos a political project force convergence between countries who were divergent. they all know that. isy say that the transition going to take handling with a lot of care. we will handle it with care. they don't and -- they don't like change, i understand that reaction, but everything will go well. in six months when the french decide -- the french are going to decide whether they want to stay in the eu and europe. it will be a referendum. david: this is bloomberg. ♪
of billboard music awards moments simply by using your voice. and thank you so much. the billboard music awards. sunday, may 21st. 8, 7 central. only on abc. i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. david: this is bloomberg markets, donald trump's first 100 days in office, with a focus on politics and policy under the new administration.
i'm david gura. taking a look at the president's 4:30pme of the day, at he's set to meet with secretary mattis. on a surprisewent trip to afghanistan. later the president will participate in a reception with conservative media at the white house. here's is a dinner tonight with john mccain as well as his wife and lindsey graham will be at the meeting as well. and treasuryse department announced -- announcing new sanctions against principles in syria this afternoon tied to the country's chemical weapons program. i'm to bring them bloomberg's national security editor in washington. bill we are getting the headlines out now here about the sanctions. more the 200 people will be sanctioned by the treasury department. i want to know what they're doing. >> i think they're trying to find any way they can it is not country -- we have a lot of leverage on. they did feel they could involved in the
chemical weapons attack. you might are member from a couple weeks ago in which sarin gas was released. i don't know how significant of a measure we can really call this, but they did feel like it was a step they could take. >> the treasury department sanctioned 271 syrian government employees over that chemical attack. what does this tell us if anything about the state of the chemical weapons program in syria? couple of months back president obama was in the white house. secretary of state john kerry was go shading with sergey lavrov. there was an agreement by which international inspectors went to siri to look at the chemical weapons. what does this tell us about the state of the sanctions? it tells us that the 2013 agreement to get rid of serious chemical weapons stockpile didn't work. whether they kept a small portion of what they had at the haveor that they reconstituted it we are not sure. it is clear that agreement didn't work. we knew right after the 2013 agreement that assad continued
to use chlorine gas against his people. chlorine gas was not part of that agreement but it showed his determination to continue using chemical weapons. oflooking at pictures here the white house daily press briefing, sean spicer's. we see nikki haley the u.s. ambassador to the yuan speaking now. i also spotted the restriction -- treasury secretary there. let's listen ß. >> we started the morning at the blair house with graham and cardin as well as congressman smith and pass. of interaction, probably a lot of -- an hour and a half talking the budget to peacekeeping as well as conflicts north korea and syria. theproblems and iran. it was a healthy discussion there. there we came to the white house and the president greeted the members, had his picture taken with them. then we all sat down for lunch. it was an open dialogue, very
much of the members wanting to hear from the president what his plans are. but he was going to continue to do on syria or not continue to you, north korea. all those issues are certainly at the forefront. the idea that he would have that dialogue with them is tremendously helpful to me. we needecurity council, them to now know that we are about action. we'll try to do in the yuan is bring reform in the way -- peacekeeping operation, but also in resolutions that are passed. that will we pass actually means something and that there is accountability. they for that loud and clear today. thrilledhat they are with the engagement they have. shows that the president is engaged on foreign policy. they see that. the idea that you would sit down and talk to them about each of their countries and the security council collectively is massive for president. it was certainly helpful for the
united states. they are embracing general mcmaster. focusing on north korea, also on isis. on that front, they will continue to have other conversations as well. great day for the security council, great day with the president. certainly more good to come out of this meeting. thank you very much. i have ambassadors waiting. we will talk to you soon. into, steveurther mnuchin. seems that i'm becoming a regular here. earlier today the united states from treasury's office of foreign assets control imposed sanctions in response to the april 4, 2017 sarah attack on innocent civilians by the regime of syrian dictator assad. employeessanction 271 of serious side effects study
and research center. the syrian government agency for producing unconventional weapons and means to deliver them. employeest is 271 because they have expertise in chemistry and fish or related fields or have worked in support of chemical weapons programs since at least 2012. today's action was banned three onks after the attack country:, is one of the largest ever executed by oh fax. in a single action we are more than doubling the number of individuals and entities with sanctions -- the start of the syrian conflict pursuant to syrian related executive orders. sanctions are intended to hold the assad regime and those who support it directly or indirectly accountable for their blatant violations of the chemical weapons convention in un
security council resolution 21 118. united states is sending a strong message that we will not tolerate the use of chemical weapons by any actor. we intend to hold the assad for itsccountable unacceptable behavior. the treasury department together with the department of state and willnternational partners continue to relentlessly pursue and shut down the financial of any individuals involved with serious production or use of chemical weapons. comment, recently we had a sanctions on north korea and add tod will continue to and monitor those as appropriate. with that i'd be happy to take a few questions. only round of sanctions that will be taken against syria, or are you considering more?
are you considering sanctions against russia for not going far enough? >> we do not comment on the wecifics of sanctions that are going to do in the future. again what i will tell you is, the sanction programs are very important. they are very effective. we will continue to use them to the maximum amount available by law. >> is the border while it deal breaker for the president even to the point of a government shutdown? >> i won't comment on the specifics of that. i will say i was in a meeting this morning with director mick mulvaney and other senior people . the president is working hard to keep the government open. addressing various issues. can you tell us what these sanctions actually do? what's different today than was yesterday? >> they are enormously important. additionaling 271
wille, these sanctions freeze assets if there are assets here, and prevent u.s. entities from doing business, as well as they have enormous impact with all of our partners around the world who also work with us on these issues. courts the administration is trying to grapple with the paris climate agreement. where do youtand on it? >> i would just comments, that we are having discussions on the and that's where i will go. are you aware of american companies doing business with those individuals and a sanctions state? president said their big tex affirm on wednesday. >> he did indeed. >> i mention that surprised you. what can we expect? >> let me first say i have been working with the president over
the last year on his economic plan in regards to create a growth. the president is determined that we can get to sustained economic growth of 3% or higher. we are working on tax reform, regulatory reform, job creation. this is something ---meeting weekly with the house and senate designing things. what will come out with more details on wednesday. along the lines of tax reform, the specifics will be delivered on wednesday. without getting into them, what does the middle class game if there -- gain? the footloose deductions how does that help the middle class? >> we have been clear with the president's objectives are for tax reform.
middle income tax cuts, a prayer ,o you of the president simplification, the average american should be able to do their taxes on a large postcard. tax reform, we need to make business taxes competitive, and we expect -- doing that will bring back trillions of dollars from offshore. >> is it a good idea to start talking the tax reform, something you said can't be accompanied by a question if you details?>> is the important that we are talking about this. i was take a couple more. -- it'sou follow up on not clear but the 271 people.
you suggesting by looking at these sanctions that there are u.s. companies are they have holdings in the u.s. are they would travel or do some sort of are?t breathing or barring >> i can't comment on the specifics of these sanctions beyond what we release. i can assure you, when the u.s. puts out sanctions, they have impacts both here and throughout the world. we wouldn't be doing this if we didn't think it was impactful. would you say that simplification of the tax code would be the first priority?you mentioned closing the gap with growth. which will europe first? personal side for middle income tax cut and gnification. on the business side, we are about making them competitive. this is the last one. the tax plan will pay for itself
with the economic growth. >> thank you mr. secretary, ambassador haley. -- st want to >> steve mnuchin speaking, sean spicer now back at the podium. joining me to talk about the sanctions that were just announced, someone who is cover the treasury department before. and sahil kapur joins us. syndicate bifurcated press briefing there, half on the sanctions, have fun taxes. let me start with you. me ask about the sweeping sanctions hear the treasury secretary announced. he said seem up -- these are some of the biggest we have had in some time. what precipitated this, what brought it out today? we wonder why these didn't proceed the strikes we saw few weeks back. >> these sanctions according to
an official i heard from this morning target 271 senior syrian government officials. these are people who have expertise and ability to develop the very kinds of chemical weapons used in the april 4 attack. sanctions are hitting these very people. the moment they step outside of syria or that they try to engage with global financial system. they will face u.s. sanctions. have a u.s. secretary who preceded mnuchin who is keen on the sanctions. we can't use them anyway that secretary says not. you see this is a continuation of that is a administration approaching them differently? see wherebit soon to mnuchin and the administration lamps on sanctions. you can tell trump is taking this very seriously. he came out saying they have crossed a redline antique changed his stance from before. what he thinks about syria and how the u.s. should get involved rather than stay out of it.
we will have to see. we do not the euro structure -- secretary does spend a lot of time trying to understand how the sanction side of what he does works. that is yet to be seen. sayingtreasury secretary he is been engaged with the house and senaten a tax reform proposal. what is your sense of his engagement in liberal has he been playing your crafting this was in the white house? >> he has said many times that he is meeting with congressional leaders and the president every week which includes terry cohen and the president. he visits senators and house republicans on the hill. that he ise seen is talking very clearly about simplifying the tax code. he wants to see americans he --e to do their taxes postcard or something bigger. saturday that the
u.s. will see short-term budget pressures from tax reform. that is something that will rove for -- >> what is the engagement euros in between the white house and congress, treasury department in congress when it comes to tax reform? >> there's the month of beatings. meetings. president trump's announcement yesterday that he would roll out a tax plan -- this is got congressional officials by surprise. there was not a lot of communications about this plan. that it was coming out this week was going to be a surprise. we just are the treasury secretary talk about the principles that he won -- wanted the president half, a middle income tax cut. it's not clear how this will be achieved -- it will be an
absolute tax cut, there will be another for the upper class. we heard him talk about able totion, being file -- americans filing their taxes on a postcard, making business taxes more competitive. there are that need to be inwered in terms of getting -- an understanding of how this can move forward in the house. president proposes something of what houston publicans have put together and plans to move forward , or related to be a departure, and is the president going to endorse any revenue raisers? whether it is net interest the duct ability or a border adjustments tech -- tax. >> treasury secretary steve mnuchin said this morning, mick mulvaney -- talked about the shutdown. what role does the treasury department play in that debate? >> the treasury secretaries job is to make sure that the world
in markets understand that u.s. debt will be paid on time. everything will continue to be regular and predictable as far as the treasury is concerned. and to implement extraordinary measures to delay any kind of shutdown or emergency. meeting scheduled tomorrow, we will secure he come there, the director of the national economic council. then some members of congress and conversation about tax reform. what is the purpose of that meeting/? visit to sell people on the plane about the congressional plan? >> it seems like it will be the white house officials briefing congressional leaders on what the president will announce on wednesday. those conversations have not happened yet. the participants in the meeting will be recon and steve mnuchin as well as speaker paul ryan, mitch mcconnell come and the chu
-- two chairman of the tax-writing committees. we'll see where this goes. meaning will happen on capitol hill tomorrow around5:30. >> thank you so much. let's head to bloomberg's julie hyman for an update on whole foods and notable earnings movers. julie: there has been talk about whole foods potentially putting itself up towards sale. the financial times is reporting that albertsons might be in the running. albertsons is backed by cerberus capital, privately held company. had a talkslts have with salt -- folks have had talks with whole foods. they are trying to figure out -- we are trying to confirm this. you see whole foods shares are reacting. they were already trading at 52 week high today before the sidelines cropped. on the flipside, albertsons
talks have not been progressing. you saw a bit of a lower -- this is down a most 3.5%. we will continue to monitor both of these, giving you any updates as we has -- have them. we are monitoring earnings season. looking at some earnings today, a companylinois -- which makes auto parts, welding equipment, raising its forecast 4%er earning estimates -- hasbro -- the toymaker revenue bear up to seven straight -- quarter. that was driven by digital someg which helped offset declines in star wars and marvel . we are in between movie releases so didn't see a boost in those gains. as for earning season, take a look at the bloomberg, g #btv 8029. this shows year-over-year percentage of growth.
as predicted, it looks like we have a return a double digit growth for the s&p 500 index earnings, over 10%. that's what the earnings thus far are showing. we are at the halfway point, perhaps more here for the earnings season. predicted. is been it's one of the reasons they frequently cite for -- >> thank you very much trade coming up, former president barack obareemerges onhe blic stage, speaking to t university of chicago, his message and motivation next. watch us talk at tv on the bloomberg. this is bloomberg. ♪
former president barack obama reemerges in the public eye today, taking the stage at the university of chicago. on peopleed mostly discussing challenges facing society, offering support to future generations. let's go to kevin cirilli again. his of statuary hall on capitol hill. we got a statement last week announcing he would do this. what do them -- do we know about what he discussed today? kevin: it was largely an a hopeful message, message. it was also something that wasn't market moving to grab a lot of headlines. this is the first of what is reportedly going to be a series of speeches former president obama will make. he is looking to do it similarly in the form of advocacy expect -- by speaking to a new generation of political leaders. also of course paid speeches.
spoke with the senior democratic strategist who told me that by default, there are several people, prominent people in the democratic party who are hoping that president -- former president obama will take a more forward thinking about spoke and wrote van other former presidents come simply because of the political sophisticate -- our current time. by default if you look at what happened with current democratic national committee chairman tom perez, this is someone who was anointed by former president obama. clearly behind the scenes, the obama operation is the playing a significant role. more publicly, they are that more subdued. david: i recall before he left office, he said there was a bar for speaking out and he went on political issues on certain things. what did he have to say about what might lead him to do this? kevin: when you look at what it's come out in the final days of office, you have a situation
where this was a movement -- the former administration was laying the groundwork for types of issues that president obama would weigh in on. whether social justice, even redistricting or civil rights reform. those are issues that you could see the former president in on. again, we haven't even finished president trump's first 100 days. former president bush is praised for not being so public when president obama took over. david: we saw last week emmanuel macron sitting at a conference table with a speakerphone on, talking to president obama. mr. macron is being seen as -- a legacy being passed from president obama to justin trudeau now to emmanuel macron. what do we know about their conversation and what they discussed last week in paris? kevin: optics is everything in politics especially international geopolitics. with what the senior democratic strategist told me
just moments ago, the former president's heir apparent to the modern progressive movement. until there is a new world by democratic leader still that leader for democrats. david: thanks kevin. recapping this headlines from today's white house press briefing, sean spicer speaking there, he was talking about new sanctions that would be put place by the treasury department. steve mnuchin spoke, so the treasury department is sanctioning 271 serious, mostly -- working on the chemistry -- chemical weapons program. you can catch the rest of that on the bloomberg with the function tv . this is bloomberg. ♪
scarlet: we are life and bloomberg world headquarters in new york over the next hour. we are covering stories of washington, paris, and beijing. here are the top stories. we begin with markets risk on, offering major u.s. indexes on track for their best face since march following the sunday french vote. treasuries and gold falling with investors betting on a micron -- macron victory in the second round. treasury secretary steve mnuchin telling reporters the president trump is working hard to keep the government from shutting down. plus, turner broadcasting chairman john martin says, companies are moving advertising boat -- dollars back to tv from digital. more for my interview with him later this hour. let's get more context and numbers. julie hyman, it was up at the start of trainin