tv Bloomberg Markets The Trump Economy Bloomberg June 6, 2017 1:00pm-2:01pm EDT
tat's e lawmakers at the white house today. health careward on and tax reform is on the agenda. the testimony from james comey threatens to distract from all that. push forlong cincinnati is tomorrow. i will speak with the infrastructure investment group. you'll have more from our exclusive interview from tm cook -- tim cook and why he is not on any councils. -- advisory councils. president trump kicked off what tocalled a researcher week monetize and privatize the air traffic control system. he focuses on legislation n tweeting about tax cuts
and health care. the whitewill be house for meetings and dinner today. that is happening ahead of james comey's highly anticipated testimony on thursday. i'm joined from statuary hall, great to talk to you. what are lawmakers hoping to get out of the meeting? >> david, this is a fairly regular meeting happening between congressional leaders and president trump it'll be the top three leaders on the republicans out of house and the top two in the senate. they discussed the legislative agenda. that is the expectation today. the top two items on the agenda are health care, number one, and taxe number two. the bill is stk in the senate. mcconnell s a sttegic decision to make on how montague pushing on this in hope of getting 50 of his 52 members in line.
it is for me to be a difficult task. t is on the's what president's agenda for what about republicans on capitol hill? >> they want to get a build on. they squeaked into the house and senator mcconnell was been the architect of the repeal and replace slogan, certainly wants to make it on this. it is a tough call, though, because he will have to make a decision on whether the pain of uniting his conference taking a tugboats will be worth the political fallout. it is not particular popular in the house even if you second of to the affordable care act. david: what is the direction to the proposal mentioned yesterday? he sent a letter to lawmakers encouraging them to follow through on the proposal he presented about prototyping -- i wrote -- privatizing air traffic control. lawmakers more receptive this time around? >> we know the committee
chairman in the house is supportive of the plan. the scheme that he proposed yesterday is essentially based on that. it will have support in the house among top republican figures, but it is not clear it can pass the house. in the senate you have republican sanctity democratic support. there is a filibuster in the senate that the democrats can use but they are not in favor of privatizing it. yet the democratic leader thing earlier this morning that the are eager to work with president trump on putting more money into the nation infrastructure .rogram it hasn't happened. there has been very little communication according to my sources on the issue of infrastructure. for lawmakers to do what they want to do. david: funny has to be taken care of. do have any more clarity about
the -- about raising the debt ceiling or anything like that? thate white house signaled they would like congress to get and byt ceiling raised the time they get back, they will be staring down a host of deadlines including keeping the government funding, extending the children health program, and somewhere in that, the debt limit will have to be raised. there are reports that a lot of wealthy people have deferred their tax bills in the hope of getting a tax cut. retroactive one. the treasure is short of revenue at this point for the debt limit. it will be a very important issue the congress will have the deal with potentially before the summer. that. for the testimony some to
9:30 a.m. wall street time. hill,s really, on capitol is joined by members of the foreign relations committee. ? kevin? >> thank you, david. for some formyou of him a senator, about your trip to singapore and vietnam where you heard from secretary --he secretary overseas. what is the perception about the current administration? >> there is widespread concern that the message is withdrawing. there is concern about the withdrawal from the trans partisanship and questioning whether we will remain a strong power. terrific speech was given. i was part of a bipartisan delegation that was there to reassure allies in the united states and tends to remain strongly engaged in the pacific region. kevin: senator, you talk about the concerns overseas. james comey will be testifying
for the senate intelligence committee. what will you be listening for? >> what is most important is to hear clearly whether, in conversations with president trump, he was pressured to stop the investigation into the former security advisor to slowdown or delay, or abandon the investigation in our elections. i do think it will be important or the american people to hear from the former fbi director, confirmation, on what our intelligence community found that russia did intentionally interfere in our last election. kevin: when you look at it in terms of what we have seen of the fbi, this is a man who has received criticism from the west, as well as the right. president trump has gone after the former director. is he messing with ron got? >> he is. he's messing worth the wrong institution as well. my concern is there is a e nominee from the
president. we saw terrorist attacks in great britain and he hasn't an ambassador a method i to the country. underminingump is one of our closest most vital allies by picking a person to fight with the mayor of london rather than express his accord for the people of great britain. kevin: those global news today about saudi arabia and the decision to cut diplomatic ties. the president has tweeted that he supports that. you agree on that front? president is that the is that thecern president kurds all the allies to isolate cancer rather than negotiate with counter about different paths. i understand in which the ways in which countries like saudi theia dislike cutter and
information i ron. i think there might have been a better path on this resolution than an abrupt cutting of ties. kevin: what can congress will be administered to do to interfere or referee, so to speak, what is going on? >> accord concern i have is that president trump repost a 30% cut to the development of the united states. great instability around the world, whether it is north korea and syria, the persian gulf, russia. for us not to have ambassadors in several of our key posts, and to cut back on diplomacy funding semantically, it strikes me as unwise. kevin: it is reckless? >> i think it is reckless and greatly concerning. as the bipartisan support for this other bill? robertshrilled that pat
is my lead cosponsor and this event. would increase the tax for manufacturers that make your things that they invented here. virtually every american has a smart phone. most of the details, the operating system, was developed through american rmb. virtually all of these is manufactured outside of the united states. this is a step towards more made in america. giving we're a long way away of tax reform in the senate was this could be something included in a broader text by later on down the road? >> my hope is this the best this is the sort of thing to take up on a bipartisan basis. it would make a great component. a from manufacturing component, if and when that ever happens. kevin: chris and donna very busy week. we appreciate you coming to bloomberg. david, back to new york. david: kevin, thank you very
much. let's get a check with mark and a julie hyman to secure the latest. julie: thanks, david. it looks like we are remaining in upon mode. you records but not able to achieve them. at least not today. where down and trading a narrow ranges again. we watch a movement in oil prices, and if you look at the entry date. having not more than 1% after the administration, and raise the oil for the month, and year as well. for next year, it raises gasoline and the poor desperate u.s. gasoline will at 230 ck allen this year. $2.38 per gallon this year. today,cks are raising not just because of energy prices, but because of specific example,he u.s., for
is not reconsidering the approval for an lng terminal that is cutter backs. in cooperation with exxon mobil. exxon shares are trading higher today. target over at deutsche bank's $106 a share. devon energy, according to analysts is oversold on fundamental and technical measures. analysts are still bullish. on the flipside, you can look at the u.s. dollar. it is trading of its lower what again today. you see the one-week chart turning lower by about 9/10 of 1%. one of the trends we have been watching is that there hasn't been a traditional relationship between oil prices and the dollar. take a look the bloomberg. we have a correlation between 916 eight.g# btv this goes back five years. here's a negative correlation to where we are now. that's a very strong one. historically, it has bounced around, but it has been typical
that it was a stronger negative correlation than it is at present. we will see if that's relationship comes back into effect. today, it is a fact. oil in the dow is down. david: julie, thank you. meeting isrom the they say he is pleased with the direction that u.s. is heading with china and talks. it is an aupt departure for what the obama administration had been done to combine the issues alternating from beijing and washington. he said, there nothing in concern in the near term on the economic -- on the chinese economy, and he said he is is on getting china to open the market field. this will be a meeting on an economic dialogue. estrogen in the u.s. and china. that's this summer. , the backlash on the climate accord withdrawal
david: this is bloomberg markets, the trouble economy. i'm david. let's check on the first word news with mark crumpton. hammer ton used a attack a police officer outside of notre dame cathedral. authorities say the officer shot and wounded the attacker. the associated press signs and official that said the officer was patrolling and s cannot that attack. the attack happened around for that exam verisign.
in april, the attacker open fire on a police van on the sean's luczak.-- sans the talked about the country security service to review and e tech in london. their concerns about how one of the london bridge attackers was able to take part in the violence, even though he had been known to british authorities. in afghanistan, the government as drastically raised the death toll from last week truck bombing -- last week's truck bombing. over 150 people were killed in the attack. that means that was the deadliest attack in years. the saudis, the united air emirates, egypt, have all come
up their entry that see transport and cut off cutter's only land border. kuwait has spoken to cutter ruler and travels to arabia. global news, powered by more than 2700 journalists and analysts in over 120 countries. so much.rk, thank you emily chang said on with tim cook at the developers conference in san jose california. they discussed the product line and his reaction to president trump's decision to withdraw from the paris agreement. i think he did listen to me. he didn't decide what i wanted them to decide. i think he decided wrong. , not init is not good the vestiges of the united states what he decided. of theay w the
way i look at this, do you interact with politicians or you do not? my view is that, first and foremost, things are about can you help your country? if you can help your country, and you do that by interacting, then you do it. the country clips is politics. >> so you have other people leaving the table though. like elon musk. as the president jeopardizing his relationship with one? of his key constituencies? ? the business community. i would differentiate. i'm not speaking for those guys. i would differentiate leaving a council and advising in a way that you think would help the country. one is ahe first judgment call that people make. . didn't join a council
it is not a decision i had to make. i understand both sides of that. thign youon some believe will help america, i think that is a requirement. you definitely do that. to go pitch chance the paris agreement again, i will do it again. i think it is very important that we engage to fight climate change on a global basis. this isn't something where you can solve it country by country. it requires a global action. omission is created in one country, they affect another. it's something we feel they are that we feel very
strongly about. i wanted to do everything with thing they could do to tell how important it was to stay in agreement. unfortunately, he decided something different. >> why don't you join the council? two reasons. one, but primary job is being ceo of the company. i spent the bulk of my waking hours doing that. i do so willingly because i love the company and the people in it. traveling back east isn't something that's i look forward to doing. except when i need to. secondly, i don't find these councils, in general, to be terribly productive. about not wanting to advise on something where i helpht you know, we could or we could have a point of view that should be heard.
. am doing the latter i can't imagine a situation where i wouldn't do the latter. i think it is in the best interest of america to do it. i am first and foremost an american. david: a small part of the exclusive interview with tim cook. you can check the rest out bloomberg.com at -- you can check the rest out at bloomberg.com or on the bloomberg terminal. ♪
david: he is has urged representatives this week. -- the u.s. house of representatives. democrats strongly oppose this bill and republican leaders say make changes and financial reform will be difficult to make without bipartisan support. jesse, if this makes it to the senate would not through the senate, other component parts that do enjoy bipartisan support
that you can see living on? >> yet. everyone says they want to help community banks which are the tiny banks that lend people in small towns. this seems to be bipartisan support. there's not a lot of interest in wall street for that. community banks are sort of dying with or without regulation. in the bill,ems the financial transact, it'll seem to be going very far. made: there were changes to the bill. there were proposed caps on ends -- debit transactions. how much is the bill of all to the last few months? >> the provision you are referencing would be -- there was a cap in dodd-frank the capped how much banks could collect from retailers when customers use swipe fees.
of the voted because no one on capitol hill wanted to pick two sides in a fight between walmart and jpmorgan. that's battle was fought aggressively during dodd-frank. a lot of blood and teeth on the floor. republicans wanted to relitigate that fighbut, most of his colleagues in the house, his republican colleagues in the house were not interested in relitigating the site. the problemeyman is here. happening?russian other complaints about the structure starting to result in any real change? agenepublicans have that cy in a box. they have basically paralyzed the agency. legislatively
scrap the rules and enforcement actions are few and far between. even without any congressional action. just with the ginger messaging, that agency is not doing very much. is more or less doing what republicans have always wanted to do, which is the irrelevant. david: jesse, thank you very much. up next, the president is in cincinnati tomorrow, but of a aeklong push on trying to get hundred billion dollars from states, cities, and private investors. with the plan work? we will discuss it next. we will discuss it next.
delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. tthat's why at comcast,t to be connected 24/7. we're always working to make our services more reliable. with technology that can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. is bloomberg markets, the trump economy. let's start with headlines of first word news, mark renton has more. mark: bridge police have named a
third london bridge attacker. he is identified as 22-year-old yousef suck the and is believed to be -- italian-moroccan descent who lived in east london. the other two attackers were named monday. all three were wearing fake suicide vest, shot dead late saturday after ramming a van into pedestrians on london bridge, then slashing and -- aing people nearby nearby market. seven people dead, dozens wounded. less than 48 hours before voting begins in the u.k.. will minister theresa may se foreign minister boris johnson to the northeastern england today. the ries ved to leave the european union. johnson will say only may can get this right. meanwhile gerry corbyn for short his support and working-class areas.
the u.s. is threatening to quit the united nations human rights council, unless the body institutes a series of reforms in substance singling out israel for criticism. this according to u.s. ambassador nikki haley. the trump administration, which has proposed reducing u.s. coming to the u.n., since council shields repressive regimes such as venezuela and iran from scrutiny. secretary of state rex tillerson warned in march that the u.s. will leave the human rights council if the organization does not make changes. george and amal clooney welcome twins. their publicist stan rosenfeld says, l and alexander cooney were born at a london hospital this morning and are happy and healthy. the couple married in 2014, these are the first children from both,. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries.
i'm mark crumpton, this is bloomberg. david? david: mark, thank you. president trump once more private investors to spend more money on infrastructure, that's something that happened successfully other countries, but not to the same extent here. my collie covers infrastructure ,nd joins us now columbus, ohio 100 miles away from with a pleasant -- president will be tomorrow speaking in cincinnati. what do it other countries do differently than we do here, and h harwill be to apply what they do to the u.s.? >> part ofits first history of countries doing it. in some countries the federal government owns more the assets so it's easier to do those deals. a lot of this has to do with barriers that exist in the united states and have for a while. for example, it's much easier to tap the tax free municipal deck market to get money for projects. we also other barriers including legal barriers, were not all states are authorized to do this
-- public-private partnerships. we also have political where, particularly unions and democrats say some of this is privatization. they want to see these assets remain in government hands and control. david: when mr. happened to make this work? i will listen to the president mark, what are you going to be listening for? >> he said tamara will focus on inland waterways. but i think we are also listening to see broadly, just he will incentivize these public-private partnerships. capital --ot more there's estimated trillions of dollars of capital of there that want to invest in u.s. infrastructure projects but there are too few in the pipeline. part of the thinking is, we need to have incentives from the federal government to do these the three deals.
we haven't heard from the administration, what these would look like. they talked about using $200 billion of leverage for public and private investment, but we don't know yet how that would happen. david: you cover the waterfront, are there any cautionary tales? xamples is that the white house should take a look at? well, >> will we have seen deals that haven't worked out too well for the public sector. is, chicago in 2008 leased its parking manager -- parking meters to it private sector company and inspector general determines that chicago left $1 billion on the table. if they'd kept them in the system they would've had that revenue. frankly a lot of this has to depend on what kind of contract is negotiated between the private and public sectors in terms of what the deal is going to be, how assets will be maintained. noot of this has to do with deals are structured. >> mark, great to speak with you as always. perspective that from someone
who has invested public-private partnerships in the u.s.. you are heavily invested in what, the aipac region. far,what you've heard so does that stand to change question mark could the u.s. become a?more checked if place for investment >> to be fair it already has been mainly energy and power. 85% in infrastructure -- here in the u.s.. typically to regulators in the private sector -- is active. the real challenge, and i think mark really covered a lot of the real issues in the mix, is that there isn't a scalable program of addressable investment opportunity. unfortunately the challenge of a global basis, there's zero correlation between needed andure addressable investment opportunity from it private sector inspect here -- purpose -- perspective. looking at clarion pgrams with
its private -- privatization, public-private. are trillionse of dollars of capital at there. an effect, the united states should be the leading market in the world. but the one is that, privatization of private sector capital is not an end in itself. it's one procurement option available for the government impact, quality of infrastructure. david: what's the greatest miss out -- misapprehension we have? i can go to laguardia and complain and hope that it changes tomorrow. these are projects, especially in -- they take a lot of time. >> whether the private or public sector funding it it will still make a misery of your life. [laughter] there are two key issues. there has to be sufficient risk transfer to the private sector to make it worth it costing more. it's cheaper -- whether it's construction costs come operating costs, revenue risk transfer to the private sector,
there has to be -- sufficient for there to be value for money. issue ishe second around revenue. the reality is, this infrastructure hast to be paid for. it's not -- it will be tax or user charges. that's a highly politically contentious dynamic even in the best of context. that has to be resolved. david: as a sense of china -- timing changed? imagine you listen to the president's speech where he expressed a desire to do this. what you think about when this might happen -- we don't have a fleshed out proposal yet -- what is your sense of timetable? >> the good news, the united states is not unique in the challenge of mobilizing these programs. it's tough. my experience, 3-5 years to mobilize an ace of central --vat -- program a public 2 if you have cohesive policy and an effective administration. i think that the united states is not unique in the challenge of getting that cohesive policy
and effective administration around it. frankly, it's going to take time . i wouldn't be holding my breath. -- theannouncements billions of dollars being raised for investment, just don't say that opportunity in the short-term. last year totals just over $70 billion, 85% in energy and power. but the reality is, if the united states gets back together, the capital will be there. everyone will want it -- to consider yourself to be an underdog, how does that change the way you approach this? all right if of growth is phenomenal, largely done to the fact that we are being thoughtful bauer rigo played and pursuing the opportunity. it's absolutely winning with our
clients in the last five months alone. we've raised over $3 billion. get a different strategy -- certainly i would see ourselves as one of the leading players. david: great to speak with you. we'll talk again soon i'm sure. pressing boomer care -- two percent to fire more than in a harassment -- monitor the news throughout the afternoon. 20r set to fire more th employees in a harassment probe. can the transpacific partnership with -- succeed without the u.s.? one study from canada says that an 11 nation tpp deal could be beneficial. this is bloomberg. ♪
david: workbench this is bloomberg markets, the trump economy. voters will go to the polls in the u.k.. german corbyn's labour party within arms reach of theresa private officials from canada and the u.k. may not party -- are preparing -- editor-in-chief. let's talk about the global geo-political landscape. nothing changed since we last spoke. g7 -- the nato summit, and paris climate accord. >>-biggest shift is -- the european field trump, what you can argue was never positive. that has hardened in and out -- outright opposition. donald trumps to her went quite well in arabia, then he came
back to europe and ran into trouble. you know see macron anding up as an anti-trump figure. you mentioned the u.k. election the mayor of london against trumps tweets. there's marvin cap there than there was before. --ling a lot of people that's geopolitics. weatherman's difference in the republican base or the trump base on whom trump depends, that's another question. that's the question still hanging in the difference between america and the elite probably the strongest it's ever been. david: this piece was in the wall street journal -- h.r. mcmaster laying out the case for this america first agenda. -- whatgenerally seen
was interesting about that piece, it tried to set a new tone, particularly went on this idea of a community of nations. one of those great phrases that this into believe -- but never actually get much run. your are only communities you compete -- basically again, that --ms -- the over correcting yes you could be slightly more determined. really, america's soft power around the world -- the reason that it's subpar much powerful than any other country's resources, the other reason is its ability to get allies to follow it. russia does not have many allies. china haa few rtly because america's retreating from it. russia, if you have syria and is pakistan, it's not a great start.
from number trumps on touch point of view, that looks like will i should have losers? \ actually not having allies, not having the ability to get what you want done, that's an expensive proposition. david: you wrote about president trump looking at ceo -- frequent somebody ceos. let's say their activists -- investors, board of directors weighing in. think the business committee, the interesting thing, the trump people don't seem to see the business communities as the court. people seem to go back to the -- frustration that has to be said -- business like members -- that i think is a typical bit. -- has to bey move
someone -- that has to be someone either in the senate something like that. yeton the cuisine a signed it -- just to be clear, that the republican basis is cross. the europeans are as well, democrats are for a cross with him, maybe more independence are less -- independents are less enamored. carbon is still with him. david: lastly here about the election on thursday, we he seen the poll na. of course the terrorist attack over the weend through this piece at here about the labour party reckoning with the fact -- >> it so it's always bad when somebody hypes -- i think this is very interesting. -- have in terms of calls this one showing us a 1% gap, that would be accessed or for theresa may, tories, calling an
election. the shortest offense, to continue the racing analogy. what we have in the story is interesting, saying, look at the constituencies. the labor activists think corbyn is not working in many parts of the country. a yes, you might accumulate he mighttes -- but actually lose seats. they are preparing for that. that's an interesting turn. with that it's hard to what to make of it. david: thank you so much for speaking with me. be sure to watch our when our u.k. election special on thursday evening at 5:00 p.m. here in new york. returning to trade now. president donald trump after the u.s. from the transpacific partnership back in january. the 11 remaining countries have given themselves until november to decide whether to go ahead anyway. new study upstate points to been its of an 11 nation tpp deal.
, thee we bring an author director of syriac consulting -- deputy chief economist -- a foreign affairs and international trade -- he joins me today from toronto. let's start with this. look rationales there, perhaps there's ill will, hurt feelings come in the u.s. has decided to walk away from this. is there economic justification stay wi ifor these 11 countries? suggests it'sort a viable deal. it's a ready-made response to any sort of protections coming out of the united states. it is a response -- not retaliation and trade globalization. benefits to the various parties. not necessarily -- fully ready-made deal, the since the united states was integral to some parts of it. this blog does leave issues on the table for the 11. david: to quote mark twain you the reports of his death are greatly exaggerated.
you look at the summit sector by sector basis, are there certain sectors that stand to benefit from a continuation of, or tpp 11 deal going forward? >> the biggest sectors that in theirl the wind sales are automotive, business services, and agriculture. but pressure across the board, what we see is positive. deal than the tpp 12 obviously with the united states and there, but for many countries actually, in particular the ones on this side of the pacific, it's a better deal. >>-esque about david: the u.s. walking away from the tpp, which took years to negotiate, getting to a point where it could be ratified. when you look at the economics of the deal going forward, without the u.s.'s participation, how does that stand to hurt the u.s. if at all? >> for the united states commits about it -- 16 billion u.s.
dollars swing and exports. so the u.s. would stand to gain -- it wasbillion about $3 billion because of trade diversion if the 11 go ahead on their own. in terms of gdp, the tpp was always going to be a small u.s. steel. united states does not liberalize much under their offer to the tpp 12. but they do then experience a small negative with the tpp 11. again, standard trade diversion. >> let me ask you about how and so the trade landscape is changing. such duties floating by hereby the u.s. -- when it comes to softwood. seems like the u.s. is trying to do more enforcement, things , bilaterale-by-case basis. one point you make, a tpp 11 would lead to more negotiating leverage. how that play out? global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries.
>> first of all, if you think back to the korea-u.s. negotiations, they were stalled for a long time. the european signed a deal with korea. within weeks, the u.s. was galvanized into action to finally pushed through the courts. thepressure comes from japanese beef market -- "are a tpp 11. the us beef sector want to have their fair share. so in there would be pressure the u.s. administration to actually come to the table. so from a tiny perspective it shifts the pressure on the u.s.. think tpp 11 countries -- that's the main thing. in terms of rules of origin, the tpp 11 would have -- it would mean that suppliers can ornize their supply chains on material inputs from all over the 11. that would be to the
disadvantage of u.s. suppliers. again, pressure on the u.s. to come to the table. david: thank you very much, great to speak with you. i want to recap have a near from bloomberg. uber telling employees, more than 20 people have been fired after a company investigation into sexual harassment, according to a person familiar with the matter. the latest on the next. this is bloomberg. ♪
this investigation, what was being look at -- looked at in particular. susan fowler, former software engineer and uber, wrote this blog post in february that dropped like a bombshell. she has outlined a lot of allegations including the manager propositioned her for sex and the human resources department head a sickly said they wouldn't take action. so that's what precipitated this, then uber connected an exhaustive investigation into sexual harassment that the come david: in. david:this is coming out of that investigation. the former attorney general, eric holder, conducting this. >> this law firm is reporting -- holders finding posted give more of a recommendation to the board, then release a public version of it. this was more straight fact-finding, let the company know and take action, regarding the sexual harassers.
more than 20 people have been terminated as a result of this investigation. there still investigations ongoing. i think more than 50. david: thank you for joining me this afternoon. uber were technologies telling employees more than 20 people have been fired as a result of sexual harassment allegations. quick reminder, on thursday bloomberg will have full coverage and analysis of james comey's testimony before the senate intelligence committee. it starts at 9:30 wall street time come -- coverage before and after the hearing takes place. you can catch all of our life events on the bloomberg with the function tv . this is bloomberg. ♪
welcome to bloomberg markets. scarlet: we are life and bloomberg world headquarters in new york. here the top stories we are covering from around the world and on the bloomberg. and markets, geopolitical risks on the horizon sending investors fleeing to safety. the upcoming super thursday of the u.k. election and ecb to -- decision and fbi director who was fired, james comey, is in e gold in treasuries to the highest levels in months. u.s. and mexico nearing a deal over sugar. an agreement between the two countries could set the stage for the white house is off to renegotiating nafta. in corporate news, tech companies joining the global -- howand cook called -- told they're working with the u.k. government to fight terror. u.s. markets close in two hours time. let's