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tv   Bloomberg Markets Americas  Bloomberg  August 13, 2019 1:00pm-2:00pm EDT

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president spoke to reporters before boarding a helicopter in new jersey today. he said he thinks china would really like to make a deal. the administration said it would delay until mid-december a 10% tariff on some chinese products on many holiday shopping lists, including cell phones and toys. clashed with pro-democracy protesters in hong kong's airport today, moving into the terminal, where the demonstrators had shut down operations for two debbie was straight days. officers armed with pepper spray and batons in front of the protesters who used luggage carts to block the entrance to the terminal. earlier, authorities were forced to cancel all flights as embattled leader carrie lam warns that the city is in danger of falling into an abyss. the temporary cease-fire proposed by the united nations was the first since the self-styled libyan national army
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launched an offensive in april 2 cap sure tripoli from the government. the fighting has killed more than 1100 people and displaced more than 100,000 civilians. more than one in 10 voters could cast ballots on paperless voting machines in the 2020 elections, leaving their ballots more vulnerable to hacking. that is according to a new study at nyu law school. the analysis found while there has been significant progress in his russian agents targeted u.s. election systems in 2016, many states have not done enough to make sure it does not happen again. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. in his 1:00 in new york, 6:00 in london, 1:00 a.m. in hong
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kong. i'm vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world. hong kong police exited the airport to more clashes with protesters outside. the airport seeing its second day of major disruption. embattled leader carrie lam risks the city could slide into an abyss. u.s. delays that 10% tariff on chinese imports until december. stocks surge on the news. u.s. consumer prices rise more quickly than expected in july as gasoline reverses a two-month decline as brent climbs. how the fed will interpret the data. halfway into the u.s. trading session. abigail doolittle is with us.
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trade continues to dominate. we have a nice rally, risk on day. we have two sets of headlines the markets are doing with. the trade headlines and the fact that that 10% tariff will be delayed until december for some consumer imports. that has sent stocks higher but we are off of those highs due to the political uncertainty in hong kong. showing more in bonds. more soacking up earlier, up seven basis points on the 10-year yield. a little bit of a haven bid on that uncertainty. take a look at the s&p 500. so much volatility but not going anywhere. on friday, we had a roller coaster day that ended slightly down. yesterday, a pretty decent down day. today at the open, slightly down, and then we surge higher.
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as the video footage came out of hong kong about the police in the airport, we went down to about 1.2%. shedding about 80 points. still up on the day. as for some of the big trade niceed movers, some gainers, apple up 3.9%. they received 20% of their revenue from china. their supply chain deeply embedded there. allt, caterpillar, nike have exposure to china, about 15 to 20%. finally, let's take a look at the commodity board. this has everything to do with trade. take a look at crude oil, cotton, copper. a nice rally for all, especially crude oil. china is the world biggest consumer of natural resources, so these commodities are doing well. gold, more of a haven, is down.
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at the lows when those trade headlines came out ahead of that footage from hong kong, both had been down 2%. with what is happening in hong kong, really coming off of those lows. it will be interesting to see how this plays out into the close. vonnie: thank you. as abigail mentioned, hong kong airport experiencing its second straight day of major service disruptions. not just that but clashes between hong kong police and protesters. we are joined on the phone with yvonne man from the hong kong airport. talk through how things escalated in hong kong and whether the protesters are still at the airport, even as we head toward 1:00 in the morning. yvonne: at this moment, we have seen the crowd die done quite a bit. it result out in the last couple of hours.
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police decided to exit the departure hall here. we have not seen a whole lot of police presence. i don't think they are even here anymore. there were some tense moments as we were on with you, at one point, when ride police stormed in. this is all because of what we saw four hours, a standoff between protesters and him and amanda they claimed was a mainland police officer, who they tied down, drag him into the departure hall, and held him as amulets and firefighters tried to escort him out, take them out of the area. finally, police came in. there were some tense moments for protesters blocking those entrances. seems like those areas have been cleared out at the moment. i am looking at the screens, and flights are still leaving hong kong at this hour, although it
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has been just a handful of flights. some have been rescheduled for tomorrow morning. we do still see some cancellations. slowly turning back to normal but certainly this unrest between protesters and the police and government is getting a little more hardened. both sides not backing down. vonnie: carrie lam making a speech overnight, choking up, saying the city is risking falling into an abyss. what do we know about future plans for the protesters? do they plan to go to the airport again tomorrow, in the coming days? we heard from some protesters. they say they may come back. we are not sure, we have not heard about any sort of set time or date about when they will be aming back, but we do know of march planned for this sunday. of course, this is after we
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heard from carrie lam this morning talking about the long-term consequences if these protests drag on. she maintained her stance, said that shelm, would continue to back the police, but did not offer any concrete proposals to try to use people's fears here that these violent crack -- clashes are coming to an end. we heard from some opposition lawmakers here in hong kong after the press conference saying it is very clear right now who is running hong kong, and that is beijing. beijing itself has not escalated the situation. president trump earlier on the said in new jersey, china is in a tough situation regarding hong kong. overnight.ng down 2% how are investors reacting, do they anticipate it will escalate further if china makes the statement or gesture on this?
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yvonne: we have heard from guests in our asia programming, it is not just the political situation but the fact that hong kong is also stuck between the china and u.s. trade war. even before these demonstrations started 10 weeks ago, people were already quite bearish on hong kong. we heard from firms like jeffries who say they are looking at their bearish stance at the moment. economist have downgraded their forecast for growth as well. some are still signaling that perhaps hong kong could enter in a technical recession, if we continue to see this unravel further. it has not been a good picture. carrie lam has certainly been putting that message across but not offering any major concessions. vonnie: our thanks to the yvonne man, our bloomberg markets: asia anchor. on u.s. delays china tariffs
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some holiday shopping favors. what it all means for trade talks. this is bloomberg. ♪
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vonnie: this is "bloomberg markets." i'm vonnie quinn. planned on some chinese goods have been booked on until december. the grace going to of our, toys, apparel have you two have been designed to avoid any price increases in the u.s. for the holiday shopping season. joining us now is shawn donnan in washington, d.c. you could be cynical and look at this as an effort to keep consumers in the u.s. happy into the holidays, buying and spending. but it is also potentially a
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breakthrough in talks with china. shawn: you could be cynical, but that is exactly what the president said today in new jersey. delaying tariffs on about half of the goods that would be hit, cell phones, laptops, toys, was about making sure the christmas season was not disturbed in his mind. that, in some ways, was a tacit admission from this administration that there was a cost to consumers from these tariffs. that is something the president and others have denied in the past, saying china is footing the bill of these tariffs, despite the fact that economists and businesses disagree. this is president trump playing to the american consumer and making sure they can do their christmas shopping. is it a breakthrough in the talks? we will have to wait and see on that one. two sides spoke by phone
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this morning, set to do so in a couple of weeks. it is worth remembering, 12 days ago, when the president first announced these tariffs, that was in the wake of some other face to face talks in shanghai. there is more talking ahead, ahead, just a bit of a respite for folks shopping on christmas. vonnie: i want to play a few of the remarks from the president. >> they would really like to make a deal. the call itself was very productive. i am not sure if it was the tariffs or the call, but the call was very productive. vonnie: fascinating because he says it is not that she is not sure if it was the tariffs or the call. at the same time, the trade representatives speaking, and we
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got a list of those products that they are putting tariffs on. quite a big list, including agricultural goods. the one hand, a de-escalation, but on the other hand, china is not being let off the hook in any way. how does china respond? shawn: we will have to wait and see. the chinese are saying they held at the willing of the americans. that is something they always say. this call potentially would have happened anyway without the tariff threat. we don't know if it was a result of the president's tariffs. there is a lot that we don't know here. again, this is not necessarily
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de-escalation, just a splitting of the escalation. we now get it in two chapters. vonnie: shawn donnan in washington, d.c. in the last little while, pboc op-ed,ls wrote in an that it has responded to pressure on the renminbi by to theding market in keeping things stable. for more on how these trade headlines are weighing on global markets and today's inflation report, let's bring in michael pond from barclays. spread ating the 2/10 1.49. zero, does that change the thinking on whether a recession is in place? a relief rally,
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selloff in treasuries, higher nominal yield as a result of the headlines that you were just discussing. a longer-term picture is not a great one, as indicated by the markets. the markets are saying because of the trade war, there is a higher risk of the u.s. heading into recession because of global factors, and the slow down the we have already seen in business investment, spending, ism data we got earlier this month was not healthy. hitting lows back in 2016. payroll growth has slowed, at the end from 2.10 of last year. markets are concerned the economy slows further. what do you make of the inflation data today looking maybe a little bit healthier thought?ad not? --
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>> we think it is study, above 2%. we will get some volatility on a month-to-month basis. recently, it provided some upside risk relative to consensus. earlier this year, we were getting downside prints relative to consensus. the fed described that in march and april as just transitory noise in the report that they were willing to dismiss. similarly, when they get these upside surprises, it does not change the outlook or the fed. inflation is on a solid path around 2%, as i said, yet, the markets are priced or something much more bearish than that. the markets are priced for inflation that year to be around 1.5, 1.6%. we think the market at the front end is underpricing the risk to inflation. vonnie: what is the bond market
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moving on now? we are getting geopolitical tensions, seeing them ratchet up. , there was aay little bit of complication because hong kong escalated. at the same time, the trade headlines moved the market. what is the bid in the bond market now due to? >> overnight, the news in hong kong. the inflation data did not move the markets. it was only until the trade headlines hit the tapes, that we saw the rally. global political concerns you mentioned are causing significant volatility in markets. it is not just out of hong kong, but also argentina, italy. the political risks have spiked recently. investors are watching what has
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been going on there more closely than it has. it is more a global backdrop of risk that is causing significant volatility when usually we have a quiet august. vonnie: not for a few years now, though. right now, we are looking at a 2/10 spread of 1.45. when it was around 10 or 12 basis points, it felt like a lot of people were getting educated. now we are practically at zero. there does not seem to be as much agitation. why is that? >> i don't think there is an increase in agitation. the markets are agitated these days, but we have already had that spread at a pretty flat level, flat on the treasury yield curve for some time. whether 12 basis points, or two, as it is now. the fed has largely dismissed this as a signal for what they should be doing. they are certainly watching it.
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but also finding ways to dismiss it because it has not yet met with their core view of the economic outlook. vonnie: michael pond, thank you very much. breaking news, a tweet from the president, "our intelligence has informed us the chinese government is moving troops to the border with hong kong. everyone should be calm and safe." u.s. intelligence services have informed president trump that the chinese government is moving troops to the border with hong kong. we knew that there were troops already over the border, so what this means is unclear. the president wants to make sure everyone is calm and safe. trade clearly dominating market participants agenda today.
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still ahead, we look at how and why markets are reacting to the latest --
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vonnie: this is "bloomberg markets." i'm vonnie quinn. the trump administration announcing it will delay the 10% tariffs on some products until mid-december. meanwhile, global risks are wreaking havoc in u.s. markets. let's bring in sarah ponczek. from hasbro with a message to the trump administration saying the delay in these tariffs until december 15 would help and mitigate the impact on u.s. consumers in the upcoming holiday season, would also give the company more time to update global plans. i imagine that is what is happening across corporate rooms right now. sarah: when we think about what john terris was going to hit, it was the consumer goods. the likes of hasbro, apple.
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apple really rounding today, lifting those tech hardware stocks off the back of this news. after the announcement earlier this month, a couple weeks ago that we were going to get this rate on a $300 million worth of goods, we saw a pickup in companies releasing earnings, talking about the tariff situation. now if these are delayed, it gives companies more time, but at the same time, there is the potential they could be delayed again, and they can play a game of back and forth. vonnie: hasbro is up 3%. mattel, 4.5%. apple was up earlier. you have to wonder if that was baked in, about four percentage points market capitalization. is that a fair assessment, if these tariffs are levied, do these prices drop off again? sarah: we are seeing a relief
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rally, absolutely. if the trump administration pivots once again and says tariffs will be put in place, that will not be good. right now, they may have more time to figure out plans, but they may still say, we are not going to invest in this project. we are not going to put this money forward because these tariffs are still on the line. headlines, when these crossed, many investors are saying, it is today, things could change tomorrow. vonnie: that is sarah ponczek covering the markets. a global rally continues and we have that 2/10 spread underneath two basis points. this is bloomberg. ♪
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mark: i'm mark crumpton with bloomberg first word news. more than 20 states and cities are suing the trump administration over its new clean energy plan.
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the suit says the would reverse progress in addressing climate change and prolong the nations dependence on also fuels. the municipalities want the government to scrap the environmental protection agency's new affordable clean energy plan which president trump will use to replace the landmark obama era initiative that cap carbon dioxide emissions on many factories. rightfully spot with pro-democracy protesters at hong kong's airport today, moving into the terminal, where demonstrators had shut down operations for two ws straight days. officers armed with pepper spray batons confronted the protesters who used luggage carts to block the entrances to the terminal. earlier, authorities were forced to cancel all flights as embattled leader carrie lam the city risks of sliding into an abyss. weekly protests have become the biggest challenge to vladimir
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putin. a police crackdown has led to thousands of detentions. some protesters facing five years or more in prison. his popularity plummeted in 2018. meanwhile, incomes in russia have fallen for five straight years. in congo, doctors a new anti-ebola drugs are showing progress. two patient treated with the drugs have been declared cured. health officials have also vaccinated tens of thousands of people in congo and surrounding countries in an attempt to stop the outbreak but the virus has continued to spread for more than a year. response efforts have been repeatedly hampered by the tax on health care workers. -- attacks on health care workers. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg.
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shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to "bloomberg markets." here are the top stories that we are following from around the world. hong kong's airport sees its second straight day of major service disruptions as protesters dig in. donald trump reading the last hour the chinese government is moving troops to the border of hong kong. de-escalating a trade war. the u.s. delays the 10% tariff on some chinese products and stocks surge on the news. selling argentina. investors sell in the wake of defeat.t macri's all the action was midmorning when we got word that the tariffs would be delayed until
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december 15. the intraday on a lot of these is where you see the action. the broader s&p 500, almost every subgroup higher. real estate is just about flat. we do see that there are gauge of the dow, nasdaq. tech and consumer facing companies gaining. apple was up 4% at one point. gap, l brands, everything moving higher that is getting released. as we moved to the risk on sentiment, gold is risk off. there is gold on the day. investors taking money off the table. still near multiyear highs on the price of gold. oil, despite the fact there is a concern about a global slowdown, we got a similar pop in the price of oil as the do's crossed
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the wire. shery: interesting to see the byasury markets whipsawed global events, including the trade news out of the white house, not to mention the ongoing clash in hong kong. we have seen president trump tweeting the chinese government is moving troops to the hong kong border, not to mention the south china morning post is also a court has issued an injunction to remove the hong kong protesters. hong kong continues those protest. interesting to see the economy there continues to shrink. we have seen its economic clout diminish with its share of the chinese gdp falling in the last decade. let's get to our top story. for more on the ongoing events in hong kong, we welcome our asia anchor yvonne man at the scene. we have seen some violent pictures out of the airport. what are you seeing now?
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yvonne: we are not seeing those pictures now, things have died down quite a bit. most of the protesters have left the airport. we are seeing some more taurus and travelers come in. we are seeing some flights taking out tonight. earlier, we saw some rescheduled. we have seen hundreds of cancellations already today. at this point, what we are talking about, you mentioned that court issuing that injunction. a measure tops stop these protesters from coming back another day here at the airport. they say at this point we don't know the scope of this injunction order, how they could enforce this, but we have seen some moves at least to try and disperse these grounds after what was a very chaotic night. right police showed up at one point. protesters targeting people that they claimed to be mainland
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police officers. which they said was pretending to be a protester, they tied him down, drag him into the departure hall. there was a standoff or about three hours between protesters and aromatics trying to escort this man out, as he seemed to be unconscious at moments. police finally able to escort him out. but another incident, a second man that protesters that was possibly an undercover mainland officer. turns out he was a global times reporter. the editor saying that he was thisdoing his job, but newspaper has been tied to the communist party, so there were some protests. thene point, he was tied to trolley, said that he was supporting the police. he had a t-shirt in his bag but also said i love the hong kong police. the unrest continuing to have been even though the crowds have
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died down at this hour. amanda: we are hearing from president trump by u.s. intelligence, that chinese troops are getting ready at the hong kong border. from the protest point of view, how much fear are you hearing about the chinese army? that has always been the biggest concern, whether the pla would use force and support hong kong police officers. allegedident with his mainland police officer could perhaps be the tipping point for beijing to add force. that they areigns potentially mobilizing. state run media posting some videos of these paramilitary forces assembling along the border in shenzhen. that said, there are a lot of questions on how high that bar is. this is a dilemma that president xi has on whether to bring in the pla, or hope that these
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protests fizzle out. a tradet xi is still in war with the u.s. and president trump at the economic and political cost are still quite big. case for strengthening mainland forces is growing by the day. amanda: thanks for your great work, we appreciate it. yvonne man on the ground in hong kong. for more on that situation, we hui by victoria telephone. ofhave heard all kinds gloomy language, like hong kong risks falling into an abyss. map for me where you see the potential of this going, in other words, a way to walk back, either on a chinese or protesters side, and deescalate this situation. victoria: they have set for several weeks, mainland forces
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have been showing video of troops amassing along the border. most people don't believe the pla or armed police would go into hong kong. but the fear is they have turned hong kong police into more or less what the mainland officers have been doing. there have been such excessive uses of force. officers were dressed as protesters, beating people up. also, those that were arrested, they were not injured. said, oneir parents of them said that they had brain bleeding. in the hospital, the staff is in planning that these people have serious injuries. at the same time, medical staff are being told they cannot contact the family members of these people.
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also, those arrested are denied access to lawyers. they are already saying that sunday is the hong kong version of tiananmen. shery: you have worked in the hong kong democracy movement, so you know this well. we have seen these flash mobs of protesters around hong kong. how coordinated are their movements and how likely are they to be successful? victoria: this is a good point. how can a situation bd is collated, given it has escalated so much? the important thing is, after that one million strong march, and then another 2 million strong march, the government refused to budge. essentially, this means for the protesters that the government has not listened to them, so
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they escalate their action. police haveknow the provocateur's,t there were some who were firing into police stations, they have much more professional gear than the other protesters. the only thing the government needs to do is essentially, their five demands. to two most important are open independent investigations. these lam has been saying people are ruining hong kong. what has really ruined the hong kong economy is the government. leave it have to
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there. thank you for your inside, victoria hui. a possible all in the u.s. trade war, the u.s. delaying tariffs until mid-december. this is bloomberg. ♪
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news, weust some fresh have been watching the cbs-viacom deal. we understand they have gotten closer to a price ratio. we expect a deal announcement today. the new company reportedly to be called viacom-cbs. that started today's equity rally come the trump administration said it would delay the 10% tariffs on some chinese products until mid-december.
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damian sassower is our credit strategist for bloomberg intelligence. the strong to watch intraday reaction. it tells you something about the sentiment in the market right now. that's right, look at the 2/10. it is almost inverted, and that has never occurred without the u.s. going into recession. stocks have rallied on the back of that news. it has been a risk on rally, ignoring what is going on on the ground in argentina and hong kong. shery: you look at the mexican peso and the brazilian real rallying. interestingco is an one. that is when we all have to take a look at. 8.25.ve rates around if they do a 25 or 50 basis point cut, that will be stimulative for our economy.
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real yields are wide in mexico. going back to the china trade, the short-term reaction says it all. if you look at a sentiment indicator for a dollar complacency relative to the yuan, it is absolutely inverted. plenty to look at and plenty to discuss. amanda: we have been discussing the news out of argentina, questions around contagion. given everything going on, does this lower the temperature a little bit? damian: argentina is a different animal. we talked about this earlier. last year, when they made the policy error in argentina to cut rates in the face of inflation, that is what drove argentina into this mess. fast-forward to today, a lot of long only portfolio holders are in argentina. really more in the front
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end if anything. i don't think there will be much fromway in the footage argentina to the emerging complex, but all eyes are on hong kong. that is a different story. we are watching it closely. shery: thank you so much, damian sassower. for more on the recent moves we are seeing in emerging markets, let talk with ashleigh hart, head of emerging-market trading at td securities. how much do you agree with damien on the point about the contagion effect, perhaps that we will not see much of an impact around the world ashleigh: he brings up a good point. markets were very sensitive to the china headlines. we saw that after the announcement of the big figure drop. largely speaking, ignoring what is happening in argentina until we see more on the u.s. china trade war.
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amanda: we have a strong reaction today, a little bit of a push out on the tariffs. the talks, which we think are back on, by telephone, what do we need to hear to settle the markets, allow us to look back at the fundamentals, which may not be so good at the moment? ashleigh: at the moment, a deferral of tariffs, just a quieting down of the situation. it will be interesting to see if more news out of hong kong fills the void and continues the negative sentiment. there is a lot of idiosyncratic risk. hong kong is the lightning rod of the day. this: how do we know at point what will happen to the markets if we don't get a minimum resolution to this trade war? what happens to the markets if this is an ongoing process that gets delayed and delayed, for months on end? ashleigh: a protracted trade war is not ideal.
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we will likely see a chipping away. you have seen emerging-market assets performing poorly. investors are uncertain about the future of emerging markets. amanda: we have been watching inversion. damien says we are now watching the 2/10. where do you rank the risk of global recession? ashleigh: td estimated at over 50%. the 2/10 inverting is certainly a harbinger for a lot of people. their arguments to be made that we are in a different situation now, and there is a reason for curves to be this flat. accommodative central banks, low and flat yield curves, this is all a backdrop in which emerging markets could perform well, considering stocks are only 5% off of highs, and credits are only marginally wider. shery: new zealand, thailand cut last week.
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has this come in at the right time or is it too late to stave off a slowdown? ashleigh: i certainly hope it is not too late, but you are seeing central banks using unexpectedly, or more than the market for predicting. mexico maybe the next one. way five basis points are priced this week that they could deliver 50. central banks are trying to be ahead of this growth slowdown. so far, they appear to be staving it off. amanda: we will leave it there, thank you, ashleigh hart. this is bloomberg. ♪
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amanda: this is "bloomberg markets." i'm amanda lang in toronto. shery: i'm shery ahn in new york. traders are watching for a possible inversion in the 2/10 treasury yield curve. one person keeping his eye on it is bloomberg columnist brian chappatta.
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we continue to see the treasury markets react to these events, including just the trade war news, hong kong uncertainty, and overshadowing the strong inflation numbers we saw this morning. >> the treasury market is dealing with a marriage of factors. that is why you are seeing the curve do what it's doing. on the short and, inflation data is coming in stronger than expected. that will keep the fed from cutting rates dramatically. then you also have easing trade tensions with the tariffs being pushed off. at the same time, you see the images out of hong kong. if you are a bond trader, you have to like 10 year treasuries as a haven play when you see this political unrest. amanda: if we go back to when damon was noting, you don't see 2/10 inversion without getting a recession historically, could it be different this time? the bond markets are so responding to factors that go beyond the central bank and the u.s. economy, that maybe it
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doesn't happen? --an: if it converts today inverts today and bounces back, i was not really take that as more of a recession, compared to what we have seen elsewhere. it may come down to the federal reserve and whether they decide we need to get ahead and cut rates further, even if the economy is still strong, if we see more cpi prints in line with today. rates, they set the front end of the curve lower. shery: i'm going to bring up this beloved chart of negative yields topping $15 trillion. if we continue to see the slow growth and inflation environment -- pimco now saying it is not absurd to think negative yields could come to the treasury market. are we talking about nearing that the japanese-ification of the market? brian: even alan greenspan said
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he does not see a roadblock to negative yields in the u.s. it is gaining some traction. my colleague things is is a classic bubble in bonds because everyone is rationalizing how negative yields can exist here. i think it's an open question. as i wrote today, it comes down to fiscal spending. that is the way that germany or the u.s. could get rates higher, by increasing the borrowing capacity, and giving the safe asset shortage of bit of a breather. reasons thisf the is possible is we keep printing money. is there a point at which confidence is lost even in the u.s. dollar? brian: i hope not, that would not be great. the u.s. dollar is holding in quite well now. the big question on everyone's tip of tom, is whether there will be an intervention on the u.s. side. president trump likes to say there is manipulation of currencies.
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obviously, the treasury came out and labeled china a currency manipulator. that is the question going forward, intervention. we have not really seen any sort forirect intervention just purely trade purposes on the u.s. side before. brian chappatta, always great to have your thoughts. a quick reminder, you can catch all of the interviews on the bloomberg with the function tv . from toronto and new york, this is bloomberg. ♪ from the couldn't be prouders
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designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you pre-order a new samsung note. click, call or visit a store today. mark: i'm mark crumpton. president trump says his administration has what he called a very productive call with china on trade.
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the president spoke to reporters before boarding a helicopter in morristown new jersey today. he said he thinks china would really like to make a deal. the ministrations that it will they until mid december tariffs on products on many holiday shopping lists. in russia radiation levels briefly reach 16 times normal after a failed missile test resulting in an explosion last week. moscow said the test involved a small nuclear power source. five atomic scientists reportedly were killed in the blast. in paris streets around the notre dame cathedral are shut down today so crews can decontaminate the area. high levels of lead were found following a fire at the historic landmark in april. cleanup work inside the cathedral was suspended last month for safety reasons. activists and residents have accused authorities of underestimating the threat of lead poisoning. hundreds of tons of

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