Higher, apparently because of reports the Chinese Government was buying less of them for its Foreign Exchange reserves. This comes just when the u. S. Treasury was going to have to be borrowing more to pay for this tax cuts. To take us through the possible ramifications, we welcome alex wayne in washington. Welcome. What do we know about this . Alex china indicated to us that they have less of an appetite for u. S. Treasuries. That could be bad for the u. S. In a couple of ways. Slightly already raised yields on u. S. Debt. 2 the Congress Just passed a huge tax measure is going to add 1 trillion and a half dollars to the debt over the next 10 years. If we have to finance that at higher prices, thats bad for the deficit and the debt. It also could have spillover effects like Mortgage Rates rising, for example. What happens if people start seeing mortgages maybe approach 5 , a level we have not seen in many years . Shery but china is very much deeply invested in u. S. Treasuries. Would it be to their benefit to try to destabilize healthy market . Alex no, it wouldnt. Thats the conundrum for china here. They might be able to slow their debt purchases a little bit, but they certainly cant selloff any large portion of their Holdings Without wrecking their own economy. At this point, the u. S. And the chinese economies are pretty much joined at the hip. I dont think they want to cause that bigger disruption in the u. S. Economy. It would hurt their own people in addition to us. David from our reporting, do we have a sense of whether this is business or personal . Why are they doing this . Alex i think there is a bit of a political element here. Donald trump has been very hard on china regarding trade. The campaigns balance he campaigned bowing to crackdown on china for unfair trade practices. Vince reaching office, he has laid back. He has not seen a lot of progress there, not as much as hed like to see. Recently he has talked about returning to that Campaign Style of going hard against china again in the second year of his presidency. This could be a little bit of a warning shot from the chinese. Move, sort of a primitive but still chinas purchases of u. S. Treasuries have in fact slowed in the past year. Alex right. We have been seeing debt yields rise a little bit, even before this news out of china last night. Its going to be interesting when the u. S. Starts trying to sell even more debt into a market that might not have quite as much appetite as there was in recent years. David many thanks to alex wayne, bloombergs white house editor. Alex thank you. Shery lawmakers are up against yet another spending deadline and their bill is tied up on the issue of immigration. Congressional delegation headed to the white house yesterday to discuss a possible solution, particularly on the future status of the socalled dreamers. Whoof the democrats attended the meeting is from texas and a member of the congressional hispanic caucus. We welcome him now from capitol hill. Congressman, thank you so much for your time. From your meeting yesterday at the white house, how close have republicans, democrats, and President Trump come to a compromise . We were able to narrow it down on the issues we need to security daca, border , some changes to chain migration and the diversity visa. Immigration reform that a lot of republicans want to deal with, thats a separate thing. Lets narrow it down to this area. We are supposed to go back and sit down again and work something out so we are waiting until we all can get together one more time and try to work this out. I feel optimistic coul will it. Will it be difficult . Yes. Will it be possible . Yes, it could be. David lets walk through three alternatives. One is that dr. In the water tied. A third is what you suggested is a fun even fundamental overhaulf immigration. A colleague of your says he wants. Daca. Erhaul before rep. Cuellar Immigration Reform will cover and let guestworker plans and other issues. Daca isow issue of one thing. Some democrats want to see a clean bill with daca and nothing else. Practically thats not going to happen. We can do daca and some sort of Border Security. What do we mean by Border Security . Wall . T equate a unfortunately the president and some republicans are equated. I live on the border and understand the border. A wall is a 14th century solution to a 21st century issue that we are looking at. Shery President Trump seems to be acting down a little on issue himself. He says it didnt need to be a 2000 mile wall. What do you think a physical wall would end up looking like at this point . Rep. Cuellar we certainly can look at fixing and repairing the walls that have been there. Some of those fences have been there since 1992 so we can work and repair that. Theres a thing that we call down in south texas that we agreed under the Bush Administration to do a levee wall. A wall ofu both build cement and put a fence on it. Therefore you have a dualpurpose. You provide Flood Control from flooding and then you also have security. There are smart ways of addressing this issue, but just to build a fence or a wall just for the sake of it because you want to keep a campaign promise, i dont think thats the most costeffective way of using taxpayer dollars. David lets talk about the cost for a second. Whether its a physical or virtual wall or whatever it ends up being, how much are democrats willing to pay for it . The president has put out a number like 18 billion for what he wants. Is. Cuellar the president talking about 18 billion for a wall or a fence. Lets look at the cost. The cost of one mile of technology, which i support, will be about 1 million per mile. One mile of the wall the president once it would be over 21 million. What this 21 million per mile by you . If you look at the latest gao report, they studied the wall and they found over a fiveyear period over 9300 times people were able to get over that will. Most importantly i want you to listen to this. I asked the Current Border patrol chief and the past Border Patrol chief this question. How much time does the wall by you . You know what they said . A couple minutes or maybe a couple seconds. If you are going to slow somebody down for a couple of minutes and spend billions of dollars, i think we need to be smarter. Look at what the military does in afghanistan and iraq. They use air stats and camera sensors and drones to secure the area. We have got to look at whats been tested, what works, and if it works for the military, a to work for us on the border. It can work for us on the border. David congressman, think you so much for being with us today. Rep. Cuellar thank you. Have a wonderful day. Shery we are seeing treasury yields continue to rise for a fifth consecutive session. Lets get a check of where we stand right now with julie hyman with the latest. Julie we get to treasuries and a second end of the peeking into the green led by general electric. The s p and the nasdaq remain in the red, breaking that succession winning streak we have seen for stocks here to kick off 2018. Its very much an Interest Rate driven story today as we see yields climb. That is definitely benefiting the banks. Jpmorgan, wells fargo, and citigroup all higher. Saying in animer interview with matt miller that they like financials and all the major markets. They should benefit from the increase in Interest Rates here. If you look at the tax picture for the banks as well, remember we have been talking about the tax hit that some of the banks are going to take here. Many strategists are saying its going to be shortlived. In the end, they will benefit in part from the longerterm effects of the tax cuts we have seen. Citigroup taking the biggest hit thus far, at least in their reported filings. Lets get to whats going on in the treasury market. We got the results of an auction here that showed demand relatively study here. We are seeing just the basis point increase in price today. 2. 56 as we have seen the selloff and some indications that china might not be as interested in u. S. Debt. Shery julie hyman, thank you. Coming up, nafta has been one of President Trumps favorite punching bag. Can the u. S. Really get a better deal . We will talk with one of the primary negotiators of the trade agreement, former u. S. Trade representative carla hill. This is bloomberg. David this is Bloomberg Markets balance of power. Im david westin down here in washington. Shery im shery ahn in new york. Lets get a check of the bloomberg first word news. Mark crumpton has more. Mark north carolinas congressional map has been deemed unconstitutional. Ruledl of federal judges that partisan gerrymandering gives republicans an unfair advantage in state elections. The decision calls for north carolinas republican dominated legislature to create a new landscape of congressional districts by january 24. A group of Voting Rights advocates rallied outside the u. S. Supreme court this morning. They gathered us justices heard arguments about efforts in ohio to trim their voting rolls by targeting people who havent voted in a while. Inwe have elected officials states like ohio that are making deliberate attempts to take that fundamental right away from our citizens here in United States. Mark opponents of the ohio process say federal law prohibits using voting in activity to trigger purges. A federal Appeals Court sided with the challengers, but during arguments today, Justice Anthony kennedy, usually the courts swing vote, said that states are trying to protect their voter rolls. Willis warning it reduce its level of cooperation with the Nuclear Watchdog if the Trump Administration fails to extend sanctions waivers by a midjanuary deadline. President trump decertified the deal on october 13 and is expected to announce on friday whether he will reimpose penalties against iran. Says news president rebel attacks have profit him to pull his chief negotiator out of peace talks with the countrys last remaining insurgent group. In an address today, the president condemned the attacks and said he is asking gestapo bell to return from talks in ecuador to evaluate the process. Representatives from colombias government and the National Liberation army were slated to meet today to discuss the terms of a new ceasefire. Global news 24 hours a day to howard more than 2700 journalists and analysts in over 120 countries. I am mark crumpton. This is bloomberg. Back to you in washington. David thank you so much. Chris will trade negotiators for the United States, canada, and mexico resume negotiations over nafta that are this month in the thateal with reports denied states may withdraw from an agreement if does not go there with. I spoke with tom donohue and asked him how worried he is about a possible u. S. Withdrawal from nafta. What is the risk that the United States will pull out of nafta . Tom much less than six month ago,. David why . Tom i think the people involved in this are getting a little more educated. David carla hills was responsible for the goo negotiations when she served under George Herbert walker bush. Its great to have you. Thank you for joining us. Carla its wonderful to join you. David you heard what tom donahue said. You think chances of withdrawn from nafta are going down . Carla i will be a better judge after the montreal meeting. m very concerned even if it were a small percentage of risk as tom just suggested, he has lowered his risk evaluation, the downside problem that would be created is so huge that im still frightens. Shery of course there are key issues at play right now, ambassador. Where would you see if there is any compromise that it could be reached between all sides . Where would that be . Still aontent rules are key issue for carmakers and other businesses . Carla its a big agreement and we would all loose, all three of us would lose if we were to pull out. What we ought to be focused on is how to deal with those Economic Issues that have developed since we were at the negotiating table and early 90s. We did not have digital flows and crossborder services and the kinds of things that people today. Lets focus on making it better, not tearing it up. David today. Has it been successful in your view . If you look at the balance of trade the tween the United States and mexico in particular, this is what President Trump focuses on. It has not gone in the United States favor. Carla i would disagree with that statement because i dont think that the bilateral deficit is what establishes a trade agreements success or failure. I have a deficit with my grocer. I have hopefully a surplus with my firm. For me not to buy from my current grocer, im not going to starve. I will go to another grocer. If we dont buy from mexico, we will buy from someplace else. What we really need to keep in mind is we are blessed with oceans on both sides and peaceful, friendly, helpful neighbors north and south. To attend that up and to poke tear that up and to poke the finger in the eye of our largest export destination, canada, our secondlargest is mexico. We sell more to mexico then we sell to all the rest of latin america. This is something we dont want to do. Trade a number of deadlines are coming up this month, including the i import probes on aluminum. Do we have a better grasp on where the Trump Administration is headed in relation to trade . Last year was mostly about deferring key decisions could how important will 2018 be . Carla its going to be a big trade year. For wanting tol address enforcement mechanisms. If a country is not abiding by an agreement, then we ought to address that. We have issues with china on so weectual property ought to be talking to them about it. My experience tells me we ought to do better by sitting down and talking about what your grievances are and how to fix them rather than it does by namecalling and threatening. We have been successful since world war ii. I think it was the Peterson Institute that said our gdp is more than 1 trillion higher by reason of our leading an opening markets since world war ii. We dont want to reverse that. David if you had your old job back and you were trade representative right now, you are laying out a strategy for the present. President. Would you draw from distinction between china on one hand and mexico on the other . When listening to President Trump, he wants them together. Carla with mexico, they are an incredible partner. Not only are they the secondlargest export destination and not only when the export to others, they have twice as many free trade agreements as do we. And they have a very high u. S. Content. That means they get preferential entree to 45 countries and we dont have trade agreements with 45 countries. We have 20. Its a big advantage that we Work Together in harmony both for economic reasons, security reasons. You know we share intelligence. That helps us on the border. You cant really guarded border unless both sides are collaborating and we are both with canada and mexico. So we have a special relationship. Now with china, the secondlargest economy, we want to work with them. Its a fact that our Business Leaders complain that there are problems that we need to address. Well lets set down and talk about them and figure it out. I happen to believe that a bilateral investment treaty would be a very good mechanism to make both china and the United States smile. David so theres an agenda for you. Ambassador carla hills, thank you so much for joining us today. Carla always a pleasure. David still ahead, confronting our new nuclear reality. We will hear from my conversation with the former Energy Secretary and key negotiator of the Iran Nuclear Deal about how the threat from iran compares with a ratcheting tensions on the north korean peninsula. This is bloomberg. David earlier this morning, i stuc spoke with dr. Ernest moneys. I asked him how President Trumps decision to decertify that deal could affect our agreement going forward. Ernest what we are hearing is that the president feels that with these protests going on that he will be hardpressed to waive the sanctions, which are required for the deal. Many of us believe, very many of us believe i might add, that this is exactly the wrong reaction. What the iran agreement has done and what now the protests have done have cast a light on frankly the internal problems that that country has in terms of its governance, in terms of corruption, in terms of how its Economic System has worked, how the population is served or not served by the current arrangement. Now weiolate the deal just put the spotlight back on us. We would be the ones not compliant with the deal and it provides every opportunity for accusing again the United States as the origin of all the problems when in fact they are not been able to get their act together frankly in the current governance. David iran presents one Nuclear Situation that you dealt with in government. North korea is another one. Give me a compare and contrast of north korea and iran. How did we miss the fact that north korea was making such remarkable progress toward Nuclear Weapons . Ernest first of all, in terms of the comparison, we just have to remind ourselves of the basic fact that iran does not have Nuclear Weapons. We have a verifiable scheme in place to make sure thats the case. North korea does have Nuclear Weapons obviously. That is one point. The second point is that i think there was a consistent underestimation of their dedication to developing this capability, a dedication that the current leader has accelerated dramatically beyond what his father and grandfather did. David that was dr. Ernest moniz, former Energy Secretary. Shery coming up, billionaire activist tom steyer will join us on his 30 million push to boost millennial voters turnout in this years midterm elections. This is bloomberg. This is Bloomberg Markets balance of power. Is get a quick check of the major averages. U. S. Stocks are being pressured today. The s p 500 is curving six days of gains. Prices remain resilient with it above 65 a barrel. The dow is Holding Steady at 25,000. Take a look at the markets. We have seen treasury yields rise for a fifth session. Sources are saying beijing recommended curving purchases of u. S. Treasuries. The 10 year yield flirting with those highs that we have not seen 2014. The dollar is retreating from three days of gain. The japanese yen, strong, another day of gains. Short positions after the boj purchases of ultra long dog. For now, let us get the headlines with mark crumpton. President trump continues to reacts to a recently published book that criticizes his administration an interview to negative quotes about the first family. At a Cabinet Meeting today, the president said he believes american libel laws should be adjusted. Pres. Trump our current libel laws are a sham and a disgrace and do not represent American Values or american fairness. We will take a strong look at that. We want fairness. You cannot say things that are knowingly false and be able to smile as money pours into your bank account. Mark the president went on to say that the law should provide recourse in our courts. John brennan says he is surprised by the lack of public outrage in the u. S. Over russias alleged meddling. He made a comment today at an fbi Cyber Security conference. He says he has urged congress to pass a law requiring the fbi and cia to provide reports on interference in advance of upcoming elections. Catalonias two main proindependence parties want the ousted president to serve a second term in office. He remains in exile in belgium but could be sworn in remotely as he tries to mount a new challenge to the spanish prime minister. He faces arrest if he returns to spain for illegally attempting to declare Catalan Independence last year. Malaysias government says it will pay the texasb base Ocean Infinity if i can find the withine of flight 370 three months. The transport minister said there is an 85 chance of finding the debris and a new search area, roughly the size of vermonts, that was identified by experts. The plane vanished march 8, 2014 with 239ing to beijing people on board. Global news 24 hours a day. Powered by more than 2,700 journalists and analysts in more than 120 countries. Crumpton i am mark crumpton, this is bloomberg. That to you in washington. David thank you very much. Activist tom steyer is waving a highprofile Campaign Calling for President Trumps impeachment. Monday, he announced he would not run for Public Office this year. He is putting laser focus on this years midterm elections hoping to usher in work democrats to the house of representatives. I am putting 30 million behind next gen Americas Program to unleash the full political power of young voters. They are now the largest block of eligible voters in america capable of swinging elections on and theyre horrified by what is happening in washington, d. C. David let us talk to the man himself. Mr. Steyer is with us now from san francisco. Some of us were a little surprised. They thought you might announce for senate or other office. Take us into your thinking. How carefully did you study this . Did you actually take a look at what the chances were you might win an election . Tom i said throughout 2017 that in theoing to do organization was going to do what ever it was that would have the greatest positive difference in trying to move america back to a just and prosperous future. I kept saying that. I think people thought that was some sort of double talk. The fact of the matter is the things i said on monday that we will be doing, that i am going to be doing which is organizing and mobilizing young voters, doubling down on the need to impeach campaign, trying to provide a voice for progressives are things that there is nobody else really trying to do. Whereas i believe in california the kinds of offices that i could run for have reputable, responsible, decent candidates. I do not know exactly who they all will be but i am highly confident that is true. You think about making a positive difference. I believe what i am doing and is doingorganization is the best chance for us to stand up and move the country back with a group of other people to a much better way of thinking about the future and a much better chance for america. David that is a very specific goal of a just and more prosperous america. Give us the means to get to it from. Is that by changing the house of representatives from republican to democrat . Changing the senate . Impeaching the president . Was the quickest route to that goal . What is the quickest route to that goal . Tom first of all, we said we will organize our youth mobilization effort around the need to flip the house. We are already in 10 states on the ground trying to register, engage young voters. That is the organizing principle. In those states, those are highly contested congressional districts involved in states that have many races. When you talk to voters and get them involved and encourage them to go to the polls, they do not just vote for congress. They vote up and down the ballot. What we are talking about doing is having a broader democracy with much better participation by the largest age cohort in the United States, bigger than the boomers. Traditionally turnout is a fraction of other voters. Let us have a broad democracy. The answer to our problem is more small d democracy. David did you go district by district . I am interested in the methodology. Are you going district by district, and how are you picking the districts you want to target . Tom i think it is easy to see by looking at history two things. Where there were close races but where there were close races, particularly where mrs. Clinton won that district. In california, there are seven districts where she won the district but a republican congressperson was elected. That is a first cut. I am thinking about where are the competitive districts. I think it is also true if you listen to what i said on monday and what i have been saying all rogue andhave a dangerous administration and we need to double down on the need to impeach campaign. We felt from the beginning the president met the criteria for impeachment, he is dangerous to the american people, and we want to enable americans to have a voice and to build that voice so elected officials have to listen to the people in thinking about their job. David as you and i have talked about before, those two things are very much connected. The impeachment bill has to come out of the house. Howre those connected in your new efforts, or are they connected . Are you looking at areas where you can get candidates who would favor your request for impeachment . Tom we are not. We see one is a campaign specifically and the other is on the ground mobilization. This takes a long period of time. We have worked on those grassroots organizing issues for years and presumably will work come. Se for years to the way theyre connected as we see 2018 literally as a fight for the soul of america. It is that stark. We believe there are two shockingly different visions of a kind of country we want to be, of who we are, and how we should proceed. We want to make sure in every part of this that case is made. That there is a positive way to proceed that is inclusive and recognizes the dignity and rights of every american and builds towards a prosperous future, built on sustainability and inclusiveness. The other side is the opposite. Al we think with this administration is doing is 100 wrong. We could even talk about things that happened today were you just shake your head and go, are you kidding me . Those are your values . That just stinks. Odds . What are your you have done this analysis. What do you think the likelihood is of the house going democrat in november . Tom i actually see this differently is making odds as an investor. I spent 35 years thinking about it that way but i see this completely differently. When i say it is a fight for the soul of america, you do not make a bet. You put down your flat for what you believe in and you do not sit there and think, isnt going to work or if it is not going to work is not going to do it, we are going to do it because we have to do it. I do not think of it in terms of other likelihood or is it going to work, i think about we absolutely have to do this. I am not interested in the college try. I am not interested in the odds. Im only interested in succeeding. David and what is success . Does the house have to go down . Or if you get more moderate republicans, is that enough . Tom i would like to say that is enough, david, but the fact of the matter is unless there is a in the dysfunctional and proceedright, we will down a divisive and destructive road for our whole country. Toning is the only way change washington, d. C. Element of this president is the only way to change the values and culture he is trying to push on our country great from my standpoint, no. I reallyabout wish we were in the traditional america where we changed shared the same values and compromise. That is not where we are. That is not what the republicans have done. That is not on the table. I only wish it were. Is this of the matter is a fight for the soul of america and we have to win that fight. David thank you so much. A great insight in your thinking. Tom thank you so much for having me. David great to see you, sir. Shery coming up, jerry haynes, senior political strategist, has his outlook for washington politics this year and how he could impact markets next. This is bloomberg. Shery this is Bloomberg Markets balance of power. David with that tax overhaul behind them, Congressional Republicans are turning to what they want to try to get done this year. A senior political strategist has inside into that. Insight into that he is considered one of the most experienced Political Consultants in all of washington. Good to be here with you in washington. , they got a lot done as it turns out. They got a lot done, as it turns out. Is there any room left . There is good news and bad news. The good news is what investors will see is a lot of market ups and downs as they try to get things done. I do not think there will be any major legislation. I am pretty bearish on infrastructure, for example, a something that will not be bipartisan and does not have the money available for it. You will see a lot of other things. You will see deregulation continue to proceed. You will see the impact of the tax laws start to kick in and things like that. We still consciously positive about trade overall. I think the fight between the pragmatic trump and populist trump, the pragmatic trump will win out but there will be anxious moments. Trade will be a difficult issue last year, they delayed most of the difficult decisions and said they will study the challenges. This year, it is crunch time. Terry i think that is true. I think there are a lot of things that will happen in the 2018. Quarter of they will increase volatility in sectors and industries that care a lot about trade. Agricultural retail and others. You will have the nafta negotiations continue over the next few months. You will see decisions made here over the next weeks, i think, into whether specific industries, steel, aluminum and need tolly others, have special protections for National Security reasons. You will see specific terracing issues, as well. Therell be an awful lot entree that comes out in washington for the first time in decades. David talk to us about nafta. Reporting is saying that the position is a pretty extreme one, according to that canadians and mexicans. It doesnt seem like he giving himself a lot of exit room. Why are you more sanguine . Terry the Trump Administration is about signaling. None of the signaling so far indicates that they are moving toward that. Number two, i think it is important for investors to understand that what you will largely folks is thirdparty. The negotiation positions in all three parties are classified. Thirdly, we are in the sixth of nine rounds that go through this. Will not get we will not get a resolution before march of the earliest and we know that the Trump Administration told Congress Last fall they would not see anything before march. This is a long way to go. Shery was china firing a warning shot toward the u. S. In the news that beijing is thinking of curbing u. S. Purchases . Especially with the tax cuts coming. Terry we have seen those reports. We are not fully on board with them, let me just put it that way. What we think is that china will be a reactor rather than an actor to this. We think the chinese have not sent out any signals at all indicating they might do this. We think any chinese reaction would probably be more targeted following what we think our United States actions, which themselves will be verily targeted. Both parties understand the targeted backandforth nature and we doubt either one will move into a broad trade war. David we have those target actions almost sitting at the president s desk. 232, thingseel, like that. About heour thinking will say i have a clear shot and go after china . He is trying to preserve manufacturing capacity in the United States. This is why i am specific as you are to say this is a National Security matter. They look at it through that particular prism. That is number one. Number two, you see targeted harassing actions in response to any dumping issues. Those have been going on more frequently since the late obama administration. They are being looked at differently by markets in the context of this new aggressive, between the lines trump trade strategy but they are not any different. They would have been happening if Hillary Clinton was president , for that matter. Most of this is going to be targeted. We think what the administration has been signaling is they will continue that target. Shery just quickly, finally on the midterm elections, how convinced are you we could see a democratic way of this time around wave this time around . Terry i respect that possibility. At the same time, i think democrats have more of an uphill climb than anyone thinks. The easy way to express this is they are a small there is a small majority in congress. Democrats can make up 20 seats and two seats in the senate. The better way to look at this is understanding the vast majority of seats up in the senate are democratic seats, many of them in trouble areas. The democrats themselves have a lot of seats they need to hold. It is not just a zero sum game. They have a long way to go. David a long way to go. Nes, thank you so much for being here. Shery President Trump will be joining the whos who of business at the World Economic forum leaders. What will his message be . This is bloomberg. Shery this is Bloomberg Markets balance of power. I am shery ahn in new york. David i am david westin in washington. The white house surprised the business and political world yesterday by announcing President Trump will join the World Economic forum in switzerland. This is the first time an american resident has been at the meeting since bill clinton, 18 years ago. Here is bloombergs washington correspondent here with me. What is he going to face . The president will see a very skeptical audience. Obviously, the president campaigned on being a populist and an America First president who derives this idea of wealthy people have gathered in the house talking about localization. The America First message over to davos but he may have things they may like as well. Tax reform, deregulation, Business Leaders and other countries might like what he has done thius far. Potentially taking on iran and north korea and really having the bellicose language. Those of the types of things that scare International Investors and world leaders. It could be a very interesting discussion of the president will have with some of the leaders he will see the. There. Shery do we have details on the date he will be going . Who is he taking, who is he meeting . Toluse we do not have specific details on the dates. We are starting to hear more about who is going along with him. He will take a number of his cabinet officials, including wilbur ross, the commerce secretary. You can also expect gary cohn and steve mnuchin, a couple of the top economic advisers for the president , to also be there as he travels to davos. Those details are going to start to come out over the next few here will be intense interest in what the president will say and who he will meet with when he gets to switzerland. You can stay tuned for more information about that. David do we have any sense of why he is doing this . I am not a where that he is a big skier so what is he trying to accomplish . Toluse the skeptical, cynical version is he wants to be in the news. The president does not want this event to take place without him being there and dominating headlines. By going, he will become the biggest headline there. For a president who watches a lot of tv, this will be a way for him to dominate headlines. He wants to advocate for his policies, american companies, and really take a bit of a victory lap. Bille has a tax reform with a lot of deregulation and a lot of things he has done on the world stage that he can talk about and really sell to the world stage later this month. David i hope this means you get to go. That would be good for you. We want you to sign up for balance of power newsletter at bloombergpolitics. Com. Get the latest on Global Politics in your inbox every day. Shery coming up, President Donald Trump will hold a joint conference in the east room today. We will bring you that live at 3 00 p. M. Eastern, c do not want to miss that. You can catch all of our interviews on the bloomberg with the function tv. You can also find breaking news charts. This is bloomberg. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Julia i am julia chatterly. Welcome to Bloomberg Markets. Scarlet we are live and World Headquarters in new york over the next hour. The top stories were covering. Market mania. With a strong start to 2018, we speak with investors about the five areas he thinks might cause the record run to continue. A busy day for President Trump as immigration debate hs heat up. Plus, the kodak moment for the ages. We speak with jeff clark about his companys market moving lease into cryptocurrencies. We havet u. S. Markets closing andwo we have u. S. Markets closing in two hours. Rally be a fiend to kickoff the year, we are seeing the pause activity. The dow
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