It is 1 00 in new york, 6 00 in london, 2 00 a. M. In hong kong. Im shery ahn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. Two more trading days in what has been a blockbuster here for equities. While the euphoria last into the new decade . China takes another step to liberalizing its financial system, ordering lenders to adopt a new pricing regime. It is still early days in goldmans push to bank middlemarket companies but it is making progress in one count. Rating talent from rivals. Whats get a check on the market with kailey leinz. We are almost done with 2019. Kailey two trading days left. We are a little bit softer, invt easy. Right now, the s p is lower by. 3 , as is the dow and nasdaq, all of this on lighter volume. Even as stocks are lower, so our bonds. The 10year yield looking at 1. 9 . That is leading to a bear steepener money look at the spreads between longerterm yields and the 2. The spread now at 33 basis points, the steepest the curve has been since october 2018. What were looking at in the pink, this is happening in tandem with the feds balance sheet. Now about 4 trillion. It is contributing to this steeper curve. As for movers on the day, lets gs space. Ok at the ri airstrikes in iraq and syria are spikes. All rowling more than 8 on those increased geopolitical tensions. Not rallying today, lets look at social media companies. Facebook and twitter are down by about 1 today. They have seen some significant rallies this year, so we may be seeing some profit taking. Pinterest also lower by 2 . That stock has lost about half of its value since it peaked. Shery thank you for that. For more analysis, we have miller tabaks chief Market Strategist matt maley. Great to have you with us. We have seen some Downside Pressure today, but the past rally this month has been pretty steady. What does this spell for 2020 . Matt no question, todays pullback, no negative news. Up almost 30 on the year, 12 in less than three months. I think it is people taking a breather from buying rather than any selling going on. The one thing i worry a little bit about is what will happen next year, i think we have stolen some of next years gains in this last most recent leg of the rally. This years Earnings Growth has been basically zero, although good in the first two years of the trump election cycle. When we had zero Earnings Growth, and next year, people , and theng for 8 , 9 consensus is always too high early in the year. That tells us we are going to get something in the midsingle digits. Is that enough to give us the same kind of early next year . In very much reminds me of what thisned we have not had much of a rally in the first two years of a presidency since the first george bush. The market rallied almost the exact same amount the first three years, and then the fourth year, the market did nothing. A littlet will be harder to make big gains next year. Shery what happens to the fx markets . We have not seen sharp moves in the equity markets recently, but that is a different story for the dollar. We continue to see it under pressure. The bloomberg showing how investors are now turning less bullish on the u. S. Dollar. What does this spell for next year, if we continue to see the Downside Pressure on the dollar . Are u. S. Assets going to be as attractive . It will depend on the assets. Some of the Multinational Companies will be helped with their Earnings Growth. Had a tough time this year lagging behind the rest of the markets. I do think in the overseas markets it will work very well. Emerging markets being the most obvious. The inverse correlation between the dollar and emerging markets has been very strong over the years. As the dollar has weakened over the last couple of months, emerging markets are starting to break out. You mentioned the dollar. It is kind of at a key level. Broken below its trendline going back two years. If it breaks below 96, that will confirm the upward trend in the dollar has rolled over and reversed. I also want to look at commodities. The inverse correlation with commodities is strong. A lot of people talk about the strength in oil, copper prices have moved up, but it would be healthy for the entire commodity sector, which is good for emerging markets. It could be an important move next year because that would be a big change in some of the groups that people want to be in. Shery talking about commodities, oil has gained any ground. Oil stocks have lagged. This has been happening for quite some time. Can we see this trend change in 2020 . Matt this could be one of the biggest ones. People are turning more constructive on oil. Two months ago, everybody hated the Energy Stocks, nobody owns them. It was a great group. The same thing with the bank stocks. A lot of people did not like them but owns them. Crude oil has been acting ok but the Energy Stocks have been lagging badly, not just the stock market, but the underlying commodity. Oil doesnt have to rally a whole lot more. West texas intermediate staying above 50, any rally at all, this group will have to play ketchup. Is under owned, those Institutional Investors have to flock to the group. Need a huge rally for that to take place. Shery we have seen that in consumer stocks, especially in the last part of the year, with the news that the shopping season had been great. Amazon breaking its 200day moving average. Will we continue to see this in 2020, signs that the consumer stays healthy, but for how long, given the Business Investment is not rebounding . Matt one of the things that we will find in the next earnings cycle is guidance from some of these companies, have they really picked up their spending . Is this phase monday of going to be enough for them to increase their spending . Im not sure that will be the case. The other thing is the stock market. Im not looking for a disastrous bear market, but remember what happened to Consumer Spending in 2018 in the fourth quarter, when the stock market dropped almost 1 . Consumer confidence fell off a cliff and spending pulled back. My point is, consumer confidence, spending is tied pretty heavily to the stock market. Get further gains, that could cause problems as well. Kind of a sofa filling prophecy. Shery great to have you with us, matt maley. His outlook for 2020. Former u. S. Treasury secretary Larry Summers says he sees a better than one in three chance of a u. S. Recession by the end of next year. He urges the Federal Reserve to continue to tilt Monetary Policy toward preventing that. Basak spoke to him earlier in october. The geopolitical overlay with the u. S. China conflict, sense of new instability in the middle questions raised by an increasingly erratic united , the geopolitical risk premium isnt that much in markets, but it is very much in Economic Activity and business spending decisions. Chill andlated to the a sense of a risk of a slowdown. That is exacerbated and made more serious the blackhole with countriesc that have zero Interest Rates, seemingly unable to escape from , with growing concerns about the longterm toxic side effects of zero Interest Rates, and with a sense that those parts of the world, like with united states, industrial world, not at zero Interest Rates, are one down turn from zero Interest Rates. Set then you spec expectations for me for a u. S. Recession . Will ilook like, who will be most impacted . Bloomberg estimated with some model that you are all proud of, that there was a 20s percent chance 20 chance within the next month of a recession having started. That would correspond to about 835 chance of a recession having started by the end of 2020. That feels in the neighborhood of right, perhaps slightly optimistic relative to my guess. You have the prospect of a decline in confidence as people start to see a recession, and that becomes a self fulfilling spendingas they reduce , a sense that policy authorities cannot do a lot it. T if that comes, given how low Interest Rates are. I think you have more of a threat to the American Economy from what is happening globally with rising concerns about europe, europes difficulty in maintaining momentum with the still uncertain effects of with the sense that the future of the chinese economy is rather unclear from here. Shery that was our interview with former treasury secretary Larry Summers. China announces the second major step in its program to overhaul Interest Rates, regimes and its banking system. Those details are next. This is bloomberg. Shery this is bloomberg markets. Im shery ahn. Now to some breaking news. The wall street journal reported that chinas corporate espionage is larger than previously known. We are seeing hp shares dropping to a session low. The story says chinese hackers used Service Providers such as cgi, ibm. The report also says Hp Enterprise has been overrun by hackers. The dow jones coding hp, saying the company has worked diligently to remediate the intrusions, but we are seeing hewlettpackards stock falling. 7 , as much as 1 on this story that its been overrun by chinese hackers. China, the country took another step toward liberalizing its financial system. The countrys central bank ordering lenders to adopt a new loan pricing regime for all credits, marking an end to the previous benchmark. Joining us now is peter coy. Ourme just explain to viewers what the pboc is trying to chew. This chart on the bloomberg showing how they are trying to get rid of that white line, which is the oneyear benchmark lending late. Then they want everyone else to follow the red line, which is the loan prime rate at which is 20 basis points lower. What does this effectively mean . Lori in the short term, Interest Rates, but they are trying to move toward a more market orientation of Interest Rates. China has had a problem, in the Interest Rates have been administratively set. Even when they try to use Market Mechanisms to free up credit repos atepos, reverse the short end of the market, they found it was not losing longerterm rates because they were linked to this oneyear lending rate. Rather than keep lowering the rate, lets just get away from that regime, so that the loan prime rate is more of a market step rate, in that it is supposed to be the rate offered by the 14 biggest banks to their prime customers, like the prime rate in the u. S. Itself is not completely market oriented come in that it is connected to another medium Lending Facility of the pboc. But it is a step in the direction of liberalization. Shery how difficult has the job in for the pboc lately . We are seeing inflation surge because of pork prices, they are battling african swine fever. Wherehart showing you pork cpi has just skyrocketed. How difficult is it for policymakers in china . The pboc has the same problem that the bank of japan, Federal Reserve has. You always have the question, did i look through this, or is this being built into the overall Consumer Price . Pork prices are shooting up now, but will they continue to, or is this just a transitory effect that we can afford to ignore . Same thing with oil. In the u. S. , we talk about cpi with food and energy, or core. China is going through that. How tight to they want to get . If they get too tight to fight inflation, they could hurt growth. Your going back to liberalization of the financial markets, we see these measures. We are going to allow more Foreign Companies to come into the market, allow them to do their own business. Are we seeing clear signs of that is where they are headed, and how much pressure is u. S. Playing into this . Peter there is the new opportunity for Foreign Companies to set up 100 owned operations in china, life insurance, asset management, investment banking. But they are not all season on the opportunity. Some are saying we feel more comfortable with a local partner. In some cases, they move from a minority ownership to a majority ownership. But when i look down the list, and bloomberg has a good story on the wire about this now. N most cases, i can go through axa. Alliance, choosing to go with fullfledged ownership. Citigroup is choosing to go 100 ownership on investment banking. Ubs, jpmorgan, or go with a majority stake. Everybody is sizing up the opportunity and the risk differently. Shery its a huge market but the risk, the Chinese Government is pulling the strings. Peter coy, thank you. Our economics editor for bloomberg businessweek. Goldman has been shopping for bankers from competitors in recent months. What they are trying to achieve next. This is bloomberg. Shery this is bloomberg markets. Im shery ahn. Goldman sachs is making a push to provide banking for middlemarket companies and getting talent from rivals to do so. They have hired more than a dozen managers from competitors in the past few months. To break it all done for us is sonali basak. Why do they even need to do this . A rowis a third year in that they are number one in mergers and acquisitions, well over 30 market share. Last year, the average deal volume was 2. 6 billion dollars. The reason they were number one is because they didnt just work on the big deals. They also worked on small deals. You can also get higher up in the tables by working on the whales, but the smaller deals of the world is what rights steady revenue, if those big deals are not happening. Shery every bank coaches talent from other banks. Is there a reason goldman is doing this right now, so focused on this area . Some firms have focused on the middlemarket for a long time. Jpmorgan has a big commercial bank. Wells fargo has focused on this throughout america. Goldman is poaching from areas that you would not think of. Raymond james, lincoln international, places that focus on the middle market. Goldman is hoping to find bankers were with the big firms. The big dealmakers know those that they cover, and now they are trying to get more Friendly Faces for these firms. How big is the team already . Sonali 150 people. For a while, they were also focus on private equity firms, which tend to go for smaller deals. The big, strategic six and dollar merger. As goldman focuses on private equity firms, this pairs well with a strategy to go through with that. Shery what are we expecting from goldman in terms of what types of people they are getting from these firms . Are there some double names that we could talk about . Sonali one of the interesting things about this strategy, you have some of their biggest dealmakers we interviewed dusty phillips, the cohead of their m a, telling is a story about last year how he found himself at a gas station you coheadot think about the of m a running across america chasing smaller deals. But even a top ranks are focused on this, and that chose to shows you how intent they are on making the strategy worked for them, even though goldman has been known for focusing on largescale deals. Shery two they even need to work this hard . When it comes to market share, the top three role. Sonali one concern is how long these megadeals continue. This year was shy of a record, one of the biggest deals ever for m a, and we went through everyones fears, but those fear still exist that the deals could slow down once politics get involved. If the market starts to turn , executive will not be as willing to do these megamergers and you been seeing. Especially given the democratic rhetoric could get tough around the election year. What are these people watching out for . Sonali health care and technology were some of the biggest places where we see dealmaking. Those are two other places also that Elizabeth Warren is looking directly at. The stock market is worried about it, dealmakers are worried about it. The question is whether that will clamp down on business making. Interesting, thank you so much for the latest on dealmaking and Goldman Sachs poaching. Mike pompeo goes to ukraine. More on his support for the embattled nation. This is bloomberg. [ dramatic music ] this holiday. Ahhhhh ahhhhh a distant friend returns. Elliott. You came back and while lots of things have changed. Wooooah woah its called the internet. Some things havent. Get ready for a reunion 3 million light years in the making. Woohoo yeah ritika im ritika gupta with bloomberg first word news. In new york, federal prosecutors have charged a mantis tested of a multiple stabbing during hanukkah celebrations. Officials say a man burst into the home of the his sitting rabbi saturday night and wounded five people with a large knife. Governor cuomo called it an act of domestic terrorism. The suspect faces five charges from obstructing the free exercise of religious beliefs, attempting to kill with a dangerous weapon, and causing injuries. Sign that u. S. Economic growth is holding up at the end of the year. The merchandise trade deficit narrowed for a third month in november. The u. S. Typically runs a deficit in merchandise trade and a surplus in services. Phase one of the trade you between the u. S. And china will be signed in a week or so, according to white house trade advisor peter navarro. He says the agreement is still being translated. A chinese newspaper says the device. Will lead a delegation to washington to sign the deal. Vladimir putin called President Trump to thank him for intelligence of help event terror attacks in russia, according to the kremlin. The leaders discussed further cooperation to fight terrorism and other matters. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im ritika gupta. This is bloomberg. Shery live from bloomberg World Headquarters in new york, im shery ahn. I am greg toronto, in for amanda lang. Shery secretary of state visit ukraine this week in his first trip to the country in the heart of President Trumps impeachment. Still drowning in gift wrapping. We will explore what happens to your holiday trash and how the recycling industry is encountering tencent turbulent times. Roll off thelas Assembly Line in shanghai with plans to ramp up fast. Quick check on the major averages, we are seeing a bit of selling. Second to last trading day of the year. A great your overall if you have been long in the markets. Coming off the lows of the session. Keep in mind, volume is like. The broader market, s p 500 down nearly half a percent. The nasdaq, the biggest percentage wise. The nasdaq alone up 35 this year. Here in canada, we have some winners and losers of the canadian stock market. Some tech names have looked good, some pot names that have not looked good. What a run they have had, sort of a sleeper hit in canada. Shop of five, or one of our tech darlings. Think about the cannabis names, aurora down 63 . Hexo, 55. This was the first, the first calendar year of Recreational Marijuana in this country, and those stocks have been chopped more than in half. Investors not really believing about the marijuana space yet. Seems at least of funding squeeze we saw in the u. S. With turbulence in the repo market seems to be easing. We had a new york feds operation, talking about the term, one day forward settlement actions on both under subscribed. Not surprisingly have seen the last series of actions, injections of cash to mariko operation operations pretty under subscribed. We are talking about the fed injecting 240 billion into the system to avoid that potential cash crunch at the end of the 340 out of a maximum billion that the fed has already offered. We will see a further 150 billion in fused to the final ordinary overnight operation of to year, but so far it seems be smooth sailing, repo operations under subscribed, perhaps indicating that everyone has enough funding. Lets get an insight on what markets will look like in the new year with a former fx trader, vincent cignarella. Marketnce in the repo was something we did not expect in 2019. What are the lessons we are taking 42020, and what unexpected things could we find . The lessons you take are not to get too worked up over certain issues. The fed came in and solve the situation, as they have a want to do, being the lender of last resort, supporting the market. The banks found other ways around it as well. Then you have this broad selloff in treasury toward years and, so there is not much demand for treasury bills and bonds. 2020 is going to be an interesting year. I think that we are going to see is a shift from looking at central banks, not just the fed an ecb, looking at the pboc, and seeing what they will do to support the overall basic markets for demand in china, how that affects the emerging market. Most people betting the dollar falls next year and emergingmarket currencies will gain. A lot of that will ride on what china and the pboc does. Greg you mentioned the fed as the lender of last resort. At the same time, criticism that eye onid not have their the ball, we saw some problems in the repo market. Even though they wrote to the rescue, they did not see it ahead of time. Not been ined has that market for a better part of 20 years, ever since greenspan came in and started to tweak Monetary Policy by choosing to move the fed funds rate, or target the fed funds rate, and then the over market overnight Market Operations took over, doing repose, reverse repos, adding liquidity on a daily basis. The fed was a little rusty and out of sorts. They were certainly surprised. All things being equal, they were up to the task. Shery when it comes to the pboc, they seem to have things under control, just overhauled their loan regime. This chart showing how they are trying to get rid of that one year benchmark lending rate and now all the other banks are following the loan prime rate, 20 basis points lower. Is this an effective rate cut for china, and what does that mean for markets . Vince its a small rate cut but has a limited impact on domestic borrowing. The industrial sector is already below that rate. They are the state owned industry, they get a cut. A lot of the other credit that has been extended to states and cities has already been below this rate. There is a worry of bankruptcy. The real estate sector will not get any better from here. What will benefit is the consumer. There is a very good correlation imports and the china credit impulse, the supplier of money into the gdp. As that impulse gains, as there is more liquidity added, imports rise. What we will see is the Chinese Consumer will benefit from the central bank wanting to stimulate domestic demand and perhaps moving away from the export driven economy. More of a balance in 2024 china. Greg thanks to vincent cignarella. Ukrainepeo arrives in today to voice support for the embattled demand and perhaps moving away from the export driven economy. Nation, a message muddled by the Impending Senate trial against President Trump. Joining us now is our senior washington editor. One of the things that we will be watching in 2020, investors, geopolitical unrest. We have not talked about ukraine in a while. Of state is the highestranking u. S. Official to meet with ukrainian officials since the july 25 phone call between President Trump and president zelensky that was at the center of the impeachment inquiry. Pompeo is emphasizing that a key strategic interest of the united states, that the u. S. Wants to support the ukrainian government, which is under siege in the conflict with russia. This situation continues to have some conflicting notes in it, in that the president s personal lawyer Rudy Giuliani was in ukraine just earlier this month trying to continue to dig up information about the Conspiracy Theory that ukraine rather than russia interfered with the election, whether there was some corruption going on with the president s chief rival in 2020, joe biden. There continues to be this confusing mixed signal set by the u. S. To ukraine. During the inmony patient inquiry suggested that he realized he had no control by rudys side effort giuliani and others in the administration, and is attempting to run a middle path without angering trump, while trying to provide u. S. Policy. Tohas a lot of work to do try and straighten things out, put the u. S. Ukraine relationship on solid footing. Shery while he does that, what does he need to avoid to not provide more fodder to the president s critics, when he forelf is facing criticism allegedly naming the whistleblower in one of his retweets. Pompeos standpoint, it is basically staying out of trouble, staying close to the official line. The president , however, continues to inflame the situation, battling against democrat to have impeached him, and he will be facing a senate trial sometime in the next month. Really overshadows a lot of these issues. It will be up to pompeo to keep the peace as the u. S. Deals with both russia and ukraine and the entire region really. Korea wasously, north i dont want to call it a pet project, but he focused a lot of attention on it. That seems you have gone by the wayside. We went through the holidays with this threat that north korea would launch a strike. How does that situation start to evolve . We will find of the new years day message that is scheduled by kim jongun. That will indicate which way he sees the relationship going. There is a lot of concern among u. S. Officials, experts in the region, that hell be taking a. Arder line as the year has gone on since the february summit between trump and kim, the north koreans have continued to develop their weapons programs, have tested e the solid engines missile engines, could be that he is announcing a further test of a missile that could hit the u. S. , or of another more advanced moorehead. But there are some intermediate. Teps in between that that, ate calculating this point, President Trump may be your for a deal going into his election campaign. Also, if trump should lose the elections, he is not going to have any easier time with the , all ofic candidate whom are pledging to get much korea, on north criticize President Trumps approach to the issue. There is a lot that will be finding out come new years day. Shery thank you, will be watching closely. Coming up, as the holidays come to an end, you may want to think twice before throwing out and wrapping paper. A look behind the economics of recycling. This is bloomberg. Shery oomberg markets. Im shery ahn in new york. Greg im greg bonnell. Time ofe most wonderful the year, almost the most wasteful as well. Americans generate 25 more waste on average between thanksgiving in new years day, but watch much of what is known away can be recycled. Joining us now is an Industry Leader in recycling and nonhazardous Waste Disposal in the u. S. Thank you for joining us from phoenix. I find this story fascinating. At least in canada, they have done a good job getting us to carefully soar through our trash, and the idea is we are doing the right thing. Once we put it in recycling, it gets recycled. But the economics of this industry are changing. How big of a challenge is it for us do the right thing with our trash . Considerable challenge right now from an economic perspective. The truth is, most recycling programs across america are upside down economically. The reason for that is the contract was originally set up that a point in time where there was a tremendous value of the recyclable material brought to market, and the price that the , wasmer paid, the resident on average nationwide about three dollars or less. Almost approaching free. Over the past two years, the chinese exited the Global Recycling market. When they did that, they amounted of 30 of the total volume in america. As that volume is saturating the alternate markets, values have dropped by as much as 100 or more. So what that means is these longterm contracts for recycling programs across america no longer have the value on the backend to pay for the operations overall. Shery with china exiting the market, who is picking up the slack, and what are the longterm solutions we can find . There have always been alternate markets, alternate ports around the world. When we look offshore, we are looking at thailand, malaysia, vietnam, india, but the reality is, those countries were not for absorbingned the anonymous to really coming out of china. So they also are starting to take some measures to either slow or stop the import of materials, so they can be better situated, not be over run with the excess. You have the street medic of commodity in the market. For that reason, you have a big drop in the overall value. For anytake some time new capacity to come back online that is going to normalize things. Lead to concerns about the environment and the impact . If there is not a market that there used to be you said china would take whatever we had, including our greasy pizza boxes. Wethere a real danger that as consumers are separating this material, that eventually it will get disposed of in a way that is bad for the environment . Richard the reality is, a greasy issa fox should never be recycled pizza box should never be recycled in the first place. Folks have lost their way in terms of understanding what is recyclable and how to recycle properly. Value of theee the what wes diminished, are really advocating is to reset and restructure the Business Model on these programs to properly pay for the two services, the service to collect the material at your home, bring it to a recycling center, and a Second Service which is to process that material and bring it to market. Your contracts cover those and we are really only talking one dollar to two dollars more per week per resident in america then your Program Stands on its own in perpetuity. The value on the back end regardless of what that is, would go back to the city or the county for their use. Shery as consumers, what should be we are of durham this Holiday Season as we produce more and more trash . What will be some of the advice that you put out there . We are very proud of our commitment over the past couple of years this situation began to develop of the investment we have made. We have put millions into Public Education programs. Our website, recyclingsimpl ified. Com focuses on three some promises. Know what to throw. Residents can learn more about what they should be recycling, and more importantly, what they should not be recycling. Second is what we call md, clean, and dry. Those three words will guarantee that the container is the highest quality, and ultimately the highest value at market. And the third is keep it loose. Is, folks in their kitchen typically put something into a kitchen bag, and then put the bag in the container. Once it gets to our facilities, we dont have the ability to sort and see what is in the bag. We say keep it loose. Then the equipment can do its job. On our website, recyclingsimp lified. Com, those are some of the three themes that we tell to people. For joining us, richard coupland, Vice President of republic services. Tesla has reached a milestone in its push in china. This is bloomberg. Shery tesla has turned over the first 15 model threes assembled at the companys new shanghai plant, its first outside the u. S. The stock is down today as analysts at cowan sees delivery being heard by delivery saturation. Our team leader is here. Even the analysts saying excluding the netherlands and china, the numbers will be down. How good is the Chinese Market right now for tesla . Its a complicated picture because you have a situation where there is an expectation for china to be sort of accountable for a significant amount of Global Electric vehicle sales. The last five months, they have been soft. The government is taking subsidies out of the market, which is hurting sales going the past five months. Tesla rising above that in november, they had a really justg month, and there is this general expectation that with tesla making model threes in china, the ability to bring the price down by getting around taxes on those cars, to be eligible for subsidies and more favorable tax treatment, that that will help them maintain momentum that we saw last month like ad greg this feels do over moment for elon musk. We have been here before, not in china, but the first wave of the model three coming off the line. Ig expectations how important that he executes this time around . I remember in july 2017 when they were beginning production of the model three in fremont, california. Elon musk was talking about production hell, and he was serious making that prediction. For months and months, they were not able to hit their targets, production fell way short of what he was predicting. That really hurt the company. He admitted a year later that the company was within a few weeks of actually dying, in his words. This is a company that is on much firmer footing at this point. Fremont, california, where they have their Assembly Plant up and running, up until this shanghai factory got running, is cranking out cars. They have solid demand in places like benevolence, as shery mentioned. And another, as shery mentioned. You heard some skepticism on the part of , that as these countries, like the netherlands, china, the u. S. , as subsidies get pulled up completely or ratcheted down a little bit, whether or not tesla will be able to maintain the momentum going forward. Greg thank you to craig trudell. You can catch all of our interviews on the bloomberg with the function tv. When it comes to using data, everyone is different. Which is why Xfinity Mobile is a different kind of Wireless Network that lets you design your own data. Choose unlimited, shared data, or mix lines of each and switch any line, anytime. Giving you more choice and control compared to other top wireless carriers. Save up to 400 a year when you switch. Plus, unwrap 250 off a new samsung phone. Click, call or visit a store today. On vivian art auto. Says thephil hogan u. N. Will drop the opposition. The claim coming despite legislation. It calls for britains eu departure on january 31. The bill already passing the first hurdle. It will be debated again in the first year. Extendingd it was jan to 2020. In the united states, they are launching airstrikes on five bases in iraq and syria. They were used by the iranian militia to move after recent attacks. Weighing in on the strike. We did was take a decisive response that makes clear what President Trump has said for months and months. We will not stand for this. Putting american men and women in jeopardy. Iraqih iranian and officials are condemning the airstrike. John lewis