And their currency is under siege. Our problem is a Federal Reserve too proud to admit their mistake of acting too fast and tightening too much and that i was right. They must cut rates bigger and faster and stop the ridiculous quantitative tightening now. Which gets us to the markets this morning, jim. We have been talking about negative rates, they only continued to worsen. It is a strange phenomenon to be sure but it is also a worrisome cycle people believe because you have negative rates that auger for weaker Economic Growth or a lack of growth you have what are it becomes selfreinforcing you have the global coordinated monetary easing going on right now. And you have the first time people talk you about the possibility of rates here falling dramatically from where they are now have you ever seen a ten year whipsawed as much in yield in the half hour period as we did this morning almost as if someone wants to get ahead of even lower yields there is a big short position in bonds. Th
Surveillance. In the and the european session has not come through to the asian session. We got the s p futures firmly in the negative territory. We have seen the s p futures on the back foot. Interesting to see what has been happening in the currency market. A lot of yen strength in the market. The dollar is down against the japanese currency. We heard from the japanese Prime Minister, he had some words to say about who is going to run the bank of japan. There has been lots of reports about Corona Kuroda been tapped for a second term being tapped for a second term. We have an exclusive interview with the ceo of the Luxury Group Sales werer holiday good. I would be taking you through the first hour, nejra cehic will be with you for the following couple of hours on bloomberg surveillance. U. S. President trump has unveiled a 4. 4 trillion budget for the 2019 fiscal year that and otherwelfare domestic programs in favor of higher spending on military and immigration enforcement. Calls for
Been arrested in the deaths of 71 migrants find found in a truck abandoned on a highway in austria. Probablyy they suffocated and at least some of the victims were refugees fleeing violence in syria. , president george w. Bush visits the site of one of the low points of his presidency. He traveled to new orleans to mark the 10th anniversary of Hurricane Katrina. The former president was criticized for his administrations response to the disaster. President obama was there yesterday and watched through the new orleans neighborhood that was one of the hardest hit. The president said new orleans is a model for resilience in the face of catastrophe. I am here to say that on that larger project, stronger, more , the progress that you have made this remarkable. Mr. Obama called new orleans recovery a work in progress, saying the job is not to rebuild the city as it used to be but to rebuild it a new. Defense secretary Ashton Carter is on a friend raising mission to Silicon Valley. Carter wan
Then one of our most eclectic fed president s, gary stern with firstrate academics. I would suggest out of minneapolis, a really unique, regional aspect, minneapolis economics. All of the fed Bank President s take on greater importance, because there are fewer people on the board, which brings me to my question. A lot of people have suggested lotyou were a fed staff, of people say the fed staff runs the fed, especially in the absence of a lot of governors with academic and economic credentials. Is the staff going to be pushing jay powell around . Should we be looking to the head of the Monetary Policy division for guidance . I think it would be a mistake to try to push him around. He is pretty solid and hes been working hard. Hes been around Financial Markets and policies since the 1990s. He was in part hired for the job because he represents continuity. The destiny that he will be his own person. How much can he be his own person in the face of 12 regional Bank President s who as voti
To the biggest deal. Changingame transaction. Roaracle is making a desperation move to boost cloud revenue. David weirded money move and why . Where did money move and why . Etfs are sharpening volatility. We see a flight to quality. We are in a low return world. I am not protecting calamity, but im sitting on a lot of cash right now. David join us for a look back at 2016, straight ahead on bloomberg best. Hello, im david westin, and welcome to a special edition of bloomberg best. We review the most important Business Analysis and review for 2016. One of the globally significant events of the year was the u. S. President ial election. We kick off the year in review. Lets turn to the race for the white house and the results of super tuesday. On the democratic side, Hillary Clinton jumped out to a big lead in the delegate count after winning seven states, compared to four states for bernie sanders. Donald trump takes a cruz, andtly over ted the question is, how do the strategies change n