Congress to Work Together to fix the countrys debt problem. This Committee Hearing is about two hours 15 minutes. [background noises] the hearing will come to order break todays hearing will examine the need for a fiscal or Debt Commission. Well hear from a panel of experts including current and former colleagues that have been through these battles and have lived to talk about them. In fact extra special to have my mentor and friend steve who i am now literally serving as chairman and the shadow of his beautiful portrait behind us. And so it is an honor to have you back here in your chamber. Sender rob portman, ambassador portman is from ohio. We are delighted that you are here. He was a member of the bipartisan bicameral Super Committee established by the budget control act of 2011. He also served as director of omb during the Bush Administration which is where i got to know him. He has given a lot of thought to these issues over the years. Ambassador, thank you for your time we welc
5 on a 30year yield briefly. Very close to 4. 90 on the 10year yield. Tom mathematics is important and we do not do methods early in the morning. From a careful analysis to looking a vector down freefall. Something changed yesterday and mathematics went out the window. This is a warning of price analysis and fixed income. Not to be inflammatory but it borders on freefall. Jonathan our price has been hammered, particularly over the last few months. 4. 8146 on a 10 year maturity. Lisa a what is the Circuit Breaker . It is not coming from washington, d. C. This not look like there will be a resolution without leadership. Job openings are coming out stronger than expected and manufacturers are also better than good. What point do you get a Circuit Breaker from something other than people who start to buy . Jonathan over on a speaker liz house, he had to say, this is wholly consistent with the broader structural concerns regarding American Local dysfunction and the countrys trajectory. Thos
Good morning, everyone, and welcome to bloomberg surveillance. I am Francine Lacqua in london. 0. 6 . 600 gained there is a fine thing going on in the market. If we look at last week, there was a huge volatility reserve. Have yields rising equities rising at 12 eurodollar, 1. 2492. The yen, we have a lot going on in the japanese market. Coming up on bloomberg , we have an interview with the Standard Life ceo, Martin Gilbert, after shares were hit this morning. , we are joined by the ceo gen. We also speak with diego entini, formerly of amazon and lets get to first word news with nejra cehic. Nejra president zuma has resigned, ending a 10year run hard by scandals. He disagreed with the ancs decision to throw him out, calling his treatment unfair. They must ric choose a replacement for him in 30 days. In mylife should be lost name command also, the anc should never be divided in my name. To thetherefore come decision to resign as president of the republic with immediate effect. Nejra Pre
Heads of organizations. This hour, we will also be speaking to one of the biggest names in private equity, jon moulton, and then later Nicolas Dufourcq. Overall, stocks in asia seem to be dropping a touch. European stocks were mixed and bonds rising as investors focused switching back to Central Banks. Several policymakers were cautious about raising Interest Rates again this year. The dollar weakening a touch, you can see. Thats your business flash. Lets get straight on to the bloomberg first world news. Nejra donald trump has said he will announce whether or not he will decertify the iran nuclear deal, quote, shortly. Thats ahead of the deadline this sunday. Trump has called the agreement a badly negotiated deal. Has denied ever calling for a bigger u. S. Nuclear arsenal. His comments came response to an nbc report that he had asked for a tenfold increase in u. S. Nuclear capabilities. He also questioned whether the broadcast license should be taken away from nbc television. Ofbrusse
Don ritchie and dick baker were great role models and give me a lot of help. Brian i have a lot of video clips from different events in history. I get to throw anything up i want and look to you to be experts on this. Lets start with Everett Dirksen who was a senator from illinois until 1969. Here he is talking about the differences between republicans and democrats. Could you tell me, what is the difference between a republican and a democrat . I am afraid we would have to devote the whole evening to it. I could highlight one or two things. One, of course, is the insistence on the part of republicans that we balance out our Fiscal Affairs and make sure that we are going to have a solid country. I think, generally speaking, our friends on the other side of the aisle are prone to spend money and go in for new activities when it is rather doubtful whether or not it is good for the country and for the interest of the people. Because, you pile up up your national debt, interest, staggering