Minutes. This hearing will come to order but welcome to the committee on the Budget Hearing regarding the president s fiscal year 2025 budget request. I welcome director Shalonda Young director of Office Management and budget. Thank you for being here. I have enjoyed working with you. You are one of the most likable people on capitol hill and in my experience in politics and kudos to you. As ive said before i like you a lot i do not like the president s budget im going to outline that with respect. But probably some sharp criticism. But i appreciate your service to our country as a former staff person here on capitol hill and now in this very important job as the director of omb. Welcome back to capitol hill and thank you for your time this morning. Im going to yield such time as i may consume for an Opening Statement that you thought that was my Opening Statement. Im not going to read my statement, i just want to talk to you i want to talk to my colleagues i want to talk to the Americ
President bidens 2025 budget request before the house Budget Committee. She highlights with the administration sees as fiscal and legislative successes in the president s priorities for his latest proposal which totals 7. 3 trillion. This runs three hours 20 minutes. A three hours and 20 minutes. A three hours and 20 this hearing will come to order but welcome to the committee on the Budget Hearing regarding the president s fiscal year 2025 budget request. I welcome director this hearing will come to a order. Welcome to the committee and budgets hearing regarding the fiscal year 2025 budget request. Welcome director young, director of office and management budget. Thank you for being here. I have enjoyed working with you, you are one of the most likable people. On capitol hill and in my experience in politics. Kudos to you. As ive said before, i like you a lot. I dont like the president s budget and im going to outline that with respect. Probably some sharp criticism. I appreciate your
Abramowicz. Jonathan live from new york city, good morning, good morning for our audience worldwide. This is bloomberg surveillance alongside tom keene and Lisa Abramowicz i am jonathan ferro. The best day of gains since midseptember on the s p 500. Bonds are just settling down a little bit. Tom i will go with that, but it is fragile. I would say that it is a fragile calm at best. After the festivities in washington, the matt gaetz interview yesterday, i have had time to look at a set of charts. I wont bury you with the details but it is a peter pan economy. I have never ever seen some of these charts in any of my studies. We are in a bond land that is never ever. Jonathan the Bloomberg Team has done fantastic work on the numbers. The price disruption. The bonds showing 10 years or more. Slumped 46 since peaking of march 2020 according to data bloomberg. Just shy of the plunge in the aftermath of the. Com bust. The destruction that weve seen in bonds is almost as bad by some measures a
Stuart good morning it is 10 0o straight to the money and show you what the market is doing this monday morning, red ink down 100, down three on the s p and the nasdaq of 55 points, the ten year treasury just moving up, for 64 right now. And oil about 91 per barrel that is where we are coin at 28000 purple coin this is happening right now, donald trump just arrived at a new york city courthouse, this is the first day of his argument and is to enter 50 million civil fraud he is accused of inflating assets to secure business deals. He just arrived in the courthouse, im not sure what hes saying at that point. Ill get the audio later but he just arrived. We have the latest on manufacturing in the ism manufacturing report and ashley has a number. The number is 49. 0, that is better. The estimate was for 47. 7, however, that is still in contraction anything above 50 expanding anything below contracting which means that is the 11th straight month now of this particular index being an contract
Yesterdays gains related to treasury yields tapering off. Coming back down after really watching them march higher. Above 4. 6 . 4. 54 is the yield for the tenyear treasury. We have seen calming down at this point of yields. We will see where that continues. Late last night in washington, lets talk what happened. Republicans passed three of four spending bills in the house and a push to avoid the Government Shutdown. Lets go to Emily Wilkins in d. C. With more on it. Good morning. Reporter good morning, andrew. You are right. There was a little bit of victory for House Republicans. Lets be clear, congress has no plan to fund the government before sunday at midnight. That means we are looking to have a shutdown at this point. The house and senate on looking to have progress today to keep any sort of shutdown as short as possible. The house passed three of the longterm funding bills. None prevents a shutdown. The hope is to build support for a shortterm measure that members will vote on