David we have some breaking news coming out of washington. With a majorroup announcement about leadership succession. It was led by David Rubenstein who also hosts the David Rubenstein show right here on bloomberg television. Jason kelly joins us now to talk about carlisle and the private Equity Industry which he has covered for many years. This is a big year. This is a moment we have been waiting for for a long time and private equity. The three founders are handing nwe ceosover to two two new ceos. These are both men who have spent some years at the company, and now we know who will be running one of the Worlds Largest equity firms effective january 1. A little bit of runway. This is really only the second time that we have heard a clear sense of who will run the big private equity firm. Alix who is left that we need to hear from for secession . Wonder once i want to make sure we do not miss is that kkr to tee twowee guys up, but they said they were not going anywhere right now. This
Roundtable with tomand trend locked together. Daschle and trent lott. Jonathan very quickly, a big print in the eurozone, core inflation a fouryear high. , up. 6 . Gh on the euro treasuries on offer at the margin. Of the Market Action. Lets get you up to speed on the top stories. Here is emma chandra. Emma President Trump warned there could be a major conflict with north korea if diplomacy fails, telling reuters the u. S. Would love to solve the issue peacefully, but said it is very difficult. At the United Nations Security Council today, secretary tillerson will try to showed north korea the world is against it. In france, the president ial election is a week from sunday. At a rally and nice, Marine Le Pen did not mention her plan to pull out of the euro, but said macron lacked french fry use. Tell thes are ready to u. K. They are united when it comes to brexit. There will be a summit in brussels to discuss the uks departure from the block. They will warned the u. K. Against trying to
Wages are getting squeezed, that is a problem, but we do have an upside inflation issue and that will be something we need to dig into. Im trying to look at the details who it was. Less thane only have normal membership of the bank of england mpc. Voting already effectively for a hike, now it looks like others will vote that way as well. Is an upside story, rather than a downside story. Christian Ian Mccafferty has been there before. Saunders to the mpc, relatively new compared to the rest of the mpc. Talk about three voting members running their hand up for an Interest Rate hike, when the politics have become even murkier. Those hawks as well, they are independent members, which is another fact you have to think about, as well. That is a factor, too. The governor of the bank of england will be speaking this evening, across the road from his usual venue and of course we have the chancellor coming through. There is extreme clinical uncertainty in the u. K. Right now, we are uncertain of
Put. Confusing. S were of the titanic should we have been waiting for. The speech itself, im not sure the market is interpreted it. There is a very clear shift in the tone relative to the last policy meeting. Quite a dramatic tone. Backslide to expand how tightening is not really tightening. I think the hope was if you explain it that way, Financial Markets will not get into a tizzy. I did not read draghis statement on tuesday to be anywhere near as bearish as the market is taking it. I take it the other way. I think it is a signal from draghi that even if there is going to be further support and tailwind in the economy, the central bank is still there. Already late getting going. Jonathan so was eloquent or confusing . Is jim me from new york caron of morgan stanley. Guy lebas of Jenny Montgomery. And Margaret Patel, with the wells fargo asset management. Quote itselfthe from mario draghi. These are the words that seem to move markets. As the economy continues to recover, a constant p
Investors are asking if sterling falls and if inflation shoots up, does the bank of england have a hike rate . E brexit could cause spillovers into the u. N. Economy. Core inflation. But it does see a pickup in inflation. Its delaying investment and spending decisions and the brexit could materially affect inflation and the g. D. P. And jobs. They are not stopping, warning about the risks of brexit. Only a few months ago he said he wasnt going to wade into a Brexit Debate. How things have changed since february. No terrific moves off the back of that warning. My question to you would be, the labor market yesterday, solid. The warnings, do you think into the data . Thats a good question but the p. M. I. Data suggests it is Second Quarter is at. 2 . As you know the end of last year we grew. 4 . The big question for economists and the bank of england is how much of a slowdown of the economy is brexit related . We have had a suggestion that some of the slowdown might be nonbrexit related b