On President Trumps nfc and worked previously on capitol hill at the hudson institute, Naval Reserve but most importantly is an allaround great guy and im sure this conversation will be fun but fun fact he is from cincinnati almost a finley market and not bad. No relation. [inaudible conversations] [laughter] we thought chris would give a few framing remarks and then leave time for us to ask clarifying questions but with that chris, welcome back. [applause] thank you, brian. Great to be back here. I applaud your persistence after last time and rescheduling this after the explosion that sounded so dire but its not that bad. Those whove been around washington will remember there is a series of exploding manholes in georgetown in the mid 1990s or so and that problem has not entirely gone away. Thanks for keeping at it and those were willing to come back. Its been nearly ten years since the last Nuclear Security summit was held here in washington dc and they have been three more after that
The message of inflation is going up in part because of wage pressures and the big drive is driven by shock. So i would kind of do that after the regional whats interesting under further study is that the wage for the u. S. Seems to be working very well. Thats the point and even over time it hasnt flattened very much thats t what mathew made in a nice discussion. Maybe more to see. It might be the call date has changed and they are left out for the cpi or city basket. But in terms in waste space, it sends to be working well and it is left here. Yes, you have raised many important points with your question. I think one way of thinking about it. I think the points you alluded to, those are price changes that are very salient, important for daily life and easy to measure. Its that, if you think about an iphone, lets say you have a price of 999 for the last 15 years, even though an iphone today is a very different animal than an iphone like 50 years ago. So official statistics takes this i
60s. A glorious start to this monday with the sunshine coming in fact sunrise at 7 00. Partly cloudy and cool for today with a bit of a wind along the coast. It is breezy, Half Moon Bay was at 29 Miles Per Hour and now we have a lot of readings over the pacific with wind in the area as well as over the hills and lake county. Look at the sierra. We have snow falling in the sierra and over the pacific there are some blue skies. Definitely a pattern change and over the weekend we began the transition. Monday afternoon we are partly cloudy and you can see we are not getting any rain. Lake tahoe is winding down as well as in the sierra but a little bit of snow this morning. This is a look at the temperatures. 37 in santa rosa, just above freezing in napa, upper 30s in livermore, 42 oakland, 49 San Francisco and 50 in san jose. Along the peninsula, 47 foster city with 45 in san mateo. Upper 50s with lower 60s and the forecast for today. Not much change coming in the days ahead. I will detail
Daybreak europe. . Are you a believer . . Do you believe in the great Global Equity market rally . The all world index hits a new record, the first in 18 months. Driving theses markets. The s p has had the longest winning streak in 18 months. Run since donald trump was elected president. In terms of the voices from executives around the world, a record 51 are optimistic on the course. World, and msci Small Businesses are the most optimistic since 2004. Investors inspect 23 of infliction inflation at a fouryear high. Janet yellen told the market that she faces the risk of not being fast enough, the market added 380 points. It carries through across the complex. Even those the stock markets vix, i yesterday, the want to draw your attention to this, a real volume trend in the market. The volatility index is rising by 11 yesterday. 11. 97, thats a move you want to keep in ion. Down. 25 . Is yields are negative for the First Time Since 2013. One commentator saying weve passed the cyclical p
Have a look at where european equities are trading right now. Just under 30 minutes until the end of the monday session. Ninth daying for the in 10, the highest level in the stoxx 600 since december. All these currencies rising against the dollar. No trading in the u. S. Because of the president s day holiday. Mixed performance look at the innch twoyear yield france, commodities and credit isault swaps the spread the yield difference between the friends french tenure and german 10 year. Risk. A measure of a lot of goings in france over the weekend. We have had polls that show the National Front leader has improved her chances of winning the election. She still below 15 below 50 but her chances have risen versus the last month or so. Potential we had the for unification of the left candidates, but it did seem as that theye weekend were exchanging barbs, so a unified candidate less likely. The concerns would be if they unified, they would reach the second round and if marine le of her, t