Between the United States and japan with leaders from the Defense Department and Japanese Ministry officials. The Hudson Institute hosted this visit. Good morning and welcome to Hudson Institute. I serve as japan chair at hudson and i want to welcome our audience here at the bessy and walter Stern Policy Center in washington and i want to welcome our audience on liep and online and through cspan. On the eve of Prime Minister Fumio Kishidas historic visit to the United States on april 10, it seemed like an appropriate moment to examine the benefits of the deep and expanding u. S. And Japan Economic relationship and as all of us in this room have seen on the news reports, including by certain members of our audience here today in the press, about the impressive deliverables that will be coming out of both the u. S. Japan summit on the 10th and u. S. Japanphilippines trilateral summit on the 11th, most of the focus object the discussions will be on security issues, not economic ones. That
Chancellor Angela Merkels government will demand the u. K. Pay for the privilege of its banks having access to e. U. Markets after it leaves the bloc, according to officials from two key german departments. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Crumpton. This is bloomberg. Vonnie it is noon in new york, 5 00 p. M. In london, and 1 00 a. M. In hong kong. I am vonnie quinn. Shery i am shery ahn. Markets. Bloomberg from bloomberg World Headquarters in new york city, here are the top stories that we are following. The state of American Business will speak with u. S. Chamber of Congress President and ceo tom donahue. What he sees as the top challenge facing the Business Community. Another market bombshell, or potentially from china. They may pull back holdings of u. S. Debt. Ofld this be the beginning the end of the bull market for bonds . Ford in the hot seat. It has become the latest carmaker to be accused of diesel emis
Higher, apparently because of reports the Chinese Government was buying less of them for its Foreign Exchange reserves. This comes just when the u. S. Treasury was going to have to be borrowing more to pay for this tax cuts. To take us through the possible ramifications, we welcome alex wayne in washington. Welcome. What do we know about this . Alex china indicated to us that they have less of an appetite for u. S. Treasuries. That could be bad for the u. S. In a couple of ways. Slightly already raised yields on u. S. Debt. 2 the Congress Just passed a huge tax measure is going to add 1 trillion and a half dollars to the debt over the next 10 years. If we have to finance that at higher prices, thats bad for the deficit and the debt. It also could have spillover effects like Mortgage Rates rising, for example. What happens if people start seeing mortgages maybe approach 5 , a level we have not seen in many years . Shery but china is very much deeply invested in u. S. Treasuries. Would i
Decline in the open and s p in 18 best start in 30 years. Buffett on the market, succession planning at berkshire, stocks not richly valued and remains a buyer but not of bitcoin. Tech under fire a powerful gop senator demanding answers from apple good battery gate the s p is off to the best start since 87 and buffett says markets are not richly valued according to rates and what he told becky a few moments ago. What has happened in the market has been very sensible. Nobody thought we would have these kind of Interest Rates for a long time. Additionally you have the tax act which is a huge factor in valuation. Says the Interest Rates are the gravity to value and munger chiming in saying share prices are not crazy. Point blank tell you, this was becky quick, congratulations, unbelievable interview. You sit there and what you get are people who know more than anyone else alive and they are saying, look, theres some interesting things and lets not go crazy, just because Interest Rates go
At 1130 there will be voting whether to limit debate on the 2018 defense spending bill. Public funding runs out at midnight. Later the senate is expected to take up a six week extension. Live now to the floor of the senate. The presiding officer the senate will come to order. The chaplain dr. Barry black will lead the senate in prayer. The chaplain let us pray. Eternal spirit, our lamp and light, we praise your holy name. Lord, you are our strength and shield, enabling us to be surefooted even when standing on mountain heights. Stay with our lawmakers, support them with your mighty hand, and keep their feet from slipping. Enable our senators to one day stand before your presence with great joy. Show them your greatness until the things of earth grow strangely dim in the light of your glory and grace. We pray in your majestic name. Amen. The presiding officer please join me in reciting the pledge of allegiance to the flag. I pledge allegiance to the flag of the United States of america,