Billion euros. I do not know where the figure came from, but they will be readjusting. Do i understand that i cannot buy a diesel vw in america right now . They basically shut it down. Vonnie yes. They have recalled diesel cars. The funny thing is the north american head was speaking last night. Clarification, i learned to etle, my a vw be father had a vw rabbit. There is our clarification on vw. A busy morning. Here are top headlines. Here is vonnie quinn. Vonnie chinas president , jinping arrives in washington. He has defended the way he has handled the chinese economy. He said the Government Intervention was needed to deal with systemic risk. More problems for volkswagen. And face billions in fines repair costs for cheating on federal air pollution tests. The Justice Department is investigating vw for possible criminal violations. That could lead to charges against the company or its employees. The head of vws operations in the u. S. Admits the company screwed up. Ande must fix thos
I would argue that today we should be 100 basis points higher. It is clear that that is not done. This is bloomberg surveillance with tom keene, jonathan ferro, lisa abramowicz. Tom good morning, everyone. Tom keene, jonathan ferro, lisa abramowicz. It is jobs day in america. Important report in 29 minutes. Wages, wages, wages. That is what matters this morning. Jonathan today is payrolls, next week is cpi. That should set us up for the meeting in september. You will get another payrolls and cpi report that, too. Tom no Forward Guidance into this report. That data is there at 8 30 and the fed will have to adjust. Curve inversion of 37 basis points. Jonathan the fed has pushed back in a way that we thought they would. Yields have responded on the front end by 17 basis on the twoyear. Equity markets kept on rounding. We have ripped off that market low. Close to 20 higher from june 16 on the nasdaq. Tom it does for to into the fixed income space. Frankly, that has been as dynamic as equit
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