On radio and television, what you need to know, a data check into our discussion this morning. The markets are on the move. Just one icon from the Northern Pacific rim, the japanese yen through 1. 50 is historic. Lisa its not just the yen, the bond yields are continuing to go up and youre seeing softness in areas where we see companies outperform. When we reach a Tipping Point . We are not there yet. Tom Julian Emanuel will join us later. Its real simple, he says the fed cannot be happy. You see that with the unraveling of the two sent spread. Lisa the market maybe is doing the work for them but its not clear its actually doing the work thats needed. We will get a gdp figure today that shows a reacceleration in growth that is not what the fed wants to see. We saw a blowout number yesterday of new home sales. The fed is not counting on this to drive down inflation. Tom im drowning in the narrative. Katherine greifeld is joining us this morning. Gdp, first look, 4. 5 . We are struggling.
Let me thank everyone for coming here this afternoon to discuss the important topic of tax reform. And while there are those who say that theyre putting out plans with notice a lot of competition but we have seenen anything that was specific in terms of what has been discussed. I think the conclusion that staff is come to that despite what is been suggested that this more and more is unveiled in a piecemeal basis, looks as thoug. Its really actually for people at the very top. Let me start by reiterating that democrats support progrowth, proworker, comprehensive tax reform. Ograms and i think my credential on this issue has been consistent over a long career about growing the economy. Let me highlight two key principles that we believe must be adhered to in tax reform. Our number one priority in tax reform is moving the dial to help the middle class and their families prosper. That means creating jobs and boosting wages, and givingnd hardworking, middleclass americans the relief they n
2. 14. Our road map begins with apple and new product announcements. Did we see anything that would move the needle . Plus a big change at j. Crew. Mickey drexel is helping down. New chief executive coming from quest elm. The president taking to twitter ahead of congressional meetings today. Lots of buzz surrounding apples answer to the amazon echo and google home, the new home pod unveiled at apples Worldwide Developers conference. Heres tim cook making the case for that product. We have such a great portable music experience, but what about our homes . We think we can do a lot to make this experience much better. Just like we did with portable music, we want to reinvent home music. Jim, we got the ar kit, we got amazon on apple tv, but home pod really stole all the headlines. I have the logitech music system. I have the Harmon Carden music system and i have the echo. I would tell you that the echo is really great. You can talk to the echo, but i talk to my wife. I dont need to talk t
I want to hear more about the Fabulous Four from the fed. A busy day at Morgan Stanley in tokyo. Francine, are the many articles of mystery of why the yen is stronger. The most sophisticated prose. There is a mystery to it. John letter says they were talking about these trades and he himself cant figure it out. We will delve deeper into that. First, lets get to bloomberg first word news. Here is vonnie quinn. David cameron is acknowledging he had a stake in an offshore fund set up by his late father until six years ago. Cameron has been under intense pressure to provide details of the interest in the holding find it since it was mentioned in reports after the disclosure of the panama papers. Cameron previously said only that he, his wife, and his children hold no offshore accounts and one that in the future. State john kerry is in baghdad at this hour on an unannounced visit. He is meeting the iraq Prime Minister and others. The trip coincides with military advances against Islamic Sta
Saying. Tom the well focus on the i. M. F. Has to be the great phrase of 18 months, madam lagarde, the new mediocre. I dont think anyones changed, francine. Theyre still talking about the new mediocre. Francine right, except the immediate oaker is maybe getting a little bit worse than it was 18 months ago. Lets get straight to plorgs first word. Heres caroline hyde. Caroline another casualty of the panama papers, this time its spanish industry minister. He resigned after giving conflicting explanations to a fund. He initially denied any involvement before backtracking and calls for his ouster intensified after the newspaper report yesterday. Another blow for brazilian president. The countrys Supreme Court has rejected a motion to stop an Impeachment Vote against her thats scheduled for sunday. Its just the latest defeat for the battled leader, who lost support from key allies this week. The high court voted 82, rejecting her claim the voting plan procedures are contaminated. Russias De