mark carney will speak later today. john did not call it a policy mistake. the dollar is lower, sterling is up. he called it an unnecessary risk to the marketplace. it is a risk that the bank of england is taking. the dollar is generally lower. the futures are down. you have those awful retail sales trying to break that data down a little bit. it is a collapse in terms of retail sales. they drop by 2% month on month. that is going to be under pressure. paris is down by 33%. the dollar and the bonds. they are all coming under a little bit of pressure. this is the dollar index. jpmorgan saying the dollar will be weaker on any activity. it dropped by 8.5% last year. it has been declining since 2004. the imposition of tariffs like will do nothing other than distort trade. ultimately it will lead to a loss in jobs. you have seen prices ride, yields fall. the trump tariffs are sparing a rally in the bond market. we will talk more about that in a moment. crude is dying. could it oil production in the united states more expensive? let us have a look at the bond mark

and his bodyguard have been killed by a suicide bomber and the ob gyn city of jalalabad up to see her carney was the head of the ministry of hardship and religious affairs and our province there has been no immediate claim of responsibility. the united states has announced more sanctions on north korea after washington formally concluded that the country used chemical weapons to assassinate the half brother of leader kim jong un aqualung for airport last year kim jong nam died after a nerve agent was sprayed in his face. this winter has been the arctic's warmest ever with sea ice levels at a record low while scientists say the unusually warm temperatures there are part of a global warming driven cycle and that has likely played a role in the icy winter storms that have recently hit europe and the u.s. . all right you're watching the news we still have a long way to tell you about including a german judge hands down terrorism convictions to far right extremists from bhangra few g. shelters at all a background to that ruling coming up a little later on but first. first danielle and more jockey

ian: all right, so, we'll put him back in the carney where we found him, and he can continue on his journey tonight. dr. chris: sure. he came from around here, didn't he? ian: yeah, just down by this log i think. so, we always put them back in the same spot, and he can go down his burrow here. dr. chris: so, he might just have, like, another night before he decides to head out to sea in the morning. ian: that's right. it takes a lot of courage for them to head out to sea. so, he might decide, well, i'm not ready, and try it tomorrow night, yeah. dr. chris: all right. ian: but he'll be all right there. dr. chris: now he's plastic-free, he'll soon be able to join the thousands of other birds that make lord howe so special. announcer: coming up, dr. chris takes a shelter dog out for a day on the town. dr. chris: you read the sign? yeah, okay, let's go. let's team up to get the lady of the house back on her feet. and help her feel more strength and energy in just two weeks yaaay! the complete balanced nutrition of (great tasting) ensure with 9 grams of protein and 26 vitamins and minerals. ensu

have a freshman member as you can see this in my time at cbo congressman paired up with democrat jim carney is now governor of delaware and informed a bipartisan pitchman group they wanted to hear from cbo on regular basis to discuss a range of issues, scoring matters, baseline roles and what is up with this and we are hearing this and can explain it for us and that complete interaction. they pulled together informally and it was very helpful and constructive and so those kinds of things help with the two-year change can help individual members can band together and budget committees -- >> based on the history since again, the finite thing is time and two years is the time and are we any better at bringing freshman up to speed and getting them productive sooner or are we stuck in that treadmill where we go over the same class and it's like teaching [inaudible fine. every time that student comes into the airplane you know they make the same mistakes because it's a learning process. are we wasting time and money the way we do things today? >> i don't think so. i think it's the challenge of ou

people were afraid of jay carney and afraid of talking out of turn because they would be punished somehow. and no. obviously, people are getting deeply reprimanded, you would think it would stop. but i think one of the problems as they have not had a great ability to crack down and figure out who is talking to whom. i believe they had an emailer fun record or something or proof, there would be consequences. every now and then you see something like that. right now they have sort of band personal cell phones in the west wing. there are cell phones where you can receive texts, secret messaging. that is the way a lot of the tote house prefer communicate with reporters. they do that under the guise of security but these crackdown seemed to happen in moments where there are a lot of leaks coming out of the white house. so i have to think one of the problems is -- and i have to think under general kelly things have gotten better and a lot more disciplined and there are some people who do not leak at all. but i think they have an inability to sort out leaks. one other brief point, sort of what a

afraid of jay carney and afraid of talking and would be punished somehow? >> yeah. , i mean, yes and no. obviously if people are getting deeply reprimanded you would think it would stop. one of the problems is they have noted the great ability to sort of crack crown to figure out who is talking to who? anelieve that they had e-mail or a phone record or some hard proof i think would be consequences and every now and then you see something like that, liking now, they sort of banned cell phones in the west within, personal cell phones those are cell phones you can receive texts on, app, amess anticipating lot of pom in the white house preferred to communicate with pin and did that under the gis of security, but crackdowns seem to happen in moments where there were a lot of leaks coming out of the white house. the problemse of is -- and i have to saner general kelly healths has gotten lot disciplined and some people who don't lec at all. but i think the problem is they sort of don't, they have leakpity to fer rite out within other brief point to what abby was s

people were afraid of jay carney and afraid of talking and would be punished somehow? >> i think, i mean, yes and no. obviously if people are gettingdeeply reprimanded you would think it would stop. one of the problems is they have noted the great ability to sort of crack crown to figure out who is talking to who? i believe that they had an e-mail or a phone record or some hard proof i think would be consequences and every now and then you see something like that, liking now, they sort of banned cell phones in the west within, personal cell phones then west wing, those are cell phones you can receive texts on, secret messanticipating app, a lot of pom in the white house preferred to communicate with reporter at one pin and did that under the gisof security, but these crackdowns seem to happen in moments where there were a lot of leaks coming out of the white house. so i think one of the problems is -- and i have to saner general kelly healths has gotten better and a lot disciplined and somepeople who don't lec at all. but i think the problem is they sortof don't, they

i wonder to what extent you consider gentrification and economic displacement as carney of federal policy and -- concern of federal policy and how you tailor h.u.d. programs to more effectively address this and give communities resources to address it. secretary carson: well, the key thing we want to do is make sure people have choice. people can go where they want to go. one of the things that i'm sure you've discovered is that, you know, when you're looking at urban areas and you say to people, i want you to move out here, they don't want to move out there. they actually want to stay where they are. they just want it to be the right kind of community. and when we've taken some of the worst places -- you look at east lake in the atlanta area. mean, it was like the epicenter of crime and poverty. you know, to the public-private partnerships, it's now an ideal community. their problem is now everybody from outside wants to move into there. you know, that's kind of the problem we should have. we should be making places so nice that everybody wants to move in there rather than worry about th

buenos aires, he said cryptocurrencies could undermine current -- undermine confidence properly.ated carney says their combined a global market value is less than 1% of global economic output and they are not yet sexy for other traditional currencies. in sydneylian aussie has urged north korea to shut down its nuclear program immediately. the final communique this grad kim jong-un's ballistic missile's -- described kim jong-un's ballistic missile program as destabilizing. vowing resist all forms of protectionism. global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. i'm ramy inocencio. this is bloomberg. ♪ getd: more turmoil as we underway this new trading week in washington now that the treasury undersecretary for international affairs says he "misspoke" when he said economic dialogue with china is over. >> the administration was disappointed with the results. back toward a path a market orientation. so i discontinued the comprehensive economic dialogue. david: he was speaking with tim adams at the iif. backtracking. what happened? saw, he

the same time, cryptocurrencies, i would agree with mark carney others that this is not a systemic risk issue at the moment, they are consumer protection issues we have to be across. real-timene is payments, the claimant's platform that has been launched in australia over the last month i think leapfrogs so many others, 24/7 real settlement to the banking system, that's what the economy needs. it needs that real-time capacity within payments systems and the payment routes i think that will lead to a lot of innovation and a lot of new applications. australia is positioning itself to be a world leader in fin tech and where top five in the cities around the world we're looking to expand upon that. cryptocurrencies are very fashionable to talk about at the moment, but at the end of the day, what matters is you have real-time payment systems. michael: obvious trillion economy, the fed meets this week in washington unlikely to raise interest rates, how does that affect interest rates for you? >> i don't think those two are related. i think what's happening with the fed is well telecast and we

he keeps surprising us and mark carney really laid the groundwork. david: a fair amount of volatility. some stability isn't china. we did have an announcement about a new head of the pboc. he came in and said i want to have stable growth. we have to cut back on the credit. is it doable, peggy? peggy: it is a must. that is what is facing the pboc. talking to banking -- the bankers recently who are saying we are not expecting big moves in china this year. by 2020, we will start to see them have to deal with the amount of debt that they have taken on. .hat is the question will they be able to manage it in this transition question mark that is what people are waiting for. david: luke, this is a cornet effort. -- a coordinated effort. how well is this integrated and what this does to for worldwide markets? luke: that has been what we have been reminded of over and over. visit another reiteration of that. -- this is another reiteration of that. when i look back at august 2015, pretty much it is back to that right now in u.s. dollar terms. we are not hearin

mark carney spoke at the bloomberg building in london. >> we are not worried about it displacing sterling with the u.s. dollar or conventional currencies, but it does throw a challenge, these cryptocurrencies, to central banks and those who receive payment systems and markets and how to reorganize them to better serve customers. kailey: global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am kailey leinz. this is bloomberg. david: thanks. it is super sunday in europe, with germany's social democrats deciding whether to join angela merkel to form a government's and national elections on sunday in italy. we welcome francine lacqua from rome and matt miller in berlin. matt, it is fair to say the markets are priced in and it will be a coalition and angela merkel will have a government to run. what if it goes the other way? is that going to be a lot of downside to the markets? matt: a very good point. if you look, there is almost no hedging investors are doing with the euro as a provision for the possibility of failure. they are long call

i wonder to what extent you consider gentrification and economic displacement as carney of federal policy and -- concern of federal policy and how you tailor h.u.d. programs to more effectively address this and give communities resources to address it. secretary carson: well, the key thing we want to do is make sure people have choice. people can go where they want to go. one of the things that i'm sure you've discovered is that, you know, when you're looking at urban areas and you say to people, i want you to move out here, they don't want to move out there. they actually want to stay where they are. they just want it to be the right kind of community. and when we've taken some of the worst places -- you look at east lake in the atlanta area. i mean, it was like the epicenter of crime and poverty. you know, to the public-private partnerships, it's now an ideal community. their problem is now everybody from outside wants to move into there. you know, that's kind of the problem we should have. we should be making places so nice that everybody wants to move in there rather than worry about

carney said their combined global market value is less than 1% of global economic outputs and not yesterday substitutes for traditional currencies. >> powered by more than 120 journal e.u.s. >> china has named its first new central bank governor in is a years. i gang will take over. let's go to our correspondent in beijing. he has been with the institution for the better part two of decades, but this is a continuity choice for them. >> it is. as you say. he has been the deputy governor for a decade. he has worked underneath the governor for that period. he has been with the central bank since 1997. is there a bit of noise in the hwa of people because the delegates are in the hall rubber stamping these decisions as i talk. yi gang has been confirmed as the next head of the central bank. it is an interesting time to ack over, because the pboc has power to change and write regulations for the financial sector. but in many ways it has lost some of its clout. the governor will have to report to the chief economic advisor to president xi. so less autonomy than the central bank had previously. the

is that good for jay carney -- for germany, for the united states in general? the amount of spare capacity is actually quite limited. it is why the fed is on a hiking cycle. ,ou got your foreign partners europe especially. quickly, this is the theme of the day. the president's scheduled to come out today, according to many sources, and dropped a bombshell on american trade dynamics not only with china, but with other nations. that is why we are doing this today. deal.ne, it is a huge francine: it is a huge deal. first of all, i loved your chart yesterday looking at trades for the u.s., global trade. you have to see whether this pushes a lot of the emerging markets to do even more trait amongst themselves. i was speaking to an emerging markets specialist saying they by pushing soages hard on china, opening up the emerging markets for financials. tom: let's come back and drive this conversation forward. stephanie baker joining us, and katie stockton. the news flow extraordinary today. francine had to go through, extraordinary. ♪ ♪ francine: this is -- taylor:

howcine: talk to me about difficult it is for mark carney right now. i think central banks are more determined than predetermined. i think it is predetermined for a rate hiking -- hike. interest rates are not the only driver. we think the political and structural elements of the u.k. mean that one more rate hike in may or something is not going to cause a bull market for the pound. quite reverse. talked aboutnot capital flows into the united kingdom. i know it is a very interesting and confusing story. critically, since the gloom of early brexit, all hell was going to break loose and money was going to stop flowing in. the last trip to london, i don't buy it for a minute. moneyflows of investment into london and into the u.k. david: you can see the deficits keep getting worse. you're attacking capital and that the u.k. should attract capital since london has an ability, like the u.s. to be very efficient within capital. people want money to come to london. the problem is, what does it mean? nothing is happening. you came to london with exactly the same

that is when mark carney sits in front of the press and explains the decisions and answers questions. we will not get that now but we will in may. he will take that opportunity to raise interest rates explain why. now, six days after the facebook row unfolded, mark zuckerberg has apologised and said he will cooperate in any enquiry. the bbc we re cooperate in any enquiry. the bbc were told earlier that the facebook row has raised wider questions about data protection. —— i welcome the fa ct data protection. —— i welcome the fact that he has apologised but clearly there is much more is that facebook needs to do to make sure that people can trust that it has got their data safe. but it is much broader than that because what this has shown is that it is not right to rely on these big companies to get this subtle balance between people's privacy and the need to use data in innovative ways. that balance is for society to decide on and for parliament to set the rules on. i be worried about this for some time and so we have introduced the data protection bill, in front of parliament

the jail here on water street will be reviewed and new video surveillance will be put in place.steve carney/corrections chief "....body worn cameras will be activated any time a corrections officer enters a housing unit to ensure contacts are recorded and increasing the number of stationary cameras will ensure that blind spots in the facility are covered...."the female inmate was provided with counseling and and assured that she would have no further contact with del real. investigators believe there was just the one incident with her but are reaching outnto current and former inmates in search of other possible victims.rob fladeboe/santa cruz "....officer del rio was fired and is now out of jail after posting a $50,000 dollar bond. he is scheduled to be arraigned next week. in santa cruz rob fladeboe kron 4 news ( robin )former raider and 49er... aldon smith... was a no show in court thursday... and now a bench warrant has been issued against him. smith was supposed be arraigned on charges that he violated a court order when he contacted the victim in a recent domestic violence incident. s

carney did not raise rates yesterday, the setbacks in the currency was small now let's switch it, this is a dollar versus the yen which means the down chart is in favor of the yen against the dollar. so a lot of the dynamics keeping the steady dollar index aren't really giving you the whole picture. jim, judge, back to you. >> thank you so much we are on ipo watch. cloud storage company dropbox making its public debut. stay tuned for the opening trade followed by a live interview with the ceo "squawk on the street" will be right back ♪ feel that? the rhythm of the world. global markets, but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. weeds. nature's boomerang. at roundup®, we know they keep coming back. you never invited this stubborn little rascal to your patio. so, draw the line. one spray of roundup® max control 365 kills to the root and keeps weeds away for up to 12 months. because patios should be for cooking out an

to be done i want to keep the conversation on the bank of to focusbut i want more on what governor carney can do when it comes to rates. still with us, mike bell from jpmorgan asset management and lucy macdonald from alliaz investors. this is a three-month volatility chart. trendn see the downward starting in february of this year. does this mean people are getting used to the idea of brexit and what would it actually take for volatility to go back up on pound? there is aately chance we see more volatility around the sterling over the next six months will we are moving now to hopefully by october -- there is agreement on the heads of terms. but between now and then the discussion on ireland will be tricky. at some point the u.k. is going yield and except the fact that they have two have some kind of customs arrangement that deals with the irish border. that is clearly problematic and one of the red lines the u.k. government has not been willing to cross, but eventually they will have two full on the and getting their -- they will have to fold on that and getting their could cause more vol